With the exception of Zim Integrated Shipping Services, all traditional east-west carriers now are entrenched in alliances that cover all three east-west trades. That’s never happened, and, although the day-to-day impact may not be noticeable, it represents the next stage in the war for survival among carriers, and could have wider impact on the pricing of services.
An overview of container trade, container lines and shipping line news.
News & Analysis
19 Sep 2014
Multiple container lines have planned general rate increases in numerous trade lanes in October, although any gains achieved could be temporary as overcapacity and sluggish global demand continue.
19 Sep 2014
Spot rates on the Asia-northern Europe trade plunged below $1,000 for the first time since March as September GRIs continued to slide, according to the latest Shanghai Containerized Freight Index.
18 Sep 2014
Maersk Line and Mediterranean Shipping Co. today released the 2M Alliance’s tentative 2015 east-west network, including port rotations, arrivals and departures and transit times.
18 Sep 2014
The global carrying capacity of container ships will grow by just shy of 5 million TEUs by the end of 2016, but the trend toward ordering larger ships means the number of vessels will not grow significantly, according to a Deutsche Bank shipping report.
17 Sep 2014
The cost of shipping a 40-foot container from Hong Kong to Los Angeles declined this week, with rates losing all gains brought on by a Sept. 1 general rate increase.
16 Sep 2014
A $400 million loan necessary to complete the $5.3 billion Panama Canal expansion project has been received by the engineering consortium responsible for widening the canal, according to the Panama Canal Authority’s lead administrator, Channel News Asia reported.
14 Sep 2014
Container freight rates will stabilize and may trend upward over the next few years despite the existing overcapacity of vessel space because of the expansion of existing carrier alliances and the creation of new ones, according to Rolf Habben Jansen, CEO of Hapag-Lloyd.
10 Sep 2014
After gaining ground thanks to general rate increases in the first week of September, the Drewry benchmark rate from Hong Kong to Los Angeles dropped $100 per container this week.
09 Sep 2014
Maersk Line has a clearly defined strategy for expansion in global trades, but is being very cautious about not disclosing it.
08 Sep 2014
The $5.25 billion expansion project to allow larger vessels to traverse the canal is nearly 80 percent complete.