CMA CGM’s profit soared more than 43 percent in 2014 as the French carrier transported a record number of containers, cuts costs and trimmed its debt.
Carriers that have been passing on the benefits of lower fuel costs to shippers may not be so generous as freight rates continue their steady decline, is the view of Drewry in its latest Container Insight Weekly.
Hyundai Merchant Marine is selling its bulk shipping division, the latest in a series of assets that South Korea’s second-largest shipping conglomerate is shedding to raise liquidity.
A week after announcing its formation, a new shipper coalition in Shanghai lambasted container lines for focusing on price to the detriment of service.
A leading European barge operator will levy a congestion surcharge on containers shipped to and from Rotterdam next week.
OOCL and Yang Ming Line have expanded their joint China-Pakistan Express (CPX) Service by adding a direct call at Adani Hazira Container Terminal, a private facility in West India, starting in mid-April.
Hapag-Lloyd, Germany’s biggest container line, slumped to a net loss of 603.7 million euros [$652 million] in 2014 largely due to the one-off cost of acquiring and integrating Chilean carrier CSAV.
The slow season continued to exert its negative influence on spot rates across major east-west trades, with Asia-Mediterranean leading the way down this week and hitting lows not seen since October 2013, according to the latest reading of the Shanghai Containerised Freight Index (SCFI).
It was one up and one down for China’s two largest carriers as China Cosco Holdings reported net profit tumbling 46 percent, while China Shipping Container Lines (CSCL) stepped back into profitable territory.
Maersk Line has kick started its $15 billion ship investment program with its first order in more than four years for seven ice-class container vessels.