Militants loyal to ISIS could bring Somali-style piracy to the Mediterranean, threatening the world’s largest trade lane, European officials warn.
Port productivity as ships get larger is stalled resulting in ships remaining in port for longer periods of time, delays to cargo and higher costs for carriers.
DFDS's pre-tax profit soared 56 percent in 2014, driven by increased short sea traffic on its key North Sea trades and reduced losses on the English Channel.
Rickmers Maritime sank to a $16 million net loss in 2014 from a $23.5 million profit in the previous year as impairments and lower containership charter rates in the third quarter offset a profitable final three months.
Mediterranean Shipping Co. plans in late April to launch a new container service directly linking India and China to capitalize on the booming intra-Asia cargo trade.
Shipping lines in the eastbound Pacific confirmed on Wednesday their intention to raise freight rates $600 per 40-foot container for all shipments on March 9, and to increase rates an additional $600 per FEU on April 9.
The last two months of U.S. West Coast congestion appear to have cemented many shippers’ plans to divert cargo to other ports, according to a recent JOC.com survey.
APM Terminals restated its target of booking a $1 billion net operating profit after tax in 2016 as it emerged as the Maersk Group’s top performing division last year.
Damco’s decline deepened in 2014 as the Maersk Group’s freight forwarding and logistics unit saw ocean and air freight volumes slide in a growing market.
Maersk Group made a record net profit of $5.2 billion in 2014, up 38 percent on the 2013 result and driven by a strong performance by Maersk Line, which reported a profit of $2.3 billion.