Container lines

Citing “recent market developments,” Emirates Shipping Line has announced general rate increases effective Dec. 1, 2012.

Despite the slew of rate restoration plans and general rate increases announced by lines for December and January, excess capacity will continue to undermine efforts to boost revenues into 2013, according to leading analysts.

CMA CGM is on the verge of a hard-fought agreement with its banks to restructure $4.6 billion of loans, ending months of uncertainty over the future of the world’s third-largest ocean carrier.

Japan’s exports to the U.S. rose for the 12th consecutive month in October on a year-over-year basis, increasing 3.1 percent to $11.2 billion, according to preliminary figures released by the Finance Ministry.

More maritime regulatory reform is needed in Asia to protect shippers from collusion by lines, the Asian Shippers’ Council says.

Hanjin Shipping recently announced a rate restoration surcharge plan for its Asia-Europe trade, effective Dec. 16.

Global maritime company Diana Shipping today reported income in the third quarter was $12.3 million, slumping 53.4 percent compared with $26.4 million in the same quarter last year.

French ocean carrier CMA CGM recently announced rate restoration and peak season surcharges.

French ocean carrier CMA CGM booked net income of $371 million for the third quarter, driven by higher freight rates across all trades and higher-than-targeted cost savings.

The world’s container ship fleet has expanded slower than forecast in 2012, but the slowdown will not address the current oversupply of capacity, according to industry analyst Alphaliner.

Container freight shipping company Evergreen Line recently announced a general rate increase for reefer cargo, effective Jan. 1, 2013.

Prospects for nearshoring, which is the transfer of business to a nearby country, have never looked better as U.S. companies turn to Mexico for the production of a variety of industrial and consumer goods.

Honolulu-based Matson today named Ku’uhaku Park its new vice president of government and community relations. He will be responsible for directing the shipping carrier’s government relations and community service activities...

Container shipping lines are posting profits again, but they aren’t ready to celebrate.

A continuing tight labor market in China is rapidly eroding that country’s share of U.S. footwear imports, as other nations like Vietnam are growing, according to a new JOC analysis.

Shippers this week are still struggling to recover import cargo that was bound for the Port of New York and New Jersey at the end of October when Hurricane Sandy forced inbound container ships to unload at other East Coast ports.

Ocean transportation company Seaboard Marine plans to launch a weekly shipping service between the Port of Miami and Puerto Morelos in Mexico, commencing Nov. 15.

Government data showed U.S. steel exports in September were 1.2 million tons, down 9.7 percent from August and 12.8 percent from September 2011, the American Institute for International Steel reported today.

India’s exports during October were valued at $2.3 billion, a decrease of 1.6 percent from $2.4 billion during the same month last year; and imports were $4.4 billion, jumping 7.4 percent year-over-year from $4.1 billion.

The members of the Caribbean Shipowners Association recently announced general rate increases and peak season surcharges for 2013, including rates for Haiti, with the first GRI set to take effect on Feb. 24.

Barge traffic on the Mississippi River between St. Louis and Cairo, Ill., may be restricted or halted in the beginning of December...

Maersk Line swung to a third quarter net operating profit of $498 million from a year-earlier loss of $289 million on higher ocean freight rates, cost savings and a lower fuel bill.