China International Marine Containers (CIMC) sank to a loss in the first nine months of 2016 despite managing a profit during the third quarter, due mainly to provision made to a botched acquisition deal.
China ports giant Cosco Shipping Ports continues on its overseas expansion track with the purchase of a 40% stake in APM Terminals' Vado Holdings, which operates the Vado Reefer Terminal at Vado Port in Italy, for EUR53m ($58.3m).
Maersk Line has ordered 14,800 reefer containers in 2016 as part of an investment drive to replace older equipment and cater to future demand.
Crowley Accord Shipmanagement is aiming to add reefer vessels to its growing and diverse fleet, in line with owners looking to outsource technical management during the market downturn.
While the El Nino effect this year has had an impact on global reefer trade flows, it has not been completely negative. Shortage of supply of bananas from the Philippines for example has led to Asian importers sourcing from Latin America instead, according to APL head of special cargo Ng Kar Loke.
Hapag-Lloyd has ordered 6,000 reefer containers with a total capacity of 12,000 teu as it eyes opportunities in the South American trades.
China’s ICBC Leasing has entered into financing deals worth a total of $1.1bn with France’s Jaccar Holdings and Belgian reefer firm Seatrade for the construction of 10 ships.
United Arab Shipping Company (UASC) has launched a new transatlantic route with a North Europe-US East Coast (NEU1) service, and ordered 3,500 reefer containers.
Container shipping line United Arab Shipping Company (UASC) has ordered 2,000 new energy efficient reefer containers from Japan’s Daikin as part of the company’s expansion of its reefer services.
United Arab Shipping Corp (UASC) is expanding reefer with new investments and access to the South American trades through cooperation with Hamburg Süd.