After two very profitable years for the shipping lines, the market is shifting into a post-pandemic normality, as reported by Sea-Intelligence. More specifically, while the fourth quarter of 2022 gave a first glimpse into what this might look like, the first quarter of 2023 was the first quarter where the carriers’ operating profits took a […]

Photo of seized boxes of kratom / Source: Taiwan’s Ministry of Justice Investigation Bureau Taiwanese authorities have uncovered the island’s largest case of drug transshipment in containers after 180 tonnes of kratom were discovered in seven containers awaiting transshipment in Kaohsiung port. The cargoes, which arrived from Indonesia’s Tanjong Priok port, were bound for Los […]

The United States Department of Homeland Security has awarded a US$2.72 million grant aimed at enhancing security at the port of Long Beach, in order to ensure the safe and efficient movement of cargo in the wake of an emergency. More specifically, according to the port, the funding is going to modernise its core security […]

ZIM Samy Ofer in Panama Canal Ocean carriers continue to return to normal financial figures this year. This “normalisation”, combined with the astronomical results of the previous year, shows some huge year-on-year declines in shipping lines’ performance so far in 2023. ZIM is not an exception reporting an 87% drop in its Q2 adjusted EBITDA […]

MSC Deila / Source: www.vesselfinder.com Blanked Asia-Europe sailings have become expected in liner operators’ routines, according to Alphaliner’s latest report today (16 August). Record newbuilding deliveries have made operators reduce sailings to manage capacity and THE Alliance has the largest percentage of skipped schedules. THE Alliance has blanked just over 10 of its sailings, translating […]

MSC Federica / Source: VesselFinder The world’s two largest liner operators have continued to scrap aged ships as the freight market has normalised to pre-Covid-19 levels. Shipbrokers said that this month, MSC has sold the 1993-built 3,720 TEU MSC Erminia and 1999-built 1,837 TEU MSC Lana II for US$505/ldt and US$520/ldt respectively. As with the […]

YM Together / Source: Yang Ming Taiwanese ocean carrier Yang Ming announced revenue of US$1.15 billion and reported net loss of US$4.27 million in the second quarter of the year. However, the company achieved a profit of US$107.04 million in the first six months of 2023 with consolidated revenues in the same period reaching US$2.36 […]

A few years ago, it would seem impossible that Maersk will be in third place in the ranking of the world’s largest container lines, but according to current data, this will be the reality of the industry in the next years. French ocean carrier CMA CGM is on track to overcome the Danish shipping company […]

HMM’s first-half results are incredibly low compared to last year’s levels with the company’s profits falling over 90% year-on-year. In the first six months of 2023, the South Korean major shipping company reported net profit of US$460 million, which is 90% down to the same period last year, operating profit of US$360 million, translating to […]

  Maersk has announced a rate increase from Pakistan, the Middle East, and the Indian subcontinent to North America, namely the United States and Canada. In particular, the FAK rate increase will be effective from 1 September and will be applicable to all container types. The Danish carrier has decided to raise its rates as […]