Samskip’s UK Investments Transcend Brexit Disruption
Two years of pre-Brexit investment in North Sea container shipping services is proving decisive in winning shippers away from cross-Channel ferry routes at a critical time for UK-EU relations, according to leading multimodal operator Samskip.With many questions remaining over the exact nature of the future EU-UK trading relationship, Samskip says that regular, reliable and cost competitive container services are a key element in planning for the future.“The months ahead will see…
Transmar Eyes Growth from Adabiya Port
Egyptian container shipping line Transmar said it has leveraged the Port of Adabiya in an effort to strengthen its presence across Middle East and East African routes.With a growing interest in container services and a recovery in the Egyptian economy, Transmar sees the port as the focal point of its operations to service its UAE, Saudi Arabian and East African clients thanks to its location and facilities, which include a free zone area of about 62 feddans overlooking Suez bay coast. It is also the key port for palm oil imports into Egypt.
Sinokor, Heung-A Integrate Shipping Operations
South Korean shipowners Heung-A Shipping and Sinokor Merchant Marine have confirmed that they are in talks to merge their container businesses, reports Pulse News. According to various media reports, the South Korean liner companies have decided to merge their container shipping services by the end of the year before joining forces with Hyundai Merchant Marine (HMM). HMM had already agreed to become a strategic partner to Sinokor and Heung-A by creating an HMM+K2 consortium. The two companies would sign the deal on April 3…
CMA CGM Builds up South American Presence
Following its move to acquire MERCOSUL from Maersk Line, the CMA CGM group has furthered its development strategy in South America by reshuffling its container shipping services between the East Coast of South America and Europe with North of Europe and the Mediterranean. SAFRAN will start in Rotterdam on September 27, 2017, calling at the ports of Rotterdam / London / Hamburg / Antwerp / Le Havre / Algeciras / Santos / Paranagua / Buenos Aires / Montevideo / Itapoa / Paranagua / Santos / Pecem / Tangier.
Container Shipping Demand Remains Good: Hapag-Lloyd
In the medium term, demand for container shipping services should continue to rise in tandem with expected ongoing growth in global trading volume, says Hapag-Lloyd. As a result, the container shipping industry’s medium-term growth prospects remain intact, says the company in its investor outlook for 2017. In its latest economic outlook (April 2017), the International Monetary Fund (IMF) expects global economic growth to reach 3.5% in the current year. This forecast means that the global economy is set to grow at a slightly faster rate in 2017 than in the previous year (+3.1%).
Maersk Gains Approval for Hamburg Sud Takeover
World No. 1 shipping company Maersk Line gained EU antitrust approval on Monday for its acquisition of Hamburg Sud (HSDG) after agreeing to pull the German company out from five consortia on trade routes to address competition concerns. The bid by Maersk, part of Denmark's A.P. Moller-Maersk , underscores the wave of mergers in an industry struggling with over-capacity and slowing global trade. Hamburg Sud will withdraw from the consortia on trade routes connecting northern Europe to central America…
Overcapacity Catches Box Ship Industry in Undertow
All signs point to a continuation of struggling theme for containerized-ocean-freight industry into 2016 and beyond, warns a study by AlixPartners. The containerized-ocean-freight industry suffered in 2015. Its continuing financial woes accelerated because nearly all key financial indicators declined from 2014. At the heart of the industry’s problems, a persistent global supply-and-demand imbalance is to blame. All signs point to a continuation of that theme into 2016 and beyond.
Simatech Begins Coastal Shipping Service in India
Sima Marine, a subsidiary of Dubai-based Simatech Shipping, one of the largest container feeder servicing companies in the world operating 54 ships, has launched coastal container shipping services in India. The coastal container shipping service will operate from Kochi connecting Mangalore in Karnataka, Goa and Mundra in Gujarat. Simatech Shipping is one of the largest container feeder servicing companies in the world operating 54 ships with partners, including 15 of its own.
Coscocs Targets 2 Mln TEUs by 2018
China's biggest shipping line China Ocean Shipping Corporation (Coscocs) has revealed an ambitious plan to increase its container shipping capacity to hit a 2 million TEUs over the next three years, says China Daily. The company is raising the operational capacity in an effort to seize a larger slice of the cake, known as the East-West and South-North routes. Wan Min, general manager of China COSCO Shipping, said Chinese shipping companies mainly operate container shipping services on Asia-Africa and China-Southeast shipping lines…
China Shipping Merger Erases $900 mln in Market Value
Shares of Cosco Group and China Shipping have taken a hammering on the stock markets as two major companies lost about $900 million in total market value after the government proposed combining its two key ocean liner groups, reports Bloomberg. China’s shipping giants led the declines with drops of as much as 30 percent, the most on an intraday basis in more than 10 years. The shares had been halted from trading since August pending an announcement by their parent companies.
China Shipping Service to Moldova
China Shipping Group has launched container shipping services in Moldova, becoming thus the second foreign companies to have the operation in the country's only port of Giurgiulesti. The hub is vital for Moldova as its economy suffers as a result of the Russian embargo on Moldovan goods. The decision of Chine Shipping Container Lines to expand its services to Moldova is part of the Chinese government’s initiative to revive the ancient Silk Road via its Silk Road Economic Belt and 21st Century Maritime Silk Road projects.
Langh Ship Elects New Managing Director
Oy Langh Ship Ab will receive a new managing director at the turn of the year, when the current managing director, Hans Langh, takes over as Chairman of the Board for the shipping company. Laura Langh-Lagerlöf has been elected as the company’s new managing director, effective January 1, 2015. The shipping company’s current Chairman of the Board, Tom Niemi (MSc Tech, chemical engineering), thanks Hans Langh for his more than 30 years of leadership with the company: “Hans has successfully steered the company through many storms.
“Intra-Mediterranean Container Trades” Update
Dynamar has published “INTRA-MEDITERRANEAN CONTAINER TRADES”, the latest report in its Container Trades and Markets series. Salient details and interesting findings of the new report are discussed here below. Intra-Mediterranean (2014) Container Trades is all about the 170 services operated by 40 different shipping companies deploying 275 container, Ro/Ro and multipurpose ships with container capacities of 400 to 3,000 TEU that populate the intra and coastal all Mediterranean waters.