In the wildly unstable ocean cargo carrier arena, three major consortia are fighting for market share, with some players simply hanging on for survival. Meanwhile, shippers may expect deployment shifts as a consequence of the Panama Canal expansion.
More container cargo moving with NVOCCs
Approximately 37.5 percent of imports to the United States were contracted by non-vessel operating common carriers in the first quarter of 2016, according to research firm Datamyne.
Container lines’ costs jump on tougher green fuel rules
Ocean carriers’ operating costs increased by $500 million in 2015 due to tougher fuel emissions regulations for ships sailing in North European and North American waters that came into effect last year, according to the Organisation for Economic Co-operation and Development. (This article requires registration at the Journal of Commerce. To access, please click on […]
Transportation Services Index tumbled in March
The combined Transportation Services Index (TSI) in March was tabulated at 121.3, down 0.5 percent from February’s level and 0.9 percent from March 2015’s mark, according to the U.S. Department of Transportation’s Bureau of Transportation Statistics (BTS).
Hapag-Lloyd and Asian lines form six-member alliance
Six container lines left out of two global alliances have set up a third group as the industry finally settles most of the outstanding uncertainties about who will team up with whom.
U.S. Imports See Steady Climb, But Not Likely to Reach 2015’s Record Numbers
Import cargo volume at the nation’s major retail container ports has begun its annual climb toward summer levels but is expected to be largely flat when compared with last year’s record high numbers, according to the monthly Global Port Tracker report released today by the National Retail Federation and Hackett Associates.
New ocean cargo carrier alliance is planned
In a widely anticipated move, yet more ocean cargo carrier consolidation was announced in Singapore today. According to spokesmen for the newly-formed group, “Ocean Alliance,” CMA CGM, COSCO Container Lines, Evergreen Line and Orient Overseas Container Line have signed a memorandum of understanding to form a consortia covering the Asia-Europe, Asia-Mediterranean, Asia-Red Sea, Asia-Middle East, […]
Hapag-Lloyd and UASC in merger talks
Hapag-Lloyd and United Arab Shipping Company are in merger talks, in a surprise move that will accelerate consolidation in the troubled container shipping industry. Hapag-Lloyd would have a 72 percent stake in a merged carrier, while Dubai-based UASC, which is owned by six Arab Gulf states, would own the remainder, the German carrier said. (This […]
China Halts Export-Subsidy Program, U.S. Says
China has ended a complicated incentive program that effectively subsidized its exports, a year after the U.S. filed a challenge with the World Trade Organization, officials said. (This article requires a subscription to the Wall Street Journal. To access, please click on the above link.)
Despite traffic decline, Virginia sets new records in March
The Port of Virginia set a new record in March for the amount of rail cargo handled in a month, despite a decline in overall containerized volume in the month.