Excerpts from an analysis by the Journal of Commerce:
Just when you thought the news couldn’t get worse for global container carriers that lost an estimated $650 million collectively in the first half [...]
The European Commission said it is probing container-shipping companies for possibly fixing prices. The antitrust regulator is looking into how these firms announce their price increases. The method of making the announcements raised suspicions that the firms may have colluded with each other to hike the prices of some international trading routes.
A person familiar [...]
Military Sealift Command (MSC) has awarded a contract to Maersk Line Ltd. in Norfolk, Va., to charter a ship to function as a “maritime support vessel.”
The $73 million contract, with options for four 12-month options for a potential total value of $143 million, calls for a U.S.-flag, twin-shaft vessel for use into November 2014, [...]
Maersk Supply, a subsidiary of the A. P. Moller-Maersk group, came out of the third quarter of 2013 with a profit of US$76-million, against a profit of US$ 48-million in the same quarter in 2012. Revenue rose from US$ 226-million in the period of 2012 to US$ 240 million.
The profit for the third quarter [...]
Click on the orange arrow to listen to the OPB interview.
From Oregon Public Broadcasting:
The International Longshore and Warehouse Union disputes there’s a slowdown. And committeeman Leal Sundet is not hopeful about negotiations, “I don’t see Hanjin staying in Portland in the short-run,” he said.
“They may come back, they’ve been to Portland [...]
Hapag-Lloyd AG said third-quarter profit fell almost 64 percent as Europe’s fourth-largest container-shipping line confronted low peak-season freight rates.
Net income dropped to 16.6 million euros ($22.3 million) from 45.6 million euros a year earlier, the Hamburg-based company said in a statement. The average freight rate declined more than 10 percent to $1,476 per standard [...]
Foss Maritime made two big announcements this week. Click on the headlines to read the full articles:
Foss Maritime parent firm buys K-C site in Everett:
Kimberly-Clark Corp. has agreed to sell the site of its former waterfront mill to the Seattle-based parent company for Foss Maritime Co. Under the plan, some 250 skilled maritime [...]
China Shipping has set up a wholly-owned subsidiary, China Shipping (South America) Holding, in Sao Paulo, Brazil, which will become the investment, planning, management and service center of China Shipping in South America.
The new company will be engaged in investment and management of shipping, ship agency, freight forwarding, and logistics.
The establishment of the [...]
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