The chief executive of German container shipping liner Hapag-Lloyd said he was not aware of major merger activities in the sector a day after a Reuters report said his company had been approached by French rival CMA CGM.'We do not see major takeovers in the industry…
Increasing consumer demand and rising retail sales are driving record imports at the United States’ major retail container ports this month despite new tariffs on goods from China, according to the monthly Global Port Tracker report from the National Retail Federation and Hackett Associates…
The world's no. 3 container shipping line CMA CGM of France has made an exploratory approach to German rival Hapag-Lloyd over a possible merger as players in the sector hunt for tie-ups to beat depressed conditions, finance sources say.Three finance sources with knowledge of the matter…
You might call 2017 a banner year for California ports. San Pedro Bay, home to the nation's leading twin ports of Los Angeles and Long Beach exceeded their pre-recession peaks. Collectively, San Pedro Bay was up 7.2% from its 2006 peak. It took…
The Australian port solution provider Qube Ports will shortly receive its eighth mobile harbour crane from Liebherr. Now they also placed an order for their ninth LHM. Qube, the giant Australian logistics supplier with services and facilities in 28 Australian ports…
S&P Global adjusted their ranking on Panamanian infrastructure, including the Panama Canal Authority, from ‘stable’ to ‘positive.’ Two years after the inauguration of the Expanded Panama Canal, Standard & Poor's (S&P) Global Ratings revised…
Egypt's government denied in a statement on Thursday that the Suez Canal Authority was seeking a 300 million euro loan from Gulf lenders. Three senior banking sources that did not wish to be named had told Reuters last week that the authority…
Following three months of static air freight prices, they are finally moving again. The catalysts are seasonal changes in airplane assignments, looming European factory closures, and Amazon Prime Day. Meanwhile, ocean freight rates are now…
The risk to container shipping from US-led trade wars is currently low, but potentially very damaging, according to the latest edition of the Container Forecaster published by global shipping consultancy Drewry.“In the March report we said that we were hopeful of a peaceful resolution…
I was honored to be present in South Philadelphia on June 30 to witness the christening of the largest container ship ever built in the United States. It was built by Philly Shipyards for shipping company, Matson, Inc., and was named for the former Hawaii senator…
Maritime companies under market pressure have another negative force with which to deal: Steadily rising bunnker costs in tandem with oil's nearly year-long rise. According to Moody's, Hapag-Lloyd on June 29 revised its outlook for EBIT and…
Navios Maritime Midstream Partners, an owner and operator of tanker vessels, announced today that its board of directors has received a proposal from Navios Maritime Acquisition Corporation pursuant to which Navios Acquisition would acquire…
Largest Containership Built in U.S. Will Serve Hawaii. Matson, a U.S. flag carrier in the Pacific, and Philly Shipyard, Inc. (PSI), the wholly-owned U.S. subsidiary of Philly Shipyard ASA (Oslo: PHLY) christened the largest containership…
As one of the world’s leading shipping lines, Evergreen Line, is enhancing its operations with 3,000 containers refrigerated by Carrier Transicold PrimeLINE® units, chosen for their refrigeration performance and power efficiency. Carrier Transicold is part of UTC Climate…
Scandinavian Shipping & Logistics acquires the forwarding company Unitrans. “By this takeover we strengthen our position as a logistics company, both in Sweden and on the global market”, says Björn Eklund, owner of Scandinavian Shipping & Logistics…