Trans-Atlantic

The New York Shipping Exchange’s plan to introduce indexes to support long-term contracts adds to an already crowded field of providers.

There are no signs of any rush to frontload ahead of potential tariff increases on European imports by the new US administration or to get cargo moving before a possible second strike by the ILA.

The carrier has been restrained with its order book up to now, but the order for 312,000 TEUs of capacity comes as pressure to meet 2030 interim decarbonization targets intensifies.

A series of factors are bending the capacity curve back in favor of carriers and could lead to an improved supply-demand balance next year despite a large capacity overhang, believes the Maersk CEO.

The new network will have a grace period for about three months as the first full port rotations are completed but must then quickly prove it can raise on-time performance to the promised levels, says Maersk’s CEO.

Fewer port calls in the Gemini network will allow the carrier to move greater volumes with the same number of ships, Vincent Clerc said while reporting a highly profitable third quarter.

With this latest deal, the combined methanol offtake agreements Maersk now has in place will meet half the demand from its fast-growing dual-fuel fleet in 2027.

By reworking two trans-Atlantic connections, Zim will offer new port coverage in Italy and Turkey while also offering more ways to connect with South America.

The first signs of solid third-quarter performances are being reported by ocean carriers, and with greater visibility over the rest of the year, they are ramping up their profitability expectations.

It marks the second time since August the carrier has increased its 2024 earnings guidance, an indication Maersk expects robust demand and rising rates to deliver a strong finish to the year.

The group, comprising ONE, HMM and Yang Ming, said the changes apply to two trans-Pacific services and an Asia-Mediterranean service.

Shippers on the trans-Atlantic will find space in short supply by the end of October with bottlenecks on both ends of the trade lane reducing capacity.

The strike will affect about 40% of Montreal’s container capacity and comes as port employers remain in protracted talks with the longshore union over a new contract.

Spot rates from Asia to the US East Coast are dropping faster than in past years as carriers route discretionary shipments to the West Coast to avoid getting caught up in a threatened dockworker strike on the East and Gulf coasts.

Mediterranean Shipping Co. is wasting no time utilizing its huge scale, striking major slot sharing agreements on the Asia-Europe with new Premiere alliance members.

After five rounds of negotiations and a series of 24-hour warning strikes at Germany’s ports, the union and port employers may finally be close to an agreement.

With just three weeks to go until the union’s master contract with port employers expires, US importers are scrambling for options but are finding there are no ideal alternatives.

A new warehouse due to open early next year in Portland for frozen and ambient-temperature cargoes could cut transportation costs for shippers now using out-of-state storage and ports.

The first signs of US importers beginning to advance shipments from Europe to get ahead of possible terminal closures along the US East and Gulf coasts at the end of September are being reported by carriers and forwarders.

HHLA’s container volume and financial performance in the first six months has been a marked improvement on a disappointing 2023.

The carrier believes the ongoing disruption in the Red Sea is now “entrenched” and will not change for the rest of the year.

The attempts to raise prices on the westbound trade lane come as the shadow of potential labor disruption looms at ports along the US East and Gulf coasts.

There is growing pushback against the pending regulation that some sectors believe poses an impossible challenge in tracing and verifying the origins of certain products that could lead to their exclusion from the EU market.

The Cosco subsidiary benefited from a sharp increase in rates as early peak season demand on the main trades out of Asia filled all available vessel capacity.

How do you build a robust, resilient system in the face of operational and geopolitical disruptions that throw conventional container shipping networks into disarray?

Measures to mitigate the impact of a potential labor disruption at US East and Gulf coast ports could cause the trans-Atlantic market to follow the same path as the heavily disrupted trades out of Asia.

The customs pre-arrival security and safety program is being implemented in three steps, starting with ocean and inland waterway carriers in June.

The strains to the extended container shipping system amid the ongoing Red Sea disruption are showing again, largely due to higher-than-expected demand in Europe and the US for Asia imports.

The carrier has pledged to remain loyal to its core container shipping segment but at the same time is rapidly expanding its terminal business and increasing its share of inland transport capacity.

Firm growth in imports from Europe in the first quarter has lifted rates to more sustainable levels for carriers as the trans-Atlantic trade lane appears to have finally turned the page on a dismal 2023.

The import strength goes beyond restocking, showing the impact of a recovery in housing and the US manufacturing resurgence, writes Peter Tirschwell.

Ocean carriers have signaled their belief that US consumer buying will remain strong into the second half of the year by announcing the launch or restart of 11 services involving the trans-Pacific and north-south trades.

Carriers have been unable to shake a perception among shippers that surcharges were being set above cost-recovery levels, with a report this week directly accusing carriers of “profiteering” from the ETS.

With the fifth-largest container port on the US East Coast now effectively isolated from waterborne traffic, the collapse of the Francis Scott Key Bridge after it was struck by a container ship will, at least temporarily, reconfigure the region’s supply chain.

Hapag-Lloyd's CEO insists the total cost of the network will be lower because Gemini will be able to better utilize controlled assets and deliver more efficient cargo connections in the hub and spoke model.

Even as the industry seemingly adjusts to the new status quo of routing ships around southern Africa, there are significant — yet less apparent — changes afoot in container shipping, writes Journal of Commerce Executive Editor Mark Szakonyi.

A drop in schedule reliability was expected on trade lanes such as Asia-Europe and Asia-US East Coast, but the diversions around southern Africa have also affected routes not directly connected to the Red Sea.

The Port of Jacksonville said the first ship on the newly combined trans-Atlantic and north-south service from Mediterranean Shipping Co. called the port this month.

The move has already prompted Busan, one of the ports most affected by the downgrade, to urge Maersk and Hapag-Lloyd to rethink their Gemini vessel schedules and restore some calls at the South Korean gateway.

Container shipping networks from Asia to North Europe and the Mediterranean are being reshaped as carriers redeploy capacity to compensate for the additional transit time needed to sail around southern Africa.