Greek Danaos, which owns container tonnage, delivered a slightly better result for the third quarter, a period in which several uncertainties put a damper on willingness to build new ships. This is positive on the long term, says CEO John Coustas.
Maersk and IBM's digital platform Tradelens is, despite a lack of support from other shipping companies, at a "much more advanced stage" than the new blockchain initiative launched by Cosco and CMA CGM, among others, says Maersk Group CEO Søren Skou.
As ShippingWatch recently reported, several of the world's largest container liner companies have formed a digital partnership aimed at creating standards for the container shipping industry.
Maersk now expects that the Hamburg Süd acquisition could produce more than USD 500 million in synergies. Meanwhile, the global container market faces a slowdown and a series of risks. "We don't have high expectations for growth," says CEO Søren Skou.
Major feeder tonnage owner MPC Container Ships has opted to buy scrubbers for five of its ships, with an option to buy ten times as many additional scrubber systems.
Maersk Ocean delivers an improved operating profit of USD 925 million in the third quarter, while the segment's revenue grew 32 percent. But the towering bunker prices still strain the business, says CEO Søren Skou.
Taiwanese liner company Wan Hai has ordered upwards of 28 new feeder ships, to be built in Japan and China.
When Maersk on Wednesday presents its results for the third quarter, the operating profit (EBITDA) will show an increase, projects investment bank Jefferies. Container rates have reached the highest level since 2014.
ONE was born with deficiencies and is now striving to get back on track. "We have recovered most of what was originally lost," CEO Jeremy Nixon says in an interview with ShippingWatch. Still, 2019 is difficult to predict.
Not only does it makes sense, it is a prerequisite for the digital transformation to take place, when several of the world's largest liner shipping companies – according to ShippingWatch's sources – are close to agreement on a new shared association for standardization, says Seaintelligence CEO Lars Jensen.
If the EU Commission decides to end a unique competition rule for the liner shipping companies, it will make some elements more difficult for the container carriers, Hapag-Lloyd CEO Rolf Habben Jansen tells ShippingWatch.
It is healthy that there are now two competing blockchain platforms for container shipping, as they can push each other to develop strong solutions for the industry overall, says shipping analyst Lars Jensen.
According to Platts, several Asian shipowners have started testing a new fuel ahead of the upcoming sulfur regulations, which come into force in less than 14 months.
Hapag-Lloyd is still optimistic about the container market in the years to come. Speaking to ShippingWatch, CEO Rolf Habben Jansen declines to comment on a new global association underway among the major liner companies.
German container carrier Hapag-Lloyd more than doubled its bottom line in the third quarter compared to the same period last year. "We remain cautiously optimistic for the rest of the year," says CEO Rolf Habben Jansen.
The world's Top-6 container carriers are about to put the finishing touches on a new global association that will be presented soon according to ShippingWatch's sources. Standardization of the industry is the key word.
If the major liner companies have ordered their last scrubber, the exhaust-filtering system was far from the industry's preferred solution. A very small portion of Maersk Line's fleet will be equipped with the system, while others appear to have completely avoided the technology.
More than 200 individuals and ships in the Iranian shipping and energy sector, including the two major state-owned carriers, are included on the US sanction list. The US warns the global shipping industry against Iranian attempts to evade the sanctions.
In a comprehensive report, the International Transport Forum, under OECD, voices fierce criticism of the three mega-alliances. The negative consequences far surpass the benefits, and politicians need to act. Read the conclusions and find the complete report here.
Cosco Shipping Holdings saw its revenue grow in the first nine months of 2018 with contributions from OOCL acquisition, though net profits dipped.
There is a real risk that the special consortia block exemption that allows competing liner companies to collaborate could be ditched entirely when the EU Commission reviews the exemption soon, says Martin Andre Dittmer, secretary general of the European Maritime Law Organization, to ShippingWatch.
Maersk has created a new digital solution, where customers can quickly book containers, writes Danish business daily Berlingske Business.
Regardless of whether shipyards in Alang are included on the EU list of approved shipbreaking facilities in the years to come, Maersk will continue to send ships to be scrapped in India. Maersk selects shipbreakers on the basis of a financial assessment, the company's head of sustainability strategy, John Kornerup Bang, tells ShippingWatch.
There were difficulties during the launch phase, but recently merged Japanese liner company Ocean Network Express still believes in cost savings totaling a little more than USD 1 billion.
Growth on the top and bottom line continued into the third quarter for Seaspan, driven in particular by an acquisition earlier this year, says President and CEO Bing Chen.
Head of Tanker Vessel Group - NORDEN
Chaterring Executive, Singapore Office - Hudson Shipping Lines
Talented Vessel Manager to TORM
