Disclaimer

The articles excerpted on this site report on the state of the industry as seen by mainstream media, and do not necessarily reflect the opinion of the officers of the ILWU Coast Longshore Division.

HMM consortium with 2M officially launches

Hyundai Merchant Marine officially signed a deal with the world’s largest shipping alliance, a move that is expected to grant the company more vessel capacity on its service routes and a way to improve its financial health, the company said Thursday.

HMM CEO Yoo Chang-keun and heads of the 2M alliance, Soren Skou of Danish […]

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Container shipping costs skyrocket after Hanjin collapse

From Hellenic Shipping News:

Container shipping costs, which radically plunged, now shows signs of recovery after the fall of Hanjin Shpiping Co. The strategy of Maersk Line, the world’s largest shipping group which cuts down shipping fees until its competitors fall down and pick fruit when they are liquidated, seems to be working. As […]

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Bankrupt shipper Hanjin selling terminal operations at Port of Seattle

From the Seattle Times:

South Korea’s Hanjin Shipping, one of three major companies that calls on Seattle’s Terminal 46 near the stadiums, filed for bankruptcy protection at the end of August, worrying local retailers about the fate of their cargo. Hanjin had been delivering about three major shipments per week to the Port — nearly […]

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Hyundai Merchant no longer considered for 2M Alliance, Maersk says

From the Wall Street Journal:

Maersk Line, the senior member of the world’s largest container-shipping alliance, has said it is no longer considering Hyundai Merchant Marine for membership in the group, dealing a major blow to the troubled Korean shipping company.

The so-called 2M Alliance—made up of Maersk and Mediterranean Shipping Co.—moves a third of […]

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Korea Line picked to buy collapsed Hanjin Shipping’s Asia-US routes

The bankruptcy court spokesman said Korea Line offered higher prices than Hyundai Merchant Marine, but did not disclose the value of the potential deal.

South Korea’s Korea Line has been picked as the preferred bidder to buy the troubled shipper Hanjin Shipping’s Asia-US operations, beating Hyundai Merchant Marine, a spokesman for a Seoul court […]

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HMM, Korea Line bid for Hanjin’s assets

Hyundai Merchant Marine (HMM) and Korea Line have submitted bids for Hanjin Shipping’s Asia-U.S. route, according to Korea’s Yonhap News Agency and other media outlets.

Yonhap cited sources that said “in addition to the U.S.-Asia route, Hyundai Merchant and Korea Line might have submitted bids for Hanjin’s seven overseas operations, workforce and its (54 percent) […]

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Maersk may target Hanjin, Hyundai in new acquisition plan

A.P. Moeller-Maersk A/S’s container line, which this month ditched a strategy of building new vessels and will instead try to grow through acquisitions, is targeting South Korea’s two biggest shipping firms, according to Jefferies International Ltd.

Hanjin Shipping Co. last month filed for bankruptcy protection and Hyundai Merchant Marine Co. is in the middle of […]

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Maersk may target Hanjin, Hyundai in new acquisition plan

From Bloomberg:

A.P. Moeller-Maersk A/S’s container line, which this month ditched a strategy of building new vessels and will instead try to grow through acquisitions, is targeting South Korea’s two biggest shipping firms, according to Jefferies International Ltd.

Hanjin Shipping Co. last month filed for bankruptcy protection and Hyundai Merchant Marine Co. is in the […]

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Portland auto exports drive ConnectOregon grant

The Oregon Department of Transportation has awarded a ConnectOregon grant of $2.6 million to the Port of Portland along with tenant Auto Warehousing Co. to fund part of a $7 million expansion of auto handling facilities in the Rivergate Industrial District near Terminal 6. Plans call for AWC to develop a new 18.9-acre storage and […]

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Hyundai Merchant Marine joins Maersk and MSC in 2M Alliance

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 […]

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Hyundai, Hanjin mull alliance options

From the Journal of Commerce:

Hanjin Shipping and Hyundai Merchant Marine have confirmed they are in discussions with other container lines on forming alliances when their current alliance agreements expire in 2017, assuming they survive their current liquidity crises.

Existing alliance structures were due for a shake up after the announcement of the Ocean Alliance […]

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Container shipping on the cusp of a major shakeup

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 […]

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Expanding capacity, bigger ships to test European ports this year

The first big event of the year will be the February rollout of the world’s first fully automated container terminal in Rotterdam, which threatens to unleash a rate war across the Le Havre-Hamburg range as carriers leverage the added capacity to beat down handling charges.

Europe’s ports face a rocky ride in 2015, dominated […]

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Port of Hueneme sees another record year

The Port of Hueneme realized its highest international trade year in its 77-year history and its second-highest year for domestic and international freight combined. The benchmark year included a 30% increase in auto exports. The total tonnage for FY 2013-2014 came in at a strong 1,438,596 metric tons representing a less than 1% decrease from […]

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