Higher Profits For Maersk 

Danish shipping giant Maersk Line reported a net profit of USD 584 million in 2017, a big turnaround compared to last year's USD 376 million net loss.

The company was able to withstand challenges such as a cyber-attack and bunker price increases. Their volumes grew by 3% and their revenue rose to USD 23.8 billion, in large part due to an 11.7% increase in the average freight revenue thanks to a strong global container demand.  

Maersk acquired Hamburg Süd of Germany and sold Mercosul Line of Brazil, both container shipping lines, in December 2017.

The Maersk fleet consists of 287 owned vessels and 389 chartered vessels with a total capacity of 3,5 million TEU, which is an increase of 10% over the year 2016. 

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Delivery of Pan Americas

Pan Americas,​ ​a​ ​liquefied natural gas (LNG) carrier constructed for the Queensland Curtis LNG Project, was delivered to its owners. ​

Jointly owned by Teekay LNG Partners, China LNG Shipping International, and CNOOC Limited, it was constructed by the Chinese Hudong-Zhonghua Shipbuilding. The 174,000 cbm vessel is set to start a long-term charter contract with oil giant Shell.

With a DWT of 98,500 and a length of 290 meters, the ship was completed on January 12. It is one of four LNG carriers which will be built for  the Queensland Curtis LNG Project.

VesselsValue has estimated Pan Americas' market value at around USD 180 million.

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Revenue Rise for OOCL

Orient Overseas Container Line (OOCL) of Hong Kong has reported a decrease in shipping volumes and an increase in revenue for Q4 of 2017. 

The company's volumes stood at 1,612,733 TEUs, down by 3.3% when compared to this period in 2016. The biggest factor in the decrease were the Intra-Asia / Australasia volumes, which fell by 14.2% to 736,857 TEUs. 

OOCL’s total revenue for the quarter rose by 6% to USD 1.38 billion, mainly due to a 24.3% revenue increase on the Asia / Europe trade. The average revenue per TEU jumped by 9.6 percent.

Looking at the year 2017 as a whole, total volumes increased by 3.6% over the previous year. Total revenues grew 15.4% to USD 5.42 billion.