AJOT | August 19, 2024 | Maritime | Liner Shipping
Pacific International Lines (PIL) has introduced a new weekly direct service connecting key ports in China and Bangladesh.
• Reported revenues of $1.93 billion, net income of $373 million, adjusted EBITDA of $766 million and adjusted EBIT of $488 million ; achieved adjusted EBITDA and adjusted EBIT margins of 40% and 25%, respectively • Achieved 11% volume growth with record carried volume of 952 thousand TEUs • Increased full year 2024 guidance to adjusted EBITDA of $2.6 billion to $3.0 billion and adjusted EBIT of $1.45 billion to $1.85 billion • Declared dividend of $112 million, or $0.93 per share
AJOT | August 19, 2024 | Maritime | Liner Shipping | Ports & Terminals
AJOT | August 19, 2024 | Energy | Green Shipping | Maritime | Liner Shipping
Pacific International Lines (PIL) is stepping up on its fleet renewal program and has ordered five new container vessels with 13,000 TEU capacity, equipped with liquefied natural gas (LNG) dual-fuel engines.
AJOT | August 08, 2024 | Maritime | Liner Shipping
Shippers should anticipate continued volatility in container shipping freight markets through 2025, with even the re-start of operations through the Suez Canal not guaranteeing immediate respite from disruptions and soaring freight rates, according to Lars Jensen, CEO of Vespucci Maritime.
In addition to its transport solutions from Asia to Europe, the logistics provider has now expanded its service offering in the opposite direction as well.
AJOT | August 07, 2024 | Maritime | Liner Shipping
• Majority of US container traders surveyed anticipate further container price hikes in August, 92% expect volatility • China to US and China to Europe container leasing rates surge in July • Backhaul rates continue to stay strong owing to demand for containers in Asia
According to the findings from Descartes' global trade software Descartes Datamyne, July 2024 U.S. container imports hit a 26-month high, growing 11.2% to 2,556,180 twenty-foot equivalent units (TEUs). This also marks the first time in 22 months that volumes have been above the 2.4 million TEU level that created port congestion and delays during the pandemic. Despite the increased volume in July, port transit time delays showed little impact with largely negligible improvement or decline.
Bloomberg | August 07, 2024 | Green Shipping | Maritime | Liner Shipping
Shipping giant A.P. Moller-Maersk A/S is in the process of securing 50-60 vessels as part of its fleet renewal program, including ships that will be able to run on liquefied natural gas, a fuel the company has criticized in the past.
AJOT | August 07, 2024 | Air Cargo | Freighters | Maritime | Liner Shipping
But signs volumes may have peaked
AJOT | August 07, 2024 | Air Cargo | Freighters | Intermodal | Maritime | Liner Shipping
The Freight Transportation Services Index (TSI), which is based on the amount of freight carried by the for-hire transportation industry, fell 0.3% in June from May, after a one-month increase, according to the U.S. Department of Transportation Bureau of Transportation Statistics (BTS).
Bloomberg | August 07, 2024 | Maritime | Liner Shipping
A.P. Moller-Maersk A/S is looking for new acquisition targets after recently walking away from what would have been its biggest ever deal, the chief executive officer said.
AJOT | August 06, 2024 | Maritime | Liner Shipping
MSC Canada will be implementing an Emission Reduction Fee applicable to all laden containers that load from/to Canada West Coast.
AJOT | August 05, 2024 | Maritime | Liner Shipping
Effective as from September 2nd, 2024 a MSC General Rate Increase (GRI) will be applicable for all cargo ex. USA & Puerto Rico to Middle East and Gulf (United Arab Emirates, Bahrain, Saudi Arabia, Qatar, Kuwait, Oman, Iraq) with the following quantum:
The MS BRC levels applicable for Australia, New Zealand, Fiji, Noumea & Bell Bay to USA effective September 1st, 2024, will be the following:
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