Ocean carriers cannot afford to operate services from Asia to Europe at rates which are between 25% and 30% lower than in January, says Drewry.Although the recent collapse of rates was excessive, it will not be reversed until carriers withdraw…
Attempts by carriers to tackle the capacity overhang are being undone as new orders for Ultra Large Container Vessels (ULCVs) continue to make the headlines, according to Drewry’s monthly report Sea & Air Shipper Insight.The news that China…
First quarter 2013 net loss amounted to US$ 20.1 million, while rate, net of fuel, increased 1.9% & adjusted EBITDA was up 25.7% from a year ago.Sam Woodward, Horizon Lines' President and Chief Executive Officer said:'The positive factors…
Maersk Line hires Stephen Richard Schueler as Chief Commercial Officer, effective as of 27 May, 2013.Richard Schueler, 46, joins Maersk Line from Microsoft Corporation where he was head of global retail sales and marketing. Prior to Microsoft…
China Shipping Industry (Jiangsu) has begun construction of the largest container ship yet to be built in China.The 10,000TEU container ship is being built for China Shipping Container Lines Co., Ltd. (CSCL) which the shipbuilders describe…
Ultrapetrol (Bahamas) Limited, an industrial transportation company serving marine transportation needs in three markets (river business, offshore supply business and ocean business), announced the appointment of Ms. Cecilia Yad as the Company's Chief Financial Officer…
Estimates by the Port Development Council show container volumes through the 9 Kwai Tsing container ports fell 5.9 per cent in March.While the month-long dockers strike is costing Hongkong International Terminals a reported HK$5 million a day…
Pirates attacked the German-owned Liberian-flagged container ship 'Hansa Marburg' off the coast of Equatorial Guinea.Citing the Hamburg-based shipping firm Leonhardt and Blumberg, owners of the vessel, Reuters report that the the four hostages - two Ukrainians…
The Board of Directors of leading US carrier in the Pacific, Matson Inc., declares its second quarter cash dividend of $0.15 per share.'I am pleased to announce that our Board of Directors have authorized our second quarter 2013 dividend,' said Matt Cox…
Port of Houston Commission to negotiate a contract for the purchase of 4 new electric cranes for Barbours Cut Container Terminal.Demonstrating continued investment in infrastructure improvements to better serve customers, the Port Commission…
The United Arab Shipping Company (UASC) announce two senior executive appointments to further position the company for its next phase of growth. The company says its major transformation and investment program which is underway, calls for a new operating model to support the business…
The modification of two Maersk shipping routes to pass through the Suez Canal rather than Panama is temporary, says a Maersk spokesman.The diversion from the Panama Canal to an alternate route has contributed to a decline in revenue for the canal administration…
Horizon Lines relocated its Northeast port of call from Elizabeth, New Jersey to Philadelphia, to mark another milestone for the Port of Philadelphia. Led by Governor Tom Corbett and political and business leaders from across the region, the Packer Avenue Marine Terminal welcomed Horizon Lines…
MOL (America) Inc. announce intermodal transit on-time performance results for January-March 2013. MOL’s overall intermodal transit on-time performance was 71% for January-March 2013, for the three origin ports in Asia, to the six inland destinations in the United States…
Striking dockers step up their action outside owner Li Ka-shing's office building to urge Asia's richest man to intervene.According to the South China Morning Post research has shown that the industrial action could have cost the port operator…
