Container shipping firm Hapag-Lloyd said surging demand for bulky goods like exercise equipment from locked-down consumers may flatten out in the second or early third quarter, helping to ease disrupted shipping logistics.'Things will normalize…
The Port of Los Angeles and cargo shipping lines are diverting some ships to other West Coast ports as a six-month import surge strains capacity at the busiest gateway for ocean trade in the United States.Container lines such as Hapag Lloyd…
Germany's Hapag-Lloyd sees its first-quarter operating profit more than tripling to at least 1.5 billion euros ($1.81 billion) thanks to strong demand for container transportation amid the coronavirus pandemic, it said on Tuesday.The company…
Bulgarian authorities have seized 401 kilograms of heroin hidden in containers on a ship that arrived at the Black Sea port of Varna from Dubai, the prosecutor’s office said on Tuesday.Customs officers found the heroin divided among nearly 500 packages stashed inside bitumen roofing rolls from Iran…
The Helen Delich Bentley Port of Baltimore reports it has again topped its record for most container moves from a single ship.The 6,000 container moves conducted by longshore workers from the Maersk Edinburgh at the Seagirt Marine Terminal this…
About 800 workers from the ports of Los Angeles and Long Beach on Friday will be in the first wave of COVID-19 vaccinations for employees at the United States' busiest seaport complex, which has been hard hit by pandemic-related workforce disruptions and surging imports…
Seaspan Corporation announced Friday that it has entered into an agreement to order up to 10 dual-fuel liquefied natural gas (LNG) containerships from South Korean shipbuilder Samsung Heavy Industries.Seaspan, a wholly owned subsidiary of Atlas Corp…
As Australian producers scramble to find markets for goods hit by Chinese import restrictions, it might look as though China is winning the diplomatic war.But the current situation is a diplomacy fail for China as much as for Australia.What products have been banned…
A surge in demand for goods like furniture and exercise equipment from locked-down consumers has sparked a jump in shipping rates, boosting profits for Danish freight giant Maersk, the company said on Wednesday.Yet shares in the world’s largest…
German shipping company Hapag-Lloyd has joined the shift to green financing, securing funds for six liquefied natural gas (LNG) powered, 23,500 TEU containerships it ordered in December 2020.The firm said it concluded two transactions according…
Long-serving Hamburg Süd executive Poul Hestbaek will take the CEO reins from Dr. Arnt Vespermann, who will step down after more than 20 years at the German container shipping company.Hestbaek has been with Hamburg Süd since 2004 and is currently the company's CCO…
What started as a red-hot container market for Far East to U.S. trades has now spread to other routes, with rates from the Far East to Brazil seeing particularly high spot rates, BIMCO says. On January 24, 2021, the base freight rate for a forty…
French shipping group CMA CGM said on Wednesday it has reached an agreement with Egypt to operate a future container terminal at the port of Alexandria.Operations at the planned terminal are due to start in 2022, CMA CGM said in a statement.(Reporting by Gus Trompiz Editing by Chris Reese)
Container shipping giant Mediterranean Shipping Company (MSC) said it is working to advance the exploration viability of hydrogen and fuels derived from it as potentially viable fuel sources for its vessels.The initiative is part of the Swiss…
High shipping rates are set to continue for at least several weeks, despite new coronavirus lockdowns in Europe, boosted by demand for furniture, exercise equipment and home improvement goods, shipping group Maersk said on Wednesday.A surge…