The Australian Competition and Consumer Commission (ACCC) has outlined preliminary concerns about DP World Australia’s proposed acquisition of Silk Logistics.
DP World Australia operates container stevedores at the Ports of Botany (Sydney), Melbourne, Brisbane and Fremantle and, on average, handles approximately a third of the containers processed at these ports.
Silk Logistics is one of the only national door-to-door container logistic providers in Australia and hauls import and export...
US container leasing company Triton International will buy its compatriot competitor Global Container International (GCI), according to a report by DynaLiners.
The transaction, including outstanding debt, is expected to exceed US$1 billion.
GCI, founded by container leasing veterans and an investment vehicle managed by Wafra, operates a fleet of approximately 500,000 TEUs, which will be added to Triton’s existing 7 million TEU fleet.
https://container-news.com/triton-acquires-gci-in-a-deal-exceeding-us1-billion/
A rates bloodbath is shaping up as fundamentals in supply and demand finally overwhelm the black swan events that have seen shipping lines bank hundreds of billions in profits since 2020.
According to Xeneta chief analyst Peter Sand, freight rates have declined by 50-70% since last July and the rate of decline has significantly accelerated in February.
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https://container-news.com/geopolitics-tariffs-and-war-result-in-rates-bloodbath/
Taiwan’s major shipping company Evergreen Marine Corporation announced improved financial results during 2024.
In particular, the ocean carrier reported revenue of TWD 463.6 billion (US$16.2 billion), translating to an 80% increase compared to the previous year, according to the latest DynaLiners report.
Additionally, Evergreen recorded operating profit of KRW 125.5 billion (US$5.6 billion), translating to a growth of 395%, and net profit of KRW 144 billion (US$5 billion), representing an...
https://container-news.com/evergreens-financial-figures-skyrocket-in-2024/
Orient Overseas (International) Limited, owner of Orient Overseas Container Line (OOCL), has reported strong financial results for the full year 2024, with a total revenue of US$10.7 million.
The company achieved an EBIT of US$2.6 million, reflecting solid profitability at the operational level, while EBITDA stood at US$3.5 million, demonstrating strong earnings before accounting for depreciation and amortization. Additionally, operating cash flow reached US$3.2 million, highlighting the firm’s...
https://container-news.com/oocl-posts-solid-revenue-and-profit-growth/
DP World Limited recorded revenue of US$20 billion in 2024, marking a 10% growth compared with the previous year, while adjusted EBITDA rose by 7% to US$5.5 billion, with an adjusted EBITDA margin of 27.2%.
At the same time, the profit of the UAE-based port operator climbed by 2% to US$1.5 billion.
“These results demonstrate the benefits of our strategic focus on high-margin cargo, end-to-end integrated supply chain solutions and disciplined cost optimization,” said DP World Group Chairman and...
https://container-news.com/dp-world-reports-improved-financial-results-for-2024/
There was no crew on the bridge of the container ship Solong when it crashed into the Stena Immaculate on the morning of 10 March, with the boxship colliding twice more with the tanker after the initial impact.
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https://container-news.com/crew-absent-from-solongs-bridge-at-time-of-accident/
Container ship newbuilding deliveries are seeing their longest lead time since the global financial crisis in 2008/2009, according to Alphaliner.
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https://container-news.com/newbuilding-boom-leads-to-longer-vessel-construction-waiting-times/
Israel-based container carrier ZIM reported total revenues of US$8.43 billion for the full year of 2024, compared to US$5.16 billion for the full year of 2023, driven primarily by an increase in freight rates and box volumes.
ZIM carried 3.75 million TEUs in 2024, compared to 3.28 million TEUs in the previous year. At the same time, the average freight rate per TEU was US$1,888, compared to US$1,203 in 2023.
The company’s operating income (EBIT) reached US$2.53 billion, while net income climbed...
https://container-news.com/zim-bounces-back-to-profit-after-2023-losses/
Taiwan’s major ocean carrier Yang Ming Ming reported consolidated revenues of US$6.94 billion and a net profit after tax of US$2 billion, resulting in earnings per share (EPS) after tax of NT$18.38.
The company delivered strong operational performance and profitability throughout the year with the board also approving a cash dividend distribution of NT$7.5 per share.
In 2024, the container shipping industry showed a net capacity increase of approximately 3 million TEUs, leading to supply growth...
https://container-news.com/yang-ming-records-us2-billion-in-annual-net-profit/