Maritime News

Hyundai container ship at APM Terminals in Los Angeles
The economic fundamentals of the trans-Pacific trade are strengthening, setting the stage for what would normally generate rapid growth in container volumes, especially in the eastbound trade. But this isn’t a normal year.

MSC container ship at the Port of Philadelphia
A new incentive program for ocean carriers at Philadelphia could bring more than 1 million new containers through the city’s Delaware River terminals over the next five years, according to the Philadelphia Regional Port Authority.

Trucks at the Port of Santos
After 10 days of "spontaneous" protests, many independent truck drivers in Brazil have agreed to government-inspired peace talks aimed at preventing the South American country from grinding to a halt.

Mediterranean Shipping Co. is adding a new container service in the India-Australia-Mediterranean route, called the Australia Express, as the Geneva-based carrier beefs up its India connections to serve growing trade volumes.

Spot freight rates on the Asia-North Europe trade dropped to $938 per 20-foot container this week, falling 6.4 percent compared to the rate before Chinese New Year as cargo volumes out of China slowed over the holiday shutdown period.

Militants loyal to ISIS could bring Somali-style piracy to the Mediterranean, threatening the world’s largest trade lane, European officials warn.

Port productivity as ships get larger is stalled resulting in ships remaining in port for longer periods of time, delays to cargo and higher costs for carriers.

DFDS's pre-tax profit soared 56 percent in 2014, driven by increased short sea traffic on its key North Sea trades and reduced losses on the English Channel.

Rickmers Maritime sank to a $16 million net loss in 2014 from a $23.5 million profit in the previous year as impairments and lower containership charter rates in the third quarter offset a profitable final three months.

Mediterranean Shipping Co. plans in late April to launch a new container service directly linking India and China to capitalize on the booming intra-Asia cargo trade.