JERUSALEM, Oct 21 (Reuters) - Israeli shipping firm Zim said on Wednesday it would start to offer direct service to Jebel Ali port in the United Arab Emirates (UAE). With its new line, Zim joins a number of international rivals - including MSC, Maersk - to announce they would offer a connection between Israel and the UAE since the countries agreed to normalize … [Read more...]
Seaspan Secures Industry-First Sustainability Linked Loan
Seaspan Corporation, a leading containership owner and operator, says it has secured a $1.8 billion sustainability-linked loan, marking a first of its kind in the containership leasing industry. The loan consists of a $200 million term loan with a tenor of six years. The expanded Program is comprised of a $300 million revolving credit facility, and approximately $1.5 billion … [Read more...]
Trade Imbalance Hits American Crop Exports With Lack of Containers
By Michael Hirtzer (Bloomberg) -- With the U.S. importing more goods than it’s exporting, shipments of American cotton, grain and hay are getting squeezed due to limited availably of shipping containers. Peter Friedmann, executive director of the Agriculture Transportation Coalition, warned that customers in Asia will avoid U.S. supplies if container shipments from … [Read more...]
Shipping Heavyweights Join TradeLens Platform as ‘Foundation Carriers’
Two of the world's leading global container carriers MSC Mediterranean Shipping Company and CMA CGM are now fully plugged in to the TradeLens blockchain-based platform. The TradeLens platform was jointly developed by IBM and A.P. Moller - Maersk and launched in 2018. The platform uses blockchain technology to digitize manual and paper-based systems across the supply chain. … [Read more...]
CMA CGM’s New LNG-Powered Megaship Sets Cargo Record
The world's first natural gas-powered containership has also just set a new world record for the highest number of full containers loaded on a single vessel. The LNG-powered CMA CGM Jacques Saad was recently delivered by Hudong–Zhonghua Shipbuilding, a wholly-owned subsidiary of China State Shipbuilding Corporation. With capacity of 23,000 TEU, the 400-meter-long ship is the … [Read more...]