Hapag Lloyd News

Hapag-Lloyd has ordered 24 new container ships from two Chinese shipyards with a combined investment volume of about $4 billion, it said on Wednesday.Twelve ships, each with a capacity of 16,800 TEUs (twenty-foot equivalent units), will be built by Yangzijiang Shipbuilding Group, while the other 12, with a capacity of 9,200 TEU each, will come from New Times Shipbuilding Company Ltd.According to Hapag-Lloyd, the ships, which will be delivered between 2027 and 2029, will feature liquefied gas dual-fuel engines…

International shipping company Hapag-Lloyd raised its full-year earnings guidance on Thursday citing stronger-than-expected demand and higher freight rates.Despite increased expenses from the diversion of vessels around the Cape of Good Hope, Hapag-Lloyd says it now expects earnings before interest, taxes, depreciation, and amortisation (EBITDA) for 2024 of between $4.6 billion and $5 billion, up from previous guidance of $3.5 billion to $4.6 billion.However, given very volatile freight rates and major geopolitical challenges…

The Global Centre for Maritime Decarbonisation (GCMD) and Hanwha Ocean have announced a five-year strategic partnership to advance low and zero carbon fuels, energy efficiency technologies and onboard carbon capture.The GCMD was established as a non-profit organization in 2021 founded by BHP, BW Group, Eastern Pacific Shipping, Foundation Det Norske Veritas, Ocean Network Express and Seatrium. GCMD also receives funding from the Maritime and Port Authority of Singapore (MPA), and bp…

The two people leading Hapag-Lloyd and Maersk into the new Gemini Cooperation spoke at the Xeneta Summit in Amsterdam last week expressing confidence in the new alliance achieving its ambition of 90% service reliability.The Gemini Cooperation will begin operating on February 1 next year, with a new hub and spoke approach of mainliner and transshipment services designed to increase reliability.Rolf Habben Jansen, CEO of Hapag-Lloyd, and Kenni Skotte, Vice President and Head of Ocean Network Product at Maersk…

Shares in shipping companies fell heavily in Europe and Asia on Friday after workers and U.S. port operators agreed a deal to end a strike on the East and Gulf coast docks far sooner than expected.In early trading in Europe, shipping group A.P.

U.S. East Coast and Gulf Coast ports began reopening late on Thursday after dockworkers and port operators reached a wage deal to settle the industry's biggest work stoppage in nearly half a century, but clearing the cargo backlog will take time.The strike ended sooner than investors had expected, weakening shipping stocks across Asia on Friday as freight rates were no longer expected to surge.At least 54 container ships queued outside the ports as the strike had prevented unloading and threatened shortages of anything from bananas to auto parts.

Maersk and Hapag-Lloyd could add more container vessels to an alliance announced earlier this year if shipping disruptions in the Red Sea continue, the companies said on Tuesday.Attacks in the Red Sea by Iran-aligned Houthi militants have since late last year forced shipping companies to reroute traffic away from the Suez Canal and instead sail around Africa, a longer journey that ties up more capacity.Maersk and Hapag-Lloyd in January said they had agreed on a new collaboration, starting in February of 2025, to transport a combined 3.4 million containers annually with a fleet of 290 vessels,

In February 2025, Maersk and Hapag-Lloyd will launch their Gemini Cooperation aimed at delivering a flexible and interconnected ocean network with schedule reliability above 90% once fully phased in.The companies unveiled the concept in January 2024 and have been working on finalizing the details of a joint ocean freight network on East-West trades. Depending on which network the cooperation will phase in, the new network will consist of either 300 or 340 vessels:Trans-Suez Network: Approx.

The Alette Maersk was the first container vessel powered by low-carbon methanol fuel to cross the Pacific Ocean - a milestone in the shipping industry's effort to reduce its climate impact.But when the 1,148-foot (350-meter) vessel arrived at the Port of Los Angeles from China last week, there was nowhere in the U.S. to buy more of the green fuel, forcing it to rely heavily on petroleum-based maritime fuel for the return trip.At a day-long ship naming event on Tuesday, A.P. Moller…

German ocean carrier Hapag-Lloyd announced it has taken delivery of a new ultra-large container vessel from South Korean shipbuilder Hanwha Ocean.The 399-meter-long, 23,660 TEU Hamburg Express is the seventh newbuild in a series of 12 "Hamburg Express" class containerships—the largest to ever sail under the German flag. The series' first vessel, Berlin Express, was delivered in 2023, and the remaining ships will be delivered through the end of 2025.Each ship features MAN B&W11G95ME-C10.5-GI dual fuel main engines…

The global ship order book, representing 18% of the world fleet, is expected to increase, but within plausible levels, the head of German container liner Hapag-Lloyd told analysts on Wednesday."I expect the 18%, which as such is not worrying, to nudge up a bit, but delivery windows are long and so it does not have to be a problem," said Rolf Habben Jansen, CEO of the company, which is the fifth-biggest worldwide in terms of operating tonnage.The company reported lower net profit in the first half of 2024 but expected a good performance going forward amid high demand and spot freight rates, whi

Shipping giant CMA CGM said on Thursday that brisk international trade and Red Sea disruption supported its main maritime division in the second quarter and should limit any market slowdown later this year as new ship capacity arrives.The world's third-largest container shipping line reported a 6.8% year-on-year increase in volumes in the second quarter. Volumes also rose more than 6% from the first three months of the year when the group started seeing an upturn in demand.Restocking by U.S.

The Global Centre for Maritime Decarbonisation (GCMD) has successfully completed its final supply chain trial for biofuel blended with very low sulfur fuel oil (VLSFO).This marks the end of a series of trials initiated in July 2022 as part of a larger pilot to develop a framework to provide quality, quantity and GHG abatement assurances for drop-in fuels.In this final trial, bp provided the B30 biofuel blend to the TIHAMA, a 19,870 TEU container vessel operated by Hapag-Lloyd.The…

The cost to ship a standard 40-foot container of toys, auto parts or other goods from Shanghai to New York has jumped to nearly $10,000, fueling frustration among importers and prompting some experts to say the market is in a bubble.The Drewry World Container Index's spot rate for such a shipment hit $9,387 on July 11. That is more than double the rate from February but still below the peak of $16,000 early in the pandemic when it swelled due to spree buying by homebound consumers.Industry…

A global operational alliance between two of the world’s largest container shipping companies will not go into effect next week as planned following a move by the U.S. Federal Maritime Commission to study the potential competitive impacts of the arrangement.The FMC said on Friday it is seeking more information to determine the potential competitive impacts of the proposed Gemini Cooperation Agreement, which would allow ocean carriers Maersk and Hapag-Lloyd to share vessels in the trades between the United States and Asia…

Solid container shipping demand has driven up freight rates over the past two months, Hapag-Lloyd chief executive Rolf Habben Jansen said in a call with reporters on Wednesday.Attacks on vessels by Yemen-based Houthi militants have led shipping firms to avoid the Red Sea that connects with the Suez Canal and instead use a longer route around southern Africa, a situation whose end was hard to predict, he said."We have seen solid demand, particularly since May 1, that meets with limited availability, also because of the Red Sea situation, that's why spot rates are going up," Habben Jansen said.T

A new partnership between container carrier Hapag-Lloyd and tech company ZeroNorth will aim to develop and launch a new bunker procurement and planning solution for the maritime industry.The partners said on Wednesday that they will set out to create a new digital solution that enables Hapag-Lloyd to effectively navigate the energy transition, reduce fuel spend, and cut cost to serve.Jan Christensen, Senior Director Global Fuel Purchasing, Hapag-Lloyd, said, “We have a clear strategic direction to advance decarbonization across our fleet and across our business.

German shipping company Hapag-Lloyd does not anticipate the shipping industry to resume sailing through the Suez Canal anytime soon, even if a ceasefire between Hamas and Israel was reached now, a spokesperson for the company told Reuters on Tuesday.The comments from the world's fifth-biggest shipping firm come after Palestinian groups welcomed a U.N. Security Council resolution backing a proposal for a ceasefire in Gaza.Hapag-Lloyd and Danish peer Maersk shares were down 5-6% this afternoon on the news.But "even if there were to be a ceasefire now…

Hapag-Lloyd Chief Executive Rolf Habben Jansen said on Wednesday that demand for container shipments across the world's oceans has risen significantly in recent weeks but the upswing may be short-lived.The CEO told customers at an online presentation that the increase since the start of May was due to a combination of stocks being replenished in some sectors, unexpectedly high customer demand and shipping company customers bringing forward deliveries to be prepared for the upcoming peak season."People want to be on the safe side…

Maersk faces significant terminal congestion in Mediterranean and Asian ports, causing substantial delays in its vessel schedule, the Danish shipping group said in a statement on Monday.As a result of that congestion, the world's second-largest container shipping company, will skip two westbound sailings from China and South Korea that had been planned to depart in early July, it added.The notice from Maersk comes as global supply chains are suffering cascading delays and higher costs due to the Yemen's Houthi militant attacks on commercial vessels near the Suez Canal.

Maersk faces significant terminal congestion in Mediterranean and Asian ports, causing substantial delays in its vessel schedule, the Danish shipping group said in a statement on Monday.As a result of that congestion, the world's second-largest container shipping company, will skip two westbound sailings from China and South Korea that had been planned to depart in early July, it added.The notice from Maersk comes as global supply chains are suffering cascading delays and higher costs due to the Yemen's Houthi militant attacks on commercial vessels near the Suez Canal.

Spiking ocean shipping rates, vessel backups at seaports and empty container shortages - issues that wreaked havoc on global trade during the COVID pandemic supply-chain crisis - are back as the industry enters its busy season."There is a cocktail of uncertainty and disruption across global ocean freight supply chains," said Peter Sand, chief analyst at pricing platform Xeneta."It is the speed and magnitude of this recent (rate) spike that has taken the market by surprise," he said.On Friday…

Digitalizing processes makes shipping more flexible, efficient and eco-friendly. Artificial Intelligence (AI) is playing role of growing importance in these efforts. At the leading international maritime trade fair in Hamburg, the topic will be covered in depth at the AI CENTER, where innovative start-ups will showcase their solutions.Under the heading of “Driving the Maritime Transition”, SMM 2024 will not only focus on the maritime energy transition but also on digital transformation.