Specialized news

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 > >
China players take 60% stake in Asia Container Terminals

China players take 60% stake in Asia Container Terminals

Cosco Pacific and CSTD buy into Hutchison Hong Kong port holding company COSCO Pacific and China Shipping Terminal Development have bought a 60% stake in one of Hong Kong’s main container terminals for a total consideration of HK$2.5bn ($322m). Cosco Pacific will take 40% and CSTD 20% in Asia Container Terminals, the holding company of Asia Container Terminals, which owns and operates Container Terminal 8 West, from Hutchison Port Holdings Management. Cosco Pacific vice-chairman and managing director Wang Xingru said: “Further to our existing successful joint venture with HPH Trust at Cosco-HIT’s Terminal 8 East in Hong Kong, I believe that Terminal 8... Read more > >
Asia-Europe volumes rise 8% in January

Asia-Europe volumes rise 8% in January

Trade carries the largest number of containers for a month since August THE Asia-Europe trade lane has started the year strongly with volumes increasing by more than 8% on-year in January, according to Container Trades Statistics, which reports that carriers handled 1.4m teu in January, up from 1.3m teu a year earlier. The on-year increase is the largest seen on the trade lane since August, when volumes leapt by more than 10%. It is also the largest amount of containers transported on the trade lane in a single month during the last three years, when CTS began providing data to Containerisation International. January... Read more > >
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