Maritime News

U.S. containerized imports from South America are rising on a double-digit basis while U.S. exports to the region stagnate, a recent trend that is narrowing the trade lane’s north-south imbalance and emboldening carriers to seek higher rates.

Simatech has received the first of two new container ships with capacities of 4,350 twenty-foot-equivalent units, reflecting continuing and rapid intra-Asia trade demand.

The Far East-South America trades are facing the threat of rate wars this month as carriers add significant additional capacity to an already oversupplied market, according to Alphaliner.

Hapag-Lloyd’s seeking of a rate increase in August on its eastbound trans-Pacific services after pushing for identical increases in the last two months suggest recent attempts fared poorly.

In exactly one year new global regulations requiring every packed container have a verified container weight will go into effect, and shippers need to be prepared, an industry trade group warns.

The christening last week of the Vicente Pinzon marks the completion of Alianca Navegacao’s reais 700 million ($224.5 million) cabotage and coastal fleet upgrade aimed at securing its dominance in the Brazilian cabotage market

CMA CGM will sign a $1 billion financing agreement with the Export-Import Bank of China on Wednesday when Chinese premier Li Keqiang visits the French carrier’s headquarters.

Shippers on Asia-Europe have never been fans of the host of surcharges levied by carriers on the trade and have routinely levelled complaints that the ad-ons were more boosters of revenue rather than a cost recovery mechanism.

The G6 Alliance continues to add port calls to its Asia-North Europe services, this time in China, in a bid to secure additional cargo loads on the trade during the much hoped for peak season.

The European Union stepped up pressure on the Greek government to levy a higher tonnage tax and end tax breaks for the powerful shipping industry amid growing fears the country is heading for default and an exit from the eurozone.