Container Shipping News

MOL (America), a subsidiary of Mitsui O.S.K. Lines, will move its North America headquarters from Concord, Calif., near the port of Oakland, to Lombard, Ill., a suburb of Chicago.

U.S.

The A.P. Moller-Maersk Group will merge its subsidiaries Maersk Logistics, Maersk Customs Services and Damco into one company Sept.

As morning broke over the Gulf of Aden June 1, a white skiff sped toward a commercial ship en route off the East African Coast.

Hoegh Autoliners, the Norwegian ocean car carrier, will launch service between the Middle East, India and Africa next month.

Maersk Line launched a new container service, the Ecuador-Banana-Express (ECUBEX), effective June 1.

Ocean carrier APL on Wednesday launched a weekly direct container shipping service between Vietnam and the United States.

CMA CGM today announced a series of rate increases on the Asia-Europe trade lane, where carriers have been losing money on every trip since last winter because of rock-bottom freight rates.

Freight traffic on the St.

London – Israel Corp. lent its container shipping unit Zim Integrated Shipping $50 million to help the troubled Israeli carrier survive tumbling cargo volume and sliding freight rates.

Maersk Line Ltd. invested nearly $400 million to recapitalize and reflag nine of its ships into the U.S. registry.

Fitch Ratings downgraded some of the credit ratings of CMA CGM to reflect the company’s deteriorating balance sheet and the downturn in the global container shipping business.

Economic recovery will occur when consumer spending turns around, unemployment bottoms out and the business inventory-to-sales ratio improves, but that will take awhile, according to the chief economi

Aries Transport, a Nasdaq-listed ship operator, posted a loss of $4.2 million for the quarter ended March 31, compared to a $5.1 million loss in the same quarter last year.

Hamburg Süd on Friday christened the last of a series of ten new Monte class ships. The ocean carrier will add three larger Rio class ships later this year.

Neptune Orient Lines announced plans to raise about $1 billion through a rights issue to its shareholders that will be partly underwritten by its majority owner, Temasek, the Singapore government&rsqu

London -- The fleet of idled container ships owned by ocean carriers is shrinking as unemployed vessels are brought back into service to handle the seasonal rise in cargo volumes.

Following announcements by APL and MOL that they would begin direct calls to Vietnam, Hyundai Merchant Marine announced changes to two services linking Pacific ports to the U.S. West Coast.

Evergreen Line and China Shipping Container Lines have agreed to pool their assets on four different trade lanes by sharing slots and vessels starting this month.

London -- Container ship charter rates are still falling despite the onset of the peak shipping season, as ocean carriers continue to trim capacity amid stagnant cargo volume on key deep-sea liner tra

Customs and Border Protection should delay implementation of the Importer Security Filing rule until the World Customs Organization has had time to review its compatibility with the SAFE Framework sec

The first deep-water container terminal serving Vietnam's southern commercial hub opened Friday, clearing the way for direct service to the United States to begin this week, APL said.

Maersk Line plans to upgrade its MECL1 and MECL2 services that cover the trade between the Middle East and Indian Subcontinent and the United States East Coast.

The Shipping Corporation of India will revive a vessel sharing agreement for India-Europe service that fell apart as a result of the downturn in trade volumes.

Undeterred by the GLOBAL RECESSION and declining container volumes, China is moving forward with its ambitious port development program.

Most Dangerous Waters

The Port of Charleston will get another weekly call by Mediterranean Shipping Co.

A group of German charter container ship-owners agreed to a $710 million rescue for CSAV, the financially troubled Chilean ocean carrier.

Kawasaki Kisen Kaisha ("K" Line) established its own shipping agency, "K" Line Roro & Bulk Agencia Maritima Ltda., in Brazil for car carrier and bulk shipping.

Germany's BBC Chartering and Danish carrier Clipper Projects have called time on their five year Far East project cargo joint venture.

Zim Integrated Shipping reported first quarter net losses widened to $119 million from $29 million a year ago on weaker freight rates and a slump in cargo volumes.

Container throughput at the Port of Marseilles-Fos picked up sharply in April to 225,726 TEUs, almost as much as the entire first quarter, resulting in a 1 percent increase in the first four months of

Breakbulk carriers will continue to feel the world economic bust, but they’ll weather it better than their brethren in the container or dry-bulk markets, analyst Dirk Visser told the Journal of

Breakbulk carriers have established the International Council of Heavy Lift and Project Cargo Carriers to discuss industry issues related to education, technical innovation, security and other non-rat

Kalmar, a business unit of Cargotec, won a contract to provide a fleet of 20 shuttle carriers to TTI Algeciras in Spain.

NileDutch, a niche ocean container and multipurpose shipping line, has teamed up with Japanese shipping giant NYK to launch a new direct liner service linking Asia with South and West Africa.

Container line APL, saying earlier rate hikes haven’t been strong enough, said today it will raise freight rates starting in June on Asia-Europe lanes for the second time this year.

A.P.

The Piraeus Port Authority, OLP, reported first quarter losses narrowed sharply from a year ago, driven by higher container traffic after dock workers called off a two year campaign of industrial acti

MOL may take advantage of the glut of dry bulk tonnage to bid for an overseas bulk- shipping line as plunging demand and the global recession send company valuations tumbling.