Container Shipping News

24 May 2019

Maersk Reports Higher Earnings for Q1

Pic: AP Moller – Maersk

Danish container shipping and logistics giant AP Moller – Maersk has closed the first quarter of 2019 with a 33% increase in earnings before interest, tax, depreciation and amortization (EBITDA) to USD 1.2bn while revenue grew by 2.5% to USD 9.5bn compared to Q1 2018. Operating cash flow improved significantly to USD 1.5bn and free cash flow was USD 3.5bn, including sale of shares in Total S.A.“We had a good start to 2019. In Q1, revenue grew by 2.5%, operating earnings improved by 33% and cash flow from operations doubled to USD 1.5bn.

24 May 2019

Trade Tension Hurts Shipping, Maersk Warns

CREDIT Maersk

A.P. Moller-Maersk, the world's largest container shipping company, warned on Friday that trade tensions and an economic slowdown are slowing growth in global freight.Maersk, which is seen as an indicator of global trade patterns, cut its forecast for global growth in container traffic this year due to the trade dispute between the United States and China."The recent escalation of the trade war induced by an increase in tariff rates and threats of implementing additional tariffs could take global container trade growth to the lower end of the 1-3% interval (range)…

22 May 2019

ZIM Cuts Q1 Net Loss

Pic: Zim

The Israel-headquartered container carrier Zim Integrated Shipping Services (ZIM) reported  a first-quarter net loss of $17.5 million compared with a net loss of $26.1 million in the first quarter of 2018.The global container shipping company said in a stock exchange annoucement that its first-quarter revenues were $796.2 million, an increase of 6% over the $751.4 million reported for the first quarter of 2018.In Q1 2019, ZIM carried 668 thousand TEUs (reflecting a decrease of 4.3% compared to Q1 2018)…

20 May 2019

Maersk Seafarer Goes Overboard

Pic: Maersk Line

A.P.M Moeller-Maersk (Maersk) has informed the search for the missing seafarer who fell overboard from the Maersk Patras on May 19, 2019, has been suspended.“It is with regret we have received the news that the search and rescue operation was unsuccessful and we must conclude that we have lost our colleague. It is a tragic situation for the family and we have offered them our full support. My deepest condolences and thoughts go to them,” says Søren Toft, COO of A.P. Moller - Maersk…

16 May 2019

AAL Delivers Four New Cranes for Felixstowe

Image: AAL Shipping

The global ocean transport operator AAL Shipping has successfully delivered a cargo of four rubber-tired gantry cranes (RTGs) to the Port of Felixstowe, as part of a development project that will see the UK’s busiest container port add an additional 18,000 teu of container storage capacity to meet growing demand.The ZPMC Chinese-made RTGs were loaded in Shanghai and shipped to Felixstowe aboard the 31,000 dwt mega-size mpv the A-Class AAL Kobe, for the CPIA forwarding and shipping agency.

15 May 2019

Cosco Eyes PIL Takeover

Image: Cosco Shipping Holdings Co.

After buying several container factories from its smaller competitor Singapore-based shipping company Pacific International Lines (PIL), China’s Cosco Shipping Holdings Co. is eyeing it as a potential takeover target.The Chinese state-run ocean carrier  had bought part of debt-ridden PIL’s container-manufacturing business, and executives at the Chinese carrier believe they could wrap up a deal for the entire business if family-owned PIL’s owners decide to sell, reported WSJ.Cosco…

14 May 2019

ZIM Joins DCSA

Image: Zim

Israel cargo shipping company Zim Integrated Shipping Services (ZIM) announced that it has joined the Digital Shipping Association (DCSA) dedicated to digitization and standardization in the container shipping industry.ZIM CIO, EVP Eyal Ben-Amram, said: "We are excited to join DCSA and to contribute to the digital transformation. We firmly believe that digital innovation will shape the future of the shipping industry, and our multi-service approach embodies this belief. Standardization is the right way to improve the eco-system of all stakeholders".A month ago…

12 May 2019

Yantian Express Ready to Depart

Pic: Hapag-Lloyd

Hapag-Lloyd says repairs have completed on board the fire-stricken containership MV “Yantian Express” in Freeport Harbour, Bahamas and will depart on Wednesday May 15th."The vessel is currently berthed at the terminal in the Bahamas. Reloading of all containers previously discharged ashore for inspection has now been completed," said a press release from the  Accordingly all cargoes, whether security has been provided or not, are now on board the Yantian Express  German-based cargo container shipping line.Dependent on final technical approval of vessel class…

09 May 2019

Hapag Lloyd: Calm Passage Despite Trade War

File Image / CREDIT: Hapag Lloyd

Hapag-Lloyd is optimistic about the year ahead, despite global trade tensions, the German container shipping company's chief executive said on Thursday after a first quarter earnings rise."Despite all the uncertainty, we see a somewhat stable development," Rolf Habben Jansen told Reuters, adding that trade wars have so far had a limited effect on Hapag Lloyd's business.U.S. President Donald Trump said on Wednesday that China had broken the terms of a trade deal, adding he would…

03 May 2019

MSC Joins NAMEPA

Pic: MSC Group

The provider of container shipping services MSC Mediterranean Shipping Company is a new member of the North American Marine Environment Protection Association (NAMEPA), which works to preserve the marine environment by promoting sustainable maritime industry best practices and educating the public."MSC is committed to promoting a sustainable business model, remaining true to its roots and its core family values. Regardless of the challenges and transformation we might face in today’s business world…

25 Apr 2019

ONE Adds New 14,000 TEU Boxship ONE Apus

 ONE APUS during the sea-trial. Photo: ONE

Ocean Network Express (ONE),  a Japanese container shipping company that is headquartered in Tokyo and Singapore,  announced that ONE APUS, with a carrying capacity of 14,000 TEU, was successfully delivered at Kure Shipyard of Japan Marine United Corporation.The sublet owner is Nippon Yusen Kaisha, said a press release from the provider of container shipping and terminal services.This is ONE’s second delivery this year, and the 6th of a series of seven newly built 14,000 TEU magenta containership…

24 Apr 2019

Hapag-Lloyd Publishes Sustainability Report

Pic: Hapag-Lloyd

As one of the largest liner shipping companies, Hapag-Lloyd bears a special responsibility for the environment, for its customers and shareholders, and for its employees, said the container shipping company in its second sustainability report.German-based transportation giant pointed out that ninety percent of all goods traded worldwide are transported by ship. With its 227 vessels, Hapag-Lloyd transports approximately 12 million containers per year. Container shipping thereby makes a significant contribution to a well-functioning global trade network.The current sustainability report…

23 Apr 2019

GSL Inks Long Term Charter with Maersk

Pic: Maersk Line

UK-based containership charter owner Global Ship Lease (GSL) has agreed a minimum 30-month / maximum 38-month charter with Maersk Line for the 2000-built, 5,936 TEU containership Tasman.The new charter is expected to commence in July 2019 on the completion of the current charter and is subject to a further 12-month extension at the charterer’s option.The charter is expected to generate approximately $5.3 million of Adjusted EBITDA for the median firm period and an additional $4.4 million if the 12-month extension option is exercised.George Youroukos…

17 Apr 2019

ZIM Joins TradeLens Blockchain Platform

Pic: Zim

The cargo shipping company in Israel, ZIM Integrated Shipping Services announced that it has signed on as a member of TradeLens, a blockchain-enabled digital shipping solution jointly developed by A.P. Moller - Maersk and IBM.TradeLens uses blockchain technology to enable trust between multiple trading partners – from carriers to freight forwarders, customs officials, port authorities and more -- when transacting in a digitized global trade documentation process.TradeLens ecosystem members get a single shared view of a transaction without compromising details…

07 Apr 2019

ZIM Returns to NWSA North Harbor

Pic: Northwest Seaport Alliance

The Northwest Seaport Alliance (NWSA ), a marine cargo operating partnership of the ports of Seattle and Tacoma, has welcome the ZIM Ningbo to its North Harbor.Zim Integrated Shipping Services (ZIM) is expanding its presence at the NWSA by joining the 2M trans-Pacific service calling at Terminal 46 in Seattle, it said in a press release.ZIM will have four of its own vessels in the weekly ZP9 service with increased capacity to serve the NWSA gateway. This will be the first regular…

09 Apr 2019

Top Honours for CMA CGM, Mrs Gina Lee-Wan

Recipient of the International Maritime Centre (Individual) award, Mrs Gina Lee-Wan. Photo: Government of Singapore

The global container shipping company CMA CGM Group and maritime lawyer Gina Lee-Wan, Partner and Co-Head of Maritime and Aviation Practice at Allen & Gledhill, recognised at Singapore International Maritime Awards 2019."CMA CGM and Mrs Gina have received the International Maritime Centre (Corporate) Award and the International Maritime Centre (Individual) Award respectively," said a press release from the Maritime and Port Authority of Singapore (MPA).A world leader in maritime transportation, CMA CGM has been steadily expanding its presence in Singapore.

16 Apr 2019

Digital Container Shipping Association Formed

Pic: Maersk Line

Four container shipping giants -  AP Moller-Maersk, Hapag-Lloyd, MSC and ONE - have jointly established Digital Container Shipping Association (DCSA)  in The Netherlands to drive standardisation, digitalisation and interoperability in the industry.Industry veterans form leadership team, with Thomas Bagge appointed as CEO, said a press release from Hapag-Lloyd.After gaining regulatory approval from the Federal Maritime Commission (FMC) last month, four container shipping companies officially established the Digital Container Shipping Association (DCSA) on April 12…

01 Apr 2019

CNCo Acquires of Hamburg Süd Units

Pic: Hamburg SĂĽd

German container shipping line Hamburg Süd and The China Navigation Company (CNCo) have completed the sale of Hamburg Süd’s dry bulk shipping business to CNCo after receiving regulatory approval.Earlier in January, Hamburg Süd announced that it is selling its bulk shipping business, which includes Rudolf A. Oetker (RAO) and the bulk activities in Furness Withy (London and Melbourne) and Aliança Navegação e Logística,  to Singapore’s CNCo, part of the Swire Group,  as it focusses on its liner business with its two container shipping brands…

03 Apr 2019

Seaspan Rolls-out KVH VSAT Across Fleet

Image: KVH Industries, Inc

Manufacturer of mobile satellite communications KVH Industries informed that the container shipping giant Seaspan  completed the implementation of KVH mini-VSAT Broadband connectivity for all 107 managed vessels in its global container ship fleet.Seaspan selected KVH’s TracPhone V7-HTS/AgilePlans and KVH’s TracPhone V11-IP for the vessels.“We chose KVH for the ability to have a superior end-to-end solution from one provider, which can be customized as per our business requirements” says Rajesh Gopinathan…

03 Apr 2019

Port of Dover Prepared for Brexit: Drewry

Pic: Drewry Shipping Consultants Limited

Alternative capacity could be provided by short-sea container services between the UK and EU to alleviate possible congestion at the Port of Dover post-Brexit.The Port of Dover is the cross-channel port situated in Dover, Kent, south-east England. It is the nearest English port to France, at just 34 kilometres (21 miles) away.According to a new study by global shipping consultancy Drewry the Port of Dover had the capacity to cope with moderate Brexit disruption.The earlier study, validated by the Port of Dover, concluded that of the 2.5 million trailers going via Dover, around 20% (i.e.

04 Apr 2019

Drewry Cautiously Optimistic on Container Shipping

Pic: Drewry Shipping Consultants Limited.

The container Shipping industry is facing an exceptionally high level of uncertainty, ranging from the extra cost associated with IMO 2020 and how much carriers will recover from shippers, to the possibility of a trade recession and unknown future engagement by shipowners in large vessel building programmes.According to the recently published Container Forecaster from global Shipping consultancy Drewry, every region is expected to see container port handling growth in each and every year of the five-year forecast…

04 Apr 2019

Cosco Intros Guangzhou Supply Chain Platform

Photo:Cosco Shipping Ports

The global ports operator Cosco Shipping Ports signed investment agreement of Cosco Shipping Ports Supply Chain Project with Guangzhou Nansha Economic and Technology Development Zone Commercial Bureau.The Cosco Group company said that it plans to develop phase I of terminal extended business in the land near Nansha Stevedoring Corporation Limited of Port of Guangzhou and Guangzhou South China Oceangate Container Terminal Company Limited, in order to develop port supply chain platform…

08 Apr 2019

Satisfaction in Container Transport Declines

Graph: Drewry Shipping Consultants Limited

The level of satisfaction regarding container carriers among exporters, importers, and freight forwarders reduces marginally, according to the third annual shipper satisfaction survey of Drewry and the European Shippers’ Council (ESC).The joint ESC and Drewry survey reveals that the 249 shippers and forwarders who took part in the survey rated the service of container shipping lines with a score of 3.1 on average (which is 0.1 lower than last year) on a scale of 1 (very dissatisfied) to 5 (very satisfied).Customer satisfaction was reported least favourable for clarity of prices and surcharges…

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