Container Shipping Lines
Container shipping line members of the Grand Alliance reportedly will improve their service between North Asia and the U.S.
A container shipping organisation urged companies on Monday to raise Asia-U.S. freight rates by at least $600 per 40-foot container (FEU), corresponding to an increase of 14.2 percent from current levels, from Sept. 1. TSA (Transpacific Stabilization Agreement) said the planned increase follows strong cargo demand and high vessel utilization levels in recent months, which forward bookings suggest will continue through September.
Container shipping line Maersk Sealand, owned by Denmark`s shipping and oil conglomerate A.P. Moeller (APM), said on it was ready to expand again after a successful integration of its last major acquisitions. "We aim for a bigger market share and want to grow faster than the market", APM Chief Financial Officer Eivind Kolding said. In 1999 Maersk Line acquired South African shipping group Safmarine and U.S.-based international container line Sea-Land for a total of $1.04 billion
Q4 net profit falls to $936 mln vs $808 mln forecast; Company will issue bonus shares. Danish shipping and oil group A.P. Moller-Maersk said 2013 net profit fell less than expected thanks to higher earnings at container shipping business Maersk Line. Fourth-quarter net profit fell to $936 million, Maersk said on Thursday, beating the average forecast of $808 million in a Reuters poll of analysts. Underlying group net profit this year is expected to be in line with 2013's figure of $3
Container shipping companies were urged to raise Asia-U.S. freight rates by at least $600 per 40-foot container (FEU) with effect from Aug. 1, their organisation TSA said on Wednesday. Members of the TSA (Transpacific Stabilization Agreement) include 15 of the world's biggest container shipping lines such as Denmark's Maersk Line, a unit of A.P. Moller-Maersk , privately owned Switzerland-based Mediterranean Shipping Company (MSC), French privately held CMA CGM, China's COSCO
Evergreen Group founder and Group Chairman Dr. Yung-Fa Chang passed away at the age of 88 in Taipei on January 20, 2016. Dr. Chang was born in 1927. He founded Evergreen Marine Corporation in 1968 with just one secondhand general cargo vessel, and by 1985, the company had become the world's largest container shipping line. In 1989 he established EVA Air, extending his global business empire from shipping to airline and land transportation.
Bloomberg reported that Neptune Orient Lines Ltd. and 11 of the largest shipping companies plying the Pacific Ocean said costs of moving cargo to the U.S. in 2006 will rise 7 percent on higher fuel prices, which may spur them to raise freight rates. The cost of transporting containers by trucks and railways will increase as much as 25 percent, the 12-line Transpacific Stabilization Agreement, whose members ship about 70 percent of trans-Pacific trade, said in a statement today.
Maersk Line signed a contract with 's Daewoo Shipbuilding & Marine Engineering Co., Ltd. to build 10 of what the company terms as the world's largest and most efficient vessels, with an option for an additional 20 vessels. Scheduled for delivery between 2013 and 2015, they will entirely change the shipping industry's understanding of size and efficiency. Called the 'Triple-E' class for the three main purposes behind their creation -- Economy of scale
Agenda announced for forthcoming JOC Container Shipping Conference in Shanghai, China Drewry Shipping Consultants estimate that container shipping lines collectively lost $5.2 billion in 2011. To thrive in 2012, the industry will have to tackle declining rates and a potentially chaotic round of mergers and acquisitions. Business leaders will discuss the potential scenarios and predictions for the upcoming year at UBM Global Trade's JOC Container Shipping Conference ShanghaiJune 4-5 at the
Maersk Line, a unit of the A.P. Moller-Maersk Group, based in Copenhagen, Denmark, has retained its position as the world’s largest container shipping line, according to Alphaliner. It is still the world’s largest ocean carrier by capacity but its closest rivals, Mediterranean Shipping Co. and CMA CGM, posted higher fleet growth rates during 2015. It is safe from its closest rivals with a fleet growth of 4.1 percent in 2015, data from Alphaliner shows
Taicang Container Lines Co. Ltd has rolled out the first direct container shipping line linking China's Yangtze River basin and Southeast Asia, reports Xinhua. The container ship departs once a week from and arrives at Taicang Port in east China's Jiangsu Province
Shipping freight rates for transporting containers from ports in Asia to Northern Europe fell by 8.1 percent to $431 per 20-foot container (TEU) in the week ended on Friday, one source with access to data from the Shanghai Containerized Freight Index told Reuters.
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
Fifteen container liner shipping companies "have offered to change their pricing practices to settle an EU antitrust probe and stave off possible fines," according to a report from Reuters Wednesday that cites two unnamed sources.
Peel Ports, one of Britain's largest port operators, expects to withstand the container shipping slump with a bold project aimed at attracting cargo to Liverpool away from southern gateways, its chief executive said. The container market
China is going after container shipping lines for freight rate abuses. The Chinese Ministry of Transport has fined a total of $65 million on price-fixing charges. The National Development and Reform Commission said in a statement that the imposed fines are equivalent to 4% to 9% of
China has fined seven shipping companies, including Japan's Kawasaki Kisen Kaisha, a total of 407 million yuan ($62.85 million) for price-fixing, the country's state economic planner said in a statement on Monday. The National Development and Reform Commission (NDRC) said the companies colluded
With MSC Mediterranean Shipping Company has resumed vessel operations to Iran, after services were suspended in 2012 in response to trade sanctions, Some of the world’s largest container shipping lines are pursuing business in Iran, reports WSJ.
Adani Group turns its flagship port and India’s biggest commercial port at Mundra in Gujarat into a regional transhipment hub by partnering with Terminal Investment Ltd SA, the container terminal operating company majority owned by Geneva-based Mediterranean Shipping Co
The world's second biggest container shipping line, MSC, has become the latest firm to resume direct services to Iran, although trade remains cautious as Western sanctions are still in place and regional tensions escalate. The deal reached over Tehran's nuclear programme in exchange for
With U.S. sanctions on Iran expected to be lifted within the coming months, several container shipping lines have resumed calling the country in the second half of 2015. Among ships recently calling Iran is Panamanian flagged MSC Domitille which visited container port Bandar Abbas at the
Rates for shipping containers from ports in Asia to Northern Europe fell by 24.4 percent to $932 per 20-foot container (TEU) in the week to Friday, a London-based container derivative trader with access to data from Shanghai Shipping Exchange told Reuters.
Maersk Line, container shipping line, has switched the UK call of its Samba service from Tilbury to DP World London Gateway Port. The first call on the service will be made by the Maersk Lanco on Monday, March 21. The rotation of the service includes calls at Santos, Paranagua, Itajal
Shipping freight rates for transporting containers from ports in Asia to Northern Europe fell by 13.9 percent to $469 per 20-foot container (TEU) in the week ended on Friday, one source with access to data from the Shanghai Containerized Freight Index told Reuters.
The largest global container firm Maersk Line has launched a new weekly service between Santa Marta and Turbo in Colombia and Northern Europe specifically designed for refrigerated cargo. Danish container shipping giant added this new service from Latin America to Europe and a new