Global container shipper Hapag-Lloyd records H1 loss of $122 million on higher operational costs

Global container shipper Hapag-Lloyd recorded a net loss of $122.3 million in H1 compared with a loss of $44.6 million a year ago as its bunker fuel expenses, charter rates and intermodal cost increases were more than originally expected, it said. Bunker fuel prices rose by as high as 23% year on year to $385/mt
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LONDON: Despite moderating perishable seaborne trade growth, continued modal shift will sustain expansion in the containerised reefer trade and so support freight rate development, according to Drewry’s latest Reefer Shipping Annual Review and Forecast 2018/19report, by global shipping consultancy Drewry. Global seaborne reefer trade continues to expand, posting a gain of over 5% in 2017
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While there may be clouds on the horizon in the form of tariff and trade war fears, economic fundamentals are likely to win-out in the long run, according to the Global Container Terminal Operators Annual Review and Forecast 2018 by global shipping consultancy Drewry. Against this positive picture near term container port capacity expansion will
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The Port of Long Beach saw a decline in container volumes in July compared to the same month a year ago, which hit a historic high that has since been surpassed. The drop, 4.4 percent, was attributed to shipping alliances’ decisions in July to shift vessel deployment and port calls. Port officials also raised concerns
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Kalmar, part of Cargotec, has concluded a deal with Hamburger Hafen und Logistik AG (HHLA), the leading European port and transport logistics group, to supply a total of 10 new straddle carriers. This brings the total number of Kalmar straddle carriers ordered by HHLA in the last two years to 30, further demonstrating the strong
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(The) “statement by the Djibouti government states that it does not acknowledge the decision of the London Court of International Arbitration demonstrates that Djibouti does not recognise the international rule of law. The Court’s decision upholding the continuing validity of the Concession is based on recognised principles of international law and is internationally binding both
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Chennai Port has achieved another landmark performance by handling 69 container rakes during July 2018, surpassing the previous best of 67 rakes in the same month last year. Mr P. Raveendran, IRTS, Chairman, Chennai Port Trust, appreciated the efforts taken by CONCOR and the port officials towards attaining this record. He was hopeful of more
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NEW DELHI: Indian Railways transport nearly one billion tonnes of goods every year, which is considerably a huge volume. The freight traffic handled by Indian Railways has increased more than 15 fold from 73.02 million tonnes in 1950-51 to 1106.15 million tonnes in 2016-17. However, capacity bottlenecks have resulted in non-realization of the maximum potential
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LONDON: The medium term outlook for global container port demand growth is positive thanks to strong underlying economic momentum across the World’s major economies. While there may be clouds on the horizon in the form of tariff and trade war fears, economic fundamentals are likely to win-out in the long run, according to the Global
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For the first time ever, Shipping Corporation of India (SCI) deployed its own container vessel at the eastern ports of Haldia and Kolkata by docking her flagship vessel m.v. Lal Bahadur Shastri at Haldiaon July 20, 2018. The vessel, of LOA 188.7 m, breadth 28.4 m, DWT 28,803 MT with 1,869 TEUs capacity, is one
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