Shippers continue to experience poor quality services and disruption to their supply chains since the consolidation of the world’s 20 top lines into 4 ‘super alliances’, the Global Shippers’ Forum (GSF) says, calling for urgent resolving of the issue. In particular, the shippers are faced with bunch
Israeli container shipping company ZIM launched a new Guyana & Suriname Express service (GSE) starting from March 2. The company is expanding its services by offering the new fixed-day rotation that will connect Kingston KCT (Wed), Georgetown JFT (Mon-Tue) and Paramaribo (Thu-Fri). Operating with tw
Consolidation in the container shipping industry is happening for the first time in a decade and will likely continue in 2016, according to a new report from AlixPartners advisory firm. The containerized-ocean-freight industry suffered considerably in 2015 amid continuing financial woes and all sign
Container service reliability started 2016 on a disappointing note as the average on-time performance slipped by 5.7 percentage points in January to 69.6%, according to Drewry’s Carrier Performance Insight. The latest result represented the worst month-on-month decline since January 2015 (when the o
Hapag-Lloyd’s Full Year Profit in Line with Expectations German container shipping company Hapag-Lloyd has achieved its earnings targets for 2015 and significantly improved its operating result (EBIT) in the fourth quarter of 2015… Read More Fresh Wave of Raids in Petrobras-Keppel Bribery Probe In a
The formation and re-formation of larger carrier alliances along with the increase in average and largest ship sizes are turning up the heat on ports and terminals which might result in diminishing returns, according to UK-based consultancy Drewry. Ports are not immune to the volatility of the marke
The National Shipping Company of Saudi Arabia (Bahri) announced that its National Chemical Carriers subsidiary entered a deal on 24th February 2016 to purchase five second-hand Medium Range tankers. The vessels were built in 2014 at Hyundai Mipo Dockyard in South Korea for Scorpio Tankers Inc. As di
The Indian government has approved a USD 150 million credit facility to support the development of Iran’s Chabahar port which lies outside the Persian Gulf, near Iran’s border with Pakistan. According to the government, India is negotiating this project to facilitate the growing trade and investment
Global marine terminal operator DP World has signed two major contracts for civil construction work at its new Container Terminal 4 on a reclaimed island in Jebel Ali Port. According to the contracts, Dubai-based construction company Dutco Balfour Beatty LLC will develop an operational yard area wit
Qatar-based marine transport and logistics conglomerate Qatar Navigation (Milaha) delivered a net profit of QAR 1.095 billion (USD 300.6 billion) for the full year of 2015, representing a 4 percent increase compared to the previous year. The company’s operating revenues for the period increased by 1
There have been some ‘flickers of improvement’ in February in the container shipping industry after an opening to the year which saw 1.3m teu of capacity idle, freight rates struggling and the charter market on its knees, Maritime Strategies International reports. Having suffered a torrid end to 201
As Iran returns to the global oil market, adding supply to an oversaturated market, the country will try to increase its exports to China, according to Moody’s rating agency. However, “regional rivalries could hinder this effort, with Saudi Arabia currently China’s largest crude supplier,” Waheed Sh
Qatargas, the Maersk Group and Shell signed a Memorandum of Understanding (MOU) to explore the development of LNG as a marine fuel in the Middle East region. Through the joint relationship the partners plan to explore the development of new markets for LNG to be used as propulsion fuel for merchant
Nakilat, the shipping arm of Qatar’s liquefied natural gas (LNG) sector, plans to pursue aggressive developments and growth strategies in the long term through acquisition of new business opportunities in the marine sector. “Nakilat will exploit future opportunities to acquire new business opportuni
