Hapag-Lloyd’s seeking of a rate increase in August on its eastbound trans-Pacific services after pushing for identical increases in the last two months suggest recent attempts fared poorly.
In exactly one year new global regulations requiring every packed container have a verified container weight will go into effect, and shippers need to be prepared, an industry trade group warns.
The christening last week of the Vicente Pinzon marks the completion of Alianca Navegacao’s reais 700 million ($224.5 million) cabotage and coastal fleet upgrade aimed at securing its dominance in the Brazilian cabotage market
CMA CGM will sign a $1 billion financing agreement with the Export-Import Bank of China on Wednesday when Chinese premier Li Keqiang visits the French carrier’s headquarters.
Shippers on Asia-Europe have never been fans of the host of surcharges levied by carriers on the trade and have routinely levelled complaints that the ad-ons were more boosters of revenue rather than a cost recovery mechanism.
The G6 Alliance continues to add port calls to its Asia-North Europe services, this time in China, in a bid to secure additional cargo loads on the trade during the much hoped for peak season.
The European Union stepped up pressure on the Greek government to levy a higher tonnage tax and end tax breaks for the powerful shipping industry amid growing fears the country is heading for default and an exit from the eurozone.
Cosco, the largest shipping group in China, is back in the corruption spotlight with the National Audit Office issuing a report that accuses the carrier of serious financial irregularities.
Carriers on the Asia-Europe trade held out for as long as they could — or longer than they should, considering the recent rate collapse — but after four months of steadily falling spot market prices, the lines have finally been forced to reduce capacity.
As ships grow larger, so does the challenge of finding a port of refuge where they can secure salvage assistance during emergencies.