The first of the third quarter results from the carriers have come in and they show an industry that is riding a wave of strong and sustained demand from the US and Europe.
Saturday October 31, 2020
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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
30 Oct 2020
It is impossible to predict the outcome of the current wave of the pandemic, but if it results in a pull-back from consumers, carriers are likely to react at warp speed again on capacity.
30 Oct 2020
The disruption and unpredictability caused by the pandemic earned trans-Pacific carriers some early 2020 patience from their customers, but that goodwill is fading as service and price diverge sharply as contract talks near
30 Oct 2020
US shippers are opening contract talks early, extending existing agreements, and seeking short-term contracts to hedge against expected 2021 rate increases.
29 Oct 2020
Small steps taken thus far on decarbonization don’t address the big question, which is how shipping will reach a carbon-free future; so far, no mechanism or policy has encouraged the type of research needed at scale to identify the path forward.
28 Oct 2020
A network of major banks in Singapore has signed an agreement with CargoX, which provides electronic bills of lading to the shipping industry, to underpin the network’s trade finance capability.
26 Oct 2020
Although economic forecasts point to a possible weakening in consumer demand, carriers are expected to continue the capacity management discipline they have displayed all year to prevent rate destruction in the trans-Pacific trades
26 Oct 2020
The on-time performance of carriers has declined sharply since a 2020 high in June when large amounts of capacity were blanked
26 Oct 2020
Alternatives to expensive air freight have been available on the trans-Pacific for years, but as space constraints make air cargo an increasingly unreliable option, a new expedited ocean product will soon be launched on the trans-Atlantic
23 Oct 2020
US exporters are crying foul as at least one trans-Pacific carriers has begun turning down shipments of low-revenue agricultural exports in order to expedite the return of empty containers to Asian load ports to carry much higher-paying US imports of consumer merchandise.
23 Oct 2020
The strength of third quarter demand and the rate rises generated on the major trades through the peak season can be seen in the revenue and volume growth reported by OOCL.
22 Oct 2020
Asia–Europe demand forecasts for 2021 are becoming increasingly unclear as annual contracts come to an end, while high spot market levels have put shippers on course for significant long-term rate increases.
22 Oct 2020
TradeLens will use the integration specialist Youredi to offer data providers and consumers on its platform the option to connect their systems to the container visibility and documentation product co-developed by Maersk and IBM.
21 Oct 2020
COVID-19 lockdowns in February, March, and April shuttered major end markets for US resins, such as automobile parts manufacturers in Europe and China, the largest single-country consumer of resin.
20 Oct 2020
System integration provider Youredi is trying to attract logistics and maritime companies to help it build a new template-based integration platform for data and partner connectivity.
20 Oct 2020
A new set of data definitions for terminals and container lines to coordinate port calls was released Tuesday by the Digital Container Shipping Association, the non-profit group’s latest attempt to drive standardization in the maritime industry.
19 Oct 2020
Shippers contend with a lack of transparency when it comes to container lines communicating changes for the earliest return date for their boxes, creating operational headaches for cargo owners already affected by tariffs and COVID-19, new research has found.
19 Oct 2020
The need for alternatives to capacity-constrained air freight, combined with rapidly growing online shopping demand, is behind the expansion of e-commerce ocean services.
19 Oct 2020
Despite all the noise around the current lofty spot rate market, more subtle, but important, changes are sneaking into the market that provide guidance on where things may be headed in coming years, with premium services a good place to start.
19 Oct 2020
While a stable and predictable environment is clearly preferred to optimize supply chains, the reality is that due to the pandemic fallout, the markets themselves are neither stable nor predictable.
16 Oct 2020
Analyst Drewry has joined Maersk and Hapag-Lloyd in substantially raising its full-year profitability guidance for the container shipping industry.
15 Oct 2020
Container allocation capability among cargo owners is improving, but digital procurement is still not all that common, logistics technology veteran Martin Hubert told JOC Uncharted this week.
15 Oct 2020
On the same day Hapag-Lloyd upped its financial outlook, Moody’s Investors Service raised the carrier’s credit rating by one notch, with a stable outlook.
15 Oct 2020
TradeLens said Thursday that Maersk’s liner competitors MSC and CMA CGM are both “fully integrated” into the platform, which could make it more appealing for cargo owners and 3PLs to use the blockchain-based solution.
14 Oct 2020
Services featuring expedited transit times and premium cargo handling continue to gain popularity in the booming trade between China and Los Angeles-Long Beach.
14 Oct 2020
A huge volume of imports from China that was concentrated mostly in Los Angeles and Long Beach produced a banner month for the Southern California port complex in September.
14 Oct 2020
Carriers are seeking equipment surcharges or premium service charges as Indian shippers scramble to secure outbound vessel space in a market that is seeing more exports than imports.
13 Oct 2020
The sustained recovery of demand across its major markets, combined with effective cost-cutting measures, have driven Maersk to once again ramp up its full-year guidance.
12 Oct 2020
This year’s peak season promises to be tumultuous, but 2021 could be just as difficult for shippers as 2020.
12 Oct 2020
Interest among carriers in smart containers and improved cargo visibility has grown in recent years, and now the pace is quickening as carriers show more willingness to listen to customer demands for improved service and visibility.
12 Oct 2020
CMA CGM appears to finally be on top of the cyber attack that took the carrier offline for two weeks and disrupted its global online network.
09 Oct 2020
The extreme volatility in demand on the two main east-west container shipping trades is severely testing containerized supply chains.
08 Oct 2020
US retailers are stepping up their purchase orders and import projections for the rest of the year in order to avoid a repeat of the stock outages that occurred this summer.
08 Oct 2020
While factors like large-scale sailing cancelations and the failure of shippers to return containers in a timely fashion have contributed to India’s equipment imbalance, a steady deceleration in imports is seen as the primary cause of the current problem.
07 Oct 2020
Although the growth in US imports decelerated slightly in September from August, the double-digit, year-over-year monthly increase indicates there is still strong momentum for the coming months.
07 Oct 2020
Carriers are riding high on a profitable wave of record rates, surprisingly strong demand, and lower fuel costs, but there is no consensus among analysts and ratings agencies on whether it will be sustainable.
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Commentary
Navigating 2019 ocean contracting
Could the latest US port congestion have been avoided?
Container challenges of 2019 to echo years past
Three issues certain to impact 2019 trade
The collapsible container’s superior economics