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The modification of two Maersk shipping routes to pass through the Suez Canal rather than Panama is temporary, says a Maersk spokesman. The diversion from the Panama Canal to an alternate route has contributed to a decline in revenue for the canal administration, The Maersk Line, has used the waterway for over 90 years to [...]  Maersk Line ‘M’-type ship transiting the Panama Canal. Fees for ships to go through the Panama Canal have tripled in the past five years to $450,000 per passage for a vessel carrying 4,500 containers. Image courtesy of Maersk Line. Maersk Line, the world’s biggest container shipping company, will stop plying through the Panama Canal [...] A.P. Moller-Maersk said Friday it had fourth-quarter earnings of $975 million on improved rates in its container subsidiary, the Associated Press reported. Revenue in the fourth-quarter for the owner of the world’s largest shipping company, Maersk Line, rose almost 3% to $15 billion, AP reported. Its full-year profit rose 6% to $60 billion, and revenue [...] Maersk reported the company had reached their target ‘largely from a combination of operational efficiency, network and voyage optimisation, slow steaming and technical innovation’ and that its Triple-E vessels ‘will be the largest and most energy efficient ships on the water.’ Maersk Line has reached its own 2020 target of reducing its fleet-wide CO2 [...] From the Maritime Executive blog: The new ship reliability record eclipses the previous best of 75.7% set in the second quarter of 2012. Ship-level and container-level Key Performance Indicators (KPIs) showed significant quarter-on-quarter increases in reliability in the fourth quarter of 2012, according to Drewry’s quarterly report Carrier Performance Insight. Containership reliability reached a [...] Maersk Container Industry, which is part of the AP Moller-Maersk (APM) group, has called for tougher enforcement of European environmental legislation designed to force potentially harmful reefer containers out of the region. “We urge the European Commission to ensure enforcement of existing EU legislation regarding insulation foam in reefer containers,” said Peter K Nymand, CEO [...]
Making Emma Maersk seaworthy after last week’s incident in the Suez Canal is a complicated process, and a Maersk executive admits it is probably a matter of months before she can enter service again. Palle Laursen, Head of Ship Management for Maersk Line, shares the latest update on the Emma Maersk incident that took place [...] Emma Maersk, one of the world’s largest container ships that found itself in trouble in Egyptian territorial waters, has been safely tugged to berth Saturday in Port Said East Suez Canal Container Terminal (SCCT), the Danish owned company has stated. According to a Maersk statement, the 397-metre long vessel cancelled its southbound voyage through the [...] Orient Overseas Container Lines announced recently the christening of two 13,208-TEU container ships, the M/V OOCL Brussels and the M/V NYK Helios, at a ceremony at Geoje Island Shipyard in South Korea. These ships are now the two largest with OOCL’s worldwide fleet and the largest ever built for OOCL by Samsung Heavy Industries. These [...] A.P. Moeller-Maersk A/S, owner of the world’s largest container line, said the industry needs to raise prices by as much as $500 a box on Asia to Europe trips to restore the trade route to profit. “Just like everyone else on Asia-Europe, we don’t make money at the current rates,” Lars Mikael Jensen, head of [...] 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 [...] The International Transport Workers’ Federation (ITF) today reacted angrily to reports that trade union representatives’ phone calls had been bugged by their employers at the port of Los Angeles, USA. Speaking from Cyprus, where dockers’ and seafarers’ union leaders from around the world are meeting, ITF president Paddy Crumlin stated: “These are extremely serious charges. [...]
Carriers that already have idled about 6 percent of the global fleet are likely to start idling more ships in the next few weeks as the peak season winds down, according to a global shipping consultant. The glut of global vessel capacity next year and the year after is beginning to look like 2012 all [...] Maersk, the largest container line by market value, will report a 44 percent gain in net income to 21.9 billion kroner ($3.8 billion) for this year, according to the mean of 18 analyst estimates. The Copenhagen-based company also owns oil tankers and drilling rigs, with container shipping generating 45 percent of revenue, data compiled by [...] From Economic Times: Straddling one of the world’s great sea routes, the Suez Canal corridor is set to become a bridge connecting Africa with Asia if a grand plan by Egypt’s new government comes to fruition. President Mohamed Mursi’s administration is reviving and expanding a series of projects initiated in the late 1990s under former [...] |
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