Topic
shipping line
Logistics Sinokor Offers Crews Six Months' Pay for Hormuz Round Trips After Tanker Attacks
After two product tankers were abandoned following projectile strikes in the Strait of Hormuz, South Korea's Sinokor Group offered crews six months' additional pay for a one-month round trip. War-risk premiums have climbed to 10% of vessel value, and commercial traffic through the chokepoint has slowed sharply.
Logistics China Merchants Energy Shipping orders 10 newbuildings across tanker, container, and bulk segments
China Merchants Energy Shipping (CMES) has approved the construction of 10 newbuildings across tanker, container, and bulk segments. The order includes five aframax tankers, four 1,800 teu container feeders, and one 210,000 dwt newcastlemax bulker. This is part of a broader fleet renewal programme that also includes earlier orders for VLCCs and methanol-ready boxships.
Logistics Netanyahu and Katz Urge ZIM Sale to Hapag-Lloyd and FIMI Be Scrapped Over Security Concerns
Israeli Prime Minister Benjamin Netanyahu and Defense Minister Israel Katz have publicly urged that the $4.2 billion sale of ZIM Integrated Shipping Services to Hapag-Lloyd and FIMI be scrapped, arguing the proposed structure fails to protect Israel’s security interests. The deal, signed earlier this year, would see Hapag-Lloyd acquire ZIM’s international operations while FIMI takes the Israeli-linked assets, but opposition has grown over ZIM’s strategic role during the recent war. If the sale falls through, Linerlytica projects that Ocean Network Express (ONE) would surpass Hapag-Lloyd in size by early 2028.
Logistics Evergreen Marine Raided by Taiwanese Prosecutors in Insider Trading Probe
Taiwanese prosecutors raided Evergreen Marine's premises and questioned nine suspects in an insider trading probe tied to a 2023 related-party transaction worth NT$13.35bn ($417m). Evergreen confirmed the search, is cooperating, and stated there is no significant impact on its financial condition or business operations. The investigation adds regulatory scrutiny to one of the world's largest container lines, which benefited heavily from the pandemic freight boom.
Logistics CMA CGM Acquires FedEx Supply Chain in $1.4 Billion Deal to Expand US Logistics
CMA CGM has agreed to acquire FedEx Supply Chain for $1.4 billion, folding it into its CEVA Logistics arm. The deal nearly triples CEVA's North American contract logistics footprint, adding 10,000 employees and 150 warehouses. CMA CGM will also become a preferred ocean carrier for FedEx under multi-year agreements covering ocean and air freight.
Logistics Outgoing ZIM CEO Glickman Passes Baton to Lichtenstein as Hapag-Lloyd Era Begins
Eki Glickman officially steps down as president and CEO of Zim Integrated Shipping Services on July 1, with Chen Lichtenstein taking over. Glickman resigned in April after a failed acquisition attempt, and Zim was acquired by Hapag-Lloyd in February for $4.2 billion. Glickman expressed confidence in Lichtenstein's leadership.
Logistics Hapag-Lloyd to Acquire 20% Stake in Eurogate Container Terminal Hamburg
Hapag-Lloyd, the world's fifth-largest container line, announced its subsidiary Hanseatic Global Terminals signed a term sheet to acquire a 20% stake in Eurogate Container Terminal Hamburg. The transaction is subject to binding agreements. This move continues the trend of carriers seeking vertical integration in the ocean supply chain.