Hapag-Lloyd, KLU Open New Research Center for Shipping and Logistics

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November 26, 2018 German container shipping company Hapag-Lloyd has joined forces with compatriot Kühne Logistics University (KLU) in opening a new research center in Hamburg that specializes in maritime logistics. Inaugurated on November 22, 2018, the Hapag-Lloyd Center for Shipping and Global Logistics (CSGL) will be an integral part of KLU. As informed, the new […]

JAXPORT Wins USD 46 Mn for Harbor Deepening

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November 23, 2018 The Jacksonville Port Authority (JAXPORT) has received additional USD 46 million in funding from the U.S. Army Corps of Engineers for the Jacksonville Harbor deep draft navigation project. The 47-foot deepening improvement project, authorized by the Water Resources Reform and Development Act of 2014, will enable mega-sized container vessels to enter the port. […]

Higher yields help Lufthansa Cargo profits grow

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October 30, 2018 Lufthansa Cargo is continuing to have a strong year with profits up 43 per cent in the first nine months helped by higher yields. Between January and September, earnings before interest and tax (EBIT) in Lufthansa’s Logistics sector, which includes Lufthansa Cargo increased 43 per cent to €150 million and was also […]

HMM Targets USD 10 Bn in Annual Revenue by 2022

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October 30, 2018 South Korean shipping company Hyundai Merchant Marine has set a target of building up its capacity to 100 million TEUs and posting USD 10 billion in annual revenue by 2022. Presenting the company’s Blueprint for 2022 in Seoul on October 26, HMM’s CEO C.K. Yoo said that the company also plans to finalize the […]

DryShips to Purchase Quartet from Economou Entities

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October 30, 2018 Greece-based ship owner and operator DryShips has reached an agreement to buy four vessels from entities owned by its Chairman and Chief Executive Officer, George Economou. Under the deal, agreed on October 29, the company would pay USD 198.5 million for three Newcastlemax drybulk carriers and one coated Aframax tanker. The bulkers were built in […]

Global Ship Lease Agrees Merger with Poseidon Containers

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October 30, 2018 Global Ship Lease has signed a merger deal with Poseidon Containers to create a containership charter owner focused on mid-sized and smaller vessels. The company signed the definitive agreement with Poseidon Containers Holdings LLC and K&T Marine LLC for a stock-for-stock transaction representing a total transaction value of over USD 780 million on an asset […]

Nakilat’s Growth Continues

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October 29, 2018 Qatar-based LNG shipping company Nakilat wrapped up the first nine months of 2018 with a profit increase of 8.5%.  The company concluded its financial results for the nine-month period ended September 30 with a net profit of QAR 659 million (around USD 181 million) compared to QAR 607 million (USD 167 million) […]

Drewry: Signs of Recovery Appear in North America-ECSA Trade

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October 29, 2018 The North America-East Coast South America container trade, which has had a poor year so far, is seeing signs of recovery in demand and freight rates as of late, according to shipping consultancy Drewry. Latin America has the lowest port throughput growth forecast for this year, with total port handling expected to […]

Lion Air Boeing 737 Crashes in Indonesia With 189 People on Board

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October 29, 2018 Here are the KEY TAKEAWAYS from the Lion Air’s flight JT610 that went missing Monday: A Lion Air jet crashed in Indonesia while flying from Jakarta to Pangkalpinang The jet, which entered service for Lion Air on Aug. 15, had about 189 people on board; search for survivors, debris continue Rescue agency expects no survivors […]

Premium products drive Q3 growth at IAG Cargo

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October 26, 2018 Revenue at IAG Cargo increased by seven per cent in the third quarter of 2018 with demand for premium products proving strong. Third quarter cargo revenue was up to €290 million, with yields measured in CTK rising 8.1 per cent to €20.44. When releasing results for the IAG group, it says demand […]