Hanjin Shipping recorded its first quarterly net profit since the end of 2010 in a turnaround driven largely by cost cuts and currency gains that saw the Korean carrier posting third quarter net earnings of $39 million.
With the launch of its SeaLand inter-Americas service approaching on Jan. 1, Maersk has begun transitioning its affected customer base from Maersk to the newly created SeaLand unit.
A major new initiative has been launched to upgrade infrastructure and the logistics network along the Yangtze River, an undertaking that will impact almost half of the country’s population.
HONG KONG — Robert Mylod, the former Priceline CFO who played a major role in automating the online consumer travel market, has joined online freight pricing and quoting network Freightos, which plans to mimic the automated system that was such a game changer in the travel business.
Atlantic Container Line said the first of five new ships in a top-to-bottom fleet upgrade are on track to enter service next summer, followed with an additional delivery every two months until its current fleet of 1980s-era ships is replaced.
Flames raged aboard two container ships, one from UASC, another from Hamburg Sud on Monday after the ships collided at Port Klang near Kuala Lumpur.
The world’s largest box maker, China International Marine Containers (CIMC), posted a 66 percent increase in net profit for January through September as the U.S. and European economies continued to recover and new vessels were launched, driving up the shipping industry demand for new containers.
Bunker fuel surcharges are falling along with the drop in fuel prices, according to Catapult International which tracks ocean surcharges.
Slow European economic growth and political unrest in the Middle East is casting a “dark cloud” over recent container growth between the two continents. Drewry Maritime Research said.
Revenue gained through Suez Canal tolls in September rose 6.3 percent year-over-year but fell 8 percent from August, suggesting freight growth on the Egyptian waterway might be slowing.