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Container Ships

AP Moller-Maersk Planning Roadshow ahead of Euro Benchmark

File Image: A Maersk boxship alongside and working cargo. CREDIT: HR Wallingford

A.P. Møller - Mærsk A/S rated Baa2/BBB (on review for possible downgrade/CreditWatch negative) by Moody's/S&P, the integrated transport and logistics company, has mandated Barclays, Danske Bank, HSBC, MUFG and SG CIB as Joint Bookrunners to arrange a series of fixed income investor meetings in Europe commencing on the 28th of February 2018.

DP World Accuses Djibouti of Seizure of its Dorelah Port

File Image: a typical DP World terminal.

Dubai-based port operator DP World accused Djibouti of illegally seizing control of Doraleh Container Terminal on Thursday, after the Djibouti government said it was unilaterally terminating DP World's contract to run the terminal.   "The Government of Djibouti today illegally seized control of the Doraleh Container Terminal,

Djibouti Ends Dubai's DP World Contract to Run Container Terminal

Photo: DP World

Djibouti has ended a contract with Dubai's DP World, one of the world's biggest port operators, to run its Doraleh Container Terminal, the president's office said on Thursday.   "The Republic of Djibouti has decided to proceed with the unilateral termination with immediate effect of the concession contract awarded to DP World,

Tacoma’s Giant Container Cranes to Arrive this Week

The 761-foot-long heavy-lift ship Zhen Hua 28 transports the first four of Tacoma's eight new super-post-Panamax cranes (Photo: The Northwest Seaport Alliance)

A heavy-lift ship carrying four of the U.S. West Coast’s largest container cranes is scheduled to travel through Puget Sound on February 23.   Puget Sound Pilots are scheduled to board the Zhen Hua 28, a 761-foot-long heavy-lift ship, early Friday morning in Port Angeles and begin the journey to Tacoma.

Container Fleets & Demand Growing in Step -BIMCO

© Mihai Andritoiu / Adobe Stock

For 2018, the world containership fleet is expected to grow in step with global demand, according to BIMCO’s latest container shipping market outlook.   Demand Having experienced falling freight rates from August to year-end in 2017, most liner companies were successful in pushing rates higher in early January 2018.

Global Ship Lease Extends Charter with OOCL

OOCL Qingdao. Photo: OOCL

 Global Ship Lease, a containership charter owner, today announced that it has agreed to an extension of its charter with OOCL for the OOCL Qingdao, a 2004-built, 8,063 TEU containership.    The extension commences in direct continuation of the current charter with effect from March 11, 2018, at a fixed rate of $14,000 per day.

iContainers to Represent Spain at 4YFN

Photo: iContainers

iContainers, a 100% online freight forwarder, has been chosen as one of the 32 most innovative and disruptive companies to represent Spain at the Spanish pavilion at this year’s 4YFN (4 Years From Now), a business platform for startups that’s being held in conjunction with the Mobile World Capital in Barcelona from February 26 to 28 this year.

Maersk to Compete with UPS, Fedex

File Image: The Madrid Maersk, a 20,000+ TEU Box ship (CREDIT: Maersk)

A.P. Moller-Maersk plans to expand its transport and logistics business to compete directly with package delivery companies UPS and Fedex as part of a major restructuring, its chief executive said Tuesday.   Maersk, the world's largest container shipping company, has sold off the majority of its energy

Hedge Funds Hook Shipping Stocks Grappling for Recovery

Emerging recovery for segments of global shipping industry; Nordic American Tanker and Dryships Inc among popular stocks.   Shipping stocks may still be in the doldrums in the view of many investors, but hedge funds have bet at least $675 million on signs of renewed buoyancy in the industry.   Hedge

Port of Los Angeles Moves 808,728 TEUs in January

file Image: The port of Los Angeles (CREDIT Adobestock / (c) Ginton)

Last  month was the second busiest in the Port's history.   The Port of Los Angeles handled 808,728 Twenty-Foot Equivalent Units (TEUs) in January 2018, the second-busiest January in the port’s history behind last January’s record of 826,640 TEUs. While a slight decrease compared to last January’s record,

Diana Sells Containership New Jersey

Diana Containerships Inc. (NASDAQ: DCIX) announced that it has signed, through a separate wholly-owned subsidiary, a Memorandum of Agreement to sell to an unaffiliated third party the 2006-built vessel “New Jersey” for demolition, on an “as is where is” basis, with delivery due to the buyer by mid-March 2018, for approximately $9.

Container Shipping Struggles with Overcapacity: McKinsey

Graphics: McKinsey & Company

 The container shipping industry is expected to continue to struggle with overcapacity and an inability to deliver value to shareholders, warns consultancy McKinsey & Company in its latest report.   As container lines search for successful paths forward, they need to first determine what their strategy

Dry Bulk, Container Markets Strengthened in 2017: Torvald Klaveness

Photo:  Torvald Klaveness

 The tanker market remained subdued, while the dry bulk and container markets strengthened during 2017, said Norwegian shipping company Torvald Klaveness.   Torvald Klaveness managed to improve its financial results in 2017, but they “were still not at a satisfactory level”, Torvald Klaveness said.

Rotterdam Port in Container Shipping Partnership with Barge Terminal Tilburg

From left to right: Wil Versteijnen (BTT), Emile Hoogsteden (Port of Rotterdam) and Luc Smits (CCT). Photo: Port of Rotterdam Authority

 Barge Terminal Tilburg, Combined Cargo Terminals, Moerdijk Container Terminals and Danser Group have joined forces, agreeing to combine cargo along the route between Tilburg, Moerdijk and the port of Rotterdam.    This allows them to cut back on the number of vessels required – resulting in less

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