Containerships News

 

US Container Freight is Shrinking

Nov 16, 2022

Container freight volumes at the largest U.S. ports were down 3.8% in September compared with the same month a year earlier, confirming the slackening of merchandise trade and downturn in the business cycle.The ports of New York-New Jersey, Los Angeles, Long Beach, Savannah, Houston, Norfolk, Charleston, Seattle and Oakland account for the overwhelming majority of container ocean freight into and out of the United States…

Long-term Ocean Container Rates Suffer Sharp Decline - Xeneta

Nov 30, 2022

Long-term ocean freight rates suffered a steep month-on-month decline in November as subdued spot prices, weak demand, and ongoing economic uncertainty caught up with contracted container agreements. The latest data from the Xeneta Shipping Index (XSI) indicates that global rates fell by 5…

CMA CGM Sees Profits Ebbing as Shipping Boom Fades

Nov 28, 2022

CMA CGM said it expects a pullback in shipping markets to accelerate in the fourth quarter due to high energy prices and flagging consumer spending, and this will reduce its profitability following an earnings surge in the past year.French-based CMA CGM…

Container Traffic Suffers at Spain's Port of Valencia

Nov 18, 2022

International geopolitical and economic uncertainty is weighing on container traffic at the Port of Valencia, which reported a 7.7% drop (4,336,957 TEU) for the first 10 months of 2022.According to data from the Statistical Bulletin of the Port Authority of Valencia (PAV)…

Backhaul Spot Rates Sink Below January 2020 Levels

Nov 17, 2022

The collapse in spot rates on fronthaul trades has caught the headlines, but shippers on certain backhaul trades have seen equally large drops, with some trades having seen spot rates fall for much longer than on the fronthaul and have fallen below rates in January 2020…

Levesque Named President of CMA CGM America

Nov 16, 2022

French shipping group CMA CGM on Thursday announced it has appointed Peter Levesque to take over as president of CMA CGM America and American President Lines (APL) upon Ed Aldridge's retirement on December 6.Levesque is an international global…

Port of Los Angeles October Imports Tumble

Nov 15, 2022

October volume at the busiest U.S. seaport fell to its lowest level since 2009 as shippers sent cargo to alternate trade gateways to avoid potential disruptions from ongoing West Coast port labor talks, Port of Los Angeles Executive Director Gene Seroka said on Tuesday…

UK's Liverpool Port Workers Agree Pay Deal and End Strike

Nov 10, 2022

Around 600 workers at Liverpool port, one of Britain's busiest ports, will end strike action after agreeing a pay deal with employer Peel Ports, the Unite union said on Thursday.Unite said workers had voted 'overwhelmingly in favor' of pay rises worth 14…

Meltdown in the Container Shipping Market Continues

Nov 08, 2022

Facing global economic headwinds, the volume of containerized cargo movement continues to plummet, Peter Sand, Chief Analyst, Xeneta, summarizes: “It is clear that the carriers are no longer in charge, the shippers are.”

Container Rates: Calm Before the Storm?

Oct 31, 2022

Stubborn long-term container rates refuse to follow in footsteps of huge spot declines, but change is coming - XenetaWith dramatic spot rate falls, a non-existent peak season, and easing port congestion freeing up capacity, the scene was set…

Port of New Orleans Updates Design for New Container Terminal

Oct 31, 2022

The Port of New Orleans (Port NOLA) announced progress on the Louisiana International Terminal in St. Bernard Parish, including investments in sustainability, updates on transportation infrastructure, and a new terminal design that directly addresses early community input on traffic…

Port of Barcelona Inks Shore Power Deal with PowerCon

Oct 25, 2022

The Port of Barcelona and Denmark's PowerCon A/S have started building the pilot project to provide electrical power to ships at the BEST terminal. The company has been awarded the contract for this project, which is part of Phase Zero of the…

Hungary's New Container Terminal Aims to Boost Ukrainian Grains Shipments

Oct 18, 2022

Europe's largest land-based container terminal started operating near Hungary's border with Ukraine on Tuesday, aiming to increase shipments of Ukrainian grains via Hungary to Adriatic ports.The East-West Gate terminal, built at a cost of about 40 billion forints ($95…

Supply Chain Snarls Loosen, But Problems Remain

Oct 13, 2022

John Ehresmann loves that the cost of shipping an ocean container from Asia to a U.S. port or buying a load of lumber has fallen back to earth.If only that were true for everything he buys — but it’s not.Some parts of his supply chain have clearly improved…

Congress, GAO Set Their Focus on Cargo Preference Fixes

Oct 12, 2022

On September 14, 2022, the House Transportation & Infrastructure Committee (T&I Committee), Subcommittee on Coast Guard and Maritime Transportation, held a hearing which indicated a potential revitalization, and new enforcement regime, of U…

Logistics News

Freeport Pushes Texas LNG Export Plant Restart to Year End

Freeport Pushes Texas LNG Export Plant Restart to Year End

Magdalena Bosson Named CEO at Ports of Stockholm

Magdalena Bosson Named CEO at Ports of Stockholm

Corvus Containerized ESS Will Charge Crowley's eWolf Electric Tug

Corvus Containerized ESS Will Charge Crowley's eWolf Electric Tug

ABS Launches Maritime Software Firm ABS Wavesight

ABS Launches Maritime Software Firm ABS Wavesight

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