One of Europe’s biggest industrial conglomerates is debating whether to split itself up after Denmark’s AP Møller-Maersk fired its chief executive and launched a sweeping strategic review.
Maersk’s shares jumped 12 per cent on Thursday after news of the potential shake-up and the appointment of Soren Skou, the head of container shipping unit Maersk Line, [...]
”In recent years, mega-vessels have caused traffic jams in the water and on-shore as overwhelmed ports struggle to offload thousands of containers.”
What’s a major cause of congestion at our ports? An important from piece Bloomberg View:
In December, the quarter-mile-long Benjamin Franklin became the largest cargo ship ever to dock at a U.S. [...]
Consolidation of shipping lines, realignment of carriers alliances, environmental improvements in the shipping industry and achieving supply chain efficiencies were all among topics addressed during the U.S.-China Bilateral Maritime Consultations held in Los Angeles last week.
Federal Maritime Commission (FMC) Chairman Mario Cordero co-headed the U.S. delegation to the meeting with Deputy Maritime Administrator Michael [...]
From an article titled ‘Auto importer to help Pier 80 roar back to life’ in the San Francisco Chronicle:
For the first time in years, San Francisco’s Pier 80 will revert to its intended purpose: a working cargo terminal.
The Port of San Francisco has reached a deal with Pasha Automotive Services, which will [...]
Excerpts from the Lewiston Tribune:
Westwood Shipping [made] its last call on the Port of Portland Saturday. It was the only container carrier that stopped regularly at the Oregon port and carried a fraction of the volume major shippers hauled. The last of those, Hapag-Lloyd, departed a year ago.
Low rates and overcapacity in the [...]
From a report titled ‘Port of Portland Loses Last Container Ship Service’ in the Wall Street Journal:
Oregon’s Port of Portland will see its last container ship service this Saturday, when Westwood Shipping Lines makes its final call.
Small and midsize ports like Portland are facing challenges as global ocean carriers have formed alliances and [...]
From Marine Link:
The restructuring of the ocean carrier alliance system, triggered by merger and acquisition activities by shipping companies, is a logical business development, but if not carefully monitored and regulated, could also represent a move toward reduced services for shippers, said Mario Cordero, Chairman of the Federal Maritime Commission (FMC).
“At the end [...]
Hapag-Lloyd AG, Germany’s top container shipping line, and five Asian carriers will form a new vessel-sharing alliance to take on bigger rivals amid a glut in capacity that’s depressed freight rates.
The partners will include Japan’s Kawasaki Kisen Kaisha Ltd., Mitsui OSK Lines Ltd., Nippon Yusen KK, South Korea’s Hanjin Shipping Co. and Taiwan’s Yang [...]
[Note: Willie Adams was elected President of the San Francisco Port Commission in January of this year after nearly four years of service on the Commission, and has been the ILWU International Secretary-Treasurer since 2003.]
From an article titled ‘Port of San Francisco and Pasha Automotive Services sign agreement for Pier 80 operations’ in [...]
The 958-foot Safmarine Meru collided with the 1,043-foot Northern Jasper. Image courtesy: zj.people.cn
Two European-owned container ships collided off the coast of China late Saturday with one catching fire, but the crews of both vessels are safe, one of the operators involved said Sunday.
Maersk Line, said the 292-meter (958-foot) Safmarine Meru, which it [...]
On Wednesday, the Maersk Group announced a profit of $214 million. The bottom line number reflects low oil prices and container rates, but the relatively strong result demonstrates that the firm is “competitive as ever,” said CEO Nils Andersen.
The majority of its subsidiary units returned a positive underlying result. Maersk said that core businesses [...]
From the Journal of Commerce:
Hanjin Shipping and Hyundai Merchant Marine have confirmed they are in discussions with other container lines on forming alliances when their current alliance agreements expire in 2017, assuming they survive their current liquidity crises.
Existing alliance structures were due for a shake up after the announcement of the Ocean Alliance [...]
From The Loadstar in the UK:
Despite the impending break-up of both the G6 and CKHYE alliances, both have announced plans to launch Asia-US east coast services, deploying neo-panamax vessels.
However, the International Transport Workers Federation (ITF) this week warned carriers there were increasing concerns about the safety of maneuvring larger vessels in the new [...]
Hapag-Lloyd is to merge with UASC. The news follows the Dubai-headquartered carrier being excluded from the new Ocean Alliance announced yesterday.
The merger was first reported online by German monthly business magazine Manager Magazin yesterday, saying “secret negotiations between the two sides are close to a conclusion”.
Hapag-Lloyd has a fleet capacity of around 920,000 [...]