A Pacific International Lines’ (PIL) board reshuffle has seen the founding Teo family lose control following a bailout by a unit of the Singapore government’s investment company. PIL announced on 7 April that Lars Kastrup, a liner shipping veteran, previously the CEO of Neptune Orient Lines, and Gan Chee Yen, a director of Temasek Holdings’s […]

Seaspan Corporation has entered into an agreement to acquire two 8,500TEU scrubber-fitted containerships which are already assigned to a long-term charter with an undisclosed liner operator. The vessels are anticipated to be delivered during the second quarter of the year and are expected to be financed from additional borrowings as well as cash in hand. […]

HMM will continue to provide extra container shipping capacity for South Korean small and medium enterprise (SME) exporters until the end of 2021. South Korea’s largest liner operator signed an agreement with Korea SMEs and Startups Agency (KOSME) on 2 April, pledging to reserve slots for these exporters on all Asia-Europe and Transpacific services, to […]

ZIM and Gold Star Line have extended their service coverage in Oceania with the launch of a new service connecting Australia with New Zealand. The new product is called New Zealand to Australia Service (N2A) and commenced on 2 April with the 2020-built GSL Africa calling the Port of Auckland. The port rotation of the […]

Transpacific rates are once again flying high with eastbound volumes hitting the stratosphere with a US$17,000/FEU rate hitting the top rate for this week. Rates on the Pacific will be affected by the six days of delays at the Suez Canal caused by the grounding of the Ever Given. The effects of the Suez incident […]

Dalian Shipbuilding Industry Company (DSIC) and Guangzhou Shipyard International (GSI) have won orders for thirteen 16,000TEU dual-fuel container ships, their parent group China State Shipbuilding Corporation announced on 2 April. Describing the commission as CSSC’s largest ever for container ships, the world’s largest shipbuilding conglomerate said that the vessels will have a total contract value […]

Peel Ports Group has ordered two new ship to shore (STS) container cranes from Liebherr to equip the Port of Liverpool, which already operates five STS from the German-Swiss manufacturer. The new cranes will replace two older units, which will be relocated to Peel Ports’ Greenock Ocean Terminal at Clydeport. The new cranes have an […]

India’s largest container terminal JNPT endured a tough 2020 as volumes dipped below 5 million TEU for the first time in three years in the financial year ending March 2021, following a record 7% dip. JNPT handled 4.676 million TEU in 2020-2021 compared to 5.031 million TEU during 2019-2020. Moreover, JNPCT – run by the […]

Adani Ports and Special Economic Zone Ltd. (APSEZ) has acquired the remaining 25% of the Adani Krishnapatnam Port Ltd. making the company the sole owner of the facility for approximately US$382 million. Krishnapatnam Port is located on the east coast of India in Nellore district of Andhra Pradesh (180km north of Chennai Port) close to […]