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...The vessel is operated by Geneva-based Mediterranean Shipping Company, the world’s biggest container shipping line....
...This has meant shipping lines have had to add port calls in some areas to drop off and pick up containers going to and from areas that are no longer on their direct route....
...ONE was formed in 2018 through the merger of the container businesses of Japan’s NYK Line, K Line and Mol. Container ships mostly carry manufactured goods in steel boxes....
...Belgian insurer Ageas has made a higher preliminary bid for UK motor underwriter Direct Line, which values the group at 237p a share....
...But Direct Line shareholders would still be taking half the £3.1bn value in Ageas equity....
...Direct Line is due to publish its 2023 results at the end of next month....
...Direct Line’s shares were 1 per cent higher in early trading....
...Presenting his first set of full-year results on Thursday, just weeks after he joined the group, Adam Winslow said Direct Line had a “strong platform for recovery”....
...Direct Line shares jumped 20 per cent to 197.5p on the news....
...Meanwhile, Germany’s Hapag-Lloyd, the world’s fifth-largest container line by capacity, indicated that it intended to continue diverting its ships away from the Red Sea towards the Cape....
...Belgian insurer Ageas has cancelled a takeover attempt for UK rival Direct Line saying it “regrets that it has not been able to work collaboratively” with the target’s board....
...“Some of the competitors in [the] Greater Bay Area continue to receive government incentives, hence able to offer attractive lower price option[s] to shipping lines,” the company added....
...Longer supply lines tie up more vessels, boost freight rates, widen origin-destination spreads, and lift bunker demand....
...Container lines, which handle movements of manufactured goods and components, mostly offer one service a week on their most popular routes....
...Atlantic Container Line, which operates roll-on-roll-off ships that carry finished vehicles, predicted that big car importers would have “a lot of trouble” finding spaces elsewhere on the eastern seaboard...
...After more than four decades of hostility between the arch foes, Israel was for the first time under a direct attack from Iran....
...Logistics companies have looked anew at routes through Russia following the decision of most large container shipping lines to divert Asia to Europe sailings that would normally go through the Suez Canal...
...Attacks by Iranian-backed Houthi rebels on container ships navigating the Red Sea stopped the westward flow of presents this Christmas....
...Hapag-Lloyd, the fifth-biggest container line, said speeds had generally increased and that it was accelerating ships when necessary to overcome congestion delays....
...Few if any bridges could have survived such a direct assault. However, this was not a risk that sprang up overnight. The bridge and port have coexisted for almost 50 years....
...All are in the area currently unserved by most large container lines....
...Container shipping alliances offer customers a wider range of destinations and services because lines share space on each other’s ships....
...The Norwegian company is the biggest participant in a corner of the shipping industry facing different dynamics from container lines, which are saddled with excess capacity....
...Vincent Clerc, chief executive of the world’s second-largest container line, said that large amounts of new ships due for delivery this year and next would saddle the sector with an excess capacity, hitting...
...Nine of the 26 attacks on vessels since November 19 have targeted the biggest, highest-profile container ships owned by the world’s three biggest lines, Maersk, MSC, and CMA CGM....
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