Maritime News

“It is a historic day – a day for removing barriers,” proclaimed U.S. Secretary of State John Kerry on July 20, as Cuba and America reopened their embassies and ended a 54-year diplomatic stalemate.

HONG KONG — Australia is preparing for a free trade agreement with its largest trading partner China that is se


Asia-Europe spot rates more than doubled this week, hitting highs that haven’t been seen in months and giving carriers a much-needed glimmer of hope.

Japan’s three largest container lines saw their net profits surge in the first quarter of fiscal 2015, buoyed by brisk container traffic volume from Asia to the United States as well as a weaker yen and lower fuel prices.

Although U.S. consumer spending is still lagging its potential this year, it is likely to pick up in the second half, but not enough to fill container vessels with the imports needed to support freight rate increases. That was the takeaway from Thursday’s JOC webcast on the Peak Season Shipping Forecast.

With piracy on the rise again, particularly in Southeast Asia, security professionals are recommending conducting more intensive screening of ship crews to create one less possible avenue for criminal elements to gain access to ships.

China Cosco Holdings has told investors it believes subsidies from Beijing for scrapping and upgrading its fleet will push the state-owned line to a $306 million first half net profit.

The Port of Miami posted double-digit container volume growth in June, a testament to the port’s concerted effort to boost organic growth and preserve business diverted from the U.S. West Coast during the port congestion crisis in late 2014 and early 2015.

Mitsui OSK Lines this week said it is launching a barge terminal operation company in Bangkok aimed at moving goods more speedily and efficiently from Thailand's gateway port of Laem Chabang to the capital of Bangkok.

Low Asia-Europe spot rates have forced NOL Group to renegotiate contract rates with some shippers.