Container lines

NOL Group posted a fourth quarter loss of $137 million, which was $46 million bigger than the $91 million loss in the same period last year, as revenue from its container shipping business was hit by overcapacity and falling freight rates.

In mid-March, Hapag-Lloyd plans to launch its fixed-day, weekly Sweden Denmark Express service...

Two U.S. security officers have been found dead on the Maersk Alabama, according to a statement by Seychelles police today, CNN reports.

A depressing air of déjà vu enveloped the Hamburg shipping community when Greek container ship owner Danaos announced that it is taking a $19 million hit on the debt restructuring of Zim as it cuts the charter rates of six ships on hire to the Israeli ocean carrier.

The global container ship fleet this year is expected to grow at the slowest rate in a decade, but large and small shipping lines continue to order more new ships than the forecast growth of global container cargo can fill over the next two years, especially on the Asia-Europe trade.

Not a great deal is known yet about the “Strategic Cooperation Framework Agreement” signed this week by COSCO and China Shipping. But the very fact an agreement of any kind was publicly unveiled in Beijing (at the COSCO headquarters), shows how times have changed in China and worldwide.

Evergreen Line has confirmed that it is in negotiations with the CKYH Alliance to form a new alliance...

CMA CGM has extended its FEMEX service in the Black Sea with the addition of three new calls in Samsun, Turkey; Novorossiysk, Russia; and Constanta, Romania.

The Maersk Svendborg container ship lost a “significant number” of containers over board during “very rough” weather in the Bay of Biscay on Feb. 14, according to Maersk Line.

Major carriers aim to hike rates in a variety of trade lanes in March, although any increases achieved could be temporary.

China confounded analysts in January as export and import growth accelerated despite the expected negative impact of Chinese New Year and forecasts of slowing economic expansion.

Singapore-based Bengal Tiger Line has introduced a new container feeder service linking Krishnapatnam Port, India, with Colombo, Sri Lanka, effective this month.

Chilean carrier CSAV said it plans to add up to $600 million in capital to complete the financing of ships under construction and to help finance a proposed merger with German shipping line Hapag-Lloyd.

Zim has canceled its remaining orders for four 12,552-TEU ships from Samsung Heavy Industries and four 8,800-TEU ships from Hyundai Samho...

Containerized imports at U.S. ports are projected to drop to their lowest level of the year in February, but should rebound strongly in the ensuing months, according to the Global Port Tracker published by the National Retail Federation and Hackett Associates.

Danaos, the Greek container ship owner, remained in the red in the fourth quarter of 2013, but swung to a profit for the full year from a loss in 2012.

New estimates on postponement of ship deliveries and scrapping are already tamping down estimates on capacity tonnage growth this year.

Mitsui O.S.K. Lines has confirmed to the JOC that it has filed a lawsuit in Tokyo against Mitsubishi Heavy Industries for damages related to the MOL Comfort incident.

Middle East-based Simatech Shipping has announced the launch of a new container service connecting Vallarpadam Transshipment Terminal, India, with Jebel Ali, United Arab Emirates, starting this month.

Goldenport, the Greek shipowner, trimmed its losses in 2013 as a recovering dry bulk market countered the impact of a fifth consecutive year of weak container ship charter rates.

Japanese carriers NYK Line, MOL and “K” Line posted combined losses of more than 14.5 billion Japanese yen (about US$144.4 million) in the first three quarters of fiscal year 2013...

South Korea’s economy is expected for perform better this year as export demand picks up.

United Arab Shipping Co. today said it has exercised an option for six additional 14,000-TEU container ships, taking its total order book to 16 vessels worth more than $2 billion.

CMA CGM has upgraded its Oceania-U.S. service to a weekly frequency with the addition of a second string to its PAD service, which will take effect in the beginning of March.

CMA CGM has announced the launch of a new direct service from the Middle East to Somalia.

Costamare’s revenue and earnings grew in the fourth quarter of 2013 from a year earlier as the Greek charter shipowner boosted its fleet.

The United States overtook China to become Japan’s biggest export market for the first time in five years in 2013, according to preliminary trade figures released by the Finance Ministry.

OOCL’s total revenue in the fourth quarter of 2013 fell 1.6 percent year-over-year to $1.4 billion, partially fueling a 4.9 percent decrease in total yearly revenue...

This is the first of a two-part series looking at NAFTA’s legacy, the North American supply chain and the future of cross-border trade.

The merger of Hapag-Lloyd and CSAV would be “a step in the right direction” for the container shipping industry, but the pending marriage of the sixth and 20th largest container lines, respectively, won’t dampen the competitive nature of the market in the long-term, according to Jefferies shipping analyst Johnson Leung.

Israeli ocean carrier Zim today announced it has reached a $3 billion debt restructuring deal with a majority of its creditors, paving the way for new partnerships with rival lines, an initial public offering and orders for mega container vessels.

Hapag-Lloyd and CSAV have signed a memorandum of understanding regarding a possible merger of their container shipping liner services, taking merger talks “into the next phase.”

Growth in demand from the Asia-Pacific will be critical to the fortunes of the logistics industry in 2014, according to the Agility Emerging Markets Logistics Index 2014.

China Shipping Container Lines has upgraded the capacity of five ships on order at Hyundai Heavy Industries from 18,400 TEUs to 19,000 TEUs, the South Korean shipyard said today as it began construction of the first of the world’s largest container vessels.

India’s merchandise exports in December rose 3.5 percent year-over-year to $26.35 billion, the lowest growth rate in six months.

Israel Corp. is set to lose control over Zim Integrated Shipping Services after creditors agreed to restructure the financially troubled Israeli ocean carrier’s debt.

Pacific International Lines will start calling at the Port of Seattle in February.

U.S. trade with Latin America is poised to expand in the coming years, which highlights the need to accelerate port and infrastructure development in the region.

Global piracy fell to a six-year low in 2013 as international navies and private security guards significantly reduced attacks by Somali pirates, the International Maritime Bureau reported.