Ocean Transportation

Dachser Opens Three Southeast Asian Offices to Handle Logistics Demand

November 4, 2016

Citing a rising demand for logistics across the Southeast Asia region, Dachser USA Air & Sea Logistics has announced new offices in Vietnam, Hong Kong and India. Dachser USA, a U.S.-based subsidiary of Germany's Dachser SE, said the new locations have been set up in Hanoi, the New Territories of Hong Kong and Mumbai.

Container Shipping Market Is Unpredictable, But Prices Are Climbing, Xeneta Reports

November 3, 2016

Xeneta

An in-depth analysis of Q3 container shipping costs revealed positive trends for the container carrier segment, according to Xeneta, a market intelligence company for containerized ocean freight. However, the market remains unpredictable, with the 'Hanjin Effect' ebbing away, Xeneta says.

South Korean Government to Fund Shipbuilding

November 2, 2016

Maritime Executive

South Korea's finance minister has announced the government plans to support orders of 250 or more vessels by 2020 to help local shipbuilders. The government plans to establish a state-backed ship financing company with an initial capital of 1 trillion won ($871.73m) to help improve the financial health of Korean shipping companies.

Stifel Logistics Confidence Index Reaches 13 Consecutive Months of Negative Outlook

November 2, 2016

Transport Intelligence

The Stifel Logistics Confidence Index - which measure logistics industry outlook - remained below the neutral mark in October at 49.4, but once more noted a slight improvement against the previous month, according to global logistics researcher Transport Intelligence. In a sign that the bankruptcy of Hanjin Shipping has had little overall effect upon the container shipping industry, the October Sea Freight Confidence Index remained unchanged from September, at 49.0 points.

Offshore Downturn Is Impacting Sea Time, Mariners Warn

November 1, 2016

Maritime Executive

The current downturn in the offshore industry has put offshore supply vessels into layup, operators into receivership and shipbuilders into a tailspin, industry professionals say. It has meant layoffs for thousands of mariners, but it's also having an impact on officers in a different way: a shortage of sea time.

Evergreen Line Enhances Asia-Australia Network

October 31, 2016

Evergreen Line

In hopes of offering shippers a more comprehensive service on Asia-Australia trade, Evergreen Line has announced a new joint North East Asia-Australia Express (NEAX) service. The Taiwanese container transportation and shipping company is teaming up with Orient Overseas Container Line, Mitsui O.S.K. Lines, "K" Line and YangMing Marine Transport Corp.

Hanjin to Halt E.U. Routes, Operations This Month

October 31, 2016

Maritime Executive

Hanjin Shipping's European routes services have completely halted, the company said last week, and a Seoul court overseeing its receivership process has approved winding down four of its European units.

Russia Adds Deepwater Port to 15-Year Transport Strategy

October 27, 2016

Maritime Executive

A new deepwater port is planned for Arkhangelsk in the north of European Russia, according to Northern Shipping Company Arkhangelsk, a Russian shipping company. The new deepwater hub will be suitable for year-round handling of large capacity vessels and will be situated 55 kilometers (34 miles) north from Arkhangelsk near Mudyug Island, in the northern part of the Sukhoye Morje Bay, says NSC Arkhangelsk.

Gearbulk and Grieg Star Combine Their Fleets

October 25, 2016

Maritime Executive

Gearbulk and Grieg Star have announced that they will be combining their efforts to form a single dry bulk shipping company. They say the joint venture will operate the parties' combined fleet of open hatch, semi open hatch and conventional bulk vessels.

Hyundai Merchant Marine Considering Hanjin Route

October 21, 2016

Maritime Executive

South Korea's Hyundai Merchant Marine said this week it may submit a preliminary bid for Hanjin Shipping assets used in Asia-to-U.S. routes - a sale that could be key to Hanjin's prospects for paying off creditors. Hanjin, which filed for court receivership on August 31 after its creditors cut off financial support for the firm, put up manpower and logistics systems, five container ships and 10 overseas businesses for sale last week.