South Korean container lines set to launch K-Alliance on Asia trades

The post-Hanjin evolution of South Korea’s shipping industry took another step forward last month with the formation of the K-Alliance.

Comprising HMM, SM Line, Pan Ocean and recently merged Sinokor Merchant Marine and Heung-A Line, the alliance will strengthen the carriers’ competitiveness in South-east Asia, according to Korea’s ministry of oceans and fisheries (MOF).

It said the alliance represented about 40% of Korea’s annual container volumes of 480,000 teu with the region, adding that this is a market share that’s under pressure due to the “aggressive expansion” of international players.

Launching in the second quarter, the code-sharing agreement between the carriers will help reduce costs and increase quality of service, the MOF added, while the alliance members will also be offered preferential interest rates for new vessel orders.

For the full story, please click HERE

Source: The Load Star

CMA CGM ramps up its capacity between Asia and Europe in response to unprecedented demand

  • Capacity boosted between Asia and Europe to meet customer requirements amid unprecedented demand for shipping services.
  • Four weekly calls in France and more space for the French market with a new import call by the FAL 1 line in Le Havre.
  • Innovative solutions implemented to address the container shortage and port congestion.

Capacity boosted between Asia and Europe

The CMA CGM Group has accelerated the redeployment of its capacity, demonstrating once again its agile approach and the commitment of its employees. CMA CGM has boosted the capacity assigned to lines between Asia and Europe by 6% for the fourth quarter of 2020 compared to the same period of 2019. It will make further additions in the first quarter of 2021, when capacity will be 10% higher than in the current quarter. Practically speaking, this ramp-up will be provided by:

A new class of nine 9 23,000-TEU LNG-powered vessels assigned to Asia-Europe trade, three of which are already in service.

Two extra loaders operating on routes between Asia and Europe, providing over 9,000 TEU in total capacity, with special departures from China to France and the Netherlands in late December 2020.

No blank sailing departures on the FAL 1 and FAL 3 lines since the recovery began in Asia in mid-May.

For the full story, please click HERE

Source: AJOT

More misery for UK importers: Maersk hikes import haulage tariff on Brexit Day

Maersk has announced plans to increase its import haulage tariff for the UK and Ireland on 1 January, as freight rates continue to spike by “crazy” amounts.

The timing could not be more inopportune, adding further misery to importers and a port sector bracing itself for what is expected to be “utter chaos” in the new, and as yet unknown, trade regime between the EU and the UK.

Maersk said the “adjustment” to its import haulage tariff was to reflect cost increases within the industry.

It told customers: “Please refer to the Maersk website for specific rates. We want to thank you for your business and look forward to continuously serving your global transport needs.”

While freight rates have been going “crazy” in recent weeks, haulage tariffs have remained stable for more than a year.

For the full story, please click HERE

Source: The Load Star

‘Forwarders are with us’ as we drive into logistics, says Maersk

Maersk’s integrator strategy has not lost its support from freight forwarders, according to its ocean and logistics CEO, Vincent Clerc.

Yesterday, Maersk announced bumper profits for Q3, and Mr Clerc told the Hong Kong’s Asian Logistics, Maritime and Aviation Conference the group was also seeing a gradual expansion of its logistics business.

“That is really based on the confidence that more and more customers are placing in Maersk for doing more, or taking a different place in their supply chain than we have in the past,” he said.

Given the flip-flopping between the Maersk and Damco brands, Mr Clerc described the integrator plan as being “on and off”, but insisted it was a continuation of a long-term strategy that had already built “a significant logistics business”.

For the full story, please click HERE

Source: The Load Star

ZIM crushes all-time earnings records

ZIM Integrated Shipping Services used an exclamation point in its third-quarter earnings statement Wednesday to make the point its net profit of $144.4 million was “an all-time record!”

It was a result worthy of an exclamation point as net profit skyrocketed 2,818% from the $5 million posted in Q3 2019.

Another all-time record was set with adjusted earnings before interest, taxes, depreciation and amortization (EBITDA), which came in at $262.1 million in the third quarter, a 145.4% leap from the $106.8 million reported in the same period last year.

ZIM also used the “all-time record” phrase for earnings before interest and taxes (EBIT), which totaled $189.4 million in Q3, a 364.2% trajectory from $40.8 million in the third quarter of 2019.

“This remarkable and exceptional achievement stems from our long-term strategy and vision and reaffirms it. I expect Q4 results to be at least as high as Q3 results,” ZIM President and CEO Eli Glickman said in Wednesday’s release.

For the full story, please click HERE

Source: American Shipper