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According to Reuters, French container shipping company CMA CGM plans to continue looking for acquisition opportunities after its merger with German Hapag-Lloyd fell through.
CEO Radolph Saade stated that the company was interested in Hapag-Lloyd, but will no longer pursue it. He didn't name potential future acquisitions.
There was always a concern whether the authorities would have allowed two giant companies to merge due to fair competition rules.
CMA CGM recently bought Brazil’s container shipper Mercosul Line from Maersk Line.
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Japanese shipper Mitsui O.S.K. Lines (MOL) has signed a technology consulting agreement with Professor Tomoharu Naga of the Yokohama National University Graduate School of Environment and Information Sciences.
MOL has been working with Professor Nagao on the analysis and implementation of big data in the ocean shipping sector. MOL sees information and communications technology (ICT) as a priority in its aim to become a “corporate group of competitive No.1 businesses.”
Tomoharu Nagao has pioneered numerous advanced calculation models in the field of machine learning. Advanced machine learning is considered the next step in the artificial intelligence (AI) development, leading to autonomous solution of problems.
Dear AuctionExport Dealers,
Our office will be closed on Monday September 3rd to celebrate Labor Day. Regular working hours will resume on Tuesday, September 4th.
We wish you happy holidays!
Venta Maersk Starts Historic Arctic Voyage
Danish shipping major has dared to go places where others haven’t, which is definitely the case with its latest test run through the Northern Sea Route.
Despite that the trip is of exploratory nature, if a company like Maersk is exploring the commercial route viability and this could indicate a pick up in the route’s attractiveness for container shipping
Arctic waters have so far been used mostly by tankers and, most recently, by passenger ships.
Considering that container shipping is currently looking into the ways of boosting profitability and cutting costs especially for fuel, the lane would be very attractive as it shortens the duration of the trip by around 24 percent from Northeast Europe to Asia compared to the Suez Canal.
Consequently, container shipping companies would be able to save money and time.
Venta Maersk departed Vladivostok earlier today heading for the Northern Sea Route. Maersk said earlier that the ship’s trip would last for over a month. The ship is expected to pass the Bering Strait on or around September 1, 2018 and its planned arrival in Saint Petersburg is set for the end September.
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