Maritime News

Taiwanese ocean carrier Yang Ming Line has upgraded its intra-Asia service network to better meet growing demand in the region.

The SSA Marine terminal at the Port of Oakland remained closed Tuesday because longshoremen refused to report to their jobs, even though the anti-Israel demonstrators who had blocked entrance to the facility on Sunday were long gone.

Maersk McKinney-Moller
Maersk Line and Mediterranean Shipping Co. do not require regulatory approval from China for their proposed “2M” vessel sharing agreement on the east-west trades, Maersk Line said today.

The findings of a Chinese Ministry of Transport probe into rate filing by container lines and NVOCCs in the China-Japan market are expected to be released shortly. The case is being watched closely by foreign carriers to see whether China applies the same standard to its own carriers as it did to the erstwhile P3 Network.

Triple E class container ship Mærsk Mc-Kinney Møller
Maersk Line reported a profit of $547 million for the second quarter as the container shipping division helped drive up the Maersk Group’s half-year earnings by 42 percent year-over-year.

With vessels to the U.S. East Coast filled to capacity, and containerized imports to the West Coast also strong, carriers in the eastbound trans-Pacific intend to increase their rates...

Despite generally strengthening spot rates in the head-haul east-west trades, the trend is unlikely to last because underlying volatility is growing, especially in the Asia-Europe trade, according to SeaIntel.

A shift from small container ships to fewer but larger ships could result in a decline in the number of vessels on the water this year, the first decrease in 20 years, Drewry Maritime Research said.

Nine straight weeks of steady declines in pricing of low-sulfur bunker fuel have brought the price per metric ton down to the lowest levels in more than three years.

Multiple container lines have planned general rate increases in numerous trade lanes in August, although any gains achieved could be fleeting as overcapacity and sluggish global demand continue.