French ocean carrier CMA CGM has agreed to sell a 49 percent stake in its Terminal Link ports unit [...]
The world’s second-biggest shipping line is bolstering its presence at the Port of Long Beach with a major long-term leasing partnership that will double its stake in Long Beach, the head of the port announced Thursday.
Mediterranean Shipping Co.’s partnership with Total Terminal International in Pier T is considered a major win for the Port [...]
German container ship operators Hapag-Lloyd and Hamburg Sud are to consider possible merger talks, according to a brief but less than detailed press release issued by both companies.
Earlier this year Hapag-Lloyd’s biggest single investor, Klaus-Michael Kuehne told a German newspaper he thought the two companies should merge so that their combined forces could compete [...]
Greece-based Technomar Shipping has emerged as the buyer of CMA CGM Verdi and its sister ship CMA CGM Strauss in a deal including five-year charters back to the French liner operator.
The 2004-built, 5,770 teu ships are understood to have been purchased for close to $39m each.
Technomar, which is Greece’s third largest box ship [...]
China Shipping Container Line Company, the world’s 8th-largest container shipping company by capacity, will begin cargo service to the US Gulf Coast and Florida through a slot charter arrangement on the weekly Pacific Express 3 string operated by CMA-CGM, which will include calls at APM Terminals Mobile, APM Terminals Jacksonville and Miami’s South Florida Container [...]
Last week The News Tribune speculated that the Port of Tacoma’s updates to its Pier 3 infrastructure would allow the port to host Maersk Line’s new “Triple E” containerships, the world’s largest vessels.
The Port of Tacoma had been recruiting Maersk to return to Tacoma after it left two years ago to join its [...]
The Port of Jacksonville will get new calls this month by China Shipping and United Arab Shipping, which participate in a vessel-sharing agreement with CMA CGM in its PEX 3 service.
This development makes Jaxport the last port of call on the PEX 3 rotation’s westbound leg, following U.S. calls at Houston, Mobile and Miami.
Ocean carriers could face a short-term funding call of up to $20 billion in 2012 as they are not generating sufficient cash to cover interest payments and meet capital requirements, according to container market analyst Alphaliner.
Most carriers appear to have successfully weathered the market downturn in 2011 but “a number of them continue to [...]
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