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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.


$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".    


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.


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


A Tale of Two Trades

Graph: Drewry

 Downsizing of capacity on the Asia-ECSA trade has paid dividends to carriers with much improved freight rates; why isn’t the scalpel also being used on other routes?   In container shipping it is said that freight rates fall much further and quickly than they rise in the opposite direction. Most often a sudden rate decrease will take carriers months, or longer, to painfully recover losses.   


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


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


FSRUs Provide Better Return Than LNG Carriers, Says Drewry

Graph: Drewry Shipping Consultants Limited

 Despite falling freight rates for floating storage regasification units (FSRUs), investment returns at current asset prices and charter rates are higher compared with standard LNG vessels, according to the latest edition of the LNG Forecaster report published by global shipping consultancy


Antwerp Port Container Freight Up by 2.5%

Photo: Port of Antwerp

 The port of Antwerp handled 111,385,518 tonnes of freight during the first six months of this year, 2.8% more than in the same period last year.    Container freight once more performed well after a number of exceptional years, with an increase of 2.5% in terms of tonnage and 1


Yang Ming to Float 500 mln Shares

Photo: Yang Ming Marine Transport

 The Taiwanese ocean carrier Yang Ming Marine Transport will make a public offering of 500 million shares as part of the company's ongoing recapitalization plan, the Taiwanese ocean carrier said in a statement .  It will offer the shares to existing shareholders


Firmer MidEast, WAfrica Sentiment Supports VLCC Rates

File Image (CREDIT: AdobeStock / (c) Carabay)

Middle East rates helped by fewer old vessels; about 96 MidEast cargoes fixed, 25 to come.   Freight rates for very large crude carriers (VLCCs) could rise next week on firm sentiment in the Middle East and West Africa markets but higher oil prices and fewer floating storage opportunities


Oil Spilled After U.S. Train Derailment

File Image: A typical Crude Oil train in the United states makes its way south along inalnd waterways. CREDIT: Dagmar Etkin

Canadian National Railway Co said about 20,000 gallons of oil was released following a freight train derailment at Plainfield, the U.S. state of Illinois on Friday, according to a filing with state pollution regulators.   The cause of the derailment was unknown


Asia Tankers-VLCC Rates Flat as Old and New Ships Compete

File Image (CREDIT: AdobeStock / (c) Carabay)

MidEast-Asia rates likely to remain flat until August; paper derivative trades show no uptick until October.   Freight rates for very large crude carriers (VLCCs) are likely to remain flat next week, a situation that could well last until August, brokers said on Friday.  


Public-Private Project Promises to Revive America’s Marine Highway

APH engineer incorporates patent-pending aspects allowing the LNG powered self-propelled self-docking vessels to travel without a wake. The radical technology being incorporated in the vessel design allows the loaded vessels to operate at a draught of less than 10 feet.

Plaquemines and American Patriot Holdings plan new container port-vessel system.   Plans are underway for a new 4,200-acre intermodal container terminal within the Port of Plaquemines Harbor and Terminal District. The project, a partnership (Exclusivity Agreement) between the Port and


Avance Gas Expects Weak 2017, Recovery from 2018

Peder Simonsen (Photo: Avance Gas Holding)

Shipping firm Avance Gas Holding , which transports liquefied petroleum gas (LPG), expects freight rates for its vessels to remain weak in 2017 despite an improvement in the last two weeks, the Oslo-listed firm said. A sharp influx of newly built very large gas carriers (VLGCs) pushed global


NYC Jobs Plan Aims to Bolster Freight Network

©Mihai Andritoiu / Adobe Stock

New York City Mayor Bill de Blasio today unveiled a series of initiatives aiming to spur 100,000 high-paying jobs over the coming decade across a number of sectors, including the City's maritime and intermodal freight and logistics industries.  


Baltic Exchange Mulls New Freight Indexes for Grains, LNG

© sarymsakov / Adobe Stock

The Baltic Exchange is looking into launching freight indexes for grains and liquefied natural gas (LNG) as the London-run business targets new markets after its acquisition by Singapore Exchange last year, the Baltic's chief executive said.  


‘Vintage’ Converted VLOCs Still Profitable -BIMCO

(Image: BIMCO, Clarksons)

With an average age of 23.8 years, the fleet of very large ore carriers (VLOC) converted from very large crude carriers (VLCC) is vintage compared to the average age of 5.7 years for non-converted ore carriers above 200,000 DWT, according to BIMCO.  


Tsuneishi Says Built 45 Ships Last Year

Photo: Tsuneishi Holdings Corporation

 Japan's Tsuneishi Holdings Corporation said that its  shipbuilding business output was nearly flat with the construction of 45 ships in the fiscal year ending December 2016.   However, ship orders declined markedly due to the impact of last-minute orders before environmental


VLCC Rates to Stabilise as Owners' Resolve Stiffens

File Image: CREDIT EuroNav

VLCC's likely to struggle to break even for next two months; three-tier VLCC market weighs on sentiment.   Freight rates for very large crude carriers (VLCCs) are likely to become steady around the current levels as owners resist charterers' attempts to pull down hire rates with the


U.S. Freight Recovery Spurs Diesel Demand

File Image: CREDIT AEP

U.S. freight movements have started increasing again, which should help boost consumption of distillate fuel oil in 2017 and 2018.   The tonnage of freight moved by road, rail, barge, pipeline and air cargo has been increasing year on year since October


Hapag-Lloyd Projects Higher FY '17 Earnings

File Image: CREDIT (port of Boston)

CEO sees closer supply-demand balance in shipping market; higher earnings forecasts upheld after wider net loss.   German container shipping firm Hapag-Lloyd on Friday said it should achieve higher earnings this year, based on expectations for a moderate increase in freight rates and cost






 
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