China's National Development and Reform Commission (NDRC) is visiting several major container shipping lines’ offices in Shanghai and throughout the country as part of its surcharges investigation. According to local media reports, NDRC…
The idle containership fleet has reached its highest level in five years, with over 1 Mteu of vessel capacity currently unemployed. Carriers are removing capacity on most main tradelanes in response to weak market demand, with the Asia to Europe route witnessing some of the most drastic cuts…
The Bureau International des Containers (BIC) has announced Stephen L. Caldwell of the United States as the winner of the 2015 BIC Award, in recognition of more than 30 years’ dedication to improving international security, including more than…
Seaspan Corporation announced that Sai Chu, Chief Financial Officer, has informed of his resignation and retirement from Seaspan effective November 6, 2015, after more than 10 years' of service with Seaspan and related entities.Gerry Wang…
On October 15 as part of the company’s Remember Naka-no-Se Campaign,* NYK conducted a crisis-response drill based on the scenario of a serious accident occurring on an NYK-owned VLCC (very large crude-oil carrier). Cooperation from the Maritime Bureau within Japan’s Ministry of Land…
'The container shipping industry is in the midst of an over-capacity crisis which will worsen next year,' Neil Dekker, director of container shipping research at Drewry said in a note accompanying the release of its 2015 edition of the Container Market Annual Review and Forecast 2015/16…
Neptune Orient Lines Ltd (NOL) has officially confirmed that it is a takeover target of two separate companies: French shipping company CMA CGM and Danish conglomerate AP Moeller-Maersk. As per a report in the Business Times, NOL said…
German shipping company Wessels Reederei has signed a contract with MAN Diesel & Turbo at the Europort exhibition for maritime technology to retrofit the 8L48/60B main engine of its 1,000-teu containership Wes Amelie to dual-fuel operation,…
ABS announced its participation in the World Shipping (China) Summit 2015, November 5-6, in Guangzhou, China, where ABS Senior Vice President and Chief Technology officer Howard Fireman spoke about changes in the global shipping industry.In…
In terms of geography, North America dominates the global container shipping market . This is due to improved transportation services in this region, says a report from Persistence Market Research. The U.S. represents the largest market…
CMA CGM has teamed up with French wooden toy manufacturer VILAC to launch a wooden toy containership for children. The toy will be branded with both CMA CGM and VILAC containers. It was designed by CMA CGM and will be sold by VILAC. This…
Dockworkers in the Portuguese ports of Lisbon, Setubal and Figueira da Foz will go on a 10-day strike starting Nov. 14 to protest at a potential end of collective bargaining agreements, the stevedores union said in a statement.The ports to be affected by the strike are the third…
Wells Fargo Securities says that headwinds face global shipping industry and the continued overcapacity means freight rate gains are less likely to stick. 'Given the continued overcapacity headwinds and easing containerized trade demand…
Maersk Line, the world's largest container shipping company, said on Wednesday it will slash costs, cut staff by almost a fifth and pull out of vessel orders as trade along the busiest routes in the world, from Asia to Europe, slows down. The business…
Rickmers Group will migrate to multiband VSAT (Very Small Aperture Terminal) from Marlink Maritime VSAT for its fleet of 90+ vessels including containerships, bulk carriers and heavy lift vessels, in a move that aims to improve operational…
