A complaint filed in March 2022 with the US Federal Maritime Commission (FMC) by Achim Importing Company Inc., a home furnishings company based in New Jersey, against Yang Ming Marine Transport Corporation has been settled out of court. Details of the settlement will not be made public, as agreed...
https://splash247.com/us-shipper-complaint-filed-with-fmc-against-yang-ming-settled-out-of-court/
China International Marine Containers Group Ltd., the largest manufacturer of steel containers used for ocean shipping, has abandoned its intended acquisition of shipping giant Maersk’s refrigerated container manufacturing business after objections from U.S. competition authorities, the Department of Justice said Thursday.
A.P. Moller-Maersk agreed in September 2021 to sell Maersk Container Industry A/S and its Qingdao, China, factory to CIMC for $987 million. The divestment is part of Maersk’s...
Shippers and liners received both good and bad news yesterday, surveying the north European ports scene, which has been heavily hit by industrial action and congestion in recent months. In Germany, an agreement was reached between unions and ports to avert future strikes. However, in the UK,...
https://splash247.com/union-boss-warns-felixstowe-strike-could-be-extended-through-to-christmas/
Tim Hartnoll-led private equity venture HICO Investment Group has bought Bengal Tiger Line (BTL) as well as acquiring a majority shareholding in Caribbean Feeder Service in the latest chapter of container consolidation. No price has been revealed for the acquisitions by the Hartnoll family, who...
https://splash247.com/tim-hartnoll-venture-acquires-bengal-tiger-line-and-caribbean-feeder-service/
DP World subsidiary P&O Maritime Logistics, best known for its offshore support operations, is getting more involved in the container business with the help of sister firm Unifeeder. P&O Maritime Logistics’s recently modified multi carrying vessels (MCVs) are now carrying boxes across the Red Sea...
Regional liner trades are being squeezed further with the impact of higher freight rates on consumer prices now five times stronger in many less well connected countries. Despite a year-on-year cellular fleet growth of 3.8% as of August 1, three trades have shown a significant reduction over the...
https://splash247.com/regional-liner-squeeze-takes-harsh-toll-on-developing-nations/
Klaus-Michael Kühne, the octogenarian joint top shareholder in Hapag-Lloyd, has said he feels uncomfortable with the stellar profits Germany’s top containerline is making. In a wide-ranging interview carried by the Frankfurter Allgemeine yesterday, Kühne discussed his stakes in Lufthansa, the...
https://splash247.com/klaus-michael-kuhne-not-comfortable-with-hapag-lloyds-stellar-earnings/
General average has been declared on the 8,586 teu , with Splash sourcing the first public image of the burnt vessel. General average security will be now required from all cargo interests prior to the delivery of their cargo. According to insurance firm WK Webster the fire, which took place west...
https://splash247.com/general-average-declared-on-burnt-zim-charleston/
Shipowners hoping for a cooling in newbuild prices should brace for disappointment. Key yards are still posting enormous losses, despite orders piling in and prices heading north. With orderbooks stretched far forward, shipbuilders will remain obstinate when it comes to pricing as they battle to...
https://splash247.com/heavy-losses-at-yards-suggest-newbuild-prices-will-remain-firm/
German containerline Hapag-Lloyd has kicked off a fleet upgrade program for 150 ships over the next five years. The first part of the plan will see a new German propeller installed on the 7,500 teu in Dubai next month, something that the carrier says will deliver between 10 and 13% fuel and CO2...
https://splash247.com/hapag-lloyd-kicks-off-fleet-upgrade-program/