• 2019 February 19 17:26

    Moody´s upgrades Hapag-Lloyd credit rating to B1

    Rating agency Moody’s has upgraded Hapag-Lloyd’s corporate family rating (CFR) to B1 from B2 and its senior unsecured bond rating to B3 from Caa1. The outlook remains stable. The improved rating acknowledges Hapag-Lloyd’s progress in integrating United Arab Shipping Company Limited (UASC) while reducing leverage and generating positive free cash flow on the back of tight cost management and increased efficiencies, Moody’s concluded in its press release published today.

    The rating upgrade reflects Hapag-Lloyd´s ability to achieve the level of expected synergies resulting from the UASC integration which helped to partially offset cost increases on the back of higher fuel costs. Hapag-Lloyd has substantially reduced leverage since the merger with UASC and is expected to continue its deleveraging path. Moody’s also factors in an adequate liquidity as well as a positive free cash flow generation since 2017 and Hapag-Lloyd’s capabilities to remain cash generative going forward, which will help to further reduce debt. Furthermore, Hapag-Lloyd’s modern and efficient fleet has allowed to reduce operating expenses per TEU despite increasing fuel costs. The stable outlook reflects Moody’s expectations of steady performance as a result of Hapag-Lloyd’s strong market position despite possible cost increases combined with a volatile freight rate environment.

     




2020 February 16

16:15 Two new oceanographic vessels will join the NOAA fleet
15:13 TenneT develops first 2GW offshore grid connection with suppliers
14:52 USCG issues Captain of the Port Orders to Bouchard Transportation Vessels
13:12 Siemens builds Germany’s largest “power outlet” for ships for Port of Kiel
12:34 Naval Group presents its industrial and academic cooperation plan with Greece
11:16 MARAD announces more than $280 million in grants for US coastal seaports

2020 February 15

14:51 Holland Shipyards holds keel-laying ceremony for new electrict ferry
13:27 USCG takes delivery of Cutter Edgar Culbertson
12:43 Virgin Voyages celebrates delivery of Scarlet Lady
11:15 European Commission working visit in the context of Military Mobility

2020 February 14

18:37 OOCL updates Trans-Pacific services
18:07 Canada plans to support ban on heavy fuel oil in Arctic shipping
17:49 Rates of transport security dues approved for Rosmorport’s Azov-Black Sea Basin
17:26 Reconstruction of the historic FG levee completed at the Port of Riga
17:05 Vado Gateway terminal commences operations
16:51 Commissioning ceremony of Offshore Patrol Vessel PNS YARMOOK
16:35 PIL to exit Transpacific market to focus on North-South trade
16:08 Keel of Wasaline’s new ferry was laid at Rauma shipyard
15:44 Rauma Marine Constructions to partner with Aalto University looking to cut emissions and increase safety in seafaring
15:19 Nauticor, Fassmer start LNG cooperation with Atair bunkering
14:21 Global Ports launches Ust-Luga – Moscow rail container service
13:57 Zvezda shipyard starts building yet another Aframax tanker for Rosnefteflot
13:35 Port of Ipswich celebrates tonnage-handling record for largest independent producer of sand and gravel in the UK
13:12 Finnlines invests in highest passenger comfort and orders two eco-friendly Superstar vessels
12:50 Finnlines strengthens its North Sea services as from week 8, 2020
12:26 Supervisory board of KN approves company's corporate strategy until 2030
12:03 Hapag-Lloyd announces rates from Mediterranean to Far East
11:48 Throughput of Klaipėda Port in Jan'20 exceeds that of Latvia’s ports for the first time in the history
11:30 CMA CGM announces FAK rates for reefers from North Europe, Baltic, Scandinavia, Poland & West Med to Asia
11:09 Fincantieri presents “Scarlet Lady” in Genoa Sestri Ponente
10:54 Klaipėda Port’s canal to be deepened to 15 meters
10:30 CMA CGM announces FAK rates for reefers from East Med & Black Sea to Asia
10:27 MABUX: Bunker market this morning, Feb 14
10:09 PCC Intermodal marks 10 years of work in the Port of Hamburg
09:55 Brent Crude futures price is down 0.05% to $56.31, Light Sweet Crude – up 0.06% to $51.45
09:41 Bunker prices are slightly down at the port of Saint-Petersburg, Russia
09:18 Baltic Dry Index is flat at 421 points
09:00 Port of Long Beach сargo volume down 4.6% to 626,829 TEU in January 2020

2020 February 13

18:30 Korean Register launches new apps and online service for customers
18:06 PSA Marine announces acquisition of Tramarsa Flota
17:52 Vice Admiral Kulakov, RF Navy’s large anti-submarine ship, returns to Severomorsk
17:35 Hapag-Lloyd announces rates from Middle East to North Europe and Mediterranean
17:19 Port of Ventspils (Latvia) handled 20.46 million tonnes in January 2020, up 0.8% YoY
17:05 APM Terminals Poti formally restarts port expansion permit process
16:58 MSC confirms long-standing commitment to reducing CO2 emissions
16:55 Scorpio Bulkers announces sale and leaseback agreements for three dry bulk vessels
16:43 MSC announces cooperation agreement with SM Line
16:40 DP World agrees to acquire a majority stake in TIS container terminal in the Port of Yuzhny, Ukraine
16:37 European Union prepares to provide a subsidy for a project to store CO₂ from industry in Antwerp, Ghent, Zeeland and Rotterdam
16:20 Port of Klaipeda (Lithuania) handled 3.4 million tonnes of cargo in January 2020, down 15% Y-o-Y
16:05 Floatel and Prosafe discontinue merger agreement
15:36 Damen to supply five coastal ferries to Zanzibar Government
15:31 IDF provides Vyborg Shipyard with RUB 700 million loan for construction of trawlers and crab catchers
15:17 Port of Rotterdam throughput amounted to 469.4 million tonnes in 2019
15:08 HHLA container throughput up 3.3 percent to 7.6 million TEU
14:37 Port of Helsinki throughput in January 2019 grew by 8.8% to 1.2 million tonnes (table)
14:03 Tolbukhin tugboat joins fleet of Rosmorport’s North-Western Basin Branch
13:42 Cruise Baltic becomes the first paper-free cruise network
13:26 North-Western Basin Branch of Rosmorport expands its fleet with Taifun-1000K airboat
12:44 Bunker market sees mixed price movements at the Far East ports of Russia (graph)