Container Shipping News

Richard White said in an interview with the Journal of Commerce the logistics industry is stuck in a pattern of tackling small problems instead of viewing international trade as a large, connected system.

Washington is urging NVOs and forwarders to “know their customer,” a steep challenge for co-loaders who bundle multiple shipments for multiple customers into a single container, writes Journal of Commerce Executive Editor Mark Szakonyi.

The gains in spot rates for ocean freight are eroding again as US importers see little need to book more space ahead of the holiday shopping season.

The carrier aims to increase capacity by more than half at the Staten Island terminal it took over as part of its acquisition of Global Container Terminals’ US assets.

The carrier has made a cash offer to acquire just under 50% of HHLA in a deal that will significantly expand its terminal and intermodal reach.

The bids would require carriers to quote a negotiated “green premium” that cargo owners would pay to transport the containers on ships powered by zero-carbon fuels.

As many have observed in disparaging the notion of a “digital” forwarder, of which Flexport was the prototype, forwarding at its core is a business of people solving real-world problems for which there is not — and probably never will be — a technology solution, writes Peter Tirschwell.

The new allegation against Yang Ming comes less than a week after the carrier settled a dispute with another US importer, also over allegations it failed to honor vessel capacity commitments.

Sanctions imposed on Moscow following its invasion of Ukraine continue to limit the attractiveness of transport times as low as 12 days offered by forwarders on the China-North Europe rail network.

Flexport founder and CEO Ryan Petersen refused to pin the blame for the company’s abrupt change in leadership on waning freight demand, saying the forwarder “has been through worse macro environments.”

The head of terminal operator SSA Marine says ports along the US Gulf and Southeast have a strong cost advantage over the West Coast that is fueling their growth, with that gap only expected to widen.

Although the ITS terminal in Long Beach lost two major services in less than a year, the facility will remain open while it attempts to find customers to make up for the volume shortfall in the ongoing down market.

Facing an operating loss of up to $500 million for 2023, Zim hopes the sharing arrangement with its larger competitor will help drive efficiencies “amidst continued near-term headwinds.”

The agreement involves the latest in a series of alternative fuel products being rolled out by major ocean carriers and global forwarders as regulators tighten emissions controls.

A difference of opinion over Flexport’s strategic shift toward fulfillment aimed at small businesses has prompted CEO Dave Clark to depart the company only a year after he came aboard.

There is nothing fundamentally wrong with countries protecting their shipping interests, but there are always ripple effects on the commercial side that benefit some stakeholders and disadvantage others, writes analyst Lars Jensen.

The German-based forwarder remains the largest and most attractive takeover target in a cash-rich industry where the main players are all looking for opportunities to consolidate.

The regional air quality board is pushing back against what it says is “grossly inaccurate rhetoric” from transport interests who say a cap on Southern California cargo volumes may be on the horizon.

Development of trade finance tools for small and medium-sized shippers continues to grow, evidenced by OOCL Logistics launching a trade finance platform with fintech provider Stenn.

Sailing schedules showed delays of up to five days on some services due to the typhoons, including one that hit the coast of southern China Tuesday after sweeping across Taiwan at the weekend.

The spot market from North Europe to the US East Coast continues to weaken and lackluster attempts by carriers to withdraw capacity are having little effect on balancing supply and demand.

Digitalizing the most important document in global trade is a vital step toward a more efficient and secure paperless container shipping industry.

The Hamburg-based carrier has confirmed that HMM’s South Korean state owners have removed it from the bidding process.

The completion of the terminal acquisitions gives the carrier a stronger footprint in the US’s largest East Coast gateway.

Some 75% of union members participating in the vote agreed to ratify the tentative contract that was reached in mid-June, opening the door to labor peace at West Coast ports at least through mid-2028.

The move is part of an ongoing effort by the FMC to bolster the oversight of regulated entities through “informed compliance,” an agency spokesperson said.

A series of quarterly profit declines by container shipping lines will still not be enough to drag the industry into the red in 2023, says analyst John McCown.

Given the short duration of the port and terminal closures, impacts appeared minimal as Jacksonville, Savannah and Charleston resumed normal operations.

For any number of product categories, relocating sourcing brings with it less efficient logistics, occasional lower quality and overall higher costs at a time when cost control is rapidly assuming a higher priority for shippers.

Ports along the southeast coast of the US were experiencing various stages of disruption after a major hurricane made landfall on Florida’s west coast.

US retailers historically stock up for the spring season and top off inventories following winter holiday depletion and before the Chinese New Year, but forwarders and carriers admit there’s no guarantee this time around.

Hapag-Lloyd's apparent interest in HMM, which was never officially confirmed, appears to have been derailed by South Korean national concerns despite the Hamburg-based carrier’s financial strength dwarfing local bidders.

The ports of Vancouver and Prince Rupert experienced a series of labor disruptions in July during longshore contract negotiations, while the Panama Canal implemented draft restrictions amid a severe drought.

But in its interim earnings announcement, Cosco Shipping Holdings also maintained a cautious outlook due to challenges it cited, including the global economy, inflationary pressures in Europe and America, and the delivery of new vessels.

Supply overcapacity coupled with mediocre freight demand has the top 25 trans-Pacific non-vessel-operating common carriers deciding whether to chase lower margin business or suffer volume losses.

Two congress members, backed by terminal operators, are insisting maritime regulators follow the congressional intent that underpins OSRA-22 or risk “severe” disruptions to the US supply chain.

The insetting product enters an industry where there is currently a reluctance by cargo owners to pay premium prices for more eco-friendly shipping services.

The carrier is looking to have an earlier ruling by the FMC reversed, arguing that the agency turned the incentive principle guiding cargo flow through US marine terminals “on its head.”

Inventory drawdowns and right-sizing will keep Asia-to-US container and air freight volumes soft well into 2024, writes analyst Jason Miller.

With a formal request for information, Federal Maritime Commissioner Carl Bentzel believes the agency is introducing a more “transparent and inclusive process” with stakeholders when it comes to policymaking.