Maersk Line, the container-ship division of Denmark's A.P. Moller-Maersk A/S , plans to raise its Latin American cargo rates by as much as 30 percent this year to stanch losses and pay for 16 ships being built for the region, the company said. The decision to raise Latin American rates comes as Maersk, the world's largest container shipping company and a barometer for world trade, struggles to recover from a world economic downturn. uk.reuters.com/ar...

Daewoo Shipbuilding and Marine Engineering has begun constructing the world's biggest container vessel after receiving the order from Denmark's AP Moller-Maersk, the shipbuilder said on Saturday. When completed, the 18,000 TEU container ship will measure 400 m in length and 59 m in width, with a deck wide enough to accommodate four football fields. It is the first of 20 container ships DSME is building for the Danish company based on orders from February last year. The shipbuilder said it plans to hand it over in the second half of 2013. Denmark's Crown Prince Frederik and his wife Mary, who are in Korea visiting the 2012 Yeosu Expo that opened on Saturday, attended a ceremony marking the start of the vessel's construction on the same day at DSME's Okpo shipyard in South Gyeongsang Province.

The first piece of steel was cut at Meyer Werft in Papenburg, Germany on May 10th 2012, for the construction of Norwegian Getaway, the second of two new Freestyle Cruising ships for Norwegian Cruise Line, set for delivery in spring 2014. Norwegian Cruise Line and Meyer Werft executives watched as the first plate of steel was cut by a plasma torch in the yard's state of the art facility. The steel cutting followed hard on the heels of a keel laying ceremony at the shipyard for the first ship of the new class, Norwegian Breakaway, During the official ceremony, the first of 73 blocks that will comprise the 144,000 gross ton, 4,000 passenger, vessel was lifted into the covered building dock, marking the start of the block assembly. In the dock, Kevin Sheehan, Norwegian Cruise Line's chief executive officer, laid the traditional "lucky coin," before the 350-ton first block was placed by the 800-ton crane. A special commemorative coin was created to celebrate the day's activities.

South Korea's Hyundai Heavy Industries said on Thursday that it had won a $655 million deal to build a drillship for U.S.-based Diamond Offshore Drilling. The shipbuilder said in a statement that the vessel was scheduled to be delivered by the fourth quarter of 2014.

As Seatrade Insider reports, AIDA Cruises appointed former environment minister of Lower Saxony and Greenpeace Germany co-founder Monika Griefahn as its chief sustainability officer. Her official title is director for environment and social responsibility. Cruise ships ‘provide the platform for innovation as well as the chance to show what opportunities business has to be a leader in the field of environment and society,’ Griefahn said, adding that AIDA has already shown it wants to take responsibility for helping shape the future. AIDA president-designate Michael Ungerer said the appointment will add impetus to the cruise line’s sustainability strategy and its effort to make its business as environmentally friendly as possible. www.seatrade-insi...

Mitsui OSK Lines president Koichi Muto on April 30, 2012 warned that the Japanese carrier was facing the largest loss in its history. At the shipping line’s 128th birthday celebration, he also forecast that 2012 could be just as challenging. Muto said that for fiscal 2011, which ended on March 31, the carrier is forecasting a loss of around 27 billion yen ($325.5 million). He said it eclipsed MOL’s previous record loss in 1993 of 5.7 billion yen ($68.7 million). thebulletinpanama...

Hapag-Lloyd has announced that it will increase rates for all cargoes shipped within East Asia (except from/to Japan), by USD 50 per TEU, affective from June 1, 2012 East Asia is defined as being the countries of Korea, Taiwan, Hong Kong, China (PRC), Vietnam, Laos, Cambodia, Thailand, Myanmar, Malaysia, Singapore, Brunei, Indonesia, the Philippines and Russian Pacific Coast Provinces. The Merchant is responsible for all necessary clearances and licenses (as per Clause 12 Hapag-Lloyd Bill of Lading/Sea Waybill Terms and Conditions).

Carnival Corp named a new head of its Costa group. The company said Pier Luigi Foschi will retire as Costa group's chief executive effective July 1 as part of a long-term succession plan that includes his scheduled retirement at 65 years old, his current age. Michael Thamm, now the president of Germany-based AIDA Cruises, has been appointed CEO of the Costa group, which includes Costa Cruises, AIDA Cruises and Spanish operator Ibero Cruises. Mr. Thamm will also serve on Costa's board. online.wsj.com/ar...

Jumbo Shipping, a market leader in oversized and heavyweight cargo transportation, has confirmed the order for a second new K-class vessel, with an option on a third, to complement its existing fleet. Jumbo said after careful consideration and engineering study, it has decided to upgrade the lifting capacity of the vessels from 1,300 to 1,500mt, enabling tandem lifts of 3,000mt. These vessels will comfortably surpass the capability of other vessels in their class and reassert Jumbo's leading market position, the company said in a statement. www.tradearabia.c...

Hapag-Lloyd will discontinue its current Mediterranean West Africa Express (MWX) effective mid-May 2012, which today connects Algeciras and Tangier with Tema, Lagos/Apapa and Cotonou, the Company said on Thursday.