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Updates in Ocean Shipping from 6-8-18 to 12-8-18. ZIM Has Put Forward the Details of Its New Asia-US East Coast Network ZIM has publicly announced the details of its improved Asia-US East Coast (USEC) network, which has been started after the company teamed up with the 2M alliance. Nissim Yochai, the ZIM Transpacific Trade EVP, has commented that this new development will allow ZIM’s clients to make good use of both ZIM’s personalized service along with its top-notch infrastructure. The newly introduced network has taken five services under its wing, which is supervised by the ZIM+2M alliance. The five services are named as the ZIM Container Service Pacific (ZCP), the ZIM Big Apple (ZBA), the ZIM Seven Stars (Z7S), the ZIM Sunny Atlantic Express (ZSA), and the ZIM New Frontier (ZNF). It has been decided that the new schedules for the services will commence when the Columbine Maersk vessel (8,648 teu) will set sail from Chiwan in September. The vessel belongs to the ZIM Seven Stars service. in another announcement, it has been declared that four out of five loops will be controlled by 2M while ZIM manages the remaining one. Read More Hapag-Llyod Carries Out a Huge Fleet-Wide Review Undoubtedly, Hapag-Llyod is the best boxline shipping company in Germany and has its headquarters in Hamburg. Recently, the company has been facing a lot of pressure and has been compelled to critically review the economic viability of its various shipping systems. It is conducting a large-scale fleet-wide review to cut down on the liner prices all over the world. Rolf Habben Jansen, the CEO of Hapag-Llyod, has reported a total loss of EUR100.9m, which is an even worse outcome than the EUR42.7m loss of the company in the previous year. Unfortunately, this negative development has been the consequence of higher operational costs and the cut-throat competition that is prevalent in the industry. However, Hapag-Llyod has admitted in a press release that a little of the disaster has been compensated by the incoming synergies from its business tie-up with the United Arab Shipping Company Ltd. (UASC). Habben Jansen has strongly promised that the company will soon rise from its current bad situation and will handle the unpredictable losses with additional measures. Early 2018 has been really unfortunate for the boxline company due to the increase in fuel prices, slow recovery of freight rates and higher charter rates. Read More APM Terminals Pipapav Has Announced the Standalone Financial Results for Q1FY18 The APM Terminals Pipapav or the Gujarat Pipapav Port Ltd. has declared its standalone financial performance for the first quarter of the FY18 that ended on 30 th June. As per the statistical reports provided by the Port organization, the company has made a net profit of INR 471 million for Q1FY19 whereas it has brilliantly achieved a net profit of INR 557 million in Q1FY18. The Port has consistently performed well and the Container Cargo business was reported to be 195k TEUs in the first quarter. On the other hand, the Liquid business was calculated to be 160k MT and the Bulk business was at 619k MT. Moreover, the RoRo business flourished by handling an approximate of 16k cars for the reviewed quarter. Read More DG Shipping Probes into a Collision Incident of an Indian Fishing Boat and an Unknown Merchant Vessel On 7 th August, an unfortunate disaster occurred near the Kerala coast that involved the collision of an Indian fishing boat (called OCEANIC) with that of a nameless merchant vessel. According to the latest information obtained by the media, there were 14 Indian fishermen on board. Out of the total number of crew, 3 are dead, 2 are severely injured while 9 are still missing. The Directorate-General of Shipping, working under the Ministry of Shipping in India, has responded in a serious manner and is now conducting an inquiry into the tragedy. As a prompt action, a well-equipped rescue mission is being carried out with the help of 3 aircraft and 3 ships by the Indian Navy and the Coast Guard. On top of that, many fishing boats have also volunteered to help in the search operations. Read More Maersk and IBM Plan to Apply Blockchain Technology to the World’s Supply Chain Two global organizations like Maersk and IBM have teamed up to introduce the innovative blockchain-enabled shipping solution in the world’s supply chain. This technology will be implemented after the testing and acquiring the active participation of the logistics industry and the broad shipping industry turns out to be a success. This collaboration and participation will be demonstrated in the newly launched TradeLens system, which has been approved by 94 organizations that are willing to offer their cooperation. According to the initial planning, there are supposed to be 234 marine gateways located all over the world as a part of the open-standards-based TradeLens network. Incidentally, this will experience a massive participation from more than 20 port and terminal operators on a global scale. Read More Want to know more news Around the World ? Stay tuned every Monday to ODeX and get the latest in shipping.