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Container Ships

Ocean Shipping Slows Down as Pandemic Pummels Retailers

Image Credit: STOCKSTUDIO

The $1 trillion container shipping industry is in a slowdown. Literally.Some shipping lines, whose retail customers are being hammered by the coronavirus pandemic, are reducing sailing speeds and taking longer routes around Africa, avoiding Suez canal passage fees, according to the companies and ship-tracking specialists.

Japan's NYK Line Sees COVID-19 Cutting Profit by $557M

Illustration by Magnifier / AdobeStock

Japanese shipping company Nippon Yusen KK expects the coronavirus pandemic to reduce its recurring profit by 50-60 billion yen ($464 million-$557 million) for the year to next March, an executive said on Monday."Our assumption is that the worst impact from the pandemic will be seen in the April-June quarter,

Seaspan Selects Alfa Laval's Steam Solution

Alfa Laval Aalborg boiler to be installed on a Seaspan container vessel as part of a steam solution to support the use of sulphur-compliant fuel  (Photo: Alfa Laval)

Seaspan Ship Management selected Alfa Laval to help resolve steam balance and redundancy issues connected to sulfur-compliant fuels. The solution – an integrated steam boiler plant comprising oil-fired steam production, waste heat recovery, advanced control and connectivity – will be implemented on eight Seaspan-owned large container ships.

Pirates Release 11 Crew, Hold 7 Hostage off Benin

© Andrea Ferrando/ MarineTraffic.com

Pirates attacked a Portugal-flagged ship and kidnapped its Bulgarian captain and seven sailors off the coast of Benin, Bulgaria's foreign ministry said on Tuesday.A ministry statement said the pirates who boarded the Tommi Ritscher container ship at the port of Cotonou in the Gulf of Guinea on Sunday had released 11 other members of the crew.

Mackay Marine Open for Business in the U.A.E.

Photo: Mackay Marine

Mackay Marine announced the opening of its newest marine electronics service center, in Fujairah, U.A.E., located on the east coast of the Gulf of Oman.Mackay Marine–UAE provides Comm & Nav electronics sales and service to vessels in ports throughout the U.A.E., including Fujairah, Jebel Ali, Dubai, Sharjah, Port Saeed, Khorkakkan, etc.

Diego Aponte: MSC CEO Offers Insight on COVID-19 Impact

Photo: MSC

In an open letter posted on the MSC website, MSC Group President & CEO Diego Aponte offered public comment and perspective on the COVID-19 situation for MSC's cargo business. “The spread of COVID-19 has created a public health issue unprecedented in our lifetimes, triggering an unexpected shock for societies and economies,” said Aponte.

Contracted Rates to Fall Long-term Due to Conoravirus -Xeneta

Patrik Berglund (Photo: Xeneta)

The container shipping segment appears to have caught coronavirus, with the industry suffering its first monthly fall in long-term contracted ocean freight rates since October 2019. According to the latest XSI Public Indices report from Xeneta, March 2020 saw a small dip of 0.5% in rates after a sustained period of growth.

Hapag-Lloyd Advises that Coronavirus to Slow Growth through H1

© Stefan Loss/AdobeStock

German container shipper Hapag-Lloyd on Friday said the coronavirus outbreak would curb business growth at least until mid-year after reporting a jump in 2019 profit and proposing a higher dividend.Larger rival Maersk on Friday also warned of a first-quarter hit from the outbreak and suspended its 2020 earnings outlook.

Evergreen Line Launches New Digital Platform

Image: Evergreen Line

Taiwanese container transportation and shipping company Evergreen Line has launched a new digital platform designed to provide customers with seamless booking capabilities and greater access to integrated trade services.Evergreen Line said in a press note that GreenX platform provides a digital portal

Seaspan Buys Boxships Quartet

Image: Seaspan Corporation

Hong Kong-based owner and manager of containerships in the world Seaspan Corporation has agreed to purchase a fleet of four containerships for approximately $367 million in cash.The ships include four 12,000 TEU vessels, with three built in 2018 and one built in 2017. The vessels, once delivered, will

Coronavirus to Hit Earnings: Maersk

Image: A.P. Moller - Maersk

Global integrated container logistics company A.P. Moller - Maersk posted improved earnings and free cash flow for 2019, despite weaker market conditions and global container growth of only 1.4 percent.However, the Danish business conglomerate said that the coronavirus (COVID-19)  would hit its

Global Container Demand to Grow by 1-3% in 2020

Image: A.P. Moller - Maersk

For 2020, global container demand is projected to grow by 1-3%, as per forecast by A.P. Moller - Maersk.The continued weak global sentiment above all in the manufacturing sector reduces the likelihood of a material growth pick-up in 2020, although sentiment brightened a bit at the end of 2019, and some

NWSA January Container Volumes Drop

Photo: NWSA

The Northwest Seaport Alliance’s total container volume for January 2020 was 263,816 twenty-foot equivalent units (TEUs), a 19.1% decrease from January 2019.Following an unprecedented international container throughput for the same month last year — tied to shippers moving cargo ahead of tariffs,

Hamburg Süd Invests in the Mediterranean

(Photo: Hamburg Süd)

Hamburg Süd is now exclusively represented by its own offices in Italy and Spain after business was previously partially handled by agents and joint-venture organizations. Furthermore, in Egypt the company has taken full management of Hamburg Süd Egypt.“We are thereby investing in the

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