Maritime News

Atlantic Container Line ro-ro carrier
When Atlantic Container Line in the next couple months introduces the first of five of the world’s largest multipurpose ro-ro/container ships, the symbolism will be stark. The vessels, after all, will carry cargo moving across the Atlantic for shipping sectors heading in opposite directions — the roll-on, roll-off market being a rising star and the containerized trade staring at a sudden, unexpected downturn.

Rainfall has eliminated the need for a planned draught restriction of up to 39 feet through the Panama Canal.

Trading in shares of the Hong Kong and Shanghai-listed subsidiaries of China’s two largest shipping lines, Cosco and China Shipping, will remain suspended for another week closed-door talks on what is believed to be merger discussions continue.

Just days before trans-Pacific ocean carriers aim to implement aggressive general rate increases on eastbound services to North America, average spot rates from Shanghai to the U.S. hit their lowest level in almost four years.

China carrier Nan Tsing Container Lines told employees it has suspended all business operations and was preparing to dismiss staff because of mounting debts amid a slowdown in domestic shipping.

The wild ride in Asia-Europe container pricing continued this week in advance of the Sept. 1 general rate increases, with the spot rate rising 26 percent compared to last week, according to the latest reading of the Shanghai Containerized Freight Index (SCFI).

Malaysia and Indonesia are working together to fight rising piracy in Southeast Asia less than a week after six attacks, two targeting containerships, occurred within 48 hours, according to a report.

Operations at ports on the Virgin Islands and Puerto Rico were shut down Thursday as the eastern Caribbean awaited the arrival of tropical storm Erika.

Port Tampa Bay's CEO Paul Anderson at TPM 2015.
Port Tampa Bay CEO Paul Anderson on the maritime trade industry's recent labor contract issues on the West Coast and the need for more influence on Capital Hill.

The listed units of China’s two largest shipping lines reported their interim results today with wildly diverging profits achieved by the two state-owned carriers in the first six months of the year.