By the end of last week, Maersk had 84 ships that had on average been idling for 18 days outside the world's ports, says Chairman of the Board Jim Hagemann Snabe in an interview with CNBC.
Container carriers lament their poor service and explain their mega rates by referring to the demand prompted by the Covid-19 pandemic. However, the chairman of analyst firm MDS Transmodal says this explanation doesn't necessarily hold water.
Spearheading the green transition in a company sitting at the top of its segment was a considerable reason why Lasse Kristoffersen was tempted to join Wallenius Wilhelmsen, he recounts in an interview with ShippingWatch. This is in no way puzzling to those who know him.
Clothing and furniture companies are moving their production increasingly closer to the West, which could provide major benefits to DFDS and not so much to Maersk.
Container line CMA CGM will give a rebate to US importers who pick up their containers quickly at the terminals in Long Beach and Los Angeles in order to ease bottlenecks. The incentive program will provide up to USD 200 per container.
Just a year after announcing the Sea Cargo Charter, co-founder Ørsted has decided to back out of the initiative. "Not the right forum for us," the company explains but denies that too low climate ambitions are to blame. Chair of the charter has expressed openness to raising the level of ambition.
CEO of Torvald Klaveness and Vice Chair of ICS Lasse Kristoffersen will be the new CEO for car carrier Wallenius Wilhelmsen. Updated.
CONTAINER FEVER: Large container shipping lines are raking in money like never before, but the volumes of containers have barely changed since last year. Bottlenecks and delays keep volumes in check, although next year's financials will be "wild" as well.
Irish Ferries has bought another passenger and cargo ferry set to sail on the Dover-Calais route in the English Channel. This will be the third ferry deployed by the Irish operator on this route, in competition with DFDS and P&O Ferries.
Concerns that a new Covid-19 variant discovered in South Africa could spread have Asian stocks and US equity futures on the decline, with crude prices dropping as well. WHO expects it will take weeks to shed light on the new variant. Updated.
Esbern Snare's operation marks the first time an international navy vessel kills suspected pirates in the Gulf of Guinea. ShippingWatch has spoken to Dryad Global and Johannes Kidmose, head of the Centre for Maritime Operations under the Royal Danish Defence College, about the fallout.
The congestion issues in the container market will abate slightly, according to Maersk. The pressure is expected to continue until the Chinese New Year in the beginning of February.
CONTAINER FEVER: All of the world's largest container lines raked in a lot of money in a third quarter marked by a chaotic freight market. But one aspect separates Asian carriers from their European counterparts when it comes to generating profits, according to analyst. ShippingWatch takes stock of a frantic quarter.
Frigate Esbern Snare, deployed in the Gulf of Guinea, has shot five suspected pirates, four of which are dead, according to the Danish military. No Danish nationals were injured.
Some container ships have an easier time getting in and unloading goods on the US west coast than others. Ownership of terminals is especially providing carriers with an edge, writes Alphaliner. One alliance in particular benefits from this advantage.
French container line CMA CGM has put in an order for ten ice-class newbuilds at South Korea's Hyundai Mipo Dockyard, according to several media. The vessels of 2,000 teu are expected to be delivered in 2024.
Dry bulk operator J. Lauritzen and Singapore-based Bibby Transport are liable to pay damages for the cargo and legal costs related to a dramatic accident in 2017. J. Lauritzen accepts the ruling.
Wind service operator Ziton raises revenue for the third quarter but lowers its full-year guidance. The company could still be up for sale.
It became significantly harder to keep track of the number of ships in Chinese waters during November. The Financial Times reports the country has blocked a large number of signals from automatic identification systems.
Based on asset value, Japan is no longer the world's biggest shipping nation, having been dethroned following a surge in the value of container vessels, according to an overview released by VesselsValue.
With the acquisition of former Scorpio Bulkers vessels in early 2021, CEO Gary Vogel is able to reap all the benefits from the booming market. ShippingWatch has interviewed Vogel on how to take advantage and stay calm during a historic upturn.
China United Lines has appointed Lars Solbø Christiansen as co-CEO. The carrier recently soared on the list of the world's 100 largest container lines, and Christiansen's tasks will include handling further internationalization.
Tanker operator Frontline has sold four tankers to shipping magnate John Fredriksen's shipowner, SFL Corp. The Fredriksen-controlled carrier thereby increases its liquidity for forthcoming newbuilds, analyst says.
Logistics firm Kuehne + Nagel has found its next chief executive among its own ranks, who will take over next year when the Swiss company's current CEO Detlef Trefzger is set to step down.
CONTAINER FEVER: There are no signs that the container market will slow down in 2022, which is expected to offer more of the same for money-spinning container lines and ailing shippers. But what should you keep an eye out for in the coming year? ShippingWatch provides an overview.
Senior Charterer 
Sales Director 
Claims Executive, Skuld Copenhagen 
Software Project Lead 
Head of Operations for B-Gas A/S in Copenhagen