Industry News

News from JOC Journal of Commerce

• Digitization to transform US LTL trucking August 4, 2020
  [caption caption="LTL carriers are using technology to streamline the flow of data from bills of lading through delivery receipts. Photo credit: Shutterstock.com."][/caption]Less-than-truckload (LTL) carriers set the pattern for US trucking a hundred years ago, but due to the complexity of the business, LTL operators and their shipper customers have been...
• Carriers need to come to table to help solve ‘chassis crisis’ August 4, 2020
  When the Harbor Trucking Association began advocating for the adoption of empty appointments, it was to help avoid the impact of extreme congestion at marine terminals generated by empty returns directed by the ocean carriers. The concept was based on the belief that appointments would be guaranteed and used as...
• Container lines diverting ships from strike-hit Montreal August 4, 2020
  [caption caption="Other carriers serving Montreal are also looking to divert ships' calls, suggesting they expect strike actions to extend beyond Friday, when checkers and longshore workers are due to return to work. Photo credit: Shutterstock.com."][/caption]Container lines are diverting calls from the Port of Montreal and one marine terminal has begun...
• Brokers tapping consumer tech to extend value for small shippers August 4, 2020
  [caption caption="Freight brokers can connect with enterprise shippers through transportation management system integrations but are using third-party service enticements to lure smaller shippers. Photo credit: Shutterstock.com."][/caption]Freight brokers are taking the unusual step of offering value-added services such as third-party accounting software and independent contractor marketplaces to lure small and mid-sized...
• The 4 Most Common Challenges in Providing PPE and How to Conquer Them August 4, 2020
  At the start of April, America’s Strategic National Stockpile of emergency supplies was almost nonexistent. According to reports, when it was running frighteningly low, containing only about 9,000 ventilatorsii, New York state alone needed an additional 37,000 ventilators.The Coronavirus pandemic has exposed the undeniable connection between our healthcare quality and...
• UP expands California surcharge to all shippers August 4, 2020
  [caption caption="Union Pacific Railroad's volume, which was down more than 20 percent in April, has turned positive year over year for the first time in 2020 in the last three weeks. Photo credit: Angel DiBilio/Shutterstock.com."][/caption]All Union Pacific Railroad shippers will be subject to a $500 surcharge out of California for...
• July jump in Chittagong exports linked to COVID-delayed orders August 4, 2020
  [caption caption="Apparel manufacturers in Bangladesh say western buyers have canceled or suspended some $4 billion worth of work orders since March, but have since restored some of the orders. Photo credit: Shutterstock.com."][/caption]Export volumes through the Bangladeshi port of Chittagong saw an almost 50 percent jump in July, but sources say...
• Dredging to boost vessel size limit for Port of New Orleans August 4, 2020
  [caption caption="The deepening project adds New Orleans to the list of Gulf Coast ports looking to service larger ships that can transit the Panama Canal’s wider locks. Photo credit: Shutterstock.com."][/caption]The US Army Corps of Engineers (USACE) has taken the first steps to deepen a 256-mile stretch of the Mississippi River...
• Forager adds instant long-term contract rates to cross-border marketplace August 4, 2020
  [caption caption="Forager hopes to build density in its marketplace by inducing enterprise shippers to access cross-border capacity via direct links to their transportation management systems. Photo credit: Shutterstock.com."][/caption]Cross-border freight marketplace Forager on Tuesday released a new version of its software that allows shippers to secure instant contract pricing for up...
• Terminal technology helps Crowley adapt to need for speed August 3, 2020
  [caption caption="Crowley wanted to avoid the traps that come with customizing terminal operating software so it adjusted its operations to fit Tideworks' standard product. Photo credit: Crowley Maritime Corp. "][/caption]A change in the terminal operating system (TOS) used by Crowley Maritime Corp. has sped up truck turn times and allowed for...
• Port checkers to join in second week of Montreal strikes August 3, 2020
  [caption caption="Montreal port checkers said employers had implemented technology in an attempt to replace their jobs. Photo credit: Shutterstock.com."][/caption]Montreal port checkers said they will strike for 48 hours starting Wednesday morning at the Termont terminals, paralleling an ongoing strike by longshore workers that is also set to end Friday morning. The...
• ONE reports $167 million profit; sees volumes recovering August 3, 2020
  [caption caption="With volumes down 20 percent in the April-June period, the carrier blanked capacity to boost ship utilization. Photo credit: Shutterstock.com."][/caption]Ocean Network Express (ONE) Monday reported a $167 million profit in its first fiscal quarter, saying pandemic-hit volumes are rebounding from the 20 percent drop it saw in the April...
• Asia-US import surge, tight capacity to last into August August 3, 2020
  [caption caption="Carriers have maintained 10-year highs in spot rates by carefully managing capacity. Photo credit: Shutterstock.com."][/caption]Carriers, ports, and forwarders say the current spike in US imports from Asia that began in early July will last at least through August, but their vision is blurred beyond that.Some stakeholders, including the importers...
• JOC Rankings: Top trans-Atlantic carriers, ports weather lower volumes August 3, 2020
  [caption caption="US containerized imports from Europe slipped 4.5 percent to just shy of 1.41 million TEU in the first five months of the year, while outbound US–Europe trade tumbled 11.9 percent to 730,034 TEU. Photo credit: Shutterstock.com."][/caption]The combination of a steep decline in demand caused by the economic effects of...
• Transport capacity tightening for Amazon third-party sellers July 31, 2020
  [caption caption="Strong consumer demand stressed Amazon’s logistics network as third-party seller services net sales increased 53 percent, outpacing online stores’ net revenue increase of 49 percent. Photo credit: VDB Photos/Shutterstock.com."][/caption]Third-party sellers on Amazon will find it even harder to get transport capacity from the e-commerce giant as its fulfillment centers...
• Caterpillar says heavy equipment dealers slashing ro-ro orders July 31, 2020
  [caption caption="A Caterpillar bulldozer at work in Germany. Photo credit: EdgarGBiehle/Shutterstock.com."][/caption]Heavy equipment dealers cut global inventories of Caterpillar rolling stock by about $1.2 billion during the first half of 2020 and are expected to cut another $1 billion in the second half, sending a broader warning of reduced roll-on, roll-off...
• Asia-US West Coast FEU spot rates clear $3,000 bar July 31, 2020
  [caption caption="The Asia–US West Coast spot rate is now 121 percent higher than at the same time last year, while the East Coast rate is up 24.8 percent. Photo credit: Shutterstock.com."][/caption]Spot rates in the eastbound trans-Pacific this week continued to surge, blowing past $3,000 per FEU to the US West...
• COVID-19 outbreak disrupts Asia-South Africa container service July 31, 2020
  [caption caption="The number of new cases in the city of Durban alone (port pictured) has surged this week, with more than 20,000 new cases reported in the last two days. Photo credit: Shutterstock.com."][/caption]Hapag-Lloyd and Ocean Network Express (ONE) say Asia-South Africa services are disrupted by an outbreak of the coronavirus...
• Montreal longshore workers to begin another 96-hour strike Monday July 31, 2020
  [caption caption="Montreal port unions can strike for a set period, or indefinitely, as long as they issue a 72-hour notice to employers. Photo credit: Shutterstock.com."][/caption]Montreal longshore workers have issued a 72-hour notice that they will begin another 96-hour strike targeting the Termont terminals, the latest escalation as marine terminal operators...
• JOC Uncharted: Latam logistics ripe for technological innovation July 31, 2020
  [caption caption="Logistics providers in South America have a huge addressable market but also contend with divergent customs regulations and customer expectations across the continent"][/caption]Technology can help the Latin American market address logistics inefficiencies, but convincing shippers of this will be a gradual process, Janan Knust, CEO of Santiago, Chile-based KGroup...

News from Lloyd’s List – Containers

Warning: A non-numeric value encountered in /home/clients/325d7315aa3ca7b3f8ce7e55a707111b/web/wordpress/wp-includes/SimplePie/Parse/Date.php on line 694

Warning: A non-numeric value encountered in /home/clients/325d7315aa3ca7b3f8ce7e55a707111b/web/wordpress/wp-includes/SimplePie/Parse/Date.php on line 694

Warning: A non-numeric value encountered in /home/clients/325d7315aa3ca7b3f8ce7e55a707111b/web/wordpress/wp-includes/SimplePie/Parse/Date.php on line 694

Warning: A non-numeric value encountered in /home/clients/325d7315aa3ca7b3f8ce7e55a707111b/web/wordpress/wp-includes/SimplePie/Parse/Date.php on line 694

Warning: A non-numeric value encountered in /home/clients/325d7315aa3ca7b3f8ce7e55a707111b/web/wordpress/wp-includes/SimplePie/Parse/Date.php on line 694

Warning: A non-numeric value encountered in /home/clients/325d7315aa3ca7b3f8ce7e55a707111b/web/wordpress/wp-includes/SimplePie/Parse/Date.php on line 694

Warning: A non-numeric value encountered in /home/clients/325d7315aa3ca7b3f8ce7e55a707111b/web/wordpress/wp-includes/SimplePie/Parse/Date.php on line 694

Warning: A non-numeric value encountered in /home/clients/325d7315aa3ca7b3f8ce7e55a707111b/web/wordpress/wp-includes/SimplePie/Parse/Date.php on line 694

Warning: A non-numeric value encountered in /home/clients/325d7315aa3ca7b3f8ce7e55a707111b/web/wordpress/wp-includes/SimplePie/Parse/Date.php on line 694

Warning: A non-numeric value encountered in /home/clients/325d7315aa3ca7b3f8ce7e55a707111b/web/wordpress/wp-includes/SimplePie/Parse/Date.php on line 694

Warning: A non-numeric value encountered in /home/clients/325d7315aa3ca7b3f8ce7e55a707111b/web/wordpress/wp-includes/SimplePie/Parse/Date.php on line 694

Warning: A non-numeric value encountered in /home/clients/325d7315aa3ca7b3f8ce7e55a707111b/web/wordpress/wp-includes/SimplePie/Parse/Date.php on line 694

Warning: A non-numeric value encountered in /home/clients/325d7315aa3ca7b3f8ce7e55a707111b/web/wordpress/wp-includes/SimplePie/Parse/Date.php on line 694

Warning: A non-numeric value encountered in /home/clients/325d7315aa3ca7b3f8ce7e55a707111b/web/wordpress/wp-includes/SimplePie/Parse/Date.php on line 694

Warning: A non-numeric value encountered in /home/clients/325d7315aa3ca7b3f8ce7e55a707111b/web/wordpress/wp-includes/SimplePie/Parse/Date.php on line 694

Warning: A non-numeric value encountered in /home/clients/325d7315aa3ca7b3f8ce7e55a707111b/web/wordpress/wp-includes/SimplePie/Parse/Date.php on line 694

Warning: A non-numeric value encountered in /home/clients/325d7315aa3ca7b3f8ce7e55a707111b/web/wordpress/wp-includes/SimplePie/Parse/Date.php on line 694

Warning: A non-numeric value encountered in /home/clients/325d7315aa3ca7b3f8ce7e55a707111b/web/wordpress/wp-includes/SimplePie/Parse/Date.php on line 694

Warning: A non-numeric value encountered in /home/clients/325d7315aa3ca7b3f8ce7e55a707111b/web/wordpress/wp-includes/SimplePie/Parse/Date.php on line 694

Warning: A non-numeric value encountered in /home/clients/325d7315aa3ca7b3f8ce7e55a707111b/web/wordpress/wp-includes/SimplePie/Parse/Date.php on line 694

• K Line to cut 52 vessels amid ‘harsh business environment’ August 5, 2020
  Company’s net losses stood at ¥955m in the first quarter compared to the year-ago net profits of ¥7.8bn      Related StoriesBaltic Dry Index gets lift from capesize and panamax segmentBeirut's port closed after huge blast; death toll at least 100Beirut's port closed after huge blasts; death toll at least 100 
• Global supply chain flaws exposed by pandemic, analysts report August 4, 2020
  Boston Consulting Group analysts believe supply chain businesses, along with shipping lines, must be aware of seismic changes in trade...      Related StoriesK Line to cut 52 vessels amid ‘harsh business environment’Baltic Dry Index gets lift from capesize and panamax segmentBeirut's port closed after huge blast; death toll at least 100 
• From the News Desk: Decarbonisation requires joined-up thinking August 4, 2020
  It is clear there is no single answer to shipping’s decarbonisation dilemma and it is certain that different fuels will...      Related StoriesOutlook: Is shipping coping with the pandemic?Half-year outlook: Is shipping coping with the pandemic?Pandemic fallout delays vessel deliveries and limits new orders 
• Chinese shipper accuses carriers of profiteering August 4, 2020
  Lockek: ‘Not only is the price high, many exporting companies also need to book the slots more than 20 days...      Related StoriesK Line to cut 52 vessels amid ‘harsh business environment’Baltic Dry Index gets lift from capesize and panamax segmentBeirut's port closed after huge blast; death toll at least 100 
• Outlook: Is shipping coping with the pandemic? August 4, 2020
  The outlooks, forecasts and predictions for 2020 which were compiled at the end of last year now look like they...      Related StoriesFrom the News Desk: Decarbonisation requires joined-up thinkingHalf-year outlook: Is shipping coping with the pandemic?Pandemic fallout delays vessel deliveries and limits new orders 
• Danaos sees optimism in container market August 4, 2020
  Greece-based owner says it is ‘cautiously optimistic’ for the medium-term market outlook, with the orderbook currently in single digits as...      Related StoriesK Line to cut 52 vessels amid ‘harsh business environment’Baltic Dry Index gets lift from capesize and panamax segmentBeirut's port closed after huge blast; death toll at least 100 
• DHL maintains strategy in face of tighter supply chains August 4, 2020
  Lower volumes in eastbound transpacific and Asia-Europe trades confirmed. Elsewhere, strong demand is being seen in intra-Asia and Asia-Oceania      Related StoriesK Line to cut 52 vessels amid ‘harsh business environment’Baltic Dry Index gets lift from capesize and panamax segmentBeirut's port closed after huge blast; death toll at least 100 
• Seafarer crisis is a challenge for the whole marine sector August 4, 2020
  First and foremost, shipowners and their insurers will very likely face claims from seafarers      Related StoriesSeafarer crisis is a challenge for the marine sectorUK sanctions guidelines said to be ‘misleading and incorrect'With all hopes pinned on China, the new normal looks very familiar 
• Capital Product chief taking ‘opportunistic approach’ August 3, 2020
  Partnership posts improved net income from continuing operations of $8.7m for the second quarter      Related StoriesK Line to cut 52 vessels amid ‘harsh business environment’Baltic Dry Index gets lift from capesize and panamax segmentBeirut's port closed after huge blast; death toll at least 100 
• Cosco boosted by record transpacific rates August 3, 2020
  The recent waves of consolidation in the container shipping sector has led to a ‘better than expected’ capacity discipline, which...      Related StoriesK Line to cut 52 vessels amid ‘harsh business environment’Baltic Dry Index gets lift from capesize and panamax segmentBeirut's port closed after huge blast; death toll at least 100 

News from Container Management

• VSC completes upgrade of more than 18,000 sq m at Vostochny Port August 5, 2020
  Vostochnaya Stevedoring Company (VSC) has completed the upgrade of more than 18,000 sq m of storage yard at Vostochny Port, Russia. The upgrade is the latest achievement in an extensive handling equipment and operating facility upgrade programme which aims to increase capacity and improve efficiency and speed of cargo handling at the terminal. VSC has […]
• Yizheng Port orders four medium and heavy forklifts from Kalmar August 5, 2020
  Kalmar has received an order for four forklifts from Yizheng Port, a provider of goods warehousing services, which is about to commence a new port project. The order comprises two Essential models with a lifting capacity of 16 tonnes and two heavy forklifts with a lifting capacity of 25 tonnes. The machines will be used […]
• Duisport to invest in northern Italian logistics network August 4, 2020
  Duisport is preparing to invest in the hinterland of the Port of Trieste, as it looks to strengthen its network in northern Italy with better rail connections and logistics services. The investment by duisport together with the Port of Authority of Trieste and local financial holding company Fruilia will target Interporto di Trieste, a company […]
• Evergreen joins Ship Recycling Transparency Initiative August 4, 2020
  Evergreen Marine Corporation has become a signatory to the Ship Recycling Transparency Initiative (SRTI) as part of its commitment to plan a completely sustainable life cycle for its vessels. Hosted by the Sustainable Shipping Initiative, the SRTI is an online platform via which members report information on their ship recycling policies and activities against a […]
• Montecon orders two Liebherr electric RTGs August 3, 2020
  Montecon has ordered two large electric rubber-tyred gantry (RTG) cranes from Liebherr, the largest to have been built by the manufacturer. The machines are also a first Liebherr RTGs to be delivered to Uruguay and are able to stack ten containers and a truck lane wide and 1-over-6 containers high. Ray Cronin, Liebherr’s area sale […]
• Agreement signed to deepen Lower Mississippi River to 50 ft August 3, 2020
  Officials from the state of Louisiana have signed an agreement with the US Army Corps of Engineers to begin construction on the deepening of the Lower Mississippi River from 45 ft to 50 ft. This project will provide deep draught access to the ports at Baton Rouge, New Orleans, South Louisiana, St. Bernard and Plaquemines. […]
• APMT first to launch fully digital export management system in Russia July 31, 2020
  APM Terminals (APMT)’s First Container Terminal (FCT) will become the first Russian terminal to transfer to a fully paperless management system for containers. The transfer to this technology, which enables the digital exchange of legally bending documents with the customs authority, comes after a successful test at the Turukhtanny customs post in June this year. […]
• Carrier Transicold enhances data management platform July 31, 2020
  Carrier Transicold has enhanced its TripLINK data management platform for round the clock remote monitoring and control of refrigerated containers. The upgrade is designed to feature greater functionality, more actionable intelligence and customisable fleet control addressing a shipping line’s unique needs. The enhancements include custom notifications based on user-created parameters to show unit status, alarms […]
• Port of Houston sees decline in volumes due to COVID-19 July 30, 2020
  The Port of Houston’s container volume has slowed down due to COVID-19 with June’s volumes down 16% year-on-year while throughput for the first half of the year fell 2%. For the full year so far, the port has handled approximately 40,000 teu less than 2019 – which was a record year – with a total […]
• ABP embeds drone technology into asset management practices July 30, 2020
  Associated British Ports (ABP) has successfully embedded drone technology into its asset management practices and policies, following an 18 month programme. It utilised PwC’s specialist drone digital transformation team to support drone adoption and transformation in asset management, while Aerodyne Group was selected as ABP’s drone service provider. According to the port operator, analysis and […]
• ICTSI to develop and operate Cameroon’s Kribi terminal July 29, 2020
  International Container Terminal Services, Inc. (ICTSI) has signed a 25-year concession contract with the Port Autonome de Kribi (PAK) for the development, operation and maintenance of the Kribi Multipurpose Terminal (KMT) in Cameroon. KMT, a subsidiary of ICTSI, is a newly built deep-water port located 150 km south of Douala, the largest city in Cameroon. […]
• DP World to acquire majority stake in UNICO Logistics July 29, 2020
  DP World has agreed to acquire 60% shareholding in UNICO Logistics Co., which is one of the largest independent non-vessel operating common carriers (NVOCC) in South Korea. The transaction, subject to regulatory clearances, is expected to close in the fourth quarter of 2020 and is part of DP World’s vision to build an integrated suite […]
• MSC bolsters short sea and intermodal offering for Italian cargo July 28, 2020
  MSC has further integrated its intermodal inland transportation services as it attempts to strengthen its position in the Italian cargo market. By combining its shipping services with inland operations, it aims to create door-to-door delivery solutions for companies of all sizes, with cargo switching between ships and trains in a fast and green way. The […]
• DP World volumes down 3.9% in the first half of 2020 July 28, 2020
  DP World handled 33.9m teu across its global portfolio of container terminals in the first half of 2020, with gross container volumes decreasing 5.3% year-on-year on a reported basis and down 3.9% on a life-for-like basis. Its terminals handled 20m teu on a consolidated level during the first half of 2020, increasing 2.4% on a […]
• Benin Terminal welcomes 300 m container ship for first time July 27, 2020
  Benin Terminal, the operator of the container terminal at the Port of Cotonou, has welcomed a 300 m container vessel, making it the largest ship to have ever berthed at the port. Maersk’s CCNI Arauco has a loading capacity of 8,700 teu and weights more than 100,000 tonnes, sailing under the Hong Kong flag. Thanks […]
• Port authorities urge for crtical relief from US government to manage COVID-19 impact July 27, 2020
  US port authorities have advocated for critical relief to manage the “extremely negative impacts” on the seaport industry brought on by the COVID-19 pandemic as US policymakers begin negotiations on the next coronavirus aid package. Letters have been sent to the US House, Senate and Administration leaders urging them to provide US$1.5bn for seaports to […]
• Australia Maritime Safety Authority initiates campaign targeting loss of shipping containers overboard July 24, 2020
  The Australian Maritime Safety Authority (AMSA) has initiated a focused inspection campaign targeting cargo securing arrangements on container ships visiting Australian ports in response to several recent serious incidents involving shipping containers lost overboard. These incidents include the losses of 81 containers off Newcastle by the YM Efficiency in 2018, 50 containers off Wollongong by […]
• Container volumes down 7% at Port of Rotterdam July 24, 2020
  Container throughput dipped by 7% at the Port of Rotterdam in the first half of 2020, as the COVID-19 pandemic led shipping lines to blank a significant number of sailings. Although carriers cancelled up to 20% of all services in May and June, the decline in volumes was nevertheless less pronounced due to the increased […]
• ICTSI Pakistan welcomes UIG Pendulum service July 23, 2020
  Pakistan International Container Terminal Services (PICT) has welcomed the newly launched UAE-Indian subcontinent-Gulf feeder service (UIG) with an inaugural call at the Port of Karachi. The feeder service is a joint initiative between Abu Dhabi Ports’ Safeen Feeders and Singapore-based Bengal Tiger Line which covers two loops from the UAE to the Indian subcontinent and […]
• P&O Ferrymasters launches consultancy service for data-driven logistics July 23, 2020
  P&O Ferrymasters has launched a specialist consultancy service to help customers manage complex supply chain challenges through data-driven insights. The expansion of its pan-European logistics solutions business will make the company’s in-house expertise available to existing and future customers, offering tailormade advisory solutions. The independent service starts with data cleansing, analysis, modelling and mapping to […]

News from CN – Container News

• Beirut death toll rises as PM vows retribution on those responsible August 5, 2020
  Authorities in Lebanon say that some 2,750tonnes of ammonium nitrate were ignited following a fire at a nearby warehouse where fireworks were stored, causing the massive explosion and subsequent fire that has seen at least 100 people and 4,000 injured crowding Beirut’s hospitals. Vessel tracker Marine Traffic shows the 11,000TEU CMA CGM Lyra currently docked […]
• Bangkok Bridge to get crew change says Hapag-Lloyd August 5, 2020
  Following crew testing on the Bangkok Bridge and the Ital Lirica, Hapag-Lloyd a partner in the Africa-Asia services, the carrier has announced that the Bangkok Bridge has been diverted to the Philippines for a crew change. In an announcement on 4 August the carrier said that the 4,432TEU Bangkok Bridge which is owned by Japanese […]
• New York/New Jersey battens down the hatches for Tropical Storm Isaias August 4, 2020
  The main container terminals in the port of New York and New Jersey have battened down the hatches to prepare for the imminent arrival of tropical storm Isaias. APM Terminals, PNCT, CGT and Maher all closed their inbound gates today between 11:00 EDT and 12:00 EDT to prepare “inclement weather and tropical storm conditions”. The […]
• Updated: Massive explosion rips through the Port of Beirut August 4, 2020
  An explosion at the port of Beirut in Lebanon has caused carnage in the country’s capital. The blast occurred after what appeared to be fireworks seen crackling over the buildings before a massive blast engulfed the surrounding buildings at around 5pm UK time. Security consultancy Dryad Global reports that "local intelligence sources all confirm that […]
• Hapag-Lloyd raises THCs August 4, 2020
  German carrier Hapag-Lloyd has announced new terminal charges that will apply to cargo shipped between Europe and the US. From 1 September terminal handling charges (THC) listed below will apply to all trades, including trades to and from Europe and the US. In addition, the carrier will raise THCs for cargo handled on the routes […]
• Rate recovery and falling fuel costs helps ONE to Q1 profit August 4, 2020
  Falling revenues failed to halt soaring profits at Ocean Network Express (ONE) as the Singapore-based carrier recorded net profits of US$167 million, in the period from April to June 2020, the carriers’ first quarter. Aided by a 20% decline in the price of bunkers and careful capacity management during the peak of the Covid-19 lockdown […]
• FMC monitors lines as SCFI breaks US$3,000 bar August 4, 2020
  Aggressive capacity management by carriers, currently being monitored by the Federal Maritime Commission (FMC), has pushed the US west coast Shanghai Containerized Freight Index (SCFI) into uncharted territory with spot rates breaching the US$3000/FEU barrier for the first time in the history of the index. Impressive discipline from container lines coupled with demand has belied […]
• Mexican container traffic slumps in H1 2020 August 4, 2020
  Container traffic in Mexican ports declined by 11.1% in the first six months of the year as the country battled with the economic fallout of the global pandemic. Total traffic in Mexican ports was down to 3.1 million TEU compared to 3.5 million TEU posted in the same period last year. Ports on the Gulf […]
• Ningbo-Zhoushan takes majority stake in Yangtze River terminal August 4, 2020
  Ningbo-Zhoushan Port has become the largest shareholder of Jiangyin Sunan International Container Terminal as it targets throughput growth. China’s busiest port and the second busiest container port after Shanghai, Ningbo-Zhoushan Port said in a filing to the Shanghai Stock Exchange that it had acquired the Hong Kong-incorporated Paul Y. Corporation, which owns a 40% stake […]
• South Carolina terminals brace for Tropical Storm Isaias August 3, 2020
  South Carolina ports have imposed restrictions on operations starting tomorrow, as they brace themselves for the arrival of Tropical Storm Isaias. Terminal work will begin late tomorrow at the Charleston Marine Terminals and South Carolina Inland Port Dillon. Seven vessels are due to dock at South Carolina ports tomorrow. Inland Port Greer will maintain its […]

News from Tradewinds

• MOL confident VLCC newbuilding is ‘safe’ after sailing from yard struck by coronavirus August 5, 2020
  Owner and yard say tanker was safeguarded before delivery from yard that had shut down operations to stop the spread of coronavirus
• Wavelength: The gas bubble has burst. Long live LNG August 5, 2020
  Headlines highlighting major gas producers' moves to ratchet back LNG projects only tell half the story for shipping
• Three-way China-Taiwan bulk venture gets underway August 5, 2020
  Qingdao-based Shandong Shipping and Taipei's Eddie Steamship are open for business and scouting new tonnage
• Soloi bulker fleet dwindles to two vessels after panamax sale August 5, 2020
  Company co-founded by scion of construction-business family has seen its fleet shrink by two thirds since the start of the year
• MAN Energy Solutions scales back planned redundancies by 35% August 5, 2020
  German engine builder to retain 1,350 staff members after negotiations with employee representatives
• K Line to cut 50 ships by 2025 as it takes $75m Covid-19 hit August 5, 2020
  Japanese owner wants to increase percentage of revenues from long-term business to 60%
• Safe Bulkers suffers loss amid costs of longer voyages to open ports August 5, 2020
  Journey costs skyrocket while flights home for crew prove hard to find
• Ocean Tankers set for hearing on judicial management August 5, 2020
  Decision time looms for two Lim family companies in Singapore High Court
• Dorian LPG claims it's ahead of the curve on emissions compliance August 4, 2020
  The company's emissions record already qualified it for a break on a loan
• Richard Hext is next chairman of Hong Kong Maritime Museum August 4, 2020
  Much-travelled shipping grandee and history graduate offers 'perfect attributes to advance our ambitious plans'

News from The Loadstar

• Asia-Europe misery for shippers: four-week delays, rate hikes and surcharges August 4, 2020
  Shippers from Asia to North Europe face a severe capacity crunch, and carriers are set to add to their misery with mid-month FAK rises and peak season surcharges. NVOCCs have told The Loadstar in the past few days they were experiencing three-to-four-week delays for FAVs (first available vessels) to North Europe, and even longer for the UK. […]
• Fears air freight rates may soar even higher as tech launches loom August 4, 2020
  Air freight rates could see further increases as forwarders report an up-to-four-week wait for ocean freight bookings from China to Europe. While transpacific ocean freight is enjoying more capacity, the westbound trade is expected to get “a lot, lot worse”, which could cause a knock-on effect in air freight as frustrated shippers look to move […]
• Supply chain radar: Hapag-Lloyd – the first cut is the deepest August 4, 2020
  The extent to which capital markets can end up being a casino for supply chain actors has been fully shown by Germany’s Hapag-Lloyd and its share price action in recent weeks. Nothing new? From stock to bond market woes, before its dismal equity performance the spotlight was on the fall and rise of its bigger […]
• Against the odds: Taking a page out of Mainfreight’s book August 4, 2020
  “Well done” is better than “well said”? That’s common wisdom, but who knows really if one can justify its existence without the other. Shining star  The only reason why I haven’t snapped up New Zealand’s Mainfreight (MFT) stock to boost my growth equity portfolio – I own booze maker Campari for that, with a yield […]
• Canada: strike at the port of Montreal update August 3, 2020
  Release from Hapag-Lloyd   Dear Customer, The Maritime Employers Association (MEA) has advised that the Longshoremen’s Union has filed another 72 hour notice of a strike commencing: Monday, August 3rd at 07:00 and ending on Friday, August 7th at 06:59. This strike will affect only Termont Terminal. MGT Terminals will continue to work normally. The […]
• ONE Q1 profit soars 3,000% on 2019, thanks to cheaper fuel and higher rates August 3, 2020
  Japanese carrier Ocean Network Express (ONE) has kicked off the quarterly financial results reporting season with a $167m net profit for April-June. Despite seeing liftings slump by about 20% on its Q1 of last year, to 2.67m teu, the merged carrier’s revenue declined by just 4.8% to $2.74bn, as freight rates spiked in response to […]
• As forwarders help shippers to go greener, they also find it can be cheaper August 3, 2020
  Covid-19 might have put businesses’ environmental concerns on the back burner, temporarily, but the issue is not going away – and increasing numbers of shippers are asking their forwarders for help. “Businesses have a lot to focus on right now,” said Frank Clary, vice president sustainability for Agility. “But coming out of Covid, none of these […]
• Supply chain resilience a top priority, but how do you build it? August 3, 2020
  Covid-19 has renewed focus on supply chain resilience, but despite two-thirds of companies experiencing supply chain disruption, in the past decade only half of them have taken any measures to build resilience. A report published last week by 3D Hubs found that more than 96% of global companies are planning to make resilience a key […]
• Transpac rates at new heights, but reviving blank sailings could muddy the water July 31, 2020
  Transpacific container spot rates to the US west coast have powered over the $3,000 mark to hit a record level of $3,167 per 40ft. The US west coast component of today’s Shanghai Containerized Freight Index (SCFI) soared 17% on the back of 1 August GRIs and is now 100% higher than a year ago. The […]
• Delays at port of Montreal drag on as one strike follows another July 31, 2020
  Disruption at Canada’s port of Montreal has stretched into a fifth day – as longshoremen ended a four-day industrial action yesterday, port checkers launched a one-day strike this morning. The timing of the actions was designed to create maximum impact, said one forwarder. By Thursday afternoon, the longshoremen’s strike had affected about a dozen vessels […]

News from Transport Topics

• Anthony Levandowski Sentenced to 18 Months in Prison August 5, 2020
  Autonomous driving engineer Anthony Levandowski was ordered to spend 18 months in prison for stealing trade secrets from Google as he defected to Uber Technologies Inc., in one of the highest-profile criminal cases to hit Silicon Valley.
• Daimler Appoints Rainer Müller-Finkeldei to SVP Post August 4, 2020
  Daimler Trucks North America appointed Rainer Müller-Finkeldei senior vice president of engineering and technology.
• Oil Jumps as Lebanon Explosion Signals Geopolitical Instability August 4, 2020
  Oil extended its rally and hit a two-week high after an explosion at Lebanon’s main port rocked the capital Beirut, pointing to geopolitical instability in the region.
• Tropical Storm Isaias Drives Wild Weather Up Interstate 95 August 4, 2020
  WINDSOR, N.C. — Tropical Storm Isaias spawned tornadoes and dumped rain along the U.S. East Coast on Aug. 4 after making landfall as a hurricane in North Carolina, where it smashed boats together and caused floods and fires that displaced dozens of people. At least two people were killed when one of its twisters hit […]
• Meritor Reaches Brake Shoe Production Milestone August 4, 2020
  Meritor Inc. recently produced its 100 millionth brake shoe at its Plainfield, Ind., manufacturing facility.
• Wilks Brothers Swoop In With Competing Offer for Calfrac August 4, 2020
  Wilks Brothers has made a competing proposal to recapitalize struggling energy company Calfrac Well Services Ltd. and criticized management’s deal as favoring insiders.
• Eaton Posts Q2 Operating Loss in Vehicle Unit August 4, 2020
  Power management company Eaton Corp. reported sharp drops in net income and revenue in the second quarter as the novel coronavirus pandemic cut vehicle production at key customers.
• Senate Panel to Consider USDOT IG Nominee Eric Soskin August 4, 2020
  President Donald Trump’s nominee to lead the U.S. Department of Transportation’s internal watchdog division is scheduled to appear before a Senate panel Aug. 6.
• Shale Driller Sells Gas Fields for Fraction of Purchase Price August 4, 2020
  Range Resources Corp. is selling its Louisiana shale fields for about one-tenth of what it paid for them just four years ago as depressed natural gas prices hammered the heavily indebted driller.
• FAA Spells Out Design Changes Needed in Grounded Boeing Jet August 4, 2020
  Federal regulators on Aug. 3 outlined a list of design changes they will require in the Boeing 737 Max to fix safety issues that were discovered after two deadly crashes that led to the worldwide grounding of the plane.
• YRC Posts Q2 Declines August 4, 2020
  Losses at YRC Worldwide Inc. widened in the second quarter amid the economic fallout of the COVID-19 pandemic, but the company said federal loans it received under coronavirus relief efforts will help position it to emerge healthier from the downturn.
• DOT Funds Four New University Transportation Centers August 4, 2020
  The U.S. Department of Transportation announced $4.9 million in funding has been awarded to support four new University Transportation Centers.
• Ford to Promote Farley to CEO After Hackett’s Failed Turnaround Bid August 4, 2020
  Ford Motor Co. will promote Jim Farley to CEO on Oct. 1 to replace Jim Hackett, who has elected to retire after his three-year bid to turn around the automaker failed to gain traction.
• Average Price of Diesel Continues to Linger in $2.40s August 3, 2020
  Diesel fell for the third consecutive week, by three-tenths of a cent to $2.424 a gallon.
• Oil Rises With Signs of Economic Recovery Buoying Demand August 3, 2020
  Oil rose the most in nearly two weeks as economic data from the U.S. to Europe and Asia signaled a flicker of life in languishing demand.
• HDMA President, COO Tim Kraus Plans to Retire August 3, 2020
  Heavy Duty Manufacturers Association President Tim Kraus plans to retire early next year, the organization announced Aug. 3.
• Smithfield Goes On Defensive Over COVID-19 Response August 3, 2020
  Smithfield Foods Inc. is defending its efforts to keep employees safe and supply food to the nation during the coronavirus pandemic.
• GM Alleges Fiat Chrysler Spent Millions to Bribe UAW Leaders August 3, 2020
  General Motors is asking a federal judge to reconsider his dismissal of a lawsuit against Fiat Chrysler based on new allegations that FCA bribed union and GM officials.
• Senate Highway Policy Panel Examines Telework’s Potential August 3, 2020
  Work from home? The Senate's highway policy committee sees the environmental benefits of it, even after the COVID-19 pandemic passes. Here's your Capitol Agenda look at the week ahead for trucking on Capitol Hill.
• Patriot Transportation Posts Net Profit on Lower Revenue for Fiscal Q3 August 3, 2020
  Patriot Transportation Holding posted an increase in net income on declining revenue for its fiscal third quarter, the company reported July 29.