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NYK - the argument now is over what a normal year looks like

NYK has raised its dividend to ¥330 a share on a year swollen by the closure of the Strait of Hormuz and strong container rates, but its own guidance has second-half profit falling by more than 40%. Morgan Stanley values the company on a normal year worth less than half of this one and sees a risk the dividend is cut in the year to March 2028; JP Morgan's valuation sits close to the share price, and NYK's own ...

HMM Platinum general average adds to cargo woes, as search for refuge drags on

HMM has declared general average following the fire aboard the HMM Platinum, generating a slew of new hurdles for cargo owners, with the carrier still seeking a port of refuge for the vessel, which has spent the past month anchored off the South African coast. Korhi Average Adjusters & Surveyors have been appointed to handle the adjustment for the 5,593 teu containership, with Korhi and Richards Hogg Lindley responsible for collecting general average security. Those with cargo aboard will be required to provide salvage security and general average security before shipments can be forwarded or released, while uninsured cargo owners will be required to provide cash deposits, although the amounts have yet to be determined. Given the extent of cargo damage and timetable for discharging containers remains unclear, the requirements add more uncertainty for forwarders and their customers with shipments aboard the vessel. Fire broke out aboard the Liberian-flagged vessel on 6 October, while sailing from Kattupalli to Santos, with reports claiming that the blaze originated in a container while the ship was off Madagascar's southern coast, with some 2,300 boxes aboard. Salvage specialist SMIT was appointed under a Lloyd's Open Form agreement, while the vessel diverted towards South Africa but finding a suitable port of refuge has proved complicated. Ngqura has been identified as a possible destination, with Transnet National Ports Authority reportedly considering a request for the vessel to enter, but AIS data from Wingo Marine on 9 November placed the ship at anchor around 29km north-east of Durban.

Geodis - the last chunky logistics target

The amount of speculation surrounding MSC, Mærsk and CMA CGM and their plans to invest hard-earned war dollars has been unprecedented in recent months - there's more cash to count in the till than time to spend it over the next few years. Rings a bell, doesn't it? Several Premium sources have talked about the need for, or the eagerness of, all three box lines, not only to deploy capital in new tonnage - as they are duly doing, in a ...