Offshore Energy reports: German container shipping company Hapag-Lloyd has decided to acquire the container liner business of compatriot carrier Deutsche Afrika-Linien (DAL). The duo signed a framework agreement on 10 March 2022. With a history dating back to the year 1890, DAL is an established liner shipping company for the transportation of containerised cargo...
China United Lines (CULines) has applied to be listed on the Hong Kong Stock Exchange. The liner operator, which is majority owned by the Chinese state, did not provide any fund-raising target or timetable in its listing prospectus, but stated that it plans to use the proceeds to expand its fleet, acquire...
Some mid-size forwarders are rejecting new larger customers, having been forced to adapt their business model to accommodate the contract ban from Maersk and the reluctance of other shipping lines to offer much capacity. Maersk’s move to restrict them to its Spot product only is said to have left some “4m teu...
The US Federal Maritime Commission’s investigation into carrier detention & demurrage (D&D) charges could be supercharged following a complaint by specialist drayage firm Orange Avenue Express (OAE), in what could become an industry test case. Lori Fellmer, second vice-chairman of the National Industrial Transportation League (NITL) and VP of logistics and carrier...
Ocean carriers face ‘Hobson’s choice’ on the containership charter market: agreeing to owners’ hugely inflated daily hire rates or risking losing the vessel to a competitor. Hapag-Lloyd has just agreed a three-month charter commencing in January of the 4,253 teu Synergy Oakland for an eye-watering $130,000 a day from Greek non-operating owner...
China’s quarantine rules for seafarers are set to cause a big drop in Pearl River Delta feeder capacity in the run-up to Chinese New Year (CNY) in February. Both ONE and Hapag-Lloyd have issued advisories warning of disruption from late December to mid-February, after feeder operators announced service suspensions due to a...
There are reports of “sharp increases” in Asia-Europe container spot rates this week, as the fallout from the week-long Suez Canal blockage restricts both vessel and equipment capacity in Asia. Today’s Ningbo Containerized Freight Index (NCFI) North Europe and Mediterranean component jumped by 8.7%, almost matching the 8.6% increase on the Shanghai...
PRESS RELEASE – Acquisition significantly strengthens Hapag-Lloyd´s position in the African market – Customers to benefit from an even denser network Today, Hapag-Lloyd and NileDutch have signed a sale and purchase agreement where Hapag-Lloyd acquires all shares of the Dutch container shipping company Nile Dutch Investments B.V. (NileDutch). With over 40 years of expertise,...
Asia-North Europe container spot rates eased back slightly this week, as carriers ‘hoovered up’ stockpiled cargo accumulated before Chinese New Year. However, rates from Asia to the US increased again. Today’s reading of the Freightos Baltic Index (FBX) for a 40ft from Asia to North Europe was $8,308, compared with $8,430 a week...
Shipping lines have begun suspending cargo bookings into Myanmar. A nationwide general strike took place yesterday, with hundreds of thousands on the streets protesting against the military power-grab on 1 February. “The situation is becoming more and more tense,” according to Hapag-Lloyd. “Operationally, the terminals in Myanmar are close to full capacity, and feeder services,...
