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Container rates soar to 20-month high

Container:

Spot rates on the 11 major East-West routes between Asia and Europe climbed to a 20-month high this week, according to Drewry's World Container Index. Further rate increases are expected in the week to come.


BY OLE ANDERSEN
Published 06.01.17 at 14:05

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Hapag-Lloyd's talents must draw on self-reflection to get ahead

BerlinExpress_print Hapag Lloyd.jpg Container:

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.

Maersk Line almost back at full steam after cyber attack

Container:

Maersk Line is now more or less back at full speed after the carrier took a bit hit from the Petya virus as part of a global hacker attack in late June.

Employees at container carriers point to lack of career opportunities

Container:

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.

Samskip to buy Eimskip's former acquisition candidate

Container:

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.

Number of mega-vessels on Asia-Europe set to explode

Container:

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.

Drewry lowers expectations for Intra-Asia

Container:

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.

Current front page

Attorney General: Lars Møller acted in his own interest

lars-moller (1).jpg Services:

The former CEO of OW Bunker's Singapore subsidiary, Lars Møller, had no interest in manipulating the numbers, said his defense team recently. Wrong, says the Danish financial police. The chief exec could bag himself a better bonus, according to the indictment.

German family acquires SAL from Japan's K-Line

Carriers:

The Briese and Harren family have a firm grip on the global heavy lift segment after K-Line has agreed to sell SAL Heavy Lift to company Salto, owned by Martin and Peter Harren. With Briese owning BBC Chartering and working closely together with Harren, the concentration of the segment in North Germany seems absolute.

Seadrill prepares investors for considerable losses

Offshore:

The drilling company has secured an extension of its deadline to negotiate a rehabilitation, but time is still running out and the company is now preparing its investors and other stakeholders for coming losses.

Subsea 7 projects rise in orders in first half of 2018

Offshore:

The offshore carrier achieved a higher revenue and improved bottom line in the second quarter. Recent acquisitions will contribute to a higher revenue for 2017 than last year, and the company expects a surge in orders in the strained offshore market.

Singapore's high court declares Ezra company bankrupt

Offshore:

Yet another company under Singapore's once-booming offshore company Ezra has collapsed. Subsidiary Lewek Champion, with the offshore vessel of the same name, has been declared bankrupt by Singapore's high court.

Oil hits USD 50, but Credit Suisse is slashing its forecast

Offshore:

Saudi Arabia has given the oil price a boost over the past few days, yet Credit Suisse is not positive about the future and is slashing USD 5 from its 2020 forecast.

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