Talks between state-owned giants Cosco and China Shipping will continue into the new year, the groups said in exchange filings, six months after trading in shares of their listed subsidiaries was suspended.
The shipping industry is bracing for a carbon levy on marine bunker fuels to emerge from the global climate change conference that started in Paris Monday.
Singamas Container Holdings has issued a profit warning for the year that it blames on the market downturn and predicts it will hurt the company’s profitability into the first half of 2016.
Headhaul Asia-North Europe volumes will have shrunk by an incredible 400,000 TEUs by the end of December compared to last year if the rate of decline continues, according to Drewry.
Shipper groups have raised serious doubts about the benefits offered by mega alliances and the growing size of container ships, complaining of reduced choices and deteriorating service levels.
Russian regulators have initiated administrative proceedings against CMA CGM and Maersk Line after accusing the two container lines of failing to provide documents requested as part of an investigation into alleged collusion.
India and Bangladesh are moving closer to allowing introduction of coastal shipping services between the two countries with the goal of boosting bilateral trade.
Spot freight rates on the Asia to North Europe and Mediterranean trades came surging back after last week’s record lows, most likely a result of carriers laying up greater numbers of the larger vessels deployed on the westbound trade.
Construction on the $50 billion Nicaragua canal has been delayed again and work will not begin until late 2016, according HKND Group, the Chinese company with exclusive rights to build and operate the waterway.
Zim Integrated Shipping Services’ financial recovery is gathering pace as the Israel-based ocean carrier posted its fourth consecutive quarterly operating profit in challenging market conditions.