A number of organizations have sent a letter to EU Commission President Ursula von der Leyen, criticizing the EU for approving the Block Exemption Regulation for the container industry. They hold that the scheme should only be extended by one year.
Maersk has now received a response from local authorities in China after several seafarers last week were isolated on ship Gjertrud Maersk with symptoms of covid-19. The results show cases of coronavirus infections, the company tells ShippingWatch.
Just as China seems to be emerging from the coronavirus, Europe and USA are entering times of unprecedented uncertainty. ONE's CEO Jeremy Nixon gives his insights on how to lead a huge container carrier during a state of emergency.
Sliding demand forces container alliance 2M, which consists of Maersk Line and MSC, to void more than one fifth of its voyages between Asia and Europe as well as Asia and the Mediterranean in the second quarter of 2020, reports Sea-Intelligence.
Several seafarers aboard vessel Gjertrud Maersk are suspected of coronavirus infection. On Thursday, they were evacuated to receive treatment in Chinese city Ningbo. Maersk awaits report from authorities.
French container line CMA CGM has carried out the first part of the refinancing plan the carrier announced in November. It demonstrates the group's resilience, says Chair and CEO Rodolphe Saadé.
Maersk informs its customers in a letter that freight volumes will decline in the coming weeks, and that the shipping line is preparing for its network "to match reduced demand." Sailings between Asia and Europe have been canceled.
South Korea's HMM injects USD 25 million into a fund under The Alliance, which functions as an emergency measure in case cargo gets stuck in a bankruptcy, as happened with Hanjin's collapse years ago.
Japanese MOL, one of three shipping companies behind liner group ONE, warns about an extraordinary loss in its annual financial report totaling USD 146 million. This stems from a deal with ONE as well as loan to Norwegian Gearbulk.
Container shipping company PIL is in negotiations with its own subsidiary Singamas, which has several outstanding receivables. PIL confirms being in negotiations with Singamas to reach an agreement. Meanwhile, PIL activates precautionary measures in response to the corona pandemic.
Container shipping line Zim, which collaborates with Maersk and MSC in the 2M alliance, books a profit for the fourth quarter despite a decline on the bottom line. 2020 looks uncertain due to trade restrictions and coronavirus.
It creates challenges on the roads and railroads when one of the ultra-large container ships berths in the Port of Hamburg. "We really hope that the limit has been reached," a director of the port's largest terminal company tells ShippingWatch.
A.P. Moeller-Maersk Chairman Jim Hagemann Snabe defends his remuneration of USD 1 million per year. "The pay hasn't changed significantly in the past 13 years," he says.
The coronavirus outbreak generates major uncertainty on developments in the transport and logistics sector this year, OOCL writes in a statement on its financial report.
Pirates have allegedly kidnapped seven crew members from container vessel MSC Talia off West African country Gabon, informs security firm Dryad Global.
The low oil price could cause shipping companies to postpone scrubber installations, thereby increasing the capacity of the global fleet at a time when the global pandemic is expected to lower demand significantly, assesses Sea-Intelligence.
A month ago Hapag-Lloyd said it was planning to order six new ultra-large container ships. Now these plans are up in the air as the world is hit by coronavirus, CEO Rolf Habben Jansen tells ShippingWatch.
Hapag-Lloyd has hired a new executive to head its reefer business, which plays a crucial role in the liner company's growth plans. She switches from Cargosphere and has worked at places such as UASC and Maersk Line.
Like several other shipping majors, Maersk now suspends its guidance for 2020 due to the coronavirus outbreak.
As the first major container line, Hapag-Lloyd downgrades its earnings forecast for 2020 as a direct consequence of the corona outbreak. "2020 will be a very unusual year," says CEO Rolf Habben Jansen.
Maersk has nominated a former executive of bank JPMorgan Chase as a new board member. The 50-year-old Brit is partner at a fintech-focused private equity firm.
A delayed scrubber installation, caused by the coronavirus, was the reason that a ship was carrying high-sulfur fuel on board in breach of the new regulations, says MSC.
Coronavirus and its impact on the container industry spell bad news for CMA CGM in its attempts to raise liquidity and lower its debt, Moody's tells ShippingWatch. Overall 2020 global GDP growth could be revised down to 1.4 percent.
The advantage of scrubbers is diminishing dramatically these days due to extended delays. MSC in particular has been impacted by the situation, with more than 20 vessels delayed by over 100 days. Repayment has also increased markedly, writes Alphaliner.
Container line MSC is accused by the United Arab Emirates of illegally carrying heavy diesel on board one of its ships that is only allowed to sail on low-sulfur fuel. MSC argues that the oil was to be used for a test. Updated with MSC comment
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