Maritime News

Operations at ports on the Virgin Islands and Puerto Rico were shut down Thursday as the eastern Caribbean awaited the arrival of tropical storm Erika.

Port Tampa Bay's CEO Paul Anderson at TPM 2015.
Port Tampa Bay CEO Paul Anderson on the maritime trade industry's recent labor contract issues on the West Coast and the need for more influence on Capital Hill.

The listed units of China’s two largest shipping lines reported their interim results today with wildly diverging profits achieved by the two state-owned carriers in the first six months of the year.

Pearl River Delta specialist carrier Chu Kong Shipping Enterprises has reported first half net earnings up 16 percent year-over-year, following on from its healthy 14.6 percent annual profit earned in 2014.

It is common knowledge by now that shippers and carriers benefit from the lower transportation costs that large container ships offer, but a new report makes a strong argument that mega-ships are significantly reducing the carbon footprint of ocean shipping.

The G6 Alliance is starting a new service from Asia to Sweden, a sign that there are some bright spots on the ailing Asia-Europe trade lane.

Hapag-Lloyd’s integration with CSAV dominated the new entity’s first-half results, with the group posting $180 million in net profit and a 45 percent increase in revenue compared to the first six months of last year.

The G6 Alliance has withdrawn two more sailings on the Asia-Europe trade as the alliance has blanked 16 sailings in the past three months to staunch the bleeding in the trade’s freight rates.

Bunker fuel prices in Singapore, the world's biggest bunkering port by sales volumes, fell to their lowest point since 2005, giving container lines suffering from low Asia-Europe spot rates a dose of good news.

China’s two main shipping lines and its second largest container port operator have neatly sidestepped the stock market rout of mainland stocks with their shares remaining suspended on the Shanghai and Hong Kong exchanges.