The below e-mail recently received by the author paints the picture we are seeing a thousand fold in the current ocean shipping marketplace in the inbound/outbound Asia trade lanes which underscores the serious disconnect currently between ocean common carriers and shippers in these U…
CMA CGM, one of the world's largest container shipping groups, on Friday posted a jump in first-quarter earnings and said it expected strong demand for transporting consumer goods to continue for the rest of the year.French-based CMA CGM's net profit rose to $2…
Chinese shipping group COSCO hopes to reach a deal with the Greek government to complete the purchase of an extra stake in Piraeus, despite running out of time to fulfil a key condition, a top official at the port said.Under a 2016 Greek privatization agreement…
Finnish marine equipment and technology company Wärtsilä said on Thursday it is working to develop an autonomous, emissions-free intra-port, inter-terminal container shuttle that would help address the emerging capacity bottleneck for internal container transportation…
For European exporters looking to source shipping containers, existing shortages could deteriorate significantly in the coming weeks, according to the latest data from Container xChange, an online platform for the leasing and trading of shipping containers…
Bureau Veritas has granted approval in principle (AIP) for the Trade Wings 2,500 design, a wind- and LNG/electric-powered containership concept designed jointly by VPLP Design, Alwena Shipping, SDARI and AYRO.As the maritime industry moves toward designs and technologies that minimize emissions…
Port Houston said activity across its docks jumped again in April, showing robust growth in both containers and steel due to high regional demand.Container activity at the Gulf of Mexico's largest container port increased 25% for the month of April…
Japan's exports likely grew more than 30% year-on-year in April, the most in more than a decade, a Reuters poll showed on Friday, but the base effect was a major factor after last year's steep decline due to the initial impact of the coronavirus pandemic…
German container liner Hapag-Lloyd will make more investments in vessel capacity this year to grow in line with the global market, where it is the number five operator, Chief Finance Officer Mark Frese told analysts on Wednesday.Apart from the unspecified further investments in containers…
Maersk is accelerating its plan to transform itself from a container shipping giant into an integrated logistics company following its strong performance during the pandemic, Chief Executive Soren Skou said on Tuesday.Maersk, which handles one in five containers shipped worldwide…
UK Club, an insurer of the container ship that blocked the Suez Canal in March, said on Monday a reduced compensation claim made by the Egyptian authorities for almost $600 million to free the vessel and cover related losses was still 'exceptionally large'…
China extended its impressive trade performance in April, with exports unexpectedly accelerating and import growth hitting a decade high, in a boost to the world’s second-largest economy.A brisk U.S. economic recovery and stalled factory production…
French carrier CMA CGM announced the reshuffling of its standalone EMED EXPRESS 2 – Intra Levant service set up, connecting Lebanon, Syria, Egypt and South Turkey effective as from mid May. The service will be extended to Iskenderun, Mersin and Damietta…
Denmark's Maersk said on Wednesday it expected its 'exceptionally strong' performance in the first quarter to continue for the rest of the year, driven by high demand for shipping containers from China to the United States.Maersk, which handles about one in five containers shipped worldwide…
The U.S. trade deficit jumped to a record high in March amid roaring domestic demand, which is drawing in imports, and the gap could widen further as the nation's economic activity rebounds faster than its global rivals.Manufacturers lack the…
