East and Gulf Coast ports have been winning the market share battle in the U.S. containerized ocean trade since 2008. What happened?
It was one up and one down for China’s two largest carriers as China Cosco Holdings reported net profit tumbling 46 percent, while China Shipping Container Lines (CSCL) stepped back into profitable territory.
Officials at the Panama Canal are working their way through a significant vessel backlog after an “unusual” increase in the number of ships awaiting transit began to back up on either side of the waterway weeks ago.
For U.S. West Coast ports, 2015 was going to be a year to solidify market share in the competitive U.S. container trades as ports on the East Coast prepared for completion of the Panama Canal expansion project. Instead, the first quarter of 2015 has been a nightmare for West Coast ports, with crippling congestion, an unsettled labor contract and declining container volumes.
The Indian federal government has approved a special-purpose company with equity participation of all major ports to implement rail connectivity projects aimed at improving supply chain services.
Hapag-Lloyd, Germany’s biggest container line, slumped to a net loss of 603.7 million euros [$652 million] in 2014 largely due to the one-off cost of acquiring and integrating Chilean carrier CSAV.
The slow season continued to exert its negative influence on spot rates across major east-west trades, with Asia-Mediterranean leading the way down this week and hitting lows not seen since October 2013, according to the latest reading of the Shanghai Containerised Freight Index (SCFI).
A year before its scheduled completion of a $5 billion-plus expansion, the Panama Canal Authority is discussing the idea of building even larger locks to allow head-to-head competition with the Suez Canal.
The Nigerian government has closed its ports, including Lagos, and land borders, and won’t open them until midnight Saturday to allow for “the peaceful conduct of the (presidential) elections.”
Maersk Line has kick started its $15 billion ship investment program with its first order in more than four years for seven ice-class container vessels.
Gulftainer’s goal to triple volume over the decade through aggressive investment came a step closer in 2014 after the terminal operator increased handling 8 percent year-over-year.
The Port of Virginia is shifting three rubber-tire gantry cranes to the newly reopened Portsmouth Marine Terminal to handle overflow from larger terminals, and expected to have two of the yard cranes ready for use today.
Members of Baltimore’s largest International Longshoremen’s Association voted to end 18 months of uncertainty b