On April 01 ‘THE Alliance’ of Hapag- Lloyd, ‘K’Line, MOL, NYK and Yang Ming, will launch 32 liner services to 75 major ports on trade lanes connecting Asia with the Indian Subcontinent, Middle East, Europe, North and Central America and the Caribbean.
And reminded of the sudden demise of Hanjin Shipping last August, they have […]
The Federal Maritime Commission (FMC) has concluded its review of the proposed “THE Alliance” agreement, allowing it to become effective on December 19, 2016.
“I am very cognizant of the concerns industry stakeholders had regarding provisions in this agreement, particularly those related to information sharing and joint procurement,” stated Federal Maritime Commission Chairman Mario Cordero. […]
The major Japanese carriers NYK, MOL and “K” Line agreed to merge their container divisions, forming a brand new shipping company. The combined company will operate a fleet of 110 vessels with 1.4 million TEU, making it the fifth largest container line in the world. The decision was taken among crisis in the industry with […]
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 […]
”Our goal in the FBI is to expose the back room deals and secret handshakes and to stop the culture in some businesses that allows these crimes to take place,” said special agent Steve Vogt after Toru Otoda, a ‘K’ Line executive, was sentenced to 18 months in US prison and fined USD20,000 in […]
The Federal Maritime Commission has received a Class Action Complaint filed by Cargo Agents, Inc., International Transport Management, Corp., and RCL Agencies, Inc. against some of the world’s top vehicle transport services providers.
The complaint filers are purchasers of vehicle carrier services and allege that the some of the largest providers of deep-sea vehicle transport, […]
From the Journal of Commerce:
There will be no sustained recovery in the dry bulk or container shipping sectors this year amid overcapacity in the industry and slowing demand for raw materials from China, said “K” Line President and CEO Eizo Murakami.
In his New Year’s address, Murakami said that while falling bunker prices and […]
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 […]
Nippon Steel & Sumitomo Metal Corp (NSSMC), the largest steel producer in Japan, intends to replace its fleet of chartered-in capesize vessels with nine super-cape vessels of 230-250,000 dwt each.
According to the U.S. shipbroker Compass Maritime, the very large ore carriers (VLOCs) will be chartered on periods of 8 to 15 years from four […]
In an article titled ‘K Line executive sentenced in relation to price fixing accusations,’ Vessel Finder reports:
In addition to the 18-month prison sentence and a $20,000 fine, Tanioka has agreed to provide assistance to the department in its current ongoing investigation that focuses on the ocean shipping industry
A Kawasaki Kisen Kaisha Ltd. (K-Line) […]
Kawasaki Kisen Kaisha (K Line) has announced a new order of a 14,000-TEU quintet. The new boxships will be constructed at Imabari Shipbuilding with length of 365.9 metre, beam 51.2 metre and draft of 14 metre. The price of the container ships was not announced.
The Japanese shipping conglomerate placed the order following the trend […]
AP Moller Maersk, Mediterranean Shipping Company and CMA CGM Group have emerged as leaders in the global shipping business on the global ranking for shipping liners based on their market share as well as the twenty-foot equivalent units (TEUs) capacity of containers they handle.
According to alphaliner.com, APM-Maersk, which took the first position, handles about […]
U.S. Federal Maritime Commissioners yesterday unanimously voted to allow CKYH partners and Evergreen Line to discuss cooperating in the trans-Pacific and trans-Atlantic trades.
The discussion agreement allows the carriers to look at launching vessel-sharing agreements on the two major trade lanes while gauging the market and how other carrier alliances take shape. Cosco, “K” Line, […]
From the Financial Times:
By holing AP Møller-Maersk’s plans for a grand European shipping alliance below the waterline, the Chinese government has sent a powerful message that it will not hesitate to block deals deemed detrimental to corporate and consumer interests in the world’s second-largest economy.
“If anyone was going to stop it, it […]
“K” Line said a trucker strike at Port Metro Vancouver has forced the carrier to declare force majeure and to divert import containers for local Vancouver delivery to Tacoma, Wash.
The carrier said the declaration affects shipments on the Genoa Bridge and Yang Ming New Jersey. Intermodal rail shipments and export cargo are not affected. […]