Cosco going the whole hog 
Cosco Shipping is preparing another major investment. The Chinese carrier is to spend USD 4.9 billion on expanding its fleet in order to rise in the rankings and improve its position among the major global shipping companies. The group will invest the funds from 2023 to the... more
More capacity for Safran service
The carrier CMA CGM is planning to improve the schedule reliability of its Safran service connecting North Europe with East Coast South America by deploying a ninth vessel with effect from 15 November 2022. The unit will start its journey from Antwerp. At the same time, the... more
Second ULCV for Evergreen is on
The Taiwan-headquartered carrier Evergreen Marine has taken delivery of the second 24,000 teu containership from Hudong-Zhonghua Shipbuilding. The mega container ship “Ever Aria” follows its sister ship “Ever Alot” delivered in June this year. Both newbuilds have been flagged in... more
A big takeover for Abu Dhabi Ports
In mid-September 2022, the Abu Dhabi Ports Group completed the acquisition of a 70% equity stake in the Egyptian companies Transmar International Shipping Company (“Transmar”) and Transcargo International (“TCI”). The total value of the transaction amounts to AED 514 million... more
Less stress in Los Angeles
In August, container throughput at the Port of Los Angeles declined for the first time in almost two years. The port handled an estimated 806,000 teu this month, approximately 15% less than the same period in 2021. Seasonal reasons apply, as Port of Los Angeles executive... more
A hydrogen bridgehead in Gothenburg
In partnership with Nilsson Energy, a hydrogen filling station for heavy vehicles is being planned in the hinterland of the Port of Gothenburg. The facility will be right next to the entrance to the Gothenburg ro-ro terminal. It will supply green hydrogen only and is set to be... more
Energy as a critical factor 
Pursuing a four-pronged strategy to transform energy use and to reduce emissions. CMA CGM is seeking to link the transition to new propulsion and fuel options with its decarbonisation strategy. Over the next five years the carrier is set to pour USD 1.5 billion into research... more
Fresh cash for Xeneta
Xeneta, an ocean and air freight rate benchmarking platform headquartered in Oslo, has completed another investment round. USD 80 million were raised by Apax Digital, the growth equity arm of Apax, with participation from New York-based Lugard Road Capital. This investment... more
Barcelona coalition for sustainable shipping
The Port of Barcelona and the main operators in the cruise sector, both cruise companies and terminals, have agreed to create a working group to speed up the connection of ships to the general electricity grid once they are docked, using clean energy that is certified 100%... more
A new stakeholder for the Spinelli Group
The Genoa-headquartered Italian Spinelli Group is selling part of its shares to Hamburg carrier Hapag-Lloyd. The German container liner-shipping company will acquire a 49% stake in the Spinelli Group from existing shareholders, while the Spinelli family will continue to hold the... more