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Photo: PR-foto/Eimskip

Eimskip ready for more acquisitions after record year

Container:

Icelandic container carrier Eimskip booked record-breaking earnings in 2016. Management expects that the positive trends will continue in 2017 where the acquisition of two logistics companies is expected to boost business. The carrier is still looking for more acquisitions.


BY NIKLAS KRIGSLUND
Published 24.02.17 at 08:14

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Most read Container

Family-owned PIL could be next acquisition candidate

pil.jpg Container:

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.

Cosco buys OOCL for USD 6.3 billion

Container:

Chinese shipping giant Cosco Shipping has made a USD 6.3 billion bid on Hong Kong carrier OOCL. Should the deal be approved, it will create the the world's third-largest container carrier.

Owner family defends PIL's autonomy

Container:

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.

CMA CGM enters partnership with Dutch reefer specialist

Container:

CMA CGM has formed a partnership with Dutch Seatrade for a new reefer service employing 13 vessels, starting this October, informs the French container carrier.

Maersk Line's schedule reliability plunged big-time in Q1

Container:

All of the Top 18 container carriers' schedule reliability dropped in the first quarter 2017. Maersk Line toppled 8th place while alliance partner MSC noted the biggest setback.

Hyundai Merchant has scaled back after 2M arrangement

Container:

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.

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Port of Gothenburg labor conflict required constant communication

magnuskårestedt.jpg Ports:

CEO of the Port of Gothenburg, Magnus Kårestedt, has spent much of his time in the last 18 months handling the port's labor conflict between APM Terminals and the dockworkers. "Many don't understand the core of the conflict," he says in the latest article in ShippingWatch's series on communication.

It has been a bit more fun to be a dry bulk carrier in 2017

Bulk:

Rates have generally been higher in 2017, a year projected by many to be a year of beginning recovery – but a decline since the boom in the spring has curbed the budding optimism. And this could be a good thing, says J.P. Morgan.

Svitzer awarded 15-year contract in Bangladesh

Carriers:

Maersk's towage unit has won a contract to service the first floating LNG terminal in Bangladesh. The contract supports the company's ambitions to grow in the oil and gas sector.

BP weighs divestment of oil fields in the North Sea

Offshore:

According to internal sources, BP has contacted potential buyers for its oil and gas fields in the North Sea, reports the Wall Street Journal. Asset managers are allegedly in the picture.

Keppel Marine & Offshore suffers half-year deficit

Suppliers:

Keppel's marine business, which covers several yards specializing in offshore, suffered a deficit in the first six months of the year, compared to a profit of USD 177 million in the same period last year. The offshore sector drags the business down.

Port of Rotterdam wants more state support

Ports:

Rotterdam's port booked a positive first half of the year with rising freight volumes. But if this development is to continue, the Dutch state must show more support, like in neighboring countries such as Germany, the port urges.

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