U.S.-flag domestic carrier Horizon Lines reported higher third-quarter profit as an 8.9 percent rise in container volume offset a 5.1 percent drop in average revenue per box.
Port congestion in Southern California is driving cargo to third-party logistics providers that have access to capacity from ocean and overland carriers, and the information technology systems to link these services together in an end-to-end supply chain solution, according to a 3PL executive.
The massive congestion affecting the ports of Los Angeles and Long Beach is creating a fresh wave of diversions to other ports as shippers flee the worst congestion that the largest port complex in the Americas has seen in at least a decade.
Chiquita International and Irish banana seller Fyffes are busy wooing shareholders, saying the synergies of a combined company would result in $60 million in annual savings, much of it from lower transportation and fuel bills.
The world’s largest ship financiers, mostly German, could see their vessel assets, dominated by container ships, written down by up to 20 percent in the European Central Bank’s impending review of Eurozone banks’ resiliency.
Antwerp’s container traffic grew 5 percent year-over-year in the first three quarters of 2014, putting the Belgian port on track for a record total throughput in 2014.
Aided by a Pennsylvania incentive program, Mediterranean Shipping Co. will continue to operate a direct service between North Europe and Boston and Philadelphia alongside its forthcoming 2M Alliance with Maersk Line.
Construction on Crowley’s two vessels powered by liquefied natural gas began today, with the first of the pair slated for delivery in second-quarter 2017 and the second expected later that year.
General rate increases in the trans-Pacific count on participation from all carriers to be successful, and are hurt when one carrier or several discount prices on the eve of a hike, Transpacific Stabilization Agreement executive administrator Brian Conrad says.
Hamburg Süd said it has taken steps to combat significant delays in vessel arrivals and departures at the ports of Los Angeles and Long Beach as severe congestion at the largest port complex in the Americas has reached a new level of intensity.