Container liners' bunker costs are soaring on the back of increased crude prices and are turning the promise of improved revenues to the nightmare of further losses.
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OOIL was reporting its last annual result as an independent entity that will be absorbed into China’s giant state-owned shipping organisation, COSCO Shipping.
A spike in backhaul volume early in the year was accompanied by increases in Europe-Asia freight rates that are almost the same as those recorded in 2011
Although it is now a subsidiary, Hamburg Süd will remain a commercially independent carrier under its new Danish owner.
In its latest newsletter, analyst Alphaliner said COSCO Shipping, which currently owns 45.47% of COSCO Shipping Holdings shares, will conditionally subscribe to 50% of the new shares, while the...
Hapag-Lloyd will use the proceeds primarily to repay debts and strengthen its capital structure.
Container lines have waited almost two years for a five-year block exemption from the city's competition law that was finally granted on 8 August.
OOIL recorded a net profit of USD53.6 million as the carrier benefited from improving market conditions and turned around a USD57 million loss recorded in the same period last year.
An improving dry bulk shipping market is bringing carriers closer to profitability, but it is a fragile recovery.
Attractive second-hand vessel prices and a recovering market have encouraged Pacific Basin to acquire five bulk carriers.
Hong Kong’s OOCL is the latest container line to be swept up by the wave of consolidation that has rolled over the industry, but there was nothing routine about the enormous offer COSCO slapped on...