EU Ambassadors Visit Peru’s Largest Multipurpose Terminal
APM Terminals Callao hosted an EU delegation of ambassadors representing 12 EU member states. Led by the EU Ambassador in Peru, Diego Mellado, the visit was of special interest as annual trade between the EU and Peru is more than $10 billion, 60% of which are exports from Peru to the EU. The trade agreement between the EU and Peru celebrated its fifth anniversary this year- and this month, the Lima Chamber of Commerce and Peru Eurocámaras signed an agreement to centralize EU efforts to promote economic development and investment.
NWSA’s Export Volumes Grew in April
April exports at the ports of Seattle and Tacoma were up 3.3 percent at 112,645 TEUs (20-foot equivalent units) amid rising trade tensions. At 111,858 TEUs, import volumes through the ports, which together comprise the Northwest Seaport Alliance, were down 5.2 percent from the prior year volumes.Total international container volumes, at 224,503 TEUs, decreased 1.1 percent from April 2017. Total container volumes declined 1.1 percent in April 2018 compared to April 2017 for a total of 279…
Haulio Raises $1.1m in Investment
Singapore’s home-grown container haulage start-up Haulio has raised S$1m in seed round investment, led by PSA unboXed together with 500 Startups, NUS Enterprise and several logistics industry angel investors in May 2018. This seed funding comes after their previous pre-seed round of S$75,000 from returning investors PSA unboxed and NUS Enterprise, which is the sole prior funding round raised by Haulio. Haulio which was previously incubated by PSA unboXed, will be using this fresh injection of funds for rapid scaling of the business and targets…
Vietnam Opens Haiphong International Container Terminal
Mitsui O.S.K. Lines has announced that its joint venture company Haiphong International Container Terminal held an opening ceremony for the new Haiphong International Container Terminal (HICT) at Lach Huyen Port, Vietnam on May 13. HICT is the first terminal in Northern Vietnam with a berth deep enough to allow calls by 14,000TEU containerships. It will meet customer demands for shorter transit times and lower transport costs, while contributing to economic growth in Northern Vietnam…
DP World Jeddah Upgrades to Navis N4
Navis, a part of Cargotec Corporation, announced that DP World Jeddah has upgraded from Navis SPARCS to N4 3.5 terminal operating system (TOS). The implementation of the updated TOS is a move by the terminal to leverage the latest technology to meet continuous customer service demands and address the need for increasing operational support as incoming cargo volume rises. DP World operates the South Container Terminal (SCT) at Jeddah Islamic Port, a crucial link in the world’s busiest East-West trade routes through the Red Sea and catering to a rich domestic cargo base.
Maersk: Disappointing Q1 Earnings Hit Share Price
A.P. Moller-Maersk missed first-quarter profit expectations on Thursday and warned that political and trade tensions clouded the outlook, sending shares in the world's biggest container shipper sharply lower.Earnings before interest, tax, depreciation and amortization (EBITDA) for the three months to March 31 rose 5 percent to $669 million but came in well below the $852 million forecast by analysts in a Reuters poll.Chief Executive Soren Skou called the result "unsatisfactory"…
First-Quarter Returns From the Universal Port of Hamburg
This year’s first-quarter throughput total at the Port of Hamburg was notable for a rise in conventional general cargoes, a lower figure of bulk cargoes, a stable trend in container handling and distinct growth on container transport services by rail.In the first quarter of 2018, the Port of Hamburg achieved total throughput of 32.7 million tons (down 7.5 percent). In Hamburg this heading covers general cargo throughput of 22.7 million tons (down 1.8 percent) and bulk cargo throughput of 10.0 million tons (down 18.2 percent).
Top Container Shipping Lines Reviewing Iran Operations
The world's top two container shipping groups Maersk Line and MSC are reviewing their Iran operations after the United States withdrawal from the international nuclear agreement with Tehran.The 2015 agreement, worked out by the United States, five other world powers and Iran, lifted sanctions on Tehran in exchange for limits to its nuclear program.U.S. President Donald Trump also instructed his administration to re-impose U.S. sanctions after a winding down period."MSC is reviewing its services…
Kutubu Light Crude Oil Exports to Resume in Spot Trade
Sales of Kutubu Light crude oil cargoes will resume in the Asia spot market in July after a major earthquake in Papua New Guinea shut production from late February to early April, three industry sources said on Monday.While production at the facility resumed in early April, producers of the light crude oil have been trying to meet previously committed cargoes to buyers which had been delayed due to the earthquake, one of the people said.The sources declined to be identified because…
Tough Recovery Ahead for Some Box Trades; More Uncertainty in Others
Drewry says that recovering demand recovery in the North America-East Coast South America box trades provides encouragement, but local political conditions bear watching. Elsewhere, reports that Maersk and MSC are reviewing their Iran operations underpins broader political uncertainties that could get in the way. North America-East Coast South America box tradesMaritime Research Consultancy Drewry is reporting that the headhaul East Coast South America to North America trade fell by 1% in the first quarter 2018 to 137,000 teu.
Container Shipping Line MSC Stops New Iran Bookings
The world's No. 2 container shipping line MSC said on Wednesday it would stop taking new bookings for Iran due to the decision by the United States to re-impose sanctions on Tehran after withdrawing from the international nuclear deal. In a note to clients, privately held MSC said it was "ceasing to provide access to services to and from Iran", adding that they would "conclude this period with the minimum disruption" to their customers' business. "While MSC is not accepting bookings for shipments originating from Iran…
SWIVEL unveils a Logistics Control Tower
SWIVEL Software announced, at the 3PL Value Creation Asia Summit in Hong Kong, the launch of SWIVEL 360, a Logistics Control Tower that can provide both visibility and transparency between all parties in the supply chain. With SWIVEL 360, all parties can get real time alerts and search the status of a shipment based on SKU or item code, purchase order, bill of lading, container, or customer. The collaboration portal also allows simple tasks as searching airline and sailing schedules, communication with factories overseas, booking freight to logistics partners/carriers, and much more.
One Million Ship Containers Missing after P&R Insolvency
Maersk Line Rolls out Exclusive Transatlantic Service
Maersk Line, the world's largest shipping company, announced the expansion of its product portfolio between Europe's Mediterranean region and Canada to cater for the growing demands of importers and exporters on both sides of the Atlantic. The exclusive, fully Maersk Line-operated weekly service will be a five-vessel rotation stopping in Salerno and La Spezia (Italy), Fos-sur-Mer (France), Algeciras (Spain), Montreal and Halifax (Canada), and Valencia (Spain). Other Mediterranean…
Meet the Digital, Zero Emission Cargo Solution
Kalmar, part of Cargotec, and Yara entered into an agreement in which Kalmar will deliver fully autonomous equipment, software and services for a unique, fully digitalized container handling solution at Yara's Porsgrunn facility in Norway. This means that all the necessary operations related to the world's first autonomous and electric container vessel Yara Birkeland will be conducted in a fully autonomous and cost efficient manner, with zero emissions. The order was booked in…
Ocean Network Express Calls APM Terminals Mumbai
NYK ARTEMIS, part of Ocean Network Express’s (ONE) PS3 service made its maiden call at APM Terminals’ Gateway Terminals of India (GTI) offers connectivity to the Far-east Asian ports along with United States West Coast ports of Oakland and Los Angeles. This is the first call by the newly established ONE line to Mumbai’s Nhava Sheva terminal. ONE was established in 2017 by the integration of three Japanese shipping companies - Kawasaki Kisen Kaisha Ltd ("K" Line), Mitsui O.S.K. Lines Ltd (MOL) and Nippon Yusen Kabushiki Kaisha (NYK).
Maersk Line Introduces Bunker Surcharge
The world's largest container shipping company Maersk Line is increasing prices because of a surge in the cost of bunker fuel. The shipping fuel has become increasingly costly as global crude oil prices have returned to peaks not reached since 2014, lifted by the United States' exit this month from the landmark nuclear deal with Iran and imposed sanctions against the OPEC member. Now Maersk has decided to introduce a so-called "emergency bunker surcharge", taking effect from June 1.
CMA CGM Sets Surcharge to Offset Fuel Price Surge
French shipping group CMA CGM said on Friday it would introduce an exceptional surcharge after its first quarter earnings were hit by a sharp rise in bunker fuel prices.The move comes after Maersk Line, the world's largest container shipping company, announced a similar "emergency bunker surcharge" earlier on Friday.CMA CGM, one of the world's biggest container lines, did not detail the amount of the surcharge, nor the date of its implementation.Oil prices hit their highest since late 2014 at $80.50 a barrel this month…
Container Ship Capsizes in E. China Sea
Rescuers have retrieved 11 bodies and are searching for two missing crew members after a container ship sank off east China. The Beihai Rescue Bureau of the Ministry of Transport dispatched two rescue vessels and a helicopter to the seawater area 40 nautical miles northeast of Longkou, Shandong Province, after the ship with 14 aboard capsized. One crew member, who had lost consciousness, was rescued by the helicopter. The container ship "Guangyangxingang" was on voyage from the northern coastal city of Tianjin, in the Yellow Sea, to Taizhou in eastern Zhejiang Province.
Maersk Cuts Growth Forecast
Though the Danish conglomerate AP Møller-Maersk posted higher-than-expected earnings, it has cut its forecast for global trade growth and abandoned several medium-term profit forecasts, as per a report in FT. Maersk overcame low oil prices and freight rates in its container shipping business to post a 7 per cent fall in underlying net profit in the second quarter at $1.1bn, which was well ahead of analysts’ expectations of $820m. The world’s biggest container-shipping operator by capacity adapts to persistently low crude prices and stiff competition in the cargo market.
New BoxTech Container Database Upgraded
BoxTech, the database of technical details for containers, has introduced a number of new functions which will help shippers save time, and enable equipment owners to register container sales and flag units with exception alerts. Two of top three global carriers are already using the new features. The fast-growing database, which is provided by the Bureau International des Containers (BIC) and already includes the technical characteristics of more than 30 per cent of the global container fleet, is continually evolving to meet the needs of the shipping industry.
APL Launches Container Tracking Mobile App
APL has launched a mobile application to help shippers track containers from place of loading to delivery destinations. APL Box Track, available for download from both the Apple iTunes and Google Play stores, is designed to offer convenience and visibility, allowing APL shippers to trace and track their containers while on the go. Its intuitive interface enables users to bookmark their queried container number for a one-touch access after an initial search. Additionally, search results on the APL Box Track application can be shared over emails…
Debris Appears to Belong to Cargo Ship Missing in Bahamas
Search and rescue teams on Sunday located debris which appeared to belong to the cargo ship El Faro that went missing in the eye of Hurricane Joaquin with 33 mostly American crew members aboard, the U.S. Coast Guard and the ship's owner said. Life jackets, containers and an oil sheen were spotted by U.S. Coast Guard aircrews flying over the Bahamas on the third day of their search for the container ship. There had been no sighting of the El Faro or any life boats, Tote Maritime Puerto Rico president, Tim Nolan, said in a statement.
Search for El Faro Crew Continues, Hopes Fading
Responders continue the hunt for possible survivors from the missing cargo ship El Faro, which is believed to have sunk during Hurricane Joaquin. As of Tuesday night, crews have searched some 172,257 square nautical miles while scanning in the vicinity of the ship's last known position 35 nautical miles northeast of Crooked Islands, Bahamas, the Coast Guard reported. A decision on how much longer the search will continue could be announced on Wednesday afternoon, the Coast Guard said.
Container Shippers Raided in S.Africa over Suspected Collusion
Six of the world's biggest container shipping companies were raided by South African authorities on Wednesday on suspicion of colluding to inflate rates between Asia and South Africa, the country's Competition Commission said. The development comes as global container lines struggle in the worst-ever market conditions, caused by a glut of ships and slowing global trade, which has battered earnings and forced at least one out of business. The six companies raided comprise local subsidiaries of Denmark's Maersk…
Container Shipping Struggles with Overcapacity: McKinsey
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 and potential role in the continuing industry consolidation will be. While mergers will continue, they do not need to be feared, just managed—and the guidelines in this report provide a starting point.