The privatization of Kingston Container Terminal should help revive transshipment, but the new operator will face competitive challenges
The number of westbound 40-foot equivalent ocean containers available in Chicago and Kansas City surged in early April, another sign the West Coast container logjam has broken and the Chinese New Year reprieve is over.
A former employee of U.S. mainland-Puerto Rico carriers Sea Star Line and Trailer Bridge has been charged with defrauding the companies of $2.1 million by submitting phony invoices for container and equipment decals and inspection and transportation of containers and equipment.
Horizon Lines said it expects to complete its sale to Matson by the end of Horizon’s second quarter in late June. The deal received clearance from U.S. antitrust regulators this week.
Zim Integrated Shipping Services announced the launch of a new service between Asia and the U.S. East Coast via the Suez Canal at the end of May.
Orient Overseas Container Line reported falling volumes and revenue in the first quarter with the trans-Pacific and intra-Asia trades placing a drag on the carrier’s performance.
Navios Group has acquired a further 14 ships at risk of bankruptcy from HSH Nordbank in the second deal between the NYSE-listed Greek shipowner and the German bank in the past two years.
Shippers should expect more blanked sailings and service disruption as the carriers try to raise freight rates that have tumbled to unprecedented levels on the Asia-Europe trades, a major forwarder has warned.
European shippers are stepping up their scrutiny of shipping alliances by launching their own review of the massive vessel-sharing agreements.
As of April 1, 2015, Alphaliner calculates current active total liner trade TEU capacity was at 19,191,800 TEUs aboard 5,979 ships, including 18,748,980 TEUs aboard 5,061 fully cellular ships. Year-over-year, that's 7 percent or 1,253,007 TEUs more in active liner capacity, while netting 28 more ships in the fleet. Since Dec. 1, 2014, 2.3 percent or 424,290 TEUs in active liner capacity were added, while netting one more ship in the fleet.