CMA CGM, the world’s third largest container shipping company, reported revenue of $7.3b for the first six months of 2011, an increase of 8% compared with the year-earlier period. Business benefited from an increase in volumes carried and stable freight rates on most of the group’s lines…
Key marine terminal software providers join forces to complement their offerings.Hong Kong based arl-shipping.com Limited and Dutch headquartered TBA B.V. today announced they have teamed up to join forces and offer their customers a complementary set of products and services…
Commitments Secured to Move Forward with Refinancing; Consummation of Transaction Expected by the End of September.Horizon Lines, Inc. announced that it has entered into a definitive agreement and secured commitments from holders of more than 99% of its 4…
Effective from 4 September 2011, Hamburg Süd will expand its coverage of West Coast Central America by joining APL in a two loop service concept (WECA).- String 1 (WCX – WECA1) will deploy three vessels of 1.300 TEU nominal capacity and has…
Danaos Corporation (NYSE: DAC) on August 22, 2011 took delivery of a new containership, the CMA CGM TANCREDI, expanding its operational fleet to a total of 57 containerships aggregating 274,089 TEU. The CMA CGM TANCREDI, built at Shanghai…
According to a report on Reuters, South Korea's Daewoo Shipbuilding and Marine Engineering has won a deal to build five 13,100 TEU containerships for Hyundai Merchant Marine, for a reported $639m. (Source: Reuters)
Revenue for the period increased by 9% to $29.9bn $27.4bn), primarily due to higher oil prices and container volumes. Profit for the period was 8% higher at $2.7bn $2.5bn), positively affected by divestment gain from sale of Netto Foodstores Limited…
Horizon Lines has promoted Alherd Kazura to the New Position of VP International Services Horizon Lines, Inc. (NYSE: HRZ), the nation's leading domestic ocean shipping company, today announced that Alherd Kazura has been appointed to the new position of Vice President of International Services…
Rickmers-Linie, part of Hamburg’s Rickmers Group, has extended its executive board. Rüdiger Gerhardt has been appointed Managing Director and Ulrich Ulrichs becomes Deputy Managing Director. Mr Gerhardt has been working for Rickmers since 1978…
In this year’s 'Global Container Terminal Operators' annual report, Drewry Maritime Research has introduced an additional ranking of terminal operators which includes SIPG, China Merchants, Modern Terminals and Ports America in the Top 10. The…
The Panama Canal Authority (ACP) and Port Everglades renewed their strategic alliance today with the signing of a Memorandum of Understanding (MOU). First signed in August 2009, the MOU, which is renewable for five years, solidifies both entities’ dedication to growth and best customer practices…
Container shipping leader APL’s on-time performance in the Trans-Pacific trade was 94% for the first half of 2011. In its mid-year report on 2011 vessel reliability, the Singapore-based carrier said today that APL ships missed their arrival…
Plunging rates for chartering container vessels that carry consumer goods means a slowdown and losses for shipping lines in what is traditionally their busiest time of the year, according to a report on Bloomberg.com.As reported earlier today on MarineLink…
Mitsui O.S.K. Lines, Ltd. announced a downward revision of its consolidated business outlook for FY2011, ending March 31, 2012 (April 1, 2011-March 31, 2012), issued on April 28, 2011. For the year, the company has revised revenue generation down 6…
Mitsui O.S.K. Lines, Ltd. upgraded its CX1 feeder service between Panama and Manaus and the beginning of independent operation on the route. The move will provide additional space on this rapidly growing trade with four 1,700 TEU ships and stabilize the schedule to boost service quality…
