.png)
HMM Pulls Out from Transatlantic
South Korean shipping company Hyundai Merchant Marine (HMM) is ending its two Transatlantic loops to concentrate on its core trades.
“HMM will no longer serve the Transatlatic trade until further notice,” HMM informed in a customer advisory.
The company said that the two loops linking North Europe to the United States were being terminated as a response to the ongoing market conditions.
The TA2 and TA3 loops were introduced via HMM’s cooperation agreement with 2M Alliance comprising Maersk Line and MSC.
The trio signed the cooperation agreement in March 2017, officially launching their strategic cooperation on East-West trades.
This strategic cooperation has a length of three years with an extension option and includes a series of slot exchanges and slot purchases on East-West routes.
HMM added that it plans to accept bookings for Transatlantic until July 31.
Specifically, on the westbound loop the final voyages on TA2 and T3 are scheduled for 25 and 24 of June, 2018 respectively. While on the eastbound route the final voyages on TA2 and T3 are set for 13 and 31 of July respectively.
Zim widens quarterly loss to US$34.1 million despite 14.7pc more sales
ISRAELI flag carrier ZIM widened its quarterly net loss to US$34.1 million from last year's shortfall of $6.4 million, despite a 14.7 per cent year-on-year increase in revenue to $751.4 million and 16.7 per cent more volume to 698,000 TEU.
Zim's average freight rate per TEU during the quarter slipped 1.6 per cent year on year to $938.
Said CEO Eli Glickman: "While we started to see an improvement in some of the trade towards the end of the quarter, Q1 2018 results, on the whole, were negatively impacted by the combined effect of increased bunker prices, higher charter costs and lower freight rates."
Looking ahead, Mr Glickman said that Zim keeps investing in digital solutions to enhance efficiency and customer experience and remains focused on achieving its goals as an independent carrier.
Zim operates 85 vessels with 4,200 staff ashore and afloat. Financial institutions and shipowners own 68 per cent of its shares with Kenon Ltd owning the 32 per cent.
CMA CGM Welcomes Second 20,000+ TEU Boxship
French container shipping company CMA CGM has added to its fleet a second 20,600 TEU containership.
The delivery and naming ceremony for CMA CGM Jean Mermoz was held at Subic Bay Philippines yard on May 25.
Featuring a length of 400 meters and a width of 59 meters, the ultra large container vessel (ULCV) flies the flag of Malta.
CMA CGM Jean Mermoz is the company’s second of three identical giant ships ordered at Hanjin Subic. The first ship from the batch, CMA CGM Antoine de Saint Exupery, was delivered to its owner earlier this year and the third vessel is expected to be delivered in September 2018, the shipbuilder said.
According to data provided by VesselsValue, CMA CGM Jean Mermoz currently has a market value of USD 138.23 million.
The newbuild will be deployed in French Asia Line 1 which connects Asia to Northern Europe.
Diana Containerships Extends Charter Deal with OOCL
Greek boxship owner Diana Containerships has agreed to extend the present time charter contract with Hong Kong’s Orient Overseas Container Line (OOCL) for one of its Post-Panamax vessels.
Under the agreement, the company’s 2006-built Pucon will continue working for OOCL at a gross charter rate of USD 18,000 per day.
The charter extension, scheduled to commence on June 22, 2018, was agreed for a period of eight to twelve months.
The 6,541 TEU container vessel is currently chartered at a gross charter rate of USD 10,750 per day.
Diana Containerships informed that the employment extension is expected to generate USD 4.32 million of gross revenue for the minimum scheduled period of the time charter extension.
Maersk Honam Completes Cargo Discharging at Jebel Ali
Cargo discharge operations on Maersk Line’s fire-stricken containership Maersk Honam were completed and first containers have been released for onward transport.
The ultra large boxship, which was hit by a serious fire on March 6, berthed at Jebel Ali port on Sunday, 27 May, after spending over two months at sea.
“Containers which have been declared sound and for which all General Average and Salvage securities have been submitted are being released now and will be loaded on other vessels for transport to their final destination,” the Danish shipping major said in a statement.
The company added that the condition of the vessel will be further evaluated after berthing, confirming its earlier announced plans to repair the Maersk Honam.
A full investigation in collaboration with relevant authorities is ongoing to determine the cause of the fire.
Maersk Honam was hit by a serious fire while sailing around 900 nautical miles southeast of Salalah, Oman. The fire claimed the lives of a total of five crew members.
Source: World Maritime News
