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ShippingWatchWednesday22 March 2023

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Photo: Katinka Hustad/Ritzau Scanpix

Maersk has called off the most voyages after drop in demand

A.P. Moller-Maersk tops the lits of carriers that have pulled vessels off of shipping routes as a reaction to the declining market.
  • Methanol could become the preferred fuel for new vessels already in 2023
  • Mærsk family's holding company acquires Maersk Supply Service
Foto: Computerfremstillet illustration.

Maersk reveals design of its new sustainable vessel

Carriers need to diminish their pollution in the coming years. As such, they are searching for a fuel to replace regular bunker oil. | Foto: Christian Charisius/AP/Ritzau Scanpix

Methanol could become the preferred fuel for new vessels already in 2023

For subscribers

Foto: Gregers Tycho

Maersk chair had nothing to do with carrier divestment due to double role

For subscribers

Foto: Jon Nazca/Reuters/Ritzau Scanpix

OECD: Questionable whether state support for shipping benefits society

For subscribers

Foto: HHM/Michael Lidner

Supply of boxes back to levels supporting shippers on less busy routes

For subscribers

  • Foto: Pr / Pexels

    Employees of Evergreen receive up to five years' pay in bonuses

    The carrier has already once before given bonuses of up to 50 times the monthly salary to select employees.

    For subscribers

  • Foto: Pr / Cosco Shipping

    Freight rates out of China increase after nine-week-long plummet

    The leading Shanghai Containerized Freight Index increased this week after nine weeks of falling.

    For subscribers

  • Foto: Maersk Container Industry/pr

    Maersk to share millions of reefer data with customers and partners

    Customers with perishable goods will be able to follow e.g. temperature and humidity data from reefers via an updated IT solution.

    For subscribers

  • Foto: Magnus Møller

    Opinion: Carriers are in the midst of a downturn – and their different reactions provide a strong indication of the future

    There are big differences as to how container carriers have tried to get through the collapse in freight prices in late 2022, writes Lars Jensen.
  • Foto: Yasuaki Kobayashi/AP/Ritzau Scanpix

    Wan Hai to pay fine in USA for pandemic fees

    The shipping company has reached a settlement with the US Federal Marine Commission in a case of customer complaints due to extra fees in 2021.

    For subscribers

  • Foto: Jonas Walzberg/ap/ritzau Scanpix

    MSC's container capacity is half a million above Maersk's

    About a year after MSC narrowly usurped Maersk’s throne as the world’s largest box carrier, the Swiss-Italian company gains even more ground on its Danish 2M Alliance partner. 

    For subscribers

  • Foto: Michael Macor/AP/Ritzau Scanpix

    Analysts: There is risk of prolonged downturn for carriers

    Freight rates have returned to levels found prior to pandemic. Even though the worst decreases have been curbed, there is risk of a long-term downturn, analysts warn.

    For subscribers

  • Foto: Amr Abdallah Dalsh/Reuters/Ritzau Scanpix

    Evergreen increased profits by 40 percent

    Taiwan-based Evergreen saw its bottom line increase markedly in 2022 in comparison to 2021, but profit propulsion ended in Q4.

    For subscribers

  • Foto: Yves Herman/Reuters/Ritzau Scanpix

    Maersk and MSC discontinue service offer on main route

    The route is part of the 2M Alliance and has been suspended since December, as demand on freight had been declining for some time.

    For subscribers

  • The new ships will be equipped with a special cover to reduce windage. | Foto: Ocean Network Express

    ONE orders ten vessels capable of sailing on green fuels

    Another shipping company has increased its orders of vessels capable of sailing on methanol and ammonia.

    For subscribers

  • Foto: Michael Macor/AP/Ritzau Scanpix

    CMA CGM becomes co-owner of French ferry company

    The box carrier is exchanging a loan of EUR 25m for an increased shareholding in the French ferry company Brittany Ferries.

    For subscribers

  • Martin Jermiin is CEO of Flying Tiger. | Foto: Gregers Tycho

    DSV hit by massive claim from retail chain in Denmark

    Flying Tiger Copenhagen is now revealing the size of its claim against DSV in a court case that emerged during the pandemic’s logistics chaos.

    For subscribers

  • Foto: Darren Staples/AFP/Ritzau Scanpix

    Retail giants launch new alliance for green sea freight

    During 2023, companies like Amazon and Patagonia will search for solutions to how their goods could be transported without emitting greenhouse gasses from 2025 or 2026.

    For subscribers

  • Foto: Yangzijiang Shipbuilding

    World's largest box ship heading for Europe on maiden voyage

    MSC will take the title of owner of the world’s largest box ship with MSC Irina and its capacity of 24,346 teu.

    For subscribers

  • Foto: Christian Charisius/reuters/ritzau Scanpix

    Zim expects earnings to plummet in 2023

    Israeli box carrier Zim saw decreased earnings in 2022 when compared to 2021. This year, the earnings are likewise expected to drop significantly.

    For subscribers

  • Otto Schacht is executive vice president sea logistics, Kuehne + Nagel. | Foto: PR / K+N

    Companies predict new trade patterns and increased global uncertainty

    Africa will have an important role in globalization in coming years, predict the chief executives from Kuehne +Nagel, Hapag-Lloyd and BASF.

    For subscribers

  • Maersk opens first freight route to Ukraine since war began

    Maersk-subsidiary Sealand will send a weekly vessel to the Ukrainian port city of Reni.

    For subscribers

  • Foto: Xu Congjun/ap/ritzau Scanpix

    Asia was alone in reestablishing box freight after Covid

    Asia was the primary factor in recovering box freighting after Covid, and as demand for shipping freight out of Asia is now declining, making for a total market collapse, Sea-Intelligence estimates.

    For subscribers

  • Henrik Ramskov is managing partner at Navigare Capital Partners | Foto: Navigare Capital Partners

    Navigare Capital Partners sells container vessel to German company

    The investment firm, which manages assets for multiple Danish pensions funds, purchased the ship in 2017.

    For subscribers

  • NYK er en af tre ejere af det japanske rederi ONE, hvis skibe har en karakteristisk pink farve. | Foto: Jonas Walzberg/AP/Ritzau Scanpix

    Japanese shipping group aims to expand in containers and logistics

    In a new strategy, owner of shipping company ONE maintains that the group will pursue growth in developing nations as demand for transportation of goods increase. Consolidation is part of the plan.

    For subscribers

Latest news

  • New chemical carrier goes public with seven tanker vessels – 13:28
  • Shipping could become one of the first victims in armed conflict over Taiwan – 13:15
  • Maersk has called off the most voyages after drop in demand – 12:18
  • Stolt Tankers acquires new ships for Caribbean routes – 10:39
  • Maersk reveals design of its new sustainable vessel – 10:00
  • Key actors in shipping to help developing countries with green transitioning – 21 Mar
  • West Coast dockworker labor talks strained over lunch-break spat – 21 Mar
  • Sale of South Korean shipyard approved by Vietnam – 21 Mar
  • Bulk operators are optimistic: "All trends are positive in China right now" – 21 Mar
  • Methanol could become the preferred fuel for new vessels already in 2023 – 21 Mar
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