Horizon Lines has been ordered to [...]
Hyundai Merchant Marine (HMM) has signed on to join the 2M alliance from April next year.
HMM will join Maersk and MSC in the vessel sharing partnership, marking the latest sign that the Korean line is finally coming out of its financial woes.
HMM added that it has now completed all conditions set out in [...]
Hawaii’s largest shipping company, Matson Inc., said Monday it will acquire Span Alaska Transportation LLC in an effort to expand its Alaska service offerings.
Matson’s subsidiary Matson Logistics Inc. will acquire 100 percent of the equity of Span Alaska for a cash purchase price $197.6 million. The deal is expected to close in the third [...]
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, [...]
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 [...]
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 [...]
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 [...]
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