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Container Shipping Lines

Members Of Grand Alliance To Add U.S.-Asia Service

Container shipping line members of the Grand Alliance reportedly will improve their service between North Asia and the U.S.

Transpacific Container Shippers Aim for Rate Rise

Photo: Maersk

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.

Asia-Pacific Container Shipping Rate Hike on the Cards

Container ship: Photo APL

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

Maersk Eyes Growth After Takeovers

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

Maersk Beats Profit Forecast on Shipping Business

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

Shipping Lines Estimate Costs to Rise

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.

Container Shipping Conference – Shanghai Agenda Promulgated

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 Orders 10 Ships from Daewoo


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

UASC Enters New Phase of Expansion

Photo: UASC

United Arab Shipping Company (UASC), a container shipping line recently announced the launch of a North Europe – US East Coast (NEU1) service as well as an order of 3,500 reefer containers. The new NEU1 service is part of UASC’s strategic global network to provide customers with worldwide transportation access and reach. The service consists of a weekly sailing making five direct port calls in North Europe to the principle ports of Le Havre, Antwerp, Rotterdam

MSC Inks Partnership Deal with Orca Social


  MSC Mediterranean Shipping Group has signed an exclusive partnership with the social media consultancy Orca Social Ltd. Over the past 45 years the family-owned shipping company, headquartered in Geneva, has maintained a modest approach to communications. “Historically, we have communicated with our customers on a one-to-one, offline basis. New technology allows people and companies to communicate in new and exciting ways

Shanhaiguan Books Order for Six Containerships

Photo by Shanhaiguan Shipbuilding Industry

 China’s Shanhaiguan Shipbuilding Industry has booked an order to build up to six feeder containerships for Dalian Port Wantong Logistics and Dalian Jifa Ship Management.    The newbuilding contract will see the affiliate yard of China Shipbuilding Industry Corporation

Megaships Worsen Overcapacity in Boxship Trades

The 16,000 TEU CMA CGM containership Marco Polo (file image)

Container shipping lines are poised to take delivery of a new generation of "megaships" over the next two years, just as the growth of world trade is slowing down, contributing to massive overcapacity in the market. Megaships, which can be up to 400 metres long, seem to be here to stay

Asia-Europe Box Rates Drop 22.4 pct

A Maersk Containership underway (file image, credit: Maersk)

Shipping freight rates for transporting containers on the world's busiest route have dropped by more than 20 percent for the second consecutive week and are now at their lowest level since July 24. Spot rates fell 22.4 percent to $456 from ports in Asia to Northern Europe after a fall of 22

MSC India Wins MALA Award

Photo by MSC - Mediterranean Shipping Agency AG

 For the 6th consecutive year, the Maritime and logistics awards (MALA) ceremony took place on 4th September at the Leela Hotels, Andheri east, Mumbai. The awards, which were started in 2009 by the Nikhil Modi’s Exim team, are the most prestigious awards for the shipping fraternity in

Will Cosco-CSCL Merger be a Trend-setter?

Photo: COSCO

 A China Ocean Shipping Company COSCO-China Shipping Container Lines (CSCL)merger makes financial sense, but would have huge implications for competition in the container shipping industry, according to Drewry Maritime Research.  

Asia-Europe Box Rates Plunge 23 pct

Shipping freight rates for transporting containers from Asia to Northern Europe fell 23 percent to $588 per 20-foot container (TEU) in the week ended Friday, a source with access to data from the Shanghai Containerized Freight Index told Reuters.

Nan Tsing Suspends Operations

Image: Kwai Tsing Container Terminals

 Chinese domestic container carrier Nan Tsing Container Lines has ceased operations of its entire shipping fleet as it struggled with mounting debts, says local media.   This leaves more than 40 containerships operated by the shipping lines have been detained at several major ports in

China Shipping Line to Buy 10 Vessels

Photo: China Shipping Container Lines Co

 China Shipping Container Lines Co is planning to buy around 10 ultralarge container ships for around $1.5 billion, despite the shipping industry struggles with a capacity glut, reports WSJ.   The company wants to fulfill capacity commitments in its Ocean Three alliance with

Asia-N.Europe Box Rates Jump 26 pct

File Image: a Maersk Containership (Maersk)

Shipping freight rates for transporting containers from ports in Asia to Northern Europe jumped by 26 percent to $591 per 20-foot container (TEU) in the week ended on Friday, data from the Shanghai Shipping Exchange showed. The rise in spot freight rates came after all major container shipping

Larger Ships, Demand Driving Port Investment Boom

APM Terminals Mobile Alabama (Photo: APM Terminals)

Rising global container port demand and ever larger vessels are driving terminal operators to make significant investments in additional capacity, according to the Global Container Terminal Operators Annual Report 2015 published by global shipping consultancy Drewry.

Asia-Europe Box Rates Plunge 27 pct

Image: file photo (Maersk)

Shipping freight rates for transporting containers from ports in Asia to Northern Europe fell by 26.7 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.

Maersk to Boost Asia-Euro Box Rates Sharply

File Image (Maersk)

The world's largest container shipping company, Maersk Line, plans to raise spot freight rates sharply on main routes from ports in Asia to ports in northern Europe, with effect from Sep 1, the company said. Spot rates for twenty foot equivalent unit containers (TEU) will rise by $1,000

Asia-Europe Box Rates Plunge Again

Shipping freight rates for transporting containers from ports in Asia to Northern Europe fell by 23.2 percent to $640 per 20-foot container (TEU) in the week ending on Friday, one source with access to data from the Shanghai Containerized Freight Index told Reuters.

Maersk Cuts Growth Forecast

Photo: Maersk Line

 Though the Danish conglomerate AP Møller-Maersk posted higher-than-expected earnings, it has cut its forecast for global trade growth and abandoned several medium-term profit forecasts, as per a report in FT.   Maersk overcame low oil prices and freight rates in its container

Maersk Unveils $1 billion Share Buy-back Program

Photo: AP Moller-Maersk

 Denmark's AP Moller-Maersk, which operates the world's largest container shipping line,  has revealed another huge share buy-back scheme a year after it launched its current programme.   Maersk will buy back up to $1bn (DKK 6

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