Container lines

China Cosco Holdings swung to a loss of $77.3 million in the first quarter ended March 30 as global vessel overcapacity caused a decline in freight rates in the container and dry bulk sectors.

Japanese carrier “K” Line reported $368 million in net income for its just-ended fiscal year but forecast lower profit and revenue amid a “largely unpredictable” outlook for shipping.

Japanese shipping conglomerate NYK Line reported a $912.7 million profit for its just-ended fiscal year, reversing a $187.5 million loss a year earlier.

Japanese ocean carrier Mitsui O.S.K.

The Justice Department wants Horizon Lines' $45 million fine for price-fixing in the U.S. mainland-Puerto Rico trade to be slashed to $15 million to avoid sending the carrier into bankruptcy.

MOL will upgrade its Singapore-Nhava Sheva-Karachi Service linking Southeast Asia and the Indian subcontinent, starting in May.

The Coast Guard proposes establishing a permanent safety zone for the entire 77 miles of the Chicago and Sanitary Ship Canal and related waterways.

Zim Integrated Shipping Services announced a general rate increase on the westbound trades from India to Europe and the Mediterranean, the second GRI in one-and-a-half months and the third this year.

United Arab Shipping Company signed a $140 million loan facility with Gulf Bank, Kuwait, the latest financing to support the expansion of its container fleet and route network.

INTTRA, an electronic booking portal for the ocean freight industry, formed a new advisory board with its customers to set standards for electronic payments.

Container ship owner-lessor Seaspan took delivery of the 8,500-TEU Cosco Vietnam from South Korea’s Hyundai Heavy Industries.

Emirates Shipping Line will join Hyundai Merchant Marine and STX Pan Ocean in the NIS intra-Asia service, which links Korea, China, Vietnam, Singapore and Indonesia.

Sea Star Line and Crowley Maritime will proceed with their parts of a settlement in which they and Horizon Lines agreed to pay shippers a total of $52.25 million to settle allegations of price-fixing

United Arab Shipping Company announced a general rate increase on the westbound trades from India to Europe and the Mediterranean, the second GRI this year.

Ron Widdows, a prominent leader of the global container industry, will retire as group president and chief executive officer of Neptune Orient Lines, NOL Group announced Monday.

Japan will conduct radiation checks on ships and containers leaving three main international ports in and near Tokyo beginning April 28, the Ministry of Land, Infrastructure, Transport and Tourism ann

TUI, co-owner of Hapag-Lloyd, asked Chinese group HNA and Oman's Onyx Investments to make binding bids for a stake in the shipping group by late May, three people close to the process told Reuters.

A South Korean naval ship Thursday rescued a Hanjin Shipping container ship that had been attacked by pirates in the Indian Ocean.

Canada's West Coast port of Prince Rupert will add two new weekly trans-Pacific services in May, one by China Ocean Shipping Co. and the other by Hanjin Shipping.

Spot freight rates on the trans-Pacific broke a 16-week downturn this week, as the Drewry benchmark for shipping a 40-foot equivalent container from Hong Kong to Los Angeles increased 6 percent from t

Evergreen Line, Wan Hai Line and Interasia Lines will launch a new weekly Taiwan-Madras Trunk service starting April 29 from the port of Taichung in Taiwan.

Horizon Lines, trying to rebuild after taking a major hit to its finances and management, named William A. Hamlin to the position of senior vice president of operations.

OOCL's total revenue increased 17.2 percent to $1.329 billion in the first quarter from $1.134 billion in the same quarter last year, its parent company OOIL said Tuesday.

Ocean container carriers earned an estimated $14 billion in 2010, the most profitable year in the industry's history, almost cancelling the aggregate operating loss of $15 billion in 2009.

China Shipping Container Line on Monday completed the first phase of an expansion project at its Los Angeles terminal, demonstrating to elected officials and the neighboring community that a marine te

Maritime piracy costs the global shipping industry anywhere from $3.5 billion to upwards of $8 billion a year, according to Ron Widdows, group president of Neptune Orient Lines and chairman of the Wor

The battle over 100 percent scanning of U.S.-bound ocean containers is taking another sharp turn in a partisan skirmish over maritime security.

Somali pirates released the MV Asphalt Venture, a Panama-flag oil tanker, after almost seven months of captivity but later reneged on their agreement to free the entire 15-member crew, all Indian.

CMA CGM announced a range of rate increases and surcharges across its global liner network aimed at restoring revenue. Rate news from JOC:

To get a sense of the scale of the world’s largest commercial container ships, it may help to stand in New York’s Times Square.

Shipping industry observers are raising alarms that the strong turnaround in container line profitability over the past year may be reversing course.

Mediterranean Shipping Company plans to apply a general rate increase on the Far East-Asia-Indian subcontinent trade lane as well as to the Far East-Asia-Canada lane.

OOCL said it is scanning all vessels it owns or charters for radiation before they depart from the Kanto ports of Tokyo and Yokohama to protect its crew members and to mitigate the risk of radiation s

The Westbound Transpacific Stabilization Agreement, a discussion group of 10 ocean carriers in the trade, published the checklist in order to improve clarity in the contracting process and minimize th

Box Ships, an Athens-based container ship charter owner, raised $132 million from an initial public offering but its shares slipped on their NYSE debut April 14.

Diana Containerships, a NASDAQ-listed owner of container ships for charter, said Thursday it agreed to buy three Maersk Line Panamax vessels, one from Maersk Line UK and two others from A.P.

Spot freight rates on the trans-Pacific and Asia-Europe trade lanes may not recover from their three-month slide until the peak season demand in the third quarter of this year, according to BIMCO, th

Hanjin Shipping plans to increase freight rates as of May 15 on the Asia-Europe trade lanes.

Piracy at sea hit an all-time high in the first three months of 2011, with 142 attacks worldwide, according to the latest global piracy report by the International Maritime Bureau of the International

Somali pirates released the Beluga Nomination after almost three months of captivity, according to European news sources.