Maritime News

Speculation is rising that the three largest global container lines are considering buying the last surviving Brazilian-owned container shipping company, Log-In Logistica Ltda.

While container carriers haven’t had much to cheer about as spot rates take a beating, they can at least take solace in the fact that equipment costs have hit a 10-year low, according to shipping consultant Drewry.

Crowley is continuing its investments in the U.S.-Caribbean-Latin American services by buying more than 4,300 pieces of equipment that will be used on its services connecting the Caribbean, South America and the U.S.

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.