U.S. sanctions targeting a subsidiary of China’s COSCO Shipping could have far-reaching consequences.
For 235 years China and the U.S. have sought out each other’s markets by utilizing their fleets of merchant ships.
Seventh busiest North American container port looks to add more infrastructure to handle larger ships.
Northern Asia is again in the cross-hairs of an extreme weather event as Typhoon Mitag bears down on some of the busiest box ports in the world.
The U.S. Federal Maritime Commission does not expect easy answers to the question of how to fairly assess demurrage and detention when Customs and Border Protection holds containers.
The Treasury Department’s Office of Foreign Assets Control identified Moscow-based Maritime Assistance LLC as the head of a “sanctions evasion scheme” to deliver jet fuel to Syria.
The Federal Maritime Commission approves the ocean container carrier organization’s petition to eliminate publication of essential terms but retains the requirement to file the actual service contracts.
The U.S. Office of Foreign Assets Control said the sanctions do not apply to parent company COSCO Shipping Corp. and other affiliates not involved in the transport of Iranian oil.
The start of the box shipping slack season commences next week when Chinese factories close for the Golden Week holiday. Further spot rate losses are predicted by Alphaliner.
Trade lanes will come to a halt if the U.K. exits the EU on October. 31, believes the Secretary-General of the European Shippers Council.
