Newsletter – February 14, 2018

OCEAN FREIGHT UPDATES

OOCL Trans-Pacific Trade Service Update

source: ajot.com

In response to the expected low demand following the Lunar New Year holiday, OOCL announced the withdrawal of the following Asia – North America sailing in addition to those announced on January 22, 2018 and January 11, 2018:

Pacific China Central 2 (PCC2)

CSCL SOUTH CHINA SEA (ECS) 019E/W: ETA Dalian on February 18 in Week 7 for EASTBOUND, and ETA Long Beach on March 11 in Week 10 for WESTBOUND
Service resumes with COSCO OCEANIA (CSO) 061E/W: ETA Dalian on March 4 in Week 9 for EASTBOUND, and ETA Long Beach on March 25 in Week 12 for WESTBOUND

HMM notches up billion-dollar loss, but carrier still plans to order more megaships

source: theloadstar.co.uk

Hyundai Merchant Marine (HMM) slumped to a KRW1.2trn ($1.1bn) net loss in 2017. And this follows a KRW484bn loss the year before, bucking the industry trend of improved profitability.

However, seemingly undaunted by the magnitude of its continued losses, the South Korean carrier is to invest $95m in 30,000 new containers and is reported to be on the verge of an order for a dozen 22,000 teu vessels and eight of 13,000 teu. Read more here (login required)

World’s biggest container line now worried about Amazon and Alibaba

source: theloadstar.co.uk

Maersk fears Amazon. That’s the headline grabber in this piece on Bloomberg. Perhaps the more interesting aspect, though, is chief executive Soren Skou’s admission that subsidiary Damco may not be quite fit for purpose. Mr Skou says while the company “can in principle” deliver, it lacks the “global footprint” of parent Maersk. Which means it could “make sense for us to buy a small company that brings technology, skill or a capability that we don’t already have”, he said. Read more here (login required).

Ammar Kanaan to take over as CEO of MSC’s terminals arm

source: theloadstar.co.uk

MSC has appointed Ammar Kanaan chief executive of its cargo container terminals arm Terminal Investment Limited (TiL).

Mr Kanaan will take the reins on 9 April and brings more than three decades’ transport experience to the role. Read more here (login required).

NY-NJ examines extended gate hours and studies rail efficiency

source: shippingazette.com

THE Port of New York and New Jersey is to study whether its marine terminals should open longer and how to improve efficiency at the port’s rail terminals. It’ll also examine how to react if the port is hit with a crisis in a new series of analyses aimed at improving port efficiency as the number of mega vessel visits rises. Read more here.