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Anthony and Nicolás Remain on Hapag-Lloyd Board

Photo: Hapag-Lloyd AG

 Hapag-Lloyd AG has announced the continuity in the executive management - Anthony J. Firmin remains COO and Nicolás Burr remains CFO.   The Supervisory Board of Hapag-Lloyd AG extended the Executive Board contracts of Anthony J. Firmin (COO) and Nicolás Burr (CFO) by two years until 30 June 2019 and 29 February 2020 respectively.

Hapag-Lloyd: Positive Operating Result in a Challenging Environment

Photo: Hapag-Lloyd AG

 Hapag-Lloyd AG remains bullish on the substantial earnings contribution from synergies from CSAV acquisition and OCTAVE cost-cutting programme alongwith further synergies expected due to the merger with UASC.   Hapag-Lloyd closed the 2016 financial year with EBITDA of EUR 607.4 million (previous year: EUR 831.

Hapag-Lloyd Says Prospects Buoyed by Rising Freight Rates

File photo: Hapag-Lloyd

German container shipping company Hapag-Lloyd expects increased operating earnings this year, it said on Friday, citing a rise in freight rates as market conditions improve.   The shipping industry has been grappling with a prolonged downturn brought about by overcapacity in a faltering global economy,

Baltic Index Rises to Over 4-month High

© Volodymyr Kyrylyuk / Adobe Stock

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, closed at its highest level in more than four months, helped by stronger rates across all vessel segments.   The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, ended up 44 points, or 3.

CMA CGM Rolls Out Asia-West Coast South America Offer

Map: CMA CGM

 CMA CGM has  announced the launch of the new service offer between Asia and West Coast South America, the most comprehensive offer on the market between these two strategic areas. CMA CGM will now offer to its clients: - 4 direct weekly services between Asia and West Coast South America and the Caribbean (NEW ACSA1,

CMA CGM Reshuffles Asia to Indian Sub-Continent Service

Map: CMA CGM

 CMA CGM has announced revamping of dedicated services to Indian Sub-Continent including India West Coast, Pakistan, and Sri Lanka (CIMEX 2N, CIMEX 2CS, and CIMEX 2K) as from mid April 2017 ex Asia.   CIMEX 2N [FI3 consortium]: Rotation : Xingang - Dalian - Qingdao - Busan - Kwangyang - Ningbo - Nansha

Doyle Urges 2M Partners to Honor Their Commitments

File photo: Hyundai Merchant Marine

Commissioner William P. Doyle of the U.S. Federal Maritime Commission (FMC) calls for honoring commitment to shipping public, American businesses and consumers.   In mid-December 2016, Maersk Line announced that, together with its 2M Alliance partner Mediterranean Shipping Company (MSC), it was entering

Crowley’s New STS Cranes Arrive in San Juan

Photo: Crowley

Three new ship-to-shore cranes that were constructed in Ireland were delivered to Crowley Puerto Rico Services’ Isla Grande Terminal in San Juan on Wednesday. The cranes are a key element of the $130 million Crowley is investing in infrastructure improvements to its Isla Grande Terminal, and their arrival marks the first time new,

Baltic Index Inches Up on Firmer Panamax Rates

Photo: FotoFlite / DS Norden

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, edged up on Thursday as panamax rates increased. The overall index, which also factors in rates for capesize, supramax and handysize vessels, closed up 6 points, or 0.5 percent, at 1,196 points. The panamax index jumped 51 points, or 4.

Deck Carrier BigRoll Beaufort Delivered

BigRoll Beaufort (Photo: BigRoll Shipping)

The heavy marine transportation provider BigRoll Shipping has reached a milestone. The fourth and final MC Class vessel for BigRoll shipping was handed over by Cosco Dalian Shipyard Co. Ltd to new owner BigRoll Shipping in Leiden, the Netherlands.   BigRoll Beaufort completes this unique series of four identical deck carriers.

Nakilat Transitions LNG Mesaimeer to In-house Management

Photo: Nakilat PR

Nakilat has assumed full ship management and operations of Q-Flex LNG carrier Mesaimeer from STASCo (Shell Trading and Shipping Company Ltd.) with effect from March 23, 2017, as part of the planned and phased transition announced on October 19, 2016.  With a cargo carrying capacity of 216,312 cubic meters,

Rotterdam Port Signs MoU with Brazilian Port of Pecém

Map: The port of Rotterdam

 Port of Rotterdam signs a ‘memorandum of understanding’ (MoU) with the State Government of Ceará with the purpose to jointly study a potential cooperation. This may lead to the joint venture Industrial Port Complex of Pecém.   The MoU is consistent with the Port of Rotterdam Authority’s foreign policy

Mumbai Harbour Channel and JN Port Channel to Expand

Indian Prime Minister Narendra Modi. Photo: PIB

 The Cabinet Committee on Economic Affairs, India chaired by the Prime Minister Narendra Modi here on Wednesday approved fresh estimates of the project Deepening and Widening of Mumbai Harbour Channel and JN Port Channel (Phase-II).   The cost of the project will be Rs 2029 crore excluding the Service Tax.

Alliance Reshuffle Could Limit Freight Forwarding Options

File photo: OOCL

iContainers, the 100 percent online freight forwarder, says that the new shipping alliances set to come into effect next week will lead to a shortage of options for freight forwarders. Starting April 1st, the previous four alliances will be regrouped to three - THE Alliance, OCEAN Alliance and 2M.   According

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