Maritime

Ocean carriers Maersk Line, CMA CGM, Hapag-Lloyd and MOL issued general rate increases on multiple trades.

Ocean carriers Maersk Line, CMA CGM, Hapag-Lloyd and MOL announced general rate increases.

Air France-KLM names new CEO, while UPS appoints corporate controller and investor relations officer.

China COSCO Holdings Co. Ltd., which now includes the combined operations of China Shipping Container Lines Co., reported losses in both its container shipping and dry bulk operations during the first quarter as rates in both segments plummeted.

More than 100 neopanamax ships have already made reservations to transit the waterway’s new larger locks following the historic inauguration and first voyage, according to the Panama Canal Administration.

The European Union competition watchdog said a trustee will monitor both companies to ensure there is no information sharing between the Ocean3 and G6 ocean carrier alliances, of which CMA CGM and Neptune Orient Lines subsidiary APL are currently members.

Scales currently used to comply with federal and state laws are acceptable for complying with the new International Maritime Organization container weight regulations due to go into effect July 1, according to the U.S. Coast Guard.

The Shanghai Containerized Freight Index rose from a reading of 457.70 last week to a reading of 603.64 this week, as rates from Shanghai to North Europe and the Mediterranean posted sharp increases.

The International Transport Workers Federation is claiming that a new study raises questions about the safety of navigation in the Central American waterway, while the Panama Canal Authority says the report’s claims are unproven and contain errors.

The Chinese Ministry of Commerce on Friday unconditionally approved FedEx’s $4.8 billion acquisition play for Netherlands-based global package delivery firm TNT Express.

Korea Development Bank met Friday with the Export-Import Bank of Korea, Nonghyup, KB Kookmin, KEB Hana, Woori and Pusan Bank, and agreed to make a decision regarding the future of the struggling shipping conglomerate by May 4.

Less-than-truckload holding company YRC Worldwide saw operating income during the first quarter rise compared to a year prior, while operating revenues declined.

Although activity slowed in the first quarter, total deal value for mergers and acquisitions in the transportation and logistics sector was still up 26 percent compared to first quarter 2015, according to a new report from PricewaterhouseCoopers.

Less-than-truckload carrier Old Dominion Freight Line also experienced weak revenue growth of 1.6 percent year-over-year for the first quarter of 2016, reflecting an economy that remained sluggish and the impact of a 23.3 percent drop in fuel surcharges.

The container terminal operator posted a cargo throughout of 15.5 million TEUs at its container terminals in the first quarter of 2016, a 2.4 percent increase from the same 2015 period on a like-for-like basis.

The tank barge operator posted net earnings attributable to shareholders of $38.1 million on revenues of $458.7 million, year-over-year drops of 37.6 percent and 21.9 percent, respectively.

The United States imported 2.57 million net tons of steel in March, a 12.8 percent increase from February, but a 28.4 percent decline from March 2015, according to figures from the American Institute for International Steel.

The European Union competition watchdog said a trustee will monitor both companies to ensure there is no information sharing between the Ocean3 and G6 ocean carrier alliances, of which CMA CGM and Neptune Orient Lines subsidiary APL are currently members.

North America now accounts for half of ZIM’s container-shipping business.

   Approaching two years as chief executive officer of Hapag-Lloyd, Rolf Habben Jansen has expressed satisfaction with the German carrier’s 2015 results and  sees some encouraging signs on the horizon.    Last year swung to a net profit of 114 million euros ($127.5 million) from a loss of 604 million euros ($675.6 million) in 2014.    He attributed the […]