Maritime News

Greek container ship-owner Danaos more than doubled second-quarter earnings as it continued to cut financing costs and increased its charter revenue.

Hawaiian shippers frustrated with high freight rates had their hopes for change dashed last week after a U.S. federal court rejected their bid to strike cabotage provisions from the U.S. Merchant Marine Act.

The slowdown in China’s economy poses some risks for container shipping, according to Drewry Maritime Research.

“It is a historic day – a day for removing barriers,” proclaimed U.S. Secretary of State John Kerry on July 20, as Cuba and America reopened their embassies and ended a 54-year diplomatic stalemate.

HONG KONG — Australia is preparing for a free trade agreement with its largest trading partner China that is se


Asia-Europe spot rates more than doubled this week, hitting highs that haven’t been seen in months and giving carriers a much-needed glimmer of hope.

Japan’s three largest container lines saw their net profits surge in the first quarter of fiscal 2015, buoyed by brisk container traffic volume from Asia to the United States as well as a weaker yen and lower fuel prices.

Although U.S. consumer spending is still lagging its potential this year, it is likely to pick up in the second half, but not enough to fill container vessels with the imports needed to support freight rate increases. That was the takeaway from Thursday’s JOC webcast on the Peak Season Shipping Forecast.

With piracy on the rise again, particularly in Southeast Asia, security professionals are recommending conducting more intensive screening of ship crews to create one less possible avenue for criminal elements to gain access to ships.

China Cosco Holdings has told investors it believes subsidies from Beijing for scrapping and upgrading its fleet will push the state-owned line to a $306 million first half net profit.