ZIM boosted by rising container rates
Container freight rates have surged, and this has helped increase revenue at Israeli container line ZIM, though transported volumes have decreased.
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Container freight rates have surged, and this has helped increase revenue at Israeli container line ZIM, though transported volumes have decreased.
A weaker growth in the first quarter combined with the escalating trade dispute between the US and China makes Alphaliner lower its expectations for growth in container shipping.
Maersk is expected to report an improved but far from spectacular result when the company publishes its interim report Friday, note several analysts, pointing to an uncertain future for the container shipping sector overall.
Consultancy firm McKinsey & Company has presented two scenarios for the container industry's evolution toward 2050. The outcomes are very different, and developments in India are a common key factor.
"It's not a 1:1 relationship between us and the shipping lines," says the European Shippers' Council, noting that the concentration among liner companies has only tilted the balance even further. Now the shippers hope that the EU can force changes through.
As expected, the closing of a factory in Chile has been costly, shows the annual report from MCI's Danish affiliate. It was the new CEO Sean Fitzgerald who closed the factory shortly after his arrival in 2018.
The key tradelanes between China and the US could be hit by significant decreases if both countries act on their threats of new and large-scale tariffs. Alphaliner estimates that volumes could drop by eight percent in 2019.
As the world's fifth-largest shipping line, Hapag-Lloyd itself participated in the consolidation wave that has characterized the sector in recent years. But the sector forgot the customers in its unilateral focus on cutting costs and achieving synergies, says the company's COO.
The container sector's new association aimed at creating industry standards is now backed by another five shipping lines. The new names include CMA CGM, which was also part of the initial discussions.
After buying 69 ships in two years, MPC will now instead spend its money on a buyback program. A drop in prices means that this is better use of capital, the chief executive tells ShippingWatch.
New VP charged with doubling core area within ocean freight business in Ceva as part of new owner CMA CGM's strategy. He has until the end of 2021 to reach the target, he tells ShippingWatch in an interview.
China is considering delaying a trip by its top trade negotiators to Washington this week, according to people familiar with the matter, after US President Donald Trump threatened the country with steeper tariffs over the pace of trade talks.
Shipowner Seaspan reports significant growth in earnings as well as revenue. And the company has also appointed a former Maersk man as new VP to its senior management team.
Some four months into 2019, there have been scrapped as many containers as in all of last year, shows the latest report from shipbroker Braemar ACM. Measured in teu, 2018 has already been surpassed.
If shippers play their cards right, they can benefit from significant differences in how sensitive the major liner companies' bunker adjustment factors are to oil price fluctuations, notes Seaintelligence.
Japanese container venture ONE has published its annual report and set figures on its expectations for the coming year. CEO Jeremy Nixon has also presented an action plan to streamline the organization.
Maersk COO Søren Toft looks with concern at the latest numbers for container growth so far in 2019, he says in an interview with ShippingWatch. ONE Chief Executive Jeremy Nixon expects growth in the global economy of as little as 2.5 percent.
More container ships will be taken out of service in the last months of the year to have scrubbers installed. Upwards of 30 ships are expected to be removed from the global fleet every month, writes Alphaliner.
HMM's new chief executive will this week visit Maersk in Copenhagen as well as MSC in Geneva "to consolidate the relationship" with the 2M alliance. HMM's agreement with the container alliance expires in April 2020.
As CEO of the liner sector's new association, Thomas Bagge will try to gather the world's biggest shipping lines to set out joint standards for the sector. He wants more shipping companies on board.
The number of unemployed container ships has gone down in recent weeks, reports Alphaliner. Scrubber installations factor in.
More typhoons and hurricanes at sea, and floods that undermine ports and railroads, have become a risk factor for shipping. One of the container sector's leading figures, ONE Chief Executive Jeremy Nixon, warns against the development, which can paralyze shipping for days or weeks.
Customers' satisfaction with liner companies' services deteriorated marginally in 2018, according to a study conducted by the shippers and Drewry. Two issues in particular occupy the shippers.
Employees at the largest liner companies have become more satisfied during the year, shows a study. More than half would recommend their workplace to a friend.
Numbers for container volumes in the first two months of 2019, just published, are surprisingly negative. According to the CEO of Seaintelligence Consulting, Lars Jensen, the numbers are a serious cause for concern for the full year.
Shipping Employee in Skagen - Saga Shipping
Technical Superintendent(s) - Dania Ship Management
