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Liner News

14 Mar 2024

Hapag-Lloyd to Seek Cost Cuts After Net Profit Slump

© olrat / Adobe Stock

German container shipper Hapag-Lloyd said on Thursday the global oversupply of container ships and a crisis in the Red Sea will force it to cut costs in 2024, adapting sailings and ports following a bruising 83% fall in net profit.Ship operators face prolonged disruption while Yemen-based Houthi militants are attacking vessels travelling on one of the world's busiest routes, wiping out the benefit from higher freight rates with costly redirections around Africa.Hapag-Lloyd's problems chime with those of competitors such as Maersk and CMA CGM, exacerbated by the arrival of additional ships orde

13 Mar 2024

Ships Above 12,000 TEU Drive 100% Increase in Average Ship Size

Source: BIMCO

Since 2006, the average container ship has doubled in size to 4,580 TEU and ships with a capacity of more than 12,000 TEU has accounted for 51% of the fleet’s capacity expansion. Today, just 626 ships provide 36% of the fleet’s capacity, and the trend is set to continue as the large ships dominate the order book, says Niels Rasmussen, Chief Shipping Analyst at BIMCO.When the Emma Maersk was delivered in August 2006, the ship was by far the largest container ship in the world. It is 400 metres long, 56 metres wide and has a capacity of about 17,800 (14,000 TEU when delivered).

03 Mar 2024

Eight Japanese Ports Join The Green Award

Source: The Green Award

The Green Award Foundation has announced that eight ports managed by the Osaka Ports and Harbors Bureau have joined as new Incentive Providers, offering discounted port fees to Green Award certified vessels that call their ports.This expands The Green Award’s network to 47 ports incentivising safety and sustainability in shipping globally.Among the eight new Japanese ports are the Port of Sakai-Senboku and Port of Hannan, two major industrial ports situated in the Osaka Bay. With a long history as trading hubs…

29 Feb 2024

KOTUG Takes Full Ownership of Its Bahamas Towage JV with SEACOR

(File photo; KSM)

KOTUG International, a marine services and towage provider based in the Netherlands, announced on Thursday it has concluded its acquisition of Kotug Seabulk Maritime (KSM), taking full ownership of the Caribbean marine towage business.KOTUG said it has acquired the interest of its joint venture partner, Fort Lauderdale, Fla.-based SEACOR Holdings via its Seabulk subsidiary KS Maritime Holdings, owner of the 50% share in KSM.Founded in 2017, KSM acts as the exclusive provider of maritime terminal support services for Buckeye Partners’ Bahamas Hub…

07 Feb 2024

Container Market Growth Modest in 2023

Image courtesy of CTS

In 2023, the container market grew 0.2% year-on-year, ending at 173.8 million TEU. Compared to 2019, before the COVID pandemic hit, the market grew 1.5%.“Container market growth has lagged behind overall economic development significantly, as the world economy has grown 10% since 2019,” says Niels Rasmussen, Chief Shipping Analyst at BIMCO.Highlighting the challenge for liner operators, the container fleet capacity in 2023 grew 21% vs 2019 and 8% vs 2022. The order book of new ships will add nearly 25% to the capacity during the next four and a half years.

07 Feb 2024

WSC Calls for Strengthened Commitment on Renewable Fuels

© EvrenKalinbacak / Adobe Stock

The European Commission's recommendation for the EU's 2040 climate targets, calling for a 90% net GHG emission reduction, are ambitious and critically important, especially following updates suggesting that EU 2030 goals may not be met, says the World Shipping Council (WSC).The climate targets point to the importance of providing renewable marine fuels for maritime sector decarbonization. Committing the EU to production of zero-GHG fuel pathways is essential, not least because European Member States account for one-fifth of global shipping energy sales…

02 Feb 2024

Seacor Sells Its Caribbean Liner Business

(File photo: SEACOR Island Lines)

SEACOR Holdings Inc. announced it has concluded the sale of its Caribbean liner and logistics business SEACOR Container Lines LLC (“SEACOR Island Lines”) to King Ocean Services Ltd. The transaction includes all operations and assets.King Ocean specializes in marine transportation and logistics solutions to close to 50 destinations across the Caribbean and South and Central America out of their Port Everglades facilities in Ft Lauderdale, Fla.“For 40 years, King Ocean, a multi-generational…

17 Jan 2024

Menoyo Joins Great Lakes Towing Company in VP Role

Salvadore Menoyo (Photo: The Great Lakes Towing Company)

The Great Lakes Towing Company (GLT) has hired Salvadore Menoyo for its business development team.Sal has been named Vice President-Special Projects, reporting to Joe Starck, President of GLT. He will be based in Jacksonville, Fla. and use his extensive experience and expertise to identify, develop and manage new business opportunities on the East Coast, including the Gulf and Puerto Rico. In this new role, Menoyo will work with internal and external customers and build relationships with partners and other prospects to bring value and growth to the company.Menoyo…

12 Jan 2024

Container Rates Soar on Concerns of Prolonged Red Sea Disruption

© aerial-drone / Adobe Stock

Container shipping rates for key global routes have soared this week, with U.S. and UK air strikes on Yemen stirring concerns of a prolonged disruption to global trade in Red Sea, one of the world's busiest routes, industry officials said on Friday.U.S. and British warplanes, ships and submarines launched dozens of strikes across Yemen overnight in retaliation against Iran-backed Houthi forces for attacks on Red Sea shipping, widening regional conflict stemming from Israel's war…

07 Jan 2024

Provaris Engages DNV for H2Neo Carrier Tank Review

Illustration of Prodtex’s robotic cell for the construction and testing of the prototype tank (Source: Provaris)

Provaris Energy has engaged DNV for the review and approval of its H2Neo carrier's proprietary hydrogen cargo containment system.Prototype tank construction and testing remains on track to commence in Q1 CY2024 with completion expected by the end of Q2 CY2024. Additional parties involved in the work program located in Norway include Prodtex for construction and SINTEF for prototype testing and reporting.Construction will include the use of two laser welding robots, one material handling robot, and a scalable, custom hydraulic jig that will be employed during construction.

19 Dec 2023

Markets Spike Following Houthi Attacks on Shipping

© Dragoș Asaftei / Adobe Stock

Continued missile attacks on merchant ships in the Red Sea have plunged supply chains into chaos, and consumers around the world will have to pay the price, according to Xeneta.Latest data from the industry analyst shows spot rates in the ocean freight shipping market spiked by 20% since Friday after major shipping liner companies such as Hapag Lloyd, MSC and Maersk announced they are avoiding the Red Sea amid the attacks by Houthi militia.Xeneta chief analyst Peter Sand said…

07 Dec 2023

Market Watch: Container Freight Rates Fall, Costs Soar

"So far this year, container volumes have fallen nearly 2% year-on-year while average freight rates have declined, reaching 2019 levels in September. Since then, they have continued to fall. However, the cost to charter a ship remains 25% higher than in 2019,” says Niels Rasmussen, Chief Shipping Analyst at BIMCO.Liner operators continue to struggle with a worsening supply/demand balance, affecting freight rates. On average, the fleet has year-to-date grown 5% and 19% compared with 2022 and 2019 respectively.

27 Nov 2023

Swire Projects Launches Transpacific Semi Liner Service

Source: Swire Projects

Swire Projects, the projects and heavy lift shipping arm of Swire Shipping, has officially launched a dedicated semi liner service connecting East Asia with the West Coast of North America.Previously offered on an ad hoc basis, the service will provide enhanced cargo connectivity and support the growing demand for reliable breakbulk and project cargo transportation into the West Coast and a gateway to the interior of the Continent avoiding the need to route cargo via the Panama Canal.Swire Projects' semi liner service connects the base ports of Qingdao and Taicang in China and ports en route…

17 Nov 2023

Seaspan Takes Delivery of New 15,500 TEU Vessel

(Photo: Seaspan Corporation)

Seaspan Corporation has taken delivery of Maersk Cleveland, the second of six new SAVER 15,500 TEU series vessels.The ship was delivered from China's Jiangnan Shipyard on November 15.Seaspan, a wholly owned subsidiary of Atlas Corp., announced contracts to build the six ships in March 2021 as part of a raft of new shipbuilding orders.Upon completion, each vessel will enter long-term charters with global liner customers.The series' first vessel, Maersk Charleston, was delivered earlier this year. The series' remaining ships are scheduled for delivery through mid-2024.

15 Nov 2023

Authorities Reviewing Evidence from Titan Submersible Tragedy

Coast Guard marine safety engineers conduct a survey of the aft titanium endcap from Titan in the North Atlantic Ocean October 1, 2023. (Photo: U.S. National Transportation Safety Board)

Authorities from the U.S., Canada and France are combing through evidence recovered from the Titan submersible that suffered a catastrophic implosion en route to the wreckage of the Titanic in June.Investigators from the U.S. Coast Guard, National Transportation Safety Board (NTSB), Transportation Safety Board of Canada (TSB) and the French Marine Casualty Investigation Authority (BEAmer) conducted an onsite evidence review in Newport, R.I., on November 8, as part of their respective…

08 Nov 2023

Varamar, COSCO Shipping Enter Strategic Commercial Partnership

Credit: Varamar

Varamar DMCC has entered into a strategic commercial partnership with ASL Shipping & Logistics Pvt Ltd, a COSCO Shipping Group company,  with the aim of helping both companies to strengthen their respective trades.Varamar, a liner and tramp carrier that specializes in breakbulk, dry-bulk, oversized, and containerized cargo, has historically focused on trade lanes connecting Europe with the Middle East, Asia, and the Far East, while also trading to Africa and the Americas. The recent expansion of Varamar to 10 international branches…

06 Nov 2023

Inchcape Acquires Full Ownership of ISS-McKay

(Photo: Inchcape Shipping Services)

Inchcape Shipping Services has acquired McKay Shipping Limited's share of ISS-McKay Limited, giving it full full ownership ownership of the joint venture that was set up in 2008to conduct core port agency business in New Zealand.ISS-McKay provides full coverage to the North and South Island of New Zealand through its network of eight port offices and 41 local staff, with market shares in cruise, dry bulk, tanker, liner and ship manager markets.As part of the joint venture, Inchcape Shipping Services established itself as the majority shareholder…

23 Oct 2023

Container Shippers in Store for Stormy 2024 - Xeneta

© TIMDAVIDCOLLECTION / Adobe Stock

Supply chains around the world could be at serious risk amid expected increases in the cost of ocean freight shipping during 2024.Oslo-based Xeneta has carried out in-depth analysis of the latest ocean freight rates and branded the current market as unsustainable.Xeneta CEO Patrik Berglund said: “The cost of moving goods by sea has plummeted during 2023 by almost 60% for long term contracts on a global level and some corridors, such as the Transatlantic into US East Coast and Far East to Europe…

10 Oct 2023

Titan Submersible Debris and Human Remains Recovered from the Seafloor

Coast Guard marine safety engineers assigned to the Marine Safety Center, working for the Marine Board of Investigation for the Titan submersible case, conduct a survey of the aft titanium endcap from Titan in the North Atlantic Ocean October 1, 2023. The endcap was recently recovered from the seafloor and successfully transferred to a U.S. port for analysis. (Photo: U.S. National Transportation Safety Board)

The U.S. Coast Guard on Tuesday said its engineers recovered remaining debris and presumed human remains from the imploded Titan submersible in the North Atlantic.The evidence recovered from the seafloor by marine safety engineers with the Coast Guard’s Marine Board of Investigation (MBI) was transferred to shore for analysis as part of ongoing investigations into the fatal incident.In June, the Titan imploded while on a voyage to visit the wreck site of the famed sunken ocean liner Titanic, killing all five people on board.

10 Oct 2023

Cargo Shipping to Lose EU Antitrust Exemption from 2024

© tiero / Adobe Stock

Cargo shipping companies will from next year no longer enjoy a decades-long exemption from EU rules against anti-competitive agreements because this derogation does not boost competition any more, EU antitrust regulators said on Tuesday.First adopted in 2009, the Consortia Block Exemption Regulation (CBER) allows liner shipping operators with a combined market share below 30% to team up to provide joint cargo transport services as long as they do not fix prices or share markets between themselves.The European Commission said it would let the exemption, extended in 2014 and 2020, to lapse in Ap

06 Sep 2023

UK Insurers Join Cargo Safety Initiative

Source: Lloyd's Register

Safetytech Accelerator, a non-profit established by Lloyd’s Register, has confirmed that UK maritime insurers, the UK P&I Club and TT Club, have signed up for its Cargo Fire & Loss Innovation Initiative (CFLII).The Initiative, launched in February 2023, is a multi-year collaborative technology acceleration program focused on reducing cargo fires and loss in maritime and its impact. It is already supported by anchor partners COSCO Shipping Lines, Evergreen Line, HMM, Lloyd’s Register…

04 Sep 2023

Hapag-Lloyd CEO: Transatlantic Shipping Trades Under Pressure

Source: Hapag-Lloyd

Transatlantic shipping freight rates have come under pressure from slack demand, meaning ship operators must watch costs, the chief executive of Germany's Hapag-Lloyd said on Monday."Rates have definitely collapsed, and that means we have to start looking at our costs, which have gone up," said Rolf Habben Jansen, CEO of Hapag-Lloyd, the world's fifth biggest container liner, in a call with journalists.He listed higher wage inflation, fuel prices, and terminal and timecharter costs, adding that the cost concerns could mean that certain voyages were cancelled.(Reuters - Reporting by Vera Eckert

01 Sep 2023

Intermarine and Jumbo-SAL-Alliance Set Up Hub in Chile

(Photo: Intermarine and Jumbo-SAL-Alliance)

Multipurpose carrier Intermarine and sister company Jumbo-SAL-Alliance (JSA) expand their presence in South America, opening a new office in Santiago.Intermarine and Jumbo-SAL-Alliance are joining Intermarine’s long-time agent, Marval, to form the new subsidiary JSA-Intermarine Chile. The first office to carry the name of both companies will be led by Nelson Matus, a veteran in the South American breakbulk and multipurpose sector with over 25 years of experience. Matus and his…

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