Profit Warning of China Shipping Container Lines
China Shipping Container Lines (CSCL) has released a profit warning stating that it expects to close the financial year 2015 with a net loss of about 2.8 billion yuan (425 million dollars) compared to a profit of over one billion yuan recorded in 2014. The Chinese container line expects to log big 2015 deficit as volumes fall 8%. The Shanghai- and Hong Kong-listed carrier said the poor results are mainly due to a depressed container shipping market. While the new shipping capacity continued to expand…
A.P. Moller-Maersk Misses Q4 Forecast
Net operating loss after tax of $2.7 bln means dividend cut. Chairman to step down at end of March. A.P. Moller-Maersk missed fourth-quarter profit expectations on Wednesday as the world's largest shipping company pressed on with changes, taking impairments, slashing its dividend and announcing a new chairman. Hurt by low prices and oversupply in the oil and freight sectors, Maersk announced a major restructuring plan in September. "It was a bad and unsatisfying year," Chief Executive Soren Skou told journalists…
LR Verifies OOCL’s CO2 and SOx Emissions Data
OOCL’s emissions data reported into the BSR Clean Cargo Working Group (CCWG) verified as true and accurate by Lloyd's Register, supporting the operator’s commitment to reducing GHG emissions from their vessels. Orient Overseas Container Line (OOCL) is an integrated international container transportation company with a commitment to environmental care. Lloyd’s Register has confirmed that OOCL’s emissions data reported into the BSR CCWG Environmental Performance Metrics Assessment (EPMA) tool has been verified as true and accurate, supporting the leading operator’s commitment to reducing greenhouse gas (GHG) emissions from their vessels.
New Mississippi Container Terminal Planned
Plans have been put in motion to develop a new intermodal container terminal on the lower Mississippi River. Designed to service the largest ocean carriers, the new 1,000 acre container terminal will be capable of docking vessels up to 20,000 TEU with deep-water access and 21,600 linear feet of waterfront allow for multiple ocean and APCT vessels to be accommodated simultaneously. The container port, located between mile 50 and 55 on the Mississippi River, will be the southern-most full service port complex on the river…
MPA Honors Patrick Phoon
Ocean transportation firm, “K” Line Pte Ltd, and Patrick Phoon, Deputy Managing Director of Evergreen Shipping Agency, received the International Maritime Centre (Corporate) Award and the International Maritime Centre (Individual) Award respectively. The Maritime and Port Authority of Singapore (MPA) has honoured ten industry partners who have made outstanding contributions to Singapore's development as a premier global hub port and a leading international maritime centre at the Singapore International Maritime Awards (IMA) 2017.
Maersk: Shipping Recovery Coming
Maersk Line posts loss, but company sees improvement. A.P. Moller-Maersk beat first-quarter net profit forecasts on Thursday, boosted by the energy business it plans to spin off, but also reported signs of improvement at its long-suffering container shipping business. Shares in the Danish conglomerate climbed almost 5 percent after it said a gradual recovery in freight rates should boost earnings at Maersk Line, the world's biggest container shipping business, over the rest of the year.
Maersk Profit Plunges
Danish shipping and offshore energy conglomerate Maersk Group reported its profit at US$ 224 million for the first quarter of 2016, a drop of 86 percent compared to $ 1.6 billion seen in the same period a year earlier. Hit by low oil prices and freight rates, the world's largest shipping company AP Moller-Maersk A/S says revenue fell almost 20 percent from a year earlier to $8.5 billion. Maersk Line, the world’s largest container operator by capacity and traditionally the company’s biggest earner…
Maersk Mulls Acquisitions after Surprising Profit
Fragmented sector chasing alliances to cut costs; Maersk has plenty of cash for deals - CEO. A.P. Moller-Maersk returned to profit at its main container shipping business in the first quarter, putting the cash rich company in a strong position as the struggling industry consolidates. The group's shares were up by 5.6 percent at 1127 GMT on Wednesday after Maersk Line confounded expectations of a loss at the container shipping business as the sector grapples with a downturn brought on by overcapacity.
OOCL Renews VOD Training Contract
Videotel, producer and distributor of training videos, 3D animation, and e-Learning courses to the maritime market and part of KVH Industries, Inc., (Nasdaq: KVHI), has renewed its contract with Orient Overseas Container Line (OOCL) to supply the full Videotel On Demand (VOD) and software solutions service. VOD delivers high-quality, award-winning training materials, available as an onboard and online e-Learning library, with accompanying recording and reporting software, making it easy for crew members to select specific training courses to learn new skills and develop their careers.
New Route for Container Trains in UTLC Services
In connection with the increased cargo transportation by accelerated container trains en route China/ Europe/ China, UTLC JSC jointly with Belintertrans-Germany LLC, with assistance of the Belorussian Railways Baranovichi Division, is introducing an additional container train route via Kuznitsa/ Bruzgi border crossing. On July 31, 2017, the first container train departed from the Lodz to Chengdu Station in this route. The container train has 41 40” containers with assembled cargo.
Fog Lifts as Maersk CEO Remains Upbeat
Container shipping fundamentals at best since 2010 - CEO. Denmark's A.P. Moller Maersk gave an upbeat outlook for container shipping on Wednesday, lifting its shares by more than 4.5 percent as investors looked beyond one-off second-quarter charges. Maersk has been hit by low oil prices at its energy arm and sliding prices in its shipping business in recent years due to lacklustre global trade and a glut of available ships for hire. But its chief executive Soren Skou, who has staked his future on Maersk as a transport business…
Maersk Reports Q2 Loss, Sees Cyber Attack Bill at $200-$300 Mln
Danish shipping group A.P. Moller Maersk reported an unexpected net loss in the second quarter due to terminal and tanker impairment charges, but said it was upbeat on the container shipping outlook. Maersk also said it expected a $200 million to $300 million bill from a June cyber attack that disrupted its container shipping operations for weeks. The company's net loss stood at $264 million, compared with expectations for a $507 million net profit, according to an average of forecasts in a Reuters poll.
New Orleans' Big Plans Showing Dividends
A Container-on-Barge service intended to be an integral part of the regional intermodal equation is gathering momentum – and customers. Quietly, the Port of New Orleans (NOLA) has marked some important accomplishments in the past two years, across multiple business sectors. For example, in April 2016, NOLA’s Board dedicated a $25 million Mississippi River intermodal terminal, capable of handling 160,000 twenty-foot-equivalent (TEU) units per year by rail. CN Railroad signed a memorandum of understanding (MOU) a year earlier (2015)…
Shipping Oversupply Persists Despite Scrapping Increase: Drewry
A record number of around 150 container vessels are expected to be scrapped in 2016 but it will not be enough for an industry battling over capacity, low demand and falling rates, consultancy firm Drewry said. In 2015, demolitions were less than half of the expected 2016 level but it will not be a real relief for the struggling container shipping industry. "This will only make a dent into the over-capacity built during the 2010-15 period," Drewry wrote in a note. Demolitions are expected to reach 450…
Newbuild Containership Enters CMA CGM Fleet
The CMA CGM Group announced the maiden voyage of the CMA CGM Elbe on October, 14, 2014 in Dalian (China). The CMA CGM Elbe (9400 TEUs) is the second of a series of 28 vessels from 9,400 TEUs to 10,900 TEUs, vessels which will be delivered from now to the third quarter of 2016. Last June, the group received the delivery of the first vessel of this series: the CMA CGM Danube. Each vessel of this one-of-a-kind series will be named after a famous river of the world. Sailing under the Malta flag…
Maersk Line Signs First Carbon Pact in Asia
Maersk Line has signed a five-year carbon reduction pact with Huawei Technologies, a global leading telecom solutions provider and the world’s third largest mobile phone manufacturer. The key to Huawei’s success is positioning itself as an innovator and thought leader in its field of expertise. To maintain this status amongst its customers, Huawei has taken the next step by signing a strategic carbon pact with Maersk Line. This agreement integrates both companies’ sustainability commitments to reduce Huawei’s CO2 emissions per container transported with Maersk Line by 18% from 2016 to 2020.
Hapag-Lloyd Reports Better Results for Q3 2017
Hapag-Lloyd closed the third quarter of 2017 with a significant positive Group net profit and a much improved operating result (EBIT). The integration with United Arab Shipping Company (UASC) is almost completed and on schedule to be finalized by the end of the year. For the third quarter the net profit amounted to EUR 54.3 million (prior-year period: EUR 8.2 million), the EBIT rose to EUR 180.6 million (prior-year period: EUR 65.6 million), and the EBITDA stood at EUR 361.5 million (prior-year period: EUR 184.6 million).
Kalmar Gets Order in Spain
Kalmar, part of Cargotec, has signed an agreement with Noatum Container Terminal Bilbao for delivering two rail-mounted gantry cranes (RMGs) for intermodal operation. This is Kalmar's first RMG delivery since the new offering was launched in September 2017. The order was booked in Cargotec's fourth quarter 2017 intake and the delivery will take place during the first half of 2019. Noatum Container Terminal Bilbao is a large scale container terminal serving as a gateway for container…
Asia-Europe Box Rates Drop Almost 21 pct
Shipping freight rates for transporting containers from ports in Asia to Northern Europe fell 20.5 percent to $934 per 20-foot container (TEU) in the week ended on Friday, a source with access to data from the Shanghai Containerized Freight Index told Reuters. It was the largest ever weekly decline on the world's busiest freight route since the index began recording rates in 2009. A level below $1,000 is widely seen as a loss-making level for container shipping companies. Container freight rates have so far increased in 12 weeks this year but fallen in 33 weeks.
Shanghai Port Sets New World Record
The annual handling capacity of Shanghai Port surpassed 40 million TEUs (twenty-foot equivalent units), breaking an existing world record, the Chinese state media reported. Xinhua quoted the Shanghai International Port Group saying that Shanghai Port started container transportation in 1978 with a handling capacity of 7,951 TEUs that year. As one of China's largest ports, its throughput exceeded 30 million TEUs in 2011. In December 2017, Shanghai Yangshan Deep Water Port, the world's biggest automated container terminal, started trial operations.
Maersk Profit Miss, Outlook Puts Shipping in Spotlight
Maersk management hints at hitting top of 2018 EBITDA range. A.P. Moller-Maersk's move to focus on transport and jettison oil was tested on Friday as the world's largest container shipping firm missed profit forecasts and gave what analysts saw as a conservative outlook. Shipping, which has been hit by years of overcapacity and slow economic growth, saw early signs of a turnaround in early 2017, but freight rates fell in the second half. "I'm still very optimistic on the fundamentals of the global container shipping industry…
Maersk Profit Halves, Global Trade Forecast Dimmed
Container shipping demand at lowest since 2008 crisis; additional capacity supply far outstrips demand. Shipping and oil conglomerate A.P. Moller-Maersk said on Friday third-quarter profit almost halved and global demand for container transportation this year would grow at a slower pace than previously expected. The Danish company, which operates the largest container shipping business in the world, kept a reduced forecast made two weeks ago for a 2015 underlying profit of $3.4 billion, down from the $4.0 billion previously expected.
Vietnam to Protect Domestic Fleet
Vietnam says no to foreign firms to provide container transportation service on domestic routes, says a report published in VietNamNet Bridge. The Vietnam Maritime Bureau (Vinamarine) has sent a dispatch to the Ministry of Transport (MOT) seeking to continue policies to protect its fleet in the domestic transportation market. The increase in the number of vessels and the unchanged volume of goods are the two reasons it cited as a basis for the proposal. Earlier in 2013, Vietnam imposed a ban on foreign firms.