Freight Shipping News



Fire fighting, salvage operations, continue on the abandoned container ship mid-Atlantic after last week's cargo explosion

Three tugboats with fire-fighting ability are on the scene. After the arrival of the second firefighting tugboat, Anglian Sovereign, a party of four salvage specialists boarded MSC Flaminia , and were able to reactivate the ship's own firefighting system, which is now operating in support of the fire-fighting tugs' efforts.

Due to damaged cargo and extinguishing water the ship is listing by 8.5 degrees. The extent of the damage onboard MSC Flaminia is considerable. Cargo holds 4, where the fire originated from, as well as holds 5 and 6 are demolished. According to salvage specialists cargo hold 7, which is located adjacent to the superstructure, is not on fire.

K&N says antitrust fines hit margins

Swiss logistics provider Kuehne+Nagel (K+N) endured a drop in profit over the first six months of this year despite an overall growth in volume and turnover. The company's results were impacted by an EU commission antitrust fine of Sfr48 million in Europe and a Sfr17 million fine in Asia-Pacific. However overall net earnings after the deduction of antitrust fines were still Sfr214 million (about £140m).

Maersk Lines skips Asia -Europe sailings

Maersk Line has removed some capacity from the Asia-Europe trades over the past month as it joins others in preparing for more rate increases at the beginning of August.

The Danish carrier is one of a number of leading operators to have either cancelled some sailings or deployed smaller ships at a time of year when volumes would normally be very strong. But despite a disappointing peak season so far, some lines are telling their customers to expect further rate hikes in September and October as the industry strives to return the Asia-Europe trades to profit.