Disclaimer

The articles excerpted on this site report on the state of the industry as seen by mainstream media, and do not necessarily reflect the opinion of the officers of the ILWU Coast Longshore Division.

TOTE’s new Hawaii cargo shipping service is a no-go

From Transport Topics:

A much-touted plan to start a new Hawaii ocean cargo transportation service is dead in the water.

Two companies that were working to launch what would have been a third major carrier hauling cargo between the West Coast and Hawaii two years from now announced Jan. 26 that the project is on “hold” and that a nonbinding commitment to buy four new ships will expire Wednesday.

The announcement wasn’t a surprise to some industry observers who had been closely following, and were skeptical of, the deal between New Jersey-based maritime company TOTE Inc. and Philadelphia-­based shipbuilder Philly Shipyard Inc.

Yet the loss of expected benefits for shippers and consumers from a new competitor in the market served by only two carriers represents a letdown for many who hoped the plan would be realized.

More at Transport Topics

FacebookEmailShare

Find other news on this topic by clicking on the tags and category key words above.