Maritime News

Growing international trade and rising container volumes and revenue during the third quarter was reflected in the financial results of China’s top two carriers — China Shipping Container Lines (CSCL) and China Cosco.

CMA CGM ship
Ten more CMA CGM ships are scheduled for modifications to their bows that will help the company save nearly 6 percent on fuel, the French carrier said.

Hapag-Lloyd again raised its “on-carriage congestion surcharge” for import shipments handled at Jawaharlal Nehru Port (Nhava Sheva), indicating that India’s largest container handler is still battling clogged railyards and that equipment turn times for ocean carriers have yet to improve.

Hanjin Shipping recorded its first quarterly net profit since the end of 2010 in a turnaround driven largely by cost cuts and currency gains that saw the Korean carrier posting third quarter net earnings of $39 million.

With the launch of its SeaLand inter-Americas service approaching on Jan. 1, Maersk has begun transitioning its affected customer base from Maersk to the newly created SeaLand unit.

Yangtze River
A major new initiative has been launched to upgrade infrastructure and the logistics network along the Yangtze River, an undertaking that will impact almost half of the country’s population.

HONG KONG — Robert Mylod, the former Priceline CFO who played a major role in automating the online consumer travel market, has joined online freight pricing and quoting network Freightos, which plans to mimic the automated system that was such a game changer in the travel business.

A new ACL Ro-Ro/Container ship currently under construction
Atlantic Container Line said the first of five new ships in a top-to-bottom fleet upgrade are on track to enter service next summer, followed with an additional delivery every two months until its current fleet of 1980s-era ships is replaced.

Flames raged aboard two container ships, one from UASC, another from Hamburg Sud on Monday after the ships collided at Port Klang near Kuala Lumpur.

The world’s largest box maker, China International Marine Containers (CIMC), posted a 66 percent increase in net profit for January through September as the U.S. and European economies continued to recover and new vessels were launched, driving up the shipping industry demand for new containers.