Liner Shipping

EU raids Asian shipping firms’ Europe offices in antitrust probe

AJOT | May 19, 2011 | Liner Shipping

European Union officials have raided the European offices of a number of Asian shipping firms as part of a probe into suspected price fixing in the sector, the firms said.

Neptune Orient Lines(NOL), Orient Overseas (International) Ltd (OOIL), Evergree Read More »

WSC comprehensive review concludes equipment supply will be tight

AJOT | May 17, 2011 | Liner Shipping

Recognizing that questions arise from time to time about the adequacy of the supply of containers, the World Shipping Council undertook an evaluation of whether the expected global container fleet size is sufficient to handle the expected cargo demand. T Read More »

NOL Group reports US$10 million first quarter net loss

AJOT | May 17, 2011 | Liner Shipping

NOL Group, the Singapore-based container shipping and logistics company, today reported a first quarter 2011 net loss of US$10 million compared to a net loss of US$98 million in the same period last year. Read More »

MOL raises Y55 million to assist rescue and relief efforts

AJOT | May 17, 2011 | Liner Shipping

Mitsui O.S.K. Lines, Ltd. reported that it has donated a total of about \55 million to the Japan Red Cross Society and Central Community Chest for the Great East Japan Earthquake relief efforts. MOL raised the donation among MOL Group executives and emplo Read More »

EU watchdogs raid Maersk and other shippers

AJOT | May 17, 2011 | Liner Shipping

European Union regulators raided several liner shipping companies, including Danish group A.P. Moller-Maersk, on suspicion of price fixing, the Commission and Maersk said. Read More »

ACL to transport The Royal Shakespeare Company’s latest production for New York’s Lincoln Center…

AJOT | May 17, 2011 | Liner Shipping

Atlantic Container Line, an international transportation leader, is set to move The Royal Shakespeare Company's 90 containers of theatrical equipment and staging from Liverpool, New York City. In this rare U.S. appearance, the Company's six-week Read More »

CMA CGM to launch a new service between Asia, Indian Ocean Islands and South Africa

AJOT | May 12, 2011 | Liner Shipping

CMA CGM Group announced the launching of a new service linking Asia, Indian Ocean Islands and South Africa, effective May 8th, 2011.

Called Shaka Express, this new weekly service will deploy 6 vessels between 4500 and 6500 TEU, and will allow CMA CGM Read More »

Zepol reports April vessel imports increase

AJOT | May 12, 2011 | Liner Shipping

Zepol Corporation, the leading trade intelligence company,reports that U.S. import shipment volume for April, measured in TEUs, increased 7.95% from March and 5.68% from April of 2010. The total number of shipments also increased 7.25% from March and near Read More »

OOIL says orders six container vessels from Samsung

AJOT | May 12, 2011 | Liner Shipping

Orient Overseas (International) Ltd said it has ordered four new container ships from Korean shipbuilder Samsung Heavy Industries Co Ltd for a total of $544 million. Read More »

TUI taking time to decide on Hapag-Lloyd exit

AJOT | May 12, 2011 | Liner Shipping

TUI AG said it was taking its time to decide on how best to exit its stake in container shipping group Hapag-Lloyd.

The group, which also controls tour operator TUI Travel Plc , holds just under 50 percent of Hapag-Lloyd and is following a dual-track Read More »

Container firms passing on record bunker fuel costs to clients

AJOT | May 12, 2011 | Liner Shipping

Global container shipping firms are passing on record bunker fuel costs to retailers, manufacturers and other clients reliant on vessels for exporting their goods, an industry consultancy group said.

Singapore's benchmark bunker fuel price surged to 2 Read More »

Maersk first quarter tops forecast

AJOT | May 12, 2011 | Liner Shipping

A.P. Moller-Maersk reported first-quarter net profit at the top end of expectations, helped by higher than expected freight rates and buoyant oil prices.

They reiterated that 2011 earnings would be lower than 2010 and also repeated guidance for a "sat Read More »

Carrier expands service to Australia and New Zealand
PIL’s new route should aid exporters

AJOT | May 12, 2011 | Liner Shipping

Pacific International Lines has announced it is expanding its China Transpacific Service string to include ports in Australia and New Zealand on its westbound leg. Read More »

More Hapag-Lloyd options for TUI AG this time

AJOT | May 02, 2011 | Liner Shipping

Germany's TUI AG , the owner of Europe's largest travel firm TUI Travel , is seeking to exit its stake in container shipping group Hapag-Lloyd to focus on tourism activities.

With IPO markets volatile and its last attempt at selling off Hapag-Lloyd in Read More »

Shippers’ Voice calls for debate 
on container freight derivatives

AJOT | May 02, 2011 | Liner Shipping

Are container freight derivatives the solution to the continuing problem of excessive freight rates volatility or are they a casino, 'as reliable as rolling a dice'?

Shippers' Voice is encouraging shippers, freight forwarders, carriers and others to e Read More »

NOL carries 12% more cargo in 4 weeks

AJOT | May 02, 2011 | Liner Shipping

Neptune Orient Lines (NOL), the world's seventh largest container shipping firm, it carried 12 percent more cargo in the four weeks to April 8 from a year ago, helped by higher traffic on intra-Asia and Asia-Europe routes.

NOL carried 229,700 forty-fo Read More »

Horizon Lines reaches agreement with CSX on reduced vessel charter payments

AJOT | May 02, 2011 | Liner Shipping

Horizon Lines, Inc. announced that it has finalized an agreement with CSX Corporation to reduce charter payments on three vessels leased from CSX.

Under the agreement, charter hire expense has been reduced by $3 million annually, retroactive to Januar Read More »

Court reduces Horizon Lines’ fine to $15 million

AJOT | April 28, 2011 | Liner Shipping

Horizon Lines, Inc. announced that a federal court has granted a request by the U.S. Department of Justice to reduce the company's fine related to federal antitrust violations in the Puerto Rico tradelane from $45 million to $15 million. 

 Read More »

China COSCO posts Q1 loss on slumping shipping rates

AJOT | April 28, 2011 | Liner Shipping

China COSCO Holdings Co Ltd, flagship of the country's No.1 shipping conglomerate, posted a net loss of 503.3 million yuan ($77.3 million) in the first quarter as shipping rates slumped amid a supply glut.

China COSCO , which operates the world's larg Read More »

Horizon Lines reports first quarter financial results

AJOT | April 28, 2011 | Liner Shipping

Horizon Lines, Inc. reported financial results for the fiscal first quarter ended March 27, 2011.

As a result of previously announced plans to discontinue the logistics business, financial results are being presented on a continuing operations basis, Read More »