News

Transatlantic box volumes and rates fall in February

Transatlantic box volumes and rates fall in February

Container Trades Statistics data reveals impact of a dip in European imports SHIPPING lines operating on the transatlantic trade lane saw a small decline in volumes in February, as European imports took a tumble, but there was growth in the opposite direction. The latest figures from Container Trades Statistics show that total volumes on the trade lane — in both the eastbound and westbound direction — reached 509,900 teu in February, down from 510,400 teu a year ago. In the headhaul westbound direction, carryings increased 5.7% on-year in February to reach 297,000 teu. In the opposite direction, volumes for the month declined by 7.1%... Read more > >
MSC launches new Asia-West Africa service

MSC launches new Asia-West Africa service

More direct calls will cut out the need to tranship and aims to reduce transit times MEDITERRANEAN Shipping Co will launch a new direct service on the fast-growing Asia-West Africa trade lane to cut down on voyage times. The Geneva-headquartered shipping line said that all Asia-West Africa volumes moved via transhipment in the Mediterranean would be shipped directly to West Africa on its Africa Express Service. The service will employ 10 vessels with an average capacity of 4,000 teu. The new service will cut transit time from Chiwan in China to Tin Can Island-Lagos from the current 44 days to 28 days. The full... Read more > >
MSC launches new Asia-West Africa service

MSC launches new Asia-West Africa service

More direct calls will cut out the need to tranship and aims to reduce transit times MEDITERRANEAN Shipping Co will launch a new direct service on the fast-growing Asia-West Africa trade lane to cut down on voyage times. The Geneva-headquartered shipping line said that all Asia-West Africa volumes moved via transhipment in the Mediterranean would be shipped directly to West Africa on its Africa Express Service. The service will employ 10 vessels with an average capacity of 4,000 teu. The new service will cut transit time from Chiwan in China to Tin Can Island-Lagos from the current 44 days to 28 days. The full... Read more > >
Cargolux marks start of HNCA partnership with new route

Cargolux marks start of HNCA partnership with new route

Cargolux Airlines International is inaugurating scheduled service between Luxembourg and Zhengzhou, China, marking the beginning of the partnership between the airline and its new shareholder Henan Civil Aviation and Investment Co., Ltd. (HNCA).After operating a series of charter flights, Cargolux will start scheduled service April 24.HNCA will own a 35 percent stake in the airline after the closing of the share transaction at the end of April.Cargolux intends to operate at least four weekly flights to Zhengzhou and will start with a scheduled weekly flight on Thursdays and Saturdays. Both flights will be routed via Baku, Azerbaijan, and arrive at... Read more > >
Hapag-Lloyd merger creates 4th largest line

Hapag-Lloyd merger creates 4th largest line

German container shipper Hapag-Lloyd and its Chilean peer Compania Sud Americana de Vapores have signed a binding merger agreement that will create the world's fourth-largest container-shipping company in terms of capacity. Hamburg-based Hapag-Lloyd said CSAV would control 34 percent of the merged entity after two capital increases totalling US$1.02 billion, reported Dow Jones Newswires. The two companies will have a combined annual revenue of $12.46 million and a transport capacity of one million, 20-foot containers aboard 200 ships. Hapag-Lloyd is scheduled to be listed later this year on the Frankfurt Stock Exchange. Big mergers are rare in the container-shipping industry, which moves 95 percent... Read more > >
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