Alliances could raise competition concerns in what has become a concentrated market, according to ITF-OECD.
Container shipping
iContainers Warns All Cargo Agents To Pay Extra Attention To Shipments Involving Switch Bills Of Lading
100% online freight forwarder iContainers is warning all cargo agents to pay extra attention to shipments involving switch bills of lading. The comes amid an increase in fraud cases involving switch bills in recent months. The WCA, the largest network of freight forwarders in the world, has sent emails to its members to advise them of the possibility of fraud cases related to switch bills of lading. The association also indicated it was distancing itself from business related to these bills and...
Global Ship Lease Enters Strategic Merger With Poseidon Containers
Global Ship Lease, Inc. (“GSL” or the “Company”), Poseidon Containers Holdings LLC and K&T Marine LLC (together “Poseidon Containers”) announced that they have entered into a definitive merger agreement for a stock-for-stock transaction representing a total transaction value of over $780 million on an asset value basis to create a leading containership charter owner focused on mid-sized and smaller vessels. The combined company will have a fleet of 38 vessels with a total capacity of 198,793...
HMM Aims Of Building Up Its Capacity To 100 Million TEUs By 2022
On October 26, HMM HQ employees gathered in the Seoul office to hear CEO C.K. Yoo’s presentation on HMM’s blueprint for the year 2022. Mr. Yoo presented HMM’s target of building up its capacity to 100 million TEUs and posting US$10 billion in annual revenue by 2022.
Image Credits: hmm21.com
HMM recently ordered twelve 23,000 TEU and eight 15,000 TEU eco-friendly mega vessels in preparation for the IMO’s sulfur regulations starting from 2022, and to secure competitiveness through economies of...
France’s CMA CGM Offers to Buy Out Other Ceva Shareholders
By Gus Trompiz and Sudip Kar-Gupta PARIS/ZURICH, Oct 25 (Reuters) – French shipping group CMA CGM will offer to buy out other shareholders of Ceva Logistics in a move to reinforce its partnership with the Swiss transport company, possibly resulting in it gaining majority control. CMA CGM, which...
CMA CGM and SHONE capture SHIPPINGInsight Innovative Technology Award
l to r: Jim Rhodes, Balentin Perret, Clément Renault, Frank Soccoli, and Carleen Lyden Walker
Award Presented at 7th SHIPPINGInsight Fleet Optimization & Innovation Conference
STAMFORD, Conn. – Oct. 17, 2018 – The prestigious SHIPPINGInsight Award for 2018 was presented today to CMA CGM Group and Shone Automation for an artificial intelligence pilot program for bridge operations at the 7th Fleet Optimization & Innovation Conference in Stamford, Connecticut.
The award is presented annually to honor...
Long standing Chinese relationship pays off as major shipping line announces Liverpool call
Aerial view of Liverpool
The Port of Liverpool has demonstrated the strength of its relationships with China by announcing it will welcome a vessel call from COSCO on Wednesday 17 October.
The MV Jork will call at Liverpool after a stop in Rotterdam before returning with UK exports. Once in Liverpool it will unload mainly high value Asian goods for fast delivery into the supply chain across the UK.
The Port of Liverpool boasts a consistent truck turnaround time of less than 40 minutes, unrivalled...
MOL Succeeds With Trial Of Remote Container Tracking Management Device
Mitsui O.S.K. Lines, Ltd. (MOL) announced that its group company MOL Consolidation Service (MCS) has successfully completed the trial transport of containers equipped with a remote container tracking management device on railway routes connecting China and Europe.
This device, by mounting inside the container, makes it possible to monitor cargo in transport using various equipment such as GPS, a temperature gauge, and an optical sensor.
Characteristics of the device
1. Information on the cargo...
Hapag-Lloyd to Introduce IMO 2020 Fuel Surcharges from 2019
FRANKFURT, Oct 8 (Reuters) – German container shipping giant Hapag-Lloyd said on Monday it is preparing customers for a mechanism to charge more for cleaner fuel starting next year to comply with tighter environmental rules. The Hamburg-based firm said on Monday that it has developed what it will...
Container Carriers Sail Towards a Tipping Point of Ocean Freight Rates and Fuel
By Mike Wackett (The Loadstar) – The bellwether Shanghai Container Freight Index (SCFI) did not publish on Monday, due to the national holiday in China, but current sentiment suggests that ocean carriers will find their rates under pressure following the Golden Week break. Last month, the Asia to...