ITJ | Transport Journal Mobile: Shipping & Ports

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...

13.11.2023

End of the oligopolistic era nigh?

The EU Commission, having spent a year evaluating the special anti-trust conditions for shipowners, has now decided to let them expire on 25 April 2024. Even though the commission hasn’t identified a lack of competition, or...

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)....

09.11.2023

DP World's investment in London Gateway

DP World has marked a decade at London Gateway with a GBP 56 million (USD 69 million) investment in four automated stacking cranes (ASCs), bolstering the company’s supply chain infrastructure in the UK. These cranes,...

08.11.2023

Ten new vessels for AD Ports

AD Ports Group is acquiring ten offshore vessels for approximately USD 200 million from E-NAV to reenforce its operations in the Middle East and Southeast Asia. These vessels, with an average age of nine years and younger than...

08.11.2023

ZEX: revamped China-LA route

Zim Integrated Shipping Services has re-introduced its Zim e-commerce Xpress (ZEX) line, a service connecting South China to the US West Coast and tailored for the e-commerce sector. ZEX offers a 12.5-day transit from China...

08.11.2023

German partnership for water logistics

HGK Shipping and Salzgitter Flachstahl have signed a contract for the long-term lease of three dry cargo ships, aiming to shift more logistics to inland waterways. The agreement follows a memorandum from August 2023 that...

07.11.2023

Shipping to and from Israel

The Israeli container carrier Zim recently confirmed that, besides deploying its vessels for ‘national needs’, the shipping line will continue its civil business and continue to accept bookings and transport containers to and...

07.11.2023

ONE grows port holdings

Ocean Network Express (ONE), the world’s sixth largest container carrier, has acquired a majority stake in two US West Coast terminal operators, Trapac in Oakland and Yusen Terminals in Los Angeles, and a significant stake in...