Container Shipping News

21 Jan 2019

Seaspan Corp.Prepays Credit Facility of Eight Vessels

Pic: Seaspan Corporation

The  charter owner and manager of containerships Seaspan Corporation announced that it has prepaid a credit facility which was secured by eight of its vessels.Upon completion of the collateral release documentation in respect of this facility and the facility prepaid in November 2018, this will expand Seaspan's pool of unencumbered vessels to 32, from 24 as reported in its press release dated November 26, 2018, and 18 as reported in its Q3 2018 earnings press release.This includes vessels securing debt which has been repaid in November 2018 and January 2019, pending completion of collateral re

15 Jan 2019

Agricool: When a Container Box Comes Ashore

Photo: Agricool/CMA CGM

Containers get a Second Life in the Agriculture Sector.‘Green’ initiatives continue to sweep the globe, with companies such as #Agricool leading the way with its plan to  revolutionize urban agriculture while giving containers a second life.Enter CMA CGM Group, one of the world’s largest containershipping companies, which is supporting Agricool not only with recycled containers, but also investing in the company and sharing its experience in logistics with the sapling company as is matures and enters its industrialization phase.What is Agricool?Founded in 2015 in Paris…

14 Jan 2019

Drewry Predicts Better Freight Rates and Profits

File Photo: Hyundai Merchant Marine Co

The shipping industry’s supply-demand balance will benefit from a reduced appetite for Ultra Large Container Vessels (ULCVs) among the major carriers, some of which now have their eyes fixed on a bigger prize of becoming global logistics integrators, said Drewry.Simon Heaney, senior manager, container research at Drewry and editor of the Container Forecaster said: "Aside from feeder ship replenishment, there has been no reaction from other lines to Hyundai Merchant Marine (HMM)’s…

14 Jan 2019

MSC Starts Clean up in Dutch Waters after Container Spill

(Photo: Coast Guard Netherlands)

MSC has started cleaning up Dutch sea waters, 10 days after it lost nearly 300 containers from one of its largest cargo vessels in a storm."The clean up will likely take months," Dutch water authorities spokesman Edwin de Feijter said. "The largest part of the debris has been located, but there are still parts missing."291 containers, some holding hazardous chemicals, fell off one of the world's largest container ships, the MSC Zoe, on Jan. 2 in German waters near the island of Borkum during a North Sea storm.Two salvage ships left the harbor at IJmuiden…

14 Jan 2019

BIMCO: US Box Imports Break Records Despite Uncertainty Ahead

Peter Sand, BIMCO’s Chief Shipping Analyst

Container imports on both the US East Coast (USEC) and West Coast (USWC) had a strong year in 2018, growing 3.7% and 8% respectively in the first 11 months of the year compared to the same period in 2017.Record high levels of inbound laden containers were experienced on both coasts in October with the USWC at 1.09 million TEU and the USEC at 0.91 million TEU according to BIMCO’s own data.The first two months of 2018 saw the USWC coast’s laden imports increase 11.7% from the start of 2017, with the accumulated growth rate then stabilising to around 4% for the rest of the year.

10 Jan 2019

Fire on the Yantian Express “under control”

Pic: Hapag-Lloyd

German-based cargo container shipping line Hapag-Lloyd guarantees that the fire that broke out on its 7,500 teu Yantian Express was last night “brought under control”."On 3 January, a fire broke out in one container on the deck of the Yantian Express and spread to additional containers. In the meantime, efforts to extinguish the fire have made continuous progress under the direction of the salvage company Smit and in cooperation with the Hapag-Lloyd crew on the scene as well as Hapag-Lloyd’s emergency-response team in Hamburg.

09 Jan 2019

Rough Weather Hampers Clean-up of North Sea Container Spill

© oporkka / Adobe Stock

Clean-up efforts after a container ship spill off the Dutch coast are being hampered by rough weather although progress is being made, the Swiss based vessel's owner MSC said on Wednesday.In one of the worst incidents off the coast of the Netherlands, more than 250 containers - some holding hazardous chemicals - fell off the MSC Zoe, one of the world's largest container ships, during a North Sea storm on Jan. 2."This week, a storm is impacting the area being cleaned and unfortunately this will interrupt some operations," MSC said on Wednesday.

07 Jan 2019

ONE Thailand Crosses One Mln TEUS of Container Shipments

“ACME 1975 Co., Ltd.” is recognized as the final shipper of ONE Thailand contributing to the 1 million TEUs mark. Pic: ONE

Ocean Network Express (ONE) Thailand achieved a remarkable milestone by attaining 1 million TEUs, merely 9 months into the business.From January to December in 2017, the export & import laden containers volume in Thailand was 8 Million TEUs, the global container shipping company headquartered in Singapore said. Kiyoshi Tokonami, Managing Director of ONE Thailand, said, “This realization is a testament of the strong collaboration and support between our esteemed customers, business partners and ONE Thailand.""In addition to the memorial milestone…

04 Jan 2019

NYK Group Aims to Stay Ahead 2022 with Digitalization and Green

Pic: NYK Group

NYK president Tadaaki Naito in his New Year’s speech required the employees to execute the medium-term management plan “Staying Ahead 2022 with Digitalization and Green” announced in March of last year.He chartered out  the three basic strategies in the medium-term management plan.Under the first step of “Optimizing the business portfolio,” the fundamental revision of the dry bulk business and success of the integrated container shipping line ONE have been set forth as the two key elements.In the dry bulk business…

04 Jan 2019

MSC Intensifies North Sea Clean-up

MSC Zoe. Photo: MSC Mediterranean Shipping Company

Switzerland-based global container shipping and a company MSC Mediterranean Shipping Company said that it is directly taking over more of the clean-up of German and Dutch waters and beaches, following the recent container spill from the cargo ship MSC Zoe.The world's second-largest shipping line in terms of container vessel capacity said in a press release that in close collaboration with local authorities, it is now working with a number of salvage companies to add momentum to the quick response started on 2 January.In some locations…

03 Jan 2019

ONE Sets Productivity Record at PSA Terminal

(From left) Philbert Chua, Vice President of PSA Singapore and Takashi Kase, Senior Vice President of Ocean Network Express. Photo: ONE

Ocean Network Express (ONE) and PSA Singapore (PSA) jointly celebrated the highest productivity record of ONE’s containership – “NYK SWAN”, at the PSA Singapore’s Pasir Panjang Terminal.The Singapore-based shipping company said in a press release that over 6,000 container moves were accomplished in 18.5 hours or a gross berth productivity rate of over 300 shipshore moves, which was an exceptionally high performance standard in container shipping operation.A celebratory event was attended by over 100 representatives from ONE and PSA Singapore…

21 Dec 2018

ABP Bags Maersk Trade Deal

Image:  Associated British Ports

As agreement between Associated British Ports (ABP) container terminal located in Hull and Maersk, the world’s largest container shipping line,  to open a trading link between the north of England and the Far East.The service begins in the New Year into the 21-acre container terminal in Hull which has seen significant recent investment by ABP. The weekly feeder vessels will see ABP handle around 240 boxes per week, equivalent to 12,000 containers per year.“Unlocking this new trade gateway to the rest of the world is not only significant for the local economy…

20 Dec 2018

PSA, ONE Launch Container Terminal in Singapore

Pic: Ocean Network Express

The global transport company Ocean Network Express (ONE) and PSA Singapore (PSA),the flagship terminal of the global port group PSA International, will join hands to form a joint venture  company  based at Pasir  Panjang Terminal in Singapore.Subject to regulatory approvals, the joint venture terminal is scheduled to commence operations in the first half of 2019 and operate four mega container berths with a combined annual handling  capacity of 4 million TEUs, said a press release from the global container shipping company headquartered in Singapore.Pasir Panjang Terminal…

17 Dec 2018

Maersk Intros Cargo Insurance Alternative

Pic: The Maersk Group

Maersk Line is expanding its commercial offering with the introduction of an extended liability solution, Value Protect, which will act as a substitute to regular cargo insurance, in protecting customers’ cargo."Maersk is expanding its commercial offering and introduces Value Protect, an extended liability solution. It offers customers an alternative to cargo insurance, increasing their chance of receiving full compensation in case of cargo damage in transit," said a press note from the Danish international container shipping company.Valid while the cargo is in the care and custody of Maersk…

09 Dec 2018

Moody's Downgrades Maersk

Image: Maersk

Moody's Investors Service has downgraded ratings for AP Moller-Maersk after a review of the Denmark-based shipping and oil company. Moody's expressed concerns about lower economic growth and the US-China trade war."The downgrade reflects our expectation that Maersk will face increased market and execution risks and, as a result, operate at a higher leverage than is commensurate with a Baa2 rating for a company in such a volatile and cyclical business as container shipping," said Maria Maslovsky…

07 Dec 2018

Dubai's DP World Completes Danish Unifeeder Acquistion

Pic: Unifeeder

Global port operator DP World says it has completed the acquisition of Danish logistics firm Unifeeder for $748 million.DP World’s full acquisition of Unifeeder Group from Nordic Capital Fund VIII was announced in August, but finalized on Thursday."DP World PLC is pleased to advise that it has closed the transaction to acquire 100% of Unifeeder Group from Nordic Capital Fund VIII and certainminority shareholders," said one sentence statement from the Dubai-based global marine terminal operator."Unifeeder Group is now part of the DP World Group…

07 Dec 2018

California: MSC Pays $630K for Air Quality Violations

Image: MSC

Swiss container shipping company Mediterranean Shipping Company (MSC) paid $630,625 in penalties to the California Air Resources Board (CARB) for violating the Ocean-Going Vessel At-Berth Regulation.According to CARB, the violations were discovered during a routine audit of the company’s 2014 visits to the Port of Oakland and the twin ports of Los Angeles and Long Beach.The investigation by CARB revealed more than 2500 violations for both the Oakland and LA/LB fleets for failing…

05 Dec 2018

Navios Maritime Acquires Box Ships

Pic: Navios Maritime Containers

Monaco-based container shipping company Navios Maritime Containers  announced that it agreed to acquire two 2010-built, 4,360 TEU containerships for $23.6 million from an unrelated third party.The two containerships are expected to be delivered in the fourth quarter of 2018, said the vertically integrated seaborne shipping and logistics company focused on the transport and transshipment of drybulk commoditiesNavios Containers also agreed to acquire two 2011-built 10,000 TEU containerships from an unrelated third party for a purchase price of approximately $52.5 million each…

04 Dec 2018

Maersk to Cut Carbon Emissions to Zero by 2050

Søren Toft, Chief Operating Officer at A.P. Moller - Maersk. Photo: Maersk Line

The world's largest container shipping company A.P. Moller -Maersk has pledged to cut net carbon emissions to zero by 2050.The Danish business conglomerate with activities in the transport, logistics and energy sectors said in a press note that to achieve this goal, carbon neutral vessels must be commercially viable by 2030, and an acceleration in new innovations and adaption of new technology is required.Climate is one of the most important issues in the world, and carrying around 80% of global trade, the shipping industry is vital to finding solutions.

04 Dec 2018

Fitch Ratings: Demand Risks Weigh on Global Shipping Sector Outlook

File Image of the port of Hong Kong / CREDIT Adobestock © Marco 2811

The global shipping sector outlook remains negative reflecting the demand-side risks of protectionism and slower economic growth, Fitch Ratings says. Higher fuel costs and sulphur regulation will also put pressure on shippers.Partly offsetting an unfavourable environment are emerging signs of better capacity management by shipping companies, which is key to a sustainable balance and freight rates that support consistent profitability. We expect better fundamentals in container and dry bulk…

03 Dec 2018

MSC Sees Over $2 bln in Annual Fuel Costs from IMO Rules

Photo: MSC

Swiss-headquartered MSC expects to pay over $2 billion a year in fuel costs due to tougher global marine fuel rules and will introduce a bunker charge next year to recoup expenses, the world's number two container line said.UN agency the International Maritime Organization (IMO) will prohibit ships from using fuels with sulphur content above 0.5 percent from Jan. 1, 2020, compared with 3.5 percent today, unless they are equipped with exhaust gas cleaning systems, known as scrubbers…

28 Nov 2018

Xeneta Launches Monthly Container Shipping Index

Pic: Xeneta

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…

26 Nov 2018

Hapag-Lloyd, KLU Launch New Research Centre

Image: Kühne Logistics University (KLU)

Germany's Kühne Logistics University (KLU) and the container shipping giant Hapag-Lloyd announced the launch of the Hapag-Lloyd Center for Shipping and Global Logistics (CSGL) in Hamburg.According to the University, in Hamburg CSGL will promote the ongoing discourse between international research and the shipping industry.Thomas Strothotte, PhD, President of the KLU said:  “We are combining theory with practice, and are building upon KLU’s key competence areas digital transformation…

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