Three major container lines have announced plans to launch a mega-alliance, dubbed Ocean Three, or as the JOC.com team likes to call it, O3.
Slow-steaming has absorbed significant amounts of space on container ships, helping carriers save money on
New global alliances of container ship lines could produce a retaliatory surge in large-ship orders by competitors in 2016-2018, according to a research report by Bank of America Merrill Lynch analysts.
Bunker prices have fallen to their lowest level in over a year after a three month slide, and oversupply may keep fuel costs for container lines relatively low throughout the end of the year.
State-owned Shipping Corporation of India has announced the launch of a fortnightly direct container service connecting major ports in the Indian subcontinent with Myanmar, starting this month.
T.S. Lines launches third India-China service in a vessel sharing agreement with Hanjin and Simatech
Mediterranean Shipping Co. today unveiled surcharges of up to $165 per 20-foot container on North European and North American routes that will be subject to new low-sulfur limits in 2015.
The final piece of the puzzle, completing the circle –– container shipping analysts were searching for expressions to describe the Ocean Three alliance that was announced last week. But Drewry and SeaIntel were both in agreement that the alliance between CMA CGM, CSCL and UASC would see Ocean Three slot in just behind the 2M tie up of Maersk Line and MSC and see both alliances outpacing the rival networks of G6 and CKYHE.
An estimated 300,000 40-foot reefer containers are expected to be added to the global fleet by 2018 as strong demand for perishables drives the business and improving technology enables their long distance transport.
Container freight rates will stabilize and may trend upward over the next few years despite the existing overcapacity of vessel space because of the expansion of existing carrier alliances and the creation of new ones, according to Rolf Habben Jansen, CEO of Hapag-Lloyd.