Container rates declined over the week
Container freight rates have fluctuated in recent weeks, and this past week has seen a jump backwards.
ShippingWatch
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Container freight rates have fluctuated in recent weeks, and this past week has seen a jump backwards.
Development of digital solutions in the shipping industry has accelerated in recent years. However, two crucial factors continue to stand in the way and may hold digitization back despite large investments, according to the World Economic Forum.
The rest of the year will present challenges for the container market, but there are big differences in how different vessel sizes perform. In a new analysis, Alphaliner talks of a two-tier market.
MSC pays a USD 50 million bond to release the vessel MSC Gayane. The vessel has been idled in the US for nearly a month due to a large cocaine discovery.
Cosco, the world's third-largest container liner, is considering joining the Digital Container Shipping Association, which was founded by Maersk, among others. The alliance is working to create common standards for the industry.
German bank Berenberg is confident that Maersk's second quarter financials will be improved by higher freight rates and lower fuel expenses. Maersk's interim report will be published next month.
Three of the world's biggest liner companies, along with a number of terminal operators, officially commit to Tradelens competitor GSBN. The collaboration is expected to take off next year.
Sea-Intelligence estimates that 2M is set to lose 7 port pairs between Asia and the US West Coast when HMM leaves to join competitor THE Alliance next year.
In an unusual post on LinkedIn, Søren Skou writes that the first step in Maersk's historic transformation has now been completed. "I strongly believe that we now have the building blocks we need to succeed," he writes.
Blue Water will never be sold, asserted founder Kurt Skov to ShippingWatch. The detainment of vessel Grace 1 (photo), OW Bunker and a fine for Total also drew headlines this week.
Container index SCFI increased again after sliding last week. The increase happens despite a setback on routes between the Far East and Europe.
Samskip has found a permanent replacement for Jens Holger Nielsen. The new CEO is a 52-year-old Finn who is former chief executive of shipping company Containerships and has an active career as a race car driver.
The Danish merchant fleet continues its growth spurt and now overtakes the US, becoming the fifth-largest shipping nation in the world measured in operated tonnage. A fourth place seems unlikely in the near future.
With the exception of a few containers, all cargoes from the seized MSC Gayane are now on their way to their respective destinations, informs MSC. The vessel is currently berthed in the US following a major cocaine bust.
Alphaliner has put together a list of the world's largest container ships. MSC Gülsün, which was delivered from its yard in South Korea this week, tops the list, while ships from OOCL and Maersk clock in behind it.
Container ship MSC Gayane must remain in the US indefinitely. US authorities have seized the ship after close to 20 tons cocaine were discovered on board. Customs director has warning for shipping companies.
Tradelens CEO Mike White sees it as unlikely that there will be only one platform for the industry overall after the Maersk venture has now gathered a majority of the container market. He opens the door to alternative methods to get the remaining players on board.
German shipowner MPC Container Ships gets approval on financing for scrubber retrofits on five of its vessels. The majority of the financing comes from the insurance premium on a grounded vessel.
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The consultancy firm adjusts its expectations for container market growth in 2019 on the basis of growing uncertainty about world trade due to factors like the US-China trade conflict and the upcoming sulfur regulations.
Container rates drop 2.3 percent compared to last week. The development is slightly less negative on the Asia-Europe routes.
Maersk, Hapag-Lloyd and MSC introduce a customer surcharge following the attacks on two oil tankers in the Strait of Hormuz.
2M strengthens its collaboration with Israeli liner company ZIM, which adds two new services and 20 container vessels to their partnership. The news come the same week as HMM's exit from 2M.
Although the number of idle ships in the container industry is down, the outlook remains weak and uncertain, assesses Alphaliner.
Hapag-Lloyd continues to strengthen its position within the reefer segment with a new order for 13,000 reefer containers. They are slated for delivery in November 2019, informs the German container liner.
Danish Jan Christensen, managing director at Bomin, will become new bunker chief at major German liner company Hapag-Lloyd from Aug. 1. Christensen also has history with Maersk and OW Bunker.
Legal Counsel for International Shipping Company - J. Lauritzen
Marine Superintendent - UltraShip
Contract Manager for fuel purchase - Hofor
