Maritime News

China’s Cosco Pacific will bid for a majority stake in Greece's port of Piraeus after the country's new socialist government apparently reversed course on its opposition to port privatization.

TOTE Marlin-class container ship, powered by LNG
TOTE Inc. has scheduled an April 18 launching for its first container ship built to operate on liquefied natural gas fuel. The new ship will be operated by Sea Star Line between Jacksonville, Florida, and San Juan, Puerto Rico.

CMA CGM container ship
CMA CGM will sign an order for three 20,600-TEU container ships this week, the French carrier’s vice chairman said.

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 bulk carrier
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.