Peter T. Leach

Peter T. Leach is senior editor with The Journal of Commerce. He is based in New York.

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Maersk Line container ship
 
The P3 Network announced today between Maersk Line, Mediterranean Shipping Co. and CMA CGM will have little or no impact on the glut of vessel capacity that has been depressing global freight rates, but will enable the world’s three largest container lines to substantially cut their operating costs on the Asia-Europe, trans-Pacific and trans-Atlantic trades.

Latest Tweets

PeterTLeach said: Clarksons: The 17 boxships of 38,066 TEUs sold for demolition in May bring YTD scrap total to 84 boxshipsof 182,039 TEUs.
PeterTLeach said: No capacity glut here: Car carriers are filling up as global car trade jumps 7.2 %. http://t.co/cZYSRt8hxy
PeterTLeach said: Clarksons on carrier GRIs:"There is little evidence to show that capacity will be tightened enough to reverse the destructive rate trend."
PeterTLeach said: More African CATs? Caterpillar's South African distributor sees African sales growing 10% per year. http://t.co/UXUEfiT7bm
PeterTLeach said: That's one heck of a big ship: The 18,250-TEU Maersk Mc-Kinney Moller sets sail from South Korean shipyard. http://t.co/ljiGe5J1ja
PeterTLeach said: Green shoots in Europe: NYTimes sees hopful signs in slowing of rate of decline. http://t.co/AC12XYuT78
PeterTLeach said: Signs of life? German exports rose more than forecast, as Asia, U.S. trade helps offset Eurozone recession. http://t.co/JDxqR43p8d
PeterTLeach said: Maersk European ops head: Container growth dropping to 1.5X global GDP, vs 3X before recession as outsourcing slows. http://t.co/fzMFwFuvIk
PeterTLeach said: GPA head Curtis Foltz: "We're seeing almost as much volume coming through Suez as through Panama, though Panama volume has not declined."
PeterTLeach said: Rickmers CEO Ron Widdows: It would certainly be helpful for the box market if the people who have overgrown the market give it a rest.

More from Peter T. Leach

 
U.S. East Coast ports experienced widely varying impacts from the months-long threat of labor strife that began last year with the breakdown of talks for a new International Longshoremen’s...
 
Ship finance is so scarce that the glut of vessel capacity that’s depressing freight rates in the major east-west trades this year could vanish by 2016 unless shipowners and shipping lines find new...
crystal ball
 
The outlook for the success of the freight rate increases the major ocean carriers have announced for July 1 on many global trade lanes is decidedly mixed. With the overcapacity of vessel space still...
 
Congressional reauthorization to start dredging may be waiting in the wings, but the Georgia Ports Authority isn’t waiting around for the $652 million in funding before beginning work on its long-...
New York Container Terminal
 
The continued existence of the New York Container Terminal, long the most productive terminal in New York harbor, is mired in negotiations with the Port Authority of New York and New Jersey.
 
After years of consumer retrenchment, especially on big-ticket purchases, the improving U.S. housing market is fueling demand for household appliances such as dishwashers, refrigerators, air...
Worker at China apparel factory
 
For all the talk about near-sourcing to Central America or the shift in production to Vietnam, China remains the dominant supplier of U.S. apparel imports. In fact, China’s share of the U.S. apparel...
Sears storefront at mall
 
Like a gardener pruning a rosebush, Sears Holdings continuously prunes and reshapes its supply chain to reduce the cost of sourcing and cut the time it takes to get products into its stores. It’s all...
 
Trans-Pacific container lines got a reprieve from sliding freight rates this week when they put a general rate increase into effect on May 21, but freight rates are likely to continue to slide in the...
 
The boom in U.S. oil and gas production is transforming the infrastructure needed to deliver carbon-based fuels throughout the U.S. and especially in the Gulf ports that have traditionally served as...