The U.S. Government Accountability Office says the military should revise practices that cost taxpayers $823 million in fees over 10 years for late return of shipping containers, mostly for the war in Afghanistan.
Reinstated port congestion surcharges for container imports into the U.S. West Coast will go into effect beginning on Wednesday.
With reports of more 18,000 TEU ships soon to be ordered as carriers continue to pursue lower operating costs, the focus is again turning to what the next largest class of ships would look like.
One potential consequence of the congestion at West Coast ports - a shortage of containers in Asia due to difficulties repositioning them back from the U.S. - is being watched closely but does not seem yet to be creating widespread problems.
Carriers are proceeding with the largest single trans-Pacific eastbound rate increase in years but have only postponed making a formal announcement.
The idle container ship fleet has fallen to its lowest level since the global financial crisis erupted in late 2008 , as port congestion on the U.S. West Coast and in Manila keeps vessels in work.
Clarksons, the world’s largest shipbroker, is paying £281.2 million [US $440 million] for its Oslo-based rival RS Platou, in a record deal likely to accelerate consolidation in the sector.
The International Transport Workers' Federation is battling with the Panama Canal Authority, accusing the PCA of trying to shut down a tugboat captains' union in advance of the canal's expansion.
West Africa trade still points to a region with growth potential, despite a nearly 30 percent drop in exports caused by the Ebola outbreak, Drewry and carrier executives say.
Maersk Line’s chief executive said the carrier would settle for lower margins if this meant more of its competitors were profitable, reflecting concerns that while the largest carriers are profitable the rest of the industry is struggling to keep pace.