Some shippers will have to pay premiums to get on vessels during this late peak season
Hyundai Merchant Marine is one of five bidders for the trans-Pacific and intra-Asia networks of bankrupt Hanjin Shipping.
The operational update of Orient Overseas Container Line is a perfect reflection of the dismal operating environment container lines are trapped in — more cargo is being carried on major trades for less revenue.
Spot rates on Asia-Europe and Asia-Mediterranean surged upwards, continuing a trend of rising price levels since the record lows recorded in March.
The US Maritime Administration will provide $4.64 million in “marine highway” grants for five existing or proposed container-on-barge services.
Trans-Pacific eastbound spot rates are building despite the “unpredictable” market, but the Hanjin effect is ebbing.
Shippers may end up paying higher rates via fuel surcharges depending on how well the oil industry can meet demand for low sulfur fuel.
Terminal operators and stevedores make up the second-largest group of organizations making financial claims against bankrupt Hanjin Shipping.
The fleet of idle container ships is racing to an all-time high.
Anxiety over the staying power of container lines after the Hanjin Shipping collapse is thick among beneficial cargo owners, vendors, and the container lines.