Sharp spot rate increase could take effects as soon as Thursday.
The idle container ship fleet remains above 1 million 20-foot-equivalent units and is still rising.
Debt-stricken Hanjin Shipping will file for court protection after losing the support of its banks unhappy with its restructuring efforts.
Few things spook shippers more than the potential for a ship to be arrested in port, something Hanjin has reportedly faced and may see more of as creditors come collecting.
A merger of Hanjin and HMM is in the national interest, believes the Korea Shipowners Association.
The days of multiuser container terminals could be coming to an end, according to the head of a Colombian container terminal.
Mediterranean Shipping Co. has introduced a new container service between India and Africa to “improve transit times and enhance delivery to those destinations.”
Samskip, the Icelandic shipping and logistics group, has bought Norway’s Euro Container Line.
The Korea Exchange has asked the country’s largest carrier for clarification on media reports that it has lost the support of South Korean banks.
An 11-year high tide combined with beach erosion to shut down South America’s busiest port and cast doubt on plans to dredge deeper so the port can handle larger ships.