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DANISH shipping giant Maersk has an upbeat outlook on the year ahead and unlike other carriers expresses little fear about overcapacity as new tonnage floods the market worldwide. Maersk route network chief Jorgen Harling told Reuters that he sees a well-balanced market, despite forecasts of a nine per cent increase global capacity...
Japanese carrier MOL expects improved results from container shipping to push the group's ordinary income "much higher" than the $1.2 billion previously forecast for the current fiscal year. Container shipping profit is "a powerful positive factor" in the improved outlook, MOL President Koichi Muto said in his new year's message to MOL employees. MOL...
Ship owners and operators are betting their future profitability on super-sized container ships and must delay deliveries of additional vessels to avoid overcapacity and plunging rates, a European shipping bank warns in a research report. Super-post-Panamax container ships -- vessels with capacities of at least 8,000 20-foot equivalent units - "are beco...
It was difficult to feel relaxed about the shipping market when the supply and demand balance for vessels was considered, said Mitsui OSK Lines president Koichi Muto. The MOL boss was referring to the number of new ships that have entered the market or will be delivered this year. While the other two giant Japanese carriers, "K" Line and NYK reduced the...
SINGAPORE's Neptune Orient Lines (NOL) chief executive Ron Widdows sold 27 per cent of his stock in the company on December 29, earning US$341,000 at $1.71 a share, reported London-based Tradewinds. Mr Widdows sold 200,000 NOL shares, the company declared in a filing to the Singapore Exchange. The sale was made after NOL stock reached yearly high at th...
THE world largest container lines have increased their tonnage afloat by 14 per cent in the last year while others sailed from near bankruptcy to profitability, according to Paris-based Alphaliner. Four carriers were on the brink of bankruptcy in 2009, CMA CGM, Hapag-Lloyd, CSAV and Zim, but all staged amazing comebacks and have continued to gain market...
THE Canada Transpacific Stabilisation Agreement (CTSA) has announced its member lines will keep its currency adjustment surcharge at seven per cent through February. The surcharge was raised to seven per cent on December 1. CTSA, whose lines provide service between Asia and Canada, reviews its currency surcharge monthly, typically one month ahead of whe...
SINGAPORE's China Navigation Company (CNCo), has placed an order for eight 2,082-TEU multipurpose ships, each of 31,000 deadweight tons, from Zhejiang Ouhua Shipbuilding south of Shanghai for US$300 million or $37.5 million per ship. The contract for the ships, to be delivered between January and August 1913, includes options for another eight in two b...
Port of Tallinn is the biggest port authority in Estonia and as far as both cargo and passenger traffic are taken into account, the biggest port on the shores of the Baltic Sea.
Qingdao Saint Voyage Logistics Inc. (SVL) is an Experienced International Shi
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