Shares in Neptune Orient Lines (NOL) yesterday surged to their highest in almost seven months, after the container shipping giant said at the weekend that it is in exclusive talks for a potential acquisition by France’s CMA CGM.
NOL shares rose by as much as 6.25 per cent to S$1.19, the highest intraday level since [...]
Plagued by overcapacity and ongoing losses, the container shipping industry is rife with talk of potential mergers and acquisitions. The consolidation of the highly fragmented industry is long overdue, especially when contrasted with such other heavily capitalized transportation sectors as railroads and airlines.
The possibility that a new wave of M&A may be imminent was [...]
There is little prospect of a bidding war for Neptune Orient Lines between prospective suitors Maersk Line and CMA CGM as the risks involved in acquiring a loss-making line in a weak market will lean heavily on the sale price, Drewry believes.
However, price will be the sticking point, Drewry said in its Container Insight [...]
The extent of Arctic sea ice this October was the sixth-lowest on record, according to a National Snow and Ice Data Center release last week — in a year in which the overall seasonal low reached its fourth-lowest extent on record in September.
Figures such as those have fueled renewed interest in Arctic shipping, which [...]
Neptune Orient has sold its main office building and some vessels amid four consecutive years of losses.
Neptune Orient Lines Ltd. said it’s in separate talks with France’s CMA CGM SA and Denmark’s A.P. Moeller-Maersk A/S on a potential sale of the Singapore container shipping company.
CMA CGM has made a preliminary offer for [...]
”The most dramatic symbol of these problems is that an 18,000 container Triple-E freighter, one of the largest (and therefore theoretically most cost-efficient) container ships on the planet, was idled by Maersk in late October.” — Fortune
From an article titled ”Maersk’s terrible earnings report shows ocean shippers are sinking themselves” in Fortune Magazine:
A U.S. Federal Maritime Commissioner said he was told earlier this week by representatives of China Shipping Container Lines and Cosco that the container lines are in the early stages of a merger.
FMC Commissioner William Doyle told JOC.com that China’s two largest container lines are working to be as transparent as possible regarding the [...]
From the Wall Street Journal:
Maersk is canceling options to buy six Triple-E vessels.
The world’s biggest container-ship operator is altering course, slashing jobs and canceling or delaying orders for new vessels after years weathering a sharp downturn in the container-shipping market.
Danish conglomerate A.P. Møller-Maersk A/S said Wednesday its Maersk Line container-shipping unit would [...]
Japan’s three largest container lines saw their group revenues miss forecasts and remain almost flat in the first half of the current fiscal year, while Mitsui O.S.K. Lines (MOL) slipped into the red.
MOL, NYK Line and “K” Line reported their financial results for the first half of 2015, which started in April, revising [...]
From the Journal of Commerce:
Container lines, U.S. shippers and logistics providers are coming together to figure out the best way to prepare for the July 1 start of new global regulations requiring the weighing of containers before they are allowed to be loaded onto a ship.
The Agriculture Transportation Coalition and the Transpacific Stabilization [...]
It forecast that the idle fleet would breach the 1m teu mark in the coming weeks as lines implement more capacity reduction programs.
Underscoring worsening conditions Maersk Line has idled one of the largest ships in its fleet and 18,000 teu triple-E, whereas lines have generally tried to avoid taking their largest vessels out of [...]
Danish conglomerate A.P. Møller-Maersk A/S on Friday cut its full-year profit guidance, saying global demand for container shipping — the conglomerate’s biggest contributor — has been weaker than expected.
The company said it expected underlying earnings to come in at $3.4 billion this year, compared with its previous guidance of $4 billion, based on a [...]
State air quality regulators have given their approval to emissions-control technology that has been developed at Port of Long Beach to help shippers comply with increasingly strict emissions standards for California’s seaports.
The technology is known as Advanced Maritime Emission Control System, or AMECS. The Carson-based Advanced Cleanup Technologies Inc. developed the technology with some [...]
From an opinion piece on Port Stratego by Paddy Crumlin, president of the International Transport Workers’ Federation and the chair of its dockers’ section:
‘Having a policy typed up and laminated in your company offices doesn’t make its application a reality. Genuinely high standards of health and safety are about constant vigilance and [...]
Major container carriers such as Maersk Line, Mediterranean Shipping Co., United Arab Shipping Co., Hamburg Sud and Hapag-Lloyd are among those making significant investments in their reefer business to help offset slower growth in other business areas.
Industrywide, reefer capacity on container ships is expected to increase 22 percent during the next five years, according [...]