Container Shipping News

Major carriers aim to hike rates in a variety of trade lanes in March, although any increases achieved could be temporary.

China confounded analysts in January as export and import growth accelerated despite the expected negative impact of Chinese New Year and forecasts of slowing economic expansion.

Singapore-based Bengal Tiger Line has introduced a new container feeder service linking Krishnapatnam Port, India, with Colombo, Sri Lanka, effective this month.

Chilean carrier CSAV said it plans to add up to $600 million in capital to complete the financing of ships under construction and to help finance a proposed merger with German shipping line Hapag-Lloyd.

Zim has canceled its remaining orders for four 12,552-TEU ships from Samsung Heavy Industries and four 8,800-TEU ships from Hyundai Samho...

Harbor truck drivers returned to their jobs on Feb. 12 after a four-day strike at the Vallarpadam International Container Transshipment Terminal, a DP World facility in India’s Port of Cochin.

Air and ocean trades to and from China will remain slow until next month due to the Lunar New Year shutdown, according to a survey by JOC of leading transport operators and analysts based in Asia.

A strike by harbor truck crews has affected normal operations at the Vallarpadam International Container Transshipment Terminal, a DP World facility in India’s Port of Cochin.

Containerized imports at U.S. ports are projected to drop to their lowest level of the year in February, but should rebound strongly in the ensuing months, according to the Global Port Tracker published by the National Retail Federation and Hackett Associates.

Danaos, the Greek container ship owner, remained in the red in the fourth quarter of 2013, but swung to a profit for the full year from a loss in 2012.

New estimates on postponement of ship deliveries and scrapping are already tamping down estimates on capacity tonnage growth this year.

Major container lines hope to increase rates in multiple trade lanes in March, April and May, although any hikes achieved could be fleeting.

Shippers should expect declining container ship reliability over the near term.

Mitsui O.S.K. Lines has confirmed to the JOC that it has filed a lawsuit in Tokyo against Mitsubishi Heavy Industries for damages related to the MOL Comfort incident.

International Shipholding Corp. plans to relocate its corporate headquarters next year from Mobile, Ala., to New Orleans, where the company was based from its founding in 1947 until 2006.

Middle East-based Simatech Shipping has announced the launch of a new container service connecting Vallarpadam Transshipment Terminal, India, with Jebel Ali, United Arab Emirates, starting this month.

Work to expand the Panama Canal was suspended today following a breakdown in talks between the canal authority and the construction consortium to resolve a bitter dispute over more than $1 billion in cost overruns.

Based on SeaIntel’s monthly Global Liner Performance reports from 2013, container ships reached their destination ports around the world on time 79.5 percent of the time in 2013...

Goldenport, the Greek shipowner, trimmed its losses in 2013 as a recovering dry bulk market countered the impact of a fifth consecutive year of weak container ship charter rates.

Supply chain operators claim intra-Asia cargo shipped to China via South Korean ports is being hit with unnecessary delays and tariffs that could be part of a Chinese strategy to reduce reliance on foreign transshipment ports.

Japanese carriers NYK Line, MOL and “K” Line posted combined losses of more than 14.5 billion Japanese yen (about US$144.4 million) in the first three quarters of fiscal year 2013...

South Korea’s economy is expected for perform better this year as export demand picks up.

SEA ISLAND, Ga. — A canal through Nicaragua connecting the Atlantic and Pacific oceans will cost double proponents’ estimate and will likely never be built, the No. 2 official at the Panama Canal said today.

Improved economic stability in key markets appears certain to benefit major exporting economies in Asia, as well as ocean carriers, rail operators and airlines that ship their goods.

The impending launches of the P3 and G6 alliances have contributed to fewer ships being laid up and services withdrawn despite weak demand...

United Arab Shipping Co. today said it has exercised an option for six additional 14,000-TEU container ships, taking its total order book to 16 vessels worth more than $2 billion.

CMA CGM has upgraded its Oceania-U.S. service to a weekly frequency with the addition of a second string to its PAD service, which will take effect in the beginning of March.

The transloading of imported cargo from marine containers to domestic containers in Southern California increased sharply in 2013, but new data suggests transloading has hit a plateau and future growth will be incremental.

Container ships arrived at their destination ports across the globe on time 73.7 percent of the time in December 2013...

CMA CGM has announced the launch of a new direct service from the Middle East to Somalia.

Maersk Container Industry has teamed up with Primaira, a Boston-based technology company, to develop a high ozone air cleaning system for refrigerated containers...

VANCOUVER, British Columbia — Li & Fung Logistics is preparing alternatives to shipping through U.S. West Coast ports, as the unit of the global sourcing giant expects some type of International Longshore and Warehouse Union disruption tied to the negotiations for a contract to replace the current one that expires on June 30.

A legally binding rule book for all ships, from container vessels to oil tankers, sailing in Arctic and Antarctic waters, has moved closer after maritime officials agreed on a draft text for a so-called Polar Code.

Jefferies expects Asian container lines’ earnings for the fourth quarter of 2013 overall will be in line with or below Bloomberg consensus estimates, as freight rates in Asia-related trade lanes continued to slide and overcapacity remained.

Costamare’s revenue and earnings grew in the fourth quarter of 2013 from a year earlier as the Greek charter shipowner boosted its fleet.

The United States overtook China to become Japan’s biggest export market for the first time in five years in 2013, according to preliminary trade figures released by the Finance Ministry.

Major container lines hope to increase rates in multiple trade lanes in February, March and April, although any hikes achieved may be temporary.

OOCL’s total revenue in the fourth quarter of 2013 fell 1.6 percent year-over-year to $1.4 billion, partially fueling a 4.9 percent decrease in total yearly revenue...