Maritime News

Images for weekly wrap-up
The International Longshore and Warehouse Union and the Pacific Maritime Association met for three days this past week without concluding negotiations; at the weekend, the parties announced a week-long recess in the talks. German carrier Hamburg Süd announced plans to acquire the container operations of Chile’s CCNI, in a move resembling the deal between larger competitor Hapag-Lloyd and Chile’s CSAV, and Crowley is reported to be in talks to acquire Horizon Lines’ Puerto Rico assets. Earnings reports by U.S. truckload carriers are pointing to a stronger freight recovery in the United States, though rail service continues to be held back. And on Friday, Anne S. Ferro announced her departure from the Federal Motor Carrier Safety Administration after five years leading the agency.

Hutchison Port Holdings Trust (HPH Trust) reported a 16 percent rise in first-half net profit on the back of improved U.S. and European cargo and greater transshipment volume.

OOCL Qingdao
Evidence of volume growth in east-west container shipping markets was revealed in Orient Overseas Container Line’s most recent results.

The Shanghai-northern Europe spot rate slipped 2.2 percent to $1,203.
Price drops continued to be reflected in the Shanghai Containerized Freight Index this week, as every major lane on the index saw spot rates fall.

Container volume at the Port of Philadelphia jumped 29 percent during the first half of the year, aided by two new services and a continuing shift of breakbulk to containers for shipments of imported fruit.

Hamburg Sued ships
Hamburg Süd has signed a preliminary agreement to acquire the container operations of the Valparaiso, Chile-based Compañía Chilena de Navegación Interoceánica, or CCNI, by Dec. 31, 2014.

Ocean carrier rate revision roundup for July 25
Several container lines have planned general rate increases in multiple trade lanes in August, although any gains achieved could be temporary as overcapacity and sluggish global demand continue.

Costamare’s revenue and net income grew in the second quarter as the Greek container shipowner boosted its fleet of chartered vessels.

A sale of Horizon Lines’ Puerto Rico service could prompt the carrier to also sell its Alaska route, with Matson the most likely buyer, analysts at investment bank Stifel Nicolaus said in a research note.

The U.S. Federal Maritime Commission is seeking authority to use its website instead of the Federal Register to provide public notice when it revokes or suspends the licenses of ocean transportation intermediaries.