The German ocean carrier upped the size of a five-year bond from 150 million euros to 250 million euros.
COSCO may make a bid of more than $4 billion for Hong Kong-based Orient Overseas Container Line, according to various media reports.
The deployment of ultra-large containerships has not only increased average vessel size on key east west trades, but has accelerated the consolidation of carriers into vessel sharing agreements and alliances.
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The recent announcement on Japan’s three major ocean carriers - MOL, NYK Line and “K” Line - merging container operations has left the industry wondering if more consolidation is to come.
Members of the planned ocean carrier alliance – Hapag-Lloyd, Yang Ming, NYK, MOL and “K” Line – said they plan to offer 31 services, utilizing 240 vessels to call over 75 ports.
Meanwhile, a judge in STX Offshore’s Korean bankruptcy proceedings has ordered the troubled shipbuilder to put its shipyard up for sale along with its profitable cruise ship subsidiary based in France, according to multiple media reports.