Hanjin Heavy Industries & Construction Co., the Korean shipyard with the most outstanding orders from CMA CGM, tumbled for a second day in Seoul trading after the French shipping line said it may cancel new vessels. The shipbuilder slumped 6.5 percent to 22,150 won after dropping 11 percent yesterday. … CMA CGM, the world’s No. [...]
The move toward “near-sourcing” is underway. … Also called “reverse globalization” or “shortening the supply chain,” near-sourcing describes the return of American manufacturing in order to decrease shipping expenses. As freight costs remain high, globalization has become less competitive and is expected to remain so for the foreseeable future. … Container movement trends confirm a [...]
The Port of Tacoma’s plan to develop the east side of the Blair Waterway for new shipping terminals is over – for now. The port commission and Tokyo-based NYK Line on Thursday officially terminated the lease they signed in 2007 that had the port constructing a 168-acre terminal on the Blair-Hylebos Peninsula for the shipping [...]
Container shipping company Maersk Line announced its plans yesterday to replace Danish workers with foreign ‘competent officers at a much lower price’. … The shipper insisted it is not firing the officers, but offering them voluntary redundancy. … The Danish Maritime Officers Association called yesterday ‘a dark day for Danish shipping’. ‘Even though the shipper [...]
Port officials said the agreements stem from NYK’s loss of volume due to the global economic downturn which made the plans for a dedicated terminal unnecessary. Nevertheless, NYK is still committed to moving from the Port of Seattle to the Port of Tacoma in 2012, but will move into the 135-acre APM Terminal.
From the [...]