ShippingWatch

Turning 30 years and following recent executive board changes, Fleet Management Limited has evolved and adjusted its growth strategy which so far has excluded mergers and acquisitions. “Building on the legacy, we will pursue organic growth and also consider strategic partnerships such as acquisitions or joint ventures. We are open to everything, and retain control of our own destiny,” says Angad Banga, the son of founder Harry Banga and COO of Fleet Management’s parent company, The Caravel Group , during the interview. #shipping #freight #oceanfreight #strategy #growth #hongkong

Though rates are skyrocketing, a price cap could make carriers favor larger customers and hold back from deploying needed capacity. So writes Lars Jensen, analyst and founder of Vespucci Maritime, in his column for ShippingWatch. "In this context it is not surprising at all that shippers are increasingly voicing frustration over the rising freight rate levels, and some even have called for the introduction of some sort of price control," he writes. #shipping #containershipping #freight #oceanfreight #logistics #business #finance #globaltrade

There aren’t enough young people in the shipping world, and that’s a mistake, according to an agreement signed between the Singapore Maritime Foundation (SMF) and Pertamina International Shipping Pte Ltd.  The two parties are joining forces to ensure that more young people are attracted to the world’s shipping industry. #shipping #freight #business #recruitment #singapore

Maersk Supply Service CEO Christian M. Ingerslev will step down, and synergies will trigger redundancies, he says after the sale to DOF. What is next for the CEO he does not know yet. "I have to admit that it’s not something I’ve planned for,” he says to ShippingWatch. The same uncertainty about the future will also hang over the heads of many of the employees working in Maersk Supply Services HQ in Denmark. #shipping #freight #offshore #oceanfreight #layoffs #management #business #mergersandacquisitions

MSC Mediterranean Shipping Company should not be allowed to buy almost half of the Port of Hamburg’s top terminal operator, HHLA Hamburger Hafen und Logistik AG, at a bargain price, says local politician Götz Wiese. He is a strong critic of the deal, and he has therefore complained to the European Commission about the deal, and in his complaint, Götz Wiese focuses on the price MSC pays for the HHLA shares, which according to experts is set far too low. #shipping #containershipping #ports #infrastructure #logistics #business #investing #europe

Hafnia’s chief executive, Mikael Skov, takes advantage of the strong tanker market to sell one million shares in the shipping company. He sells at a price of just over NOK 8.8 each for a total gain of around NOK 87m (USD 8.2m), according to a statement from the tanker operator. #shipping #globaltrade #finance #business

The global container fleet has grown by 2.8 million teu in the past year, and most of the expanded capacity have naturally been added to the route from Asia to Europe. So writes Alphaliner. ”(....) the strong growth of the fleet deployed in liner services to and from Latin America might catch some by surprise,” the research firm writes, adding that Hapag-Lloyd AG, COSCO SHIPPING Europe and CMA CGM in particular have deployed new reefer capacity on the route. #shipping #containershipping #oceanfreight #freight #europe #logistics #business #globaltrade

Maersk Supply Service has become worth USD 415m more in 16 months. The shipping company has just changed hands for the second time in a year and a half. Since the shipping giant A.P. Moller - Maersk sold the company to its own owner, A.P. Moller Holding, in March 2023, the value has shot up. Back then, the value was approximately USD 685m. The deal with DOF values the company at USD 1.1bn – a price the Norwegians are happy with. #shipping #freight #offshore #oceanfreight #business #finance #investing #mergersandacquisitions

The Port of Hamburg’s major terminal operator HHLA Hamburger Hafen und Logistik AG tested a large new hydrogen system for the first time this week. This is an important component towards greener logistics at the port. #shipping #containershipping #ports #logistics #infrastructure #energytransition #business

For the first time in the history of the Swiss-Italian shipping group, MSC Mediterranean Shipping Company now accounts for 20% of the total world fleet. At the same time, MSC is approaching another milestone. Soon, the company will have a capacity of more than 6 million teu, writes Alphaliner. #shipping #containershipping #freight #oceanfreight #growth #strategy #business