Maersk Line has for the first time quantified its growth ambitions for Hamburg Süd, a takeover transaction the carrier is expected to complete before long. "It's a long-term ambition, but there's no doubt that our expectations are high," COO Søren Toft tells ShippingWatch.
The powerful US dockworker union ILWU has succeeded in slowing the development towards automation in Los Angeles and Long Beach. A new law holds that environmentally-friendly vehicles in the ports must not be fully automated or remote controlled in order to secure subsidies.
Compensation claims filed against collapsed OW Bunker, the publication of names of sulfur violators, and J. Lauritzen's Supreme Court defeat against MAN Diesel & Turbo were among this week's top stories on ShippingWatch.
Container carriers are finally starting to understand the use of social media. Or at any rate, the carriers seem to be more present on these platforms. Two carriers in particular are doing well, concludes SeaIntel in a new analysis.
Yet another large order for as many as 11 container ships to MSC is currently being negotiated and settled in South Korea, inform the country's shipyards – but the carrier has not confirmed the order, for which the tense relationship to North Korea allegedly figures as a joker.
Chinese Cosco Shipping has initiated a time charter deal with Singapore's PIL for 12 vessels. Earlier this year, it was rumored that PIL would be the next acquisition in the consolidation wave in the industry, report several media.
Improvements at the yard mean that the scrapping of the two Maersk vessels, which arrived in Alang more than one year ago, will not be completed until this fall. The yard has, among otger installed a 300-ton crane, Maersk tells ShippingWatch.
Chilean container carrier CSAV has had to dilute its stake in Hapag-Lloyd by USD 167 million following the German carrier's merger with UASC. CSAV is looking to get back to a stake totaling one fourth of the shares, says the carrier in its interim report.
The Icelandic carrier maintains its expectation to land an operating result of almost EUR 63 million in 2017 after releasing its Q2 report. Exchange rate effects contribute to reducing the deficit on the bottom line, shows the report.
German shipping group NSB has joined forces with Indonesia's Temasline to form a joint venture based in Indonesian capital Jakarta, thus growing its operated fleet to 96 vessels. None of the vessels are currently sailing under German flag.
Investments totaling hundreds of millions of dollars will be needed over years to come in order to ensure the new strategy for Royal Arctic Line and the sailing to and from Greenland, according to an internal brief to employees.
Hamburg Süd's current and coming chairman, Ottmar Gast and Arnt Vespermann, have unveiled hitherto unknown details about the billion-euro sale to Maersk Line. A virtual room with access to 20,000 documents has played an important role.
Søren Toft has already played an important role for Maersk Line's acquisition of Hamburg Süd, which is called the deal that must not fail. Therefore, the 43-year-old COO is working hard to settle the last details. ShippingWatch paints a portrait of Søren Toft
According to ShippingWatch's sources, CMA CGM will place its hotly-discussed order at Chinese yards for nine of the world's largest container vessels within a few weeks. It is part of a package which will benefit both China and the French carrier. Port and terminal rights are allegedly part of the deal.
Although analysts do not believe that Hapag-Lloyd can present rate increases similar to those at Maersk Line when the German container carrier releases its half-year interim report Tuesday, there is faith in Rolf Habben Jansen's plan for the carrier.
Italian MSC is, according to Tradewind's information, ready to place an order for 11 container ships of 22,000 teu each worth a total USD 1.5 billion. This is shortly after competitor CMA CGM according to sources also ordered new mega-vessels.
Maersk Line lost a surprisingly large portion of the market in the past quarter during a time when rates have been booming. But this is not an expression of the carrier lacking ambition to maintain and defend its market share, says COO Søren Toft to ShippingWatch.
CEO Søren Skou was unable to deliver what analysts, competitors, and undoubtedly shareholders had expected. The carrier has lost market shares at what looks like the worst possible time, observers note. Fully in line with expectations, says Skou.
Maersk Line grew, benefiting from a strengthened container freight market, while major impairments at Maersk Tankers and APM Terminals dragged the group's overall results down. And the hacker attack came at a high price.
The Maersk Group's product tanker carrier, Maersk Tankers, lost more than USD 483 million in the second quarter, a deficit that pulls the group into the red. Port unit APM Terminals also booked impairments related to several ports.
The world's largest container carrier, Maersk Line, achieved a USD 339 million profit in the second quarter. Freight rates are up 22 percent compared to last year, while impairments in other business units dragged down the group's overall result into the red.
Revenue in container ports was so promising in the first half of the year that Drewry believes growth in the full-year 2017 could reach the highest level since 2011. Global growth is driving the market, notes the firm.
The difference in flow between head haul and back haul routes has increased significantly in the first half of the year, and carriers now face the biggest imbalance since 2014, writes SeaIntel in a new analysis.
The Maersk Group is about to release a strong interim report, in which Maersk Line's profits in particular will boost the overall results, note several analysts who add that this looks like CEO Søren Skou's last chance to prove that his plan is working.
One of the world's leading rating agencies, Moody's, once again believes in the shipping sector which no longer has negative prospects. There are positive expectations to the container and dry bulk segments, shows a report from the firm. It is a whole other story for tanker carriers.
Maersk spends millions of dollars every year in its efforts to shape the political process at the forge of power in the US. ShippingWatch has looked into which political cases the Danish company's lobbyists are working on, and why.
Key players in the large market for export of frozen fish from northern Norway disrupted Icelandic Eimskip's acquisition of Nor Lines. It would have weakened competition significantly, according to Samskip and other players in the market.
The 14 carriers in a new South Korean collaboration, constituting the South Korean government's attempt to strengthen several of the country's ailing carriers, seems to have received a tepid response from participants, according to Alphaliner.
Communication plays a key role in the transformation of 170-year-old Hapag-Lloyd, explains communications director Nils Haupt. From external branding, communication with politicians and consumers to the internal shaping of a company. This is the latest article in ShippingWatch's series about communication in the maritime industry.
Rumors of a tonnage expansion have surrounded France's CMA CGM for some time, and now several media report that the carrier will soon place an order for a series of container ships with capacities upwards of 22,000 teu, which would be the world's biggest container vessels so far. The carrier remains silent.
The Brazilian foreign trade chamber will terminate an agreement that provides two carriers owned by Hapag-Lloyd and Hamburg Süd with exclusive rights on sea freight between Brazil and Chile, reports Reuters.
South Korea's new president is allegedly prepared to go further than his predecessor in efforts to aid the country's crucial maritime industry. Part of the plan is establishing the Korea Maritime Promotion Agency. The EU has previously criticized the country's involvement in the maritime sector.
SeaIntel's latest calculations show that Maersk Line is far from the days when it could boast towering schedule reliability levels. The carrier is now ranked 9th among the 18 largest container carriers.
Greek Danaos is still struggling with fallout from the collapse of Hanjin, to which the container shipowner had chartered several vessels. Meanwhile, the market will remain under pressure from the many mega-vessels, says CEO John Coustas, who does not expect recovery anytime soon.
Freight rates on the Asia-North Europe services have been moving in the right direction, and in 2017 shipowners are poised to earn over USD 1 billion more than in 2015, shows a new analysis from SeaIntel.
Japan's three biggest carriers, Mitsui OSK, Kawasaki Kiesen, and Nippon Yusen, have published interim reports for the first quarter. The results fall in line with the trend from the carriers' numbers for the full-year 2016.
This summer week brought several key stories. ShippingWatch reported on the Danish Attorney General's indictment against Lars Møller of OW Bunker. The first half year results of bulk and container bode well for the two sectors. And the new Dan-Bunkering CEO unveiled his ambitious growth target.
Container carrier Orient Overseas Container Lines (OOCL), which is on track to be sold to Cosco, can look back on a second quarter with a significant boost in revenue. Stronger rates indicate an overall positive result for the container sector in the second quarter, says Fearnleys.
Iceland's Samskip has acquired Norwegian shipping and logistics company Nor Lines, which competitor Eimskip tried in vain to take over earlier this year. The acquisition awaits approval by Norwegian regulators.
Hyundai Merchant Marine reports increased transport between Asia and the US West Coast and is optimistic about higher volumes in the third quarter this year, says the carrier, which partners with Maersk Line and MSC.
The anticipated growth in container volumes on the intra-Asian routes will be smaller than previously estimated, writes analyst firm Drewry. But the routes will still "make a significant contribution" to the global container growth this year, notes the firm.
Following two major mergers, Hapag-Lloyd's potential talent pool has grown substantially. But so has the diversification among the candidates. With two programs, the German carrier aims to foster what could become the next CEO. Self-reflection is crucial for advancement.
35 percent of the container vessels sailing between Asia and North Europe are ultra-large ships with capacities exceeding 18,000 containers – and this number will increase significantly within the next few years, shows an analysis by SeaIntel.
Employees at the major container carriers point first and foremost to a shortage of career opportunities, and they are not necessarily pleased with senior management, according to new data from recruitment firm Glassdoor. The data bring good as well as bad news for Maersk Line and MSC.
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.
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.
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.
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.
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.
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.
There are no other interesting acquisition candidates for Maersk Line if the Hamburg Süd purchase fails, says Lars Jensen, CEO of Seaintelligence Consulting. Instead, the carrier will have to do what it should have done a long time ago, he tells ShippingWatch.
Hapag-Lloyd has, by its own account, grown significantly in the reefer segment following the merger with United Arab Shipping Company. The carrier has therefore now ordered 7,700 reefer containers, set to be produced in Chile.