Container lines

CMA CGM today announced a series of rate increases on the Asia-Europe trade lane, where carriers have been losing money on every trip since last winter because of rock-bottom freight rates.

London – Israel Corp. lent its container shipping unit Zim Integrated Shipping $50 million to help the troubled Israeli carrier survive tumbling cargo volume and sliding freight rates.

Maersk Line Ltd. invested nearly $400 million to recapitalize and reflag nine of its ships into the U.S. registry.

Fitch Ratings downgraded some of the credit ratings of CMA CGM to reflect the company’s deteriorating balance sheet and the downturn in the global container shipping business.

Economic recovery will occur when consumer spending turns around, unemployment bottoms out and the business inventory-to-sales ratio improves, but that will take awhile, according to the chief economi

Aries Transport, a Nasdaq-listed ship operator, posted a loss of $4.2 million for the quarter ended March 31, compared to a $5.1 million loss in the same quarter last year.

Hamburg Süd on Friday christened the last of a series of ten new Monte class ships. The ocean carrier will add three larger Rio class ships later this year.

Neptune Orient Lines announced plans to raise about $1 billion through a rights issue to its shareholders that will be partly underwritten by its majority owner, Temasek, the Singapore government&rsqu

London -- The fleet of idled container ships owned by ocean carriers is shrinking as unemployed vessels are brought back into service to handle the seasonal rise in cargo volumes.

Following announcements by APL and MOL that they would begin direct calls to Vietnam, Hyundai Merchant Marine announced changes to two services linking Pacific ports to the U.S. West Coast.

Evergreen Line and China Shipping Container Lines have agreed to pool their assets on four different trade lanes by sharing slots and vessels starting this month.

London -- Container ship charter rates are still falling despite the onset of the peak shipping season, as ocean carriers continue to trim capacity amid stagnant cargo volume on key deep-sea liner tra

The first deep-water container terminal serving Vietnam's southern commercial hub opened Friday, clearing the way for direct service to the United States to begin this week, APL said.

Maersk Line plans to upgrade its MECL1 and MECL2 services that cover the trade between the Middle East and Indian Subcontinent and the United States East Coast.

The Shipping Corporation of India will revive a vessel sharing agreement for India-Europe service that fell apart as a result of the downturn in trade volumes.

Undeterred by the GLOBAL RECESSION and declining container volumes, China is moving forward with its ambitious port development program.

Most Dangerous Waters

The Port of Charleston will get another weekly call by Mediterranean Shipping Co.

A group of German charter container ship-owners agreed to a $710 million rescue for CSAV, the financially troubled Chilean ocean carrier.

Zim Integrated Shipping reported first quarter net losses widened to $119 million from $29 million a year ago on weaker freight rates and a slump in cargo volumes.

NileDutch, a niche ocean container and multipurpose shipping line, has teamed up with Japanese shipping giant NYK to launch a new direct liner service linking Asia with South and West Africa.

Container line APL, saying earlier rate hikes haven’t been strong enough, said today it will raise freight rates starting in June on Asia-Europe lanes for the second time this year.

A.P.

MOL may take advantage of the glut of dry bulk tonnage to bid for an overseas bulk- shipping line as plunging demand and the global recession send company valuations tumbling.

Hamburg Süd and its Brazilian sister company Aliança said Monday they will upgrade their UCLA service between the east coast of South America, the Caribbean and Central America and the U.S

APL’s container volume and average revenue fell during the most recent four week reporting period, its parent Neptune Orient Lines said Monday.

NOL Group, parent company of ocean carrier APL, selected an office building in Phoenix, Ariz. as the new home for its regional headquarters in the Americas.

Helicopters from two nations thwarted an attack Friday by pirates in the Gulf of Aden. A U.S.

Maersk Line will implement a general rate increase for cargo moving on its services from India to Europe. Effective June 1, the increase will be $100 per container for dry cargo.

Drewry Shipping Consultants is warning against a false dawn in the dry bulk shipping sector.

Some investment analysts think the ocean shipping industry may be reaching the bottom of its downturn and have started recommending Asian shipping stocks.

Average spot rates collected by ocean carriers for a 40-foot container from Hong Kong to Los Angeles fell to a new low of $949 this week, down by 53.4 percent from $2,036 a year ago, according to data

Hanjin Shipping on May 20 officially opened its terminal facility at Busan, South Korea.

Ocean carriers in the Grand Alliance group are consolidating two of their Asia-based service loops amid steep rate declines on the Pacific.

Mediterranean Shipping Co. will phase out one of its five services from the Far East to the Mediterranean and Europe when it adds new 14,000-TEU vessels this month and in June.

Hanjin Shipping on May 19 took delivery of the Hanjin Monaco, a new 4,300-TEU vessel built by Samsung Heavy Industries.

On May 18, Executive Director Doug J. Marchand of the Georgia Ports Authority announced at its board meeting that vessels of China Ocean Shipping Company now are calling on the Port of Savannah.

Søren Thorup Sørensen, group chief financial officer of A.P. Moller-Maersk AS since 2006, said he will retire May 31 for personal reasons.

Maersk Line will delay the general rate increase on the North America to Mediterranean and North Africa trade.

Hanjin Shipping is increasing freight rates in its Asia-Mediterranean/North Europe trades beginning June 1.