Seatrade Maritime News

1 day ago | seatrade-maritime.com | Nick Savvides

Fluctuating fortunes on the Pacific trades have taken an emphatic, but no means decisive, turn south as demand crumbles, while the prospect of yet more tonnage to be delivered will add a timely reminder of the economics involved. Drewry’s weekly World Container Index report said that rates on the China to Los Angeles services had fallen by more than $800 per feu for the third week running.

2 days ago | seatrade-maritime.com | Nick Savvides |Marcus Hand

It is understood that the Wan Hai 503 is now under tow and heading out from India’s Exclusive Economic Zone (EEZ). The preferred option is to sail to the southern Sri Lankan port of Hambantota, which is operated by China MerchantsHowever, docking in Hambantota will require approval from the Sri Lankan authorities and other options in Southeast Asia are understood to still be under consideration.

4 days ago | seatrade-maritime.com | Nick Savvides

Hong Kong newspaper the South China Morning Post reports the $23 billion deal for MSC and BlackRock to acquire the Hutchison Ports international business, excluding terminals in China, could be on the rocks unless major changes are made. According to the SCMP substantial changes are necessary to the current structure of the deal with both Panamanian and Chinese competition authorities unhappy with its current composition.

4 days ago | seatrade-maritime.com | Nick Savvides

The deadline for exclusive negotiations between CK Hutchison and a consortium of MSC subsidiary Terminal investment Limited (TiL) and Blackrock ends on Friday with warnings the deal could collapse. Hong Kong newspaper the South China Morning Post reports the $23 billion deal for MSC and BlackRock to acquire the Hutchison Ports international business, excluding terminals in China, could be on the rocks unless major changes are made.

4 days ago | seatrade-maritime.com | Marcus Hand

In a statement from Sola announcing his departure from the FMC he said that 30 June this year would mark the end of his tenure with the commission. Sola was appointed as chair of the FMC by US President Donald Trump shortly after he took office on 20 January. There was no word on who would succeed Sola as head of the commission which regulates liner shipping and the supply chain in the US. Sola joined the FMC in 2018 during Trump’s first Presidency with a term that expired on 30 June 2023.