Maritime News

reefer shipment
It’s no secret that specialized carriers are losing refrigerated cargo market share to containerized carriers, but details about why it’s happening, how much cargo is really shifting and who ultimately will control which pieces of the market are less apparent.

The general rate increase announcements for early June are flooding in from carriers on the troubled Asia-Europe trade, even as a price war between the lines continues to drag down spot rates.

Shipping Corporation of India swung to $31.5 million net profit in fiscal year 2014-15, which ended March 31, from a $43.2 million loss in the previous year, driven by continued cost-cutting and improved freight earnings that helped compensate for a marginal decline in operating revenue.

Port of New York and New Jersey, Maher Terminals
Demurrage and per-diem detention fees at gridlocked U.S. ports have turned into a multimillion-dollar hot potato. Cargo interests, truckers, ocean carriers and marine terminals are locked in noisy, seemingly nonstop argument over responsibility for the fees. It’s a complex problem with no easy solution — but plenty of finger-pointing.

DFDS Logistics, ship loading
DFDS, the short-sea shipping and logistics group, raised its full year earnings outlook after operating profit surged 150 percent in the first quarter as higher freight traffic on its North European network offset lower volumes on Russian routes.

Shipping Australia boss Rod Nairn doesn’t always agree with officials, but when deputy prime minister Warren Truss outlined the government plan to simplify coastal shipping regulation, he was all for it.

The Suez Canal is scheduled to be wider and deeper by the end of the summer, but the potential savings of time and money for shippers and carriers is not a concern for Panama Canal Authority CEO Jorge Quijano said Wednesday.

Maersk’s SeaLand brand focused on Americas trade on Wednesday said it would tie-up with APL to launch a weekly service connecting Colombia, Panama and U.S. East Coast, starting as soon as next month.

Container lines’ on-time reliability in April was the best since October, indicative of a return to “normal” operations in the major trade lanes, according to Drewry Maritime Research.

Zim Integrated Shipping Services returned to profit in the first quarter as a multi-billion dollar restructuring and sharply lower fuel prices accelerated its financial revival after seven straight years in the red.