Maritime News

Fesco Transportation Group’s revenue and earnings declined in the first half as a weaker rouble and lower ocean freight rates offset higher container volumes.

Maersk Line has levied a congestion surcharge on all North American cargo discharged at the port of Sohar in Oman from Oct. 1 as the relocation of all commercial traffic from Muscat to Sohar leads to berthing delays.

Small Malaysian container line and regional feeder operator PDZ released its full-year results, and once again the destructive impact of weak freight rates was evident in a carrier’s financials despite the line posting a pre-tax profit.

Zim Integrated Shipping Services entered the final stages of a debt restructuring programme after posting a mixed set of first-quarter results where the carrier managed to reduce the size of its loss despite falling revenue.

Cosco Philippines
Cosco Container Lines (Cosco) is placing an order for five 14,000-TEU vessels as it continues with an aggressive tonnage scrapping programme to revitalise both its fleet and its flagging profits.

Vehicles in ro-ro carrier
North American vehicle production is on the rise amid strong demand for vehicles in the NAFTA countries and foreign markets.

Weekly wrap-up for Aug. 30, 2014
Members of the International Longshore and Warehouse Union ratified a new collective bargaining agreement with grain handlers in the Pacific Northwest, ending a two-year battle between the two parties.

Chilean container line CSAV cut back its losses in the second quarter, losing $58.5 million ahead of its merger with German carrier Hapag-Lloyd.

The Clementine Maersk will skip the port of Vancouver, British Columbia, in its current rotation, citing congestion and “significant” delays following the CMA CGM Attila’s striking of the dock two days ago. The Maersk Line vessel will shift cargo bound for the Canadian gateway to the CMA CGM La Scala.

Rickmers Group said “strained” markets, currency exchange and weak charter rates contributed to revenue and profit declines in the first half of 2014, and that conditions will remain difficult through the rest of the year.