Ocean

Maersk has finalized its purchase of container shipping line Hamburg Süd from the Oetker Group after both boards approved a Sale and Purchase Agreement today.

Norway is creating an ambitious project that will create 1,700-metre long passageway underneath rocky peninsula for cruise and freight ships by 2023.

Partners from a wide variety of industries come together to create the 11th Plug and Play vertical focused on global startups that aim to rebuild the technology behind supply chain and logistics.

Online booking will bypass freight forwarders using Alibaba's shipping platform, One Touch, the world's largest e-commerce platform, Maersk and CMA CGM have signed letters of understanding to work together with Alibaba, and Amazon China is now a year into their new venture as a freight forwarder, game changing events for sure.

A South Korean court on Friday pulled the plug on Hanjin Shipping Co., declaring it bankrupt and ordering the liquidation of a company that has led the country’s shipping industry for the past four decades.

Amazon has begun shipping products from Chinese merchant partners to its U.S. warehouses via ocean freighters, this is something it used to outsource exclusively, and another piece of the overall shipping and logistics picture that it’s now controlling directly, at least in part.

The Panama Canal welcomed the largest capacity vessel to-date to transit the expanded locks, Hapag-Lloyd's Valparaiso Express, the 10,589 TEU Neopanamax containership was specifically built to take advantage of the greater capacity offered by the Expanded Panama Canal.

With the acquisition, Maersk Line will have container capacity of around 3.8 million TEU and an 18.6% global capacity share, the combined fleet will consist of 741 container vessels with an average age of 8.7 years.

August was a busy month for AAPA and three of its member ports that participated in “Influencers Roundtables,” industry forums and port tours.

Ports platform includes land & water freight transportation investments, port security and environmental enhancements.

The Marine industry faces substantial pressure: global trade has decelerated and commodity prices have declined, just as a prolonged shipbuilding cycle resulted in significant overcapacity, and the ensuing struggle for market share, via fiercer competition and consolidation, underscores the need for greater efficiency in shipping.

With the fast-paced changes of globally connected economies and shifting regional opportunities, marine operators need to transform themselves to be efficient and predictable.

The Port of Los Angeles and GE Transportation are partnering to digitize maritime shipping to help goods reach consumers faster using a first-of-its-kind port information portal, which will deliver fast, data-driven insights to enhance maritime supply chain performance and better serve ultra-large container vessels.

A.P. Møller - Mærsk A/S, the world's largest shipping company by capacity, announced a slump in third-quarter profits on Wednesday due to low freight prices which it said were down 16 percent year-on-year.

The announcement that three Japanese shipping groups will merge their liner shipping businesses is further evidence of survival M&A sweeping the industry according to global shipping consultancy Drewry.

A strategic partnership with the USC Marshall Center for Global Supply Chain Management aimed at improving the global competitiveness of the nation’s supply chains was signed by U.S. Commerce Secretary Penny Pritzker.

If seaport tenants cannot safely and efficiently operate their businesses, including moving cargo on and off ships, repairing vessels, and ensuring that ships are adequately supplied, it is the seaport that will ultimately suffer through lost business as shippers move to other ports and volume declines.

The finances needed to run a carrier today are enormous, as are the risks to shippers that a carrier disappears suddenly and rates quadruple; a hedging ability would remove much of the financial risk that continues to threaten the container industry today.

In this report, we examine Best-in-Class companies’ performance on their global logistics costs and how benchmarking and pricing transparency for shipping containers can improve their global cost structure.

Hanjin’s collapse could not have happened at a worse time, with cargo volume at near-peak levels ahead of the year-end holiday season.