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German Hapag-Lloyd now wants to sell freight insurance to its customers with a new online service especially targeted at small and mid-sized shippers. The container line thus follows Maersk, which launched a similar product last year.
The 2M alliance suspends its so-called AE-2 string, also known as Swan, due to seasonally lower freight volumes out of Asia.
Profit margins at nine of the world's largest container lines have been boosted by new accounting standard. However, this have also entailed rising debts, Alphaliner writes.
A slowing Icelandic economy meant that shipping company Eimskip under-performed in the year's second quarter. The company maintains its guidance for 2019.
Growth in global demand doubled in July but was not enough to boost freight rates, writes Sea-Intelligence.
CMA CGM Group boosted revenue and increased container volumes in the second quarter "despite an uncertain worldwide geopolitical environment," writes the company. The bottom line, however, drops significantly compared to last year, landing in the red.
The head of Marine HR at Maersk, Niels Bruus, is preparing to "turn over every stone" to make the company's crew-related costs competitive, reports maritime media Søfart. Maersk rejects that this is an initiative aimed solely at lowering wages.
Israeli container line ZIM increased its revenue in the second quarter and reported a positive bottom line. This development is attributed to, among other factors, the company's cooperation with Maersk and MSC's 2M Alliance, according to CEO.
2019 was supposed to be the year in which shipping investors would finally profit from a low supply of vessels, new environmental regulations and economic growth. So far, things have not at all gone according to that plan. ShippingWatch takes a look at some of the benchmark shipping shares.
Container vessel MSC Gülsün, the largest in the world, has arrived in Europe upon completion of its maiden voyage from China.
Recent years' extensive consolidation among major container liner companies has created the most stable rate environment in the global container industry ever seen, according to Sea-Intelligence.
The Alliance member Yang Ming saw signs of a strained container market in the first half of the year, which was partly characterized by overcapacity. "The market demand is weaker than expected," notes the container shipping company.
The world's largest container liner company Maersk delivers an improved operating profit and underlying result in the second quarter. The group's core Ocean business unit was the main growth driver.
The shipping industry wastes billions of dollars every year by lying at anchor waiting to enter filled ports – because the ships might as well have sailed slower and saved fuel by timing their arrival with the port – says partner at MarineTraffic.
South Korean liner major HMM grew its revenue significantly in the second quarter, though trade tensions, Middle East unrest and a looming Brexit continues to strain the company, which is still losing money. However, the switch from 2M to The Alliance is expected to bring gains.
At this moment, 23 container ships are at yards having scrubbers installed, and 17 of these have a capacity exceeding 7,500 teu. According to Alphaliner, this number will increase in the months to come as the IMO sulfur regulations move closer.
Confidence in revenue growth among CEOs in the transport and logistics sector reached its lowest level in five years, according to a survey by PwC among the industry's top executives. One reason is the digital development.
After fighting and costing each other large deficits, 2019 is becoming the first year in which the broad section of the container shipping industry is showing financial brute strength. Even in the face of global trade conflicts. Maersk's half-year report is expected to reflect a new stage.
One country is home to more than half of the 20 container ports around the world highlighted by the UN's annual index as the best-connected – a crucial cost parameter. Find the list here.
The UK has made a large heroin discovery on board a container ship that was headed to Belgium. This comes just a week after German customs authorities announced they had found cocaine on a ship headed in the same direction.
Alphaliner has long been confident that the container market would grow by 3.5 percent in 2019, but the firm now downgrades this forecast due to the ongoing trade conflict. US President Donald Trump's latest announcement of more tariffs do not factor into the latest estimate.
Liner company Hapag-Lloyd exits the first half of the year with a higher revenue and operating result compared to the same period the year before. "A good first half year," says management.
If China ends import of US-made agricultural goods, it would be a big blow to the container sector and US importers, says Lars Jensen, CEO of Sea-Intelligence Consulting, in a comment.
Greek Danaos grew its profit in the second quarter, when, according to the company's CEO, the charter market for large ships was "strong." The container tonnage owner hopes to be able to profit from the IMO's sulfur regulations and the current trade war between the US and China.
Container liner companies have experienced a significant improvement in schedule reliability in 2019 so far. But looking back a few years, the scenario differs widely between the various major tradelanes, according to numbers from Sea-Intelligence.
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