Profits being reported by container shipping lines are down from the stratosphere but many still surpass pre-COVID returns.
“It is extremely difficult to announce a reasonable business forecast at this time,” said ONE, citing container shipping market uncertainties.
The 14,000-TEU One Stork on Tuesday became the largest container ship to call Jacksonville, Florida.
The recognition by the Maritime Association of the Port of New York and New Jersey “is reserved for those who have made a lasting difference in our industry and helped advance all aspects of the global transportation industry.”
HMM acknowledged that “freight rates in most key trade lanes have been under downward pressure since H1 2022.”
ONE’s profit dropped by 50% quarter over quarter to $2.76 billion.
Containerized imports to the ports of Los Angeles and Long Beach have now fallen well below pre-COVID levels.
Un primer semestre “lento para la carga” en 2023, predice el consejero delegado de la compañía de transporte marítimo ONE
The blockchain-enabled global platform TradeLens will go offline by the end of the first quarter of 2023.
Shippers and carriers are increasing the pressure on ports and other supply chain participants to roll out “green corridors” using digital technology.
The world’s seventh-largest ocean carrier expects profits to fall, yet its projections remain vastly higher than pre-COVID levels.
Japanese shipping firm Ocean Network Express has filed a lawsuit against Union Pacific because a shipment of solar panels was stolen in transit.
The trans-Pacific container trade is vastly different than pre-pandemic, with more ships, more competition, and a new leader: Maersk.
This week: UPS highlights employee volunteerism for Global Volunteer Month, Women in Trucking honors Candor Expedite’s Nicole Glenn and ONE helps with regreening initiatives in Africa.
Container lines and tanker owners rapidly and preemptively suspend business with Russia.
Carrier profits are reaching previously unimaginable heights as supply chain disruptions supercharge gains.
Agriculture exporters on the West Coast are feeling neglected by ocean carriers. The Port of Oakland is trying to make more equipment available so they can ship their goods.
Digitization can alleviate supply chain glitches, but it depends on systems that talk the same language.
Ocean Network Express says the “economic environment is now changing” and it cannot forecast what the rest of 2021 holds, but Hapag-Lloyd can. It expects to triple 2020’s EBITDA.
The South Korean ocean carrier says the newbuilds will provide the “capacity and flexibility” to serve its shippers.
Hapag-Lloyd now will add 12 23,500-TEU container ships to its fleet beginning in 2023.
Consolidation in the liner sector is already extreme. Newbuild orders will further concentrate market power in fewer hands.
There have been no reported injuries, pollution or cargo losses aboard the vessel deployed on a ONE Atlantic service.
The South Korean container carrier expects the Suez Canal backlog to be cleared by the time the HMM Nuri arrives in mid-April.
More and more beneficial cargo owners (BCOs) are moving manufacturing and warehousing to Alabama.
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.”
Korean container carrier HMM expects equipment and capacity shortages to continue at least through the end of the first quarter.
Ocean Network Express takes giant profitability leap — from $5 million to $944 million year-over-year.
Hapag-Lloyd credits higher freight rates and lower bunker prices as “the main drivers of these positive business developments.”
In Africa, one seafarer is dead and 15 have been kidnapped. Worldwide, more seafarers are being barred from travel as COVID fears rise.
Hapag-Lloyd and ONE have ordered 12 ultra large container ships, all of which will be able to carry more than 23,500 TEUs.
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.
Removal of dislodged containers is expected to take more than a month, and none of the 1,816 units that fell into the Pacific have been recovered.
The state of customers’ freight remains unknown as inspection of the 14,052-TEU vessel begins.
Surviving cargo that was bound for the U.S. now is headed back to Asia.
Ocean Network Express is cautious in its full-year forecast as “future cargo demand is very uncertain” while the COVID-19 pandemic wages on.
Port Call Data Definitions guide is available for free download.
On a collision course: holiday timing, surging consumer demand, thin inventories, and capacity constraints for container liners and ports.
“This service further connects northeast Florida exporters, including the area’s robust forest products sector, to an important and growing segment of the global economy.”
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
South Korean carrier announces opening of fleet control center but doesn’t open up about sailing plans.
Operating profit “turnaround” of more than $300 million reported.
Darren Prokop’s commentary concerns whether price gouging is taking place on container shipping between Asian ports and the U.S.
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.
Group of nine container carriers has banded together for digital standardization.
A language barrier of sorts may be blocking shipping lines and ports from adopting common technology platforms.
Japanese carrier tempers profitability news with financial concerns.
Singapore-based container carrier digs out from $586 million fiscal-year loss to report $105 million profit and procures 5,000 40-foot units.
The 24,000-TEU Algeciras will make maiden voyage from Qingdao, China, on Monday.
Although the number of new coronavirus cases in China is dropping, shipping lines are still canceling sailings in response to expected low demand.
INTTRA by E2open on Tuesday announced a new technology platform, compliant with the new Digital Container Shipping Association (DCSA) Interface Standard for Track and Trace 1.0, published last week by […]
Los Angeles port signals efficiency gains as the third-largest container alliance plans additional SE Asia stops.
Japan’s leading boxship carrier becomes seventh to join NYSHEX’s platform for guaranteed slots.
Shipyards are facing a scrubber stampede as container lines seek to sidestep paying for low-sulfur IMO 2020 bunkers beginning on Jan. 1.
“K” Line has warned the global economic slowdown could lead to a deterioration in transportation demand.
SeaCube Container Leasing has rapidly expanded its refrigerated container fleet and is now the third largest lessor of reefers and largest lessor of gensets.
Sixth largest container shipping firm cites Asian demand for fresh food as prompting the move.
Import volumes see best month in 2019, but year-to-date still lower.
But Japan’s biggest shipping line looks to restart Long Beach service after summer hiatus.
Japans K-Line shipping company reported its fiscal first quarter earnings.
Japanese shipping company NYK;s fiscal first quarter earnings are covered in this article.
An overview of Japanese shipping company MOLs fiscal first quarter earnings is covered in this article.
Ocean Network Express (ONE) expects slightly better profit this year than previously forecast as costs drop one year into its full operation. But overall demand remains tepid as it lowered […]
Hapag-Lloyd (FSE: HLAG) and Ocean Network Express (ONE) says they will join the TradeLens blockchain platform developed by Maersk (Nasdaq OMX: MAER.B) and IBM (NYSE: IBM). The fifth- and sixth-largest […]
Market expert Brian Aoaeh writes about the new Digital Shipping Container Alliance and why standards are important to industry. He also writes about why getting standards written and adopted is particularly difficult.
The U.S.-China trade talks throw another curveball at shippers and leave no time to move containers ahead of new tariffs. Market experts see no quick relief at hand, and the […]
A consortium to improve the technology used in container shipping just got larger with the addition of several big names in the liner business. The Digital Container Shipping Association (DCSA) […]
One-year old container ship joint venture expects customers to come back with more boxes and pay higher rates in 2019.
Lighter loads through Panama Canal and schedule reliability are two effects hitting ocean freight; ‘We should not underestimate weather.’
LA caught between straits of labor and capital; group looks for ocean freight’s Esperanto; and digital-first forwarder gets $20m funding.
Could this be the year ocean carriers get shippers to pay up? It may be if they want a ‘get-on-the-boat rate’ and not just a ‘paper rate.’
Member of THE Alliance is latest ocean carrier to experience financial difficulty amid a still volatile rate environment.
Liner alliances in a quandary about what to do with largest capacity ships as cancelled port calls increase to deal with capacity glut.
Read on economy from container data does not indicate slowdown yet in cards for global trade.
It’s Northern California versus Southern California traffic as port displays turn times; Brexiting remains bad for business, shipowners warn.
Even the Port’s director agrees something needs to be done; East Coast port notches new record; ATA crows about California victory.
Ocean carriers ease back capacity as import volumes slowdown, but industry still expected to be set fair for 2019.
World’s largest container lines plan to look at emerging technologies as new options come to the market.
SONAR’s signature index has a birthday; Ocean Network Express to lose $600M; oilfield service companies guide for tight margins in Q3; President Trump bails on coal industry incentives; pros and cons of blockchain in container shipping; spending 60,000 hours reverse-engineering a Tesla Model 3.
Hear from owner-operators and safety personnel to stay ready for the challenges of the road
