Germany’s HSH Nordbank, the world’s biggest ship financier, warned the crisis in the shipping market could deepen through 2014, as it announced sharply lower net income and more than tripled loan loss provisions.
Maritime News
Maritime is the movement of international trade generated by freight companies. Whether moving by container ship, heavy lift vessel or tanker, maritime accounts for some 90 percent of all global trade by volume. Container shipping handles the vast majority of consumer goods — from retail products and food to autos and auto parts. Heavy lift vessels handle big equipment for projects such as refineries, infrastructure and wind energy.
Press Releases
23 May 2013
Hapag-Lloyd will revise three of its trade routes...
23 May 2013
Zim will end its involvement in the two Northern Europe-related trans-Atlantic services that are currently part of its service offering, linervision reports.
23 May 2013
Yang Ming Marine Transport, Evergreen Line, Pacific International Lines and Sinotrans will launch a joint China-Australia-Taiwan service on June 7.
22 May 2013
Drewry’s Hong Kong-Los Angeles Container Rate Benchmark rose $250 this week, achieving almost 63 percent of a proposed $400 per-40-foot-container general rate increase by USL and CMA CGM set for May 21.
22 May 2013
Crowley Maritime’s liner services group is adding more than 3,000 pieces of cargo handling equipment to its fleet, allowing the transportation company to expand its services in Puerto Rico, the Caribbean and Latin America.
22 May 2013
Containerized export volume from Europe to North America reached 322,300 20-foot-equivalent units in March, its highest volume since July 2012 and the second highest volume in this lane since the JOC began collecting this data in January 2011, according to data from Container Trades Statistics, Ltd.
22 May 2013
WASHINGTON, D.C. — Somali piracy is declining as more commercial vessels employ armed guards, foreign navies ramp-up security and courts dish out justice to offenders, but “progress is still fragile and reversible,” a State Department official warned yesterday.
22 May 2013
Trans-Pacific container lines got a reprieve from sliding freight rates this week when they put a general rate increase into effect on May 21, but freight rates are likely to continue to slide in the major east-west trades because some carriers continue to slash rates after repeated GRIs in an effort to gain market share.
22 May 2013
Mitsui O.S.K. Lines will begin operating in Canada as “MOL (Canada),” effective Aug. 1.
22 May 2013
Mediterranean Shipping Co. will increase rates for all dry and refrigerated cargo on its trade from Limassol, Cyprus, to any destination in the Far East, beginning June 1.
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Commentary
Ocean Carriers’ Internal Battle