JOC Rankings: Trans-Pacific NVOs struggle to maintain 2021 market share gains

A surge in shipper demand for NVO capacity in 2021 did little to open up long-term relationships opportunities with trans-Pacific intermediaries.

New Savannah tariff prods ocean carriers to pick up empties

The Georgia Ports Authority is lowering the number of empties carriers can store at its terminals and increasing fees for storing empties that exceed those allotments.

Trans-Pacific blanking static despite falling US imports

Trans-Pacific carriers in recent months slashed capacity to the West Coast as Asian imports and freight rates plummeted this summer, but the trade will likely continue to have excess capacity in the coming months unless they blank more capacity than is currently planned.

MSC disputes judge’s handling of FMC complaint

Mediterranean Shipping Co. maintains it cannot produce discovery in an FMC complaint stemming back to July 2021 because of Swiss law and is now disputing a judge’s determination to issue default judgment.

SIPG to invest $7 billion in new Shanghai container terminal

Shanghai International Port Group will begin construction on its new 11.5 million-TEU container terminal at the world’s busiest port complex next month, with completion expected in 2030.

Essential Reads

While the security guard contract is separate from the coastwide longshore deal being negotiated, officials are working feverishly to avoid a strike, given the possibility that dockworkers would honor any picket lines, thus shutting down affected terminals.
The Port of Oakland says increasing a long-dwell container fee is needed to reduce congestion on the docks, but the port’s largest terminal worries that could attract unwanted pushback from the FMC.
This year will mark the peak of container shipping profitability, with carriers entering an unavoidable downturn in the markets, according to global bank HSBC.
The recently ample supply of equipment has cut the price of new 40-foot containers by about 20 percent since late last year, and the price could soften further into 2023, according to Drewry.
There is still no silver-bullet carbon-neutral fuel solution available to the shipping industry, but the cost implications of decarbonizing the global maritime industry are becoming clearer, says DNV.