California’s container-ship traffic jam is slightly less jammed but import pressure remains high. One analyst warns the worst may be yet to come.
Ocean carrier ZIM just released record results and confirmed huge gains for contract rates. So why did its stock sink?
Container, dry bulk and tanker stocks push forward. Biggest winner since mid-2020: Danaos, up (this is not a typo) 1,202%.
E-documentation initiative establishes data and process standards for bill of lading preparation and issuance.
Net profit skyrockets by more than 2,800% to $144.4 million.
ZIM and 2M increase capacity of vessels calling Texas.
Port Call Data Definitions guide is available for free download.
Werner, STG Logistics and ZIM add board members; Port of Oakland, Avetta and Raymond James make appointments.
Q2 EBITDA increases 53.7% and operating cash flow jumps 86.9%.
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.
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.
Net loss whittled from $24.3 million last year to $11.9 million in Q1 2020
Nine carriers in the Digital Container Shipping Association say eliminating paper from transactions will improve all aspects of the process.
ZIM reported a $5 million profit in the third quarter of 2019, saying it benefited from its cooperation with Maersk and MSC.
ZIM, which has entered into space-sharing agreements with Maersk and MSC, says it plans to “double down” on efforts to grow with its partners.
Surprise fees for practice that reduces congestion at ports and improves driver turns amounts to ‘dirty pool’ on part of the steamship lines.
Zim and the 2M Alliance have signed a secind vessel sharing agreement in the trans-Pacific and Asia-Europe trades. The deal significantly boosts Zim’s service offerings while 2M says the new deal offers mutual benefits and efficiencies.
Container line alliances are cutting capacity on their transpacific services in anticipation of a major slowdown in the US-China trade relationship due to tariffs. We see downside risk for Union Pacific and BNSF intermodal volumes, as well as JB Hunt.
