News
Lufthansa Cargo profits wiped out in Q3
Operating income for Deutsche Lufthansa AG’s cargo division collapsed to near zero during a seasonally weak third quarter, and the company indicated full-year...
Germany Will Raise Cargo Ship Verity as Collision Investigation Proceeds
German authorities announced today that they plan to salvage the wreck of the Isle of Man-registered cargo ship Verity which sunk on October 24 after colliding with...
Shipping industry steers container production away from China
Push comes after pandemic highlighted reliance on manufacturers in world’s second-largest economy The shipping industry is stepping up efforts to build stee...
‘World’s 1st’ ammonia-powered containership set to debut in 2026, Yara says
November 2, 2023, by Jasmina Ovcina Mandra Yara Eyde, which has been described as the world’s first containership to be powered by pure ammonia as fuel, is sc...
Maersk's woes signal slow-motion industry crash
LONDON, Nov 3 (Reuters Breakingviews) - Shipping giant A.P. Moller-Maersk (MAERSKb.CO), opens new tab is battling choppier seas. On Friday, the $23 billion Danish fi...
Maersk cutting at least 10,000 jobs as shipping boom unravels
COPENHAGEN, Nov 3 (Reuters) - Shipping group A.P. Moller-Maersk (MAERSKb.CO), opens new tab, reported a steep drop in third-quarter profit and revenue on Friday and...
Cargo Ship Loses Containers in Northern Canada
Recovery operations are underway after a Canadian cargo ship lost about 20 containers overboard in northeastern Canada on Friday. The cargo loss involved the M/V...
Some shipping lines are still posting 9-figure profits amid downturn
The predicted container shipping wipeout is not here yet. Several container lines are still posting nine-digit quarterly profits, despite a tepid peak season, slumpi...
Shipping braces for impact as Panama Canal slashes capacity
After its driest October on record, the Panama Canal will severely restrict transit capacity to conserve water. Shipping will feel the effects in the months ahead, w...
Port of Los Angeles Reports Increase in September Cargo Volumes
The Port of Los Angeles has announced a rise in cargo volumes for the month of September, following in the footsteps of its neighboring Port of Long Beach. The Po...
24 February 2024
