Maritime News

Months of severe congestion caused container ship lines’ on-time performanceto plunge nearly across the board in 2014, according to Danish research firm SeaIntel Maritime Analysis.

Maersk Line is in early talks with Asian shipbuilders for an order of up to 10 container ships that would have capacities of up to 20,000 20-foot-equivalent units, the Wall Street Journal reported Friday.

OOCL plans to upgrade its intra-Asia service network by joining the Singapore-Chennai 2 (SC2) service operated by Wan Hai Lines and Bengal Tiger Line, starting in early February.

Sen. John McCain’s amendment to repeal a key provision of the Jones Act failed to make it into a Senate-passed bill authorizing construction of the Keystone XL oil pipeline.

Orient Overseas Container Line (OOCL) reported revenue of $5.8 billion in 2014, an increase of 3.5 percent that was achieved by the transport of 5.5 percent more TEUs than during 2013.

On the eve of a host of planned general rate increases, Asia-North Europe spot rates tumbled 8.2 percent this week, shedding most of the sharp gains made since mid-January, according to the latest reading of the Shanghai Containerised Freight Index (SCFI).

Hanjin Shipping ended 2014 with a loss of $386 million, a result that was still an improvement of 37.8 percent over 2013 and was achieved on the back of a vastly improved operating result.

China Cosco Holdings ended 2014 in profitable territory, growing its net earnings by 50 percent to $56 million on the back of cost cuts, improved revenue and lower bunker fuel prices.

Evergreen Marine Corp. on Wednesday finalized plans to charter an 11-strong fleet of 18,000 TEU ships, becoming the latest carrier to deploy ultra-large container vessels but raising questions about how appropriate such ships designed for an era of slow steaming are after the recent plunge in oil prices.

Leading container shipping groups are under fire from a safe shipbreaking campaign group for continuing to send vessels to "sub-standard" beach demolition yards on the Indian sub-continent.