Speculation has been rife in the Singapore media about a possible tie-up between Neptune Orient Lines (NOL) and fellow G6 Alliance member Hong Kong’s Orient Overseas International Ltd. (OOIL), but a closer look at the business of the two carriers reveals that merging their operations would create little synergy.
25 Mar 2015
Trans-Pacific spot rates fell 9 percent from last week to a 12-month low amid continuing congestion at U.S. West Coast ports, according to the container freight rate benchmark published by Drewry Maritime Research.
20 Mar 2015
Spot rates continued to tumble on the major east-west trades this week with the Asia-Europe price per 20-foot container hitting $620, its lowest rate in more than 18 months, according to the latest reading of the Shanghai Containerised Freight Index (SCFI).
13 Mar 2015
U.S. shippers importing goods from Asia to the West Coast are paying more in the spot market for ocean shipping but getting worse service in return, a function of carriers’ pricing power gained from strong demand and the effects of the congestion.
11 Mar 2015
Carriers in the trans-Pacific eastbound market are hoping to leverage robust volumes, higher spot rates and the disruption tied to the recent U.S. West Coast labor standoff to achieve higher rates in annual contracts with shippers that take effect on May 1.
09 Mar 2015
Planned mid-March general rate increases on Asia-Europe stand little chance of sticking as the container shipping industry enters the slow season seemingly powerless to arrest declining spot rates on the trade.
01 Mar 2015
Cargo interests undoubtedly are relieved that the International Longshore and Warehouse Union and the Pacific Maritime Association reached a tentative contract deal on Feb. 20 after more than nine months of unexpectedly difficult negotiations, but now it’s time for importers and exporters to reassess their commitment to West Coast ports.
28 Feb 2015
The economic fundamentals of the trans-Pacific trade are strengthening, setting the stage for what would normally generate rapid growth in container volumes, especially in the eastbound trade. But this isn’t a normal year.
24 Feb 2015
Los Angeles-Long Beach will always be a vital U.S. gateway, but the nine-month labor dispute that helped bring West Coast ports to the brink of being shutdown is making shippers and industry analysts take a hard look at the trans-Pacific supply chain.
16 Feb 2015
The falling oil price is having a talismanic effect on the cargo shipping industry, boosting consumer spending, raising U.S. demand for China imports and improving the profitability of container lines, research from Barclays has found.
13 Feb 2015
Neptune Orient Line’s container division APL recorded a before tax loss of $37 million in the fourth quarter as the U.S. West Coast port congestion saw volumes fall and forced the carrier to cut sailings on its most important trade.
13 Feb 2015
The U.S. East Coast spot rate hit $5,049 per FEU this week as rising demand for the all-water service pushed rates to record levels, according to the latest reading of the Shanghai Containerized Freight Index (SCFI).