Topic “shipping lines” — Exporter Magazine

Lack of funding, oversupply and poor freight rates are going make 2012 a “crisis” year for the shipping industry, says Andrew Broomhead, CFO of Hong Kong’s largest operator of dry-bulk vessels Pacific Basin, according to CNBC. The International Container Lines Committee, which represents New Zealand’s shipping container sector, is concerned about the prospect of further strike action at Ports of Auckland, according to Scoop.co.nz Daily Maersk, Maersk Line’s new service on the Asia-North Europe trade lane, is expected to dramatically change the way shipping is done – it offers a daily cut-off at the same time every day, seven days a week, and always with the exact same transportation time, according to Transport Weekly. A.P. Moller-Maersk issued the strongest sign yet of a turnaround in the shipping industry on Wednesday, forecasting it expects to turn a record profit of around USD$5 billion (NZD$6.4 billion) this year on surging ocean container volume and freight rates, according to the Journal of Commerce.