Maersk Line News

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.

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…

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…

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.

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…

26 Sep 2018

Maersk Amends Dangerous Goods Stowage Rules

Photo: Maersk Group

Aiming to further improve safety practices in stowage of dangerous cargo aboard container vessels, Maersk has completed implementation of new guidelines on dangerous goods stowage.After a thorough review of current safety practices and policies in the stowage of dangerous cargo, Maersk has now completed implementation of new guidelines to improve safety across its container vessel fleet, said a press release from the company.Following the tragic fire aboard Maersk Honam in March this year, Maersk took measures and implemented additional preliminary guidelines for stowage of dangerous goods.

26 Sep 2018

Maersk: New Cargo Guidelines After Containership Fire

The Indian Coast Guard battles flames aboard the Maersk Honan (File photo: Indian Coast Guard)

Maersk has implemented new guidelines on dangerous goods stowage that aim to improve safety practices across its fleet in the wake of the fire aboard containership Maersk Honam that killed five crewmembers earlier this year.Following the deadly fire, Maersk evaluated more than 3,000 United Nations (UN) numbers of hazardous materials in order to further understand and improve dangerous cargo stowage on board container vessels and developed a new set of principles called Risk Based Dangerous Goods Stowage.Together with the American Bureau of Shipping (ABS)…

20 Sep 2018

Global Ship Lease Bags New Time Charter with Maersk Line

File Image: Global Ship Lease

Global Ship Lease announced a new time charter with Maersk Line for the 2004-built, 8,063 TEU containership OOCL Ningbo, which has been renamed GSL Ningbo, following her redelivery by OOCL on September 17, 2018.The containership charter owner said in a press release that the vessel will be chartered, commencing on or around September 21, 2018, for a period of between two and 12 months, with a subsequent option for an additional 12-month extension (at charterer’s option).During the first three months…

19 Sep 2018

Maersk to Merge Damco, Ocean Product Units

(Photo: Eric Haun)

A.P. Moller-Maersk will merge Damco Supply Chain Services and Maersk Line's Ocean Product, the Danish shipping giant announced on Wednesday, as it seeks to offer customers the chance to deal with one firm when shipping goods across the world.The operator of Maersk Line, the world's largest container shipping company, kicked off a restructuring drive in 2016 that saw it sell its oil and gas business last year to focus on transport and logistics business.Maersk said its latest change would take effect on January 1…

17 Sep 2018

Maersk to Spend $2 Bln to Meet 2020 Sulphur Cap

(Photo: Eric Haun)

Maersk Line said it will introduce a new Bunker Adjustment Factor (BAF) surcharge designed to recover costs of compliance with the global 0.5 percent sulphur cap set to enter into force on January 1, 2020. The Danish container carrier said it expects its extra fuel costs could exceed $2 billion.The BAF surcharge will be introduced on January 1, 2019, replacing Maersk Line's current Standard Bunker Adjustment Factor (SBF) surcharge. The new surcharge considers the average fuel…

22 Aug 2018

Mumbai Maersk Loads World Record 19,038 TEU

(Photo: APM Terminals)

With 19,038 TEU loaded on board, the Mumbai Maersk has set a world record for the largest-ever containership cargo.The second-generation Triple-E containership left the dock of Malaysia’s Tanjung Pelepas Port over the past weekend and is now sailing into Europe. The ship is scheduled to make its first stop at Rotterdam on September 5.Mumbai Maersk, the newest to enter Maersk Line’s Triple-E fleet in May 2018, has a nominal capacity of 20,568 TEU and is deployed on the Asia-to-Europe service (AE5).The 19…

13 Aug 2018

Maersk Line Pushes Restart in Maldives

(File photo: Maersk Line)

Maersk Line announced it has restarted shipping operations to the Republic of Maldives on the heels of rapidly growing market and meeting customer needs.The world’s largest container shipping company introduced a weekly service between Colombo and Male in an initiative aiming to provide a strategic trade opportunity to countries in South Asia.“Maldives has a flourishing tourism market and offers an excellent opportunity for global trade. Interestingly, around 90 percent of Maldives trade is import driven and spearheaded by China, India and Sri Lanka.

02 Aug 2018

Maersk Line Establishes Commercial Office in Nepal

Photo: Maersk Line

Maersk Line, the global containerized division of the Maersk Group, announced the commencement of its new commercial office in Kathmandu, Nepal from 1st of June this year.Maersk Line since its entry into the Nepal market over 20 years back has been providing shipping and logistical solutions through its strong network in India. However, with the rapid growth of trade in the region, Maersk Line sees an opportunity to serve its customers better by being closer to them.Maersk Line’s…

25 Jul 2018

Hyundai Merchant Marine Joins NYSHEX

Image: NYSHEX

The New York Shipping Exchange (NYSHEX), the innovator of the first reliable digital forward freight contract for global container shipping, announced the addition of Hyundai Merchant Marine (HMM) as the newest carrier member to join the exchange.HMM joins a group of innovative carriers – Maersk Line, CMA CGM, Hapag Lloyd, OOCL, and COSCO – who have embraced the value of digital contracting and fully enforceable ocean freight contracts as a new offering for their customers. Model introduced by NYSHEX that is proven by a 99.8% fulfillment rate…

Maritime Reporter Magazine Cover Mar 2019 - Cruise Shipping

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