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 > >

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 > >

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 > >

Several container lines have scheduled rate hikes in multiple trade lanes from April to May, although any increases achieved could be temporary, as overcapacity continues to negatively impact carriers’ control over freight rates. Asia-Europe Maersk Line plans to raise rates on its trade from the Far East, excluding Japan, to North Europe by $525 per 20-foot container and $1,050 per 40-foot and 45-foot container, effective April 1. On the same date, Hapag-Lloyd hopes to boost rates on westbound shipments from the Far East, excluding Japan, to North Europe and the Mediterranean by $525 per TEU. In the eastbound direction from Europe to the... Read more > >

GERMAN express delivery giant DHL and Etihad Cargo have agreed to share capacity on DHL's new five times a week freighter service operating through Abu Dhabi. The new cargo services use DHL's Airbus A300-600s, operating from Bahrain to Abu Dhabi and on to Bagram, Lahore and Karachi and back to Abu Dhabi, where cargo can transfer Etihad Cargo destinations. The DHL Abu Dhabi service started in January and has already resulted in improved transit times for DHL cargo coming to the UAE from cities in Europe, the Middle East, Asia and North America. DHL shipments from the United States to Abu Dhabi now... Read more > >