Maersk Line News

09 Aug 2019

23,756 TEU “MSC Gulsun" Transits Suez Canal

MSC GULSUN,  the largest container ship in the world, transits the Suez Canal for the first time 9 August 2019. CREDIT: SCA

Admiral Mohab Mameesh, Chairman of the Suez Canal Authority and Suez Canal Economic Zone, announced the successful transit of MSC GULSUN, the world’s largest container vessel, on its first trip through the New Suez Canal. The Panamanian ship transited the Canal with the northbound convoy, heading to North Western Europe from the Port of XINGANG.As per protocol in the Suez Canal Authority on receiving mega vessels transiting for the first time, Admiral Mameesh, presented the ship’s master with a bouquet of flowers and the Suez Canal Authority’s shield…

07 Aug 2019

Port Elizabeth Hosts US Customs’ 230th Anniversary

Pic: APM Terminals

APM Terminals Port Elizabeth terminal ceremony and US-flagged vessel Maersk Kinloss recognize the nation’s first vessel clearance performed by United States Customs officials, on August 5th, 1789.Standing in for the two-masted sailing ship Persis, which arrived at the Port of New York on August 5th, 1789 with a load of cargo from Italy, the 6,200 TEU capacity US- flagged Maersk Line, Limited vessel, Maersk Kinloss was the focal point for a commemorative ceremony honoring 230 years of service by US Customs at America’s seaports on August 5…

05 Aug 2019

Andersen Appointed New CEO of StormGeo

Søren Andersen  (Photo: StormGeo)

The Board of Directors of StormGeo has appointed Søren Andersen as the new CEO of StormGeo. Andersen will take up his new position on September 2, 2019. Interim CEO, Henrik Dahl, will reassume his role as Non-executive Director on the Board of Directors of StormGeo.Andersen has more than 20 years of leadership experience from companies such as A.P. Møller – Maersk, APL, Rickmers and several start-ups. Most recently, he served as the CEO of 2020seaways, a modern shipowner focused on environmentally and economically superior container tonnage.

31 Jul 2019

Global Container Port Demand to Rise

Source: Drewry Maritime Research, Global Container Terminal Operators Annual Review and Forecast 2019

The outlook for global container port demand is modest growth and numerous uncertainties, but in the face of this, capacity expansion plans are also muted, said the global shipping consultancy Drewry."This means that most world regions will see an increase in average terminal utilisation," said Drewry in its Global Container Terminal Operators Annual Review and Forecast 2019.Drewry’s container port demand forecast for the next five years is for global growth of 4.4% per annum on average…

24 Jun 2019

Intermodal Freight Market to Grow 7.5%

Photo credit: A.P. Moller - Maersk

Global intermodal freight transportation Industry is estimated to grow at a CAGR of 7.5% from 2018 to 2025 to reach USD 72.51 Billion.Last year (2018), the intermodal freight transportation Industry was valued at USD 43.70 Billion, said a report from the Global Reports Store. Intermodal Freight transportation consist two modes of freight including rail and truck which is used in applications such as containerization of freight and passenger transportation.The intermodal process usually begins with a container moved by a truck to a rail…

19 Jun 2019

GSL Acquires Three Boxships

Marshall Islands-incorporated Global Ship Lease (GSL) announced that it has agreed to acquire three 2004-built, 7,849 TEU containerships for an aggregate purchase price of $48.5 million.Upon delivery during the second quarter, the first vessel will commence a five-year charter with Maersk Line, said a press release from the owner of containerships with a diversified fleet of mid-sized and smaller containerships.The two other vessels are expected to be delivered during the third quarter and will commence three-year charters with Maersk Line, with two consecutive one-year extensions at the charterer’s option.The three vessels are expected to generate Adjusted EBITDA of approximately $32 million in aggregate for the median firm period, and a total of $47 million if all options are exercised.

05 May 2019

LSCT Welcomes MSC Trieste

Pic: Contship

With the arrival of the MSC Trieste,  Contship’s La Spezia Container Terminal  (LSCT) greeted the maiden voyage of the “revised” Dragon/AE20 service from Asia operated by 2M joint partners, MSC and Maersk Line.Like its predecessor, the service calls La Spezia as its first gateway port call in the West Mediterranean, taking advantage of the connectivity throughout Italy as well as southern Europe.The number of port calls in the rotation has been reduced to improve schedule integrity and overall service efficiency.

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…

28 Mar 2019

Container Rates Alert: Box Industry Builds

File Image: Marad

Small yet significant rises in European import and export activity, combined with increased Far East imports and continued growth in US exports has fuelled a moderate improvement in long-term global container rates in March. The trend, identified in the latest XSI Public Indices report from Xeneta, builds on the positive rates development recorded last month, which effectively halted a decline underway since August 2018.Oslo-based Xeneta, a leading ocean freight rate benchmarking and market analytics platform…

26 Feb 2019

SFL: 60 Consecutive Quarters of Profitability

Image: Ship Finance International Limited

The international ship owning and chartering company Ship Finance International Limited (SFL) announced 60th consecutive quarterly dividend declared, $0.35 per share for the quarter ended December 31, 2018.Ole B. Hjertaker, CEO of Ship Finance Management AS, said in a comment: "The strength of SFL's business model has been repeatedly proven over 60 consecutive quarters of profitability and dividends. This has been achieved over multiple shipping cycles, and we have been able to…

20 Feb 2019

Update: Maersk Honam Heads for Rebuild

The sound part of the vessel Maersk Honam, which was hit by a serious fire last year, is being transported to Hyundai Heavy Industries Shipyard in South Korea, where it will be rebuilt.  Photo: Maersk

The sound part of the vessel Maersk Honam, which was hit by a serious fire last year, is being transported to Hyundai Heavy Industries Shipyard in South Korea, where it will be rebuilt. The sound section of Maersk Honam was successfully loaded aboard the heavy-lift vessel Xin Guan Hua on open waters outside Dubai (UAE) on Saturday, 2 February. It was expected to pass Singapore Strait on Monday, 18 February 2019. The heavy-lift vessel will deliver the 228.5-metres-long section from midship to stern at Hyundai Heavy Industries Shipyard in South Korea in March…

12 Feb 2019

Maersk Uses Inland Waterway in India

Image: Port of Gothenburg

The world's largest container shipping company Maersk Line began moving 16 containers on the Ganga river from Varanasi to Kolkata, the Shipping Ministry of India said.It will be Maersk's first container movement in the 1390-km inland waterway in the River Ganga from Haldia to Varanasi."Maersk Line will move 16 containers on river Ganga (National Waterway-1) from Varanasi to Kolkata tomorrow. The firm is onboard India's inland waterways for the first time," the ministry said in…

15 Jan 2019

Maersk, Avantida Automate Street Turns

Image: Avantida

Avantida said that Maersk Line has started to offer street turn or container triangulation services through its computer platform in the United States and Canada. Avantida is owned by E2Open.Empty container triangulation, or the interchange of an intermodal container outside of a marine terminal or yard (street turns), is a well-known activity in the US. By offering this on Avantida’s online platform, transporter and logistics companies are freed from the administrative hassle of having to request and process street turns manually.Through the automated request process offered by Maersk…

13 Jan 2019

Vilnia Maersk Delivered to Maersk

Pic: Shanghai NSE

Danish shipping conglomerate A.P. Møller – Mærsk A/S has taken delivery of Vilnia Maersk, a 3,600 TEU containership, from COSCO Zhoushan Shipyard.According to a stock exchange annoucement, Shanghai NSE supplied main switchboard   for the vessel.The statement said that the 3600TEU Container Vessel (Hull No.: N693) was built by COSCO (Zhoushan) Shipyard Co., Ltd. for Maersk Line Ltd.The ship is the sixth in a series of a total of seven Baltic feeders Maersk’s brand Seago Line plans…

18 Dec 2018

Ship Finance International in USD 270mln Pact for Three Vessels

Pic: Ship Finance International

Bermuda-based Ship Finance International (SFL) has entered into lease financing agreements totaling $270 million with an Asian-based institution to finance three 10,600 TEU container vessels acquired in 2018.The vessels are employed under long term time charters to Maersk Line A/S  until 2024, with options to extend the charters by up to four additional years, the ship owning and chartering company said.Each Lease Financing has a term of more than 10 years, with an option to purchase the vessel back after six years, at expiry of the firm period of the charters to Maersk.

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…

04 Dec 2018

Hyundai Merchant Marine to Say Good Bye to 2M Alliance?

Image: Hyundai Merchant Marine

South Korea's largest shipping firm Hyundai Merchant Marine (HMM) is likely to part ways with the 2M Alliance which will expire in April 2020 and join  a new ocean alliance said a local media report.According to a report in Business Korea, the 2M Alliance (consists of Maersk Line and MSC) is disadvantageous to HMM as it is not a full member of the alliance. HMM's status fell as the 2M Alliance inked a partnership deal with Israel's Zim Integrated Shipping Services, the report…

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…

14 Nov 2018

A.P. Moller - Maersk Grows Across the Business

Photo: Maersk

In the third quarter of 2018, A.P. Moller - Maersk progresses in the strategic business transformation, reporting growth in both Ocean and non-Ocean with a total revenue increase of 31% to $10.1bn, 12% excluding Hamburg Süd. Growth in non-Ocean was at 15%, which now contributes 31% of total revenue. In addition, synergy effects were realized.“Well into our transformation, we are progressing with the integration of our business to better serve customers and unlock the full growth potential within Logistics & Services.

08 Oct 2018

Good start for CETA Agreement

Pic: Danish Shipping

New calculations indicate that last year's trade agreement between the EU and Canada, the CETA agreement, has had a positive impact on trade between the continents and significantly increased exports from the EU to Canada. Shipping companies feel the effect of this.Last year's abolition of virtually all tariffs has improved the business climate between Canada and the EU and led to significantly increased EU-Atlantic exports to Canada. Canada is Denmark's 13th largest trading partner…

09 Oct 2018

World Shipping Council Names Tim Wickmann as New MD, Asia

Pic: World Shipping Council

The World Shipping Council (WSC) is pleased to announce that Tim Wickmann is joining WSC as its new Managing Director, Asia.Wickmann served most recently as CEO of MCC Transport and has worked in various leadership positions in international liner shipping for the last three decades.“The liner shipping industry is a global network and therefore needs consistent regulatory treatment across the globe. That requires the industry to have a coordinated voice on regulatory matters.

01 Nov 2018

NZ Harbour Welcomes its Largest Container Ship

Image:  Lyttelton Port Company Limited

The largest Port in the South Island of New Zealand, Lyttelton Port, has welcomed its largest ever container ship.The Singapore–flagged Rio de Janeiro, which can carry nearly 6000 containers and is the length of about three rugby fields, arrived early Saturday.Lyttelton Port Company (LPC) Chief Executive, Peter Davie said, “The Rio de Janeiro is a new class of ship to call at Lyttelton. She can carry 5,905 twenty-foot equivalent containers (TEUs), while the largest container vessels currently visiting Lyttelton commonly carry 4…

04 Nov 2018

Fitch Warns: Shippers' Costs and Capex may Increase

Image: Port of Hamburg

More stringent fuel regulations regarding sulphur content could significantly increase global shipping companies' operating costs and capex needs, says Fitch Ratings in a new report."This may negatively affect their credit quality unless they manage to pass these costs to customers. Many shipping companies have started implementing fuel surcharges to recover costs associated with the new sulphur cap regulation, but their ability to sustain these will depend on market fundamentals…

Maritime Reporter Magazine Cover Aug 2019 - The Shipyard Edition

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

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