Iranian patrol vessels fired warning shots across the bow of the container ship Maersk Tigris when the vessel was traversing the Strait of Hormuz in Iranian territorial waters, a Pentagon spokesman said.
A rush by container lines to add services threatens to create overcapacity and undermine rates on all-water services between Asia and the U.S. East Coast, Alphaliner reports.
Danaos, the leading Greek container ship-owner, more than tripled its earnings in the first quarter and forecast further gains for the rest of the year.
Mega-vessels deployed in the Asia-Europe trade are overlapping intra-Asia routes and compounding the influx of capacity cascading into the regional trade from oversupplied east-west routes.
Spot rates in the China-U.S. East Coast lane are falling back down to historical levels, a sign that vessel diversions driven by West Coast congestion may be easing.
The trial of Thomas Farmer, a former Crowley Liner Services executive accused of antitrust conspiracy, has entered its third week in U.S. District Court in San Juan, Puerto Rico.
General Mills will be the first tenant at a tri-modal logistics facility near Manchester, England, set to open next year. The inland port will offer rail, truck and short-sea shipping links.
U.S. consumer spending and new homebuilding are forecast to grow so steadily this year that imports from Far East Asia are likely to grow by a faster-than-expected 4.5 percent, year-over-year.
Sri Laxmana, Director of Global Forwarding, Ocean Services, C.H. Robinson, comments on challenges the shipping industry faced in 2014 and what is ahead, including thoughts on various ways the Panama Canal expansion may impact West Coast volumes.
At TPM 2015, Kuehne + Nagel Vice President Trans-Pacific Seafreight Bill Rooney on commoditization in the shipping industry and the challenges that brings to various business segments, contract models and determining the importance of lower unit costs in the overall picture