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Seago Line plagued by rate pressure from major carriers

Container:

The Maersk-owned container carrier on European services was close to a halving of its result last year. The CEO attributes this development to increasing competition from other feeder carriers as well as from global carriers.


BY OLE ANDERSEN
Published 04.04.17 at 09:55

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Top analyst shoots down container carrier optimism

CMACGMMARCOPOLO.jpg Container:

Alphaliner's chief analyst, Tan Hua Joo, is one of only a few external experts who has been asked by the container sector's secretive Box Club about his view of the future. He now warns the carriers of a worrisome development.

Alphaliner: Growing uncertainty about Yang Ming's financial state

Container:

Even though Taiwan's Yang Ming has tried to calm the market, insufficient information from the carrier only leads to increasing uncertainty, notes Alphaliner.

Alang is still the world's preferred ship graveyard

Container:

196 commercial vessels were scrapped in the first quarter of 2017, reports NGO Shipbreaking Platform. Of these, 128 vessels wound up on the beaches in India, Bangladesh, and Pakistan.

Rickmers Maritime Trust sells entire fleet to Navios

Container:

Rickmers Maritime Trust is selling its entire fleet of container vessels to a Greek carrier. The sale comes one week after the Singapore-based company announced that it was giving up after battling to survive for months, and would close down.

First 20,000 teu container ship hits the water

Container:

The world's first container ship with a capacity of a little over 20,000 teu has hit the water. The ship belongs to Japan's Mitsui OSK Lines, which could lose the record already this year.

Asia-Europe rates at most stable level in five years

Container:

Rates between Asia and Europe have for the past eight weeks hovered at the most stable level for the benchmark container routes in five years, writes analyst Lars Jensen of Seaintelligence Consulting.

Current front page

EU preparing restrictions on maritime subsidies

MT Amalienborg 3x5.jpg Carriers:

Several EU nations are currently subject to comprehensive reviews of their subsidies to carriers and maritime businesses. The EU Commission is preparing a more restrictive practice, ShippingWatch is told.

"The era of privately owned carriers is coming to an end"

Carriers:

That was one of the arguments cited when Hafnia Tankers CEO Mikael Skov and CEO of Teekay Corporation, Kenneth Hvid, participated in a debate in which they had to convince representatives from family-owned carriers that they belong to the past.

Fredriksen makes new attempt to buy DHT

Tanker:

John Fredriksen's Frontline has sent a new offer to DHT in which the company proposes a merger of Frontline and DHT. "We are convinced that the proposed new combination of Frontline and DHT will maximize value for both sets of shareholders," writes Frontline. DHT Holdings describes the new bid as "unimproved."

Singapore cements its position as leading maritime hub

Carriers:

A new report from Norway's Menon Economics, published Wednesday in Singapore, cements Singapore's status as the world's number one maritime hub. The analysis names Hamburg, Oslo, Rotterdam, London, and Copenhagen as the five key European maritime capitals.

Euronav projects challenging 2017

Tanker:

Lower revenue and earnings for Euronav in the first quarter this year, and the carrier stresses that 2017 as a whole could be challenging for the tanker market.

Danish tax authority: OW Bunker abused tax legislation

Services:

Equity fund Altor blurred the cash trail when it via Deloitte took DKK 1.2 billion out of Denmark. Now the Danish Customs and Tax Administration wants repayment of DKK 140 million, reports Danish media DR.

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