The rough Asia-Europe trade market and tit-for-tat sanctions between Russia and the West had a devastating impact on the Port of Hamburg’s throughput in 2015 by causing it to lose its status as the second-busiest port in Europe.
Maersk Group’s 2015 profit tumbled 82 percent to $925 million as record low freight rates and a write down in the value of its oil assets savaged the Danish shipping giant’s annual earnings.
The Agriculture Transportation Coalition said a new international container weight verification rule threatens U.S. exporters with lost business and supply chain “turmoil,” and warrants a congressional inquiry.
Container traffic at the Port of Oakland in January soared 38.5 percent compared to January 2015, indicating the market share that the Northern California port lost during the coastwide labor disruptions last year has been regained.
Roadrunner Transportation Systems is adding less-than-truckload network capacity in Texas and Memphis and offering a guaranteed delivery service to expand business with industrial shippers.
Damco posted a $19 million profit in 2015, reversing a 2014 loss of $293 million in what Maersk Group CEO Nils Andersen called “an early sign” that the forwarder’s two-year turnaround program is working.
Amazon’s ambitions to take more control of its container shipping have become more apparent after the e-commerce giant filed an application with the Shanghai Shipping Exchange to be forwarder on 12 major routes and a 2013 internal proposal reveals its vision for a global delivery network.
Maersk Line, Mediterranean Shipping Co. and more than a dozen other carriers will revise their pricing practices to avoid fines and end an EU antitrust suit and investigation, people familiar with the matter told Reuters.
APM Terminals reported a 27.3 percent drop in net profit for 2015 as its container throughput declined by 5.9 percent because of divestments and weak volumes in some markets, parent A.P. Moller-Maersk Group said.
China Merchants Group plans to build a new outer seaport on the basis of the existing Klaipeda seaport in Lithuania, one of the largest seaports in the Baltics, while investing in in Klaipedos Smelte, the largest loading company in the port, according to recent statements from Arturas Drungilas, director of marketing and general affairs for the Klaipeda seaport.
A new retail services division and steady automotive demand helped push Pilot Freight revenue higher last year despite falling fuel surcharges and a sluggish economy.
Container shipping demand and capacity are matching up better after the latter greatly outpaced the former in the last three months of 2015, but it’s too soon to tell if the improvement will hold, said Nils Smedegaard Andersen, CEO of Maersk Group.
Jawaharlal Nehru Port Trust, India’s biggest, public, container handler, has relaxed conditions set earlier for using its “direct port delivery” facility for clearance of import cargo from its own terminals.