Container Shipping News

Debt-stricken carriers Yang Ming and HMM have used government support and the improving market conditions to raise revenue, cut costs, and pare down debts.

Not much spot rate movement on Asia-Europe, but some carriers are planning significant increases from Aug. 15.

Shippers should be able to take advantage of lower rates at Anaklia because of its depth.

South Asia is the leading growth market for container shipping.

CMA CGM has scheduled additional sailings on its routes between Asia and the US Gulf and South Atlantic coasts.

Doubts were raised on how members of the newly formed Korean shipping alliance will be able to cooperate on the fiercely competitive intra-Asia trade.

US containerized imports are forecast to reach the highest-ever monthly total in August.

It took the Competition Commission of Hong Kong almost two years to grant liners a block exemption from anti-trust laws, but the exemption order has been greeted with grumbling by shippers and carriers.

Creditors of bankrupt carrier Hanjin Shipping have filed claims that would give them only a tiny proportion of what is owed, a company attorney has told a New Jersey bankruptcy court.

Behind the new services are surging volumes of key commodities.

The toll changes will be the first since the canal opened new locks in June 2016.

It took the Hong Kong regulator almost two years to grant liner shipping a five-year block exemption from complying with the Competition Ordinance, but it starts today.

“The congestion in Chittagong port has gone beyond the tolerable limit.”

The orders threaten the industry’s fragile return to profitability.

Brazilian coastal carrier Mercosul Line last week suffered two accidents.

The company blamed the shipping segment’s poor performance on slumping freight rates and cargo volumes.

OOCL in first half profit turnaround as volumes and higher rates push up revenue.

The strong US dollar underpins strong growth in the westbound trade, but exports stagnate.

The trans-Atlantic trade remains an oasis of calm, but political threats and opportunities could shake up the trade.

China dominates US scrap paper exports, accounting for almost 84 percent of total containerized wastepaper exports.

Carriers indeed have greater pricing power this year.

The Asia-Europe spot market remains volatile, but the familiar ups and downs have been far less compared with rate movements last year.

The port authority has also commenced 24/7 operations to ease the backlog of containers.

Seaboard, which specializes in Caribbean, Central America, and South American trades, is Miami’s largest carrier.

Shipping lines and shippers are apoplectic.

Profitability is back for carriers on Asia-Europe, but the onslaught of mega vessels into the trade threatens to put the brakes on their financial improvement.

The Hong Kong-based 300Cubits on Tuesday introduced the TEU, not the container unit.

Philly Shipyard said on July 21 it had signed a letter of intent with an unidentified “leading Jones Act carrier” for construction of two container ships.

Asia-Russia ocean shipping rates could decline 30 to 40 percent from current levels by the end of this year.

Danaos reported sharply lower earnings in the second quarter.

GSL’s fleet of 18 ships range in capacity from 2,262 TEU to 11,040 TEU.

The most reliable carrier in the quarter was Wan Hai.

Carriers on the Asia-Europe trade are heading for a vastly improved year.

The positive earnings statements come less than a month after the three established Ocean Network Express.

The New York Stock Exchange-listed company said it has begun the search for a new CEO.

The higher Asia-Europe rates, as well as trans-Pacific rate strength seen this week will help carriers end the year with $5 billion in profit.

Eastbound trans-Pacific spot rates this week surged by double-digits.

The double-digit second-quarter volume and revenue growth will come as good news to OOCL’s prospective new owner, China Cosco Shipping Holdings.

Carrier acquires 707-TEU ship to operate on the route.