In the latest sign of the challenge facing Asia-Europe carriers to make money in the busiest global shipping lane, the G6 Alliance said it would cancel two sailings, citing low demand. Yet canceling individual sailings will likely do little to quell analysts’ view that significantly more capacity, such as entire services, would need to be suspended in order to meaningfully impact supply and demand in the Asia-Europe market.
In its new mega-ship order announced on Tuesday, Maersk Line took a conservative road, achieving a 7 percent capacity increase in ships of almost identical hull dimensions to its Triple-E class. In the process, it is showing how carriers are not automatically opting to build ever-larger ships to push the boundaries of economies of scale.
Taiwanese carrier Evergreen Line and Turkey's Arkas Line are launching a new collaborative West-East Mediterranean Service.
Maersk Line today signed an order for eleven 19,630 TEUs container ships, in a $1.8 billion deal aimed at consolidating its ranking as the world’s largest ocean carrier.
Fesco’s first-quarter earnings rose 5.4 percent as cost savings offset a slump in container volumes resulting from a fragile Russian economy and a depreciating rouble.
United Arab Shipping Co. is seeking to broaden its service reach by adding refrigerated container capacity and joining CMA CGM and Hamburg Sud in a weekly vessel-sharing agreement in a bid for a bigger slice of trans-Atlantic trade.
Pasha Hawaii will add a second weekly call at Los Angeles and discontinue direct calls at Tacoma in a service overhaul that follows the carrier’s takeover last week of Horizon Lines’ Hawaii routes.
CMA CGM’s new Wazzan service linking Morocco and Northwest Africa is designed to tap into a growing intra-Afric
It’s been a little more than three months since the inaugural statements of the new Greek government, dominated by its radical-left Syriza component, said it would block sales of national strategic assets.
Rickmers Holding has switched its legal status from limited partnership to stock corporation, paving the way for a potential initial public offering by Germany’s biggest container ship owner and manager, most likely in New York.