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SM Merchant Marine plans to use proceeds from its planned initial public offering in the second half of 2021 to expand its vessel and container fleets. The company plans to continue expanding its intra-Asia reach by joining the K-Alliance, a code-sharing arrangement involving South Korean liner operators’ intra-Asia services. Due to this, the company wants […]
11
May
May
Three of the largest container lines in the world have announced a substantial number of rate increases to be implemented later in May and in early in June. One of the lines, the German carrier Hapag-Lloyd, will apply several general rate increases (GRI) in the coming weeks. The Hamburg-based line will implement a GRI of […]
11
May
May
European Union has agreed funding for up to 10 pilot projects in sustainable and smart supply chains through port operations with 45 companies involved in the development of the projects. The series of research projects are called MAGPIE, sMArt Green Ports as Integrated Efficient multimodal hubs and will run for a period of five years. […]
11
May
May
Insurers of the impounded Ever Given vessel remained unconvinced by the public statements made by the Suez Canal Authority (SCA), which is claiming US$916 million for losses following the grounding and blockage of the waterway for six days in March. The SCA filed a lawsuit making the claim for damages soon after the vessel was […]
08
May
May
Bottlenecks in key regions such as the Los Angeles port complex and North European ports, exacerbated by the Suez Canal blockage and container shortages have seen growing congestion along supply chains. Project44 VP marketing at project44 Josh Brazil argues the industry must learn lessons from the events of the last year. Congestion at ports around […]
07
May
May
Global non-vessel operating common carrier (NVOCC), CargoGulf has announced the launch of a new container liner service between North Asia and the Arabian Gulf, which is called North Asia Gulf Express (NAGE) service and complements its Arabian Gulf to Asia (AGA) service serving trade to/from Southeast Asia introduced last year. The new service will offer […]
07
May
May
Demand for cargo on major trade lanes has increased substantially and the returns to the shipping lines and vessel owners have also increased with billions of dollars-worth of profits reported for the first quarter of this year by the lines and as the demand and profits have risen so have time charter rates and vessel […]
07
May
May
Evergreen Marine Corporation achieved a TW$16.17 billion (US$567.13 million) net profit for Q1 2021, reversing the TW$733.15 million (US$24.24 million) net loss in Q1 2020. Revenue was up 35% to TW$64.69 billion (US$2.27 billion), according to preliminary unaudited figures disclosed on 6 May. Despite concerns that the grounding and subsequent detention of the Evergreen-operated Ever […]
07
May
May
A Covid-19 cluster has emerged in Singapore’s container port, after a trailer driver tested positive, leading to fears that the virus could have spread through the port. Singapore’s Health Ministry announced on 6 May that it is testing port workers, after a trailer driver, who worked at Brani and Pasir Panjang Terminals, tested positive for […]
05
May
May
China’s Wenzhou continues to build overseas container shipping links, with SITC Container Lines launching a service connecting the port to the Philippines. On 1 May, the 2,700TEU SITC Port Klang departed Wenzhou with containers bound for Subic, Manila North, Cebu and Makassar in the Philippines. This is Wenzhou’s seventh overseas route so far and is […]
