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CMA CGM achieved a profit in strong Q1

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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.

Hapag-Lloyd seals merger with UASC: "A milestone in history"

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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.

EU tests possible effect of new container alliances

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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.

Hapag-Lloyd's deficit grew in Q1 2017

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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.

Owner family defends PIL's autonomy

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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.

Maersk Line: We have a service problem

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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."

Maersk executives enter Hamburg Süd management

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Two prominent senior executives from Maersk Line will join the management team of German container carrier Hamburg Süd. The carrier has also tapped a new CEO from its own ranks for when Ottmar Gast steps down. The changes are contingent on the finalization of the acquisiton.

Maersk Line to take delivery of 27 ships in two years

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With the delivery of Madrid Maersk, the first vessel in its new mega-series, Maersk Line has begun to take delivery of the 27 vessels set to enter the company’s fleet over the next two years. The carrier will return short-term chartered vessels from all segments to their owners, explains COO Søren Toft.

Last week's top stories on ShippingWatch

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Several EU member states, including Denmark, are currently having their state subsidies to carriers and maritime businesses scrutinized, while John Fredriksen's efforts to take over DHT continue. And ShippingWatch was present at the major shipping conference in Singapore this week.

Maersk Line: 2017 off to a good start

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2017 has already been hailed by Maersk Line and several of its biggest competitors as the year in which the miserable results from last year will be replaced by a de-facto turnaround. Things have developed positively so far, Maersk Line's head of Asia and the Pacific tells ShippingWatch.

This week's top stories on ShippingWatch

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J. Lauritzen's bondholder dispute was resolved, the carrier relying on money from its owner. More details emerged about the EU approval of Maersk's takeover of Hamburg Süd. And Rickmers Maritime had to throw in the towel. Keep up with this week's top stories on ShippingWatch.

DVB doubts container carriers' optimism

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One of Europe's largest shipping banks, DVB, does not share the 2017 optimism of container carriers. "We have not yet seen the effect of the bottom in the financial reports," says DVB's Managing Director of Shipping and Offshore to ShippingWatch.

CSAV booked loss in 2016

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Chilean carrier CSAV, which was bought by Hapag-Lloyd in 2015, emerged from 2016 with a bottom line deficit. "We continue in a scenario of high volatility of rates," says CEO Oscar Hasbun according to Seatrade Maritime.

This week's top stories on ShippingWatch

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Significant resignations at J. Lauritzen, large deficits from Hapag-Lloyd and the rest of the container sector, the Maersk Group General Assembly, and massive volumes of oil left on two sunken Maersk vessels featured among this week's top stories.

Cosco booked huge loss in 2016

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Chinese container carrier China Cosco Shipping Holdings booked a billion dollar loss on the bottom line in 2016. The carrier expects better conditions for container carriers this year than last year, writes Reuters.

Shippers want the EU to look into liner rules

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"If the container carriers see themselves as key players in the supply chain, they have failed," European shippers tell ShippingWatch following a members’ meeting Tuesday. The European Shippers' Council is ready to involve the EU to weigh the dominance of the three alliances.

Maersk Line: Anti-corruption effort working

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The container carrier has from 2015 to 2016 virtually eliminated the use of so-called facilitation payments, namely the mild form of bribes as payment in the form of, for instance, cigarettes for pilots, customs officials, and port authorities, reports Danish media dr.dk.

Last week's top stories on ShippingWatch

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Shipowner Johan Wedell-Wedellsborg opened up about the sale of Stena Weco to Stena Bulk, Maersk Group CEO Søren Skou is building a new CEO Office, and the dry bulk shares have skyrocketed in 2017 so far. Here are this week's top picks on ShippingWatch.

Unifeeder hit by dominance of German banks

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The downturn in German shipping means that a smaller number of banks have now taken over a large number of feeder vessels from ailing shipowners. This development was noted at Unifeeder in the first half of 2016, as charter prices increased. Yet this trend has turned around, says CEO Jesper Kristensen.

HSH Nordbank has scaled down container exposure

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HSH Nordbank has reorganized its shipping portfolio and has thus significantly reduced its exposure to the container segment. Christian Nieswandt, global head of shipping, tells ShippingWatch about the future prioritization for the billions of euros the bank has invested in shipping.

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