Maritime News

Maersk Line CEO Soren Skou on Friday discussed the proposed “2M’ vessel-sharing agreement with China’s Ministry of Commerce, as the carrier works to avoid a repeat of the rejection that it received from Chinese regulators for its proposed P3 alliance in June.

Ocean carrier rate revision roundup for Sept. 19
Multiple container lines have planned general rate increases in numerous trade lanes in October, although any gains achieved could be temporary as overcapacity and sluggish global demand continue.

SCFI Shanghai to Northern European ports rate September 19, 2014
Spot rates on the Asia-northern Europe trade plunged below $1,000 for the first time since March as September GRIs continued to slide, according to the latest Shanghai Containerized Freight Index.

Global Ship Lease has agreed to acquire an 8,063-TEU container ship from a “leading” though unnamed container line for $55 million, according to the container ship charter company.

With the number of laid-up container ships hovering close to three-year lows, vessel owners may enjoy a short-term boost in charter rates this fall, industry analyst firm Alphaliner reports in its latest newsletter.

The emergence of four large alliances among the world's largest container shipping lines is creating a two-tier market that could doom smaller carriers to hanging on to niche trades or going out of business.

Maersk Line and Mediterranean Shipping Co. today released the 2M Alliance’s tentative 2015 east-west network, including port rotations, arrivals and departures and transit times.

The global carrying capacity of container ships will grow by just shy of 5 million TEUs by the end of 2016, but the trend toward ordering larger ships means the number of vessels will not grow significantly, according to a Deutsche Bank shipping report.

China Cosco Holdings will splash out $618 million on five 14,500-TEU vessels that will be built by CSSC’s Jiangnan Changxing Shipbuilding yard as the mainland’s largest carrier continues to upgrade its fleet in an attempt to arrest declining profitability.

CMA CGM has upgraded its Amerigo service between the U.S. and the Mediterranean with the addition of a new call in Miami.