Maritime News

• HMM CEO Kim Kyung-Bae views Hapag-Lloyd’s exit from THE Alliance as a significant opportunity for South Korea’s flagship carrier to expand its market presence.
• As Hapag-Lloyd prepares to form the Gemini Cooperation with Maersk Line next February, HMM sees a strategic chance for growth.
• The departure leaves ONE, HMM, and Yang Ming as THE Alliance’s remaining members, prompting HMM to consider external consultancy to devise a mid- to long-term expansion strategy.

HMM CEO Kim Kyung-Bae believes...

https://mfame.guru/hmms-expansion-prospects-brighten-with-hapag-lloyds-the-alliance-exit/

• HMM CEO Kim Kyung-Bae views Hapag-Lloyd’s exit from THE Alliance as a significant opportunity for South Korea’s flagship carrier to expand its market presence.
• As Hapag-Lloyd prepares to form the Gemini Cooperation with Maersk Line next February, HMM sees a strategic chance for growth.
• The departure leaves ONE, HMM, and Yang Ming as THE Alliance’s remaining members, prompting HMM to consider external consultancy to devise a mid- to long-term expansion strategy.

HMM CEO Kim Kyung-Bae believes...

https://mfame.guru/hmms-expansion-prospects-brighten-with-hapag-lloyds-the-alliance-exit/

The Northwest Seaport Alliance’s (NWSA) has reported that container volumes reached 261,495 TEU in March, marking an 8.5 per cent growth over the same month in 2023.

Year-to-date (YTD) volume comparisons increased 2.9 per cent YTD to 699,382 TEU, with full imports increasing 5.6 per cent and full exports growing 14.8 per cent.

Domestic container volume increased 1.8 per cent YTD 2024 compared to YTD 2023. Alaska volumes increased 4.9...

https://mfame.guru/nwsa-container-throughput-increases-in-march/

• Amid ongoing efforts to clear debris from the collapsed Francis Scott Key Bridge, a third temporary channel for boats to access the Port of Baltimore has opened, expanding shipping access significantly.
• The new channel, located to the northeast of the fallen bridge, is open to “commercially essential vessels,” allowing a greater variety of vessels to access the port while crews work to reopen the main channel.

The third temporary channel, with a controlling depth of 20 feet (6.1 meters), a...

https://mfame.guru/third-temporary-channel-opens-for-vessels-to-baltimore-port-after-bridge-collapse/

• The South Korean government plans to enhance the locally owned container shipping fleet by allocating around US$2.5 billion to increase the fleets of SM Line and other South Korean feeder operators by 100,000 TEUs.
• As part of plans to grow the locally owned container shipping fleet, the South Korean government will set aside around US$2.5 billion to increase the fleets of SM Line and other South Korean feeder operators by 100,000 TEUs.

The kitty is targeted at SM Merchant Marine, commonly...

https://mfame.guru/south-korea-allocates-us2-5-billion-to-boost-vessel-capacity-of-smaller-box-lines/

• In a groundbreaking move towards decarbonizing the maritime industry, MISC’s petroleum arm, AET, has entered into Time Charter Party Contracts (TCP) with PETCO Trading Labuan Company Ltd (PTLCL) for the development of the world’s first two ammonia dual-fuel Aframaxes.
• These vessels will transport products globally while utilizing ammonia as a cleaner alternative to conventional fuel, contributing to industry decarbonization efforts.

The TCP contracts were signed by Mr. Zahid Osman, President &...

https://mfame.guru/misc-and-aet-pioneer-ammonia-dual-fuel-aframaxes/