Even though the coronavirus crisis has had a significant impact on the container sector, Maersk could deliver a stronger operating profit in 2020 compared to last year, projects Clarksons Platou.
Feeder shipping line MPC Container Ships should withdraw its proposal for a refinancing plan, says one of the shipping company's bondholders, which says the current proposal favors shareholders, reports Norwegian media.
There has been little news on Søren Toft since he, garnering much attention from the international shipping world, quit his job as COO at Maersk to become CEO of MSC. Toft is now ready to name a date for when he will start his new job in Geneva.
According to Alphaliner, Singapore plans to help container line PIL with more than USD 400 million. The Teo family could ultimately lose its ownership control of the company, notes the analyst firm.
New Chinese legislation causes several container shipping lines to halt waste shipments to the country. Hapag-Lloyd is just the latest company to join that list, writes Reuters.
Container shipping companies blank even more sailings in the third quarter. Container carriers particularly pull capacity from the North Atlantic routes, which, according to Sea-Intelligence, indicates that the economy has yet to see a structural improvement.
A.P. Møller-Maersk appoints a new regional managing director of Asia Pacific, who comes from logistics company DB Schenker. He replaces the current regional managing director, who will take over Maersk's office in Latin America.
A Dutch authority recommends implementing restrictions on routes near an archipelago in the North Sea, where vessel MSC Zoe lost 342 containers to the sea last year.
Depletion of the oil stockpiles is going much faster than Clarksons Platou anticipated. The shipbroker has cut its rate estimates in half for the biggest tanker vessels for the rest of the year.
Costamare, which owns a large fleet of containers, has just settled new credit facilities. The company has now landed debt transactions for more than USD 435 million and has pushed larger installments into the future.
11 of the world's largest container shipping lines have reduced their fleet in the first half of the year, in which the coronavirus crisis has played a major part and has reduced demand, writes Alphaliner. Only one player has increased its capacity.
Maersk chairman Jim Hagemann Snabe holds "an excessive number of mandates" as he also serves on the boards of other companies, says shareholder Blackrock, according to business daily Børsen.
Upwards of 35 percent of the seafarers currently deployed on Maersk's ships have been at sea for longer than required by their contracts, the shipping line tells CNN. This is because of the coronavirus crisis, which has made it difficult to change crews around the world.
Container carriers such as Maersk, Hapag-Lloyd and CMA CGM have managed and operated their fleets in a way which makes Moody's reconsider its rather pessimistic view of the sector in light of the coronavirus, the credit rating bureau tells ShippingWatch.
The world's biggest container shipping lines have been able to raise rates during the coronavirus crisis, and this could pave the way for a billion dollar overall profit in 2020, reports Sea-Intelligence.
Container vessel APL England has been released by Australian authorities after the insurer has emphasized that it will pay all fines and costs in the case.
German container line MPC Container Ships is in urgent need of fresh capital to withstand the market downturn that followed the coronavirus outbreak. Without a deal, the carrier risks a fire sale of ships and, in the end, bankruptcy.
New technology and digitalization in shipping are often used incorrectly or end up being a stress factor for officers, a new report from Danish university Aarhus University concludes based on data from eight vessels. At worst, it may lead to accidents.
As the latest in a line of shipping companies, Maersk declares that the coronavirus does not seem to have impacted container freight as hard as first feared, creating hopes that container lines can avoid a combined loss in 2020, and that the bottom has been reached, assess analysts.
Maersk expects a much lower impact from corona virus on its transported volumes in the second quarter than previously anticipated, the company informs in an update.
Since March, container ships have been lying in wait to be scrapped. A line of vessels have piled up, in particular off Alang in Asia, writes Alphaliner.
Several of the sailings that were previously planned to be blanked are now being reinstated, writes Alphaliner. The inactive container fleet has thus reached a peak and is slowly receding again.
Royal Arctic Line has hired new employees at its Aalborg and Nuuk terminals to become more efficient after its partnership with Iceland's Eimskip officially took off. "It didn't make much difference before whether we arrived two hours early or late," RAL CEO tells ShippingWatch.
Software firm Kontainers has been sold in a transaction that could amount to USD 12 million. The digital company has previously announced deals with container major Maersk and logistics companies Toll and Ceva.
Hapag-Lloyd has so far described its extraordinary cost reductions in 2020 due to the coronavirus as a plan totaling a "triple-digit million dollar figure". New information shows that the figure will total at least USD 400 million.
Operator, Dubai - PSTV
Vice-President, Chartering - Fednav
Business Analyst for International Shipping Company - Lauritzen Kosan
Technical Superintendent to UltraShip 
Tanker Operator – Aalborg - Uni-Tankers 
