While the ocean shipping market has largely normalized after COVID-19, stakeholders would be wise to pursue a business strategy that takes operationally disruptive events into account, writes analyst Lars Jensen.
Breakbulk shippers and logistics providers have several proposals for changes to ISPM 15 mitigation and enforcement measures pending approval from the USDA’s Animal and Plant Health Inspection Service.
Longshore workers represented by ILWU Local 13 are refusing to stagger their meal breaks at the ports of Los Angeles and Long Beach, resulting in periods when no work is being done on the docks, says the Pacific Maritime Association.
In addition to long-haul passenger aircraft with significant belly freight capacity coming back into service to capture growing travel business, several airlines are adding freighters to the major trade lanes.
As the US West Coast’s share of import TEU has fallen in recent years, analyst Larry Gross notes there is an important difference between declines due to sourcing location changes and declines due to loss of share by region.
February marked the sixth consecutive month of year-over-year declines in Asian imports, but those declines are being compared with the record or near-record import volumes that were posted in late 2021 and early 2022.
The bill would heighten transparency into regulatory penalties levied against ocean carriers and marine terminal operators and draw a sharp line on the involvement of China-based entities in US shipping.
Shippers face tough decisions over whether to lock in contract rates that are higher than spot rates. But holding off... Related StoriesGreek-owned fleet suffers rare dip in strengthCapital Product Partners signs $34m charter with ONECapital Product Partners signs new $34m charter with ONE
‘Step in right direction’ says Reed Smith, while HFW brands changes ‘a big deal’ Related StoriesShip recycling supply falls on charter rates improvementsEuronav’s future hangs in the balance ahead of shareholder showdownWelcome aboard, UBS!
Improving charter rates in the dry cargo sector has begun to reduce the supply of tonnage destined for shipbreaking yards Related StoriesOwners should welcome Greek maritime law shake upEuronav’s future hangs in the balance ahead of shareholder showdownWelcome aboard, UBS!
Deal brings charter coverage to 96% for 2023 and 2024 Related StoriesGreek-owned fleet suffers rare dip in strengthShippers face conundrum over container freight contractsCapital Product Partners signs new $34m charter with ONE
Huge profits earned by shipowners have lessened lending needs but finance for retrofitting vessels to manage greenhouse gas emissions targets... Related StoriesGreek-owned fleet suffers rare dip in strengthShippers face conundrum over container freight contractsCapital Product Partners signs $34m charter with ONE
Momentum is growing behind electronic bills of lading. But full adoption will not be possible without public sector support Related StoriesGreek-owned fleet suffers rare dip in strengthShippers face conundrum over container freight contractsCapital Product Partners signs $34m charter with ONE
Trailblazing containership is expected to use very low sulphur fuel oil until arrangements have been made for the regular sourcing... Related StoriesGreek-owned fleet suffers rare dip in strengthShippers face conundrum over container freight contractsCapital Product Partners signs $34m charter with ONE
Latest sales bring tally of containerships sold this year by container line operator to eight vessels, as the Taipei-based company... Related StoriesGreek-owned fleet suffers rare dip in strengthShippers face conundrum over container freight contractsCapital Product Partners signs $34m charter with ONE
No casualties or oil leak has been reported. Vessel is restricted from leaving the port even though it ‘maintains perfect... Related StoriesGreek-owned fleet suffers rare dip in strengthShippers face conundrum over container freight contractsCapital Product Partners signs $34m charter with ONE
It remains to be seen whether UBS will see shipping as ‘strategic’ or ‘non-core’ Related StoriesThe week in charts: Russia’s bulk exports to Europe drop 60% | Boxship recycling dominated by feeder ships | US-sanctioned ships don’t lose flag for longThe week in charts: Russia’s bulk exports to Europe drop 60% | Boxship recycling dominated […]
The Port of Antwerp-Bruges has begun offering Routescanner’s Direct Connections on its website, enabling shippers of freight forwarders to compare possible routes for container shipments. Then platform shows all available connections to Antwerp and Zeebrugge and can also instantly calculate a route’s CO2 emissions. Routescanner’s Direct Connections plug-in will replace the connectivity platforms on the […]
Dublin Port Company has commenced formal public consultation on the 3FM Project, which aims to deliver 20% of the port’s ultimate and final capacity required by 2040. Focused on the Poolbeg Peninsula, located on the south side of the bay, the 3FM project includes the development of the largest container terminal in Ireland and six […]
Maersk has announced the inaugural flight of its air freight service with scheduled flights between Billund, Denmark (BLL) and Hangzhou, China (HGH), as it looks to add supply chain agility. The scheduled Eurasia operation commences on March 20 with three weekly flights introducing the first of three newly converted Boeing 767-300 freighters that have recently […]
Lineage Logistics, LLC, has expanded its cold storage facility in the Port of Aarhus, Denmark, bringing its total pallet spaces to 27,500. Having added 18,000 pallet spaces, the increased capacity will provide customers – including producers of fish and shellfish – with streamlined storage for their products at a key location. Cartsen Wolf, regional vice […]
The Port of Los Angeles (LA) has entered into separate Memorandum of Understandings (MoUs) with both the Port of Tokyo and the Port of Yokohama to more formally collaborate on sustainability and environmental issues. Signed during the 2023 California Japan Clean Energy Trade Mission, the MoUs with the two ports call for cooperation and sharing […]
PSA International delivered a 13% increase in net profit last year, totalling S$1.6bn (US$1.2bn) as business acquisitions and higher storage income outweighed a slight drop in volumes. The operator handled 90.9m teu across its portfolio representing a 1% drop, with PSA Singapore contributing 37m teu and its overseas facilities handling 53.9m teu, both down 1%. […]
Ocean Network Express (ONE) has ordered 10 new large container vessels with a carrying capacity of over 13,700 teu to be delivered in 2025 and 2026. This new order is in line with the company’s medium-term strategy, announced in March 2022, and follows 10 vessels ordered in May 2022. ONE aims to strengthen its fleet […]
Hutchison Ports has announced it will invest a combined US$700m in two new Egyptian container terminal projects in Ain Sokhna Port and in the Port of Alexandria. The investment includes the development of a new container terminal in Ain Sokhna Port with a capacity of 1.7m teu, which will offer new technology and equipment to […]
Baltic Hub has commissioned Liebherr Container Cranes to retrofit a hybrid green energy storage solution on one of its rubber-tyred gantry (RTG) cranes. The terminal, formerly known as DCT Gdansk, has 18 Liebherr RTGs at the port and the initial purchase will allow it to assess the technology with a view to further retrofitting its […]
PSA Halifax has ordered eight new electric rubber-tyred gantry (E-RTG) cranes from Konecranes for its Atlantic Hub terminal. This purchase will expand the terminal’s handling capacity by 25% and is part of PSA’s efforts to electrify its equipment fleet, aiming to meet its sustainability and decarbonisation objectives. The new E-RTGs will arrive by the second […]
Carrier Transicold has added an expanded range of oxygen (O2) setpoints to its EverFRESH active controlled atmosphere (CA) system for refrigerated containers. It is hoped that the latest software release will help shippers transport a wider range of perishable goods, including high-value produce such as kiwis and plums, to farther and new locations. The EverFRESH […]
The Port of Savannah handled nearly 395,000 teu in February, marking its second busiest February ever after 2022 according to the Georgia Ports Authority (GPA). Having handled 460,400 teu in the same period last year, port officials said that inflation, rising interest rates and high warehouse inventories are important factors in the container trade dip. […]
Independent shipping platform Shipnext has developed a new emissions index, in an effort to address industry concerns about the International Maritime Organization’s (IMO) emissions reduction measures. Carriers including Maersk have complained that the IMO’s Carbon Intensity Indicator (CII) rating fails to incentivise cargo optimisation, and have instead called for a methodology that rewards more productive […]
CMA CGM has launched its new BIGEX service, which offers Bangladesh and India a direct connection with the Gulf. Utilising a fleet of three vessels of 1,700 teu, the new weekly service will begin with m/v HONG AN that is estijmated to arrive in Chittagong, Bangladesh in early April. CMA CGM noted that sea trade between […]
The Oakland Board of Port Commissioners approved an environmental ordinance, requiring that tenants which operate cargo-handling equipment (CHE) create a plan for converting CHE to zero-emissions. Barbara Leslie, port board president said: “This ordinance calls for our seaport tenants to develop a plan to reach zero emissions from cargo-handling operations. It’s a commitment to Oakland […]
The UK Major Ports Group (UKMPG) has appointed former UK government special adviser Geraint Evans as the organisation’s new CEO. Having served as a special adviser under three consecutive prime ministers – David Cameron, Theresa May and Boris Johnson –Evans will join the UKMPG in May from the global consulting firm, Stonehaven where he was […]
PSA Mumbai has announced a partnership with O2 Power for the development of a 6.25 MW solar farm, which will power the terminal with renewable energy. The solar plant will be commissioned by the end of 2023. When completed, it will provide nearly 70% of PSA Mumbai’s power, reducing the terminal’s CO2 emissions by a […]
Blockchain-based platform Global Shipping Business Network (GSBN) has collaborated with COSCO Shipping, Orient Overseas Container Line (OOCL), and the Shanghai Research Institute of Chemical Industry Testing (SICIT) to achieve a proof-of-concept in utilising blockchain technology to safely transport chemical cargo. For the carriers and subsequent transportation companies in the supply chain, hard copies or scanned […]
Pusan Newport Corporation (PNC), a subsidiary of DP World, has commenced work to integrate Boxbay’s high bay storage (HBS) system, making the terminal in Busan the first in the world to implement the technology. PNC and Boxbay FZCO – a joint venture between DP World and German plant technology supplier, SMS group – have signed […]
Elme Spreader has launched three new models in its Innovation series, hoping that a new design will deliver increased structural strength and reduced weight, thus increasing the life expectancy compared to previous generations. The 818, 818WTP and 857 spreaders are estimated to have an increased life expectancy of 30 % related to fatigue resistance and […]
Capital Product Partners, a global ship owner, has agreed a new time charter for the 9,288 TEU container vessel Akadimos which was built in 2015 by Daewoo-Mangalia Heavy Industries, with a major liner company. The charter for the boxship is expected to commence in the second quarter of 2023 in direct continuation of its present […]
The Maltese-flagged oil/chemical tanker Greta K suffered a fire outbreak on board and went adrift at approximately 15:30 (UTC) on 21 March, about 1.5 miles off the coast, roughly 3 kilometers from Ingleses Beach in Foz do Douro, Portugal. According to Maritime Bulletin, the fire broke out in the engine room. Tugs were dispatched and […]
South Carolina Ports (SC Ports) saw higher-than-average container traffic at the Port of Charleston in February as the state continues to attract new business. SC Ports has processed roughly 1.8 million TEUs and 978,374 pier containers so far in the fiscal year 2023, translating to a 5% decrease from the same period last year. Furthermore, […]
Orient Overseas (International) Limited, the parent company of Orient Overseas Container Line (OOCL) announced the full-year results for 2022, reporting revenue of US$19.82 billion. In addition, the company's earnings before interest and taxes (EBIT) rose to US$10.089 billion, while earnings before interest, taxes, depreciation and amortization (EBITDA) reached US$10.95 billion. Meanwhile, the profit attributable to […]
Damen Shipyards Group has revealed that its Triton Internet of Things (IoT) platform has received Bureau Veritas (BV) Type Approval Certification for Cyber Resilience. The system collects all practical asset data accessible from a vessel and its engines, pumps, hydraulics, alarms, and other machinery, totalling over 10,000 signals for a single vessel. This is then […]
Cargo Incident Notification System (CINS), Confidential Human Factors Incident Reporting Programme (CHIRP), Container Owners Association (COA), International Cargo Handling Coordination Association (ICHCA) and Ship Message Design Group (SMDG) inked a Memorandum of Understanding (MOU) on 16 March for cooperation on the safety and security of global trade. The shipping industry bodies share a common goal […]
The joint venture established by the companies Grimaldi Euromed S.p.A., Minoan Lines S.A. and Investment Construction Commercial And Industrial S.A. (EKEV SA) signed an agreement with the Hellenic Republic Asset Development Fund for the purchase of a majority stake of 67% of the share capital of the Igoumenitsa Port Authority (IPA S.A.) for a total […]
The 6,763 TEU container ship Hyundai Tokyo hit pier 77 of the port of Kaohsiung in Taiwan on Monday (20 March), causing damage to the quayside of the port. The vessel, which also suffered hull cracks, was sailing fully loaded from the port of Ningbo in China to the island’s largest port. According to the […]
Mizuho Bank's industry research division predicts that demand for maritime container transport will fall in 2023 in a study on current supply and demand trends and short-term forecasts in key industries. Mizuho Bank believes that box movement will be slower in 2023, especially in the Asia-Europe and Asia-North America trades, due to declining consumption and […]
Dublin Port has opened a formal public consultation on the 3FM Project, the third and final Masterplan project required to finish the growth of the Irish port and bring it to its ultimate and final capacity by 2040. The 3FM project will produce 20% of the capacity needed by 2040 by focusing on Dublin Port […]
Minnesota Gov. Tim Walz signed legislation to crack down on catalytic converter theft in the state, the latest in a series of moves by state lawmakers to help residents combat what has become a nationwide problem.
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A European-based component supplier to Volvo Trucks North America is locating its new North American headquarters near the vehicle maker’s production factory in Virginia’s New River Valley — a move that the state’s governor praised for bringing a jolt to the region’s business community.
Truck tonnage in February increased 2.3% when compared with the same month in 2022 according to American Trucking Associations’ For-Hire Truck Tonnage Index, marking the 18th straight year-over-year gain and the largest since October.