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News and analysis of freight forwarding, NVOCCs, third-party logistics, and shipper strategies
The latest
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News & Analysis
Waterfront Commission Report Adds Fuel to ILA Fire
Joseph Bonney, Senior Editor |
Stories of mob connections, excess staffing and $400,000-a-year dockworker pay at the New York-New Jersey port got a fresh airing from the Waterfront Commission of New York Harbor just days before the
Longshore labor
Maritime
Forwarding
Building Confidence in Europe
Bruce Barnard, Special Correspondent |
When Maersk Line shocked the maritime world in late March by suspending bookings in its North Europe-Asia service, it highlighted a trend easily lost amid headlines of sovereign debt crises and financ
Forwarding
Maritime
Container lines
US Footwear Importers Walking Away From China
Bill Mongelluzzo, Associate Editor |
For the past decade, importers of footwear had a basic sourcing philosophy: China first, China only.
International ports
Maritime
Forwarding
China Merchants Profit Drops 5.2 Percent
Peter T. Leach, Senior Editor |
China Merchants Holdings reported a 5.2 percent year-over-year drop in net profit for 2011 even as the volume of containers handled by its terminals increased 9.6 percent.<br /> <br />
Port News
Forwarding
Drewry Questions Whether Rate Increases Will Hold
Peter T. Leach, Senior Editor |
Although spot freight rates on the Asia-Europe and trans-Pacific trade lanes have risen dramatically as a result of the general rate increases implemented by carriers in March, rates will come under i
Forwarding
Container lines
Protests at India's Port Nehru End
JOC Staff |
India’s Port of Jawaharlal Nehru (Nhava Sheva) resumed operations on Thursday night following the end of a three-day campaign of picketing by dockworkers and supporters of local political partie
Port News
Forwarding
ILA, USMX Exchange Contract Proposals, Express 'Confidence'
Joseph Bonney, Senior Editor |
The International Longshoremen’s Association and its East and Gulf coast employers <a target="_blank" href="http://www.joc.com/labor/ila-employers-meet-talks"><u>exchanged initial contract propo
Longshore labor
Forwarding
Hapag-Lloyd to Hike India-US Rates
JOC Staff |
Hapag-Lloyd will impose a general rate increase on all cargo from the Indian Subcontinent to the U.S. and Canada, starting May 1.<br /> <br />
Container lines
Forwarding
Maersk to Clear Backlogs, Raise Rates on North Europe-Asia Services
Mike King, Special Correspondent |
Maersk will clear backlogs on North Europe-Asia services by early May and introduce a new general rate increase from the start of the month, according to Thomas Knudsen, CEO, Maersk Line, Asia Pacific
Container lines
Forwarding
China Cosco Reports $1.66 Billion 2011 Loss
Peter T. Leach, Senior Editor |
China Cosco Holdings swung to a full-year net loss of $1.66 billion in 2011, according to Chinese accounting standards, because of slowing international trade volumes and higher bunker fuel costs.
Container lines
Forwarding
Challenges Mount in Trans-Atlantic Shipping Lanes
Peter T. Leach, Senior Editor |
The trans-Atlantic trade, long the most stable of the east-west shipping markets in terms of freight rates and vessel capacity, could come unhinged this year as carriers bring in more ships from other
Forwarding
Maritime
MOL Expands Africa-Asia Shipping Services
Mike King, Special Correspondent |
MOL will expand its container shipping services between Asia and Africa with a new route next month.<br /> <br />
Container lines
Forwarding
PSA Sees Profits Fall Despite Global Volume Growth
Mike King, Special Correspondent |
Singapore’s PSA Group recorded a 3.7 percent drop in profits last year despite volumes handled at its global portfolio of container terminals increasing 5.6 percent compared to a year earlier.<b
Port News
Forwarding
Cosco to Launch Asia-Houston Loop With Newest Ship
Peter T. Leach, Senior Editor |
<a target="_blank" href="http://www.joc.com/container-lines/cosco-china-shipping-look-expand-vessel-sharing-pacts"><u>Cosco Container Lines</u></a> plans to launch its new all-water service next month
Forwarding
Container lines
FastShip Files for Chapter 11 Bankruptcy
Joseph Bonney, Senior Editor |
FastShip, which hoped a decade ago to launch a speedy trans-Atlantic service using innovative technology, has filed for Chapter 11 bankruptcy in hope of raising funds for a patent-infringement lawsuit
Forwarding
Container lines
Asia-Europe Spot Rates Edge Up
Peter T. Leach, Senior Editor |
Average Asia-Europe spot prices edged up slightly this week in a sign that the hefty general rate increases implemented by carriers on March 15 are holding up. <br /> <br />
Container lines
Forwarding
DP World Profit Soars 82 Percent
Bruce Barnard, Special Correspondent |
DP World booked an 82 percent increase in profit in 2011 at $683 million, up from $372 million a year earlier, driven by gains on the sale of a majority stake in its Australian container terminals.<br
Port News
Forwarding
Zim Ends 2011 With $397 Million Loss
Bruce Barnard, Special Correspondent |
Zim Integrated Shipping Services swung to a $397 million loss in 2011 from a $54 million profit in 2010 as the Israeli ocean carrier faced tougher competition in a deteriorating container shipping mar
Container lines
Forwarding
US Steel Imports Declined in February
Peter T. Leach, Senior Editor |
U.S. steel imports declined 4.5 percent in February month-to-month despite a large increase in slab imports, according to preliminary government data.<br /> <br />
Forwarding
Nagoya Box Trade Rises 3.2 Percent in 2011
Hisane Masaki, Special Correspondent |
The number of foreign trade containers handled by the Port of Nagoya in central Japan rose 3.2 percent in 2011 from the previous year to 2,472,264 twenty-foot equivalent units (TEUs), according to pre
Port News
Forwarding
Maersk Plans New Rate Increases
JOC Staff |
Maersk Line plans to implement a series of general rate increases on various trade lanes, as part of a new rate restoration program.<br /> <br />
Container lines
Forwarding
Export Growth Tied to Reduction in Port Delays
Bill Mongelluzzo, Associate Editor |
A spokesman for agricultural interests called upon ports to help increase U.S. exports by reducing delays at marine terminals.<br /> <br />
Port News
Forwarding
Cool Cargo News
Busy Peak Shipping Season Forecast
Bill Mongelluzzo, Associate Editor |
During peak-season 2011, U.S. ports handled about 800,000 20-foot container units less than the macro economy indicated they should have moved.
Container lines
Forwarding
Trans-Pacific Spot Rates Ease, But Stay High
Peter T. Leach, Senior Editor |
Average trans-Pacific spot rates this week eased off from their recent high of two weeks ago when carriers that belong to the Transpacific Stabilization Agreement put into effect <a target="_blank" hr
Container lines
Forwarding
Protest Closes India's Port Nehru
JOC Staff |
A protest by local political parties and trade unions shut down India’s Port of Jawaharlal Nehru (Nhava Sheva), forcing ocean carriers to skip calls at the <a href="http://www.joc.com/portstermin
Longshore labor
Forwarding
Pacer Names Benki to Run Asia, Europe Logistics
Peter T. Leach, Senior Editor |
Pacer International named Al Benki as senior vice president, international logistics for Asian and European operations, where he will be responsible for growth of its international business units, Oce
International ports
Forwarding
Cosco Pacific Profit Climbs 7.6 Percent
Peter T. Leach, Senior Editor |
Cosco Pacific on Tuesday reported a net profit of $388.8 million for 2011, an increase of 7.6 percent year over year.<br /> <br />
Port News
Forwarding
MSC Merges India-Europe-Mediterranean Services
JOC Staff |
Mediterranean Shipping Company will upgrade and combine its existing Indian Subcontinent-Europe-Mediterranean service network operated in conjunction with Shipping Corporation of India, effective in e
Container lines
Forwarding
Illios Shipping Fined for Illegal Waste Dumping
Mark Szakonyi, Associate Editor |
The Department of Justice ordered Illios Shipping to pay $2 million in criminal fines after the Greek carrier admitted to illegally dumping waste and destroying related records. <br /> <br />
Forwarding
Rickmers and TOTE Join World Shipping Council
Peter T. Leach, Senior Editor |
Rickmers-Linie and TOTE have joined the World Shipping Council as the newest members of the Washington-based maritime association.<br /> <br />
Container lines
Forwarding
UASC to Hike Europe-Asia Cargo Rates
JOC Staff |
United Arab Shipping Company will apply a general rate increase on eastbound cargo from North Europe to Asia and the Indian Subcontinent.<br /> <br />
Container lines
Forwarding
Horizon Expects $6.4 Million Fourth Quarter Loss
Peter T. Leach, Senior Editor |
Horizon Lines said Tuesday it expects to report a fourth quarter loss of $6.4 million from continuing operations basis on a GAAP (general accepted accounting principles) basis, compared with an operat
Container lines
Forwarding
DP World Repays $3 Billion Loan Early
Bruce Barnard, Associate Editor |
Global ports operator DP World is tapping its cash resources to repay a $3 billion revolving credit facility six months before it matures in October. <br /> <br />
Port News
Forwarding
Yokohama Container Volume Slides 6.2 Percent
Hisane Masaki, Special Correspondent |
International trade through Japan’s Port of Yokohama declined 6.2 percent in 2011 from 2010 to 2.8 million 20-foot equivalent units, according to preliminary figures released by the Yokohama mun
Port News
Forwarding
Hanjin Takes Delivery of First 13,000-TEU Ships
Peter T. Leach, Senior Editor |
Hanjin Shipping took delivery of the first two of a series of <u><em><a href="http://www.joc.com/container-lines/hanjin-suspends-asia-europe-loop-orders-five-ships">nine 13,100-TEU capacity container
Container lines
Forwarding
Operating Profit, Traffic Soar at Russia's Global Ports
Bruce Barnard, Special Correspondent |
Russia’s Global Ports booked net income of $146.9 million in 2011, up 23 percent on the previous year, as its Baltic and Far East container terminals boosted traffic 44 percent to more than 1.3
Port News
Forwarding
Obama Team Pushing Export Promotion Initiatives
Bill Mongelluzzo, Associate Editor |
Encouraging small and midsize companies to enter the export arena will put the U.S.
Forwarding
MSC Imposes Equipment Surcharge in Europe-Asia Trade
Bruce Barnard, Special Correspondent |
Mediterranean Shipping Co is imposing an “equipment imbalance“ surcharge and “no-show” penalties on the North Europe-Asia route after rival Maersk Line stopped taking cargo boo
Container lines
Forwarding
US Container Exports Grew 2.3 Percent in January
Peter T. Leach, Senior Editor |
U.S. containerized exports increased modestly in January as solid growth in Asian markets was partially offset by losses in European markets. Overall U.S.
Forwarding
Maritime
Hapag-Lloyd Plans Europe-Asia Fuel Surcharge
JOC Team |
Hapag-Lloyd will impose an “interim fuel participation” surcharge on Europe-Asia trade lanes to cover rising bunker costs.<br /> <br />
Container lines
Forwarding
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