Maritime News

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.

Speculation has been rife in the Singapore media about a possible tie-up between Neptune Orient Lines (NOL) and fellow G6 Alliance member Hong Kong’s Orient Overseas International Ltd. (OOIL), but a closer look at the business of the two carriers reveals that merging their operations would create little synergy.

APL issued an upbeat customer advisory Wednesday about conditions at Los Angeles-Long Beach, saying that while many ships remain at anchor off the coast, the pace of cargo handling is noticeably picking up.