Hapag-Lloyd CEO Rolf Habben Jansen said on Thursday that it would not be in the container shipper's interest to make a counter offer for HHLA, the main operator of Hamburg port, and may instead cut its traffic through the hub.On Wednesday, Switzerland-based MSC, the world's biggest container shipping company, offered to buy almost half of the port operator in a deal that could be worth nearly 1.
Swiss-based MSC, the world's biggest container shipping company, has offered to buy almost half of the main operator of Hamburg port in a deal that could be worth nearly 1.3 billion euros ($1.4 billion), setting the stage for a potential bidding war.Shares in HHLA, which runs Germany's biggest port
Some of the world's largest ports may be unusable by 2050 as rising sea levels hit operations, and efforts to speed up decarbonization of the maritime sector and bring in new technology are vital, a study showed on Friday.Weather-related disruptions are already impacting ports across the globe. These include a drought which is hampering operations in the Panama Canal, a top waterway.
Insurers are reviewing whether to freeze cover for any ships willing to sail to Ukraine after Russia on Monday quit a U.N.-backed deal that allows the export of grain through a wartime Black Sea safe corridor, industry sources said.The agreement, brokered by Turkey last July, aimed to alleviate a global food crisis by allowing Ukrainian grain blocked by Russia's February 2022 invasion of its
Contaminated marine fuels from several suppliers led to fouled engines on about a dozen vessels operating from the U.S. Gulf Coast this spring, according to Lloyd's Register and marine fuel testing service VPS.The tainted fuel was the first major occurrence along the U.S. Gulf Coast since 2018, when about 200 ships had engines fouled by fuel containing an epoxy, said Steve Bee
The ALS Ceres was delivered to ABS class on May 29 and is the first in a series of six 7,100 teu container carriers designed by Shanghai Merchant Ship Design and Research Institute (SDARI) and built by Dalian Shipbuilding Industry Company (DSIC) for Asiatic Lloyd Maritime LLP, Singapore.
An Indian agency has stepped in to provide safety certification for most of Gatik Ship Management's fleet, a major carrier of Russian oil to India, after Lloyd's Register and the American Bureau of Shipping (ABS) withdrew classification for many of its vessels, records show.Mumbai-based Gatik, which has emerged this year as a significant player in Russian oil transport
Lloyd's Register has told India's Gatik Ship Management, which has become a major carrier of Russian oil since the Ukraine war, that it will withdraw certification of 21 of its vessels by June 3, the maritime services company told Reuters.It is the latest setback for Gatik, which was also been forced to find new flags for 36 of its ships after they were deflagged by the St.
Container freight rates will keep declining in the current realignment of shipping demand and supply, said the chief executive of Germany's liner Hapag Lloyd, the world's number five by transport capacity."The party is over. We are back to a normal shipping business," CEO Rolf Habben Jansen told reporters at a briefing late on Tuesday on the state of the market
German shipping company Hapag-Lloyd announced it has signed a binding agreement today under which it will acquire 35% of J M Baxi Ports & Logistics Limited (JMBPL) from a Bain Capital Private Equity affiliate.Additionally, Hapag-Lloyd AG signed a binding agreement with JMBPL and its promoters, the Kotak family
German container liner Hapag-Lloyd on Thursday announced it has completed its acquisition of a minority stake in Italy-based logistics company the Spinelli Group as global shipping firms continue to expand their port presence amid prolonged supply chain disruption.The deal was first announced in September but remained subject to the approval of antitrust authorities.
Hapag-Lloyd AG and SM SAAM have signed a binding agreement under which Hapag-Lloyd will acquire 100 % of the shares of SAAM Ports S.A. and SAAM Logistics S.A. and thereby the entire company’s terminal business and associated logistics services.The contracting parties agreed upon a price of around $1 billion, which also includes real estate assets related to the logistics business.