Maersk Line, Mediterranean Shipping Co. and more than a dozen other carriers will revise their pricing practices to avoid fines and end an EU antitrust suit and investigation, people familiar with the matter told Reuters.
APM Terminals reported a 27.3 percent drop in net profit for 2015 as its container throughput declined by 5.9 percent because of divestments and weak volumes in some markets, parent A.P. Moller-Maersk Group said.
Container shipping demand and capacity are matching up better after the latter greatly outpaced the former in the last three months of 2015, but it’s too soon to tell if the improvement will hold, said Nils Smedegaard Andersen, CEO of Maersk Group.
Maersk Group’s 2015 profit tumbled 82 percent to $925 million as record low freight rates and a write down in the value of its oil assets savaged the Danish shipping giant’s annual earnings.
Hapag-Lloyd says there was a 65 percent increase in improperly declared hazardous cargo it carried last year, the latest sign of how dangerous goods could disrupt supply chains through accidents such as those that took place recently in China and Brazil.
The Agriculture Transportation Coalition said a new international container weight verification rule threatens U.S. exporters with lost business and supply chain “turmoil,” and warrants a congressional inquiry.
A dozen tugboats pulled a mega-ship out of the mud of the Elbe River so that it could call at the Port of Hamburg, illustrating the pressure such gargantuan ships place on ports and rescue crews.
A 10 percent increase in traffic at Itapoá port to 512,000 twenty-foot-equivalent units driven by a 25 percent surge in chicken exports to 41,200 containers in 2015 has left Itapoá in dire need of new equipment and more capacity.
Container lines, at least in the U.S., are starting to take forceful action to prepare for the Safety of Life at Sea, or SOLAS, weight verification rule.
Dole’s deployment of the Dole Pacific on regular service between California and Latin America is the latest sign of how refrigerated ship operators are turning increasingly to container ships from traditional break bulk vessels.