Spot shipping rates continue their historic slide, putting even more pressure on container lines’ contract business.
Hopes that China will relax its zero-COVID policy are fading, raising concerns about shipping volume fallout.
Southern California’s container-ship logjam ends as congestion eases at East and Gulf Coast ports.
Ocean carriers have been shielded by lucrative annual contracts with cargo shippers, but contract coverage is starting to crumble.
Ed Aldridge is retiring from CMA CGM America, and Uffe Ostergaard is leaving Hapag-Lloyd.
Earnings for Zim, the world’s 10th largest ocean carrier, peaked in the first quarter and continue to slide as rates fall.
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.
