Hapag-Lloyd has announced a general rate increase for shipments from the Middle East and the Indian subcontinent to the United States and Canada, as trade has grown by double-digits.
Three container ships sailed through the “new” Suez Canal over the weekend in the first trial run of a second shipping lane alongside the existing waterway ahead of the official opening next month.
The G6 Alliance today announced the cancellation of four Asia-Europe sailings in September as carriers on the poorly performing trade route struggle to achieve profitability with a surplus of capacity and low demand.
Singapore’s Temasek may be interested in offloading some of its underperforming companies such as NOL, but there is no pressing need for the immense state investor to do it on the cheap through a distressed sale, Drewry says.
Intra-Asia container shipping is swelling as manufacturing shifts from China to lower-cost countries, and may represent 25 percent of global container trade. In a global context, however, the trade is a 'blind spot' where accurate data and forecasts are hard to come by.
Log-In Logistica Intermodal will spend $5.2 million to upgrade and expand the fleet of containers used in South America's coastal trade and to carry goods to Manaus on the Amazon River.
SeaLand has said that it will no longer accept any form of the chemical compound calcium hypochlorite and any shipments currently loaded or awaiting transshipment would be offered alternative solutions.
Less than a week after announcing an August general rate increase for shipments from Far East Asia, excluding Japan, to Middle Eastern Gulf ports, Hapag-Lloyd is increasing its rate $300 for shipments from the same area to the Red Sea as modest container volume growth in the Middle East makes itself felt in the market.
OOCL’s revenue on the Asia-Europe route crashed by 28 percent in the second quarter, more than double the near 12 percent slide in traffic, in the latest indication of the depth of the bear market on the world’s biggest container trade.
The 2M shipping alliance between Maersk Line and Mediterranean Shipping Co. can expand its vessel-sharing agreement on U.S. trade lanes connecting to Israel, Russia and Saudi Arabia after a 45-day review expired Thursday without U.S. Federal Maritime Commission action.