Among this week's highlights were interim reports from suppliers Alfa Laval and Wärtsilä as well as an interview with Dan-Bunkering's new CEO, while DSV and the Port of Gothenburg talked about communication in relation to unique situations.
Hyundai Merchant Marine has reduced its capacity by 28 percent in the period from April to June, according to Alphaliner. HMM has chartered nine vessels to the 2M alliance members Maersk Line and MSC, with whom the South Korean carrier has formed a vessel sharing agreement.
The medium-sized niche carriers have grown their fleets 12.8 percent since the turn of the year. This is significantly more than the global carriers for instance, and could lead to fierce competition among all niche carriers, notes SeaIntel.
When the delays were at their worst, Maersk vessels arrived a little over 24 hours late on average. But the delays were short-lived, according to a new analysis by SeaIntel. The IT problems are almost over, says Maersk Group.
Analyst firm Alphaliner points to Singapore-based Pacific International Lines (PIL) as the most obvious acquisition candidate among the four carriers currently not part of the major alliances in the container market. However, the owning family told ShippingWatch in May that a sale was not in the cards.
German shipowner and ship management company E.R. Schiffahrt will gain another three vessels from Maersk Line under management. As such, Maersk Line will have nine vessels under management with the German company.
Tung Chee-hwa will see his personal net worth increase by around USD 400 million according to the Bloomberg Billionaires Index, based on the USD 6.3 billion Cosco offered for his family's Orient Overseas International Ltd.
The huge consolidation wave sweeping the container industry is about to wind down with Cosco Shipping's billion-dollar acquisition of OOCL, say several analysts to ShippingWatch. Two players look set to become losers in the wake of the trend.
Cosco is expecting a profit in the first half of the year from Cosco Shipping Holdings, which covers the Chinese container carrier's business. Improved freight rates will provide a boost, anticipates the company.
The large-scale cyber attack on Maersk crippled significant parts of the group and characterized a week in which future capital and ownership conditions also took center stage among the week's top picks on ShippingWatch.
Companies can once again book Maersk's vessels to transport their cargo, informs the Danish shipping giant. And APM Terminals' container terminals are operational again although there could be delays, says Maersk Group in its latest update about the massive cyber attack Tuesday.
According to Alphaliner, there does not seem to be much factual evidence to support the claims that the container merger between Japan's three biggest carriers will disrupt competition in South Africa.
Maersk customers such as Jysk and DSV are currently trying to get clarification concerning the situation following Tuesday's cyber attack. If worst comes to worse, they could look toward other carriers, they tell ShippingWatch.
The hacker attack on Tuesday against the Maersk Group constitutes a massive test of the group's security procedures, analyst Lars Jensen of Seaintelligence Consulting tells ShippingWatch. The problems are now accumulating.
A hacker attack has triggered a large-scale crash of Maersk Group's IT systems, the company tells ShippingWatch. It remains unknown how the group's customers will be impacted. APM Terminals has also been struck in ports in the US and Netherlands.
Just as a wave of mergers and acquisitions has consolidated container carriers in recent years, the many German tonnage owners need to join forces. One of the premier personalities in German shipping, Claus-Peter Offen, tells ShippingWatch that he is ready to spearhead the process.
Starting next month, Maersk Line's customers will be able to monitor where the carrier's reefer containers are located as well as the internal temperatures. This comes in response to requests from customers, says CCO.
The container carriers' higher freight rates do not constitute an actual problem for Danish freight forwarder Scan Global Logistics. But the CEO tells ShippingWatch that he hopes prices will soon stabilize.
APM Terminals lays off 160 in Gothenburg in a move to end the protracted port labor conflift. Shipowners look to postpone the ballast water convention by two years. Shippers worry about a shortage of reefer containers. Oil is headed for USD 40. Here are this weeks top picks.
Newly-established container carrier MPC Container Ships plans to have 35 to 50 feeder vessels within a year. "This would be a good starting point for us," the CEO of the Oslo-based company tells ShippingWatch.
Shippers in the Global Shippers' Forum were already sounding the alarm this March about the consequences for importers and exporters of goods such as food. Their concerns surfaced in relation to the merger of Maersk Line and Hamburg Süd and have only grown in the months since.
Chinese Cosco Shipping has ordered 14 new container vessels for USD 1.8 billion in order to boost its fleet between Asia and Europe, where carriers such as Maersk Line, MSC and CMA CGM currently dominate.
Evergreen Line has entered a partnership with Alibaba for online booking of container transport. The Taiwanese carriers thus follows suit behind competitors such as Maersk Line, CMA CGM, and Cosco, all of which have formed similar arrangements with the Chinese IT behemoth.
Tim Wickmann steps down as CEO of Maersk Line's Asian subsidiary MCC and leaves the Maersk Group after 27 years. He will be replaced by an experienced Maersk exec who takes over as CEO of the Singapore office in August. Also, a new head of Southeast Asia has been appointed.
Spot rates from China to South America rose to their highest level since 2009 after a doubling over the last three months. North-to-South rates weighed down Maersk Line in particular in the first three months of the year.
Even though China's Cosco and Orient Overseas in Hong Kong reject whispers of an imminent merger worth around USD 4 billion, it is likely only a matter of time before a deal is settled, reports Drewry and others.
MSC is taking over full ownership of one of Brazil's most important export ports in Portonave for almost USD 400 million. The container carrier thus solidifies the concentration of carriers in Latin America's largest economy.
A bomb threat on a Maersk vessel in the US, a shortage of containers in Latin America's largest economy, and several member states urging the EU not to change national subsidy rules were among this week's top stories on ShippingWatch.
Is Maersk Line now also a bank? The carrier has, at any rate, doubled its lending business to customers in just one year, project manager Vipul Sardana tells ShippingWatch. The Trade Finance project is now launched in the US. After the US comes UAE.
The global container carrier and major customer of APM Terminals in Port of Gothenburg now says that it is considering rebooking close to 50 percent of its port calls. The announcement follows the gridlocked conflict between dockworkers in the port and APM Terminals.
Food goods are towering up on Brazil's east coast and every part of the supply chain from exporters, to port terminals, and warehouses are struggling with a lack of refrigerated containers. Carriers such as Maersk Line, MSC, and Hamburg Süd have moved containers to other locations in Latin America where rates are higher, critics tell ShippingWatch.
A 48-hour strike has completely stalled one of Europe's most important container ports, Algeciras in Spain, until Friday morning. According to Spanish media, Maersk Line plans to permanently withdraw some of its volumes from the key port. MSC vessels have been rerouted.
MSC battled fierce competition for its North European business, as evident from the annual report 2016, in which the bottom line suffered a significant setback. The carrier expects to maintain a positive result for 2017.
Investment bank Jefferies expects that Maersk Line will improve its result for 2017 by USD 2 billion. This is 32 percent above consensus among analysts and twice as much as Maersk Line CEO Søren Skou has previously projected.
Arab boycott of Qatar with the potential to create difficulties for Hapag-Lloyd, the collapse of Germany's Rickmers Group, and tanker carriers such as Torm and Hafnia in play in an expected consolidation wave, were among this week's top stories on ShippingWatch.
The culture at Hamburg Süd is born at the intersection of independence and an anchorage in the habits of a German industrial dynasty, among these not to open the doors to the public. With Maersk Line's acquisition, one question in particular becomes pertinent.
It will be possible after all for Maersk Line and other container carriers to ship cargo to Qatar even though the country has been isolated by its neighbors, headed by Saudi Arabia, informs the carrier.
Newly-founded shipowner MPC Container Ships has sold shares for USD 75 million. The funds will be used to buy more vessels. The company has already purchased 13 container vessels set to operate in feeder.
Just two weeks after the merger between Hapag-Lloyd and UASC, the boycott of Qatar is threatening to poison the partnership between two of the largest shareholders in the German carrier. Customers as well as other shareholders call for answers which are difficult to provide in the complex situation.
Qatar owns close to 15 percent of the share capital in Hapag-Lloyd, and this could pose problems for the planned capital expansion in light of the state's current conflict with its Arab neighbors, writes Alphaliner. Several container carriers are already hit by the boycott against Qatar.
The container sector's main tradelane from Asia to North Europe is being serviced by ever-larger vessels. The 2M alliance with Maersk Line and MSC is at the forefront of this trend in which the biggest container vessels are deployed on Asia-Europe, forcing the already large vessels down onto the smaller trades, notes SeaIntel.
When the oil price was at its lowest, it paid off for many carriers to once again sail south of Africa instead of using the Suez Canal. According to SeaIntel, this has changed as the oil price has increased.
Rickmers Holding is still working to settle a new restructuring after the company filed for insolvency at the court in Hamburg last week. The company's insolvency is "a blow to the German maritime cluster," says the German Shipowners' Association.
Another consolidation in the tanker industry. US President Donald Trump will pull the US out of the Paris Climate Accord. 180 years of shipping may come to a end at Rickmers Group. News from Nor Shipping. Read this week's top picks on ShippingWatch.
180 years of shipping history could be about to end as Germany's Rickmers Group has now officially filed for insolvency in Germany. The reknowned shipowner is thus headed for a dramatic and final collapse.
The International Chamber of Shipping will call on the IMO to continue its work to curb shipping's CO2 footprint despite President Trump's decision to withdraw the US from 2015's Paris Climate Accord, Chairman Esben Poulsson tells ShippingWatch.
MPC Container Ships adds another three container ships to the company's growing fleet. With the latest acquisitions, the newly-established shipowner now owns 11 feeder vessels, all geared towards the feeder market.
The influx of new mega-ships onto the world seas this year along with new alliance networks spell good news for feeder carriers such as Unifeeder, which expects growth and higher earnings in 2017 after weaker 2016 results than expected.
Shipowner MPC Container Ships will be listed on the Norwegian stock exchange Merkur Market. MPC Container Ships was founded by MPC Capital and financed with Norwegian money. Earlier this month, the company bought seven container vessels.
Since the first generation of larger container vessels hit the water in 2012, things have only gone one way for the number of weekly departures on major routes. SeaIntel has reviewed how many departures the major vessels have cut from their schedules.
Monjasa suffered massive deficit, while broker Lightship lost a dramatic court case to a former partner. And Dong found a buyer for the company's oil and gas business. Here are this week's top stories on ShippingWatch.
Hapag-Lloyd and UASC are now officially merged after the two container carriers have agreed on the last remaining formalities in the deal. The merger will create the world's fifth-largest carrier by capacity. Get the latest details here.
Container carrier CMA CGM increased its net earnings in the first quarter 2017, which marked a big improvement compared to the same period last year. The acquisition of APL contributes positively to the business for the first time.
The EU Commission is informally contacting stakeholders to determine if the prices between Europe and Asia have increased after April 1 this year as a consequence of the fact there are now only three major container alliances left operating.
Cosco Shipping Group plans to launch a large financing fund for targeted investments in shipping. The fund will be split into a yuan fund and a dollar fund and will focus on, among other things, struggling companies.
A "temperature reading" of how far container companies have gone with their digital customer service does not bode well for customers and the general service level, concludes SeaIntel after carrying out a new test.
Bondholders have become an unforeseen powerhouse in the many restructurings of maritime companies. This is visible in the case of Rickmers Maritime and Rickmers Group which are currently fighting with bondholders.
Like its major competitor Maersk Line, German container carrier Hapag-Lloyd was slammed by higher bunker prices in the first quarter, where the carrier booked a loss of EUR 62.1 million. Expenses for ports and terminals towered up for the company, writes Clarksons Platou.
Maersk Line's deficit is symbolic of continued struggles throughout the container industry, analyst Lars Jensen tells ShippingWatch. He thinks that two things in particular are worrying about the numbers. CEO Søren Skou on the other hand stand firm on the forecast for the full-year 2017.
Bondholders are uncertain about the rescue plan proposed by German shipping company Rickmers Group aimed at securing continued operations. The plan includes Chairman Bertram C. Rickmers surrendering control of parent unit Rickmers Holding.
In the wake of massive consolidation, pressure is mounting on medium-sized container carriers such as Singapore-based PIL. "But we are not for sale," the carrier's Executive Director Lisa Teo tells ShippingWatch, although she does acknowledge the challenges ahead.
Customers have been saying it for a long time, and new figures document that the container carriers are far from able to comply with their service schedules. Maersk Line acknowledges to ShippingWatch that the industry including the carrier itself is not performing satisfactorily. "We have a service problem that needs to be solved."
Peter Frederiksen, who since 2012 has been part of the executive team at Hamburg Süd, will leave the German carrier when Maersk moves in. Now he plans to pursue an active board career, he tells ShippingWatch in an interview.
Norden off to a weak start in dry bulk in 2017, a record-large deficit for DSV, strong results from oil majors, and increased political focus on shipping by US and EU authorities were among this week's key stories on ShippingWatch.
Spot rates on the key container tradelane Asia-Europe took a big dive last week, according to a survey from Drewry. The firm expects the rates to keep sliding as there is by now more space available for shippers.
Arne Blystad seems to have expanded his business to the container market. According to several public registers, Blystad has established the company Songa Container along with a Norwegian partner. So far, the fleet counts three vessels, according to data from Vesselsvalue.com.
100 companies are responsible for more than 70 percent of industrial emissions of greenhouse gases since 1998, reveals a new investigation. Maersk Group is included on the list of the biggest polluters which is particularly dominated by oil companies.
Cosco Shipping's acquisition of OOCL this Sunday was the latest in a long line of mergers that have significantly altered the container industry over the past five years. See which mergers have taken place here.