Maritime News

Diana Containerships swung back to profitability in the third quarter, reporting a net profit of $1.4 million on higher charter rates after losing $700,000 in the same period a year ago.

Emirates Shipping Line on Monday said it will expand its services connecting Asia and East Africa into two fixed-day weekly services that will ensure that “port delays do not impact the quality of service on either loop.”

CMA CGM’s net income almost tripled in the third quarter as the French carrier’s container volume surged to an all-time high. The results support the trend in which the largest carriers in the world are also the most profitable.

DFDS’s third quarter profit soared 17 percent even as northern Europe’s leading short-sea shipping and logistics operator closed routes and rejigged its network as Russian sanctions hit its key Baltic trades.

Evergreen Marine recorded an $80 million net profit in the three months ending Sept. 30. as the carrier added a second profitable quarter since joining the CKYH Alliance in March.

The Philippine’ cabinet cluster on port congestion directed by cabinet secretary Jose Rene Almendras will gather for a port forum on November 27 in Manila as officials struggle to address the bottlenecks that have troubled the gateway since late February.

Even at lower rates of growth in container volumes globally, ports will still have to absorb hundreds of millions of additional TEUs over the next decade, a challenge for marine terminals over and above the painful transition to an era of big ships.

Weekly wrap-up for Nov. 22
Another week of the top stories on JOC.com focusing on the crisis-level congestion plaguing U.S. West Coast ports, although one story on Horizon Lines slipped into the Top 10.

The international shipping industry is only spending 0.1 percent less on bunker fuel than it was 24-weeks ago, but that fluctuation equates to big savings: $117 million daily.

Hapag-Lloyd and CSAV just need approval from Ukraine and China to merge and create the fourth-largest container lines, after Mexican regulators gave the tie-up the green-light this week.