Maritime News

A spot rate index measuring the cost of shipping a 40-foot container from Los Angeles to Shanghai this week fell to its lowest level of the year, reflecting declining Chinese demand for U.S. exports.

Grimaldi vessel
Italian shipowner Grimaldi has ordered three new car carriers, with an option for a fourth vessel, just three weeks after signing a contract for five ships and an option for seven more, taking its total investment to $465 million and underscoring the revival in the global automotive industry.

CMA CGM has reorganized the port rotation of its Europe-Pakistan-India Consortium, or EPIC, service by adding a direct call at Hazira, India, in an attempt to circumvent growing delays at the nearby public port of Nhava Sheva.

Spot rates on the major east-west routes recorded a second week of sharply rising prices as a general rate increase converged with widespread sailing withdrawals by the shipping alliances to finally bring some good news to the battered trade.

The G6 Alliance has added the Canadian port of Halifax to its Asia-U.S. East Coast service, citing market demand as the container shipping industry limps closer to the traditional peak season period.

new Panama Canal locks being filled with water
The new locks at the Pacific end of the Panama Canal began to fill with water in late June in preparation for months of testing of their new gates before they open to commercial traffic next April.

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.