Earnings for Zim, the world’s 10th largest ocean carrier, peaked in the first quarter and continue to slide as rates fall.
The CEOs of Canadian Pacific and Kansas City Southern on Tuesday talked up the benefits of their railroad consolidation at the RailTrends conference in New York.
The head of Los Angeles’ port is on a worldwide sales blitz, trying to convince shippers and carriers to come back.
Container volumes were up year over year in Savannah and Charleston, while crude oil exports set a record in Corpus Christi.
Drop in imports from China in recent months comes on the heels of years of gains by exporters in the rest of Asia.
Container shipping fundamentals are not as bad as spot rates imply, says the head of the world’s fifth-largest ocean carrier.
“Container demand is expected to be under downward pressure due to considerable uncertainties,” HMM said in its third-quarter earnings release.
Nicole is forecast to move through Florida to Georgia on Thursday and then to the Carolinas on Friday.
German shipping and logistics giant Deutsche Post DHL has raised its full-year profit guidance to a record of $8.38 billion.
Imports remain 7% higher than pre-pandemic levels, with volumes steadying last month after September’s plunge.
Revenues and expenses were little changed from last year at Expeditors but profitability rose.
Some VLGCs carrying propane and VLCCs carrying crude have joined LNG carriers in shipping’s six-figures-per-day club.
The Port of Houston announced it will begin implementing fees for long-dwell containers beginning Dec. 1.
project44 has secured $80 million in funding to create a system to measure supply chain emissions globally.
Europe must replace all seaborne crude imports from Russia within the next few weeks. Crude tanker owners stand to gain.
Flexport sees lower spot rates giving certain retailers a pricing advantage at the store.
Maersk’s guidance implies fourth-quarter earnings will plunge 39% compared to the third-quarter peak.
Most politicians are clueless about supply chains, so it’s a shame when industry veteran Mike Erickson runs for Congress and pins inflation on ocean carriers.
Product-tanker share prices are up triple digits year to date as investors position for sanctions upside.
The world’s seventh-largest ocean carrier expects profits to fall, yet its projections remain vastly higher than pre-COVID levels.
