Freight fall corners operators with costly charters
Crumbling container freight rates have taken their toll on the newer and smaller players in the liner shipping industry, as their current earnings are...
Yang Ming adds new 11,000 TEU container vessel
Yang Ming Marine Transport Corp. has added one new 11,000 TEU container vessel, namely YM Trillion, which is chartered from Shoei Kisen Kaisha, Ltd....
Cargo vessel capsizes and sinks at Turkish port
General cargo vessel Sea Eagle, which was loaded with containers, lost stability and tumbled over during offloading operations at Iskenderun port in Turkey on...
HMM and CEVA Logistics ink multi-year cooperation deal
South Korean ocean carrier HMM and French logistics firm CEVA Logistics have signed an agreement which is expected to strengthen and expand relations between...
Suez Canal Authority to apply increased transit tolls next year
The Suez Canal Authority (SCA) will increase the transit tolls for all types of vessels by 15% during the next year and by 10%...
Market report: “Container shipping market turns a corner … in lockstep?”
Global container shipping turned a corner in the second quarter of 2022 according to the findings of the latest Quarterly Review of the market...
COSCO introduces new eBL service
COSCO SHIPPING announced the launch of the new electronic bill of lading service, named "IQAX eBL", jointly with Bank of China, on 1 September...
Hapag-Lloyd buys 49% stake in Italian logistics group
The German container shipping company Hapag-Lloyd has agreed with Spinelli Group to acquire a 49% stake in the Italian logistics firm. The Hamburg-based box carrier...
Excessive carrier profits at risk as decline in spot rates prompts renegotiation of contract rates, reports Shifl
SHIFEX, a container spot freight rate index, recorded the lowest freight rate in 24 months between Shanghai, China and Los Angeles, US. The index shows...
Yang Ming chairman: Market correction is “temporary”
Yang Ming Marine Transport chairman Cheng Cheng-mount has asserted that the ongoing correction in container freight rates is just a blip and the market...
Major container lines make history with US$41.6 billion earnings in 2022 Q2
Danish maritime analysis company Sea-Intelligence looked at the financial and volume results posted by the major container carriers for the second quarter of the...
MSC could face default penalty in MCS’ FMC complaint
MSC is facing a default judgement from the US Federal Maritime Commission (FMC) in the complaint brought by US furniture maker MCS Industries, after...
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High speed and compromised manoeuvring caused Milano Bridge accident
The container ship Milano Bridge had failed to slow down as it attempted to berth in Busan New Port on 6 April 2020, causing...
Singaporean state investment firm Temasek mum on PIL bailout
The Singapore government’s investment company Temasek Holdings is remaining tight-lipped on market talk that it may take a stake in embattled liner operator Pacific...
Chinese shipyards win giant container ship order
Chinese shipyards will build six 24,232TEU containerships, the largest in the world as of today, that the Bank of Communications Financial Leasing (Bocomm Leasing)...
MSC Rosa M damages Mumbai crane
The 14,000TEU MSC Rosa M has hit and seriously damaged a crane at the DP World terminal in Nhava Sheva, NSIGT in Mumbai, while...
Taking the personal view for crew working on container shipping
Philip Eastell – Founder of Container Shipping Supporting Seafarers – describes the personal side of container operations at a time when crew, affected by...
