Maritime News

Canada will not require domestic shipowners operating on the Great Lakes to equip their ships with costly ballast treatment systems until effective technology exists, Canadian Transport Minister Lisa Raitt said last week.

U.S. shippers’ expectations for freight growth has dropped to its lowest levels in nearly five years, according to a recent survey.

Construction has begun on the second of two liquefied natural gas-fueled ships that Crowley Maritime Corp. has ordered for the U.S. mainland-Puerto Rico trade.

Container ship schedule reliability on the growing trans-Atlantic route during April was the lowest in at least three years, according to SeaIntel Maritime Analysis.

Shreyas Shipping and Logistics swung to a net profit of Rs. 61.75 crore (about $9.6 million) in the fiscal year ended March 31, a big turnaround from its loss of Rs. 4.32 crore ($675,000) in the previous year.

Rising charter rates helped Greek container shipowner Box Ships narrow its first-quarter loss close to break even.

Sue artwork portraying carrier contracts
The results of the 2015-2016 trans-Pacific contracting season are mostly in, and although carriers dug in their heels to get rate increases, for the most part they fell short of getting what they wanted.

Intra-Asia freight rates have fallen off a cliff during May on some of the regional routes, with China to Japan spot rates falling by up to 75 percent compared to the same month last year as capacity pours into the trade.

Vessel reliability in the trans-Pacific trades is beginning to improve now that West Coast labor issues have been resolved, but it still has a long way to go before it is acceptable, metrics provided by Seaintel Maritime Analysis and the Marine Exchange of Southern California show.

CMA CGM is launching a trans-Atlantic service with Hamburg Sud and United Arab Shipping Co., and enhancing another service after the French carrier shipped 35 percent more volume between the U.S. East Coast and North Europe in the first three months compared to the same period year ago.