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Line Announces

Greek Court Sets New Deadline for Royal Olympic Cruise Lines

Royal Olympic Cruise Lines announced that the Greek court administering the section 45 proceeding regarding its subsidiaries has allowed the company an extension until Thursday, February 12, 2004, to reach agreement on a plan of restructuring with the holders of at least 51% of outstanding obligations. The company is in negotiations with its major creditor, Fortis Bank, which itself holds more than 51% of the total obligations. In addition the company announced that it has put all administrative staff in Greece on unpaid leave pending the outcome of the court ruling and discussions with financial institutions and various creditors.


Maersk Line General Rate Increase

Maersk Line announced that unsustainable rates and continued improved demand led to rate increases effective 1 May 2009. The filed increases are as follows on eastbound services from Northern Europe, North Africa and Mediterranean to the Middle East and South Asia: - USD 100 per 20' dry container - USD 200 per 40' dry container The increase applies equally to all cargo and commodities, excluding reefers.


Chinese Authorities Raid Container-Shipping Firms

Photo: Maersk Line

China's National Development and Reform Commission  (NDRC) is visiting several major container shipping lines’ offices in Shanghai and throughout the country as part of its surcharges investigation.   According to local media reports, NDRC investigators have been combing through emails and files at many liner carrier offices  since Friday.   In September 2015, the Chinese government said that lines had been charging too much for things like bills of lading custody


Troy Container Lines Secures Rotterdam Agent

American-owned NVOCC Troy Container Line announced it has secured a new agent partnership agreement with Rotterdam-based NVOCC NVO Consolidation for both LCL and FCL import and export consolidation services.   “NVO Consolidation has an all-star team of logistics professionals from the Rotterdam market,” commented Chris Hellow, Troy’s COO of Imports. “I am very excited about this new partnership and looking forward to working closely with the NVO Consolidation


New Mississippi Riverboat Launched

Photo courtesy of American Cruise Lines

American Cruise Lines announced today that it launched the new paddlewheeler being built for the Mississippi River at Chesapeake Shipbuilding in Salisbury, Maryland. Immediately after being launched Sunday into the Wicomico River, tugboats nudged the new riverboat into Chesapeake Shipbuilding’s East Outfitting Basin where the upper decks and outfitting will be completed. “This is a significant milestone in the construction process and also for American Cruise Lines


New RoRo Added to SC Line Fleet

RoRo MV Mosel Ace: Photo credit SC Line

SC Line announces the addition of another 1/4 ramp RoRo vessel into its fleet, MV 'Mosel Ace'. In line with its strategic and strengthening position in the Americas, SC Line introduces Mosel Ace to serve initially the US East coast from Baltimore to Zarate where it would reposition in the short term to call specific ports between Colombia, Argentina and Brazil. The new ship is 176m in lenght, 31m breadth, and of 12,743 dwt, equipped with a 120 mt 1/4 ramp.


Maersk Increase Transatlantic Container Rates

Maersk Line announce that they find it necessary to implement general rate increases from the base rate. The new container freight rates will be effective 1, April 2013 as follows: US to Northern Europe General Rate Increase: USD 200/300/300/300 per 20′/40′ standard/40′ high cube/45′ high cube dry Northern Europe to East and Gulf Coast of US General Rate Increase: USD 200/300/300/300 per 20′/40′ standard/40′ high cube/45′ high cube


Maersk Line Reaches 2020 CO2 Target

Maersk Line announced that it reached its 2020 target of reducing CO2 emissions by 25% from its benchmark 2007 levels.   “We are proud to hit this mark 8 years ahead of schedule. It is confirmation we’re on the right track. And to keep that momentum we’re raising the target to a 40% reduction in CO2 by 2020,” says Morten Engelstoft, Chief Operating Officer, Maersk Line. “Maersk Line’s focus on energy efficiency has made the company significantly


'Queen of Mississippi' Heads for New Orleans

Queen of the Mississippi Photo credit American Cruise Lines

Repositioning cruise follows early completion of American Cruise Lines’ 'Queen of the Mississippi' authentic riverboat construction   Newly built and completed, American Cruise Lines' Queen of the Mississippi docked at Chesapeake Shipbuilding in Salisbury, MD, before leaving for New Orleans.   American Cruise Lines announce that its brand new authentic paddlewheeler, Queen of the Mississippi, has received its Coast Guard certificates and six weeks ahead of schedule has left


Carnival Gives RCCL A Run For Its Money

Exactly one month to the day that P&O Princess and Royal Caribbean Cruise Lines announced that they would merge to form a $6 billion cruise corporation, Micky Arison's powerhouse Carnival Corp. approached P&O with a $4.59 billion proposal. As reported in today's Wall Street Journal, P&O Princess, which initially rejected Carnival's offer, has now reconsidered and is currently weighing all its options of a possible merger with the "world's largest cruise line


Maersk Line Launches Latin America, Asia Service

Image: Maersk Line

Maersk Line announced changes to its AC network with the launch of its AC1 service, connecting the West Coast of Latin America with Asia, beginning at the end of June.   According to Maerks Line, the AC1 service, connecting the West Coast of Latin America to Asia


CMA CGM Aims to Cut Costs by $1 Bln

Photo: CMA CGM

France's CMA CGM, the world's third-largest container shipping firm, reported a first-quarter net loss on Friday and targeted $1 billion in cost cuts to keep operating margins positive during the current market downturn.   Weak freight rates in the past year have left many lines operating


CMA CGM Doubles Liverpool Feeder Capacity

Courtesy Peel Ports Containers

CMA CGM has increased the capacity on its West Coast Feeder service via Liverpool to 2200 TEU from 900 TEU. M.V. Nicolas Delmas began calling at the port in April. The service begins in Antwerp and also calls at Greenock, Belfast, Dublin and Le Havre.  


Fitch: M&A, Not Alliances to Help Revive Container Shipping

File Image: a containership at the berth in the Port of Savannah, GA (credit: GPA)

The following statement was released by the rating agency: Mergers and acquisitions, rather than the historically more popular alliances, are inevitable to address chronic overcapacity and drive further cost savings in container shipping, Fitch Ratings says


Pitbull Named Godfather of Norwegian’s New Cruise Ship

Pitbull (Photo: NCL)

Norwegian Cruise Line announced today that musician Pitbull will serve as godfather for its newest ship, Norwegian Escape, slated to be christened next month in Miami.   On Monday, November 9, Armando Christian Perez, aka Pitbull, will be the honorary godfather and headline performer at a


Pearl Seas Cruises Adds Voyages to Cuba

Pearl Mist (Photo: Pearl Seas Cruises)

Pearl Seas Cruises plans to launch a series of “cultural voyages” from the United States to Cuba beginning in the spring of 2016, the cruise line announced today.   Offering 7- to 10-night voyages aboard the line’s newest vessel, the 210-passenger luxury ship Pearl Mist


American Cruise Lines Names New Riverboat

American Cruise Lines announced the name of its new Mississippi paddlewheeler – America – currently under construction at Chesapeake Shipbuilding in Salisbury, Md.   The America is American built, flagged and crewed, which is symbolic of the true all-American experience


Maersk Returns to the Port of Baltimore

Photo: Maryland Dept. of Transportation

Maryland Lt. Governor Boyd Rutherford, along with congressional, state and local officials, officially welcomed Denmark-based Maersk Line, part of the Maersk Group and the world’s largest container shipping company, to the Helen Delich Bentley Port of Baltimore.  


Maersk Orders 11 Triple-E Containerships

Søren Skou, CEO of Maersk Line, and Sung-Leep Jung, President and CEO of DSME, at a ceremony at Maersk Line’s headquarters in Copenhagen (Photo courtesy of Maersk)

Maersk Line announced it has today ordered 11 new ultra-large second generation Triple-E containerships from Daewoo Shipbuilding & Marine Engineering (DSME).   Ordered to replace smaller, less efficient ships in the Maersk Line fleet


SFL Sells its Holding in Horizon Lines

Photo: Horizon Lines

Ship Finance International Limited (SFL) has sold its holding of notes and warrants in Horizon Lines, Inc. for net cash proceeds of approximately $72 million.   In April 2012, Ship Finance received $40 million of Horizon Lines second-lien notes and 9


Neptune Orient Lines Sells Logistics Business

Photo: APL Logistics

Neptune Orient Lines sells APL Logistics to Kintetsu World Express   Neptune Orient Lines Limited (NOL) announced that it has completed the sale of its logistics business, APL Logistics Ltd (APLL), to Kintetsu World Express, Inc. (KWE) for an aggregate purchase price of $1


MOL Joins 2M on Asia-ECSA Trade

Image: Mitsui OSK Lines

 Maersk Line announced that it has entered into Vessel Sharing Agreement (VSA) with Mediterranean Shipping Company (MSC) and Mitsui O.S.K Lines (MOL) on the Asia to East Coast of South America trade.   Two loops are covered under the agreement and will be served by 22 vessels in total


Joint China-Surabaya Container Service Launched

Evergreen Line announced it will partner with COSCO and China Shipping in launching a joint China-Surabaya Express (CSX) Service.   Evergreen said this comes in view of the increasing market demand resulting from significant trade growth between China and the ASEAN countries


Underway on LNG

Dennis Bryant

On 17 January 1955, Commander Eugene P. Wilkinson, USN, the first Commanding Officer of USS Nautilus (SSN 571) signaled the memorable and historic message “Underway on nuclear power.”  Underway on LNG has an opportunity to signal an equally significant change in the merchant


Riverboat to be Christened in New Orleans

First Lady of New Orleans, Cheryl Landrieu, to Christen American Cruise Lines’ American Eagle riverboat   American Cruise Lines announced the christening of its second Mississippi River paddlewheeler, the American Eagle, on April 25, 2015 in New Orleans






 
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