Container debris as Japanese boxship capsizes

Officials at the Japanese port of Tokuyama Shimomatsu Port have spent the past 24 hours fishing containers out of the water after a small feeder boxship capsized at the pier yesterday. The 200 teu Maya, a coastal feeder ship operated by Imoto Lines, capsized at a pier of Tokuyama Shimomatsu Port, southwest of Hiroshima, during cargo …

CMA CGM venture wins bid for state-run terminal at Jawaharlal Nehru

CMA Terminals, a subsidiary of the French containerline CMA CGM, together with J M Baxi Ports & Logistics, a unit of the Mumbai-based J M Baxi Group, have won the tender for the privatisation of Jawaharlal Nehru Port Container Terminal (JNPCT). Previously a state-run container terminal at Jawaharlal Nehru Port, India’s busiest container port, will …

Container shipping boom continues: Hapag-Lloyd hikes outlook (again)

As great as 2021 was for container shipping lines, this year is turning out better. Germany’s Hapag-Lloyd has just raised its earnings outlook again. The world’s fifth-largest liner operator said Thursday that it will post earnings before interest, taxes, depreciation and amortization of $10.9 billion for the first half of this year. This translates into …

Ocean Yield snaps up another methanol-ready boxship newbuild

Norwegian owner Ocean Yield has agreed to buy another 5,500 teu container vessel under construction in South Korea. As with the previous acquisition announced in June, the vessel will be built at HJ Shipbuilding and Construction, formerly known as Hanjin Heavy Industries & Construction, with delivery expected in May 2023, Ocean Yield said in a regulatory filing. …

CMA CGM bows to Paris’s call for help, cuts import rates by $500

CMA CGM has bowed to pressure from the French government, announcing a rate cut yesterday. France’s finance minister, Bruno Le Maire, had demanded earlier in the week that CMA CGM, and other companies making big profits in the transport and energy sectors, ought to help out as the nation battles economic tough times. The French carrier led …

Biden signs the Ocean Shipping Reform Act into law

President Joe Biden signed into law the Ocean Shipping Reform Act yesterday marking the first major change to federal regulations for international container shipping in more than a generation. The law will stop “shipping companies taking advantage of American families, farmers, ranchers and businesses,” the president said at a signing ceremony at the White House. …

HMM unveils digital booking platform Hi Quote

HMM from South Korea is the latest liner to unveil a digital container booking platform. Hi Quote, short for HMM Instant Quote, offers instant quotes, booking confirmations and space guarantees. To begin with, Hi Quote is currently available for export cargoes loaded on dry containers from South Korea to Europe, Southeast Asia, Southwest Asia, South …

Death toll rises to 49 from Bangladesh container depot fire

At least 49 people have been killed and hundreds more injured, after a massive fire tore through an inland container depot near the port city of Chittagong in Bangladesh over the weekend. The fire broke out at BM Container Depot on Saturday night, triggering multiple container explosions that shook the neighbourhood and shattered windows in nearby …