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Freight Carriers

Hapag-Lloyd Gets Four of the 'Best'

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.  


Temasek to Sell Neptune Orient Lines

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.


Tests on New Technology To Secure Cargo Movement

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


Interferry Seeks Ro-Ro Recruits to boost IMO Voice

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.


$1.7 billion NOL Up for Sale. Will Hapag-Lloyd Buy?

Photo: NOL Group

 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


NOL in Acquisition Talks with CMA CGM, Maersk

Photo: Neptune Orient Lines Ltd

 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".    


Wave of New Bulk Carriers Expected to Upset Freight Rates

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.


Container Freight Rates Gain

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


Donahue to Direct PwC Freight Transportation

John Donahue

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


Container Ship Industry ‘Lucky to Break Even' in 2015,

Image: Maersk Line

 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


Amazon Expands Logistics Reach in China

Amazon.com Inc is aggressively expanding its logistics operations in China as part of a broader effort to control the rising cost of shipping billions of packages.   Its plans in China, outlined in filings there, include handling cargo and customs for goods headed to ports in Japan


Obama’s Budget ‘Grossly Imbalanced’ For US Ports -AAPA

Kurt Nagle (Photo: AAPA)

Landside freight transportation funds would increase; navigation, port security and emission reduction funds would drop    The American Association of Port Authorities (AAPA) said today it is encouraged by the potential of significant gains for landside freight transportation programs


Maersk Line to Face Miserable 2016

Nils Smedegaard Andersen, Group CEO. Photo: Maersk Group

 In a video interview Group CEO of AP Møller-Maersk Nils S. Andersen comments on the 2015 full year result, low oil and freight rates, and the challenges and opportunities for the Maersk Group in these difficult markets.  


Maersk Falls into the Red

Photo by Maersk Line

 Maersk Line posted a steep decline in profit last year to $1.3bn, well down from the 2014 result of $2.3bn and below its most recent forecast as freight rate declines accelerated in the latter stages of 2015.   The net profit of Maersk Group in 2015 amounted to 0


Asia-Europe Box Rates Fall Again

File Image (Maersk)

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.


Baltic Index Continues Fall to New Record Low

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying industrial commodities, continued its fall to close at a fresh record low on Friday.   The overall index, which gauges the cost of shipping dry bulk including iron ore, cement, grain, coal and fertiliser


U.S. Seaports: Cargo Volumes Rise 3.1%

(Photo: Greg Trauthwein)

Seaports are seeing a steady rise in waterborne cargo volumes according to new numbers from U.S. Army Corps of Engineer’s report. Overall, 2014 freight tonnages increased 3.1 percent over 2013 totals. The Corps of Engineers’ Waterborne Commerce Statistics Center tracks the commercial


NYK Line Posts Loss on Dry Bulk Fleet Revaluation

Image: NYK Line India

 Japan's Nippon Yusen Kaisha (NYK) has posted a $277.5mln extraordinary loss in the third quarter of year ended 31 March 2016 as it reduced the book value of its fleet inline with current market prices and expectations. The extraordinary loss came after it re-assessed the recoverable value of


Cautious Optimism in LPG Shipping: Dorian LPG

Photo: Dorian LPG

 Global liquefied petroleum gas (LPG) export volumes for the calendar 2015 reached 80 million metric tons, an 11 percent increase over the previous year.    U.S. LPG exports alone reached a record of nearly 21 million metric tons


NVOCCs Form US-South-Africa Partnership

CaroTrans, a global non-vessel operating common carrier (NVOCC) and ocean freight consolidator, has entered a partnership with Thrutainers International, an established NVOCC in South Africa. This cooperation creates a U.S.- Sub-Saharan Africa import/export LCL service network in this important


Dramatic Turnaround for Hanjin Shipping in 2015

Photo: Hanjin Shipping

 The Korean shipping giant Hanjin Shipping  improved its financial result in 2015 and came back to profit trajectory.    It reported a $6m net profit in 2015 from a $396m loss the previous year and said it expects cost-saving measures to help it weather a tough 2016.  


Asia Dry Bulk-Capesize Rates Should Remain Flat

Western Australia-China rates hit near 17-year low; owners explore laying-up ships. Freight rates for capesize bulk carriers on key Asian routes should remain flat next week as the Lunar New Year holiday in China will curtail chartering activity, shipbrokers said on Thursday.


Baltic Index Slips Below 300 Points

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying industrial commodities, slipped below 300 points on Thursday, to an all-time low.   The overall index, which gauges the cost of shipping dry bulk including iron ore, cement, grain, coal and fertiliser


Dry-Bulk Shipping: Hitting the Bottom

Photo: China COSCO Bulk Shipping (Group) Co

 Dry bulk shipping companies being hit the hardest on account of the deteriorating business climate are likely to be swept by a new wave of bankruptcies, reports Nikkei.   The global commodities bust has rocked the dry-bulk shipping industry


Asia-Europe Box Rates Down 8 pct

The containership Maersk Kalmar. Maersk controls around a fifth of containers transported from Asia to Europe. (file image)

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.






 
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