Overall capacity operated by the Top 21 container carriers increased 5.6 percent or 847,000 TEUs in the last 12 months, according to industry analyst Alphaliner’s latest newsletter, furthering chronic overcapacity in the container shipping market.
11 Aug 2014
Sunny weather and the beginning of the busy shipping season aren’t the only reasons the Port of Boston is excited about the month of August.
31 Jul 2014
Interim result season is in full swing, and the financial reports reveal carriers in the container-shipping industry searching for a silver lining.
30 Jul 2014
Hanjin Shipping posted a net loss of $194 million in the second quarter, but the weak financial performance was eased by aggressive cost cutting in its container division that managed to lift the Korean carrier’s operating profit.
03 Jul 2014
Hanjin Shipping will rake in almost $300 million from the spinoff of its dry bulk business, allowing the loss-making Korean carrier to remove a significant portion of debt as it continues to restructure the company.
02 Jul 2014
WASHINGTON — U.S. Federal Maritime Commissioners yesterday unanimously voted to allow CKYH partners and Evergreen Line to discuss cooperating in the trans-Pacific and trans-Atlantic trades.
24 Jun 2014
The worst is over for the Asia-Europe container trade as slow-steaming and scrapping of old vessels begin to address excess capacity, according to a recent report from HSBC’s transport analysts.
17 Jun 2014
The rejection of the P3 shows how dominant the world’s largest carriers were set to become if their proposed mega-alliance took effect.
02 Jun 2014
Longshoremen engaged in illegal work slowdowns at the Port of Portland from September 2012 to June 2013 as they were contesting jurisdiction for jobs handling refrigerated containers, a National Labor Relations Board administrative law judge ruled at the weekend.
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.
30 Apr 2014
Hanjin Group took a major step towards shoring up its financially shaky foundation yesterday with a shakeup of the group’s shareholding structure and the appointment of chairman Cho Yang-ho as the CEO of South Korea’s largest shipping line.
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.