More shippers contracting with C.H. Robinson Worldwide shifted loads from railroad to highway in the second quarter after seeing intermodal rail service deteriorate.
Hanjin Shipping posted a net loss of $194 million in the second quarter, but the weak financial performance was eased by aggressive cost cutting in its container division that managed to lift the Korean carrier’s operating profit.
Expectations of a solid peak season from Asia to both Europe and North America could lead to higher ocean container freight rates in the third quarter, but the gains are likely to be only temporary.
In a now familiar pattern, trans-Pacific spot prices held steady ahead of another general rate increase after dropping precipitously the week before.
DSV today became the latest top 10 freight forwarder to post market-beating growth in ocean container traffic as the consolidation of the fragmented global logistics industry gathers pace.
An activist group announced plans to block cargo moving off Israel-based Zim ships at Oakland on Aug. 2 to protest the conflict in Gaza.
Finnlines, a leading Baltic short sea shipping line, today posted its biggest quarterly profit in eight years as it sold surplus ships, axed loss-making routes and disposed of non-core operations.
Positive developments in China’s export space are raising expectations that the recent strong performance of air and ocean cargo volumes will extend into a solid peak season.
Spot prices for low-sulfur bunker fuel sank for the sixth straight week last week, a total drop of just over 7 percent.
If the negative portrayal by China’s state broadcaster of the proposed 2M tie-up between Maersk Line and Mediterranean Shipping Co. this weekend has official backing, it could be an indication of internal political pressure to shield Cosco and China Shipping Container Lines from a stronger competitor.