When he goes to Shanghai in November, U.S. Federal Maritime Commissioner William Doyle wants to find out how Chinese regulators will handle the “2M” vessel-sharing agreement, as statements that the pact doesn’t require regulatory approval from Beijing are coming from others, not regulators themselves.
Ocean freight rates for shipments under contract on major east-west routes decreased 6 percent from March through July, allowing shippers to reduce their costs, according to results from Drewry’s Benchmarking Club.
Although delays are starting to ease at the Port of Rotterdam, schedule reliability to the Dutch port plummeted this summer.
If the Panama Canal hopes to retain container carrier services from South China and Southeast Asia to the U.S. East Coast and regain those it has lost to the Suez Canal over the last few years, it will have to develop a new pricing structure or lower its tolls after it opens its new locks to commercial traffic in 2016, according to a new report from SeaIntel Maritime Analysis.
After weeks of declining prices for both high and low sulfur bunker fuel, prices rebounded last week.
The second-quarter recovery that gave air and ocean cargo such a welcome boost looks set to continue its momentum well into the second half as the latest economic and freight indicators show some positive numbers.
Hapag-Lloyd will begin charging an Ebola inspection fee on all shipments to and from West Africa from Sept. 21 as mandatory health checks on ships are expected to cause lengthy delays.
Fesco Transportation Group’s revenue and earnings declined in the first half as a weaker rouble and lower ocean freight rates offset higher container volumes.
Maersk Line and CMA CGM have levied congestion surcharges cargo discharged at the port of Sohar in Oman as the relocation of all commercial traffic from Muscat to Sohar leads to berthing delays.
Small Malaysian container line and regional feeder operator PDZ released its full-year results, and once again the destructive impact of weak freight rates was evident in a carrier’s financials despite the line posting a pre-tax profit.