17.11.2023

Challenging seas for Finnlines

Finnlines reported a revenue of EUR 513.2 million for January-September 2023, 8% down from 2022. The result for the period was EUR 56.9 million, with ebitda at EUR 131.7 million. The economic outlook within the EU is challenging,...
17.11.2023

Cosco partners with Varamar

Varamar DMCC and ASL Shipping, a Cosco group entity, have entered a strategic partnership to enhance their trade operations. Offering services for various types of cargo, Varamar operates mainly in the 3,000-30,000 dwt range and...
16.11.2023

ZIM Q3 results: a test of resilience

ZIM Integrated Shipping Services reported a significant net loss of USD 2.27 billion for Q3/2023, primarily due to a non-cash impairment loss of approximately USD 2.1 billion. This loss is a stark contrast to the net income of...
16.11.2023

An easier way to calculate emission costs

UECC, a European ro-ro carrier, has introduced a standardised method for calculating emission costs for its customers to comply with the requirements of the EU Emissions Trading System (EU ETS), which will also apply to the...
16.11.2023

Cargo growth at SC Inland Ports

In October 2023, SC Ports’ Inland Port Greer reported a record handling of 17,000 containers, marking a 42% increase from the previous year. Inland Port Dillon also saw a significant uptick, with a 31% rise in the number of...
15.11.2023

King Willem-Alexander tours Duisport

Willem-Alexander, the King of the Netherlands, visited Duisburg Port (Duisport) on Tuesday, 14 November 2023, to show his appreciation for the port’s efforts to develop a European hydrogen network with the Port of Rotterdam and...
15.11.2023

Yang Ming: profit amidst shipping slump

The Taiwan-headquartered carrier Yang Ming reported a consolidated revenue of NTD 35.9 billion (USD 1,160.72 million) in Q3/2023. Net profit amounted to NTD 2.81 billion (USD 90.73 million). For the first three quarters of...
15.11.2023

MOL & Kyuden launch LNG ship "Reimei"

Mitsui O.S.K. Lines (MOL) and Kyushu Electric Power (Kyuden) have introduced "Reimei", a Panamax coal carrier powered by LNG, which began operations on 14 November 2023. Launched at Namura Shipbuilding's Imari Shipyard,...
14.11.2023

Another trio for Arkas

Arkas Line, which owns the largest fleet of container vessels in Turkey, has acquired three new vessels from MPC Container Ships, a Norwegian container operator. This expansion brings the carrier’s total fleet count to 50 vessels...
14.11.2023

RBT welcomes Neo Bossa line

Rio Brasil Terminal (RBT), operated by ICTSI at the Port of Rio de Janeiro, Brazil, recently received the maiden call of the Sirius/Neo Bossa service, a joint operation by CMA CGM and Maersk. The service commenced with the...
14.11.2023

CMA CGM's Q3 earnings dip

CMA CGM Group, a global provider of sea, land, air, and logistics services, reported revenues of USD 11.4 billion in Q3/2023, with maritime shipping and logistics sectors adjusting contributions amid market downturns. Ebitda...

Ende der Ära des Oligopols?

Die EU-Kommission hat nach einem einjährigen Evaluierungsprozess entschieden, die kartellrechtlichen Sonderkonditionen für Reeder am 25. April 2024 auslaufen zu lassen. Zwar will die Europäische Kommission bis heute keinen...
13.11.2023

Who holds the older units?

In its latest report, Alphaliner pointed out that approximately 20% of containership fleet capacity, or almost 3 million teu, is 20 or more years old. This corresponds to about 1,200 container vessels which, due to their age,...
13.11.2023

South Korean shipbuilders take the lead

According to Clarksons Research, ship orders worldwide totalled 2.49 million compensated gross tonnages (cgt) in October this year. This represents a dip of 44% compared to the same month in 2022. Out of these orders, South...
13.11.2023

Eco-friendly shipping fund launches

HFW, a global sector-focused law firm, has facilitated the launch of the shipping industry's first sustainable fund named Low Emission Methanol Shipping Company (Lemsco). The fund, created by maritime investment advisor...
10.11.2023

Greek and Chinese shipping companies on the rise

Greek and Chinese shipping companies now own 34% of the global fleet's cargo capacity, according to Bimco's chief shipping analyst Niels Rasmussen. Greek shipowners control 19% of the cargo carrying capacity and maintain a...
10.11.2023

Nearshoring trend: data reveals truth

The concept of nearshoring suggests that as companies move production closer to consumer markets, average sailing distances for shipped goods would be reduced. According to Sea-Intelligence, for North America, there has been...
10.11.2023

Free access to Shipnext platform for ICS students

The Institute of Chartered Shipbrokers (ICS) and Shipnext, a digital SaaS platform, have partnered to enhance education in the shipping industry for its students. Shipnext provides a range of digital solutions, including...
09.11.2023

Record highs for ICTSI earnings

International Container Terminal Services Inc (ICTSI) has reported a 4% increase in net income to USD 484.5 million for the first nine months of 2023, with ebitda and net income reaching record highs. The company saw a 7% growth...
09.11.2023

Appeal against Gateway Basel Nord approved

On 19 October 2023, Switzerland’s federal administrative court ruled in favour of an appeal by Swissterminal against the Swiss government's financial contribution with regard to the planned trimodal Gateway Basel Nord (GBN)....
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