Swedish furniture maker IKEA has decided it will make Incheon port its primary South Korean gateway after it began testing out Incheon New Port Phase 1-1 container pier (Terminal B) in July.
Russian containerized rail companies are cutting their fleets this year and plan to do the same next year, as the country’s trade suffers from Western sanctions and the low price of oil.
The imminent suspension of several liner services between Asia and the U.S. East Coast and South America during the slack shipping season threatens to put as many as 50 Panamax container ships out of work by January, according to Alphaliner.
Hutchison Ports Australia (HPA) and the Maritime Union of Australia (MUA) today agreed to extend conciliation talks until November as both sides try to find a way out of a bitter dispute that exploded after 97 workers were fired in early August.
The container shipping industry is facing three more years of overcapacity and financial pain because of slowing global trade and a bloated order book of large vessels, forcing Drewry to slash its growth forecast for 2015 and revise down estimates for future years.
Container line APL has launched a weekly service connecting North Asia markets with the U.S. West Coast using U.S.-flagged vessels in a speedy transit that will be controlled by the carrier from end-to-end, including the rail link to inland destinations.
Those in the U.S. surface transportation sector can buckle up for more of the same, so long as the national economy continues to creep along at its current pace.
FedEx founder, CEO and Chairman Fred Smith expects some of the cargo diverted from congested West Coast ports to remain moving through other entry points as shippers diversify their supply chains.
Hyundai Merchant Marine said it will spin off its dry bulk division and its two U.S. West Coast container terminals as the Korean company seeks to bolster liquidity at its core container shipping business.
A Trailer Bridge triple-deck barge broke loose from the tug that was towing it from San Juan to Jacksonville, Florida, last weekend during the same hurricane that claimed TOTE Maritime’s El Faro.