Volatility in shipping hits extreme levels
Volatility in shipping hits extreme levels An industry known for its volatility has entered a new period of extreme swings in earnings. New research carried out by Jonathan Chappell, a shipping analyst at Evercore ISI, an investment bank, highlights the extreme volatility seen across five segments over the past 18 months. “Shipping markets are known for being notoriously volatile given [...]
14/02/2024
Maersk warns oversupply to hit profits and plays down Red Sea boost
Maersk warns oversupply to hit profits and plays down Red Sea boost COPENHAGEN, Feb 8 (Reuters) - Maersk (MAERSKb.CO), opens new tab warned on Thursday that container shipping overcapacity would hit profits more than expected this year and that it didn't see a major boost from the jump in freight rates due to Red Sea disruptions, hammering its shares. The warning, which [...]
14/02/2024
World’s largest automated terminal: PSA Tuas Port pioneering automation transformation with event-driven architecture
World’s largest automated terminal: PSA Tuas Port pioneering automation transformation with event-driven architecture PSA Tuas Port is on the path to becoming the world’s largest automated container terminal, boasting an annual handling capacity of 65 million teu once it reaches full operational capacity in the 2040’s. - Ho Vee Leung, Regional Head of IT, Southeast Asia, PSA Singapore | Feb [...]
14/02/2024
PFFA sees record-low cargo volumes in 2023
PFFA sees record-low cargo volumes in 2023 GEORGE TOWN: The Penang Freight Forwarders Association (PFFA) saw cargo volumes dropping to record-low levels in 2023, with air cargo shrinking 24% year-on-year to 104,449 tonnes. The association said it handled 39,341 tonnes of imported cargo and 65,108 tonnes of exported products last year, a 30% and 21% decline, respectively, compared with 2022 [...]
05/02/2024
CMA CGM crews seek dialogue on Red Sea transit policy
CMA CGM crews seek dialogue on Red Sea transit policy Crew working for the global liner company which has stuck the most steadfastly to Red Sea transits are remonstrating with top management. In an email seen by Splash sent to top management, a number of staff working onboard CMA CGM ships have sought to “constructively address significant concerns” regarding the [...]
05/02/2024
LNG-powered CMA CGM Belem launched in China
LNG-powered CMA CGM Belem launched in China Chinese shipbuilder Hudong-Zhonghua has launched a newbuild 13,000 TEU LNG dual-fuel containership for French shipping giant CMA CGM. The ship named CMA CGM Belem was launched four days ahead of schedule on January 29, 2024, at the Changxing Shipbuilding Base. LNG-powered CMA CGM Belem has a total length of 336 meters and a [...]
05/02/2024
THE Alliance suspends Asia – Red Sea service over security threat
THE Alliance suspends Asia – Red Sea service over security threat The AR1 service offered by the alliance comprising Ocean Network Express (ONE), Hapag-Lloyd, Yang Ming, and HMM, connects ports in Northeast and Southeast Asia with ports of Jeddah in Saudi Arabia, Aqaba in Jordan and Egypt’s Sokhna Port. “We regret to inform you that, due to recent security developments [...]
28/01/2024
Iran Converts Containership into Drone Carrier
Iran Converts Containership into Drone Carrier Iran is preparing for the launch of a boxship converted into a drone carrier named Shahid Bagheri. Due to this disturbing development, security concerns are heightened in the Arabian Sea. The Shahid Bagheri drone carrier is a boxship formerly known as the "SARVIN." It is a 3280 TEU ship that was delivered back in [...]
28/01/2024
Maersk names first large methanol container ship
Maersk has named its first large methanol-fuelled containership at HD Hyundai Heavy Industries. The 16,200 teu Ane Maersk is the first in a series of 18 large methanol powered ships ordered by the Danish shipping company. The vessel is named after Ane Mærsk Mc-Kinney Uggla, the Chair of the AP Moller Foundation and AP Moller Holding and christened by her eldest granddaughter. The [...]
28/01/2024
Wallem Group Is The Proud Partner To BYD For Providing Commercial Management Services
Wallem Group Is The Proud Partner To BYD For Providing Commercial Management Services Wallem Group is pleased to partner Chinese automaker BYD by providing commercial services for its first fully chartered PCTC vessel, MV BYD Explorer No. 1. The vessel has completed its first loading operations and is on its inaugural voyage to Europe. Wallem Group is providing BYD with [...]
21/01/2024
