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2022 a record year for Costamare

Costamare Inc. reported unaudited financial results for the fourth quarter (“Q4 2022”) and year ended December 31, 2022. I. RECORD PROFITABILITY FOR YEAR ENDED 2022 2022...

Post-Boom Hangover Leaves Carriers with Massive Container Surplus

The return to ‘supply chain normalisation’ has led to the container liner industry being hobbled by an estimated surplus of 5m teu of boxes,...

CMA CGM ramps up M&A hunt with eye on Bollore arm

French shipping tycoon Rodolphe Saade is ramping up his hunt for acquisitions, with an eye on fellow billionaire Vincent Bollore’s logistics arm as a...

CMA CGM linked with order for 12 methanol-powered boxships at KSOE

Korea Shipbuilding & Offshore Engineering (KSOE) has won an order for the construction of twelve very large container ships from an unnamed European shipping...

Cross-alliance cooperation on the increase as market weakens

Ocean carriers are pulling capacity from Chinese export routes and redeploying the ships to more robust tradelanes with growth potential. Moreover, the weakness in the...

Hapag-Lloyd achieves extraordinarily strong result in its anniversary year 2022

On the basis of preliminary and unaudited figures, Hapag-Lloyd has concluded the 2022 financial year – in which it celebrated its 175th anniversary –...

Maersk retires Hamburg Süd, Sealand brands

Maersk plans to retire the brands of Hamburg Süd and Sealand. The integration of Maersk-owned brands is part of a strategy to unify Maersk’s structure,...

MSC Strengthens Fleet for Life Outside the 2M

MSC is continuing to buy second-hand containerships, and does not appear to have lost its appetite for ordering newbuilds, as it prepares for life...

Maersk, MSC to end alliance from 2025

Denmark’s Maersk and Swiss-based MSC, the world’s largest container shipping companies, said on Wednesday they had agreed to end a vessel sharing alliance in...

Hapag-Lloyd acquires stake in the Spinelli Group

The responsible antitrust authorities have approved Hapag-Lloyd’s acquisition of a minority stake in the Spinelli Group, after signing took place in September 2022. With...

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TORM announces secondary public offering of Class A common shares

TORM announced the commencement of a secondary public offering of 5,000,000 of the Company’s Class A common shares by OCM Njord Holdings S.à r.l.,...

Lomar Appoints Marius Bujor As Technical Director

Lomar Shipping, the shipping subsidiary of the Libra Group, has announced the appointment of Marius Bujor as its new Technical Director. Based in the...

EXMAR Reports Improved 2022 Results

During its meeting of 28 March 2023, the Board of Directors of EXMAR reviewed the results for the year ending 31 December 2022. HIGHLIGHTS 2022 ·...

Carnival Corp Posts Smaller-Than-Expected Quarterly Loss

Cruise operator Carnival Corp on Monday reported a smaller-than-expected quarterly loss and beat estimates for revenue, helped by resilient demand for leisure travel, higher...

Eva Birgitte Bisgaard steps down as chief commercial officer at Maersk Tankers

Eva Birgitte Bisgaard is stepping down from her role as chief commercial officer at Maersk Tankers. Christian M. Ingerslev, chief executive officer of Maersk Tankers,...

Wartsila sees role for ethanol in fragmented bunker fuel landscape

Wartsila is seeing a potential role for ethanol in the shipping industry’s multi-fuel future,...

Baltic index ticks up on firm demand for larger vessels

The Baltic Exchange’s main sea freight index edged up on Wednesday on higher rates...

Baltic index drops to a near 3-week low on lower vessel demand

The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk...

Baltic index falls on lower vessel demand

The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk...

Global Goods Trade Softening from 2022’s Record Level

International commerce soared to a record of $32 trillion in 2022, but goods trade...

APM Terminals to double capacity in Rotterdam port

APM Terminals, a subsidiary of Danish shipping company Maersk MAERSKb.CO, plans to double its capacity at Rotterdam Port, a spokesperson for the company said...

APM Terminals announces strategic partnership in Vietnam

APM Terminals engages in a strategic partnership with Vietnamese HATECO group for a project to develop two new deep-water berths at Lach Huyen port...

Russia-Bound Containers Stuck At Antwerp Port For Over A Year

Five Russia-bound containers from India’s Jindal Stainless Ltd (JSL) JIST.NS have been stuck at the Belgian port of Antwerp for around a year, unable...

Drewry: Port Throughput Index Down 4.5% Year-on-Year

The Drewry Container Port Throughput Indices are a series of calendar adjusted volume growth/decline indices based on monthly throughput data for a sample of...

Port of Los Angeles moves 487,846 container units in February

The Port of Los Angeles processed 487,846 Twenty-Foot Equivalent Units (TEUs) in February, a 43% decrease from the previous February’s all-time record. “February declines were...