News

Maersk merges Singapore, Hong Kong offices

HK now HQ for combined ops; Singapore office oversees business in South-east Asia

Maersk Line,...

IRISL Coming Back to Europe by End of the Month

**Islamic Republic of Iran Shipping Lines (IRISL) plans to return to Europe before the end of this m...

IRISL makes a comeback

After an absence of over six years, Islamic Republic of Iran Shipping Lines (IRISL) is making a come...

Full ahead for IRISL as it prepares to rejoin global liner trades after sanctions are lifted

**Islamic Republic of Iran Shipping Line (IRISL) appears set to resume its service between the Middl...

Creditors ask Hyundai Merchant Marine to lower charter fees for new bailout

**Creditors of cash-strapped Hyundai Merchant Marine Co. agreed to provide a new debt relief only if...

HPH Trust Stays in the Black

**Despite the slow market conditions in 2015, the Singapore-listed container port business trust Hut...

HHLA achieves operating result (EBIT) of € 157 million

**According to preliminary figures, Hamburger Hafen und Logistik AG (HHLA) generated revenue of over...

HMM posts another annual loss, to sell Hyundai Bulk Line

**Hyundai Merchant Marine has posted another annual loss today (5 February), dipping KRW443.4 billio...

Moody’s: MOL’s Outlook Changed to Negative, K Line Up for Downgrade

**Moody’s Japan K.K. has affirmed the Ba1 corporate family rating of Mitsui O.S.K. Lines, Ltd. (MOL)...

Port of New York / New Jersey sets new cargo volumes record for 2015

**The Port of New York and New Jersey exceeded its previous record for annual cargo volumes in 2015...

Iran Launches New Direct Shipping Line to Oman

Iran has launched yet another shipping line, this time with its neighboring Oman.

The country h...

DP World reports 3.0% volume growth in 2015

Dubai, UAE Monday 08 February 2016 – DP World Limited handled 61.7 million TEU (twenty-foot equi...

DP World’s chairman appointed as new CEO

**Dubai-headquartered terminal operator DP World has announced that the group’s chairman Ahmed bin S...

CMA CGM-Cosco in New Alliance?

**The world’s third-largest container carrier CMA CGM recently attended a meeting in Shanghai where...

New York Smashes Record

**The Port of New York and New Jersey has set a new record for annual cargo volumes in 2015 by more...

Maersk Group Annual Report 2015

A.P. Møller – Mærsk A/S has published its Annual Report 2015 today, 10 February 2016.

Highlight...

Hapag-Lloyd purchases two ships and further optimizes its fleet

Hapag-Lloyd purchases two ships and further optimizes its fleet

**Acquisition of two modern wid...

The Port of Hamburg in 2015

**Higher bulk cargo throughput and strong growth in rail and inland waterway seaport-hinterland traf...

Maersk Line reports USD 1.3 billion profit in 2015

Maersk Line reports USD 1.3 billion profit in 2015

Copenhagen, 11 February 2016

“In light of...

APM Terminals’ Earnings Plunge in 2015

**Netherlands-based container terminal operator APM Terminals, part of Maersk Group, has seen its pr...

APM Terminals Broadened Portfolio and Business Model in 2015

**Investment now stands at USD 6.2 billion to expand and upgrade terminal network to meet future gro...

DP World to Invest Over USD 1bn in India

**Dubai’s port operator DP World is seeking investment opportunities in India worth over USD 1bn ove...

MSC: Introducing the Himalaya Express Service

A service connecting Europe, India and Sri Lanka

MSC is delighted to launch the Himalaya Expres...

EC Confirms Deal with Maersk, Others on Price Hike Changes

**The European Commission has confirmed today that the fifteen container lines suspected of a breach...

Moody’s changes outlook on Maersk’s Baa1 rating to stable from positive; affirms ratings

**Moody’s Investors Service has today changed to stable from positive the outlook on the Baa1 issuer...

Iran and Germany to Set Up Shipping Company, Resume Logistics Cooperation

**Iran and Germany are negotiating the possibilities for re-establishing shipping cooperation includ...

Alphaliner: CMA CGM, COSCO Forging a Mega Alliance

**A new mega alliance appears to be in the making, as French container shipping major CMA CGM and it...

Port of Houston sets container handling record in 2015

**“More than 2.13 million TEUs moved over the U.S. Gulf Coast port’s docks in 2015, up from just und...

Troubled HMM wants cheaper charter hire, but its containerships face arrest if payments are withheld

**Owners of containerships chartered to troubled South Korean carrier Hyundai Merchant Marine are sa...

Introducing COSCOCS: China’s New Shipping Giant to Ride Out Downturn

**China on Thursday launched a challenge to global shippers AP Moller Maersk and Mitsui OSK Lines, b...

Greece Approves Cosco’s Latest Offer for Piraeus

**China’s port operator Cosco Group (Hong Kong) Limited has been unanimously declared as the preferr...

China Cosco Shipping Corp officially established

**Newly formed China Cosco Shipping Corporation Limited has been officially launched on Thursday in...

CMA CGM to Form French-Asian Mega Alliance

**In a move which is said to challenge the market dominance of 2M, which is currently the world’s la...

Port Everglades Extends Deal with Terminal Operator

**Florida’s Port Everglades and the US-based marine terminal operator King Ocean Services Limited ha...

Port Metro Vancouver 2015 throughput declines despite container growth

**“The Canadian port reported container volumes rose 4.9 percent year-over-year to 3.1 million TEUs...

Evergreen Group founder’s will shows Chang Kuo-wei as successor

**EVERGREEN Group founder Chang Yung-fa, who died in January, chose his fourth son, Eva Airways chai...

COSCO to add 2 million TEUs by 2018

China Ocean Shipping Company (COSCO) will raise the operational capacity of twenty-foot equivalent u...

Rodolphe Saadé Confirms CMA CGM Alliance Talks

**In conversation with the Wall Street Journal, CMA CGM Vice-Chairman Rodolphe Saadé confirmed talks...

Hapag-Lloyd posts operating profit in Q4 2015 – Full year in line with expectations

Targets achieved / EBITDA reaches EUR 831 million / Margin increases to 9.4%

Hapag-Lloyd has ac...

Yilport Holding acquires Tertir portfolio of 10 terminals

**Yilport Holding announced today the acquisition of 100% shares of Portuguese terminal operator Ter...

No New Orders for COSCOCS, Existing Orders Enough to Reach 2Mln TEU Mark

**China Ocean Shipping Corporation’s (Coscocs) plans to up the ante by reaching a 2 million TEUs ope...

CMA CGM Denies Talks with Korean Builders on New Mega Boxships

**French container shipping giant CMA CGM denied media reports on being in preliminary discussions w...

Carriers terminate Asia-Red Sea container service

“Ocean carriers CMA CGM, UASC, Hanjin and CSCL will terminate their jointly operated REX3/ARC2 loop between China, Malaysia and the Red Sea.” For more details, please see the original article at American Shipper. Source: American Shipper

NOL posts 4Q 2015 net loss of US$77 million amidst macro-economic challenges

Narrows full year net and Core EBIT losses despite worsening market conditions

**SINGAPORE, 23...

Hanjin to Sell Assets to Refinance Debt

Having been faced with ever tougher financial situation the South Korean shipping company Hanjin Shi...

Milaha Reports 4 Percent Profit Growth

**Qatar-based marine transport and logistics conglomerate Qatar Navigation (Milaha) delivered a net...

Matson reports strong results for 2015

**Matson, Inc. (NYSE: MATX), a leading U.S. carrier in the Pacific, reported net income of $26.6 mil...

ADB Backs Port of Colombo’s Terminal Development

**Manila-based Asian Development Bank (ADB) and the Sri Lanka Ports Authority (SLPA) signed a transa...

DP World signs contracts for huge fourth terminal at Jebel Ali

**DP World yesterday signed two major construction contracts for its US$1.6 billion futuristic fourt...

Struggle over control of Evergreen Group intensifies

**“Disagreements have erupted between the children of Y.F. Chang, the deceased founder and chairman...