Navios Maritime Partners, the NYSE-listed Greek dry bulk and container ship-owner, restated its focus on the container sector as it reported lower first quarter income.
The export growth rate of emerging markets in the last 20 years will not be seen in the next two decades as rising wages make outsourcing less attractive and new technologies such as 3D printing start to gain more traction, according to researchers.
There is little sign of China’s factories ramping up production for the mid-June start of the peak ocean shipping season as factory activity stumbles to its lowest level in a year.
Increasing cooperation between Hamburg Sud and carriers in the Ocean Three Alliance suggests it “seems only a matter of time” before the German container line joins the alliance, Drewry Container Insight said in a speculative commentary this week.
Eco Flow, a Southern California harbor trucking company backed by a venture capital firm in Los Angeles, on Monday announced with the Teamsters union the formation of a motor carrier with employee drivers.
Matson’s first quarter operating income quadrupled from a year earlier as the carrier’s niche China-to-U.S. West Coast service continued to benefit from delays afflicting other trans-Pacific carriers.
Trans-Pacific ocean carriers have been digging in their heels to get rate increases in their 2014-2015 trans-Pacific ocean contracts and have been getting increases in some cases, especially on routes from Asia to East Coast ports. But rates negotiated for shipments from Asia to West Coast ports have been flat or lower than last year in some cases when bunker fuel surcharges are included in the rate.
Mark Michaels has been named senior vice president and chief commercial officer at chassis lessor TRAC Intermod
Noting what could be the “new normal” at the ports of Los Angeles and Long Beach, the Marine Exchange of Southern California said Monday there were no container ships at anchor, and none are expected to stop at anchor on Tuesday, either.