In the latest instance of drayage-related disruption, violence flared at Ningbo’s Beilun Container Port as thousands of striking truck drivers clashed with riot police and smashed the windshields of trucks crossing a picket line. The past week’s protests brought the world’s sixth-largest container port to a standstill, with carriers reportedly diverting ships.
15 May 2014
An aggressive focus on operating efficiency is reflected in the first quarter results of Neptune Orient Lines, Hanjin and Hapag-Lloyd, although the savings were not enough to offset the effects of excess capacity, high bunker prices and weak freight rates that continue to plague the industry.
01 May 2014
A temporary space shortage on the trans-Atlantic is looming thanks to implementation of the G6 Alliance in that trade lane.
24 Apr 2014
Hapag-Lloyd’s largest individual shareholder, Klaus-Michael Kuehne, said the carrier should team up with another line after its forthcoming merger with Chile’s CSAV so it can compete more effectively with the world’s top three carriers.
23 Apr 2014
What is today a small club of carriers operating or having ordered 18,000-TEU ships or larger is likely to grow, but not necessarily overnight, as carriers intensify their focus on reducing costs without regard to greater market or infrastructure implications.
08 Apr 2014
The 2013 financial reporting season for container lines ended for many carriers in a sea of red ink as high bunker prices and weak freight rates combined to drag down profits.
03 Apr 2014
WASHINGTON – The U.S. Federal Maritime Commission yesterday unanimously voted to allow the G6 Alliance to expand into the Asia-U.S. West Coat and trans-Atlantic routes.
12 Mar 2014
Carriers’ schedule reliability from Shanghai to Oakland, Calif., showed the greatest variation in eastbound Asia-to-Southern California route performances...
05 Mar 2014
NOL Group will return to profit this year by concentrating on its core Transpacific business and reaping the benefits of its sizeable port holdings, according to one equity analyst firm.
03 Mar 2014
Vessel capacity is exaggerated but container ship lines continue to struggle to raise rates to cover costs and meet service demands, carrier executives told the JOC’s 14th annual TPM conference.
20 Feb 2014
The six members of the G6 – Hapag-Lloyd, NYK Line, OOCL, Hyundai Merchant Marine, APL and Mitsui O.S.K. Lines – today released details on the port rotations...
20 Feb 2014
NOL Group posted a fourth quarter loss of $137 million, which was $46 million bigger than the $91 million loss in the same period last year, as revenue from its container shipping business was hit by overcapacity and falling freight rates.