Liner Shipping

TransPacific container lines recommend minimum market rates

AJOT | April 02, 2015 | Liner Shipping

Member shipping lines in the Transpacific Stabilization Agreement (TSA) are recommending a series of minimum short-term market rates, to take effect May 1, 2015. Read More »

Hamburg Süd takes first spot in February

AJOT | April 02, 2015 | Liner Shipping

Global schedule reliability improved by nearly 5 percentage points from January to February according to SeaIntel’s latest industry-leading Global Liner Performance report. Read More »

IUMI’s Spring Statistics report a continued reduction in total losses

AJOT | March 31, 2015 | Liner Shipping

The International Union of Marine Insurance (IUMI) has released its Spring Statistics which report on three key sectors: Hull, Cargo and Energy Read More »

Hamburg Süd closes take-over of CCNI’s container liner activities

AJOT | March 31, 2015 | Liner Shipping

Effective 27 March 2015, Hamburg Süd has taken over the container liner activities of Compañía Chilena de Navegación Interoceánica S.A. (CCNI) including the related general agency functions of Agunsa Agencias Universales S.A. (Agunsa) with headquarters in Valparaiso and Santiago de Chile. Read More »

East-West shippers may see a reversal of trend in container contract costs

AJOT | March 31, 2015 | Liner Shipping

Ocean freight rates for cargoes moving under contracts on major East-West routes have increased for the first time in years, according to Drewry’s Benchmarking Club, a closed user group of multinational retailers and manufacturers seeking to more closely monitor their international freight costs. Read More »

MOL to Name New Chairman, President

AJOT | March 31, 2015 | Liner Shipping

Mitsui O.S.K. Lines, Ltd. (MOL; President: Koichi Muto) today announced the appointment of a new chairman and president. Read More »

MOL to Launch Biannual Vessel Safety Campaign

AJOT | March 31, 2015 | Liner Shipping

MOL President Koichi Muto announced the launch of its biannual safety campaign on April 1, targeting all MOL group-operated vessels. Read More »

Rise in illegal fishing threatens to revive Somali piracy

Reuters | March 31, 2015 | Liner Shipping

A rise in illegal fishing off Somalia could spark a resurgence in piracy, United Nations and Somali fishing officials have warned, nearly three years after the pirates’ last successful hijacking in the Indian Ocean. Read More »

EU to ban owners from scrapping ships on South Asian beaches

Reuters | March 31, 2015 | Liner Shipping

European, Turkish and Chinese recyclers are set to benefit from strict new EU rules on breaking up old ships, but the practice of dismantling them on beaches in South Asia - at great human and environmental cost - will still be hard to stop. Read More »

Strong improvement in operating margin and net profit 2015 for CMA CGM

AJOT | March 30, 2015 | Liner Shipping

Faster growth with the delivery of new vessels and the start-up of the Ocean Three strategic alliance Read More »

Baltic sea index down as weak demand takes toll on vessel rates

Reuters | March 30, 2015 | Liner Shipping

The Baltic Exchange’s main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell on Friday as lack of demand took a toll on rates for most of the vessel segments. Read More »

CMA CGM to add 3 giant ships to pursue scale push

Reuters | March 30, 2015 | Liner Shipping

France’s CMA CGM, the world’s third-largest container shipper, announced on Monday plans to order three giant vessels and said higher volumes and profit last year showed its focus on economies of scale was bearing fruit. Read More »

China Cosco dry bulk shipping losses reduced sharply this year

Reuters | March 29, 2015 | Liner Shipping

China Cosco said losses in its main dry bulk shipping business fell sharply in 2014 and its container shipping gross profit grew amid a still subdued global shipping market. Read More »

Maersk Line orders seven container vessels from China

Reuters | March 29, 2015 | Liner Shipping

Danish shipping firm Maersk Line has signed an order for seven container vessels from COSCO Shipyard in China as the first step in a $15 billion investment programme over five years. Read More »

Asia-Europe container freight rates fall 5.5%

Reuters | March 27, 2015 | Liner Shipping

Shipping freight rates for transporting containers from ports in Asia to Northern Europe fell 5.5 percent to $586 per 20-foot container (TEU) in the week ended on Friday, a source with access to data from the Shanghai Containerized Freight Index told Reuters. Read More »

Panama Canal sets sights on new $17 billion expansion project

Reuters | March 26, 2015 | Liner Shipping | Ports & Terminals

As it enters the final stretch of a massive expansion, the Panama Canal Authority is setting its sights on an even more ambitious project worth up to $17 billion that would allow it to handle the world's biggest ships. Read More »

Beijing subsidies help China Cosco to higher full-year profit

Reuters | March 26, 2015 | Breakbulk & Projects | Breakbulk | Liner Shipping

China Cosco , operator of the country's largest dry bulk fleet, posted a 54 percent rise in full-year profit, boosted by subsidies from Beijing amid a subdued market. Read More »

Baltic sea freight index flat on muted vessel activity

Reuters | March 26, 2015 | Liner Shipping

The Baltic Exchange’s main sea freight index, which tracks rates for ships carrying dry bulk commodities, remained steady on Thursday due to a muted vessel activity. Read More »

CMA CGM VOLGA enters the fleet

AJOT | March 25, 2015 | Liner Shipping

The CMA CGM Group has announced that the CMA CGM VOLGA entered the CMA CGM fleet on March 17th, and started her first rotation in Dalian, China, on March 20th. Read More »

Mega ships and cyber attacks pose new threats for maritime sector, according to new Allianz report

AJOT | March 25, 2015 | Liner Shipping

Shipping losses continued their long-term downward trend with 75 reported worldwide in 2014, making it the safest year in shipping for 10 years, according to Allianz Global Corporate & Specialty SE’s (AGCS)  third annual Safety and Shipping Review 2015, which analyzes reported shipping losses of over 100 gross tons. Read More »