APL Turnaround Boosts CMA CGM Q1 Profits

 By Gavin van Marle (TheLoadStar) A dramatic turnaround in the fortunes of recently acquired APL helped French carrier CMA CGM offset a slight decline in revenue and volumes in the first quarter of this year. CMA CGM said APL, acquired from the Singaporean government in a $2.4bn deal last year, had managed to post a quarterly operating profit for the first time … [Read more...]

K Line Sues APL Logistics Over False Bankruptcy Rumors

By Alexander Whiteman (The Loadstar) - K Line has filed a lawsuit against Singapore-based APL Logistics, claiming its employees had wrongly suggested the Japanese shipping line was in danger of going bankrupt. Filed yesterday in the Tokyo District Court, the lawsuit claims APL employees sent emails “strongly” recommending shippers terminate bookings with K Line and switch … [Read more...]

APL Cuts Fleet’s Carbon Dioxide Emissions Nearly in Half

APL, the container shipping unit of Singapore-based Neptune Orient Lines, says it has reduced its fleet's carbon dioxide emissions by 45.5% in 2015 compared to 2009 levels. APL says the achievement marks the company's highest carbon dioxide emissions reduction in the last six years, attributing the reducting to improvements in operational efficiency, fleet and voyage … [Read more...]

Another ‘Megaship’ Grounds in Europe

An ultra large containership had to make a controlled grounding in the Solent Saturday night while on its way to the port of Southampton, the second incident this month involving a so-called 'megaship' running into trouble in European waters. The UK Maritime and Coastguard Agency said it responded to the incident and reported that a large container ship executed a controlled … [Read more...]

NOL/APL… a missed opportunity for Maersk?

By Alessandro Pasetti (TheLoadstar) This month, Singapore container shipping line Neptune Orient Lines finally agreed to be acquired by France’s CMA CGM in a cash deal that values its equity at $2.4bn. Do not feel sorry for the other potential buyer, market leader Maersk, which has been left with limited options for its shipping line division – I believe it did well to bow out … [Read more...]