Maritime News

China will remain the clear leader in U.S. footwear imports even as Vietnam and other countries nibble away at its market share, according to a new forecast by the Footwear Distributors and Retailers of America.

Despite managing to restore profitability in the past year, MOL president Koichi Muto said the company’s container division continues to lose money and can’t recover without massive changes.

More shippers contracting with C.H. Robinson Worldwide shifted loads from railroad to highway in the second quarter after seeing intermodal rail service deteriorate.

Container vessel Hanjin Lisbon
Hanjin Shipping posted a net loss of $194 million in the second quarter, but the weak financial performance was eased by aggressive cost cutting in its container division that managed to lift the Korean carrier’s operating profit.

Expectations of a solid peak season from Asia to both Europe and North America could lead to higher ocean container freight rates in the third quarter, but the gains are likely to be only temporary.

Drewry’s benchmark spot rate from Hong Kong to Los Angeles remained at $1,800 per 40-foot container for a second week.
In a now familiar pattern, trans-Pacific spot prices held steady ahead of another general rate increase after dropping precipitously the week before.

DSV flags
DSV today became the latest top 10 freight forwarder to post market-beating growth in ocean container traffic as the consolidation of the fragmented global logistics industry gathers pace.

An activist group announced plans to block cargo moving off Israel-based Zim ships at Oakland on Aug. 2 to protest the conflict in Gaza.

Finnlines, a leading Baltic short sea shipping line, today posted its biggest quarterly profit in eight years as it sold surplus ships, axed loss-making routes and disposed of non-core operations.

Plane in blue sky
Positive developments in China’s export space are raising expectations that the recent strong performance of air and ocean cargo volumes will extend into a solid peak season.