French shipping major CMA CGM is launching a USD 1.2 billion cost reduction plan despite record revenues seen in 2018. As informed, the company will implement “a global plan” in 2019 to improve its operational performance. CMA CGM intends to achieve this objective through the optimization of lines and brands, and by further streamlining its processes. “In 2019, despite persisting geopolitical tensions, trade perspectives are positive. We will continue our development with the

The ULCV Mumbai Maersk has broken the 19,000 TEU load mark, setting a new world record at 19,038 TEU. She achieved the new milestone at Tanjung Pelepas, Malaysia, then got under way for Europe. She is expected in Rotterdam on September 5. The 2018-built Mumbai Maersk is the firm's latest Triple-E class vessel, and has a nameplate capacity of 20,600 TEU. UASC (now part of Hapag-Lloyd) set a previous record in 2015 when its ULCV Al Muraykh loaded 18,601 containers. Maersk Line'

The Port of Los Angeles’ container volumes climbed by 9.5 percent during the first seven months of the calendar year 2017, compared to the same period a year earlier. Through July, total 2017 cargo volumes stood at 5.3 million TEUs, a change of 457,884 TEUs when compared to 4.8 million TEUs recorded in the seven-month period of 2016. Last year, the port handled a record-breaking 8.8 million TEUs. What is more, July container volumes at the port rose by 16 percent compared to

Hanjin Group Chairman Cho Yang-ho, the largest stakeholder of the group’s cash-strapped Hanjin Shipping, said Tuesday the recent shipping fiasco sparked by court receivership of the shipping line was “unavoidable.” “It was an unavoidable situation derived from the aggressive supply of government-backed foreign shipping lines and their low price strategies,” Cho said in a parliamentary audit for the state-run Korea Development Bank. KDB is the main creditor of Hanjin Shipping.

The first of ten ship-to-shore (STS) cranes at the APM Terminals Los Angeles Pier 400 facility was raised 33 feet, making it the tallest port crane in North America, ahead of regular Ultra-Large Container Vessel (ULCV) calls in the trans-Pacific trade lanes, according to the terminal operator. APM Terminal said that the crane, which will use 60% less energy than conventional lighting systems, is expected to be ready for vessel operations in the next few months. The crane heig