The container shipping consolidation claimed another mid-size player and, if approved, will catapult the buyer into the small group of the largest container lines in the world. While the gossip of OOCL being on the market has been around the industry for a good 12 months, the price paid by the buyer was a sheer surprise. Even with the rates inching up, it takes a lot of guts to offer 38% premium over OOIL’s closing price for a mere 3.2% of global market share, of which about 30% is already overlapping existing Cosco services. Could unnamed “other” assets of OOIL add up to the deal price?
Weeks after the global "Petya" malware attack took down multiple computer systems at Maersk Line, the leading container carrier is still working to bring its operations back to normal. In a statement Friday, Maersk gave an update on its "road to full recovery," and it recognized the reputational effects of the attack. "You may still encounter delays in response time and feel reluctant to return your full booking volumes with us," Maersk wrote. "Rest assured that no one feels more committed to alleviate your concerns, and we are diligently working through backlogs and manual processes to be able to serve you effectively again."
A fire broke out on an offshore substation platform at the SPIC Binhai North windfarm near Yancheng, Jiangsu on Saturday. According to Huadian Heavy Industries, the construction contractor of the windfarm, 19 workers onboard the platform jumped into the ocean after they failed to contain the fire during a thunderstorm at the time the incident occurred. The local maritime safety authority started rescue operations immediately and managed to rescue 18 workers and put out the fire, but one worker remains missing. The SPIC Binhai North windfarm is being developed by China’s State Power Investment Corporation.
The dismantling and recycling of the Costa Concordia has been completed in Genoa. The 290-meter (950-foot), 13-deck Costa Concordia ran aground in the waters off Giglio Island, Italy, in January 2012. The wreck arrived in Genoa on July 27, 2014, and approximately one million hours of work has gone into her recycling. About 90 percent of the ship was able to be used, and it was a huge undertaking from recovery to recycling.
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