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.
Tuesday's announcement that 160 employees will be axed at APM Terminals in Gothenburg was the only option for moving on from the conflict which has cost the terminal company customers as well as revenue. The dockworkers' union is shocked in the wake of the announcement.
Development of the container port in Lekki, Nigeria could perhaps become a new job for DP World, but it remains uncertain what exactly is going on and how great the potential is at the moment, writes Alphaliner in an analysis.
While strikes in Spain and Sweden's largest port Gothenburg are becoming increasingly entrenched, the customers and thus the carriers are seeking out alternatives. And they will not necessarily return when the strikes are over, according to data from Maersk Line.
One of APM Terminals' largest investments, the acquisition of Spanish Grup Maritim TCB, has yet to bring in major gains. This is evident from the annual report for the Maersk family's investment company A.P. Møller Holding, which has had to cut its dividends in half after a tough year for the Maersk Group.
The dry bulk carriers, sore after several tough years, are becoming increasingly optimistic about the future. But Herman Billung, who recently established dry bulk investor Songa Bulk, praises the slowdown in the sector. "Another six months and we'll be home free," he says.
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.
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.
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.
Despite protracted and crushing pressure on the shipping sector, several companies may not have reached the bottom yet. Ten analysts list their pick for the shares they believe will lose additional market value. One company stands out in particular.