The fleet of idle container ships is racing to an all-time high.
Anxiety over the staying power of container lines after the Hanjin Shipping collapse is thick among beneficial cargo owners, vendors, and the container lines.
Star Reefers sank into the red in the third quarter as the Norwegian refrigerated shipping line faced intense pressure from container lines.
A federal judge on Tuesday allowed a chassis company to terminate leases with Hanjin Shipping.
Costamare said it has delayed the delivery of four container ships.
Hanjin Shipping is negotiating with the terminal operating subsidiary of Mediterranean Shipping Co. to purchase its TTI terminal in Long Beach, but MSC has a minimum annual financial commitment at another terminal in the port.
Multiple calls by large vessels on certain days of the week, known as vessel bunching, are straining the equipment and labor resources at US ports and presenting a growing threat to productivity at container terminals.
Fesco’s revenue and earnings are still in freefall as Russia’s leading ocean and intermodal rail container operator struggles with a flatlining domestic economy.
APM Terminals has ordered more than 40 pieces of equipment for its second transshipment terminal under construction at the Tanger-Med port complex in Morocco.
A recent spike in the container spot market has given carriers improved pricing power, with shippers resigned to paying higher rates in their 2017 service contracts.