U.S. containerized ocean trade via European ports, including transshipment cargoes, increased 3.5 percent year-over-year to 4.7 million 20-foot-equivalent units in the 12 months ending in March, according to PIERS, a sister product of The Journal of Commerce within IHS Maritime & Trade. While U.S. exports tumbled 4.6 percent to just more than 1.9 million TEUs, U.S. imports, comprising 59.3 percent of the trade, jumped 9.9 percent to nearly 2.8 million TEUs.
CMA CGM plans to deploy three 2,100 twenty-foot-equivalent unit container ships with heavy refrigerated capacity on the North Europe-Caribbean trade lane to handle forecasted rising demand.
Egyptian armed forces are on high alert ahead of the ceremony to open the $8 billion, 44.7 mile extension to the Suez Canal on August 6, which will for the first time allow two-way traffic on the canal, creating economic benefits for both international shippers and the local economy.
Egypt should deliver on a commitment to dredge a new Mediterranean access channel to the Suez Canal as soon as possible or it risks derailing the goals of its ambitious Suez-centered development plans.
The world’s largest container carrier — and reefer carrier — Maersk Line is well-versed in the details of shipping temperature-controlled cargoes. William “Bill” Duggan, vice president of North American refrigerated services, recently shared his thoughts on key challenges and opportunities confronting the global reefer market.
At a time when east-west container shipping trades are being pummeled by what Drewry Maritime Research calls a toxic mix of overcapacity, weak demand and aggressive pricing, the trans-Atlantic is standing out as a lone, and surprising, stalwart.
Greek container ship-owner Danaos more than doubled second-quarter earnings as it continued to cut financing costs and increased its charter revenue.
Hawaiian shippers frustrated with high freight rates had their hopes for change dashed last week after a U.S. federal court rejected their bid to strike cabotage provisions from the U.S. Merchant Marine Act.
The slowdown in China’s economy poses some risks for container shipping, according to Drewry Maritime Research.
“It is a historic day – a day for removing barriers,” proclaimed U.S. Secretary of State John Kerry on July 20, as Cuba and America reopened their embassies and ended a 54-year diplomatic stalemate.