Maersk Shares Sink As Trade War Looms

by Jacob Gronholt-Pedersen (Reuters) - The world’s largest container shipping company, A.P. Moller-Maersk, warned trade headwinds would slow growth this year, sending its shares down 10 percent on Thursday. Maersk is also moving ahead with spinning off Maersk Drilling, announcing it expected its new listing in Copenhagen to begin trading on April 4. Maersk Line in … [Read more...]

Elbe Deepening Turns Crucial as Port of Hamburg Throughput Falls

By Mike Wackett (The Loadstar) - Container throughput at the port of Hamburg declined for the second consecutive year in 2018. The port’s throughput was down to 8.73m teu, adding urgency to the completion of the long-awaited deepening and widening programme in the river Elbe. Although this represents a marginal 1% year-on-year fall in containers handled at Hamburg’s box … [Read more...]

MOL Tribute Loads Record 19,100 TEU in Singapore

The Ocean Network Express's ultra-large containership MOL Tribute has set a new record for the most twenty-foot equivalent containers ever loaded onto a vessel with 19,100 TEU.  The record-setting stow took place at the PSA Singapore terminal on February 11, 2019. It was announced by Navis, part of Cargotec Corporation, which provided the stowage planning … [Read more...]

Trade Spats Could Dampen Shipping Growth in 2019 -Hapag Lloyd CEO

FRANKFURT, Feb 13 (Reuters) - An escalation of tariff wars between China and the United States could dampen growth in international container shipping as operators pre-emptively brought forward business in the second half of last year, Germany's Hapag Lloyd said. "Many customers tried to get their goods through to the U.S. ahead of time in second half 2018, creating … [Read more...]

Hapag-Lloyd to Convert 15,000 TEU Containership to LNG Fuel

Hapag-Lloyd announced Tuesday it will retrofit its 15,000 TEU ship Sajir to cleaner burning LNG fuel, becoming the first in the world to convert a ship of this size to LNG power. The German shipping line said it hopes the pilot project will pave the way for converting large ships to liquefied natural, helping to eliminate 15 to 30 percent of CO2 emissions compared to … [Read more...]