The Baltic Exchange's main sea freight index slipped to its lowest level in nearly six months on Monday, weighed down by falling rates in all vessel segments.The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels…
Diana Containerships Inc. announced that, through a separate wholly-owned subsidiary, it has agreed to extend the present time charter contract with Hapag-Lloyd AG, Hamburg, for one of its Panamax container vessels, Sagitta. The Sagitta is a 3…
Wolfgang Freese, President Region North America, will be retiring after almost five decades with Hapag-Lloyd. Freese began his career in the shipping company in 1971 with an apprenticeship to become a shipping agent. In recent decades…
Beginning in April, Hamburg Süd is launching a new service network between Asia and South America West Coast, Mexico, Central America and the Caribbean.Concealed behind the service names ASPA and ASCA will then be a completely new product…
Egypt's United Arab Stevedoring Co. reported a H1 net loss after tax of EGP 13.7 million ($775,000) versus a loss of EGP 12.8 million ($724,000) a year ago.The company’s H1 revenue was EGP 7.6 million ($430,000) versus EGP 5.3 million ($300,000) a year ago.
German liner shipping company Hapag-Lloyd is sending seven older container ships to be recycled in Turkey and China. The respective shipyards are especially equipped and certified to recycle ships in an environmentally friendly manner…
APM Terminals Pipavav (Gujarat Pipavav Port Ltd), has announced its financial results for the third quarter ended December 31, 2017.The company reported a net profit of INR 500 million ($7.8 mln) for Q3FY18 as against INR 645 million ($10 mln) in Q3FY17…
Cosco Shipping Holdings Co Ltd says it expects net profit of about 2.7 billion yuan in 20117 versus net loss of 9.9 billion yuan a year ago. (Reporting by Hong Kong newsroom)
Ocean carrier Hapag-Lloyd will commence a new weekly service between the Port of Jeddah and the east coast of Africa in April. With the East Africa Service (EAS), the liner shipping company will be calling at the ports of Mombasa (Kenya) and Dar es Salaam (Tanzania) for the first time…
Bharat Mumbai Container Terminals Private Limited (BMCT) said it received its first container arriving by road during a gate opening ceremony officiated by Vivek Johri (IRS), Chief Commissioner Customs, Jawaharlal Nehru Customs House. The container will be loaded on CMA-CGM’s vessel Centaurus…
U.S. ocean carrier TOTE said its plans to enter the domestic Hawaiian trade have been derailed by the scope and timing of infrastructure upgrades that would be required to accommodate the new service.TOTE had been earmarked access to Honolulu…
French shipping group CMA CGM said it has taken delivery of its new flagship, the first in a series of three new 20,600 TEU containerships. The French flagged CMA CGM Antoine De Saint Exupery will enter into service on February 6 on the FAL 1 service (French Asia Line 1)…
South Korea's Hyundai Merchant Marine (HMM) announced that it started its first ‘Ultra-Freezer’ service from Busan, Korea to Barcelona, Spain, based on its rich experience in the high-tech reefer container service. Ultra-freezer service refers to transportation of goods in – 60ºC…
Greek owner and operator of dry bulk and container vessels Navios Maritime Partners has agreed to acquire two 2006-built Panamax vessels with a capacity of approximately 74,500 dwt each, for a total purchase price of USD 22 million. The…
Reefer trades have something of a reputation for volatility both in terms of volumes and freight rates, yet Drewry’s Global Reefer Freight Rate Index has recorded only increases over the last 12 months, even during off-peak seasons. “The recent wave of carrier consolidation…
