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.
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
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
As a response to the marine market's demand for higher power concentrations and increased plant reliability, deliverable at competitive cost, the new offering from Rolls-Royce is stimulating fresh interest within a conservative shipping industry in gas turbine-based solutions. Building on the company's huge investments in aero engine technology over the past decade, the MT30 gas turbine has been specifically prepared for shipboard applications
Some shipping brokers expect spot freight rates for Panamax bulk carriers to decline next spring when a large number of new bulk carriers enter service. About 100 newly built bulk carriers with cargo capacities of 50,000 to 80,000 tons are to be delivered in 2001, up from about 70 vessels this year, possibly causing rates to fall, the brokers said. Spot rates for Panamax bulk carriers for the U.S. Gulf/Japan route have recently risen to three-and-a-half year highs.
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
Ocean freight rates for cargo moving under contracts on the major East-West routes have seen a sharp reduction since the beginning of the year, according to Drewry’s Benchmarking Club, a closed user group of multinational retailers and manufacturers who closely monitor their contract freight
Nigeria's latest effort to combat theft could imperil its oil income lifeline, compounding the damage the crude price fall has done to its finances, access to dollars and imports. Oil traders and shipping brokers said a newly implemented "letter of comfort" requirement under which
Weak holiday demand to pressure rates lower. Rebound seen after China returns to market on Oct 8. Freight rates for capesize bulk carriers could come under pressure next week as lower cargo volumes due to holidays in China thwart shipowners efforts to push rates higher, ship brokers said.
UK P&I Club, a shipping protection and indemnity mutual insurers, and TT Club, an international transport, freight and logistics insurance provider, have welcomed the amendment to the Safety of Life at Sea Convention (SOLAS) from the International Maritime Organization (IMO) on the
Greecarrier Freight Services and CMA-CGM Scandinavia target 30 percent joint CO2 emissions reductions by 2020 Logistics company Greencarrier Freight Service and shipping company CMA-CGM Scandinavia have initiated a long-term collaboration project to cut joint CO2 emissions by 30 percent
Shipowners confident rates will climb on tighter tonnage supply; Shipowners seek rates premium for Australian coal cargoes. Freight rates for capesize bulk carriers could continue to recover as ship owners scent the possibility of higher cargo volumes on tighter tonnage supply, ship brokers said
The Port of Dover is turning to a raft of futuristic traffic sensors to keep billions of pounds of trade and millions of passengers on the move. Equipment known as BlipTrack, developed by Denmark-based BLIP Systems, is helping controllers at Europe’s busiest ferry port to reduce
All stocks under Drewry Maritime Equity Research (DMER)’s dry bulk coverage were down and recorded double-digit negative returns, taking cues from vessel earnings. The BDI shed its gain of the previous two months and nudged down 20% m/m in August led by a fall in the Capesize
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
Record high stocks of fuel oil in Singapore are pushing traders to store the shipping and feedstock fuel into tankers temporarily as demand slows regionally. At least seven very large crude carriers (VLCCs) have been provisionally fixed to store fuel oil on short-term time charters
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
The Federal Election is an important opportunity to boldly support the marine industry as a means to sustainable Canadian growth. During this election and post-election period, political leaders are urged to build upon Canadian domestic shipping for the Canadian economy and sustainable economic
Shipping freight rates for transporting containers from ports in Asia to Northern Europe fell 31 percent to $313 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.
China's slower growth and economic transition will pose significant risks for the already struggling shipping sector, rating agency Fitch said. The shipping sector is already faces overcapacity, weak freight rates and stretched financials.
Daiichi Chuo liabilities total $1.5 bln. Second dry bulker to seek bankruptcy protection this month. Japanese bulk carrier Daiichi Chuo Kisen Kaisha said on Tuesday it had filed for protection from creditors - the second shipper to do so this month - with analysts predicting more failures if