Officials at Israeli carrier ZIM have confirmed that a fire ripped through the 8,586 teu Zim Charleston 11 days ago in the Indian Ocean, with the ship showing no signs of leaving its mooring at Colombo port as accident investigators look into the latest blaze to hit the liner business. According to insurance firm WK Webster the …
After a meeting last week at the Port of New York and New Jersey, US Federal Maritime Commission (FMC) chairman Daniel Maffei said: “When ocean carriers continue to bring thousands of containers per month to a port and only pick up a fraction of that number, it creates an untenable situation for terminals, importers and …
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 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 …
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 …
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. …
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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 …
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. …