Maritime News

Mitsui O.S.K. Lines, one of Japan’s three largest shipping firms, is thinking of withdrawing from the Asia to east coast of South America trade.

Australia’s government is considering a block exemption to the competition law for liner shipping in a move that has been cautiously welcomed by Shipping Australia, the industry’s national association.

Maersk Line Chief Operating Officer Soren Toft has said Neptune Orient Lines is not its only potential acquisition target, but he declined to comment on whether the Danish carrier planned to make a formal bid.

The sharp drop in bunker prices has not undermined the competitiveness of new liquefied natural gas-powered container feeder ships for the North/Baltic Sea sulphur emission control area, according to German shipowner Nordic Hamburg.

Daniel B. Maffei, a former congressman from New York, has been nominated by President Obama to succeed Richard Lidinsky Jr. as one of the five members of the U.S. Federal Maritime Commission.

The potential acquisition of Neptune Orient Lines by CMA CGM would mark the biggest consolidation in container shipping based on the capacity of the targeted carrier, according to Alphaliner.

The fleet of idle container ships above 500 twenty-foot-equivalent units has surged to a five-year high of 1.2 million TEUs and more vessels will join the jobless queue in the coming weeks, Alphaliner said.

Charter rates for container ships have fallen completely out of sync as owners in the most hard-pressed segments scramble to secure any short-term cover they can get.

Eimskip is eyeing fleet expansion after the Iceland container shipping and refrigerated logistics group, posted its best quarterly result since 2009.

The government of Greece has again extended the bidding process for the sale of the port in Piraeus — the country’s largest — this time at the request of the potential purchasers.