Electrolux News

The United States on Tuesday launched a multinational operation to safeguard commerce in the Red Sea as attacks by Iran-backed Yemeni militants forced major shipping companies to reroute, stoking fears of sustained disruptions to global trade.The Houthi militant group, which controls vast amounts of territory in Yemen after years of war, has since last month fired drones and missiles at international vessels sailing through the Red Sea - attacks it says respond to Israel's devastating assault on the Hamas-ruled Gaza Strip.This week…

The Zero Emission Maritime Buyers Alliance (ZEMBA) has launched a Request for Proposals (RfP) for 600,000 TEUs over a three-year period on ocean vessels powered by zero-emission fuels.This will help its member companies reduce nearly one million metric tonnes of carbon emissions, equivalent to taking 215,000 cars off the road. The RfP is the first major buyer-led initiative to accelerate the transition to zero-emission maritime fuels. ZEMBA was launched as a nonprofit membership organization in March 2023 by the Aspen Institute…

Maersk raised its 2022 profit guidance for a second time on Tuesday after beating quarterly revenue expectations as congested global supply chains that have boosted freight rates persist longer than expected.The shipping industry has seen record profits in recent quarters due to a surge in consumer demand and pandemic-related logjams holding up containers in key ports in China, Europe and the United States."Congestion in global supply chains leading to higher freight rates has continued longer than initially anticipated…

The container shipping segment appears to have caught coronavirus, with the industry suffering its first monthly fall in long-term contracted ocean freight rates since October 2019. According to the latest XSI Public Indices report from Xeneta, March 2020 saw a small dip of 0.5% in rates after a sustained period of growth. Although these symptoms look mild, the future is characterized by growing uncertainty, with widespread economic disruption and looming global recession likely…

Inland Dredging Company helps keep commerce flowing on America’s inland waterway system.Dyersburg, Tenn. based Inland Dredging Company completed dredging projects spanning eight states and across four U.S. Army Corps of Engineers Districts. Beginning in July and finishing in December (2019), Inland Dredging crews dredged ports and harbors along the Mighty Mississippi River, Ouachita River, Red River, Black Warrior River, Atchafalaya River, Tennessee–Tombigbee Waterway, and the Gulf Intercoastal Waterway from Apalachicola to Morgan City.Richard Jackson…

The ongoing trend of downward pressure on long-term contracted ocean freight rates appears to have been broken, or at least temporarily derailed, with marginal increases seen across the board in November.According to the latest XSI Public Indices report from Xeneta, which provides unique business intelligence based on real-time crowd-sourced data from the world’s leading shippers, global rates climbed by 0.9% over the last month. This disrupts a long-term pattern of decline that, with the exception of a sizable and unexpected rise in May, has been ongoing since Summer 2018.Oslo-based Xeneta’s XSI Public Indices report utilities over 110 million data points, covering over 160,000 port-to-port pairings, to provide unparalleled insight into the very latest market moves.

Look beneath the surface of a relatively calm month for long-term contracted ocean freight rates and, says Oslo-headquartered Xeneta, industry observers will see a maelstrom of activity, adjustments and market uncertainty.According to the latest XSI Public Indices report from Xeneta, the leading ocean freight rate benchmarking and market analytics platform, July saw a marginal decline in rates of 0.4%, with a marked fall in the Far East export benchmark. Meanwhile US exports and European imports performed well.The global index has now fallen by 2.4% since its all time high in May this year…

Ocean freight rate benchmarking platform Xeneta unveiled public indices delivering monthly insights on long-term ocean freight rate development.Oslo-based ocean freight rate benchmarking and market intelligence company  is utilizing its database of over 85 million contracted freight rates to deliver a unique monthly snapshot of long-term rate developments in the container industry.The new Xeneta Shipping Index (XSI) Public Indices report, launching today, provides a detailed overview of the busiest global trade corridors, allowing users to gauge regional developments and track trends for key markets.In June this year Xeneta debuted the full version of the XSI index-linked contracting product.

Xeneta, the leading ocean freight rate benchmarking and market intelligence platform, is launching a product offering that aims to transform the way shippers, freight forwarders and carriers conduct freight rate negotiations. The Oslo headquartered firm has created a new offering, Xeneta Shipping Index (XSI) that allows all parties to set rates at transparent, efficient and fair prices that directly follow market fluctuations. This ensures all stakeholders get the right price for their products and services, relationships are improved and complex, time-consuming negotiations become efficient. “After several years working closely with cargo buyers and sellers…

Hamburg Süd and its Swedish customer Electrolux are teaming up to reduce sulfur dioxide emissions in ports. During its layovers in Manzanillo, Mexico; Callao, Peru; and Iquique and Puerto Angamos, Chile. Between March 11 and 24, the 7,114 TEU containershp Santa Catarina voluntarily used cleaner marine gas oil (MGO) instead of standard heavy fuel oil (HFO) to operate its auxiliary engines and boilers. Hamburg Süd and Electrolux already carried out a fuel upgrade in the past, thereby making a contribution to environmental and health protection. Due to the significantly lower sulfur content of MGO, the sulfur dioxide emissions for the Electrolux cargo in question will decrease by over 95 percent. The project is being financed by both companies.

The New York Shipping Exchange (NYSHEX), the container shipping industry’s solution for digital and enforceable freight contracting,  has announces the appointment of new members to its board of directors and launch of the governing NYSHEX Member Council. This announcement follows the Federal Maritime Commission’s (FMC) December 2, 2017 approval of the NYSHEX governance model. NYSHEX now ushers in a fair, transparent and compliant process to ensure the interests of members are incorporated into the operation of the exchange. "With this we add four industry representatives to the NYSHEX board of directors, two seats filled by shipper members (BCOs or NVOCCs) and two by carrier members.

Hamburg Süd has been honored with the “Electrolux Supplier Award 2014” in the category “Global Logistics”. Presentation of the prize was held at Electrolux AB’s headquarters in Stockholm in mid-November. Dr Ottmar Gast, Chairman of the Executive Board of Hamburg Süd, and Philip Oetker, General Manager Commercial Region Europe, accepted the award on behalf of Hamburg Süd. Hamburg Süd was awarded top marks in quality of service, on-time delivery, performance, cost competitiveness and sustainability practices.

Georgia Gov. Nathan Deal, Atlanta Mayor Kasim Reed and Georgia Ports Authority Executive Director Curtis Foltz gathered Tuesday, October 25, for a panel discussion at the Georgia Chamber of Commerce’s third annual State of the Port event in Atlanta. The three leaders spoke about the ports’ impact on jobs and commerce, their importance to the Southeast’s economic future and the need to deepen the Port of Savannah. In FY2011 alone, more than 1,500 new port-related jobs and $295 million in investment were created in the Atlanta region, according to new figures released today by the Georgia Department of Economic Development. “Elected officials from both sides of the aisle and business leaders from all corners of the state understand the significance the ports have as an economic engine,” Gov.

SatPoint a provider of maritime broadband and GSM services, has received new funding through a directed issue to the Swedish investment companies Itum Invest AB and Ponderus Invest AB. The two companies are together holding the majority of shares in SatPoint. Itum Invest will be represented on the Board of Directors by Michael Olsson and Kenth Eriksson. Mr Olsson and Mr Eriksson are leading industrialists and executives with backgrounds in white goods multinational Electrolux and as founders of Tradimus, an industrial logistics and support service provider, which they successfully led to a turnover of 400 m euro. Ponderus Invest will be represented by Peter Edwall. Edwall is a prominent Swedish fund manager with 25 years of close relations to the Nordic shipping industry.

The world's marine insurers collectively lost $3 billion in 1999, Norway's Central Union of Marine Underwriters (CEFOR) said. Cefor's calculation uses the collective experience of marine insurers in Norway - one of the world's major marine insurance markets - and extrapolates the results to the global industry. Cefor's md said that not even in their previous worst case estimates did CEFOR anticipate anything like this. The principal reason for the losses is continuing reduction in insurance premium rates, said Formso. On CEFOR's current estimates, rates in 2000 have dropped to 31 per cent of their 1994 levels. Hvide Marine Inc. Hvide Marine Inc. said last Monday that chairman and CEO Jean Fitzgerald has been hospitalized with a heart condition and was to undergo surgery.