<div class="phx-topic abstract-wrapper">It’s been a little more than three months since the inaugural statements of the new Greek government, dominated by its radical-left Syriza component, said it would block sales of national strategic assets.</div>

It’s been a little more than three months since the inaugural statements of the new Greek government, dominated by its radical-left Syriza component, said it would block sales of national strategic assets.

<div>ATHENS — It’s been a little more than three months since the inaugural statements of the new Greek government, dominated by its radical-left Syriza component, said it would block sales of national strategic assets.In February, the country’s largest port of Piraeus was one such asset on the auction block, and Greek shipowners were in the firing line because of their tax privileges.Incoming finance minister Yanis Varoufakis commented at the time, “It’s not a smart move to sell off the family jewels in the middle of a fiscal crisis. It is wiser to develop state property and increase its value.”Today, after...

ATHENS — It’s been a little more than three months since the inaugural statements of the new Greek government, dominated by its radical-left Syriza component, said it would block sales of national strategic assets. In February, the country’s largest port of Piraeus was one such asset on the auction block, and Greek shipowners were in the firing line because of their tax privileges. Incoming finance minister Yanis Varoufakis commented at the time, “It’s not a smart move to sell off the family jewels in the middle of a fiscal crisis. It is wiser to develop state property and increase its value.” Today, after a lot of water under the bridge in a relatively short time, the Greek government is in advanced talks with COSCO to sell a 51 percent stake in the port of Piraeus to the Chinese conglomerate. Also, the lines of communication between the Greece’s government and shipowners are wide open, while a large amount of Greece’s infrastructure – such as 14 public airports – might soon be offered to bidders. These moves, anathema to the rhetoric of the freshly elected government at the start of 2015, represent a U-turn from the main ruling party, Syriza, which previously resisted privatization forced on Athens as part of Greece’s bailout by the International Monetary Fund, the European Central Bank and European Commission. On May 15, economy minister George Stathakis responded, “The government is not in favor of a flat tax rate for the sector” when questioned about the country’s shipbuilding industry. “We can support this industry. We can shape the trend where Greek shipowners turn to shipyards abroad and especially in the East. We must find ideas to reverse this trend, so that even when shipbuilding is carried out abroad, a major part of it takes place here,” he said. The government is also expected to get behind the European Union’s short-sea shipping push. The strengthening of short-sea shipping is among the main priorities of the EU’s Maritime Transport Policy until 2018. Specifically, its Athens Declaration recognizes the significant role of short-sea shipping, highlighting its future contribution for ensuring accessibility and trade flows and achieving the shifting of long-distance transport away from roads. “Greek short-sea shipowners anticipate that the Greek government will support the Athens Declaration and will contribute to the implementation of all the decisions made in the context of the Integrated Maritime Policy of the EU,” the president of the Hellenic Shortsea Shipowners Association Charalambos Simantonis, said. “HSSA is and will keep collaborating with the government on multiple levels of common interest in order to address challenges and exploit new opportunities,” he added. “Personally, I cannot imagine the reason to sell a majority of shares in such strategic ports as Piraeus and Thessaloniki. This is an abdication of responsibility against the Greek ports’ interest and development,” said European MP Knut Fleckenstein, rapporteur on the European Commission proposal for regulating market access to port services and financial transparency of ports. Dimitrios Theologitis, head of ports and inland navigation in the European Commission directorate-general for mobility and transport (DG MOVE), said that the “institutions” have talked before about the need for privatization. “The institutions have never, though, specified the precise amount. It’s up to the government to decide and move on with the bidding process. We estimate that the Greek authorities will carefully consider their options in favor of the port.” The Hellenic Republic Asset Development Fund, known in Greece as TAIPED, has on its books a large range of government assets. A representative of the fund recently said little can progress until Greece and the EU agree about restructuring. “It is expected that things will move much faster with the completion of the negotiations,” said Thodoris Dritsas, Greece’s deputy minister of shipping. She added Athens has cut down the percentage of Piraeus to be sold from 67 percent to 51 percent, but this may not be binding. If COSCO succeeds, it would be able to buy the remaining 16 percent in five years, as long as all the investments in the agreement have been completed, she pointed out. This story originally appeared in IHS Maritime Fairplay

International ports

Greece warms to shipping sector

<div class="phx-topic abstract-wrapper">Partnering with Better Trucks, Uber is building a “middle-mile” network for last-mile deliveries as shippers seek lower-cost transportation solutions. </div>

Partnering with Better Trucks, Uber is building a “middle-mile” network for last-mile deliveries as shippers seek lower-cost transportation solutions.

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<div class="phx-topic">Urgent shipper need for lower costs is creating opportunities in the last-mile logistics market that Uber Freight hopes to seize. The logistics company on Thursday said it is partnering with delivery platform Better Trucks to expand its last-mile capabilities. Speed and reliability are still “table stakes” for shippers seeking last-mile delivery options, but lower cost has moved from a “want” to a “must have” amid tariffs and softening demand, said Hany Elkordy, head of logistics and last-mile at Uber Freight. “Affordability” is as much on the minds of shippers as it is consumers, Elkordy told the Journal of Commerce. “Cost is rearing its head as a much bigger problem,” he said. “People are going to be laid off if companies can’t solve that cost problem.” Those people could include logistics managers who can’t lower transportation costs fast or far enough as companies try to balance inventory carrying costs, prices for goods and inputs, and unpredictable demand. Shippers are being pressed to do more with less. In recent conversations with the Journal of Commerce, shippers have said they are trying to reduce costs by narrowing their number of service providers, seeking alternatives to higher-priced carriers, especially parcel carriers UPS and FedEx; and extending payment periods. “There is massive pressure on companies to reduce their costs, and transportation is the largest cost item in their (profit and loss),” Elkordy said. That pressure is felt by carriers and logistics providers as well, setting up difficult 2026 contract talks with customers. “UPS and FedEx continue to drive general rate increases every single year, and that’s really what’s driving the impetus in last-mile logistics now,” Elkordy said. “Merchants and e-commerce players, especially smaller players, are looking for alternatives.” <h3>Expanding partnership </h3>Uber Freight is not a newcomer to the last-mile market, but it plans to grow there by expanding an existing partnership with Better Trucks, a digital last-mile platform with a network of warehouses and sortation centers using independent drivers. The expanded partnership, which includes an undisclosed investment by Uber Freight, gives Uber access to that network and use of Better Trucks’ technology. It also fits an overall strategy of expansion from Uber Freight’s truckload base into other modes. Elkordy is drawing on lessons from Amazon, Walmart and Chewy, where he did previous stints, in building Uber Freight’s last-mile delivery network. “We’re building a middle-mile network first that a regional delivery provider can plug into,” he said. “Amazon did this, building out a network for delivery service partners, but it’s still serving mostly its own demand,” Elkordy said. Uber Freight wants to build a similar network using last-mile service partners, and Better Trucks’ technology will help tie it all together. “We help them connect geographies, and they help us with technology powering the final mile,” technology Uber Freight will be able to use in its own network, Elkordy said. Contact William B. Cassidy at <a href="mailto:bill.cassidy@spglobal.com">bill.cassidy@spglobal.com</a>. </div>

Urgent shipper need for lower costs is creating opportunities in the last-mile logistics market that Uber Freight hopes to seize. The logistics company on Thursday said it is partnering with delivery platform Better Trucks to expand its last-mile capabilities. Speed and reliability are still “table stakes” for shippers seeking last-mile delivery options, but lower cost has moved from a “want” to a “must have” amid tariffs and softening demand, said Hany Elkordy, head of logistics and last-mile at Uber Freight. “Affordability” is as much on the minds of shippers as it is consumers, Elkordy told the Journal of Commerce. “Cost is rearing its head as a much bigger problem,” he said. “People are going to be laid off if companies can’t solve that cost problem.” Those people could include logistics managers who can’t lower transportation costs fast or far enough as companies try to balance inventory carrying costs, prices for goods and inputs, and unpredictable demand. Shippers are being pressed to do more with less. In recent conversations with the Journal of Commerce, shippers have said they are trying to reduce costs by narrowing their number of service providers, seeking alternatives to higher-priced carriers, especially parcel carriers UPS and FedEx; and extending payment periods. “There is massive pressure on companies to reduce their costs, and transportation is the largest cost item in their (profit and loss),” Elkordy said. That pressure is felt by carriers and logistics providers as well, setting up difficult 2026 contract talks with customers. “UPS and FedEx continue to drive general rate increases every single year, and that’s really what’s driving the impetus in last-mile logistics now,” Elkordy said. “Merchants and e-commerce players, especially smaller players, are looking for alternatives.” Expanding partnership Uber Freight is not a newcomer to the last-mile market, but it plans to grow there by expanding an existing partnership with Better Trucks, a digital last-mile platform with a network of warehouses and sortation centers using independent drivers. The expanded partnership, which includes an undisclosed investment by Uber Freight, gives Uber access to that network and use of Better Trucks’ technology. It also fits an overall strategy of expansion from Uber Freight’s truckload base into other modes. Elkordy is drawing on lessons from Amazon, Walmart and Chewy, where he did previous stints, in building Uber Freight’s last-mile delivery network. “We’re building a middle-mile network first that a regional delivery provider can plug into,” he said. “Amazon did this, building out a network for delivery service partners, but it’s still serving mostly its own demand,” Elkordy said. Uber Freight wants to build a similar network using last-mile service partners, and Better Trucks’ technology will help tie it all together. “We help them connect geographies, and they help us with technology powering the final mile,” technology Uber Freight will be able to use in its own network, Elkordy said. Contact William B. Cassidy at bill.cassidy@spglobal.com .

Trucking News

Last Mile News

Surface

Supply chain

Uber Freight pushes deeper into last-mile freight market

<div class="phx-topic abstract-wrapper">Responding to market weakness that resulted in an 83% year-on-year decline in third-quarter profits, the carrier said it is “optimizing operations by adjusting port calls and vessel deployment across trade lanes.” </div>

Responding to market weakness that resulted in an 83% year-on-year decline in third-quarter profits, the carrier said it is “optimizing operations by adjusting port calls and vessel deployment across trade lanes.”

<div class="phx-topic">HMM is targeting high-yield cargo and new shipping services as part of measures to help offset the poor market outlook, South Korea’s leading carrier said Thursday after unveiling an 83% slump in third-quarter net profit. “Market conditions are expected to remain weak in the fourth quarter due to the traditional year-end slack season,” the carrier said in an earnings statement. “Continued uncertainty is also anticipated due to evolving US tariff policies.” Responding to this weakness, HMM is “optimizing operations by adjusting port calls and vessel deployment across trade lanes,” the carrier said. “HMM is also focusing on high-yield cargo segments such as reefer cargo, out-of-gauge shipments and other special cargo, while exploring new trade routes to improve profitability,” it added. HMM did not provide details on the changes it is considering. That came as the carrier’s third-quarter net profit slumped to $208 million from $1.2 billion in the year prior period due to significantly lower freight rates in what HMM described as a volatile market. Revenue fell 24% to $1.8 billion between July and September from $2.4 billion a year earlier. Highlighting the drop in freight rates, HMM said the Shanghai Containerized Freight Index (SCFI) averaged 1,481 points in the third quarter, down 52% from 3,082 points in the same period last year. “Despite lower freight rates, HMM maintained a stable operating margin of 11%, (which) reflects continued efforts in cost optimization and efficient operations,” said the carrier, ranked eighth-largest in terms of capacity by Sea-web, a sister company to the Journal of Commerce within S&amp;P Global. HMM said cumulative net profit fell 48% to $1 billion for the first nine months of the year, against $1.9 billion last year. Revenue for the nine months slipped 4% to $5.6 billion. Contact Keith Wallis at <a href="mailto:keithwallis@hotmail.com">keithwallis@hotmail.com</a>. </div>

HMM is targeting high-yield cargo and new shipping services as part of measures to help offset the poor market outlook, South Korea’s leading carrier said Thursday after unveiling an 83% slump in third-quarter net profit. “Market conditions are expected to remain weak in the fourth quarter due to the traditional year-end slack season,” the carrier said in an earnings statement. “Continued uncertainty is also anticipated due to evolving US tariff policies.” Responding to this weakness, HMM is “optimizing operations by adjusting port calls and vessel deployment across trade lanes,” the carrier said. “HMM is also focusing on high-yield cargo segments such as reefer cargo, out-of-gauge shipments and other special cargo, while exploring new trade routes to improve profitability,” it added. HMM did not provide details on the changes it is considering. That came as the carrier’s third-quarter net profit slumped to $208 million from $1.2 billion in the year prior period due to significantly lower freight rates in what HMM described as a volatile market. Revenue fell 24% to $1.8 billion between July and September from $2.4 billion a year earlier. Highlighting the drop in freight rates, HMM said the Shanghai Containerized Freight Index (SCFI) averaged 1,481 points in the third quarter, down 52% from 3,082 points in the same period last year. “Despite lower freight rates, HMM maintained a stable operating margin of 11%, (which) reflects continued efforts in cost optimization and efficient operations,” said the carrier, ranked eighth-largest in terms of capacity by Sea-web, a sister company to the Journal of Commerce within S&P Global. HMM said cumulative net profit fell 48% to $1 billion for the first nine months of the year, against $1.9 billion last year. Revenue for the nine months slipped 4% to $5.6 billion. Contact Keith Wallis at keithwallis@hotmail.com .

Container lines

Container Shipping News

Maritime

HMM to chase high-yield freight, new shipping routes after slump in Q3 profits

<div class="phx-topic abstract-wrapper">The rebels are incentivized to keep up some level of threat in the Red Sea because they are loathe to give up leverage that generates financial and military support, according to an S&amp;P Global analyst.</div>

The rebels are incentivized to keep up some level of threat in the Red Sea because they are loathe to give up leverage that generates financial and military support, according to an S&P Global analyst.

<div class="phx-topic">The announcement this week by Houthi rebels operating in Yemen that they will pause attacks on Israel and commercial shipping is the latest development pointing to the potential resumption of most container trade through the Red Sea and Suez Canal. But while the development can be viewed as a de-escalation of regional tensions, shipping through the Red Sea “remains a severe risk,” and the last six weeks with no attacks has coincided with the rebels rebuilding damaged infrastructure and rearming, warns Jack Kennedy, head of Middle East and North Africa country risk at S&amp;P Global Market Intelligence. Container ship diversions away from the Red Sea began in late 2023 following the first Houthi attacks soon after the start of the Israel-Hamas war, soaking up between 8% and 12% of global tonnage — depending on varying estimates from analysts and carriers — due to longer transits around southern Africa. “We think that the ceasefire is likely to stay in place for as long as there is commitment for the hostage exchanges to continue,” Kennedy told the Journal of Commerce on Tuesday. But he added that he expected some form of military operations to begin again in Gaza in the medium term, which would then likely trigger a Houthi response. A posting on X, formerly Twitter, on Sunday of an undated Houthi letter stated that the group would resume attacks in the Red Sea if the Gaza ceasefire ended. Major ocean carriers have welcomed the ceasefire that was struck on Oct. 18, but have been cautious on giving any timeline other than ruling out a return in the short term. The ceasefire hasn’t entirely stopped Israel’s attacks on Hamas forces. <h3>Carriers continue to monitor developments </h3>Maersk CEO Vincent Clerc last week said that the carrier was encouraged by the Gaza ceasefire but would need to make sure the agreement “is entrenched and doesn’t risk going backward at some point.” CMA CGM, along with some small container lines, is the only major ocean carrier to operate a single continued service via the Red Sea through the Suez Canal, with its ships often escorted by the French Navy. CMA CGM’s <a href="https://www.joc.com/article/cma-cgm-alliance-megaships-test-red-sea-waters-on-return-to-asia-6105787">two 18,000-TEU ships</a> that transited the Red Sea last week, however, were ad hoc sailings that returned to their southern Africa loops. The carrier said it had no plans to deploy larger ships through the Suez regularly. CMA CGM and SeaLead last month expanded the coverage of each of their services that pass through the narrow Bab al-Mandab Strait at the southern end of the Red Sea. CMA CGM routed nearly 1.5 million TEUs of tonnage through the Suez Canal in the first 10 months of the year, while SeaLead routed nearly 600,000 TEUs of tonnage in the same period, according to an Alphaliner analysis. After the US Department of the Treasury on Aug. 1 sanctioned Iran-linked individuals and organizations, Singapore-based ocean carrier <a href="https://www.joc.com/article/new-us-sanctions-on-iran-cut-sealeads-vessel-fleet-by-one-third-6055714">SeaLead was forced to terminate charters</a> for 16 vessels.Judging that the recent Houthi announcement of a pause in attacks is likely tactical, Kennedy said the fighters are incentivized to keep up some level of threat. That’s because they are loathe to give up leverage generating financial and military support, or cede ground in their simmering stalemate with the Yemeni government. In exchange for safe passage through the region, the Houthis <a href="https://www.arabnews.com/node/2577909/middle-east">collect approximately $180 million monthly from shipping agencies</a>, according to an unreleased United Nations report. S&amp;P Global is the parent company of the Journal of Commerce. Contact Mark Szakonyi at <a href="https://www.joc.com/article/mark.szakonyi@spglobal.com">mark.szakonyi@spglobal.com</a>.</div>

The announcement this week by Houthi rebels operating in Yemen that they will pause attacks on Israel and commercial shipping is the latest development pointing to the potential resumption of most container trade through the Red Sea and Suez Canal. But while the development can be viewed as a de-escalation of regional tensions, shipping through the Red Sea “remains a severe risk,” and the last six weeks with no attacks has coincided with the rebels rebuilding damaged infrastructure and rearming, warns Jack Kennedy, head of Middle East and North Africa country risk at S&P Global Market Intelligence. Container ship diversions away from the Red Sea began in late 2023 following the first Houthi attacks soon after the start of the Israel-Hamas war, soaking up between 8% and 12% of global tonnage — depending on varying estimates from analysts and carriers — due to longer transits around southern Africa. “We think that the ceasefire is likely to stay in place for as long as there is commitment for the hostage exchanges to continue,” Kennedy told the Journal of Commerce on Tuesday. But he added that he expected some form of military operations to begin again in Gaza in the medium term, which would then likely trigger a Houthi response. A posting on X, formerly Twitter, on Sunday of an undated Houthi letter stated that the group would resume attacks in the Red Sea if the Gaza ceasefire ended. Major ocean carriers have welcomed the ceasefire that was struck on Oct. 18, but have been cautious on giving any timeline other than ruling out a return in the short term. The ceasefire hasn’t entirely stopped Israel’s attacks on Hamas forces. Carriers continue to monitor developments Maersk CEO Vincent Clerc last week said that the carrier was encouraged by the Gaza ceasefire but would need to make sure the agreement “is entrenched and doesn’t risk going backward at some point.” CMA CGM, along with some small container lines, is the only major ocean carrier to operate a single continued service via the Red Sea through the Suez Canal, with its ships often escorted by the French Navy. CMA CGM’s two 18,000-TEU ships that transited the Red Sea last week, however, were ad hoc sailings that returned to their southern Africa loops. The carrier said it had no plans to deploy larger ships through the Suez regularly. CMA CGM and SeaLead last month expanded the coverage of each of their services that pass through the narrow Bab al-Mandab Strait at the southern end of the Red Sea. CMA CGM routed nearly 1.5 million TEUs of tonnage through the Suez Canal in the first 10 months of the year, while SeaLead routed nearly 600,000 TEUs of tonnage in the same period, according to an Alphaliner analysis. After the US Department of the Treasury on Aug. 1 sanctioned Iran-linked individuals and organizations, Singapore-based ocean carrier SeaLead was forced to terminate charters for 16 vessels. Judging that the recent Houthi announcement of a pause in attacks is likely tactical, Kennedy said the fighters are incentivized to keep up some level of threat. That’s because they are loathe to give up leverage generating financial and military support, or cede ground in their simmering stalemate with the Yemeni government. In exchange for safe passage through the region, the Houthis collect approximately $180 million monthly from shipping agencies , according to an unreleased United Nations report. S&P Global is the parent company of the Journal of Commerce. Contact Mark Szakonyi at  mark.szakonyi@spglobal.com .

Asia-Europe

Houthi pause on shipping attacks lowers tensions, but risk remains

<div class="phx-topic abstract-wrapper">Doug Otto will serve a 17-month term at the helm of the port due to previous plans to retire in early 2027, but will oversee projects that aim to position Mobile as a gateway for reaching inland US markets. </div>

Doug Otto will serve a 17-month term at the helm of the port due to previous plans to retire in early 2027, but will oversee projects that aim to position Mobile as a gateway for reaching inland US markets.

<div class="phx-topic">The Port of Mobile has chosen its chief engineer to lead the port as it looks to complete some $700 million in capital improvements through 2027. The Alabama Port Authority said in a statement Wednesday its board of directors appointed Douglas Otto as its new director and chief executive, effective immediately. Otto will serve as director through March 2027, the statement said, due to his previously planned retirement. He had been serving in the role on an interim basis since late August following the departure of previous CEO John Driscoll. Otto has been the port’s chief engineering officer since 2024, taking that role two years after joining the port as a vice president of engineering. Otto’s 17-month term as director will coincide with a slate of new and ongoing capital projects that Mobile hopes to complete. The largest of those projects was completed last month — <a href="https://www.joc.com/article/harbor-deepening-primes-mobile-for-bigger-ships-first-us-calls-6092987">the $425 million dredging of Mobile’s harbor</a> that will make it the deepest in the Gulf Coast. Mobile’s container terminal operator APM is in the process of completing its fourth expansion at $147 million, <a href="https://www.joc.com/article/mobile-looks-to-boost-container-terminal-capacity-to-handle-intermodal-demand-5215600">which includes adding more yard space and a flyover bridge for moving containers to its railyard</a>. Mobile and APM are also jointly building a third berth for the terminal, which will cost $131 million and bring its capacity to about 1.4 million TEUs per year. Mobile, which is positioning itself as a gateway for intermodal rail cargo for the Southeast, is also looking to complete construction of a $100 million railyard in Montgomery operated by CSX Transportation. Mobile is also undertaking $330 million in projects related to its general-purpose docks and coal terminal. Contact Michael Angell at <a href="mailto:michael.angell@spglobal.com">michael.angell@spglobal.com</a>. </div>

The Port of Mobile has chosen its chief engineer to lead the port as it looks to complete some $700 million in capital improvements through 2027. The Alabama Port Authority said in a statement Wednesday its board of directors appointed Douglas Otto as its new director and chief executive, effective immediately. Otto will serve as director through March 2027, the statement said, due to his previously planned retirement. He had been serving in the role on an interim basis since late August following the departure of previous CEO John Driscoll. Otto has been the port’s chief engineering officer since 2024, taking that role two years after joining the port as a vice president of engineering. Otto’s 17-month term as director will coincide with a slate of new and ongoing capital projects that Mobile hopes to complete. The largest of those projects was completed last month — the $425 million dredging of Mobile’s harbor that will make it the deepest in the Gulf Coast. Mobile’s container terminal operator APM is in the process of completing its fourth expansion at $147 million, which includes adding more yard space and a flyover bridge for moving containers to its railyard . Mobile and APM are also jointly building a third berth for the terminal, which will cost $131 million and bring its capacity to about 1.4 million TEUs per year. Mobile, which is positioning itself as a gateway for intermodal rail cargo for the Southeast, is also looking to complete construction of a $100 million railyard in Montgomery operated by CSX Transportation. Mobile is also undertaking $330 million in projects related to its general-purpose docks and coal terminal. Contact Michael Angell at michael.angell@spglobal.com .

Port infrastructure

Marine terminals

North American ports

Mobile taps its chief engineer to lead port through 2027

<div class="phx-topic abstract-wrapper">With 196,000 TEUs of new capacity added to its fleet, the latest orders mean Evergreen will leapfrog both Hapag-Lloyd and Ocean Network Express in global capacity to become the fifth-largest container line.</div>

With 196,000 TEUs of new capacity added to its fleet, the latest orders mean Evergreen will leapfrog both Hapag-Lloyd and Ocean Network Express in global capacity to become the fifth-largest container line.

<div class="phx-topic">Taiwan’s Evergreen Marine on Wednesday confirmed an order for 14 14,000-TEU liquefied natural gas (LNG)-fueled ships that could cost almost $3 billion, with the vessels split between South Korea’s Samsung Heavy Industries and China’s Guangzhou Shipyard International. Evergreen said each ship would cost between $175 million and $205 million, taking the total cost to between $2.45 billion and $2.9 million. The two shipbuilders will construct seven vessels each. The deals were approved at an Evergreen Marine (Asia) board of directors meeting Wednesday, the carrier said in a filing to the Taiwan stock exchange, ending recent speculation by shipbrokers that Evergreen was readying a massive order. With 196,000 TEUs of new capacity added to its fleet, the latest orders mean Evergreen will leapfrog both Hapag-Lloyd and Ocean Network Express in global capacity to become the fifth-largest container line, up from seventh place. <div class="wrapper-narrow"><dynamic-object type="jocchartid" resource-id="82b6ff12-d7ca-420a-abbe-7b9998b29e56"></dynamic-object></div>Fleet data from Sea-web, a sister company of the Journal of Commerce within S&amp;P Global, shows the latest deals boost Evergreen’s total capacity to 2,747,549 TEUs, against 2,606,972 TEUs for ONE and 2,360,562 TEUs for Hapag-Lloyd. The orders also reinforce LNG as the next generation fuel of choice for carriers, increasing the total number of LNG-fueled container ships on order to about 380, according to S&amp;P Global Market Intelligence. <h3>Q3 financials up from Q2, but down from year-ago period </h3>The green light for the new ships came as Evergreen, together with Taiwan’s two other top carriers — Yang Ming Marine Transport and Wan Hai Lines — announced a rebound in third-quarter net profits compared with the second quarter, buoyed by a recovery in freight rates in July as shippers frontloaded cargo to beat US tariffs. But third-quarter financials were lower across the board compared with the 2024 third quarter. Evergreen led the pack with net profit of $700 million, the carrier said in a separate exchange filing Wednesday, up from $403 million in the second quarter but down 63% compared with $1.9 billion in the third quarter last year. Operating revenues fell 34% to $3.1 billion in the third quarter from $4.7 billion a year earlier, the filing showed. Yang Ming Marine saw third-quarter net profit climb to $194 million, the carrier said Wednesday, up from $31 million in the second quarter but down from $890 million in the third quarter last year. Third-quarter operating revenues of almost $1.4 billion were similar to the previous two quarters, although down 39% from $2.3 billion in the prior year. “Compared with the same period in 2024, weaker freight rates resulted in softer profitability,” Yang Ming said in a statement. Yang Ming, the only one of the three carriers to comment on the market, said it was hopeful that the temporary pause in US-China tariff tensions “may help stimulate pre-Lunar New Year shipment demand on trans-Pacific routes.” The carrier said the intra-Asia and Middle East markets were “expected to remain steady, supported by stable demand.” “Despite persistent global trade policy uncertainty and elevated geopolitical risks, Yang Ming has continued to maintain schedule reliability and enhance operational efficiency, supporting steady business performance,” it said. Meanwhile, intra-Asia-focused Wan Hai Lines saw third-quarter net profit climb to $363 million, up from $41 million in the second quarter but almost half the $600 million reported in the third quarter last year. Operating revenues in the third quarter were $1.1 billion, in line with the previous two quarters but down 35% from $1.7 billion a year earlier. Contact Keith Wallis at <a href="mailto:keithwallis@hotmail.com">keithwallis@hotmail.com</a>.</div>

Taiwan’s Evergreen Marine on Wednesday confirmed an order for 14 14,000-TEU liquefied natural gas (LNG)-fueled ships that could cost almost $3 billion, with the vessels split between South Korea’s Samsung Heavy Industries and China’s Guangzhou Shipyard International. Evergreen said each ship would cost between $175 million and $205 million, taking the total cost to between $2.45 billion and $2.9 million. The two shipbuilders will construct seven vessels each. The deals were approved at an Evergreen Marine (Asia) board of directors meeting Wednesday, the carrier said in a filing to the Taiwan stock exchange, ending recent speculation by shipbrokers that Evergreen was readying a massive order. With 196,000 TEUs of new capacity added to its fleet, the latest orders mean Evergreen will leapfrog both Hapag-Lloyd and Ocean Network Express in global capacity to become the fifth-largest container line, up from seventh place. Fleet data from Sea-web, a sister company of the Journal of Commerce within S&P Global, shows the latest deals boost Evergreen’s total capacity to 2,747,549 TEUs, against 2,606,972 TEUs for ONE and 2,360,562 TEUs for Hapag-Lloyd. The orders also reinforce LNG as the next generation fuel of choice for carriers, increasing the total number of LNG-fueled container ships on order to about 380, according to S&P Global Market Intelligence. Q3 financials up from Q2, but down from year-ago period The green light for the new ships came as Evergreen, together with Taiwan’s two other top carriers — Yang Ming Marine Transport and Wan Hai Lines — announced a rebound in third-quarter net profits compared with the second quarter, buoyed by a recovery in freight rates in July as shippers frontloaded cargo to beat US tariffs. But third-quarter financials were lower across the board compared with the 2024 third quarter. Evergreen led the pack with net profit of $700 million, the carrier said in a separate exchange filing Wednesday, up from $403 million in the second quarter but down 63% compared with $1.9 billion in the third quarter last year. Operating revenues fell 34% to $3.1 billion in the third quarter from $4.7 billion a year earlier, the filing showed. Yang Ming Marine saw third-quarter net profit climb to $194 million, the carrier said Wednesday, up from $31 million in the second quarter but down from $890 million in the third quarter last year. Third-quarter operating revenues of almost $1.4 billion were similar to the previous two quarters, although down 39% from $2.3 billion in the prior year. “Compared with the same period in 2024, weaker freight rates resulted in softer profitability,” Yang Ming said in a statement. Yang Ming, the only one of the three carriers to comment on the market, said it was hopeful that the temporary pause in US-China tariff tensions “may help stimulate pre-Lunar New Year shipment demand on trans-Pacific routes.” The carrier said the intra-Asia and Middle East markets were “expected to remain steady, supported by stable demand.” “Despite persistent global trade policy uncertainty and elevated geopolitical risks, Yang Ming has continued to maintain schedule reliability and enhance operational efficiency, supporting steady business performance,” it said. Meanwhile, intra-Asia-focused Wan Hai Lines saw third-quarter net profit climb to $363 million, up from $41 million in the second quarter but almost half the $600 million reported in the third quarter last year. Operating revenues in the third quarter were $1.1 billion, in line with the previous two quarters but down 35% from $1.7 billion a year earlier. Contact Keith Wallis at keithwallis@hotmail.com .

Evergreen says will spend almost $3 billion on 14 new LNG-fueled ships

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The world of LTL is slow to embrace change. Business anachronisms permeate current supply chain processes. These vestiges of the way things used to work define the LTL freight transportation procurement process of many modern shippers.David Knuth, logistics specialist at IEWC, a global supplier of cable and wire based in Wisconsin, is happy to have modernized the RFP process, automating the entire LTL bidding procedure with Bid$ense, SMC³’s automated truckload and LTL freight transportation sourcing solution. But when prompted, he can still recall what once was.In his previous job, a large part of his duties were consumed by creating an intermodal bid package for carriers. In a spreadsheet, Knuth detailed the company’s volumes lane by lane, taking care to delete any errant keystrokes or misleading data. He would then email out the information to each carrier, taking time to respond to detailed technical questions about the spreadsheet data. Finally, he had to compile all the results, create an algorithm that would compare the carriers on each lane, and award the business.“It was a huge undertaking. It took about four months to do,” Knuth said of the old process. “It was almost a full-time job for that part of the year, every year.”In his new job at IEWC, he sat down with Bid$ense on day one and was amazed at the capabilities. Knuth had never before used a bid tool. SMC³’s latest versions of Bid$ense automate the process even further, taking truckload and LTL RFPs entirely online. The tool draws on RFP best-practices protocols to streamline the bidding communication process, enabling bidding carriers to respond accurately and promptly to shipper requests. The solution also does all the distribution work automatically, electronically submitting shipper bid data to carriers based on their actual service capabilities and performance records. Carriers are alerted with timely prompts for RFP deliverables, so shippers aren’t waiting by the phone for responses.Another benefit of automating the process is the data-cleansing assistance. When Knuth sent spreadsheets to carriers, data errors might cloud the bidding process; he might have to resend data or simply accept a price that did not truly reflect the costs of doing business. Data cleansing is incredibly beneficial, he said.The spreadsheet technique also made bidding analysis an onerous task. Since Bid$ense automates and streamlines the entire RFP process, intensive examination is now simple. SMC³ knows that each bid has more than one best outcome. With uniform responses from each carrier, shippers can quickly rank results and create an unlimited quantity of what-if scenarios to make the optimal procurement decision.Jesse Burnett of Central Garden &amp; Pet experiences many of the same benefits. Founded in 1980, Central Garden &amp; Pet has spent the last three decades growing from a small garden supply company to a provider of a range of products from dog chews and bird seed to soil supplements and natural insecticides. For much of its life, the company shipped these disparate goods via LTL and truckload carriers to retailers throughout the country, relying on each business unit to negotiate directly with their freight transportation providers. This arrangement worked fairly well for a small company, but as Central Garden &amp; Pet expanded, leadership decided to consolidate decision making.Burnett helped centralize the transportation decision making in 2015 with SMC³’s Bid$ense. Before Bid$ense, every business unit operated independently as far as negotiating with carriers.“There were a lot of different things just floating around,” he said. “We didn’t have master agreements in place; no national pricing at all. The pricing from carriers was just all over the place, depending on where you were.”The transformations he saw with Bid$ense were immediate. Burnett has been using the tool about every other year since its implementation at the company. Central Garden and Pet’s $19.6 million 2019 LTL bid saved the company just more than 9 percent when compared to its historical average. For Burnett, though, bid automation extends far beyond savings.“We knew that we weren’t getting the best pricing offer from our carriers just because nothing was centralized,” he continued. “We knew that if we combined everything from all these business units and paired it with one corporate offering, then it would drive some cost benefit with it.”When the company initially decided to centralize bid procurement, executives researched a number of different methodologies and technologies. In the end, though, Burnett found that Bid$ense was both widespread and well known, and that his carrier partners already knew how to use the application. Burnett also highlighted the data-cleansing process as a major benefit, saying the rigorous process ensures that carriers always return the best price.“It definitely has helped drive savings,” he said. “Any time you go out there and you drive that competitiveness with the carriers and they know they’re in a bid environment, it seems to sharpen their pencils.”Transportation procurement is an integral part of the modern supply chain. With Bid$ense, shippers can develop a strategic implementation plan that saves them time and money, but also helps them create strong relationships with their carrier partners. These carriers appreciate the solution’s data-cleansing process; when carriers receive a complete shipment history and future volume forecast, they don’t have to guess on pricing. Carriers that receive more data from shippers get a complete picture of that shipper’s freight, allowing them to accurately plan instead of simply preparing for the worst-case scenario. Clean data presented through an automated system can lead to both bigger shipment savings and a lasting partnership between carrier and customer.Whether customers are looking to streamline over-the-road transportation bidding by automating the RFP process or create an entirely new, centralized sourcing process, Bid$ense has the analytical horsepower to get the job done.SMC³ 2020 Customer Case Study

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Shippers save money, time with automated transportation bidding tools

If there’s one immutable truth in the world of logistics, it’s this: LTL is an inherently complex form of transportation. Tariffs, rates, DIM weights, transit times — it’s enough to confuse even seasoned logistics professionals. The solution to this knowledge gap has historically been on-the-job training or university supply chain education, but for a variety of reasons there is now a pressing need for third-party, remote LTL training that prepares logistics workers for transportation success. Global Scope Can Overlook Local Intricacies In the past, professionals looking to move into a supply chain career learned about the basics of supply chain from universities. However, many of these college supply chain programs are now global in scope, focusing on worldwide supply chain management instead of the intricacies of specialized domestic transportation. And even these programs, which used to be widespread, are becoming less common. LTL is not an industry of broad-brush strokes; supply chain professionals really need a pointillistic understanding of the logistics of LTL in order to excel in the industry. Accelerating Need for Dedicated LTL Education This lack of specified training put the onus on employers to prepare new hires with the LTL knowledge needed to do their jobs. Dedicated LTL study is a necessity, not a luxury. At the same time, changes in LTL and the broader supply chain world are accelerating. The reliance on e-commerce has ballooned since the start of the pandemic, and last-mile LTL shipments and related e-commerce strains on the supply chain won’t diminish once social distancing abates. That genie isn’t going back into the bottle. So supply chain employers need logistics workers that are fully versed in all aspects of the industry, ready to solve unique shipping and delivery problems based on their extensive supply chain knowledge But why care about LTL? It’s been reported that some shippers in today’s world are no longer concerned with what mode is used to ship their goods. A Multimodal Approach Ensures On-Time Delivery This mode agnosticism means supply chain stakeholders have to be well versed in all modes of transportation. As unforeseen weather events and other disruptions, such as protests, become more common, savvy logistics employees will need to be armed with familiarity of all modes, not just the most popular, to ensure that freight is delivered on time, without damage, and in the most financially expedient way possible. Offerings like SMC³’s LTL online education courses cover a wide range of topics from LTL basics and operations to more advanced concepts like pricing analytics and transportation law. The company also has plans to continually refresh content, adding new expert presenters and taking the feedback of students to make the courses even better as time goes on. Learn more about&nbsp;<a href="https://logisticstrainingcenter.com/smc3-courses/" rel="noreferrer" class="joc_admin__link">SMC³’s LTL Online Education program</a>&nbsp;and view the 2021 hybrid schedule, featuring live industry experts,&nbsp;<a href="https://www.smc3.com/onlinelearning2021/" rel="noreferrer" class="joc_admin__link">here.</a>

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Filling the Supply Chain Education Gap with LTL Education Courses

In 1995, we began operations with a clear vision: to grow alongside Mexico and connect the world through our terminals. Our priority has always been to deliver excellence in service, foster economic development, and strengthen our communities. We firmly believe that progress is not only measured in tons of cargo moved, but in the opportunities we create. _______________________________________________________________ This year marks a significant milestone: SSA Marine Mexico celebrates 30 years of presence in the country, having established itself from day one as the leading port operator nationwide. Over the past three decades, we have built a legacy of reliability, innovation, and commitment to Mexico’s growth. Our journey has been defined by continuous evolution and a steadfast dedication to our mission. SSA Marine México currently operates in six of the country’s most important ports: Cozumel, Lazaro Cardenas, Manzanillo, Progreso, Tuxpan, and Veracruz. Additionally, we have signed a concession to operate a new multipurpose terminal in Guaymas, Sonora, expanding our footprint to the north of the country. We serve a wide range of segments including containers, general cargo, automobiles, cruise ships, hydrocarbons, and asphalt. As part of this ongoing commitment, SSA Marine Mexico continues to strengthen its infrastructure and capabilities. International trade remains a key driver of global economic growth, and we are proud to support this momentum. Through our continuous improvement strategy, we invest in cutting-edge technology and equipment to deliver more efficient and competitive services, contributing to the success of Mexican businesses. •	Manzanillo, Colima- Specialized Container Terminal I: On October 13, we celebrated the arrival of two new STS (Ship To Shore) Super Post Panamax dockside cranes. This $21.2 million USD investment significantly boosts our operational capacity, streamlining cargo reception and delivery processes. In line with our modernization efforts, we will also retire four of our oldest cranes, paving the way for a more sustainable and technologically advanced fleet that meets the evolving demands of international trade. With these upgrades, SSA Marine México now operates a total of 16 cranes along our 1,350-meter dock, reaffirming our position as a national benchmark in port <span class="joc_admin__inline-image joc_admin__inline-image-aspect-ratio-4_3 joc_admin__inline-image-position-left joc_admin__inline-image-size-large" data-figure-size="large" data-figure-position="left" data-figure-aspect-ratio="4:3"><img src="/content-assets/1760982635607_Manzanillo.jpg" alt="Image provided by SSA Marine" class="joc_admin__inline-image-inherit"> •	As for the Multipurpose Terminal and Specialized Facility, also in Manzanillo, Colima, improvement and conditioning works are planned, along with the acquisition of four E-RTG (Electric Rubber-Tyred Gantry) cranes to enhance operational efficiency and sustainability. •	At our Automobile and General Cargo Terminal in the port of Veracruz, we continue to lead with specialized value-added services that support our clients’ growth. Recent investments include a new washing cabin and a general cargo warehouse, increasing indoor storage capacity by 67%. •	Lazaro Cardenas, Michoacan – Specialized Automobile Terminal: we are working on the development of an additional 4-hectare storage space within our bonded area and a 10-hectare Vehicle Distribution Center (VDC). These enhancements, along with ongoing personnel and system improvements, will reinforce our leadership in automotive handling across the Mexican Pacific coast.<span class="joc_admin__inline-image joc_admin__inline-image-aspect-ratio-4_3 joc_admin__inline-image-position-left joc_admin__inline-image-size-large" data-figure-size="large" data-figure-position="left" data-figure-aspect-ratio="4:3"><img src="/content-assets/1760982742240_Lazaro.jpg" alt="Image provided by SSA Marine" class="joc_admin__inline-image-inherit"> Through these strategic investments, SSA Marine Mexico reaffirms its commitment to the sustained growth of Mexico’s foreign trade. By expanding capacity, modernizing infrastructure, and diversifying services, we continue to strengthen the country’s competitiveness in global logistics. Today, we celebrate three decades of dedication, innovation, and leadership, with deep gratitude to our employees, clients, and partners for being part of this incredible journey. LINK: https://www.ssamarine.mx/<span class="joc_admin__inline-image joc_admin__inline-image-aspect-ratio-16_9 joc_admin__inline-image-position-left joc_admin__inline-image-size-small" data-figure-size="small" data-figure-position="left" data-figure-aspect-ratio="16:9"><img src="/content-assets/1760982787360_SSA%20Marine%20Mexico%20logo%20150pxW.png" alt="" class="joc_admin__inline-image-inherit">

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SSA Marine Mexico: 30 years growing together.

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