Consolidation of container lines could spur them to finally make a clean break from control of intermodal chassis.
The members of THE Alliance on Wednesday announced a revamped Mediterranean-East Coast North America service via a link with Israeli ocean carrier Zim Integrated Shipping Service.
APL will drop its regular general rate increases and adopt the inclusive rate format that was agreed with the EU Commission in July by a host of carriers to resolve a long-running anti-trust probe.
APL has expanded its China-New Zealand network as trade between the two countries almost tripled in the past decade.
The original language would have expanded the antitrust immunity of container shipping alliances.
Indian shippers who have been reeling from unpredictable demand may have some cost relief on the way after the Directorate General of Shipping and stakeholders moved a step closer to reaching an agreement over abolition of shipping surcharges.
Higher costs for operating ships will only increase the financial pressure on container lines already struggling to keep their heads above red ink.
The idle container shipping fleet has soared to 1.7 million twenty-foot-equivalent units this year.
A look at the market shares of the JOC’s Top 5 ocean carriers in the first three quarters of 2016 compared with last year reveals the rapid consolidation of capacity into fewer, larger liner hands.
Unless something changes dramatically, container lines risk a repeat of the brutal 2015 to 2016 contracting season; deepening industry losses are set to approach $10 billion this year alone.