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Sunday, April 21, 2019

Hapag Lloyd News

Pic: Maersk Line

Digital Container Shipping Association Formed

Four container shipping giants -  AP Moller-Maersk, Hapag-Lloyd, MSC and ONE - have jointly established Digital Container Shipping Association (DCSA)  in The Netherlands to drive standardisation, digitalisation and interoperability in the industry.Industry veterans form leadership team, with Thomas Bagge appointed as CEO, said a press release from Hapag-Lloyd.After gaining regulatory approval from the Federal Maritime Commission (FMC) last month, four container shipping companies officially established the Digital Container Shipping Association (DCSA) on April 12…

Pic: Hapag-Lloyd

Hapag-Lloyd Mulls Better Performance in 2019

German ocean carrier Hapag-Lloyd expects solid growth in 2019, according to the annual report for 2018 in which the the international container shipping line reports improved earnings.Rolf Habben Jansen, Chief Executive Officer of Hapag-Lloyd said: "While our business is and will remain cyclical, market conditions have gradually improved for liner shipping companies over the last few years. Our course for the next few years is set and our objectives for 2019 are clear: Improve earnings…

file Image: CREDIT Hapag Lloyd

Hapag-Lloyd: Sees Strong 2019 Earnings

German container liner Hapag-Lloyd sees itself on a promising course to achieve better results and further reduce debts as it cuts costs, benefits from merger synergies and finds itself in an improving shipping industry environment."We see fairly stable demand growth and the fundamentals are favorable," said Chief Executive Rolf Habben Jansen in a call with analysts on Friday."This will enable us to deliver on our goals for 2019," he added.Earlier, the company had reported an increase in operating profit before interest and tax (EBIT) of 7.8 percent to 443 million euros ($500.37 million) in 20

Pic: XVELA

Hapag-Lloyd Collaborates with XVELA

German-based global cargo container shipping line, Hapag-Lloyd AG Hapag-Lloyd set to implement XVELA’s collaboration services to increase transparency throughout the transportation supply chain and more efficiently employ assets and resources.A press release from XVELA, the world’s first maritime business network for ocean carriers and terminal operators, said that both companies plan to initiate the global rollout on one of Hapag Lloyd’s premier Latin American services and will continue to broaden throughout its terminal partners.

Map: Hapag-Lloyd

Hapag-Lloyd Begins TNE Service

German-based cargo container shipping line Hapag-Lloyd AG is launching a new liner service offering a direct connection between Turkey and the US East Coast.The Turkey North America East Coast (TNE) service will operate every nine days between the Turkish seaport of Marmara (Izmit, Istanbul and Gemlik) and the US ports of New York, Norfolk and Savannah, said a press release from the world's fifth largest container carrier in terms of vessel capacity.In addition, the service will…

Pic: Global Ship Lease

GSL Extends Hapag-Lloyd Charter

Marshall Islands-incorporated  containership charter owner Global Ship Lease (GSL) has agreed a three-year charter with Hapag-Lloyd for the 2015-built, 9,115 TEU containership UASC Al Khor.The new charter is in direct continuation of the current charter and is expected to commence in June, 2019, with re-delivery in the second quarter 2022, said the owner of containerships with a diversified fleet of mid-sized and smaller containerships.The charter is expected to generate approximately $28 million of Adjusted EBITDA.Ian Webber…

Hapag-Lloyd: Expedition Fleet to Cruise Without Heavy Oil

Together with the introduction of new expedition cruise catalogues for the 2020-2021 season. Hapag-Lloyd Cruises has also announced that low-pollutant marine gas oil (MGO) will be used exclusively on all routes sailed by its expedition ships in the fleet - the HANSEATIC nature, the HANSEATIC inspiration and the BREMEN from July 2020. Joining the fleet in 2021, the HANSEATIC spirit will also use this fuel.The use of low-sulphur fuels in the Antarctic has been mandatory for several years and already Hapag-Lloyd Cruises uses marine gas oil voluntarily in other sensitive regions…

Pictured here, the ‘Sajir’ whose 9S90ME-C main engine will be converted to a dual-fuel MAN B&W ME-GI unit capable of running on HFO and LNG (Photo courtesy of MAN Energy Solutions)

First Mega-Boxship Retrofit to LNG Ordered

Hapag-Lloyd pilot gas-conversion leads the way for emissions reduction and decarbonizationMAN Energy Solutions has signed a contract for the conversion of a 15,000 TEU container vessel to dual-fuel operation. The container vessel MV SAJIR is owned by Hapag-Lloyd, a leading liner shipping companies, and normally serves a route from Asia to northern Europe via the Suez canal. The pilot project will entail the conversion of an existing, HFO-burning MAN B&W 9S90ME-C engine to a dual-fuel MAN B&W ME-GI (-Gas Injection) prime mover capable of running on HFO and LNG.

Pic: Hapag-Lloyd

Hapag-Lloyd: 50th Year of Transportation of Dangerous Goods

Hapag-Lloyd, the world's largest shipping company, marks 50th anniversary of dangerous goods department.According to a press release from the transnational German-based transportation company, 50 years ago, in March 1969, Hapag and Norddeutscher Lloyd set up a mutual Dangerous Goods department and became the first shipping lines with a dedicated team for safety and security on board and on land.When the companies merged in September 1970, and became Hapag-Lloyd, the safe transportation of Dangerous Goods was already an important market segment for the new shipping line…

file Image / CREDIT Hapag-Lloyd

Hapag-Lloyd: U.S. Probe Ends with no Obligations

Germany's Hapag-Lloyd is cleared of a U.S. Department of Justice probe into the practices of container shipping companies, with no charges brought, a spokesman said on Tuesday."Hapag-Lloyd was informed that the U.S. Department of Justice, Antitrust Division is closing its investigation without charges against the company, its affiliates or any other current or former employees," he said.This followed similar statements by bigger rivals Maersk and Mediterranean Shipping Company…

File Image: CREDIT Hapag Lloyd

Shipping Recovery Boosts Hapag-Lloyd's Earnings

Full-year operating profit up by 32 percent.Container shipping firm Hapag-Lloyd said volume growth and a modest recovery in freight rates in the second half of 2018 helped push operating profit 32 percent higher, lifting shares in the German group on Monday.Hapag-Lloyd said preliminary earnings showed operating profit before interest and tax (EBIT) rose 32 percent to 443 million euros ($502.81 million) in 2018, while earnings before interest, taxes, depreciation and amortisation (EBITDA) increased 83 percent to 1.138 million euros.

Image by Hapag-Lloyd Cruises

Hapag-Lloyd: Digital Learning Onboard

Hapag-Lloyd Cruises is introducing a new user-friendly concept for digital learning that is new to the expedition ship world, as the Hanseatic Nature, Inspiration and Spirit will feature an innovative touch wall when they launch.The study wall will measure 6 meters by 1.8 meters, allowing guests to research complex topics and background information about their cruise destinations.Hapag-Lloyd Cruises has been developing this concept for around two and a half years, in partnership…

Pic: Hapag-Lloyd

Hapag-Lloyd Gets Ratings Upgrade from Moody's

The international rating agency Moody’s has upgraded the German cargo container shipping line, Hapag-Lloyd AG's corporate family rating (CFR) to B1 from B2 and its senior unsecured bond rating to B3 from Caa1. The outlook remains stable.According to Moody's release, the improved rating acknowledges Hapag-Lloyd’s progress in integrating United Arab Shipping Company Limited (UASC) while reducing leverage and generating positive free cash flow on the back of tight cost management and increased efficiencies…

Rolf Habben Jansen (Photo: Hapag-Lloyd)

Hapag Lloyd CEO: Trade Spats Could Dampen Shipping Growth

An escalation of tariff wars between China and the United States could dampen growth in international container shipping as operators pre-emptively brought forward business in the second half of last year, Germany's Hapag Lloyd said."Many customers tried to get their goods through to the U.S. ahead of time in second half 2018, creating additional growth," Rolf Habben Jansen, chief executive of the company that is the world's fifth biggest shipping liner, told reporters in Hamburg on Tuesday."That points to some business having been brought forward…

Pic: Hapag-Lloyd

Hapag-Lloyd Redeems Bond Early

German-based container shipping line Hapag-Lloyd AG has decided to partially redeem EUR 170 million of its senior note on 11 February 2019 and prior to its maturity 2022 at a fixed redemption price of 103.375 percent.According to a press release from the transportation company, the senior note was issued in February 2017 with an aggregate principal amount of EUR 450 million. The annual coupon is 6.75 percent."This partial redemption will be done from cash proceeds, predominantly…

Pic: CXIC Group

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…

Hapag-Lloyd to Convert Containership to LNG

As the maritime industry increasingly searches for means to reduce emissions in the face of legislative mandate, from Germany comes news of a unique 'world first' project to convert the 15,000 TEU containership Sajir to LNG, resulting in an estimated reduction of CO2 emissions from 15 to 30 percent.While the use of LNG as fuel in the commercial newbuild ship sector continues to gain traction, the refit of existing ships to LNG has been slower in developing, owed mainly to the…

Maximilian Rothkopf. Pic: Hapag-Lloyd

Hapag-Lloyd Names Rothkopf COO

Hapag-Lloyd has announced that Maximilian Rothkopf  is to be its new chief operating officer (COO). He will take over as new COO of Hapag-Lloyd when Anthony J. Firmin retires in late June.Maximilian Rothkopf, who holds a master's degree as well as a doctorate in business administration, has been a Partner since 2014 at McKinsey & Company, where he has been a member of the global Travel, Transport and Logistics (TTL) leadership team. He started his career in 2005 at the management consulting firm…

Pic: Hapag-Lloyd

Hapag-Lloyd on Ship Recycling Transparency Initiative

Ships are often disassembled on beaches by people who don’t wear any protective clothing or take any other safety precautions. One reason for this is that there still aren’t any globally agreed standards that shipping companies must adhere to, said a report by Hapag-Lloyd.In 2017, 835 ships of the global fleet of 50,000 vessels were recycled – but in very different ways. In December 2018, the Ship Recycling Transparency Initiative (SRTI) launched an online platform to draw attention to these practices and…

File photo of the Yantian Express (Photo: Hapag Lloyd)

Containership Ablaze Off Canada's East Coast

German shipping line Hapag Lloyd said on Friday that it was trying to extinguish a fire on its Yantian Express container vessel off Canada's east coast but was being hampered by bad weather.A spokesman for Hapag Lloyd said the fire broke out on Thursday in a container on deck and spread to some other containers on the vessel, but the cause was not yet known.The 7,519 twenty foot equivalent ship was on its way from Colombo, Sri Lanka to Halifax in Nova Scotia via the Suez Canal…

File photo of the Yantian Express (Photo: Hapag Lloyd)

Crew Evacuates from Burning Box Ship off Canada

The German shipping line Hapag Lloyd said on Sunday it had evacuated the crew from its container ship, the Yantian Express, off Canada's east coast after a fire spread."Due to bad weather conditions, the fire has not been successfully contained yet and has significantly increased in intensity at times," the firm said in a statement on Sunday."For this reason, a decision was made to evacuate the crew. The complete crew is unharmed."Hapag Lloyd had said on Friday that it was trying to extinguish the fire.(Reporting by Edward Taylor; Editing by Kevin Liffey)

Graphic: Freightos

Weekly Freightos Baltic Index Update

Highlights of the Freightos Weekly Baltic Index Report ...Just as the January 1 GRIs were losing traction, the mid-month round lifted transpacific prices back up again. The net impact was a 4% week on week rise for both lanes. China-West Coast went up from $2,031 to $2,110, and China-East Cost went up from $3,171 to $3,292.Having lost ground following January 1’s GRIs, the mid-month GRI picked up transpacific prices again. The net effect of dipping, then rising prices last week…

Pic: Verbrugge Terminals

North Sea Port Receives the First Ship Balao

The ship Balao docked at Verbrugge Terminals in Vlissingen, in North Sea Port, carrying a cargo of fruit. This was the first ship to arrive as part of this logistical service provider's first permanent intercontinental shipping line.The ship was carrying fruit such as bananas and pineapple, among other things. In this line, goods will be loaded in Cartagena and Santa Marta, Colombia and in Puerto Limón, Costa Rica. From South America, the ships will then sail to the European ports of London…

Photo: Optimarin

Optimarin Sees Early Order Surge in 2019

In the quarter of a century since its formation in 1994, ballast water treatment (BWT) specialist Optimarin has never experienced a year quite like 2018.The Norwegian headquartered firm has revealed that the previous 12 months saw it sell more than 100 systems and achieve record revenues. However, according to company CEO Tore Andersen, 2019 is already shaping up to set a new standard, with the orderbook currently five times the size it was at this point in 2018. Revenues, he says…

Image: NGO Shipbreaking Platform

744 Ships Scrapped in 2018

744 large ocean-going commercial vessels were sold to the scrap yards in 2018, out of which 518 were broken down on South Asia beaches, accounting for a record-breaking 90.4% of the gross tonnage dismantled globally.According to new data released by the NGO Shipbreaking Platform,  at least 34 workers lost their lives when breaking apart the global fleet. The Platform documented at least 14 workers that died in Alang, making 2018 one of one of the worse years for Indian yards in…

Photo: Port of Boston

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.