News

‘When will it end?’: November surge pushes freight rates to 121% yearly increase

“Long-term contracted ocean freight rates rocketed by a further 16.3% over the course of November 20...

‘Win-win’ for shipowners, with charter market rates and vessel values soaring

“Containership owners have seen the value of their assets soar in the past few weeks, and they are said to be “raking in the money”.” See the original story at The Loadstar. Source: The Loadstar (JK)

‘Yantian effect’ could cause shortage of goods as rates are set to stay high

“Chronic congestion in Asia, particularly at Yantian, the US and Europe will force rates higher and...

“Damietta Alliance” developing and operating a new container terminal in Damietta, Egypt

The following release was published by Hapag-Lloyd:

A new terminal will be built in the port of D...

“K” Line Launches Asia Chennai Express Service (ACE)

**KAWASAKI KISEN KAISHA, LTD. (“K” Line) is pleased to announce its enhanced containership service o...

“K” Line raises FY Q3 profit forecast on soaring container rates

““K” Line has increased its fiscal third-quarter profit forecast to more than $385 million on the back of soaring container rates, the shipping line said on Monday. ” See the original story at JOC. Source: JOC (JK)

“Makeshift” boxships gain pace with Starbulk capesize carrying containers

“With the shortage of container vessels hitting critical levels, some operators have begun using bulk carriers or other vessel types to move containers.” See the original story at Container News. Source: Container News (JK)

“The shipping industry could be entirely reshaped within the next five to ten years”

“Over the next decade the shipping sector could be completely reshaped, writes Danish Ship Finance i...

$1 billion CIMC – Maersk reefer deal scrapped

"The proposed $1 billion deal between China International Marine Containers Ltd. (CIMC) and Maersk C...

$1.4 billion added to US railroad modernisation programme

"The U.S. Department of Transportation (USDOT) has announced the availability of over $1.4 billion i...

$1.9 bln Shipping Rescue Package in Taiwan

[![[An Evergreen container vessel at port]](https://app.eesea.com/news/wp-content/uploads/evergreen-...

$120m worth of HSFO in Singapore found to be contaminated

“Singapore’s contaminated fuel outbreak is likely to cost tens of millions of dollars and keep lawyers busy for years to come.” See the original story at Splash247. Source: Splash247 (JK)

$173 per feu: Maersk warns EU’s emissions trading plans will be ‘significant’

"One hundred and seventy euros ($173). That’s the price Danish carrier Maersk estimates clients will...

$2 billion worth of imports at risk due to Felixstowe Port delays

“The ongoing crisis at the UK’s Port of Felixstowe could impact up to nearly $2 billion of trade imports, according to analysis by the Russell Group.” See the original story at Port Technology. Source: Port Technology (JK)

$23B of Russia to UK trade to be disrupted by British ports closure to Russian ships

“£17 billion ($23 billion) of annual Russian exports to the UK will be disrupted by the closure of a...

$2bn turnaround for CMA CGM in 2020 with demand and freight rates cruising

“CMA CGM has posted a net profit of $1.75bn for 2020, following a loss of $229m the year before, and said it was “confident” about the outlook for 2021.” See the original story at The Loadstar. Source: The Loadstar (JK)

$31 billion CPKC deal takes next step as STB review hangs in balance

"Canadian Pacific Railway Limited (CP) has announced it has received the required regulatory clearan...

$4.7 billion in trade to be delayed in eight-day strike at Port of Felixstowe

"The U.K.’s largest container port, Felixstowe, is essentially at a standstill after 1,900 members o...

$411 million for the Port of Toamasina

The Government of the Republic of Madagascar, represented by the Minister of Finance and Budget RAKO...

$800 million could be lost in trade in Felixstowe port strike fallout

"The proposed strike at the Port of Felixstowe could result in over $800 million in trade being disr...

£40m upgrade for Belfast Harbour

“Belfast Harbour has announced on Tuesday a £40m investment to upgrade its container terminal. Victo...

€100m container terminal to boost China trade

“Plans for a €100m trimodal container terminal at an inland port in Germany are expected to create t...

€305m Gabon project gets backing

“Financing has been secured for a €305m infrastructure upgrade by Gabon Special Economic Zone Ports (GSEZ Ports) at Owendo Port in Gabon.” To learn more, see the original story Port Strategy. Source: Port Strategy (JK)

€510M investment for Port of Leixoes

“The Port of Leixoes will receive €510m investment (US$630m) to increase capacity and create a new terminal able to receive bigger ships.” For more, see the original article on Port Strategy. Source: Port Strategy (LF)

10,010 TEU Neopanamax Sets Ecuador Record after Port of Guayaquil Upgrades

“The 10,010 TEU Neopanamax CMA CGM Cochin recently became the largest ship to dock in Ecuador as it arrived at the Port of Guayaquil.” To learn more, see the original story at World Maritime News. Source: World Maritime News (JK)

100+ containers affected as ONE boxship heads to Charleston

“An Ocean Network Express (ONE) vessel which suffered a damage or loss of over 100 containers will head to the Port of Charleston.” See the original story at Port Technology. Source: Port Technology (JK)

105 Sailings from Asia to North America and Europe Blanked in February

“Ocean carriers canceled about 105 sailings on the routes from Asia to the North America and Europe/...

11 Nations Hammer Out Deal on Trans-Pacific Partnership

“Eleven countries, including Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, N...

11 New Services Added to Panama Canal

**The Panama Canal has welcomed 11 new services through the waterway since its expansion, the canal...

11% Growth in Shahid Rajaee Port Container Throughput

“Container loading and unloading in Shahid Rajaee Port of the southern Hormozgan Province stood at 2...

12 – Port Capacity Plan Unveiled

“An East Asian country has unveiled large scale plans to boost its cargo-handling capacity at 12 por...

12 Companies in the Race for Mombasa’s Container Terminal

**Twelve companies out of nineteen have been shortlisted by the Kenya Ports Authority (KPA) for the...

12 consecutive months of record volumes at SC Ports

“South Carolina (SC) Ports had a record February for containers handled at the Port of Charleston.” See the original story at Port Technology. Source: Port Technology (JK)

13% growth for Black Sea container terminals

**The Black Sea container terminals of Ukraine, Romania, Russia, and Bulgaria saw growth of nearly 1...

135 TEU Millionaire Ports

“In 2017, 135 ports handled more than 1m teu with these ports handling 84% of the estimated teu volu...

15% of ONE’s fleet made extra calls for crew change in 2020

“Ocean Network Express (ONE) said that around 15% of its fleet of containerships made extra calls last year to conduct crew changes.” See the original story at Seatrade Maritime News. Source: Seatrade Maritime New (JK)

179th Gold-Headed Cane Ceremony and Another Record Year at the Port of Montreal

Montreal, January 3, 2018 – Montreal Port Authority (MPA) President and CEO Sylvie Vachon was please...

18 days to discharge 129 containers from storm damaged ONE Apus

“The painstaking work to discharge containers from storm damaged ONE Apus are set continue on Tuesda...

18,000 teu container vessels were “a step too far

“Container lines may have overshot in terms of calculating the optimum size of vessels as they sough...

19,000-TEU ship call at LA-LB promises empty container relief

“A call in Los Angeles-Long Beach on Sunday by mega-ship MSC Oscar will begin the urgent task of eva...

198 Containers on Board Fire-Stricken Yantian Express a Total Loss

“A total of 198 containers have been identified to most likely be a total loss due to the fire which...

2,000 workers set to strike at key Vancouver container terminals

“Two thousand waterfront workers at two key container terminals operated by the Port of Vancouver are poised to walk off the job at 7 am on Monday.” To learn more, see the original story at Daily Hive. Source: Daily Hive (JK)

20 tons of coke = 40+ years in prison for MSC container-ship crew

“Bosko Markovic began working for ocean carrier Mediterranean Shipping Co. (MSC) in 2008. Over the n...

20-row Evergreen boxship set to make landmark Panama Canal transit

Evergreen Chartered Boxship, Triton, is set to make a landmark transit through the panama canal. The...

20,000 TEU COSCO Shipping Pisces Named at DACKS

” A colossal 20,000 TEU containership, owned by COSCO Shipping Lines, was named today at Dalian Cosc...

20,000 TEU COSCO SHIPPING Sagittarius named in Shanghai

“On October 18, the naming ceremony for COSCO SHIPPING Sagittarius, the 9th 20,000 TEU ULCS of the C...

200 ships bunkered contaminated fuel in Singapore

“About 200 ships have been supplied with a contaminated batch of heavy sulphur fuel (HFO) in Singapo...

2015 Excellent Year for Abu Dhabi Ports

**Port developer and operator Abu Dhabi Ports, set a new annual cargo-volume record in 2015, posting...

2016 was a record year for Eimskip

Normalized EBITDA growth 23.7%

  • Revenue EUR 513.9 million, up by EUR 14.3 million or 2.9% from...

2017 a record year for DP World box terminals as market share increases

“Container terminal operator DP World handled a record 70.1m teu at its global facilities last year – 10.1% more boxes than in 2016.” For more, see the original article on The Loadstar. Source: The Loadstar (LF)

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