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HMM has announced the highest operating profits in its history of US$900 million with a margin of 42%, while the South Korean container carrier has also marked an outstanding 85% revenue growth in the first quarter of 2021, reaching US$2.15 billion. It is important to note that 2021 first-quarter earnings have already surpassed the earning […]
12
May
May
Maersk has added 38,000m2 of warehousing space in Vietnam as company looks to develop its regional capabilities as the country undergoes a surge in both import and export volumes. Two of the three distribution centres are based in Song Than, 25km east of Ho Chi Minh City. These two facilities are 10,000m2 and 9,700m2 and […]
12
May
May
Maersk has announced that the poor schedule reliability and vessel delays, driven by bad weather and local congestion in US terminals, have rendered it impossible to recover its TA6 schedule. The Danish carrier has, therefore, decided to slide the following TA6 sailings: TA6 – Eastbound Week Trade Service Vessel / Voyage First Port / ETD […]
12
May
May
Wan Hai Lines will proceed with orders for four more 13,000TEU Neo-Panamax newbuildings and 50,000TEU in new containers, the carrier revealed on the release of its Q1 2021 results on 11 May. In March, Wan Hai disclosed plans to commission nine 13,000TEU newbuildings, and made an initial order for five vessels at Hyundai Heavy Industries. […]
11
May
May
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 […]
