Maritime News

Bunker prices sank an additional 8 percent last week, as a six month spiral has now led to a 50 percent decline in fuel prices.

Wilhelmshaven hailed its success in landing a third 2M service as a sign of ocean carriers’ growing interest in Germany’s only deep water port that is virtually empty more than two years after opening.

A China Shipping Container Lines (CSCL) executive has shrugged off demand forecasts predicting 3 to 5 percent market growth in the next few years that will not be enough to fill the capacity flooding into service.

Though many retailers initially began the holiday season with early shipping deadlines, shops clamoring for last-minute customers are testing fate with extended deadlines once again.

As labor negotiations between the Pacific Maritime Association and the International Longshore and Warehouse Union heated up this week, JOC readers clamored for information on the topic.

Concluding the final stage in its merger with Hapag-Lloyd, CSAV injected 259 million euros ($317 million) into the combined company and in doing so increased its shareholding to 34 percent in what is now the world’s fourth largest container line.

Carriers announced general rate increases that span into February this week, as spot rates around the globe respond to mid-December rate hikes. Drewry Maritime Research’s World Container Index composite index, which measures 11 East-to-West trade lanes, jumped a cumulative 35.8 percent this week.

Provisions to boost U.S.-flag ships’ required share of government-purchased food aid were deleted from the final version of a Coast Guard authorization bill that President Obama signed into law this week.

Indonesia’s largest port operator Pelabuhan Indonesia II (IPC) will partner with PSA International, Japanese investment company Mitsui & Co. and NYK Line to construct and operate a container terminal at Jakarta’s Tanjung Priok port.

A look back at the year’s host of general rate increases levied by shipping lines on their customers reveals the ineffectiveness of the practice, with no GRI sticking for longer than two weeks or achieving the sought after price hike.