China's world-beating economic rebound from the coronavirus pandemic is being blunted by a global shortage of shipping containers, sending cargo costs to record highs and hampering manufacturers in filling fast-recovering global goods orders…
Handling of steel boxes throughout the shipping, ports and logistics supply chain has historically grown exponentially, putting strains on a range of operational procedures and the physical hardware employed to handle the steel boxes, particularly onboard ships…
Seaspan Ship Management selected Alfa Laval to help resolve steam balance and redundancy issues connected to sulfur-compliant fuels. The solution – an integrated steam boiler plant comprising oil-fired steam production, waste heat recovery,…
Mackay Marine announced the opening of its newest marine electronics service center, in Fujairah, U.A.E., located on the east coast of the Gulf of Oman.Mackay Marine–UAE provides Comm & Nav electronics sales and service to vessels in ports throughout the U…
During these unprecedented times, the International Transport Intermediaries Club (ITIC) recommends that brokers should consider stressing the current unusual market conditions in their ship valuation certificates.Following the financial crisis of 2008…
In an open letter posted on the MSC website, MSC Group President & CEO Diego Aponte offered public comment and perspective on the COVID-19 situation for MSC's cargo business. “The spread of COVID-19 has created a public health issue unprecedented in our lifetimes…
The container shipping segment appears to have caught coronavirus, with the industry suffering its first monthly fall in long-term contracted ocean freight rates since October 2019. According to the latest XSI Public Indices report from Xeneta…
German container shipper Hapag-Lloyd on Friday said the coronavirus outbreak would curb business growth at least until mid-year after reporting a jump in 2019 profit and proposing a higher dividend.Larger rival Maersk on Friday also warned of…
Taiwanese container transportation and shipping company Evergreen Line has launched a new digital platform designed to provide customers with seamless booking capabilities and greater access to integrated trade services.Evergreen Line said in…
Hong Kong-based owner and manager of containerships in the world Seaspan Corporation has agreed to purchase a fleet of four containerships for approximately $367 million in cash.The ships include four 12,000 TEU vessels, with three built in 2018 and one built in 2017…
For 2020, global container demand is projected to grow by 1-3%, as per forecast by A.P. Moller - Maersk.The continued weak global sentiment above all in the manufacturing sector reduces the likelihood of a material growth pick-up in 2020, although sentiment brightened a bit at the end of 2019…
Global integrated container logistics company A.P. Moller - Maersk posted improved earnings and free cash flow for 2019, despite weaker market conditions and global container growth of only 1.4 percent.However, the Danish business conglomerate…
Hamburg Süd is now exclusively represented by its own offices in Italy and Spain after business was previously partially handled by agents and joint-venture organizations. Furthermore, in Egypt the company has taken full management of Hamburg Süd Egypt…
The Northwest Seaport Alliance’s total container volume for January 2020 was 263,816 twenty-foot equivalent units (TEUs), a 19.1% decrease from January 2019.Following an unprecedented international container throughput for the same month last year — tied to shippers moving cargo ahead of tariffs…
India’s shipping and ports industry is likely to be negatively impacted by the outbreak of coronavirus (COVID-19) across China and South-East Asia, according to credit rating agency ICRA.China has been a major driver of global shipping trade in tanker…
