Ocean

Creditors of Hyundai Merchant Marine today rejected a rescheduling of the troubled shipping company’s debt, pushing it to the verge of bankruptcy.

The Panama Canal expands in 2016, allowing for more and larger (post-Panamax) ships to make the passage from East Asia to the United States.

Despite reporting a nine-month profit of $110.22m, Mitsui OSK Lines (MOL) is forecasting a full loss of $1.45bn for the year ended 31 March 2016 as it undertakes structural reform of its container shipping and dry bulk businesses.

Amazon.com Inc's China arm has registered as an ocean freight forwarder, according to the U.S. Federal Maritime Commission, a move that will give it more control over shipping products from Chinese factories to U.S. shoppers.

Launched by the French shipping line CMA CGM on December 10, the CMA CGM Benjamin Franklin arrived to the Port of Los Angeles at dawn yesterday, Saturday, December 26, 2015.

The expansion of the Panama Canal will be the headline event in shipping in 2016, and the $5 billion project promises to reorient the landscape of the logistics industry and alter the decision-making calculus of the shippers that the canal serves.

According to CBRE Group, the Panama Canal's expansion, the first major renovation the canal has undergone since its opening in 1914, is a milestone that will have a major impact on the global trade industry, and specifically, the way cargo is handled and transported throughout North America.

The CMA CGM Benjamin Franklin, which was launched on Dec. 10, 2015, is scheduled to make her maiden call at APM Terminals-Pier 400 at the Port of Los Angeles followed by a subsequent visit to the Port of Oakland.

French container line CMA CGM has offered to acquire Singapore-based Neptune Orient Lines for S$3.4bn ($2.4bn) in cash, enhancing its position on strategic trades such as the US, intra-Asia and Japan, and forming a larger entity that will own the world’s third-largest container shipping fleet.

CMA CGM has confirmed it is in “exclusive” talks with Neptune Orient Lines’ (NOL) largest shareholder, Temask, for the purchase of its APL container liner business.

Shipper Neptune Orient Lines was trading 6.6% higher at $1.135 a share, outperforming the broader index's 0.8% gain, following news overnight that CMA CGM SA, the French container transportation and shipping company, is emerging as an early favorite to buy the company.

TEUs are shifting and industrial occupancy is healthy across North American seaports.

Port Commissioners gave the go-ahead last Friday authorizing exclusive negotiations between the Port of Oakland and industrial real estate developer CenterPoint Properties to develop the next phase of a 170-acre Seaport Logistics Complex.

There is one group of veterans who have gone unrecognized for too long: our Merchant Marines.

Maersk and CMA CGM are in separate talks over potentially buying Neptune Orient Lines (NOL), the Singapore-based container group has confirmed.

The U.S. Navy, using a remotely controlled submersible operating almost 3 miles below the ocean's surface, has identified the cargo ship El Faro.

Oversupply in the container shipping sector remains, Review of Maritime Transport 2015 report says.

The Review of Maritime Transport highlights some issues that are at the interface of maritime transport and sustainability and underscore the role of maritime transport in helping implement a workable international sustainable development agenda.

Missing cargo ship El Faro, hit by powerful Hurricane Joaquin, is believed to have sunk off the Bahamas and one presumed crew member is confirmed dead, the U.S. Coast Guard said on Monday.

The Port of Long Beach announced plans to seek new ways to use a largely undeveloped 150-acre pier to help move cargo more efficiently as the Port continues to welcome increasing trade.