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CMA CGM confirms exclusive discussions with Neptune Orient Lines

Container:

A combination between CMA CGM, which presented its third quarter interim report on Friday, and Singapore's NOL would contribute to the consolidation of the container shipping industry at a time when scale is more critical than ever, according to a release Sunday from CMA CGM.


BY OLE ANDERSEN
Published 22.11.15 at 10:48

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Most read Container

Maersk Line harbors great ambitions for Hamburg Süd

_T0A9720.jpg Container:

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.

No Plan B for Maersk Line if Hamburg Süd acquisition fails

Container:

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.

MSC confirms order for 11 ultra-large vessels

Container:

MSC has ordered 11 ultra-large container vessels to be built at South Korea's DSME shipyard, a spokesman confirms to ShippingWatch.

Maersk Line will lay off 4,000 employees

Container:

Maersk Line is now accelerating a long line of cost reduction initiatives. The carrier postpones investments in new ships, informs Maersk in a statement on Wednesday.

Maersk Line's acquisition of Hamburg Süd lacks one crucial approval

Container:

Eight months after sealing the acquisition of Hamburg Süd, Maersk Line is still waiting for one crucial approval from regulators in Brazil.

Saadé: Container stronger than it has been for years

Container:

The chief executive of France's CMA CGM, Rodolphe Saadé, sees no crises in the years to come for container carriers, which are currently benefiting from consolidation and stronger economic growth.

Current front page

Maersk Line gets vital approval for Hamburg Süd purchase

201212_NAVIOSHAMBURSUD02.jpg Container:

Brazil has cleared Maersk Line's billion-dollar acquisition of German Hamburg Süd. The transaction will strengthen Maersk Line's position on the South American market, and the approval is thus vital.

J. Lauritzen CEO: The carrier's future is smaller vessels

Bulk:

J. Lauritzen will gradually phase out larger dry bulk vessels when their contracts expire. "We're strong in Handysize, and that's where we've historically been the most profitable," CEO Mads P. Zacho tells ShippingWatch.

Demand for sulfur oil could boost US crude exports

Offshore:

The upcoming cap on sulfur emissions from vessels will boost the export of US crude oil, as the demand for low sulfur products will surge, reports Reuters.

Statoil vies for a stake in Abu Dhabi's offshore oil

Offshore:

A Norwegian diplomatic dispatch says Statoil is among the companies in talks with the Abu Dhabi National Oil Co regarding offshore production in the UAE.

Viking Supply needs owner's help to save bank agreement

Offshore:

Viking Supply Ships must ask its shareholders for more money after the offshore carrier breached the conditions of its deal with the banks. The carrier's majority shareholder is prepared to step in.

Two seafarers arrested as ship runs aground

Carriers:

A Danish-operated vessel ran aground in Sweden this weekend. The captain and first mate were subsequently arrested by Swedish police, on suspicions of being highly intoxicated.

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