Ocean carrier ZIM now expects to earn $4.8 billion-$5.2 billion this year — five times what it earned in 2020.
With its acquisition of Visible SCM earlier this month, Maersk added one of the final components of its e-commerce strategy.
Maersk results offer more evidence that capacity constraints and U.S. — not worldwide — demand drive rates.
With the acquisition of Visible SCM, Maersk customers can now reach 75% of the U.S. D2C market within 24 hours.
Container giant earned $5.1 billion in the second quarter and expects earnings of $18 billion-$19.5 billion for the year.
The Federal Maritime Commission is auditing container lines to evaluate potential abuse of leverage against exporters.
An in-depth look at CEO compensation in container shipping, bulk shipping and the cruise industry
The biggest container shipping line in the world says container traffic at the massive Port of Yantian in China is moving much better after COVID restrictions were recently lifted. But exporters have a long way to go before ocean shipments go smoothly again.
Ocean carriers could make up for two decades’ worth of losses in a single year as demand overwhelms vessel supply.
NS is working to repair a defect that could affect over 5,000 chassis. The repairs come amid high congestion at terminals and intermodal facilities across the U.S.
The Port of Yantian is operating at 100% on the vessel side again after a month of delays, but that doesn’t mean the container buildup will get resolved soon.
Ocean carriers and Class I railroads both agree that chassis shortages are contributing to volume congestion. But solutions to relieve the congestion rely on multiple supply chain stakeholders, say the railroads.
Consolidation in the liner sector is already extreme. Newbuild orders will further concentrate market power in fewer hands.
From A.P. Møller – Maersk to ZIM, the world’s shipping lines reported huge profit jumps.
Congestion is cutting liner capacity just as freight rates are at all-time highs, incentivizing carriers to buy or charter more ships.
Out of an abundance of caution, carriers like Maersk extended the suspension of vessels into the ports from May 31-June 6.
Ships at anchor are unlikely to clear by peak season. Congestion is forcing wide-scale voyage cancellations.
Maersk reveals more details on its shift toward long-term contracts at the expense of spot exposure.
West Coast congestion could last into the fall as retailers face stockouts on essential goods, says ocean carrier Matson.
“Enormous amounts of energy require enormous amounts of space and one thing vessels don’t have is space,” said Milton Bevington during FreightWaves’ Net-Zero Carbon Summit.
Maersk and ZIM ships are being deployed in response to “customers’ increased cargo demands.”
Digging and pulling haven’t freed the giant Ever Given vessel that has stopped traffic in the Suez Canal. The next step might be to lighten the vessel by removing cargo.
Investor-led climate change initiative Climate Action 100+ assessed 159 corporations that contribute most to global industrial GHG emissions to evaluate progress.
The Maersk Eureka is 650 miles off the coast of Alaska awaiting repairs
“Strong winds” are blamed for causing the 20,000-TEU Ever Given to get stuck and block Suez Canal traffic in both directions.
1996: At 1,044 feet (318.2 meters) long, the new Maersk ships are longer than the Eiffel tower, but they are still capable of a high speed of 25 knots.
AgTC’s Peter Friedmann said Hapag-Lloyd’s Rolf Habben Jansen failed to mention in a press conference that the container shipping lines are enjoying record profits “while pushing their customers into real financial trouble, some towards bankruptcy.”
ZIM, newest Wall Street shipping entrant, is riding wave of record-high freight rates. Shares fully recovered from rocky start.
Maersk, the world’s largest container carrier, just reported record quarterly results. And its next quarter looks even better.
In Africa, one seafarer is dead and 15 have been kidnapped. Worldwide, more seafarers are being barred from travel as COVID fears rise.
FreightWaves identifies importers who use the Asia-West Coast service.
A Biden administration teamed with a Democratic Congress should lead to even more stimulus, a recipe for even more container imports.
Like clockwork, liner operators sharply reduce their sailings each year during the Chinese New Year holiday. Not in 2021.
Successful IPO by ZIM would offer investors direct exposure to trans-Pacific freight-rate craziness, but not without risks from debt load.
A look back at 2020’s shipping roller coaster: how container sector emerged as ‘surprise rock star’ and tankers peaked early, then plunged.
Chances slim for 2021 shipping equity offerings, but a container-liner IPO prospect remains on the table.
Will your cargo ship arrive on time? Globally, the chances are now 50-50. In the Asia-U.S. container trade, it’s less than one in three.
Ocean carriers toed the line on capacity control in 2020. What does this new normal mean to shippers, yards and leasing companies?
E-documentation initiative establishes data and process standards for bill of lading preparation and issuance.
Container shipping stocks are back to pre-COVID levels whereas many tanker and bulker stocks are down by double-digits year-to-date.
A rail blockade in west-central Mexico has ended, freeing key rail lines connecting to the Mexican seaport of Lázaro Cárdenas on the Pacific coast.
CP’s partnership with Maersk is starting early, with the first vessel coming into Vancouver in December versus March 2021.
Maersk confirms that cargo demand looks strong through year-end, bucking the usual seasonal trend.
Gateway remains cautious and braced “for any shocks still to come.”
Manders predicts more volatility in 2021 as businesses struggle for capacity assurance amid unprecedented inventory restocking efforts.
Coast Guard utilized helicopter, response boat and local agencies in the effort to find longshoreman Joe Williams.
The trans-Pacific market is bursting at the seams as shippers rush in holiday cargoes.
“Efficient and safe delivery of COVID-19 vaccines around the world is the most urgent logistics challenge we face today.”
Separate protests in Mexico have been disrupting railways and highways in the Mexican states of Chihuahua and Michoacán since mid-August.
Svitzer, Alvys, Blue Ridge, Duluth Seaway and Bureau Veritas announce appointments.
ZIM and 2M increase capacity of vessels calling Texas.
The railroad has 1,000 acres it can develop with partnering customers.
Port Call Data Definitions guide is available for free download.
With two more major carriers actively sharing information, data on nearly half of the world’s ocean container cargo is now available on a single blockchain-based data platform
Listed carriers are poised to post stellar third-quarter numbers on higher rates and volumes.
Railway blockades reportedly are costing the Mexican economy more than $18 million a day.
As NYSHEX expands and Maersk Spot nears U.S. approval, ocean transport contracts could become more binding.
The French shipping giant’s network is down.
Analysts point to upside prospects for container-ship stocks as charter rates rebound.
China could decide enough is enough if trans-Pacific rates rise too high.
The deal comes amid wider efforts from both companies to expand their reach and increase supply chain efficiency.
Shipping line works with APM Terminals Mobile, the Alabama State Port Authority and Team Rubicon to get 36,000 pounds of needed goods to the people of Louisiana.
A.P. Moller-Maersk’s recent announcement that Damco will no longer exist as a separate brand is expected to drive some shippers into the arms of others.
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Layoffs loom. Maersk maintains changes are not about cutting costs amid COVID, but about improving service.
Some ships bypass calls at Port NOLA this week, although Port Houston reports no schedule changes.
U.S. importers turn to Chinese sellers in the wake of COVID.
If 2020 has proved anything to supply chain participants, it is that digitization is here to stay. COVID-19 has placed the focus on logistics and the supply chain like never before. Craig Fuller, founder and CEO of FreightWaves, said the pandemic has given supply chain and logistics intelligence “a front seat inside of every organization […]
New normal for container shipping: active capacity management and digital spot bookings.
Jack Mahoney will take over for the retiring Guy Stephenson.
Container carriers are rerouting goods and assessing damage following Tuesday’s blast.
Digital platform is designed to provide shippers end-to-end transparency.
Developed by A.P. Møller – Maersk and IBM two years ago, the neutral platform was publishing 2 million events per day within a year and a half.
World’s largest container shipping line is “committed to a carbon-neutral future of transport and logistics.”
A new interview with AgTC’s Peter Friedmann on how China COVID fears affect U.S. food exports.
“Optics” are bad but freight pricing doesn’t appear to meet regulatory bar for intervention.
A tip led investigators to the 90 bricks of cocaine weighing nearly 226 pounds.
Carrier recognizes ‘the importance of digitalization across the shipping industry.’
A language barrier of sorts may be blocking shipping lines and ports from adopting common technology platforms.
EU e-commerce regulation will bring “one of the most impactful changes.”
The container ship helping set the record is longer than the Eiffel Tower is tall and capable of carrying 384 million pairs of shoes.
Instead of whipping around at 500 mph, a broken Snap Back Arrestor rope simply drops to the ground
Three hundred vessels will be equipped to measure and report meteorological data
Sister ship will transport cargo while turbocharger is repaired in New Jersey
The alliance between FedEx and Microsoft may change supply chains,. Brian Aoaeh explores the issues involved.
Coast Guard medevacs crewman injured in engine room fire
An exclusive interview with Sea-Intelligence CEO Alan Murphy on how canceled sailings can signal future demand.
Two space-sharing alliances already have canceled 75 voyages through September
Operator of Staten Island terminal spurned by container giant is not giving up without a fight.
Nine carriers in the Digital Container Shipping Association say eliminating paper from transactions will improve all aspects of the process.
World’s largest box carrier expects capacity cuts to mitigate volume downside.
Singapore-based container carrier digs out from $586 million fiscal-year loss to report $105 million profit and procures 5,000 40-foot units.
Judge gives Maersk go-ahead to jump ship from GCT terminal in Staten Island.
The 24,000-TEU Algeciras will make maiden voyage from Qingdao, China, on Monday.
Good news for box carriers: Freight rates haven’t collapsed. Bad news: Volumes have.
Website and the online booking platform of MSC have gone offline but fallout appears contained.
New CEO named to lead Alabama State Port Authority and senior VP appointed to head Latin American sales.
Canceled sailings surge, schedule reliability sinks and import demand evaporates.
Sick seafarer has been isolated on board the container ship off the coast of Spain.
More booking cancellations equal more ocean-service cancellations equal more delivery uncertainty.
