Liner Shipping

CMA CGM reports excellent performance for 2010

AJOT | February 27, 2011 | Liner Shipping

The Board of Directors of France-based CMA CGM, the world's third largest container shipping group, met under the chairmanship of Jacques R. Saad' to review the financial statements for the year ended 31 December 2010. Read More »

Horizon Lines announces management changes

AJOT | February 27, 2011 | Liner Shipping

Horizon Lines, Inc. announced that the company's Board of Directors has named Alex J. Mandl to the position of Chairman and appointed Stephen H. Fraser as interim President and Chief Executive Officer (CEO), succeeding Chairman, President and Chief Execut Read More »

Horizon Lines reaches resolution with Department of Justice and moves forward on debt refinancing ef

AJOT | February 27, 2011 | Liner Shipping

Horizon Lines, Inc. confirmed that it has entered into a plea agreement with the Antitrust Division of the U.S. Department of Justice (DOJ). Under the agreement, which is subject to court approval, Horizon Lines will plead guilty to a charge of violating Read More »

Maersk guides for lower 2011 after record profit

AJOT | February 23, 2011 | Liner Shipping

A.P. Moller-Maersk said it will not repeat last year's record earnings in 2011 due to expected lower oil output combined with uncertainty about freight rates and oil prices.

The shipping and oil group beat 2010 forecasts on the back of a container shi Read More »

UPS expands throughout Asia its expedited ocean freight service

AJOT | February 23, 2011 | Liner Shipping

On the heels of a successful rollout in Japan, UPS announced the expansion of its UPS Preferred LCL (less-than-container-load) Ocean Freight service to 10 additional Asian ports. The service provides up to 40 percent faster port-to-door delivery to the U Read More »

NOL to boost orders to address freight shortage

AJOT | February 23, 2011 | Liner Shipping

Neptune Orient Lines (NOL) , the world's seventh largest container shipping firm, will order more vessels to address an expected shortage in the global freight market within a few years, its chief executive said.

The remarks come three days after A.P. Read More »

Royan named Director, Business Information Management & Corporation Documentation by Hamburg S’d…

AJOT | February 23, 2011 | Liner Shipping

Hamburg S'd North America, Inc. announced that effective March 1, 2011, Tawab Royan will assume the post of Director, Business Information Management and Corporate Documentation, based at the firm's North American main offices in Morristown, NJ. Read More »

Hapag-Lloyd to be worth as much as $4.75 blllion

AJOT | February 21, 2011 | Liner Shipping

Hapag-Lloyd, the world's fifth-largest container shipping line, aims to be valued at between 3 billion and 3.5 billion euros ($4.07 billion-$4.75 billion) when it lists on the German stock exchange on April 15, a newspaper reported.

Citing an analyst Read More »

Daewoo wins up to $5.7 blllion Maersk ship order

AJOT | February 21, 2011 | Liner Shipping

Daewoo Shipbuilding & Marine Engineering has landed a $1.9 billion order from A.P. Moller-Maersk to build 10 huge container ships, with options to deliver another 20 similar vessels.

At a cost of $190 million per vessel, Maersk said the total contract Read More »

Maersk likely to use first half of Daewoo option

AJOT | February 21, 2011 | Liner Shipping

Maersk Line said it is likely to exercise the first half of a 20-vessel option for additional ships under a $5.4 billion deal with shipbuilder Daewoo.

Maersk confirmed that it placed an order with Daewoo Shipbuilding & Marine Engineering for 10 large Read More »

Maersk 2010 profit seen meeting guidance

AJOT | February 21, 2011 | Liner Shipping

A.P. Moller Maersk is expected to report a swing back into profits for 2010 that will meet the company's guidance for net earnings of about $5 billion, a Reuters poll of analysts showed.

Net profit was estimated on average to be 27.72 billion Danish c Read More »

Two more Rickmers container giants named

AJOT | February 21, 2011 | Liner Shipping

The naming of two more 13,100 TEU container vessels for Rickmers Group took place in Ulsan, Korea. Leo Rickmers and Scorpio Rickmers will come into service for their charterer Maersk Line as Maersk Edmonton and Maersk Elba. Leo Rickmers was named by Manu Read More »

Hanjin sees growth in cargoes but falling profits

AJOT | February 21, 2011 | Liner Shipping

Hanjin Shipping , the world's ninth biggest container shipper, predicted global container shipments would grow up to 8 percent this year, supported by bright trans-Pacific trade prospects.

"(A) return to normalcy--that is our expectation and hope," ch Read More »

Hamburg S’d celebrates christening of a 7,100 TEU container ship

AJOT | February 21, 2011 | Liner Shipping

Hamburg S'd has christened the 'Santa Isabel' in Singapore. She is the second of ten identical container vessels with a capacity of 7,100 TEU each. This makes them not only the largest ships ever built for Hamburg S'd, but also, with their 1,600 reefer pl Read More »

OOCL announces re-introduction of the Atlantic Express Service (AES)

AJOT | February 17, 2011 | Liner Shipping

OOCL announced re-introduction of the Atlantic Express Shuttle (AES) with an additional port call to Hamburg.

Revised rotation will be: Hamburg-Antwerp-New York-Hamburg. Read More »

Sea Star Line reaches 10,000 load milestone

AJOT | February 17, 2011 | Liner Shipping

Sea Star Line, LLC, will soon mark one year of its weekly service to Puerto Rico from the Port of Philadelphia's Tioga Marine Terminal. After less than 10 months of operation, Sea Star Line's fleet of three vessels has moved a milestone 10,000 loads throu Read More »

NOL says Q4 net profit $177 mlllion

AJOT | February 17, 2011 | Liner Shipping

Neptune Orient Lines (NOL) , the world's seventh largest container shipping firm, reported on Wednesday better-than-expected fourth-quarter net profit, reversing from a loss the previous year as freight rates and cargo volumes soared. Read More »

Containerships implements IAS EquipmentRepair

AJOT | February 13, 2011 | Liner Shipping

European carrier Containerships has adopted the EquipmentRepairTM system from IAS to manage its entire container maintenance and repair programme. The Helsinki-based carrier provides door-to-door services Read More »

IICL elects new chairman

AJOT | February 13, 2011 | Liner Shipping

The Institute of International Container Lessors' (IICL) President, Steven Blust, announces that Peter Younger, Chief Executive Officer and President of Cronos Ltd. has been elected to the position of Chairman of the IICL for 2011, succeeding Joseph Kwok Read More »

MOL expands refrigerated cargo staff assignments

AJOT | February 13, 2011 | Liner Shipping

MOL announced another step in its expanded commitment to refrigerated cargo service capabilities with the restructuring of its refrigerated sales and trade team. MOL's three US Sales Regions now have assigned sales managers whose primary focus will be de Read More »