BIMCO: US Box Imports Break Records Despite Uncertainty Ahead
Container imports on both the US East Coast (USEC) and West Coast (USWC) had a strong year in 2018, growing 3.7% and 8% respectively in the first 11 months of the year compared to the same period in 2017.Record high levels of inbound laden containers were experienced on both coasts in October with the USWC at 1.09 million TEU and the USEC at 0.91 million TEU according to BIMCO’s own data.The first two months of 2018 saw the USWC coast’s laden imports increase 11.7% from the start of 2017, with the accumulated growth rate then stabilising to around 4% for the rest of the year.
CMA CGM, Freightos Ink Digitization Pact
CMA CGM becomes the first ocean carrier listed on Freightos; direct digital sales, booking, and shipment management on CMA CGM key transpacific trade lanes now available on Freightos.The CMA CGM Group, a worldwide leading shipping group, and Freightos, the world’s online freight marketplace, are pleased to announce they have signed an ambitious pilot agreement whereby CMA CGM has become the first ocean carrier listed on Freightos. Online bookings, guaranteed pricing, and secured capacity on CMA CGM China-US trade lanes are available on the platform…
Port of Oakland to Begin Seaport Logistics Complex
A freight distribution center placing high-demand logistics capability inside a global trade gateway will soon take shape here. The Port of Oakland said today that work should begin this fall on a long-awaited Seaport Logistics Complex.The complex is envisioned as a cargo-handling campus that could change the trajectory of Port business. Currently a West Coast terminus for Transpacific trade vessels, Oakland could eventually double as a major freight distribution point.“This is our future,” said Port of Oakland Maritime Director John Driscoll.
Seaborne Reefer Trade Continues to Expand: Drewry
Despite moderating perishable seaborne trade growth, continued modal shift will sustain expansion in the containerised reefer trade and so support freight rate development, according to Drewry’s latest Reefer Shipping Annual Review and Forecast 2018/19 report, by global shipping consultancy Drewry.Global seaborne reefer trade continues to expand, posting a gain of over 5% in 2017 to 124 million tonnes, a big improvement on trend growth over the past 10 years of 3.6% a year. Underpinning this progress was strong growth in banana…
Container Shipping Shakeup Needed for Higher Rates
Container shipping: Change required for higher ratesDemandThe growing imports of loaded containers into the U.S. East Coast (USEC) continues to be a focal point for the container shipping industry. Growing by 10.4 percent in Q1-2018, the first three months saw 215,000 TEU more entering the USEC than in Q1-2017. Exports grew by 55,000 TEU in the same time span, growing outbound loaded containers by 3.8 percent.This illustrates the constantly changing imbalance in U.S. foreign trade. For every five containers entering the USEC in 2013, four were exported.
Indonesian President Widodo Visits CMA CGM in Jakarta
CMA CGM welcomed, on Tuesday May 15, the Indonesian President, His Excellency Joko Widodo, on the occasion of his visit to the port of Jakarta (JICT). President Widodo was accompanied by the Minister of Industry, Mr. Airlangga Hartarto, the Minister of Trade, Mr. Enggartiasto Lukita, the Minister of Transportation, Mr. Budi Karya Sumadi, and the Minister of State-Owned Enterprises, Mrs. Rini Soemarno. President Widodo met with the local CMA CGM staff and the crew of the CMA CGM TAGE, a 9,365 TEU ship deployed on the JAX Route between Southeast Asia and the West Coast of the United States.
FLIR Helps Keep One of Canada’s Largest Ports Safe
As Canada’s second largest container port and North America’s fastest growing port for transpacific trade, the Port of Prince Rupert in British Columbia is committed to providing mariners with safe, efficient and productive port operations. To ensure the port operates safely and securely, rotating crews work day and night aboard the Charles Hays patrol boat, a vessel fitted with a full complement of FLIR thermal and Raymarine navigation technologies. The equipment includes two 12-inch Raymarine MFDs…
Consolidation Not Enough to Save Box Shippers -Study
The outlook for global container carriers remains rocky at the outset of 2017, according to a new study by AlixPartners. Hanjin Shipping Co.’s bankruptcy in 2016 sent shock waves through the industry, while Brexit and the new U.S. administration’s policies threaten to inject further uncertainty into the future of global trade. These stances could reverse policies that have supported the growth of containerization since the 1950s. Going into the important pricing season, companies need to do everything they can to retain the higher rates recently seen.
Hyundai Merchant Marine Ties Up with 2M Alliance
Heavily indebted South Korean shipper Hyundai Merchant Marine Co Ltd (HMM) said on Sunday it has agreed with the 2M shipping alliance to form a cooperative relationship that falls short of full-fledged membership. Joining an alliance with major shipping firms was one of the conditions of a debt restructuring deal between Hyundai Merchant Marine and its creditors in May, and the company said on Sunday that the tie-up with 2M met that criteria. Its main creditor, the state-backed Korea Development Bank…
Chemical Shipping Freight Rates to Remain Firm
Chemical tanker shipping freight rates are expected to remain firm over the medium term, thanks to rising production capacity in key exporting countries, according to the latest edition of the Chemical Forecaster, published by global shipping consultancy Drewry. Since 2015, the US has started to export more and import less volume of liquid chemical products. US methanol capacity surged 77% in 2015 with the addition of around 3.5 million tonnes per year of new capacity. As a result, US methanol exports are starting to change the pattern of the long-haul chemical shipping trade.
MSC Introduce 'Lone Star Express' and 'Amberjack' to the Transpacific Trade
Swiss headquartered Mediterranean Shipping Company (MSC) has announced two new services alled the ‘Lone Star Express’ which will operate between Asia and the US Gulf. This new service will become a new Gateway to/from the US Gulf in anticipation of increased demand. At the same time, MSC’s Everglades service will be renamed ‘Amberjack’ and restructured to include a call to New York, this change ensures both services will operate at optimum efficiency. All changes will be in effect from the first week of May 2016 (departing Asia).
Overcapacity Catches Box Ship Industry in Undertow
All signs point to a continuation of struggling theme for containerized-ocean-freight industry into 2016 and beyond, warns a study by AlixPartners. The containerized-ocean-freight industry suffered in 2015. Its continuing financial woes accelerated because nearly all key financial indicators declined from 2014. At the heart of the industry’s problems, a persistent global supply-and-demand imbalance is to blame. All signs point to a continuation of that theme into 2016 and beyond.
Container Shippers Battle Falling Rates
As freight rates keep declining, cost reductions are the top priority for box carriers. Drewry’s 2Q14 Container Forecaster highlights that there is a widening gap between the positive financials of the few carriers really focused on cutting costs and the rest of the top 20 lines, as they battle with the pressure of falling freight rates. Drewry forecasts that once again, average freight rates will be lower than in the previous year. Drewry estimates that on the headhaul transpacific trade alone…
MOL Names Nakamura as SVP Transpacific, Caribbean and Latin Trade
MOL (America) Inc. welcomes Junya Nakamura as Senior Vice President of Transpacific, Caribbean, Latin (West Coast South America) Trade. For the Transpacific Trade, he will report to Richard Hiller, executive vice president, MOL Line and for the Caribbean and Latin Trade, he will report to Yutaka Hinooka, chief operating officer, MOL Liner, Ltd. Nakamura joined MOL in 1985, most recently serving as general manager of the MOL (Japan), Ltd. administrative group. He earned his undergraduate bachelor of law degree from Waseda University and has also held positions in container operations…
Transpacific Trade Organizational Changes
MOL has announced the following organizational changes which will take effect in August 2013. These changes will further build the MOL organization as one that customers and employees can continue to count on. Calvin Duffaut, assistant vice president, yield management and corporate communications for MOL (America) Inc. has been promoted to vice president, yield management of MOL Liner and will relocate to Hong Kong. Duffaut joined MOL in 2007 after many years of management experience in trade management…
Port of LA Pioneers 'Clean Ship' Eco Program
The Port of Los Angeles has become the first seaport in North America and the Pacific Rim to adopt an international clean air program that rewards ocean carriers for bringing their newest and cleanest vessels to the Port. The Los Angeles Board of Harbor Commissioners having formally approved an Environmental Ship Index (ESI) program to take effect July 1. The ESI is a web-based tool developed by the World Ports Climate Initiative (WPCI), a project of the International Association of Ports and Harbors (IAPH).
Going Green for the Green
Fuel cost is the primary driver of today’s push to go “green.” While the side benefits extend much further, industry nevertheless moves ahead with extreme caution. Shipping lines trying to stay a step ahead of legislation aimed at reducing carbon emissions are embracing the development of “greener” vessels, but the urgency with which the industry is pursuing fuel-efficient ships is being driven by pure commercial considerations. Fuel accounts for more than two thirds of the operating costs of a vessel.
Hiller Senior VP for MOL Transpacific Trade
MOL announced that Rich Hiller has been promoted to Senior Vice President, Transpacific Trade, effective January 1, 2010. Hiller, currently the Vice President for the Transpacific Trade, joined MOL in November 1995 and held a number of positions in the Transpacific Trade entailing responsibilities covering Pricing, Marketing, and Trade Strategy. A graduate of Claremont Men’s College (now known as Claremont McKenna College) with a Bachelor of Arts degree, Hiller has over 25 years of experience in the containerized shipping industry with overseas assignments that included Singapore…
Index-Linked Container Contracts Webinar
Drewry & the World Container Index arrange an educational webinar on 5th December 2012 to explain how Index-Linked Container Contracts work . The webinar will examine the causes of recent container freight rate volatility and how index-linked contracts can help mitigate the impacts of such instability. It will explain how these new contracting arrangements work with reference to current models in use and will summarise the extent of industry adoption thus far. Persistent freight…
Cautious Recovery for the Container Sector
Drewry’s latest Container Forecaster is optimistic that a market‘recovery is underway but cautions that close monitoring of key market drivers is essential as the patient is not off the at-risk list yet. The latest container trade data suggests we may have entered a real recovery phase but comparisons with the depth of the recession in 2009 must be treated with caution. With a major carrier failure thus far averted and container volumes on the upturn, many believe this year will see a return to better times and profitability.