By Alexander Whiteman (The Loadstar) - The International Maritime Organisation’s (IMO) adoption of an initial strategy to address shipping emissions is “a step in the right direction”, but there is more that can be done, according to the industry. Many are urging more effort to deal with emissions which some have suggested are on a par with the whole of Germany. Chief … [Read more...]
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HMM Sets Course for 1 Million TEU Fleet with Megaship Order
By Mike Wackett (The Loadstar) - South Korea’s largest surviving ocean carrier, Hyundai Merchant Marine (HMM) has now officially confirmed its plans to order 350,000 teu of new capacity, including 12 x 20,000 + teu ultra-large vessels. In a bullish statement today, HMM said that the order of the 12 ULCVs together with eight 14,000 teu ships was part of its strategy to … [Read more...]
Marshall Islands Calls on IMO to Get Serious About Curbing Shipping’s Emissions
By Alexander Whiteman (The Loadstar) - Marshall Islands environment minister David Paul has urged the International Maritime Organization (IMO) to issue a clear signal that it will take action against climate change ahead of its key environmental meeting this week. Mr Paul described claims that climate action would dent economic growth in the shipping sector as … [Read more...]
Cargo Owners Still Waiting For Maersk Honam Containers
By Mike Wackett (TheLoadstar) A month after the blaze that claimed the lives of five seafarers on the 15,262 teu Maersk Honam, cargo owners still have no idea when they will receive their containers. Laden with 7,860 boxes, the ship caught fire on 6 March in the Arabian Sea en route to the Mediterranean, via Suez. According to the casualty website of Maersk-appointed … [Read more...]
COSCO Back in the Black, With a Little Help from State Friends
By Mike Wackett (The Loadstar) - COSCO Shipping posted a net profit of $264m in 2017, reversing a loss of $1.1bn in the previous year, as it targets a June date for closing the $6.3bn takeover of Orient Overseas International Lines (OOIL) and its container line arm, OOCL. Turnover at the Chinese state-owned carrier leapt 30%, compared with the previous year, to $12.8bn, … [Read more...]