Yang Ming also announced two-year extensions of charters for four 14,000 TEU container ships, including the YM Wish and YM World that are currently deployed on Asia–Middle East services.
Maritime News
Maritime News
Maritime news articles about every aspect of the industry, including ports, container and breakbulk lines; and ships and ship chartering. Coverage also includes the impact of recent industry mergers and acquisitions, and of emerging new technologies such as blockchain, artificial intelligence, and the Internet of Things.
From the largest container lines such as Maersk Line, MSC (Mediterranean Shipping Co.), COSCO Shipping/OOCL, CMA CGM and Ocean Network Express (ONE), to smaller carriers such as SM Line and Eimskip, JOC.com covers the entire industry with unequaled intelligence, data, insight, statistics, and analysis. JOC.com regularly updates its proprietary data about the activity of largest ports, container lines, breakbulk lines and other stakeholders in the maritime shipping sector.
News & Analysis
11 Aug 2022
While spot rates are easing in some markets, Hapag-Lloyd said the second half of the year is likely to exceed previous expectations based on current performance.
10 Aug 2022
HMM said it would tackle the coming market uncertainty by focusing on long-term shipper contracts and increasing the volume of reefer and special cargoes.
09 Aug 2022
The Asia–Europe trade could face “significant overcapacity” when port congestion and related bottlenecks are resolved due to the slump in demand growth that has been ongoing for more than a year, according to analyst Sea-Intelligence.
08 Aug 2022
US retailers note that two wild cards that could affect supply chain fluidity in the second half of the year remain — the outcome of West Coast longshore contract talks and the status of freight railroad negotiations.
08 Aug 2022
Two of Taiwan’s largest carriers have joined Maersk, ONE, and Cosco in posting highly profitable financial results for the first half of 2022 amid a still-elevated rate environment compared to the year-ago period.
08 Aug 2022
MSC’s move would appear to show some skepticism among ocean carriers active on India trades about their ability to hold firm on new rate hikes in the wake of ongoing demand pressure.
05 Aug 2022
While some carriers have been willing to adjust shipping contracts, others are holding the line, anticipating that peak season, US port congestion, and the ability to blank sailings will keep the spot market afloat through the balance of the year.
04 Aug 2022
Container shipping trades out of Asia will continue to slow through the second half of the year as the global economy contracts, but carriers and analysts say it will be a gradual weakening of demand and rates rather than a sharp drop.
04 Aug 2022
Maritime regulators are wrestling with how to refine rulemaking on when it is unreasonable for carriers to refuse export bookings, writes JOC Executive Editor Mark Szakonyi.
03 Aug 2022
Carriers are reducing the intake of new containers and holding onto older units longer ahead of peak season and as congestion slows the circulation of boxes globally.
03 Aug 2022
Maersk’s strategy of aggressively expanding long-term contracts is paying off, and with many of the agreements covering multi-years, the carrier is set to reap the financial rewards far beyond 2022.
02 Aug 2022
A highly profitable second quarter and no sign of easing in congested container shipping markets has left Maersk on course for a significantly improved annual result.
01 Aug 2022
India cargo owners are now dealing with a fresh levy linked to container weight, along with a new wave of general rate increases and surcharges that have already found their way into the market ahead of peak shipping season.
01 Aug 2022
A new intra-Asia trade pact has helped boost container activity in the region, while volumes to Europe, the Mediterranean, and Africa have dipped as a result.
29 Jul 2022
US retailers have shifted some of their imports to the East Coast as a hedge against possible labor disruption at West Coast ports, a move that has caused vessel backlogs at major gateways along the eastern seaboard.
29 Jul 2022
Indian policymakers have had a heightened focus of late on the development of marine highways along the country’s vast river network in order to encourage a larger modal shift from land to sea.
29 Jul 2022
The enormous challenges of transitioning global shipping from fossil fuels to zero-carbon alternatives are coming into view, none more important than aligning private investors and governments to ensure decarbonization targets are met.
29 Jul 2022
ONE has extended its highly profitable run through its fiscal first quarter, building on last year’s stellar performance to turn in another record result.
29 Jul 2022
Retailers and forwarders in the eastbound trans-Pacific are facing an unusual dichotomy in which spot rates continue to deteriorate even though monthly import volumes from Asia remain at record or near-record levels.
28 Jul 2022
Average rate levels secured by Hapag-Lloyd were up 80 percent through the first half, setting the carrier on course for another hugely profitable year.
27 Jul 2022
Even after Schauer sold Orion Marine to OL International Holdings, he continued to consult and field calls from clients around the world looking to him for guidance.
26 Jul 2022
Carriers have told JOC.com they do not want to base the economics of a long-term agreement with the ILA on the relatively short-term — and highly profitable — economic conditions of the past two years.
22 Jul 2022
Maersk is the first carrier to outline the cost to shippers of complying with Europe’s impending emissions trading rules, but other carriers want greater clarity before committing to any surcharges.
21 Jul 2022
The Port of Philadelphia is prioritizing the densification of the Packer Avenue Marine Terminal and looking to open new near-dock storage as it readies for post-Panamax ship calls.
19 Jul 2022
Idle containers are stacking up by the thousands in North America and Europe, but supply is plentiful at origin points in Asia, demonstrating the vast contrast in equipment fluidity at opposite ends of the supply chain.
18 Jul 2022
Yilport's Robert Yildirim tells JOC Executive Editor Mark Szakonyi the container shipping industry is well-poised to keep up profits through an expected slowdown in global container volumes in the fourth quarter and into next year.
18 Jul 2022
Spot rates for ocean freight from Asia to the US East Coast have fallen as order cancellations by US shippers frees up vessel space.
15 Jul 2022
In a bid to maintain schedule integrity, carriers such as MSC and Hapag-Lloyd are implementing network changes on services from India to North Europe and the US East Coast.
14 Jul 2022
The US Federal Maritime Commission is casting a wider net for potential investigations into container demurrage and detention billing with new steps for initiating complaints.
14 Jul 2022
US imports from Asia hit a record for the month of June as consumers seemingly shrugged off rising inflation and maintained recent spending habits.
14 Jul 2022
South Korea’s highly profitable HMM has announced a massive investment plan that will extend the carrier’s reach deeper into the container supply chain.
13 Jul 2022
Wage negotiations between a German union and port employers have again failed to reach a settlement, with a two-day strike set to start Thursday as vessel congestion persists.
12 Jul 2022
OSRA-22's immediate requirement for accurate billing of detention and demurrage fees has set off a scramble among ocean carriers and marine terminal operators to update their invoicing practices and systems.
12 Jul 2022
The competition regulations applied to container shipping are no longer fit for purpose and need a major revamp, according to the OECD’s International Transport Forum.
12 Jul 2022
The Digital Container Shipping Association is ramping up efforts to drive electronic bill of lading adoption by working with four technology vendors and a major shipper to ensure their products are interoperable.
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Commentary
Time for a new chassis model in the US
Manufactured hurdles impede progress on decarbonization goal
Restarting the containerized supply chain post-pandemic
TPM20 brings liner déjà vu
Sailing to the zero-emission future