Container Shipping News

Spot freight rates on the westbound Asia-Europe trade dropped by 3.2 percent this week from the week before as the euro crisis continues to depress demand and vessel overcapacity blunted carrier effor

Shipping Corporation of India’s third quarter net profit fell 40 percent from a year ago to $15.12 million, as the state-owned ocean carrier’s rising operating expenses offset a revenue ga

Star Reefers swung to a $124 million net loss in 2011 from an $89,000 profit a year ago, as the Norwegian refrigerated ship operator was hit by record low freight rates and increased competition from

Containerized imports at the major U.S. gateways will decline in February, but volumes will pick up in the spring, according to the Global Port Tracker.

Containerized traffic at the Port of Los Angeles increased more than 5 percent year-over- year in January, as a ramp-up of Asian manufacturing ahead of the annual Chinese New Year celebration boosted

Excess vessel capacity and rate wars will doom liner efforts to hike rates on Asia-Europe services, said several shippers and forwarders.

The Indian Supreme Court's recent rejection of DP World’s appeal to review its rejected tender offer for a yet-to-be-built container terminal at the Port of Jawaharlal Nehru (Nhava Sheva) clears

Hapag-Lloyd‘s operating profit in 2011 declined 83 percent to $133 million from $770 million in 2010, but the German carrier bucked an industry-wide trend as one of the very few ocean lines to c

U.S. poultry and egg exports jumped 17 percent to a record $5.1 billion in value last year, as shipments of chicken and turkey hit record levels.

CMA CGM Group and IBM formed a partnership to develop a information technology unit to support the French carrier’s operations and reduce its costs.

CSAV lost $1.24 billion last year, including $959 million on continuing operations, but the Chilean carrier said its deficit narrowed during the fourth quarter and that a restructuring is starting to

Ron Widdows, the former chief of Singapore-based Neptune Orient Lines, will become CEO of Germany’s Rickmers Holding and Rickmers-Linie shipping group.

Average eastbound trans-Pacific spot rates fell this week for the first time in 2012 as vessel overcapacity and slack seasonal demand undermined carrier efforts to lift rates.

The Port of Galveston named Capt. Michael J Mierzwa as its new port director, effective Feb. 16.

German travel company TUI said it may try again to float its stake in Hapag-Lloyd as part of its bid to get completely out of the container shipping business.

Israel Corp, parent of Zim Integrated Shipping Services, said Tuesday it would provide the struggling carrier with $50 million as a "security net," and its controlling shareholder will

Retail sales rose less than expected in January largely because of discounting in the auto sector.

Pantos Logistics recently opened a 32,808-square-foot logistics center near the port of Laem Cabang, Thailand, as the third-party logistics provider aims to tap the growth of nearby auto and electroni

Matson Navigation’s fourth quarter operating profit fell 55 percent to $13 million as slumping trans-Pacific rates offset improved volume to Guam, parent Alexander & Baldwin said.

APM Terminals signed a preliminary agreement with Petkim Petrokimya Holding to operate a Port of Petkim terminal and expand the Turkish facility’s capacity to up to 3 million 20-foot equivalent

The International Maritime Bureau is warning vessels to stay clear of waters off Nigeria after pirates killed the captain and chief engineer of a bulk carrier Monday, the third attack in West African

Container ship owner-charterer Rickmers Maritime posted a $40.3 million net profit for 2011, reversing a $28.6 million loss in 2010, and said it expects “steady performance” this year desp

CEVA Logistics will launch two less-than-containerload services this month from Houston to Singapore and Jebel Ali, the United Arab Emirates, as the logistics provider aims to “link key geograph

The Japanese economy shrank 0.6 percent in the October-December quarter from the preceding quarter and 2.3 percent year-over-year, as weak exports spurred the first contraction in two quarters.

APL is joining the container shipping drive to push up pricing on shipments from Asia to Europe, announcing i

German tourism group TUI is set to sell a fresh tranche of shares in Hapag-Lloyd this week to the Albert Ballin consortium, the majority shareholder of the ocean container carrier.

India’s exports in January increased 10.1 percent year-over-year to $25.4 billion, the fastest growth rate in three months.

Rising labor costs in Asia. Fuel prices at record winter highs. Asian currencies revalued upward.

Aging cars require replacement parts and generate new-vehicle sales. When people move, they tend to buy new furniture.

The trans-Pacific market appears to have flipped. In a reversal of the established traffic patterns of the past three decades, U.S.

Germany will shut a canal linking the river Rhine to Hamburg, Europe’s second largest container port, late Friday night as the coldest February temperatures across Europe in almost three decades

Federal regulators found an illegal fungicide in three additional shipments of imported orange juice, bringing the total number ofshipments stopped at the U.S.

Middle East carrier Emirates Shipping Line will apply a two-phase general rate increase for cargo moving on its

APL will begin phasing out its U.S. fleet of container chassis during the first half of 2012.

Euroseas, the container and dry bulk ship owner, swung to a $1.1 million fourth quarter net profit from a $929,000 year-earlier loss, but the company forecast

Vessel layups and new shipping alliances will help push up container shipping freight rates in coming months but many operators still will struggle to return to profitability, one analyst.

Trying to maintain pricing momentum in the trans-Pacific, shipping lines that carry U.S.

The Port of Baltimore handled a record-number of containers and automobiles in 2011, as both cargos surpassed levels set before the 2009 recession.

Maersk Line will launch a container service between the Middle East and West Mediterranean, starting at the end of this month.

Mediterranean Shipping Company is adding Savannah to its weekly Golden Gate Service between the East Coast and Asia via the Suez Canal.