Category archives: Shipping Market

CMA CGM upgrades its offer between Northern Europe and the Eastern Mediterranean Sea

CMA CGM, a leading worldwide shipping group,  announces the new upgraded service offer NC LEVANT, which directly links the Eastern Mediterranean Sea (Turkey, Egypt, Lebanon) and Northern Europe (Belgium, England ...

APL continues to expand and invest in Guam and Saipan

Showing its strong commitment to serving Guam and Saipan, APL has announced the conversion of its Guam office from a third party agency to an APL owned and managed office ...

ZEABORN Group takes over business operations of Rickmers-Linie and NPC Projects

ZEABORN Group, established in 2013, sets a further milestone in the company's development with the takeover of the business operations and the international organization of Rickmers-Linie, including NPC Projects ...

Jacques Saadé appoints Rodolphe Saadé Chief Executive Officer of the CMA CGM Group

On the occasion of his 80th birthday, Mr. Jacques Saadé announced the appointment of his son Rodolphe Saadé as Chief Executive Officer of the CMA CGM Group. Jacques Saadé remains ...

Maersk Line reports a 2016 loss of USD 376 million

Maersk Line reported a 2016 result that is USD 1,679 million lower than the 2015 result (USD 1,303 million). The overriding reason for the loss is a 19 ...

Rates have risen, but 2017 holds further uncertainty for container shipping market, warns Xeneta

Xeneta, the leading global benchmarking and market intelligence platform for containerized ocean freight, is forecasting further uncertainty for the global container shipping market in 2017. Although rates have risen significantly ...

Hyundai Merchant Marine to hire up to 220 employees from Hanjin shipping

Hyundai Merchant Marine announced that it determined to initially employ 131 of Hanjin’s workforce including onshore, offshore, overseas staffs and ship managers.

Moreover, HMM will also recruit 41 additional ...

Moore Stephens says shipping will find ways to ride out protracted downturn

International accountant and shipping adviser Moore Stephens says the shipping industry will use a mixture of experience and innovation to navigate what is likely to be another volatile year for ...

Optimistic charterers help boost shipping confidence to 15-month high

Shipping confidence improved for the third successive quarter in the three months to end-November 2016, according to the latest Shipping Confidence Survey from international accountant and shipping adviser Moore Stephens ...

CLIA releases 2017 State of the Cruise Industry Outlook

Cruise Lines International Association (CLIA) has released the 2017 State of the Cruise Industry Outlook, detailing a steady pace of cruise travel interest and significant investment in the industry. CLIA ...

Rickmers Group wins new customer Samudera Indonesia

Samudera Indonesia has appointed Rickmers Shipmanagement, which belongs to the Rickmers Group, as the new Technical Manager of two supramax bulk carriers including their crewing. Samudera Indonesia is one of ...

Scorpio Tankers announces upsizing and extension of a credit facility

Scorpio Tankers Inc. announced the upsizing and extension of its BNP Paribas Credit Facility.

The Company has received an additional $27.6 million commitment from BNP Paribas to upsize its ...

Chevron announces $19.8 billion capital and exploratory budget for 2017

Chevron Corporation announced a $19.8 billion capital and exploratory investment program for 2017. Included in the 2017 program are $4.7 billion of planned affiliate expenditures.

"Our spending for ...

NYK establishes logistics company for finished cars in Vietnam

NYK has signed a joint-venture agreement with Vietnam Ocean Shipping Agency Corporation (VOSA) to establish NYK Auto Logistics (Vietnam) (NALV), a logistics company for finished cars. On December 2, a ...

Rolls-Royce to lay off 800 more workers from it Marine business unit

Rolls-Royce has today announced plans to accelerate the transformation of its Marine business as a result of continuing weakness in the maritime market. Rolls-Royce’s Marine business supplies a range ...

Maersk Line to acquire Hamburg Süd

Maersk Line and the Oetker Group have reached an agreement for Maersk Line to acquire Hamburg Süd, the German container shipping line. The acquisition is subject to final agreement ...

Stena Line increase capacity on the Baltic routes

To strengthen its business position in Central Europe and Scandinavia, as well as to serve the growing demand, the company Stena Line now implement a more frequent ferry timetable which ...

Sovcomflot signs MOU with Sberbank on new USD 180 million credit facility

On 23 November 2016, Sovcomflot and Sberbank signed a memorandum of understanding (MOU) paving the way for a new USD 180 million long-term credit agreement with a term of up ...

EC approves merger between Hapag-Lloyd and UASC

The European Commission has cleared under the EU Merger Regulation the proposed acquisition of United Arab Shipping Company ("UASC") by Hapag-Lloyd of Germany, subject to conditions. Both companies operate in ...

CMA CGM and CNAN NORD Spa join to develop shipping transportation in Algeria

CMA CGM, a leading worldwide shipping group, and CNAN NORD Spa, Algerian National Shipping Company, are pleased to announce that they signed a cooperation agreement on November 8th.

The agreement ...

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