Staff from four leading international forwarders have voted Hapag-Lloyd the best shipping line for 2012. Four leading international forwarders have crowned Hapag-Lloyd as their best partner as follows: Kühne + Nagel (“Best Carrier Award”) and DB Schenker (“Ocean Carrier of the Year”), now Hellmann Worldwide Logistics (“Global Carrier Award”) and Panalpina (“Global Ocean Freight Carrier Survey”) have awarded Hapag-Lloyd highest grades for quality and customer service. “These awards make us especially proud as they come from our customers’ staff, the people who work daily with Hapag-Lloyd worldwide: Those who can really judge and value the high quality of our services,” says Michael Behrendt, Chairman of the Executive Board of Hapag-Lloyd. More and more major shippers are having staff evaluate their most important suppliers using satisfaction questionnaires. “For one carrier to achieve the highest grades in four independent rankings is rare. At the same time the awards are proof of the great trust our customers have in us. This leads us to recognize our obligation to sustain this high level in the future,” says Michael Behrendt.
Singapore state investment company Temasek Holdings has put up its struggling $1.7 billion shipping company for sale, the Wall Street Journal reported, citing people familiar with the matter. Neptune Orient Lines Ltd (NOL), 65 percent-owned by Temasek, announced in February the sale of its logistics business to Japanese freight carrier Kintetsu World Express Inc for $1.2 billion. NOL's move to sell its logistics business had renewed market speculation of a sale of the entire company.
U.S. Transportation Secretary Norman Y. Mineta announced the successful completion of a test of new technology that will help to secure cargo containers entering ports and border crossings throughout the United States. The test, carried out through the U.S. Department of Transportation’s Intelligent Transportation Systems (ITS) program, involved the use of electronic seals (E-Seals), a radio frequency device that transmits shipment information as it passes reader devices and indicates if a
Trade association Interferry is mounting a membership drive with ro-ro operators among key targets in a further move to strengthen its representation at the International Maritime Organization. Interferry, which has had IMO consultative status since 2003, recently became an associate member of the influential International Chamber of Shipping (ICS) and has just set up a regulatory committee to direct safety and environmental submissions by its newly expanded delegation.
Singapore Sovereign Wealth Fund Temasek Holdings has put Neptune Orient Lines (NOL) up for sale, says a Wall Street Journal (WSJ) report. The WSJ reported that Temasek was in talks with one buyer in recent months but the two sides could not agree on a price for the loss-making company. The WSJ put NOL's market capitalization at 2.3 billion Singapore dollars ($1.7 billion). The report, citing unnamed sources
Neptune Orient Lines Ltd (NOL) has officially confirmed that it is a takeover target of two separate companies: French shipping company CMA CGM and Danish conglomerate AP Moeller-Maersk. As per a report in the Business Times, NOL said in an announcement on Saturday evening that it was in preliminary talks with the two "with respect to a potential acquisition of NOL".
A short-lived revival in rates still means rich pickings for shippers coming into the transpacific contracting season, but beware the capacity crunch to come. Shippers should not lose sleep over the recent, short-lived jump in spot rates, but ought instead focus on ways to mitigate the risk of another sudden capacity crunch later in the year, urges Drewry Maritime Research. Freight rates on east-west trades have been in the ascendency of late
PwC US today announced the addition of John Donahue as a director in the firm’s transportation and logistics sector within the larger Industrial Products practice. With more than 25 years of experience in all aspects of the transportation and logistics industry, Donahue will be responsible for leading the freight-related segments for the firm’s transportation and logistics engagements. According to PwC, Donahue will help freight transportation companies implement new business
Global shipping consultancy Drewry predicts the container ship industry will be "lucky to break even this year" as shipping rates slump due to catastrophic overcapacity. A toxic mixture of overcapacity, weak demand and aggressive commercial pricing is threatening liner shipping industry profitability for the rest of 2015. Drewry’s new view of the market revises its earlier forecast that carriers would collectively generate profits of up to $8 billion in
Downsizing of capacity on the Asia-ECSA trade has paid dividends to carriers with much improved freight rates; why isn’t the scalpel also being used on other routes? In container shipping it is said that freight rates fall much further and quickly than they rise in the opposite direction. Most often a sudden rate decrease will take carriers months, or longer, to painfully recover losses.
Brazil-China rates climb to a 15-month high; about 80 capesize, panamax ships waiting to unload around Tianjin. Freight rates for large capesize dry cargo ships on key Asian routes are likely to remain firm for at least two more weeks as bad weather conditions in China and Australia help
Spot container freight rates on the major East-West routes reached a 20-month high this week and have risen above the average of the last 5 years, said a report by Drewry. The latest weekly reading is $1,770/40ft container for the composite index
Spot container freight rates on the major East-West routes reached a 20-month high this week and have risen above the average of the last 5 years. The latest weekly reading is $1,770/40ft container for the composite index, reflecting increases on individual lanes to $1
Laugfs Maritime Services, the shipping division of Sri Lanka’s Laugfs Gas, has purchased its third Liquefied Petroleum Gas (LPG) carrier vessel for USD 2.875 million, reports Lanka Business Online quoting company sources.
OL International Holdings LLC (OL International) today announced the renaming and rebranding of TTS Worldwide as OL USA. Effective February 1st, 2017, the change is the latest and most symbolic development in an aggressive, multi-year strategic expansion plan for OL International’s
Just handful of ships for Brazil loading in early January; coal, South African iron ore cargoes support rates. Freight rates for large capesize dry cargo ships on key Asian routes could diverge with rates from Brazil to China nudging higher on a shortage of tonnage and those from
In the shipping world, ‘Santa’s Sleigh’ is the big containership fleet, which carries the goods from manufacturers in Asia to the retailers in Europe and North America in good time for consumers to prepare for the holiday season, says Clarksons Research.
34 VLCC MidEast cargoes fixed for early Jan -Reuters terminal; only nine fixed so far for mid-Jan. Freight rates for very large crude carriers (VLCCs), which hit a new nine-month high this week, are on course to soften amid a weaker cargo market as owners wait for more charters to be
The upcoming reorganization of global shipping alliances is likely to hit Korea’s largest port in Busan and the harbor volume of Busan Port is expected to drop by 3.5 percent from next year, the Korea Herald reported quoting Korea Maritime Institute (KMI)’s report.
Sino-Global Shipping America, a non-asset based global shipping and freight logistic integrated solution provider, has announced the signing of an Inland Transportation Agreement with COSCO Beijing International Freight Co in which COSFRE Beijing will utilize the Company's
The port of Antwerp will close 2016 with an expected record volume of more than 214 million tonnes of freight handled. The shipping container volume for its part has risen above 10 million TEU (twenty-foot equivalent units, i.e. standard containers) for the first time in the history of the port
We are in the midst of a revolution over port infrastructure. This revolution is not about the role of ports as silent engines for our economy and the need for better intermodal infrastructure. Rather, it is about why governments – local, state and federal – believe ports exist
TFI International Inc., formerly known as TransForce Inc., a North American leader in the transportation and logistics industry, has announced that a wholly-owned subsidiary of TFI International has acquired Brampton, Ontario based National Fast Freight (NFF) from Calyx Transportation Group
A report forecasts the global container fleet market to grow at a CAGR of 3.19% during the period 2017-2021. The report says key vendors in the market are Maersk, CMA CGM & MSC. To calculate the market size, the report by Research and Markets considers volume based on
Maersk, the world's largest container shipping line, has teamed up with Alibaba to allow customers to reserve space on its vessels through the Chinese company, illustrating growing cooperation between e-commerce and logistics firms.