Korea Development Bank doubles its stake in HMM
KOREA : Korea Development Bank (KDB), which is already the largest shareholder of HMM, will double its stake in South Korea’s flagship liner operator by changing KRW300 billion (US$265.3 million) of convertible bonds into
HMM confirms a dozen 13,000TEU vessels order
HMM has signed newbuilding contracts with Daewoo Shipbuilding & Marine Engineering (DSME) and Hyundai Heavy Industries (HHI) for twelve 13,000TEU container ships. The total cost of the new container vessels is US$1.57 billion, according
Hapag-Lloyd opens new office in Ukraine
ODESSA: Hapag-Lloyd has announced the opening of a new office in Ukraine, a country in Europe located on the northern shores of the Black Sea and the Sea of Azov. The new office will
NYK conducts trial use of Biofuel to advance Decarbonization
TOKYO : In June, NYK bulk carrier Frontier Jacaranda conducted a trial use of biofuel made from waste cooking oil collected and refined in Singapore. The test run was performed in cooperation with Anglo
Box rates up 332% year-on-year, schedule reliability hits dire new lows
LONDON : Shippers might be paying 332% more per box that they were this time last year, according to the latest data from Drewry, yet they’re having to put up with the worst schedule reliability
Hapag-Lloyd suspends Bangladesh bookings
HAMBURG : Hapag-Lloyd has announced that bookings to Bangladesh are temporarily suspended due to the increased backlog in Singapore for cargo moving into Bangladesh. The German carrier said on 24 June that all bookings
MSC linked to another five boxship buys
GENEVA : Having added around 60 secondhand vessels over the last 10 months, Mediterranean Shipping Company (MSC) shows no sign of slowing down its buying spree with brokers reporting the acquisition of another five boxships.
Søren Toft lays out MSC’s position on path to decarbonisation
GENEVA : Nearly seven months into the job and Søren Toft is getting his views across this week. The CEO of Mediterranean Shipping Co (MSC) gave his first major international interview to the Financial Times earlier