Pain in the containershipping sector is not uncommon in 2023, and Israel's ZIM Integrated Shipping Services Ltd. (NYSE: ZIM) is no exception, today reporting 2Q and six month results:Net loss for the second quarter was $213 million, negatively impacted by a non-cash after tax item of $51 million related to the redelivery of certain vessels.Operating loss (EBIT) for the second quarter was $168 million…
Thousands of cars are now entering Turkey after DP World Yarımca introduced a ‘cars in containers’ shipping solution that has helped solve an automotive supply chain crisis in the region.Congestion at Turkish ports has resulted in significant…
Victoria International Container Terminal (VICT), Australia’s first fully automated container terminal, will soon be handling the largest container ships to arrive in Australia after the recent delivery of two new ship-to-shore (STS) cranes…
Victoria International Container Terminal (VICT) is marking a significant milestone with the arrival of the CMA CGM Pelleas which has docked at the Port of Melbourne.At 350 meters in length, the container ship is the largest ever to dock in Australia…
Transatlantic shipping freight rates have come under pressure from slack demand, meaning ship operators must watch costs, the chief executive of Germany's Hapag-Lloyd said on Monday.'Rates have definitely collapsed, and that means we have to start looking at our costs…
COSCO SHIPPING Ports has announced its interim results for the six months ended 30 June 2023, highlighting that total throughput increased by 2.2% YoY to 64,572,872 TEU and equity throughput increased by 1.3% YoY to 20,751,365 TEU.Revenue decreased by 2…
The World Maritime University (WMU) has released a pre-study report entitled Synchromodality as a Prospective Digitalization Scheme for Freight Logistics.The study explores the potential of digital technologies and synchromodality to transform…
DP World has signed a concession agreement with the Deendayal Port Authority to develop, operate and maintain a new 2.19 million TEU per annum mega-container terminal at Kandla in Gujarat on India’s western coast.The concession to develop the…
The US Port of Savannah has taken delivery of four Super Post-Panamax ship-to-shore cranes, upgrading the crane fleet to 34 machines at Garden City Terminal after four older cranes are retired and recycled.Along with the completion of our project to improve Berth 1…
The Port of Los Angeles has recognized the achievements of more than two dozen shipping lines and carriers for participating in the Port’s Vessel Speed Reduction Program (VSRP), an air quality and annual incentive program for vessel operators…
Xeneta believes long-term ocean freight rates may have started bottoming out after around a year of persistent, often dramatic monthly falls. The Oslo-based benchmarking and market analytics company says the latest general rates increases (GRIs) from carriers appear to have held “relatively firm…
The Port of Los Angeles moved 684,291 TEUs in July as cargo shipments declined compared to last year’s record month.“Global trade has eased as warehouse inventories of retailers and manufacturers remain elevated,” said Port of Los Angeles Executive Director Gene Seroka…
ZIM Integrated Shipping Services has announced a restructuring of its existing services to Oceania (CAX, TFX and N2A) in collaboration with MSC.Danny Hoffman, ZIM EVP Intra-Asia, said: “Our current Oceania services network will be restructured…
APM Terminals Pipavav has shattered its previous records by successfully achieving over 200 port moves per hour (PMPH) on a single vessel for the first time in the history of its operations.On August 17, 2023, the port, located on the coast of Gujarat…
Evergreen Marine has officially opened Terminal 7 at Kaohsiung Port, a smart terminal expected to drive ongoing growth of shipping related industries within southern Taiwan. The terminal is the first and largest fully-automated container terminal…
