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.

COSCO Secures U.S.$1.75 Billion Credit Line for New Building Scheme

The China Exim Bank has provided a total of CNY580Bn loan to the Chinese shipbuilding sector since its foundation in 1994, and funded 9,637 ships with a total contract value of $197.7Bn.

China’S COSCO group has secured $1.75 billion financial agreement with Export-Import Bank of China (China Exim Bank) for its newbuilding programme.

The loan [...]

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Evergreen charters 11 ultra-large containerships

Evergreen Group has agreed to charter eleven 18,000-teu containerships from Japan-based shipowner Shoei Kisen Kaisha.

The charter agreement was signed between the two companies this week, and includes the six 18,000-teu units chartered in December by Evergreen Marine Corp.

Evergreen has a total of 66 vessels of 8,500-teu and over that are in the in [...]

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Expanding capacity, bigger ships to test European ports this year

The first big event of the year will be the February rollout of the world’s first fully automated container terminal in Rotterdam, which threatens to unleash a rate war across the Le Havre-Hamburg range as carriers leverage the added capacity to beat down handling charges.

Europe’s ports face a rocky ride in 2015, dominated [...]

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Shippers land $147,000 in fines for violating marine fuel sulfur regulations

China Shipping was one of the four shipping lines that incurred the fines.

The California Environmental Protection Agency (CEPA) has announced that its Air Resources Board (ARB) had fined four shippers a combined $146,719 for failing to adhere to the U.S. state’s marine fuel regulations.

CEPA listed the companies found to be in non-compliance as [...]

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Zim finally calls it a day on Asia-North Europe to target more lucrative routes

Israeli ocean carrier Zim has finally axed its monthly ad-hoc sailings from Asia to North Europe, according to a report from Alphaliner, ending the restructured container line’s presence in the trade.

Severe losses, much attributed to the highly-competitive Asia-North Europe tradelane, obliged the ‘new’ Zim to suspend its liner service last April and terminate its [...]

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2M vessel sharing alliance officially begins

The 2M Alliance has officially launched with the departure of Maersk Line’s newest ship from Dalian in China, reports World Maritime News.

The event marks the beginning of the vessel sharing agreement (VSA) made between Maersk Line and Mediterranean Shipping Company (MSC), which will see the two companies share 185 vessels with an estimated capacity [...]

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Matson makes further drop to bunker surcharge

Pacific shipping company Matson Monday announced in an emailed statement that it will further reduce its bunker surcharge, lowering it by four percentage points on its Hawaii, Guam/CNMI, and Micronesia services.

“We are pleased to be able to make another downward adjustment to our fuel surcharge, which for most customers represents a reduction in shipping [...]

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Shippers, regulators will be watching closely as alliances launch services

Question: When does two plus two equal 95? Answer: When the two new vessel alliances that will launch their joint services this month join the two existing alliances that are expanding. Together, the 16 container lines that are consolidating their routes and services will control 95 percent of the cargo volumes moving in the major [...]

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New generation of giant ships leaves colossal wake

The Virginian- Pilot reports that, ‘just a decade ago, Gudrun Maersk, a container ship roughly as big as some of the largest now visiting Hampton Roads routinely, enjoyed biggest-container-ship-in-the-world status. The trophy has changed hands four times and rests with the MSC Oscar.’

More than 50 ships able to carry at least 10,000 units [...]

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China Cosco disposes of 17 boxships and bulkers

State-owned China Cosco Holdings has announced the disposal of 17 vessels with a combined tonnage of 919,853 dwt.

The Chinese shipowner has sold four containerships and 13 dry bulk carriers to the scrapyards between September to December last year, fetching in RMB318.2m ($51.2m) but realising a loss of RMB123.86m.

The loss, however, would be offset [...]

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Federal mediator to help West Coast ports contract dispute

From the Associated Press:

A federal mediator is getting involved in stalled contract talks between West Coast dockworkers and their employers.

Political and financial pressure has been building as each side blamed the other for the slow movement of billions of dollars of cargo across the docks at 29 seaports that are a vital trade [...]

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Chassis maintenance and repair a main culprit of ILWU-PMA impasse

Excerpts from the Journal of Commerce:

Contract negotiations resumed Monday between the International Longshore and Warehouse Union and the Pacific Maritime Association after the holiday recess, but it appears that no significant progress will be made until both parties agree to compromise on the controversial issue of chassis maintenance and repair.

Until this year, shipping [...]

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Congressman: Reducing night shifts will increase congestion; PMA must bring decision makers to table

News release from Congressman Alan Lowenthal:

Congressman Alan Lowenthal says reducing LA/LB port night shifts will increase port congestion; urges PMA and ILWU to redouble efforts on contract talks

”Coming to an agreement on a new contract must involve key decision makers from both sides. The ILWU leadership is sitting at the table [...]

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U.S. fines Japanese shipper NYK Line $59.4 million for price-fixing

NYK, or Nippon Yusen Kabushiki Kaisha, agreed to plead guilty to a one-count felony criminal charge in the scheme, which spanned the period of 1997-2012, and pay the fine.

U.S. justice authorities fined Japanese shipper NYK Line $59.4 million Monday for conspiring with other companies to fix the prices of transporting cars to and from [...]

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Port of Long Beach opens depot for temporary storage of empty containers

A depot to temporarily store empty containers and alleviate ongoing congestion at the nation’s second busiest seaport is now open, Port of Long Beach officials said Monday.

The 30-acre facility on Pier S, which will run at least until March 31, opened Monday to serve as a temporarily solution for dealing with bottlenecks at the [...]

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