Featured News

Hapag-Lloyd halves carbon emissions in 2019

Hapag-Lloyd has achieved a cut to its CO2 emissions (per TEU/kilometre) by 50% in the 2019 financial year, compared to the previous year, according to its 2019 sustainability report.

“In 2019, we succeeded in making a lot of progress in all dimensions,” commented CEO Rolf Habben Jansen. “For example, we further reduced our specific CO2 emissions, strengthened our social commitment and made huge investments in the quality of our service.”

Hapag-Lloyd claimed it will support the International...

https://container-news.com/hapag-lloyd-halves-carbon-emissions-in-2019/

Beibu Gulf develops SE Asia logistics links

Guangxi Beibu Gulf Economic Zone Planning Construction and Administration Office is striving to increase container throughput along the Beibu Gulf Rim to develop China’s southwestern gateway to Southeast Asia.

The Beibu Gulf Rim, also known as Gulf of Tonkin Economic Belt, is the area surrounding China’s southwestern coastal region around the Gulf of Tonkin. The region is part of the Chinese government’s “Go West” strategy, to boost its less developed western regions.

The “Go West” campaign, has...

https://container-news.com/beibu-gulf-develops-se-asia-logistics-links/

Lack of guards gave Tommi Ritscher pirates a free hand

A lack of guards on vessels could have allowed the pirates to attack the 5,000TEU container ship Tommi Ritscher on 19 April, according to Dryad Global.

According to Munro Anderson of Dryad Global up until the Covid-19 outbreak Benin and Togo Navy troops were placed on ships at anchorage, but that has stopped since the spread of the Coronavirus and this could have allowed the attack on the Portuguese flagged vessel.

Troops belonging to Nigerian special forces boarded the Portuguese container ship...

https://container-news.com/lack-of-guards-gave-tommi-ritscher-pirates-a-free-hand/

Maersk launches cold store in Russia

Maersk has announced that the largest cold store in St. Petersburg, whose construction commenced in June 2019 is now operational. The three-chamber warehouse operated by the Danish company offers specialised solutions extending the life cycle of perishable goods.

Nine months after the construction began, in June 2019, the chilled capabilities of Maersk’s own cold store in St. Petersburg will address the needs of the Russian market, according to Maersk. In the near future, the facility will also...

https://container-news.com/maersk-launches-cold-store-in-russia/

Hin Leong fails to disclose US$800 million losses

The founder and director of major Singapore oil-trading company Hin Leong Trading Pte Ltd (HLT) directed the firm not to disclose hundreds of millions of dollars in losses over several years, he said in a court filing reviewed by Reuters.

The affidavit signed by Lim Oon Kuin, a Chinese immigrant in his 70s widely known as O.K. Lim, is part of a Friday filing to the Singapore High Court by HLT and subsidiary Ocean Tankers (Pte) Ltd, seeking a six-month moratorium on debts of US$3.85 billion to 23...

https://container-news.com/hin-leong-fails-to-disclose-us800-million-losses/

In pictures: Oakland bids farewell to MSC Anna

Port of Oakland officials bid farewell to the biggest ship ever to visit this city. MSC Anna, the 400m long container vessel, departed from the Californian port for Busan, South Korea on April 17 from a berth in Oakland Estuary.

The Liberian-registered megaship loaded and unloaded 1,486 cargo containers in Oakland. The Port reported no problems with cargo transfers despite the unprecedented size of the MSC Anna.

“We’re not newcomers at this,” commented Port of Oakland maritime director John...

https://container-news.com/in-pictures-oakland-bids-farewell-to-msc-anna/

HMM launches US$592m bond issue for new containers, working capital

South Korean mainline operator HMM is issuing KRW720 billion (US$592.3 million) in convertible bonds, raising funds for capital investments in new containers as well working capital for the company.

The bonds will be issued to its largest shareholders, Korea Development Bank (KDB) and Korea Ocean Business Corporation (KOBC). The funds will finance capital investments, including ordering new containers at KRW400 billion (US$329 million). Another KRW320 billion (US$263.1 million) will be used as...

https://container-news.com/hmm-launches-us592m-bond-issue-for-new-containers-working-capital/

IMO member states submit proposals for maintaining trade flows

In the first ever International Maritime Organization (IMO) council meeting to be carried out by correspondence: the member states agreed to set out measures that will allow the continuation of trade during the Covid-19 outbreak, which has led to restrictions aimed at preventing the spread of the virus.

The IMO agreed to stage the 31st IMO council meeting with 40 council members and a number of observers by correspondence in the month starting on 18 March and ending on 15 April.

In the opening...

https://container-news.com/imo-member-states-submit-proposals-for-maintaining-trade-flows/

Covid-19 causes CSBC delivery delays

Taiwanese ship builder CSBC Corporation has confirmed to Container News that the Covid-19 pandemic may affect delivery of 10 feeder boxships to compatriot liner operator Yang Ming Marine Transport.

CSBC is building the 2,800TEU vessels, with the delivery dates originally scheduled from April 2020 to March 2021. The orders were placed in July 2018 and Yang Ming has options on up to four more ships.

In addition, a spokesperson for CSBC said that scrubber installation for six 1,800TEU ships for...

https://container-news.com/covid-19-causes-csbc-delivery-delays/

US markets enter critical phase of lockdown

Over the coming three weeks the trajectory of the Covid-19 virus will become more apparent and the issues around the supply chain will become clearer according to forwarding sources in the US.

Trading over the next three weeks will be tough with 150 retailer closed, with no indication of when they will reopen, and that means a severe decline in demand will necessarily follow, if it is not already occurring.

“According to Neil Saunders MD at Global Retail Data, 190,000 stores representing 50% of...

https://container-news.com/us-markets-enter-critical-phase-of-lockdown/

+ More