With Korean ocean carrier Hanjin Shipping, the seventh largest ocean liner in the world that handles roughly 7% of U.S.-Asia cargo, filing for bankruptcy earlier this week, what happens next in regards to what happens to the cargo that was moving on Hanjin vessels at that time, as well as its subsequent short-term impact on […]
Saudi Arabia and Russia agreed on Monday to cooperate in world oil markets, saying they will not act immediately but could limit output in the future, sending prices higher on hopes the two top oil producers would work together to tackle a global glut.
With 13 of the top 20 container lines reporting combined losses of $2.5 billion in the first half alone, industry losses will likely range from $8 billion to $10 billion for the full year, according to Lars Jensen, CEO of SeaIntelligence Consulting.
The idle container ship fleet is back to more than 1 million 20-foot-equivalent units after a brief dip in July, with rising unemployment impacting all vessel sizes, Alphaliner said. There were 296 unemployed ships of more than 500 TEUs with a total capacity of 1.02 million TEUs, equivalent to 5 percent of the total fleet, […]
Recognizing the importance of labor stability in the face of growing competition from Canadian and East Coast ports, the International Longshore and Warehouse Union will call delegates to San Francisco Aug. 10 to 12 to consider a vote on launching early talks with West Coast employers to extend the current coastwide contract beyond its July […]
Beneficial cargo owners who question if the Port of Long Beach will have access to sufficient, affordable power while building a zero-emission harbor should rest assured that the second-largest U.S. port is already well-along in achieving that goal. (This article requires registration at the Journal of Commerce. To access, please click on the above link.)
The global refrigerated ocean transportation market is forecast to grow steadily at a compound annual growth rate of about 4 percent from 2016 through 2020. Perishable fruits and vegetables, fish and other food products account for most of containerized refrigerated shipments. But other goods, including temperature-controlled chemicals, medicine, pharmaceuticals and floriculture products increasingly are migrating […]
Import cargo volume at the nation’s major retail container ports should see a small but significant increase this month as merchants stock up for the back-to-school season, then see a larger wave in late summer and fall for the holiday shopping season, according to the monthly Global Port Tracker report released July 12 by the […]
U.S. business logistics costs rose at a slower rate last year as supply chain transparency continued to grow in importance, according to the the Council of Supply Chain Management Professionals’ Annual State of Logistics Report released June 21.
The Panama Canal expansion is set for late June and may soon be attracting more inbound vessel calls to the East and Gulf ports. In the meantime, trans-Pacific trade is still keeping market share clearly concentrated on the West Coast.
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