Earlier this week we wrote about the Oetker family meeting that was to take place on Wednesday, November 30 with the aim to decide on the future of the German container shipping line Hamburg Süd and of Maersk’s interest in the deal. And today Maersk Line and the Oetker Group have reached an agreement for […]
Tag: shipping
Maersk Line interested in Hamburg Süd
Last week the information leaked that members of the Oetker family, owners of Hamburg Süd, were discussing a potential sale of the shipping line. Now the Wall Street Journal writes that Maersk Line is looking to buy the German peer, citing “people with knowledge of the matter”. The momentous meeting of the family is reportedly […]
Korea Line doesn’t take Hanjin’s ships and terminal
On 22 November, Korea Line signed a deal to acquire the Asia-US business of Hanjin Shipping. The deal worth 37 billion won (USD 31.5 mln) involves the business network and client information of Hanjin’s Asia-US route, subsidiaries in 7 countries including the US, China and Vietnam, and 574 workers based in Korea and overseas, writes […]
Russia – Iran container logistics by Caspian Sea
FESCO Transportation Group launches a new Trans-Caspian container logistics service for shipping import cargo from Iran, announces the company’s press release. FESCO Russia Iran Service (FRIS) includes shipping by Caspian Sea on board the vessels of FESCO partners, terminal handling in the ports of Olya (Russia) and Nowshahr or Bandar-e Anzali (Iran) and inland transportation […]
Korea Line wins Hanjin’s Asia-US business
On Monday, Seoul Central District Court awarded Korea Line the first right to purchase the Hanjin’s shipping assets on Asia-US route and a 54% stake in Total Terminals International LLC, an operator of Long Beach Terminal, California, writes the Wall Street Journal today. As we wrote earlier, five companies submitted initial bids for these assets, […]
HMM and Korea Line bid for Hanjin Asia-US business
Hyundai Merchant Marine (HMM) and Korea Line, owned by SM Group, have submitted final bids for the Asia-US assets of bankrupt Hanjin Shipping, writes Lloyd’s Loading List. Seoul Central District Court, which oversees Hanjin’s bankruptcy procedure, is expected to announce the preferred bidder this week. The sale is to be concluded by November 21. Hanjin’s […]
Japanese container lines integrate to become #6 in the world
Today at a joint press conference, the three Japanese shipping lines – K Line, NYK and MOL – announced of an agreement to integrate their container shipping and overseas port businesses. According to their joint statement, Kawasaki Kisen Kaisha, Ltd., Mitsui O.S.K. Lines Ltd., and Nippon Yusen Kabushiki Kaisha have signed contracts agreeing the establishement […]
Panama Canal runs below capacity
Almost 4 months passed since the Panama Canal was re-opened on June, 26th this year following its $5.25 billion widening. Now the new set of locks allows vessels of up to 14,000 TEUs (New Panamax type) to pass, compared with the previous limit of about 5,000 TEUs. However, now that shipping lines prefer sending larger but […]
Blockchain technology to change shipping practices
Israeli start-up company Wave offers a method to transmit shipping documents using innovative blockchain technology, known as the basis for the Bitcoin virtual money, thus eliminating the centuries-old practice of sending a paper bill of lading. Because shipped goods can’t be released until the bill of lading — which is usually sent separately — arrives, […]
