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Myanmar Scrambles to Clear Port Jam

Photo: Myanmar Industrial Port

 The weeks-long traffic jam of cargo ships at the Myanmar’sbiggest port threatens to scare potential investors away and choke off nascent economic growth, says a report in Reuters.   The bottleneck at the dilapidated port was caused by a spike in demand for goods as the opening up of the economy accelerates following a historic election win by Aung San Suu Kyi’s National League for Democracy (NLD) in November.   “Because of the general growth of the economy we are packed. The ships have nowhere to go,” said Ma Cherry Trivedi, managing director of Ayuroma International, an advisor to Myanmar Industrial Port (MIP), where congestion has been worst.   Its main port has changed little since the end of British colonial rule nearly 70 years ago – emblematic of ramshackle infrastructure that could hold back the foreign investment Suu Kyi needs to live up to sky-high expectations and remake a country impoverished by decades of junta rule.   The number of ships docking in Yangon has doubled over the past decade and the number of containers has jumped fourfold, data shows, clogging up inadequate storage space, overwhelming sclerotic logistics systems and delaying deliveries.   Industry sources said the holdup cost major shipping lines millions of dollars a week.  


Maersk Line Sees Little Impact on Customers' Cargo from Hanjin Collapse

File photo: Maersk Line

Maersk Line, the world's biggest container shipper and a unit of Danish conglomerate A. P. Moller-Maersk, said on Friday in relation to the collapse of South Korea's Hanjin Shipping Co Ltd:   * Maersk Line expects minimal impact on its customers' cargo.   * Maersk Line on Aug. 30 instructed its global operations centres to not load any cargo onto Hanjin owned vessels.   * Says customers have cargo on board two of Hanjin's operated vessels, Maersk Sebarok and Maersk Senang


Atlantic Container Rates To Soar

Starting next year, the price to ship a container across the Atlantic ocean is to soar, as container shipping lines on the Atlantic will be seeking hefty rate increases s next year. Rates for 20 foot containers heading westbound to U.S. Atlantic, Gulf and Pacific ports would rise by $600 from January 1, 2000, carriers in the Trans-Atlantic Conference Agreement (TACA) said. For 40 and 45 ft units the increase would be $750, they said


Maersk Ships Rice to Haiti for Free

Maersk Line, part of the Danish group A.P. Moller - Maersk, will provide free ocean freight for 147 containers (3,525 metric tons) of rice donated by the Government of Thailand to Haiti through the World Food Program. The rice will be split and shipped across four sailings, from Laem Chabang, Thailand to Caucedo, Dominican Republic, before being trucked into Haiti. The first shipment set sail on 15 March 2010, on Maersk Line vessel Maersk Kendal


New Members of NOAA’s Hydrographic Services Review Panel

NOAA Administrator Jane Lubchenco recently appointed nine new members to the Hydrographic Services Review Panel, a federal advisory committee that gives NOAA independent advice for improving ocean and coastal navigation products, information, data and services.   “Optimizing the benefits of navigation services and products is a priority for the agency,” said Margaret Spring, chief of staff for NOAA and the agency’s representative to the Committee on the Marine


Maersk Mulls Quick Acquisitions

Photo: Maersk Line

 Danish shipping giant A.P. Moeller-Maersk A/S’s container altered its strategy this month by planning to expand its fleet through acquisition, breaking from its previous preference of building its own boats, reports Forbes.   Though, 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, Bloomber quoted as Jefferies International Ltd, saying.


Maersk Line Introduces Sustainable Container Floors

Maersk-line-logo.gif

New Maersk Line procurement policy for container floorboards aims to reduce demand for illegally logged tropical hardwood Today, Maersk Line announced a new policy to refrain from purchasing containers with floors made of uncertified tropical hardwood. “Illegal logging is widely recognised as a serious threat to forests, people and wildlife. We feel obligated to use our purchasing power to push for higher standards and ensure that the timber we use for container floors come from


Maersk Buying Back Shares, Earnings Up

Shares rise 5 pct after improved guidance, better quarter than expected. Maersk indicates more buybacks after first in its history. Efficiency, cost savings boost Maersk Line compared to rivals. Denmark's A.P. Moller-Maersk announced the first share buy-back in its 110-year history on Tuesday as an overhaul of the sprawling shipping and oil empire leaves it with more cash than it can usefully invest. Maersk shares jumped 5 percent after the company reported better than expected quarterly


Odfjell Elects Klaus Nyborg Director of the Board

Klaus Nyborg (Photo: Odfjell)

Odfjell SE’s Extraordinary General Meeting, held December 9, 2015, supported the Nomination Committee's proposal and elected Klaus Nyborg as new director of the Board.   Nyborg, a Danish citizen, owns no shares in Odfjell SE and has no formal ties to major shareholders of the company, according to Odfjell.   Nyborg was recently Interim CEO of DS Norden AS from 2014-2015, where he has also been on the board since 2012, and chairman since 2015


First ORC Operation on Maersk Vessel

ORC Module 125EJW Courtesy  MHI Marine Machinery & Engine

The newly developed waste heat recovery system "Hydrocurrent Organic Rankine Cycle (ORC) Module 125EJW" 1 by MHI Marine Machinery & Engine Co., Ltd. (President: Kazuo Soma, Head Office: Nagasaki) has begun operation on the vessel named Arnold Maersk belonging to Maersk Line. The ORC system enables the utilization of extremely low temperature heat sources to generate electrical power at low-cost and high-efficiency in marine applications


Norwegian Orders Four Ships from Fincantieri

Norwegian Cruise Line Holdings Ltd. said it has reached an agreement with Fincantieri S.p.A. to construct the next generation of ships for its Norwegian Cruise Line brand, ordering four 140,000 gross ton ships for delivery in 2022, 2023, 2024 and 2025


EU to rule on Maersk-Hamburg Sud Deal by March 27

EU antitrust regulators will decide by March 27 whether to clear world No. 1 shipping company Maersk Line's bid for German rival Hamburg Sud, its first major deal for more than a decade.   The deal, one of several in a sector seeking consolidation to offset low freight rates and oversupply


Asia-North Europe Box Rates Up 7 pct

File Image: Credit Port of Boston

Container spot freight rates from Asia to Northern Europe rose 7 percent to $961 per twenty-foot equivalent units (TEU), the Shanghai Containerized Freight Index showed on Friday.    Freight rates from Asia to ports in the Mediterranean rose $38 to $882 per TEU


"K" Line Joins Indian National Shipowner's Association

Image: KLine (India) Private Limited

 "K" Line (India) Shipping Private Ltd (KLISP), affiliated company of Kawasaki Kisen Kaisha Ltd., joined Indian National Shipowner's Association(INSA) at the end of January 2017.   KLISP was established in 2014 and actively participates in Indian Coastal Trade as well as


Vancouver Port Selects “PBCF” as Equipment Designated

PBCF (circled in yellow) is being installed. Photo MOL

Mitsui O.S.K. Lines, Ltd. today announced that Propeller Boss Cap Fins (PBCF) was selected as a vessel quieting technology by the EcoAction Program implemented by Port of Vancouver, Canada. PBCF was jointly developed by MOL, West Japan Fluid Engineering Laboratory Co., Ltd


Maersk, Hamburg Süd Enter Slot Purchase Deal

Photo: Hamburg Süd

Container shippers Maersk Line and Hamburg Süd announced a slot purchase agreement for Hamburg Süd’s volumes on the East–West trades to be shipped on vessels in the 2M network.   Maersk Line acquired Hamburg Süd in December 2016


Drewry Launches Credit Research Services for Maritime Sector

Image: Drewry Shipping Consultants Limited

 Drewry Financial Research Services Ltd., the investment research arm of global shipping consultancy Drewry, is pleased to announce the launch of a new credit research service on the global maritime sector.   Through this extension to its established maritime equity research offering


A.P. Moller-Maersk Misses Q4 Forecast

File Image: A Maersk product tanker underway (CREDIT: Maersk)

Net operating loss after tax of $2.7 bln means dividend cut. Chairman to step down at end of March.   A.P. Moller-Maersk missed fourth-quarter profit expectations on Wednesday as the world's largest shipping company pressed on with changes, taking impairments


Maersk Line posts $376 mln Loss

Courtesy Maersk Line

Maersk Line reported a 2016 result that is USD 1,679 million lower than the 2015 result (USD 1,303 million). The overriding reason for the loss is a 19% decline in freight rates compared to 2015. Revenue was USD 20.7 billion, which is 13% lower than 2015 (USD 23.7bn).  


Charting the Consolidation of Container Shipping

Graph: Clarksons Research

 Last year saw a huge amount of change in the under pressure container shipping sector, according to Clarksons Research report. In particular, the ongoing consolidation of the sector in one form or another grabbed the headlines. To put this into context


Maersk Expects Healthier 2017 for Shippers

Photo: Maersk Line

 Bloomberg quoted Robbert van Trooijen, APAC CEO of Maersk Line, saying that the current year (2017) will be more profitable than the last.    Post-Hanjin, ocean freight customers now stressing stability and avoiding risk to supply chains, not just rates, he said.  


Maersk Enhances Asia-Europe, Transpacific services

AE7 WESTBOUND Maersk

Maersk Line introduces a new service – the AE7 – on the Asia-North Europe trade and a new service – the TP16 – on the Transpacific trade.   The new services will enable MSC and Maersk Line to accommodate the incoming volumes from the recently announced slot purchase


MSC Mulls Stake in Messina

The world's no. 2 container line Mediterranean Shipping Company (MSC) is in talks to acquire a stake in smaller Italian counterpart Messina, the Swiss-headquartered group said, in another sign of consolidation in the sector. Container lines are battling their worst ever downturn due to a glut


Commercial Sea Training Resumes for USMMA Cadets

USMMA Logo.jpg

The United States Merchant Marine Academy (USMMA) has announced that Sea Year training for USMMA Midshipmen will resume on three commercial carriers beginning in March 2017.   The reinstatement of the program follows the implementation of comprehensive new policies


Boxship Firms Sign up with Alibaba

File Image: A CMA CGM boxship condusting cargo operations alongside (CREDIT: Marad)

Two container shipping lines, France's CMA CGM and Israel's Zim, have signed up with Alibaba to allow customers to book space on their vessels through the Chinese e-commerce giant, in a bid to boost sales as the sector battles a severe downturn.  






 
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