Eimskip Announces Job Cuts
Icelandic shipping company Eimskip announced Tuesday it will reduce staff in continuation of streamlining measures initiated 15 months ago and due to uncertainty both in the Icelandic and global economy because of the COVID-19 pandemic."These streamlining measures include a reduction of 73 full time employees within Eimskip, thereof 47 in Iceland. Direct redundancies are 54, thereof 39 in Iceland. The reduction of FTE’s affects all layers of the company including the management." the company said in a statement.Vilhelm Már Þorsteinsson…
Eimskip Sells 2 Boxships
The oldest shipping company in Iceland Eimskip has made an agreement to sell two container vessels for USD 3.9 million (EUR 3.5 million).The Icelandic Steamship Company (Eimskipafélag Íslands hf.) said in a press note that the 1457 TEUS container vessels Godafoss and Laxfoss are 24 years old and have been operated by Eimskip for nearly 20 years.Eimskip has parallel to the sale made an agreement with the buyer to charter the vessels back, it said.The sale of these vessels is a part of Eimskip’s vessel fleet renewal…
Eimskip Sells Three Reefer Vessels
Icelandic container line and a logistics company Eimskip has made an agreement to sell three of its reefer vessels in Norway for USD 12 million (EUR 10.9 million).The vessels, Langfoss, Stigfoss and Vidfoss, are 30 years old and have been operated by Eimskip in Norway for 20 years and owned by the Company for the last 8 years. Eimskip has parallel to the sale agreed to charter one of the divested vessels for the next two years.Eimskip is currently operating six reefer vessels but following the sale it will operate four, of which three are owned by Eimskip.
Ernst Russ Buys Box Ship
The Ernst Russ Group has acquired a 700 TEU geared container ship in cooperation with a strategic partner.German-based company which manages a fleet of around 80 container, tanker and bulker ships as well as other vessels said that the successful acquisition of the vessel strengthens its strategic position in the market and further expands the Ernst Russ Group fleet.The 700 TEU container ship, MV ‘Skogafoss’ was built in 2007 and is in a good technical condition. It has been operating…
Eimskip, Royal Arctic Line Pact Okayed
The oldest shipping company in Iceland Eimskipafélag Íslands (The Icelandic Steamship Company), also known as Eimskip, said that its collaboration with the national carrier of Greenland Royal Arctic Line and an Icelandic shipping company has been approved by the Icelandic authorities.As part of the cooperation, three 2,150 TEU container vessels are being built in China with expected delivery late 2019. Two vessel are being built for Eimskip and one for Royal Arctic Line.The vessels will be used in weekly services between Greenland, Iceland, Faroe Island and Scandinavia.
Iceland’s Samherji Buys Stake in Eimskip
Icelandic fisheries company Samherji though Samherji Holding has acquired a substantial share in Eimskip, Iceland’s longest-established and largest shipping operator.The company has a total of 25.3% stake in the company and the purchase price is about 11 billion Icelandic krona. Samherji Holding is a subsidiary of Samherji's foreign operations. The seller of the stake is the US investment fund Yucaipa.The purchase will give Samherji an investment in a major logistics firm that has 22 vessels…
Langh Tech Scrubbers, EGR Water Treatment for New Box Ships
Three container vessels on order at Guangzhou Wenchong Shipyard in China for Eimskip Island ehf and Royal Arctic Line A/S will be equipped with Langh Tech hybrid scrubber systems and water treatment systems for exhaust gas recirculation (EGR). The newbuilds are of a new energy-efficient design developed by Deltamarin. The in-line scrubbers are multi-inlet installations, where the main engine and auxiliary engines are connected to the same scrubber tower. In addition, the MAN Diesel & Turbo two-stroke main engines of the newbuildings are equipped with EGR systems.
New Containerships for Eimskip, Arctic Line
Iceland’s Eimskip Ltd. and Greenland-based Royal Arctic Line A/S have ordered three new Arctic-capable 2,150 TEU containerships to be built at the Guangzhou Wenchong Shipyard in China. The new vessels, designed by Deltamarin to fit the two ship owners’ trading routes, will measure 180 meters in length and 31 meters breadth, larger than the current vessels in the trade. The ice class ships will comply with the newly adopted IMO Polar Code. The vessels will also comply with IMO NOx TIER III requirements, equipped with built-in scrubber systems.
Eimskip Gets Finance Deal for New Container Vessels
Eimskip has secured 80% financing of the contract price of the vessels with a 15 year tenor in Euros taken upon delivery. The lender is the German bank KfW IPEX-Bank GmbH. The loan is secured by China Export & Credit Insurance Corporation (Sinosure). On 25 January, Eimskip signed a contract with China Shipbuilding Trading Company Limited and Guangzhou Wenchong Shipyard Co. Ltd. to build two 2,150 TEU container vessels. The contract price of each vessel is approximately USD 32 million and the vessels are expected to be delivered in 2019.
Acquisition of Nor Lines Rejected
The Norwegian Competition Authority has today rejected Eimskip’s acquisition of the Norwegian shipping and logistics company Nor Lines AS. The result of this decision is that Eimskip is not allowed to acquire Nor Lines. The potential acquisition of Nor Lines was not taken into account in the EBITDA forecast for the year 2017, and therefore this decision has no effect on that forecast. Acquisition cost in year 2017 related to this project is estimated EUR 300,000 which will be expensed in the first quarter 2017.
Norwegian Authority Objects Eimskip's Acquisition of Nor Lines
The Norwegian Competition Authority has today given a notice of an objection to Eimskip’s acquisition of the Norwegian shipping and logistics company Nor Lines AS. The notice reflects the Authority's preliminary conclusion, and Eimskip has 15 business days to present counterarguments. A final decision will be made by the Authority after another 15 business days. Eimskip is evaluating next steps with its legal advisors. In last November, Eimskip has entered into an agreement to acquire the Norwegian shipping and logistics company Nor Lines.
Eimskip, RAL Order Containerships from China
Iceland’s Eimskip and Greenland’s Royal Arctic Line (RAL) have signed an agreement to share capacity, and together ordered three new ice-class containerships to be built in China. Eimskip said it has finalized contracts with China Shipbuilding Trading Company Limited and Guangzhou Wenchong Shipyard Co. Ltd. for the construction of two 2,150 TEU container vessels, and RAL also signed a contract for one vessel of the same type from the same shipyard. With a length of 180 meters and breadth of 31 meters…
Eimskip Chooses Star Information Systems
Eimskip, Iceland’s oldest shipping company, has chosen Star Information Systems for their fleet management. Under the terms of the agreement, Star Information Systems (SIS) will provide a fully integrated software package, including systems to manage maintenance, purchasing, work planning, guarantee claims, messaging, insurance policies and claims, budget and cost control, project, event, crew and document management. The system will be installed on Eimskip’s fleet of 10 vessels and in the office in Iceland.
Eimskip Acquires Mareco in Belgium
Eimskip has strengthened its position in worldwide reefer logistics services by acquiring 80% of the forwarding company Mareco N.V. The company was founded in 2002 and its headquarters are located in Antwerp,Belgium. The current management team will continue to own a 20% share in the company and will manage its operations. Mareco employs 26 people in two locations, 22 in Antwerp and four in Sao Paulo, Brazil. Mareco focuses on reefer logistics services, especially export to West, Central and South Africa from all over the world. Main commodities are seafood, chicken, pork and beef.
Eimskip Purchases Container Ship
Iceland’s largest transport company Eimskip has purchased a containership for use on its European routes from Danish shipping company KiL Shipping A/S for more than $10 million, company officials said. Hf Eimskipafelag Islands said in a statement it was paying 890 million Iceland crowns ($10.4 million) for the vessel from KiL, which is being acquired by Norway’s privately held shipping group Tschudi & Eitzen. The ship, to be delivered to Eimskip in Rotterdam in late April, will carry an Icelandic crew and sail on Eimskip’s South Route, linking ports Icelandic ports, Immingham in northern England, and Rotterdam. The ship has a dead weight of 8,675 tons and is 126 meters long.
New Ferry Service Mulled
The Iceland Steamship Company Ltd. (Eimskip) Iceland's largest shipping company, is considering starting a passenger and car ferry service between Iceland, the Faroe Islands, Denmark and Scotland next summer.
Eimskip, Containerships and Kursiu Linija form Joint Venture
Shipping and logistics company Eimskip, Lithuania's Kursiu Linija and Finnish shipping and container company Container Finance Ltd have joined forces to create a door-to-door logistics providers. The new joint-venture company Containerships Group will be based in Helsinki and will operate eleven ships on services linking east and west Europe, the Baltic States and Russia. It will be the cornerstone of a much larger alliance including the services of its parent companies. Eimskip, which earlier this year completed the purchase of Kursiu Linija, has purchased 65 per cent of Containerships Group, the shipowning and logistics arm of Finland's Container Finance Ltd. Kursiu Linija will become a subsidiary of Containerships Group.
Containerships Group Not For Sale
sell the company to FESCO or anyone else. Eimskip, which in turn is listed on the Icelandic Stock Exchange. remainder of the company is owned privately in Finland. intend to buy Containerships Group. FESCO and we have no intention of having any discussions with them. Petersburg. terminal in St Petersburg through its Multi Link Terminals subsidiary. It is our main Russian gateway. terminal by illegally closing the access roads to the terminal. terminal and a successful line serving Russia to sell out. will continue to flow freely across our network.
Eimskip Adds Refeer to Fleet
Eimskip-CTG in Norway, has received its third newbuilt refeer vessel in 18 months. The vessel is built at Myklebust Verft AS in Norway. The new reefer vessel is a combined reefer and container vessel. It is 269 x 52.4 ft., with maximum cruising speed of 16 nautical miles per hour, and a deadweight of 2,500 tons. It has substantial loading and discharging capacity, about 200 tons per hour and is able to carry 1,800 pallets and 28, 40-ft. containers on deck. The vessel has side ports, which enables driving pallets directly onboard instead of having to hoist them using a crane.
Eimskip to Acquire Nor Lines
Eimskip has entered into an agreement to acquire the Norwegian shipping and logistics company Nor Lines. The business, with about 200 employees and an estimated annual turnover of approximately EUR 110 million, will be restructured in order to be aligned with Eimskip’s current operations in Norway. Ingvald Løyning, CEO of DSD, said, “DSD started the process of finding a strategic solution for Nor Lines early this year. We believe that further consolidation is needed in the logistics industry…
Liability of Third Party on Bill of Lading
The U.S. Court of Appeals for the First Circuit ruled that a third party can be liable on a bill of lading based on its conduct. In the instant case, a cargo owner arranged for shipment of frozen fish and prepared a bill of lading naming itself as the shipper. The consignee orally agreed to pay to the carrier the applicable freight charges. The cargo was shipped and the consignee paid the freight charges. The cargo owner arranged a second shipment in the same manner and the consignee again agreed to pay the freight charges. The cargo was delivered, but the freight charges were not paid. The carrier brought suit against both the shipper and the consignee.
Eimskip Acquires Nor Lines
Iceland-based Eimskip has agreed to acquire Norwegian shipping and logistics company Nor Lines. According to Eimskip, the operation of Nor Lines has been challenging in recent years and the business will be restructured in order to improve the firm’s services. In a press release on November 16th, Eimskip stated: " With reference to a press release from Eimskip dated 2 November, the company emphasizes the following: Eimskip has entered into an agreement to acquire the Norwegian shipping and logistics company Nor Lines.
Kursiu Linija invests in Europe
demand for short sea transportation linking Eastern and Western Europe. Felixstowe, Rotterdam and Hamburg. office in Riga in August. Kursiu Linija. now require us to have our own offices in key locations. system across all of them. Linija's UK gateways. In Rotterdam it will employ 8 staff and in Hamburg 6. us from Eimskip," explains Martin Dale, marketing director. continuity and a platform to build on. and tracking. Klaipeda, Lithuania. operational costs. units. reducing costs for the customer.