Maritime News

Despite the lack of a new West Coast labor contract two months after the expiration of the last agreement, the threat of work stoppages to peak-season merchandise is rapidly receding, according to a retail industry consultant.

Ocean carrier rate revision roundup for Aug. 29
Several container lines have planned general rate increases in trade lanes in the next two months, but any gains achieved could be fleeting as overcapacity and sluggish global demand continue.

CMA CGM Corte Real
CMA CGM, the world’s third-largest carrier in deployed capacity, increased revenue and cut operating expenses in the April through June period according to quarterly figures released today.

Maersk Kampala
Global schedule reliability has declined for the first time in six months, as carriers continue to deal with congestion in North Europe and the U.S. West Coast, according to a new report from SeaIntel Maritime Analysis.

air freighter
The air cargo industry has been battling declining market share for years as cost-sensitive shippers move long-haul cargo from air to ocean transport, but that trend may be coming to an end, PIL Managing Director Teo Siong Seng says.

Robert Sappio, former longtime executive at APL, has been named chief operating officer at SeaCube Container Leasing.

Emirates Shipping Line is the latest container line to impose surcharges on India-bound cargoes in response to the months-long intermodal delays that have led to serious equipment imbalance issues at India’s premier container gateways.

China Shipping Container Lines drifted into positive territory in the first half as a gain from one-time asset sales offset high costs and stubbornly weak freight rates that are troubling the liner industry.

Cosco Indian Ocean at Felixstowe
China Cosco Holdings saw its first-half losses soar to $338 million as a difficult shipping environment and the disposal of vessels dragged its year-over-year net profit down by 130 percent, despite solid growth in container volumes.

Jeffrey Boston has succeeded Chris Dombalis as chief executive officer at U.S. mainland-Puerto Rico carrier Trailer Bridge.