Evergreen Line has confirmed an order for 10 ships each with capacities of 2,800 twenty-foot equivalent units, a move aimed at capturing a larger share of the profitable and growing intra-Asia trade market.
APL announced Monday that its PA2 service from North Asia will skip calls to the Port of Oakland through the end of July because of the port’s congestion problems.
The largest container vessels on order has more than sextupled since 1975 and is set to expand by at least 13 percent by 2020, according to an IHS Maritime & Trade analysis of the orderbook.
European Union competition regulators approved French carrier CMA CGM’s acquisition of OPDR, the German short-sea shipping line.
Maersk has sold its majority-owned offshore support company Esvagt to private equity investors in the latest disposal of non-core operations as it focuses on container shipping and terminals and oil and gas exploration and drilling.
A "toxic" mixture of overcapacity, weak demand and aggressive pricing is threatening ocean carriers’ profitability for the rest of 2015, according to Drewry Maritime Research.
The G6 Alliance will cancel another four Asia-Europe sailings in July and August in the latest indication that carriers do not expect much of a peak season this year.
Container lines won’t reduce the amount of cargo moving through the Suez Canal despite heightened security tensions — most recently inflamed by the reported arrest of 13 people on suspicion of planning to sabotage the waterway integral to trade between Asia and the Europe, and increasingly the U.S.
Puerto Rico’s fiscal crisis has rekindled criticism of the Jones Act, the cabotage law requiring the use of U.S.-flag vessels for shipments between the commonwealth and the U.S. mainland.