Maritime News

Sen. John McCain’s amendment to repeal a key provision of the Jones Act failed to make it into a Senate-passed bill authorizing construction of the Keystone XL oil pipeline.

Orient Overseas Container Line (OOCL) reported revenue of $5.8 billion in 2014, an increase of 3.5 percent that was achieved by the transport of 5.5 percent more TEUs than during 2013.

On the eve of a host of planned general rate increases, Asia-North Europe spot rates tumbled 8.2 percent this week, shedding most of the sharp gains made since mid-January, according to the latest reading of the Shanghai Containerised Freight Index (SCFI).

Hanjin Shipping ended 2014 with a loss of $386 million, a result that was still an improvement of 37.8 percent over 2013 and was achieved on the back of a vastly improved operating result.

China Cosco Holdings ended 2014 in profitable territory, growing its net earnings by 50 percent to $56 million on the back of cost cuts, improved revenue and lower bunker fuel prices.

Evergreen Marine Corp. on Wednesday finalized plans to charter an 11-strong fleet of 18,000 TEU ships, becoming the latest carrier to deploy ultra-large container vessels but raising questions about how appropriate such ships designed for an era of slow steaming are after the recent plunge in oil prices.

Leading container shipping groups are under fire from a safe shipbreaking campaign group for continuing to send vessels to "sub-standard" beach demolition yards on the Indian sub-continent.

United Arab Shipping Co. has ordered 2,000 reefer containers as it prepares to expand into the South American liner trades.

Congestion on the West Coast, which has led to delays of one to three weeks on nearly all trans-Pacific services, has led carriers to inject significant additional tonnage into the trans-Pacific to maintain a semblance of schedule reliability, Alphaliner said.

China is the main battleground for the world’s four mega shipping alliances, that collectively depart from 10 mainland ports every week to North Europe in 74 weekly voyages, according to Drewry Maritime Research.