Terminal consolidation on the US West Coast is set to be much slower than carrier consolidation.
Mark Szakonyi
Executive Editor, JOC.com Mark Szakonyi, based in Washington, D.C., covers railroads, U.S. transportation and trade policy, sourcing and ocean shipping.
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Terminal consolidation on the US West Coast is happening even if it is not sending the tremors that the wave of carrier mergers and acquisitions has.
The deal maintains the Hong Kong carrier’s brand and marks a new chapter in the ongoing industry consolidation
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The alarm bells have been ringing for years.
It took a June 27 ransomware attack on Maersk Line that crippled its terminal arm and prevented new bookings to bring home the scope of the danger posed to the container shipping industry.
The future of a once-influential and now-shrunken discussion group of carriers in the trans-Pacific is uncertain after members agreed to stop discussing rate and surcharge guidance.
The sharp difference in what carriers will have to pay for lower sulfur fuel makes it tempting to skirt the new rule.
Without such guarantees, carriers spending billions of dollars to meet the International Maritime Organization’s (IMO's) rule will be unfairly disadvantaged by competitors who do not meet it.
Yang Ming’s report of improving financial conditions comes a week after shares resumed trading on the Taiwan Stock Exchange on May 4.
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