Conley Box Terminal Breaks TEU Record Again
The Port of Boston’s Paul W. Conley Container Terminal set a new all-time record in 2018 for volume for the fourth year in a row. The Port of Boston is the main artery of Massachusetts’ consumer economy, with imports and exports serving as vital catalysts for growth, investment and opportunity. More than 1,600 businesses across New England use the Port of Boston for importing and exporting goods.Conley Terminal handled 298,036 TEUs during 2018, serving as an efficient alternative to other U.S. East Coast ports for New England cargo.
Container Market Grows at 8.6%
The Global International Orginization for Standardization (ISO) Shipping Container Market is growing at a CAGR of 8.6% during 2017-2026, said a report.According to Stratistics MRC, growth of seaborne trade, growing demand for commodities and rising industrial expansion in China are the key driving factors for the market growth.However, factors such as the effect on the environment and fluctuating raw material prices are hindering the market growth, the market research report said.ISO container is any type of shipping container which is designed…
Taiwan's Evergreen Opens Four New Offices in Latin America
Taiwanese container transportation and shipping company Evergreen Marine Corp. is expanding its operations into Central and South America this year following the recent opening of four new agency offices in the region."In view of the growth potential in Latin American trade, Evergreen Line is continuing to establish its own offices at main service locations in the region. The move will strengthen the effectiveness of the line’s operations, improve its capability to react to market opportunities…
Global Shipping Business Network on Blockchain Platform Launched
Nine leading ocean carriers and terminal operators today signed a formal statement of intent for a Memorandum of Understanding (MOU) to form a consortium to develop the Global Shipping Business Network (GSBN), an open digital platform based on distributed ledger technology.According to a statement, the participants include COSCO Shipping Lines, CMA CGM, Evergreen Marine, OOCL, Yang Ming, DP World, Hutchison Ports, PSA International and Shanghai International Port, as well as software…
Evergreen Group Celebrates 50th Anniversary
Evergreen Group celebrated its 50th Anniversary at the Chang Yung-Fa Foundation, home of the charity set-up by Evergreen Group Founder and Chairman Dr. Y.F. Chang, said a press release from the company.In addition to senior executives and employees of the Group’s businesses, the event was also attended by public officials, customers and business agents from both the shipping and airline industries as well as representatives of supply chain partners from more than fifty countries.The…
INTTRA Expands Carrier Network
INTTRA announced significant growth in its carrier network with the recent addition of four new carriers, including Evergreen Marine Corporation, one of the largest container fleets in the world. The continuing growth of INTTRA's carrier network signals the rapid adoption of digitalization across the industry. More than 60 carriers, including all of the top 10, are INTTRA customers. "2017 was a tremendous year for INTTRA, with container orders growing by 12%, and the company processing 45 million container orders on its platform," said John Fay, CEO of INTTRA.
INTTRA Grows Container Orders to 45 Million
INTTRA, a neutral electronic transaction platform, software and information provider at the center of the ocean shipping industry, today announced significant growth in its carrier network with the recent addition of four new carriers, including Evergreen Marine Corporation, one of the largest container fleets in the world. The continuing growth of INTTRA's carrier network signals the rapid adoption of digitalization across the industry. More than 60 carriers, including all of the top 10, are INTTRA customers*.
Evergreen Charters Twelve 11,000 TEU Newbuilds
Evergreen Marine Corp. (EMC) entered into an agreement with Shoei Kisen Kaisha to charter twelve 11,000 TEU class containerships. The charter parties were signed by EMC Chairman Anchor Chang and President of Shoei Kisen Kaisha Yukito Higaki. The plans to charter these vessels were approved early last month at the board meetings of Greencompass Marine S.A. and Evergreen Marine (Hong Kong) Ltd. respectively. The two subsidiaries of EMC will each charter six vessels. All twelve ships…
Evergreen Orders Eight 11,000 TEU Containerships
Evergreen Marine Corp. (EMC) said it has entered into an agreement with South Korean shipbuilder Samsung Heavy Industries (SHI) to order eight 11,000 TEU containerships. Four ships will be owned by EMC’s subsidiary, Greencompass Marine S.A. and a further four by Evergreen Marine (Hong Kong) Ltd. The newbuildings are planned to be delivered from the first quarter of 2020 through the second quarter of 2021. EMC said the newbuilding program will help it meet future market demand as the carrier continues its ongoing fleet renewal.
Norway SWF Dumps 3 Shipping Firms
The Norwegian Central Bank has decided to exclude ship owners Evergreen Marine Corporation, Precious Shipping, Korea Line Corporation and Thorensen Thai Agencies from the Government Pension Fund Global (GPFG). The exclusion is based on the companies’ poor management of their end-of-life ships and the sale of these for dirty and dangerous shipbreaking on the beaches of Gadani, Pakistan and Chittagong, Bangladesh. The Norwegian Council on Ethics directs the Norwegian Central Bank…
Container Lines to Cut Terminal Cost in China
Eleven container liner transportation companies have promised to cut or standardize the Terminal Handling Charges (THC) in order to lower nearly 3.5 billion yuan burden of export enterprises each year, according to National Development and Reform Commission (NDRC). According to a report in Shanghai Daily, the shipping companies include China COSCO Shipping Cooperation, Maersk line, Mediterranean shipping, Hapag-Lloyd AG, Evergreen Marine, Hyundai Merchant Marine, Nippon Yusen Kaisha, Mitsui OSK Lines, Sinotrans Shipping.
Evergreen Names Tsai President of North America Agency
Benjamin Tsai, previously serving as Chief Executive Vice President, has been appointed President of Evergreen Shipping Agency (America) Corporation, North America General Agents for global ocean carrier Evergreen Line. Roy Amalfitano, President for the last five years, has been promoted to Vice Chairman. The promotions were announced by Mr. Lawrence Lee, President of Evergreen Marine Corp. (Taipei). "Both Benjamin and Roy have successfully led EGA through some challenging times for the maritime industry in general," said Mr. Lee. Mr.
Evergreen Group Chairman Dies at 88
Evergreen Group founder and Group Chairman Dr. Yung-Fa Chang passed away at the age of 88 in Taipei on January 20, 2016. Dr. Chang was born in 1927. He founded Evergreen Marine Corporation in 1968 with just one secondhand general cargo vessel, and by 1985, the company had become the world's largest container shipping line. In 1989 he established EVA Air, extending his global business empire from shipping to airline and land transportation. Dr. Chang devoted much of his efforts to charity and social welfare, primarily through the Chang Yung-Fa Foundation.
Evergreen May Turn Around
Evergreen Marine Corp, which has been battered by falling freight rates due to a prolonged supply glut, may swing into profit this year as market conditions improve in the global shipping industry, reports Taipei Times. The paper quoted Capital Investment Management Corp as saying that Evergreen is expected to post profit of NT$689 million (US$22 million) for this year, compared with an estimated loss of NT$5.65 billion for last year. Signs the container shipping industry had bottomed out gradually surfaced toward the end of last year…
Taiwan President Honors Evergreen Founder
Taiwan President Ma Ying-jeou honored Evergreen Group founder Dr. Chang Yung-Fa with a posthumous commendation in recognition of his contributions to international transportation and social welfare during the memorial service today. The company's North America headquarters are in Jersey City, N.J. Taiwan's Education Minister and the Minister of Transportation and Communications also offered homage to Dr. Chang with the First-Class Professional Education Medal and First-Class Professional Transportation Medal. Evergreen Group is holding the memorial services for Dr.
Shipping Firms Poised to Settle EU Probe
Fifteen container liner shipping companies "have offered to change their pricing practices to settle an EU antitrust probe and stave off possible fines," according to a report from Reuters Wednesday that cites two unnamed sources. Container carriers have offered to publish binding actual rates a month before they go into effect, according to the report from. The report said the European Commission would not confirm the development, but that it could change the practice of shipping companies announcing planned general rate increases. World No.
Succession Fight for Evergreen Heats Up
The feud among the scions of late billionaire Evergreen Group founder Chang Yung-fa's family boiled to the surface, reports local Taiwanese media. The struggle between the heirs to Evergreen Group has escalated as the three older brothers reportedly took drastic measures to undermine their younger brother’s accession to the helm of the family-run shipping and transportation empire. Evergreen Group founder Chang Yung-fa died on Jan. 20 and left a December 2014 will that named his youngest son…
Consolidations to Reshape Ship Alliances
Several of the world’s top container lines are entering in different vessel-sharing alliances following the current wave of mergers and acquisitions among carriers, reports China Daily. There has been reports that had shocked the containership transport industry - the possible mega-alliance between French liner CMA CGM and China Cosco Shipping (COSCOCS), the recently merged China’s biggest shipping line. Formed by Denmark's Maersk Line and Switzerland's Mediterranean Shipping Co SA…
Chang Leaves Evergreen
Evergreen Marine Corporation said that Chang Kuo-wei, the late founder's son, was no longer on its board of directors, reports local media. Chang's seat on its board of directors will be filled by Hsieh Huey-chuan. According to observers, the Chang Kuo-wei faced the latest setback in his losing war of succession when he left the board of Evergreen International Storage & Transport Corp. Evergreen International Storage, one of Evergreen Group’s publicly traded businesses, announced a reassignment of its corporate directors and supervisors.
China Cosco Shipping to Maintain Alliances until Expiry
China Cosco Shipping plans to retain its current container alliances until they expire, after which it plans to sign a new deal, it said on Monday. The group's spokesman, Yu Zenggang, did not say when the current alliance agreements were due to expire. China COSCO , a unit of COSCO, is part of the CKYHE alliance with Kawasaki Kisen Kaisha, Yang Ming Marine Transport, Hanjin Shipping and Evergreen Marine, while China Shipping Container Lines , a unit of China Shipping Group, CMA CGM CMACG.UL and United Arab Shipping Co make up the Ocean Three alliance.
Optimarin Reports Surge in BWTS Orders
With its latest succession of contracts won, ballast water treatment (BWT) specialist Optimarin reports it has now sold more than 400 of its environmentally friendly UV-based systems. Optimarin said 2016 has been a boom year for a company that installed the first ever commercial BWT system back in 2000. Optimarin Ballast System (OBS) orders have been confirmed with Atlantis Tankers (10 units) and Sinopacific Shipbuilding Group (nine), while the firm also made its first foray into fishing, with a contract for the Fisherman’s Finest vessel America’s Finest.
EU to Accept Antitrust Offer from Maersk, MSC, 13 Others
World No.1 container liner Maersk, Swiss peer MSC and 13 other shipping firms are set to escape possible penalties as EU antitrust regulators plan to accept their offer to end a five-year probe, three people familiar with the matter said on Tuesday. The European Commission is likely to announce its decision next month, which means no fine or finding of wrongdoing against the companies, the sources said. Commission spokesman Ricardo Cardoso declined to comment. The case, which focuses on the way the companies announce price increases…
EU Accepts Antitrust Concessions from Maersk, MSC, Others
EU antitrust regulators accepted on Thursday an offer from Maersk, the world's largest container shipping liner, and 13 other competitors to change their pricing practices. The companies agreed to publish binding actual rates 31 days before they go into effect, with the figures acting as a price ceiling. Under the current system, they only publish the amount of the increase, not the final price. The other 13 firms are No.2 player MSC, No. 3 CMA CGM, Germany's Hapag Lloyd and Hamburg Sud…
Taiwan’s Evergreen Resume Traffic in Iran's Shahid Rajaee Port
Taiwan’s Evergreen Marine Corp. has authorized one of its huge container ships to berth at Shahid Rajaei port in southern Iranian province of Hormozgan, reports Press TV. Ebrahim Idani, director general of Hormozgan Ports and Maritime Department, was quoted by Iranian media as saying on Tuesday that the fifth-generation container ship, Ever Legion, has started its journey from China’s Shanghai port and will call at various ports in Hong Kong, Taiwan, Malaysia, Sri Lanka, and the United Arab Emirates’ Jebel Ali Free Zone before berthing at Shahid Rajaei port…
Drewry Finds Risk of Carrier Failure Still High
Drewry’s Z-score carrier financial stress index sunk to its lowest ever point following the first-half 2016 results. After Hanjin’s bankruptcy shippers are demanding more financial transparency from carriers. There is still much work to be done to clean up the logistical chaos created by Hanjin’s bankruptcy, but even so there are lessons from the sorry mess that need to be learned to avoid a repeat occurring. Firstly, all stakeholders must understand that no carrier is too big to fail. The hitherto expectation that some white knight would rescue an ailing carrier has been erased forever.
OCEAN Alliance Gains US Approval
The proposed OCEAN Alliance between several of the world’s largest container shippers has received approval from the U.S. Federal Maritime Commission (FMC), allowing it to become effective Monday, October 24, 2016. The OCEAN Alliance, comprising COSCO Shipping, CMA CGM, Evergreen Marine and Orient Overseas Container Line Limited (OOCL), was subject to an exhaustive FMC review process by that thoroughly examined all aspects of the proposed agreement to assure that competition in the ocean transportation industry would not suffer.