Gridlocked negotiations between APM Terminals and dockworkers in Gothenburg, a new full-year deficit for J. Lauritzen, and a change in strategy at Damco are among this week's top stories on ShippingWatch.
The conflict between port workers and the management of APM Terminals in Gothenburg has reached a total impasse and is now at its most severe point since the conflict began close to a year ago. A crucial meeting between the parties Wednesday ended without a result.
Slightly more cargo passed through the Port of Hamburg in 2016 compared to the year before. Container volumes increased, while the port was also able to increase volumes from China. But there is still some distance to Rotterdam and Antwerpen.
APM Terminals will invest USD 200 million in its terminal in Port Elizabeth on the US East Coast. The move will prepare the terminal for the ultra-large container vessels which are soon expected to call in the port.
APM Terminals has received the final approvals to operate the newly built terminal in Guatemala, which is at the center of a large-scale corruption scandal. The first ship called on Sunday, and the terminal is expected operational soon. The opening was met with local protests.
CEO Morten Engelstoft has already kicked off the work to bring APM Terminals and Maersk Line closer together. In an interview with ShippingWatch, he outlines three concrete points on which the two companies will help each other.
Swedish dockworkers have announced more strikes at the Port of Gothenburg. According to Swedish industry media Dagens Industri, the managing director of APM Terminals in Gothenburg, Henrik Kristensen, calls on the Swedish government to help resolve the conflict.
Only 1.2 percent more containers went through the Port of Rotterdam in 2016, according to a review of the revenue last year at Europe's biggest port. But the combined revenue for all segments declined.
15 years after the first application was submitted, the Port of Hamburg has now secured approval for an expansion of the Elbe waterway. In particular, the port hopes to attract more of the ultra-large container vessels which sail to and from China. But environmental NGOs oppose the expansion.
Digitalization emerges as the theme when outlining the reasons behind the nomination of Jim Hagemann Snabe to chair Maersk Group and replace Michael Pram Rasmussen who is stepping down. Here is a portrait of Snabe and a focus on some of the digital challenges.
Dubai-based terminal operator DP World increased its handled volumes of twenty-foot container units in 2016. Volumes grew six percent in the fourth quarter alone, says the company, noting that this development was driven mainly by strong growth in Asia, the Pacific, and Europe.
Perhaps Maersk Line can expect a positive result in its interim report, set for release next Wednesday. The battle for the ballast water market has begun. John Fredriksen struggles with two separate issues. And Shipping and offshore are hurting banks. Read this week's top picks on ShippingWatch.
Port of Gothenburg was able to increase its combined cargo volume by close to three million tons in 2016, but the conflict between the Swedish port workers and APM Terminals contributed to declining container throughput and led to "major disruptions."
Offshore and marine company Keppel delivers its smallest annual profit in ten years and will thus close three yards in its homeland of Singapore. The workforce has been reduced by about one third and the CEO is ready to do what is necessary.
A new port in Angola in West Africa is financed by a major Chinese loan and being built by a Chinese company. The first phase is expected done in late 2017 and will feature a repair yard and a free trade zone.
The Port of Hong Kong handled far more containers in December than in the same period last year, but the overall container throughput in 2016 is a major disappointment and marks the lowest level since 2002.
Dismissals at J. Lauritzen, new cases in the wake of OW Bunker, and the crisis in the oil and gas sector leading to fresh firings at Maersk Oil – these were among the top stories on ShippingWatch this week.
Shanghai cemented its position as the world's busiest container port in 2016. Despite a tough year for global trade, the port succeeded in increasing the number of twenty-foot containers. Singapore follows in second place.
Massive investments and not least dredging is needed in the Port of Gothenburg if the Swedish port is to maintain its status as Scandinavia's top container hub, notes a new OECD report. More direct container routes represent a crucial asset for the port.
Interview with Maersk Tankers' new CEO, Christian Michael Ingerslev, a new Asian container alliance, a surge in dry bulk shares, and rigs ready to be scrapped in the North Sea were some of this week's top stories on ShippingWatch.
Increasing pressure on all business segments meant that big decisions had to be made at Maersk Group's headquarters in Copenhagen, but stock market developments suggest that the outcome has been positive.
Europe's largest port, Rotterdam, is demanding full transparency in the state aid for competing ports such as Antwerp and Hamburg, after the EU Parliament recently passed a port package which has been in the works for 15 years.
The forecasts are all positive when it comes to global economic development but the risk factors have not diminished. Finans can guide you through the bright spots and the pitfalls of the global economy in 2017.
Korea's top port, Busan, will take a big hot from the collapse of Hanjin Shipping and the subsequent changes reverberating through the container alliances, where Hyundai Merchant Marine will now collaborate with 2M, reports Korea Herald.
Mitsui OSK Lines was blamed for a dramatic 2013 wreck, Hyundai Merchant Marine lashed out at Maersk Line, while Kristian Mørch talked about his turnaround of Odfjell this week on ShippingWatch, which also brought news about Thorco, Rickmers Maritime, and the oil sector.
The port in Guatemala which APM Terminals acquired earlier this year as part of a Spanish terminal group, and which turned out to be plagued by severe corruption accusations, is expected to launch operations soon, APM Terminals tells ShippingWatch.
MSC has signed a deal to acquire Hanjin Shipping's stake in Total Terminals International, which covers the terminals in Long Beach and Seattle in the US. MSC will thus become sole owner of the terminals.
The ports by the Baltic Sea seem to be catching up after the downturn they experienced when sanctions were introduced against Russia in 2014 in response to the Crimea crisis, according to a new analysis from SeaIntel.
Maersk finally presented its plan for what the group will look like going forward, and what will be sold off. The group also received some rare criticism from Denmark's conservative government. A new shipping bank saw the light of day, and another wants to be global. Here are this week's top picks on ShippingWatch.
South Korea's Hyundai Merchant Marine is withdrawing its part of the bid on the Long Beach terminal in California alongside MSC, citing the company's low credit rating, reports the Wall Street Journal.
APM Terminals' CEO Morten Engelstoft will review the entire portfolio of ports and non-core activities, and ownership stakes are not a sacred cow to him. There could potentially be divestments of non-strategic assets as well as reducing ownership in ports, he tells ShippingWatch.
Closer cooperation, reduced investments, and increased efficiency. These are three of the key words in Maersk Group CEO Søren Skou's plan for how Maersk will be transformed, going forward, into a company operating exclusively in the container industry.
Arab terminal company DP World has entered into a joint venture with one of Canada's largest pension funds to establish an investment platform of USD 3.7 billion. 25 percent of the funds are earmarked for new projects.
The prospect of massive growth in Nigeria made the plans to build Africa's largest terminal in the country look like a clear winner when APM Terminals announced the project back in 2012. Today, the situation looks somewhat different.
Maersk Line acquired Hamburg Süd, the OPEC members agreed on a production cap, and a deal between Hyundai and the 2M alliance inched closer this week in the shipping industry. Make sure to read up on the continued trouble in Norwegian offshore as well.
SM Group, which owns Korea Line, wants Hyundai Merchant Marine to join the acquisition of Hanjin Shipping's terminal in Long Beach, California. The transaction remains subject to state-owned Korea Development Bank agreeing to lend the money to Hyundai.
Hundreds of dockworkers from various countries will travel to Aarhus, Denmark on Dec. 2 to demonstrate against Unifeeder in a conflict about lashing, informs the European Transportworkers' Federation (ETF).
On Dec. 13 when Maersk Group presents more details in the conglomerate's new strategy at its Capital Markets Day, topics at the top of the agenda will include transport, digitalization, and the divestment of Maersk Oil, reports Danish media Berlingske.
Maersk Line is one potential buyer in huge transaction rumored to be imminent in the container market. OPEC may be inching closer to a deal that would benefit tanker carriers. And the crisis deepens among supply carriers. Here are some of this week's top stories on ShippingWatch.
DFDS delivered another strong quarterly result during the past week of financial reports from several carriers, Maersk got burned by its own restructuring, and both bulk and tanker saw more setbacks. These were just some of the top stories this week on ShippingWatch.
Polish-born Magda Kopczynska has taken the reins of the EU's maritime directorate. ShippingWatch has interviewed an unconventional director, who enjoys extreme ocean sailing, about spearheading maritime politics at a crucial stage.
The biggest news this week was without doubt Donald Trump's victory in the US presidential election against Hillary Clinton, which came during a week also characterized by interim reports from tanker carriers and offshore players.
On Wednesday the Maersk Group published the conglomerate's third quarter interim report, which shows a deficit for the key business Maersk Line and a significantly lower group result overall. Below is an overview of the shipping and oil conglomerate's interim report.
The IMO reached agreement on the global sulfur directive, a list of Hanjin's creditors was published, and senior executives from the maritime sphere gathered for the Danish Maritime Forum in Copenhagen. Read about ING's lost OW Bunker case, struggling multipurpose carriers, and Maersk Line.
Dubai-based port and terminal operator DP World is positive about the future even though global trade is halting. The company experienced slight growth in the number of twenty-foot containers during the first nine months of the year, DP World informs in a market update.
A giant shipyard in Saudi Arabia will supply supply the country's oil industry with tanker vessels and rigs while also helping to create more than 10,000 jobs. Saudi Aramco and Hyundai Heavy Industries are part of the joint venture behind the yard. Investments will total billions of dollars.
The Panama Canal has now published tender documents for a new container terminal on the Pacific side, which will reach a capacity of 5.2 million teu in two stages. Maersk Group's APM Terminals and PSA are among the four prequalified contractors.
Maersk's return to the controversial scrapping beaches in Alang, a time-frame for the developments toward unmanned vessels, and Maersk Line''s competitors are now noting surprising developments at the group after the split. Here are this week's top stories on ShippingWatch.
The recovering oil price, the sale of Danish Ship Finance, the aftermath in Maersk's executive circles, and calls for a new CO2 roadmap from the IMO were among this week's top stories on ShippingWatch.
Bremen-based shipyard group Luerssen will acquire Blohm+Voss in Hamburg which has since 2011 been owned by UK-based equity fund Star Capital Partners. Luerssen now owns six shipyards in northern Germany with 2,800 employees.
This week was M Week. Capital M for Maersk's decision to split its businesses in two. Get an overview of the new Maersk here, along with the details concerning the verdict in a dramatic case against a Danish bunker company and the latest Hanjin developments. Here are this week's top picks on ShippingWatch.
A slowdown in the global economy, prestige projects currently in the doldrums, and calls for cost reductions at the organization. Add to this the latest mega-purchase which APM Terminals is forced to scrutinize due to a bribery case. There is plenty of work ahead for APM Terminals' new CEO, Morten Engelstoft.
Perhaps as early as tomorrow or Friday, Maersk's Group CEO Søren Skou will announce his plan for the new Maersk, which likely got the decisive backing from the group's board of directors during the weekend. ShippingWatch presents the first outlines of the new Maersk setup.
The maritime sphere in Europe is far from in agreement when it comes to limiting CO2 emissions from shipping. While the shipowners are highly critical of the European Parliament's plan to include CO2 in a cap trading system, the ports praise the proposal. "Most unfortunate," say the shipowners.
Trendsetting companies in sectors such as tanker presented financial reports, APM Terminals opened up about the future partnership with Maersk Line, and we got to know a shipping company which usually subscribes to a great degree of discretion. This week's top picks on ShippingWatch.