Now that CMA CGM is in control of the container transhipment terminal in Kingston, Jamaica, it is moving aggressively to transform this previously underperforming hub into a regional powerhouse.
Demand for new dry containers plunged in the first half, taking Singamas into the red.
Caribbean container ship operators have sought to rationalise vessel capacity via consolidation and co-operation, but their efforts have failed to curb the decline in rates.
Complementing the world’s largest fleet of dedicated reefer vessels, the first of six reefer containerships ordered from Yangfan Shipyard in China is set to enter the Seatrade Group’s expanding trading network.
Aurora LPG Holdings, the VLGC carrier owner, has reported a small profit for 2Q16 and the company says that demand in the Far East is likely to remain firm both in the short and long term.
I.M. Skaugen, the listed Oslo-based owner of small gas carriers, says it remains cautiously optimistic about the future as trading opportunities in the long haul markets should gradually improve, although it reported deepening of interim losses.
Several Asian shipbuilders are downsizing their payrolls amid slow economic growth and slacking shipbuilding industry.
Singapore-listed Norwegian ship builder VARD said on 26 August that it has secured orders for two cruise ships from Hapag-Lloyd’s cruise arm.
A number of very large gas carriers loaded with LPG have been anchored off Singapore amid a worsening oversupply of fuel.
Details of the liquidity plan that Hanjin Shipping submitted to its main creditor Korea Development Bank on 25 August have been revealed.
It may not seem like it, but there has been an upward trend in Asia-Europe freight rates since the March lows.
H-Line Shipping, the South Korean shipping firm created from the acquisitions of dedicated bulk businesses of Hanjin Shipping and Hyundai Merchant Marine, is replacing its ageing fleet.
Huge loss reported by China COSCO as scrapping subsidies dry up.