From the Signal Tribune
It’s been called “The Big Bang of 2017.” An unprecedented number of ocean-carrier mergers last year and the collapse of the seventh-largest container carrier– Hanjin Shipping– have resulted in something Port of Long Beach officials say has never happened in the shipping industry– the reshuffling of ocean carriers from four to […]
Reported at Maritime Link:
APM Terminals Tacoma has received notification from Matson, Inc., its main customer, that Matson does not intend to renew its current terminal services agreement after its expiration on December 31, 2017.
Accordingly, APM Terminals is evaluating all options with respect to its existing terminal lease, which is currently set to expire […]
From World Maritime News:
Danish shipping giant Maersk Line is scheduled to receive the EU antitrust regulator’s decision on the company’s plan to purchase the Germany-based Hamburg Süd by March 27, according to Reuters.
The deal, reached at the beginning of December 2016 amid a consolidation period in the industry, was filed to the European […]
Excerpts from the Financial Times:
Shares in Maersk fell as much as 7 per cent on Wednesday as it reported only its second annual loss in seven decades and halved its dividend to try to protect its investment grade credit rating.
Maersk recorded a net loss of $1.9bn for 2016, compared with analysts’ expectations of […]
CMA CGM and China Cosco are the two most likely carriers to buy OOCL, should its main shareholders decide to sell the company, according to Drewry Financial Research Services (DFRS).
DFRS claimed the acquisition of Hong Kong-headquartered OOCL and its parent company Orient Overseas International Ltd (OOIL) could represent “the final piece for CMA CGM” […]
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 […]
Excerpts from Bloomberg:
Hanjin Shipping Co. is hardly a bellwether in the world of container movers. As lenders halt all support this week, the South Korean company is now emerging as a symbol of the slump that has plagued the industry since the global financial crisis.
Creditors led by Korea Development Bank will […]
Hapag-Lloyd is to merge with UASC. The news follows the Dubai-headquartered carrier being excluded from the new Ocean Alliance announced yesterday.
The merger was first reported online by German monthly business magazine Manager Magazin yesterday, saying “secret negotiations between the two sides are close to a conclusion”.
Hapag-Lloyd has a fleet capacity of around 920,000 […]
From a Reuters report titled ”China launches new shipping giant to battle downturn”:
China on Thursday launched a challenge to global shippers AP Moller Maersk and Mitsui OSK Lines, but analysts said the giant company must slim down its workforce and order book to weather one of the industry’s worst-ever slumps.
Created from the state-driven […]
From Marine Link:
The merger between China Shipping group and the Cosco Group has given rise to a mammoth company that could trigger stability and extended consolidation in the global shipping industry, says a report in the WSJ.
The merger will free the two Chinese shipping groups from competing against each other at home and […]
China’s two state shipping giants will combine their container-shipping assets among other restructuring efforts, as part of a multibillion-dollar merger to strengthen the nation’s competitiveness in an industry battered by weak demand and persistent overcapacity.
China’s State Cabinet on Friday approved the merger between China Ocean Shipping (Group) Co., or Cosco Group, and China Shipping […]
Drewry Maritime Research asks: will carriers repeat the same tactics that saved them in 2009, or will they wait until things reach boiling point, as the risk of a double dip recession rears its head?
Today’s market does share some similarities to the 2009 crisis: carrier staff redundancies, ultra-low freight rates and the rapid increase […]
Excerpts from the Journal of Commerce:
Alphaliner believes the failure of NOL’s shareholders to obtain a premium over its book value will have significant implications for the industry, especially for other potential sellers seeking to make an exit from the container shipping market.
“The discount to NOL’s book value reflects the impairment of the […]
Bloomberg reports that, ”Neptune Orient, which has posted losses in five of the past six years, is among a number of shipping companies exploring mergers and acquisitions amid a glut of capacity, declining demand and lower rates that could make this the industry’s worst year since 2009.”
CMA CGM SA offered to buy Singapore’s Neptune […]
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 […]