Container Shipping News

Container shipping is on the dawn of a “new golden age” of profitability driven by the mergers and acquisition “frenzy” of the past two years.

Zim Integrated Shipping Services on Monday announced a restructuring of services on its key liner routes that will take effect next April.

Maersk Line is scrapping eight Panamax container ships and said it expects to demolish a larger number of vessels in the future than in previous year.

Surging trans-Pacific spot rates put the squeeze on US importers moving goods ahead of Chinese New Year celebrations in Asia.

Asia-Europe spot rates showed some slight weakness but kept to levels ocean carriers sought through the Dec. 1 rate hike push.

Danaos, the Greek container shipowner, crashed to a net loss in the third quarter as the collapse of Hanjin Shipping shrank charter revenue.

Asia-Europe and trans-Pacific contract rates are set to rise through 2017.

The fight between the three major shipping alliances on US trades officially starts in April.

US logistics are jockeying in court to ensure they get paid for services provided to Hanjin Shipping in the wake of an auditor’s report that the carrier has little value and is likely headed for liquidation.

It’s not clear just how much of an impact $1 billion in investment had on the top Florida ports gaining a larger share of Asia imports, but the gains are real.

HMM failed to gain membership of the 2M Alliance, but the slot-sharing deal it signed up to will see the Korean carrier paying a heavy price.

Hints that capacity might tighten at the top global operators, but not at those that want to be among them, come as other industry analysts warn that the gap between supply and demand will widen.

Maersk “will be like one company” offering container shipping, logistics, and port services.

The Iranian container line is ramping up to meet growing international container trade.

Rickmers Maritime Trust confirmed it is selling the youngest ship ever for scrap.

Hyundai to enter slot-sharing deal with Maersk and MSC, but it will be no 2M Alliance membership.

Spot rates in the eastbound Pacific edged lower this week, but another modest spike in freight rates is anticipated later this month.

The trustee-manager canceled a Nov. 9 vote on restructuring a bond because there were insufficient bondholders to form a quorum.

Container lines and shippers can fix what some consider to be a broken industry if they concentrate more on accelerating the flow of data and cargo and less on freight rates and cost-cutting measures.

Rising spot rates as 2016 winds down will not be enough to lift carrier margins back into profitability, but the upwards trend will be a welcome relief after a year to forget.

US regulators are reviewing a proposed agreement between two marine terminal operators at the Port of Miami that would allow the terminals to jointly negotiate terms and conditions with container lines — a first for the United States.

As the Brazilian currency, the real, has weakened, international demand for Brazilian meat has surged, with pork being the biggest beneficiary.

Global container lines found guilty of cartel practices in the Russian market are seeking a settlement with Russian authorities in an attempt to avoid multi-million dollar fines.

A broad range of US shippers, truckers, and transportation intermediaries are asking federal maritime regulators to consider creating a rule to prevent marine terminals and container lines from charging demurrage and detention fees.

Consolidation of container lines could spur them to finally make a clean break from control of intermodal chassis.

The members of THE Alliance on Wednesday announced a revamped Mediterranean-East Coast North America service via a link with Israeli ocean carrier Zim Integrated Shipping Service.

APL will drop its regular general rate increases and adopt the inclusive rate format that was agreed with the EU Commission in July by a host of carriers to resolve a long-running anti-trust probe.

APL has expanded its China-New Zealand network as trade between the two countries almost tripled in the past decade.

The original language would have expanded the antitrust immunity of container shipping alliances.

Indian shippers who have been reeling from unpredictable demand may have some cost relief on the way after the Directorate General of Shipping and stakeholders moved a step closer to reaching an agreement over abolition of shipping surcharges.

Higher costs for operating ships will only increase the financial pressure on container lines already struggling to keep their heads above red ink.

The idle container shipping fleet has soared to 1.7 million twenty-foot-equivalent units this year.

Unless something changes dramatically, container lines risk a repeat of the brutal 2015 to 2016 contracting season; deepening industry losses are set to approach $10 billion this year alone.

Eastbound trans-Pacific spot rates are sliding on the wind down of the peak season.

Container shipping lines are “playing poker” with ports as their push for lower handling charges puts future terminal investments at risk, Drewry Shipping Consultants said.

Maersk Line thinks Brazil’s shipping industry is in store for some Christmas cheer.

Spot rates on the Asia-Europe trade have taken a sharp turn upwards, rising by 20 percent over the previous week.

As shippers scrutinize carriers’ financial stability ahead of the 2016 to 2017 bidding season, the safeguards could provide those that deal with the THE Alliance some reassurances — and give alliance members a contracting edge.

Maersk Line ended weeks of speculation with an announcement that it had reached an agreement to buy Hamburg Süd.

Fitch Ratings said Wednesday it expects Maersk Line to fulfill a long-anticipated takeover of a rival.