Container Shipping News

Shipping lines and shippers are apoplectic.

Profitability is back for carriers on Asia-Europe, but the onslaught of mega vessels into the trade threatens to put the brakes on their financial improvement.

The Hong Kong-based 300Cubits on Tuesday introduced the TEU, not the container unit.

Philly Shipyard said on July 21 it had signed a letter of intent with an unidentified “leading Jones Act carrier” for construction of two container ships.

Asia-Russia ocean shipping rates could decline 30 to 40 percent from current levels by the end of this year.

Danaos reported sharply lower earnings in the second quarter.

GSL’s fleet of 18 ships range in capacity from 2,262 TEU to 11,040 TEU.

The most reliable carrier in the quarter was Wan Hai.

Carriers on the Asia-Europe trade are heading for a vastly improved year.

The positive earnings statements come less than a month after the three established Ocean Network Express.

The New York Stock Exchange-listed company said it has begun the search for a new CEO.

The higher Asia-Europe rates, as well as trans-Pacific rate strength seen this week will help carriers end the year with $5 billion in profit.

Eastbound trans-Pacific spot rates this week surged by double-digits.

The double-digit second-quarter volume and revenue growth will come as good news to OOCL’s prospective new owner, China Cosco Shipping Holdings.

Carrier acquires 707-TEU ship to operate on the route.

Crowley Maritime operates three monthly sailings with 16-hour transits to Mariel, Cuba, from Port Everglades, Florida.

Surcharge comes as ports, carriers prepare for surge in synthetic resin exports.

At its heart, the container shipping system is driven by uncertainty, hurting shippers and carriers alike.

The opening of the new locks in June 2016 shifted the competitive advantage back to the Panama Canal.

Portland will have a better idea of the types of container business it can attract back to the port by year-end.

Finnlines posted the best first-half results in its history.

The DOD’s US Transportation Command (Transcom) confirmed the contract this week.

Carriers large and small battle for market share and profits in the Pacific.

Costamare’s earnings slipped in the second quarter.

Shares of Cosco Shipping have finally begun trading again in Shanghai after being suspended since May.

The move would build upon Samskip’s penetration of the shipping market between Norway and Northern Europe in recent years.

After six consecutive years of losses, the shipping industry headed for return to profits this year and next.

“We never know what’s going to show up,” said the president of Missionary Expediters.

A debt write-off agreement helped Diana Containerships' second-quarter earnings.

The market remains very active despite the summer vacation period in the northern hemisphere.

PIL has declined to speculate on the attractiveness of the mid-sized carrier as a takeover target.

The majority of ships deployed on Asia-Europe by the end of 2018 will be greater than 18,000 TEU, which will have implications for rate levels and ports.

The key Brazilian port of Santos’ efforts to bounce back from draft restrictions were set back this week.

West Coast rates have already fallen behind the spot rates in mid-July last year.

"It’s unethical,” says the Shippers Council of Bangladesh chairman.

The anticipated rate increases on Asia-Europe have yet to materialize with the spot rate falling for the third week in a row, despite a peak season volume surge.

“The info is wrong.”

The congestion appears to be worsening.

Pacific International Lines' traffic in US imports from Asia rose 67 percent year over year in the second quarter.

“The trade is doing much better than previously thought to be the case.”