Global oil and shipping markets reacted nervously on Tuesday after an international arbitration court ruled against Beijing's claims across large swathes of the South China Sea, fuelling geopolitical tensions in the vital waterway. A tribunal in The Hague…
Downsizing of capacity on the Asia-ECSA trade has paid dividends to carriers with much improved freight rates; why isn’t the scalpel also being used on other routes? In container shipping it is said that freight rates fall much further and quickly than they rise in the opposite direction…
INTERSCHALT maritime systems GmbH, a provider of maritime software for cargo operations and fleet management, NavCom services and manufacturer of VDR systems, announced a change in the company’s executive management today. This follows Cargotec…
Britain’s decision to leave the EU will not by itself deal a body blow to shipping markets, but its implications create significant downside risks The U.K. Brexit vote will have far-reaching effects on the container shipping market, despite the country’s relatively minor role in global trades…
Today, another milestone agreement was reached as Panama Canal Administrator and CEO Jorge L. Quijano and PortMiami Director Juan M. Kuryla renewed a Memorandum of Understanding (MOU) to promote trade opportunities and share best customer practices…
Seaboard Marine will launch a new weekly service commencing on Sunday, July 24, 2016, from New Orleans connecting U.S. exporters to Colombia, Panama, and Costa Rica in addition to Honduras, Guatemala, El Salvador and Nicaragua. The expanded service…
EU antitrust regulators accepted on Thursday an offer from Maersk, the world's largest container shipping liner, and 13 other competitors to change their pricing practices. The companies agreed to publish binding actual rates 31 days before they go into effect…
Container freight rates are forecast to rise modestly over the next 18 months from the all-time lows reached recently, but this will not be sufficient to rescue the industry from substantial losses in 2016, according to the latest Container…
Amid generally weak demand around the world the South Asia region is the shining light for container growth, says Drewry's Maritime Research. Growth in container shipping is becoming a rare commodity; global port throughput only increased…
Carriers hoping for a respite from difficult market conditions with the traditionally buoyant peak season may be disappointed as a recent survey has revealed that shippers expect this year’s peak season to be subdued. Shippers tell Drewry…
Mitsui O.S.K. Lines, Ltd. today announced that the MOL Benefactor, a 10,000-TEU containership has successfully passed through the expanded Panama Canal on July 1, 2016. This is significant in that the MOL Benefactor is the first Neo-Panamax…
In a significant breakthrough for the container shipping business, the two criteria currently used when inspecting containers during the interchange process between operators and leasing companies are now to be harmonised. Until now, there…
Aarhus Service Holding A/S has sold its 40% share in APM Terminals-Aarhus A/S to its JV Partner since the 2010 merger of adjoining facilities in Denmark’s largest port; container volumes have steadily increased over the past four years. Aarhus…
Mark Whitworth, CEO of Peel Ports Group, and Gary Hodgson, COO, were VIP guests of the Mayor of Panama during the inauguration ceremony of the newly expanded Panama Canal when the official opening took place on Sunday, June 26th. The delegation from Peel Ports…
As the containershipping market continues to drift through a prolonged downturn premised on overcapacity a subdued world economy, BIMCO reports a glimmer of hope: demolition of containerships almost tripled in the first five months of 2016 in comparison to the same period of 2015…
