An estimated 300,000 40-foot reefer containers are expected to be added to the global fleet by 2018 as strong demand for perishables drives the business and improving technology enables their long distance transport.
Container freight rates will stabilize and may trend upward over the next few years despite the existing overcapacity of vessel space because of the expansion of existing carrier alliances and the creation of new ones, according to Rolf Habben Jansen, CEO of Hapag-Lloyd.
Fast-growing third-party logistics companies are tuning into and tapping broad trends driving logistics growth in the U.S. and globally, including increased cross-border trade and the expansion of intermodal rail. Here are seven trends picked by XPO Logistics CEO Bradley S. Jacobs.
A new carrier alliance entered the fray this week after weeks of feverish speculation.
Weak global demand is hurting U.S. containerized exports, while a reviving U.S. economy is aiding imports. A larger long-term trade imbalance is the likely result, Cass says.
Taiwanese ocean carrier Yang Ming Line has confirmed that the fixed-rate time charter terms for five 14,000-TEU container ships, currently being built by CSBC Corp., will be extended to 10 years, with one two-year option, according to Seaspan.
New York-New Jersey port employers and the International Longshoremen’s Association said they will appeal a federal judge’s dismissal of their lawsuit challenging new hiring rules set by the Waterfront Commission of New York Harbor.
All major trade lanes saw a dip in spot rates for the week ahead, according to the latest reading of the Shanghai Containerized Freight Index...
Additional container lines have announced congestion surcharges for shipments moving to Sohar, Oman, to compensate for the extra costs caused by berthing delays and cargo processing bottlenecks.
Multiple container lines have planned general rate increases in numerous trade lanes in September and October...