ZIM Integrated Shipping Services Ltd. (NYSE: ZIM) announced its consolidated results for the three months ended March 31, 2023.Net loss for the first quarter was $58 million (compared to net income of $1,711 million in the first quarter of 2022)…
Port Houston has jumped from No. 7 to No. 5 in the Journal of Commerce’s ranking of top US container ports in terms of TEUs handled in 2022.Overall tonnage is up 4% through March compared to last year collectively for all of our terminals. “Our…
Bed Bath & Beyond Inc. has filed a complaint against Orient Overseas Container Line Limited and OOCL (Europe) Limited with the US Federal Maritime Commission (FMC).The company is seeking reparations for injuries it alleges resulted from the…
Australia-based logistics company Qube Holdings has acquired a 50% stake in New Zealand’s Pinnacle Corporation and 100% of Kalari.Pinnacle, a New Zealand owned and operated group of companies, operates both port-based and stand-alone facilities…
Cuba’s Mariel Container Terminal (TCM) has a completed channel dredging project that will enable access for Neo-Panamax vessels.Buoys have been relocated to reflect the new channel dimensions, allowing the terminal to receive vessels of up to 1…
Indonesian shipping company Meratus unveiled SMARCO-Smart Container, a technology that leverages advanced sensors and cloud-based tech for efficient and secure container shipping. Using IoT sensors, GPS tracking, and cloud-based technology,…
The World Shipping Council (WSC) has spoken out against new US legislation which aims to eliminate current vessel sharing arrangements as set out in the Shipping Act.The act establishes rules that provide legal certainty to ocean carriers to share space on ships while ensuring competitive markets…
“Despite falling 1.1% m/m in both November and December, US retail sales volumes remain 13% above 2019 levels and 6% higher than the pre-COVID trend. However, sales volumes could return to trend during 2023 and thereby pose a risk for Asia to North America container volumes…
As container shipping demand continues to fall into the New Year, Xeneta Chief Analyst Peter Sand weigh in with his insights on the pace and direction of spot and contract rates; the likelihood of ship lay-ups and scrapping in 2023; plus the…
Shipping giant A.P. Moller-Maersk said on Monday it had appointed Vincent Clerc, who has been with the firm for 25 years, to replace Soren Skou as Chief Executive Officer as of Jan 1. Company veteran Clerc, who currently heads the company's Ocean & Logistics business…
The pace of global shipping activity is set to lose steam next year as economic turmoil, conflict in Ukraine and the impact of the pandemic weaken the outlook for trade, U.N. agency UNCTAD said on Tuesday. The world's largest investment banks expect global economic growth to slow further in 2023…
Peter Sand, the chief analyst of Xeneta discuss recent trends in the container shipping market, from plunging spot rates to blank sailings.The container shipping market has enjoyed a prolonged historic, and somewhat unexpected bull run, as COVID…
“An inventor is simply a fellow who doesn’t take his education too seriously.” –Charles KetteringJust for fun, try asking a friend a few questions. Who developed the telephone? Chances are that your friend will reply, Alexander Graham Bell…
Average container prices have declined by more than half from the last year in August as China picks up containerized trade volumes more recently, according to an analysis published by Container xChange.Trade in China was impacted in the first half of the year…
While there are many layers to the continued container shipping supply chain woes, and the U.S. Federal Maritime Commission has set its sites on the nuisance of empty containers clogging traffic, on the heals of FMC Chairman Maffei's visit to the Port Authority of New York/New Jersey…
