Excerpts from the Journal of Commerce:
One major global shipper compared the container shipping freight market to a car dealership. “The basic product is not profitable, but if you can sign the customer up for a sufficient number of additionals, you’ll survive,” he told JOC.com.
[S]urcharges contained, among other items, terminal handling fees at both [...]
The Port of Los Angeles announced this week it will begin construction this summer on a two-year, $127 million project to improve the marine terminal operated by Yusen Terminals, so that it can more efficiently handle larger vessels.
West Coast marine terminals’ inability to handle larger vessels was one of the main contributors to port [...]
Cosco has reportedly ordered nine 20,000-teu ships, with an option for four additional vessels of the same size, according to several news media.
The ultra-large container ship newbuilding order comes just days after Maersk Line ordered 11 similarly-sized vessels of 19,630-teu each. That order came after CMA CGM confirmed it had ordered six 14,000-teu ships, [...]
From the Journal of Commerce:
The capacity of container ships ordered so far this year is up 60 percent on the same period in 2014, at just over 1 million 20-foot-equivalent units, driven by a wave of contracts for mega vessels, according to Alphaliner.
The surge in orders is largely focused on vessels above 18,000 [...]
”Things are going from bad to worse, with these threatened sackings and the use of navy sailors as strikebreaking mercenaries. Those kind of tactics would be unthinkable in APMT’s home country of the Netherlands, not to mention Denmark, home of its parent, the Maersk Group.” — Paddy Crumlin, ITF President
The International Transport Workers’ [...]
Hapag-Lloyd has ordered five modern container ships from the South Korean shipbuilder Hyundai Samho Heavy Industries (HSHI) for its South American trade. Each of the new ships is 333 meters long, 48 meters wide and has capacity for 10,500 standard containers (TEU). In addition, they are equipped with a highly efficient main engine, an optimized [...]
Lloyd’s Register has signed a contract with COSCO Zhoushan Shipyard in China and Maersk Line in Denmark for the classification of the shipping carrier’s seven new 3,600 teu containerships.
The vessels will be built to Danish Flag and have a length of 200 meters and a breadth of 35.2 meters, according to Maersk.
Maersk Line has announced that it has entered into Vessel Sharing Agreement (VSA) with Mediterranean Shipping Company (MSC) and Mitsui OSK Lines (MOL) on the Asia to East Coast of South America trade.
The news comes days after Maersk Line revealed it had turned in its best-ever first quarter result, with profit up 57.1 per [...]
SAN FRANCISCO, CA (May 22, 2015) – West Coast Longshore workers have overwhelmingly voted to ratify a tentative contract agreement reached in February with employers represented by the Pacific Maritime Association (PMA).
Members of the International Longshore and Warehouse Union (ILWU) voted 82% in favor of approving the new 5-year agreement that will expire [...]
Zim Integrated Shipping Services Ltd. finished the first quarter of 2015 with an $11 million net profit, following a sharp drop in shipping costs, and despite a more moderate decline in its revenue. Zim, which last summer completed a huge debt settlement with its creditors, reported $792 million in revenue from cargoes and related services [...]
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 [...]