Cosco Pacific, the port unit of China Ocean Shipping Group, seems to be distancing itself from any involvement in a port privatisation plan in Greece, where a new leftist government has tried to shed austerity commitments, casting doubt on further investment by the Chinese firm.
“Any decisions related to [the bidding] of Piraeus Port Authority [...]
China Cosco Holdings pushed ahead with its fleet scrapping plan last month by dismantling two container ships and two bulk carriers.
The scrapping of the vessels incurred about renminbi 59 million ($9 million) in losses, according to a May 13 stock filing. … China Cosco is renewing its fleet and replacing older vessels with new [...]
From the Economic Times:
COPENHAGEN: AP Moller-Maersk reported a first-quarter net profit above forecasts, helped by strong performance in its container shipping segment and the sale of a stake in a bank, although still weighed down by low oil prices for its oil unit.
Denmark’s largest company by revenue said net profit rose to $1.57 [...]
VT Halter Marine has delivered the M/V Marjorie C combination container and roll-on / roll-off (ConRo) vessel to Honolulu-based Pasha Hawaii. The Marjorie C ConRo vessel was designed by Uljanik Shipyard in Croatia and built by VT Halter Marine. Courtesy of Pasha Hawaii.
Marjorie C will join its sister ship M/V Jean Anne, also [...]
Excerpts from The Guardian:
Iran has released a Marshall Islands-flagged container ship and its crew which were seized last week in one of the world’s major oil shipping lanes, the vessel’s operator has said.
The ship was diverted on 28 April by Iranian patrol boats in the strait of Hormuz, prompting the US to send [...]
Taiwanese container shipping company Yang Ming Lines announced on Monday it has agreed to start using the installations of Piraeus Container Terminal (PCT), the local subsidiary of China’s Cosco, as a transfer terminal for the wider region of the Mediterranean and the Black Sea, its representative in Greece said.
Arkas Hellas, which represents the Taiwanese [...]
Suez Canal Authority said it controlled a blaze in a British container ship passing the waterway Friday, leaving no human losses.
The fire broke out in a stack of containers towards the stern while the 13,000-teu Hanjin Green Earth vessel was underway 48 km to the south of the canal on Friday evening. The fire [...]
Maersk Tigris seized in Iran. BBC graphic.
Iran’s seizure of a container ship this week stems from a decade-long dispute over 10 shipping containers, officials at Maersk, the Danish shipping giant, said on Thursday.
The United States sent a destroyer to the Persian Gulf on Tuesday in response to the seizure. On Thursday, Col. [...]
Forget faster shipping services and press container lines for better reliability, is the advice from Drewry to shippers prepared to pay a premium for expedited options.
In its Container Insight Weekly, the analyst said Robert Gora, Siemens vice president, global category management logistics, had called on carriers to offer faster services between Asia and Europe [...]
Israel’s Zim Integrated Shipping Services Ltd. is reported to be planning its first newbuilding orders since the financial crash.
Zim president and CEO Rafi Danieli noted that the company has not ordered newbuildings for nearly a decade, having entered the financial crisis with more than 40 containerships on order, most of which were cancelled.
European shippers are stepping up their scrutiny of shipping alliances, launching their own review of the massive vessel-sharing agreements.
Sixteen of the world’s 20 largest container carriers are members of the four so-called “mega-alliances”: 2M, Ocean Three, G6 and CKYHE. And although the alliances received the go-ahead from global regulators, the European Shippers’ Council maintains [...]
Colombia has freed Da Dan Xia, COSCO Shipping’s heavy-lift vessel involved in an illegal arms transport, and has ordered the ship to head to Havana, Cuba, on 21 April.
The ship was detained in Cartagena by Colombian authorities in March this year for carrying illegal weapons. Approximately 100 tonnes of gunpowder, 2.6 million detonators, 99 [...]
The Pasha Group says that the U.S. Department of Justice (DOJ) has cleared its acquisition of the Hawaii trade-lane business of Horizon Lines, Inc. (Horizon). This paves the way for an anticipated final closing before the end of the second quarter.
In becoming part of Pasha, Horizon’s Hawaii business will operate alongside Pasha Hawaii’s existing [...]
Interesting perspective from OOCL CEO in excerpts from a Journal of Commerce article titled ”No escape from ship ordering ‘arms race,’ OOCL head says”
Container shipping lines cannot get out of the large vessel arms race and excess capacity will be a permanent problem, according to Orient Overseas International Ltd. chairman Tung Chee Chen.
The JOC reports that, ”Fritz’s comments poured cold water on industry-wide speculation that shipper frustration with months of West Coast delays could trigger a cargo shift like one following the 10-day lockout of longshore workers on that coast in 2002.” Photo shows Ports of Los Angeles and Long Beach.
Union Pacific Railroad on Thursday [...]