Container lines

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.

Effective July 1, 2009, ANL will be implementing a General Rate Increase (GRI) in the southbound trade for both dry and reefer cargo from the U.S.

The three carriers that remain in the Grand Alliance following the withdrawal of MISC Berhad said today that its departure would have no effect on the alliance’s trans-Pacific or trans-Atlantic

HHLA, Hamburg's biggest container stevedore, reported operating profit in the first quarter plunged 45 percent as box traffic slumped 32 percent from a year ago.

Malaysian container carrier MISC Berhad issued a notice to its partners in the Grand Alliance that it intends to withdraw from the group as of Jan. 1, 2010.

Yang Ming Line and Orient Overseas Container Line plan to upgrade their jointly-operated China-Pakistan-Express (CPX) Service, effective May 21.

Norwegian shipping billionaire John Fredriksen has failed to oust the chairman of TUI and launch a probe into the company's recent sale of its ocean container carrier Hapag-Lloyd.

The head of maritime operating giant China Shipping says broad industry indicators suggest the ocean container market will improve in the second half of 2009.

London - Eimskip, Iceland's ailing container shipping and refrigerated logistics company, is selling a majority stake in Containerships, the Finnish short sea box carrier.

DFDS, a leading short-sea shipping line, reported earnings fell 44 percent in the first quarter of 2009 from a year ago as freight volume fell by as much as twenty five percent on its north European r

A. P. Moller-Maersk today announced the promotions of three of its executives in the management of Maersk Line and Safmarine, its container and breakbulk subsidiaries.

Three former Horizon Lines officials and one former Sea Star Line manager were sentenced Tuesday in Jacksonville, Fla., to prison terms ranging from seven to 34 months for their roles in a price-fixin

A.P.

Neptune Orient Lines said today it lost $245 million in the first quarter of 2009, compared to the profit of $121 million for the same period of 2008.

Hanjin Shipping said Friday that it swung to a loss in the first quarter of the year mainly due to lower freight rates and reduced international trade.

Singapore-based Pacific Shipping Trust expects to maintain revenue in its second quarter as it is not planning to buy any ships, but it may face lowered charter rates for two of its vessels.

Malaysian carrier MISC Berhad posted a 76 percent drop in profit for its fourth fiscal quarter ended March 31.

Maersk Line and CMA CGM said they will start a new joint service linking North Asia and Black Sea on May 20.

Hapag-Lloyd, the German container shipping line, swung to a loss of $302 million in the first quarter of 2009 from a $24.5 million profit a year ago on double digit declines in cargo volumes and freig

Orient Overseas Container Line, Tokyo Senpaku Kaisha and COSCO Container Lines agreed to operate a new joint service, the Middle East Express.

Container ship charter rates plunged to historic lows and are set for further steep falls in the coming weeks as ocean carriers prepare to return scores of hired vessels to their owners in a bid to sh

Somali pirates hijacked the MV Victoria Tuesday afternoon off the southern coast of Yemen for the second time in a year.

The U.S.

Maersk Line, extending its bid to reverse a slide in ocean pricing, today announced rate increases on its services from Northern Europe to North Africa and the Mediterranean as well as from Asia to th