rss icon Subscribe
desktop mobile

Container Ships

Global Ship Lease Extends Charter with OOCL

OOCL Qingdao. Photo: OOCL

 Global Ship Lease, a containership charter owner, today announced that it has agreed to an extension of its charter with OOCL for the OOCL Qingdao, a 2004-built, 8,063 TEU containership.    The extension commences in direct continuation of the current charter with effect from March 11, 2018, at a fixed rate of $14,000 per day.

iContainers to Represent Spain at 4YFN

Photo: iContainers

iContainers, a 100% online freight forwarder, has been chosen as one of the 32 most innovative and disruptive companies to represent Spain at the Spanish pavilion at this year’s 4YFN (4 Years From Now), a business platform for startups that’s being held in conjunction with the Mobile World Capital in Barcelona from February 26 to 28 this year.

Maersk to Compete with UPS, Fedex

File Image: The Madrid Maersk, a 20,000+ TEU Box ship (CREDIT: Maersk)

A.P. Moller-Maersk plans to expand its transport and logistics business to compete directly with package delivery companies UPS and Fedex as part of a major restructuring, its chief executive said Tuesday.   Maersk, the world's largest container shipping company, has sold off the majority of its energy

Hedge Funds Hook Shipping Stocks Grappling for Recovery

Emerging recovery for segments of global shipping industry; Nordic American Tanker and Dryships Inc among popular stocks.   Shipping stocks may still be in the doldrums in the view of many investors, but hedge funds have bet at least $675 million on signs of renewed buoyancy in the industry.   Hedge

Port of Los Angeles Moves 808,728 TEUs in January

file Image: The port of Los Angeles (CREDIT Adobestock / (c) Ginton)

Last  month was the second busiest in the Port's history.   The Port of Los Angeles handled 808,728 Twenty-Foot Equivalent Units (TEUs) in January 2018, the second-busiest January in the port’s history behind last January’s record of 826,640 TEUs. While a slight decrease compared to last January’s record,

Diana Sells Containership New Jersey

Diana Containerships Inc. (NASDAQ: DCIX) announced that it has signed, through a separate wholly-owned subsidiary, a Memorandum of Agreement to sell to an unaffiliated third party the 2006-built vessel “New Jersey” for demolition, on an “as is where is” basis, with delivery due to the buyer by mid-March 2018, for approximately $9.

Container Shipping Struggles with Overcapacity: McKinsey

Graphics: McKinsey & Company

 The container shipping industry is expected to continue to struggle with overcapacity and an inability to deliver value to shareholders, warns consultancy McKinsey & Company in its latest report.   As container lines search for successful paths forward, they need to first determine what their strategy

Dry Bulk, Container Markets Strengthened in 2017: Torvald Klaveness

Photo:  Torvald Klaveness

 The tanker market remained subdued, while the dry bulk and container markets strengthened during 2017, said Norwegian shipping company Torvald Klaveness.   Torvald Klaveness managed to improve its financial results in 2017, but they “were still not at a satisfactory level”, Torvald Klaveness said.

Rotterdam Port in Container Shipping Partnership with Barge Terminal Tilburg

From left to right: Wil Versteijnen (BTT), Emile Hoogsteden (Port of Rotterdam) and Luc Smits (CCT). Photo: Port of Rotterdam Authority

 Barge Terminal Tilburg, Combined Cargo Terminals, Moerdijk Container Terminals and Danser Group have joined forces, agreeing to combine cargo along the route between Tilburg, Moerdijk and the port of Rotterdam.    This allows them to cut back on the number of vessels required – resulting in less

Maersk Profit Miss, Outlook Puts Shipping in Spotlight

(File photo: A.P. Moller - Maersk)

Maersk management hints at hitting top of 2018 EBITDA range.   A.P. Moller-Maersk's move to focus on transport and jettison oil was tested on Friday as the world's largest container shipping firm missed profit forecasts and gave what analysts saw as a conservative outlook.   Shipping, which has

Evergreen Orders Eight 11,000 TEU Containerships

From left to right:  EMC President  Lawrence Lee; EMC Chairman  Anchor Chang; SHI CEO  J.O. Nam; SHI CMO  K.H. Kim (Photo: EMC)

Evergreen Marine Corp. (EMC) said it has entered into an agreement with South Korean shipbuilder Samsung Heavy Industries (SHI) to order eight 11,000 TEU containerships.   Four ships will be owned by EMC’s subsidiary, Greencompass Marine S.A. and a further four by Evergreen Marine (Hong Kong) Ltd.

Maersk Analysts Strike Cautious Tone

File Image: One of Maersk's largr boxships, the Madrid Maersk (CREDIT: Maersk)

Analysts believe results and outlook in the final quarter report of Maersk (Feb. 9) might be weighed down by consolidation effects from the Hamburg Sud deal and the market situation in China.   Morgan Stanley says integration expenses related to the deal would limit profitability contribution in 2018

India's Major Ports See 4.58% Cargo Traffic Growth

© Andrew Babble / Adobe Stock

Major ports in India have recorded a cargo traffic growth of 4.58 percent and together handled 560.97 million tonnes (MT) of merchandise during the period April 2017 to January 2018, as against 536.41 MT handled during the corresponding period of previous year.   For the period from April 2017 to January 2018, eight ports i.

Pacific International Lines Start Service in Far East - Red Sea Routes

Photo: Pacific International Lines

 Pacific International Lines (PIL), Singapore’s leading containership operator, announces two upgraded weekly services on the Far East – Red Sea service route.   Done in collaboration with Ocean Alliance, the routes named RSS and RES will commence operations in March 2018, superseding the current three services RSS, RS3 and RS5.

Maritime Apps