Shipping organization Bimco expects low growth in transported containers for the rest of 2019. This will worsen the balance and paint a "disturbing picture" for the industry this year and the next.
Samskip's protests against Eimskip and Royal Arctic Line's transatlantic partnership have now been rejected by the Icelandic Board of Appeal. However, the starting date for the joint service operation is postponed once again.
Video footage emerged Monday showing the hours ahead of two Maersk ships sinking while under tow. Maersk stakeholder KLP also expressed concern about the shipping company's shipbreaking partners in India after a yard worker died.
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 group behind French container line CMA CGM has found new deputy CFO. He also becomes CFO of acquired Ceva Logistics.
Taiwanese container line Evergreen confirms its order of ten new mega vessels at 23,000 teu each. The order will be split between three yards in South Korea and China.
The 2M alliance suspends its so-called AE-2 string, also known as Swan, due to seasonally lower freight volumes out of Asia.
A worker has died in an explosion at the Shree Ram shipbreaking yard in Alang, India, with which Maersk has a close partnership. The accident happened last week. Maersk tells ShippingWatch that there were no Maersk ships being scrapped when the accident happened.
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.
Navigare Capital Partners adds two new container vessels to its shipping fund using capital from several Danish pension funds. The company, whose main owner is Robert Mærsk Uggla, is currently establishing a new fund.
French container line CMA CGM increased its volumes in the second quarter. According to Lars Jensen, CEO at Seaintelligence Consulting, this signals that the company, unlike the competitors, has chosen to pursue a path entailing a market share hunt. But this strategy comes at a cost, he says.
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.
With the acquisition of three ships, Clipper Group CEO Peter Norborg now deems the company is "through the worst", he told ShippingWatch. Read about the tensions between Iran and the US, optimistic drilling analysts and 2020 preparations.
The trade war between the US and China has cut 0.8 percentage points off global growth, assesses the US Federal Reserve.
While increasingly larger container vessels have entered the main tradelane between Asia and Europe, opposite developments have applied to the number of services. And this will continue for the next couple of years, according to Sea-Intelligence.
A large-scale re-branding of A.P. Møller-Maersk's container business is almost complete, writes Alphaliner. As part of the plan, the name on the side of the group's container ships has changed.
A former APL CEO will lead the sale of CMA CGM's terminal assets, writes Alphaliner. The sale is aimed at relieving the large debt accrued from acquiring Ceva, and, according to Bloomberg, China Merchants seems to be the favorite among potential buyers.
Although Eimskip and Royal Arctic Line's partnership has been met with complaints by Samskip, the collaboration is still expected to take off this year, the Greenlandic shipping line asserts in its half-year interim report, which shows a deficit.
After production of reefer containers took a dive in 2016 due to cost-cutting at several shipping companies, it grew both during 2017 and 2018. And the coming five years will also see growth, Drewry assesses.
Norway's sovereign wealth fund has contacted Maersk as part of its critical zoom-in on beaching in Alang, Maersk confirms to ShippingWatch. The fund has previously blacklisted four shipping companies due to their scrapping activities in South Asia.
Without political action, container line Maersk risks burning its fingers on its ambitious climate plan, according to head of sustainability strategy. The climate issue is also at the top of investor agendas.
So far, fuels with low sulfur contents are 30 percent more expensive than conventional fuels, according to data compiled by Drewry. Though much can change once the calendar shows 2020, the consultancy writes.
China Merchants Group is negotiating the purchase of CMA CGM port assets, as the Chinese state-owned company pursues a global diversification strategy and aim to increase capacity, informed sources say.
Experienced Bunker Trader - Dubai
TECHNICAL DIRECTOR to Celsius Shipping
Freight Trader - COLI Bulk Carriers GmbH
Vessel Performance Manager
Manager for Technical Services
Lauritzen Bulkers seeks Head of Global Operations
