From the Journal of Commerce:
Backed against a wall of deep losses and weak demand but emboldened by a doubling of spot rates since mid-2016, container lines are warning trans-Pacific shippers of significantly higher spot and contract rates next year. Shippers, however, aren’t convinced the fundamental drivers around pricing have changed, setting the stage for [...]
From Port Technology:
New alliance service networks for Asia-East Coast North America favor the Panama Canal routeing ahead of the Suez Canal, according to Drewry. … The expansion of the Panama Canal at the end of June has been a game changer. Several Asia-ECNA via Panama loops have been upgraded to deploy ships of 8,000 [...]
Chinese crew members from the Hanjin Seattle celebrate their shore leave. Customs officials changed their policy after solidarity efforts from the ILWU and support from lawmakers in Washington.
Crewmembers on foreign flagged vessels arriving at West Coast ports have frequently sought help from ILWU members and International Transport Workers’ Federation (ITF) inspectors.
“Sometimes we [...]
The bankruptcy court spokesman said Korea Line offered higher prices than Hyundai Merchant Marine, but did not disclose the value of the potential deal.
South Korea’s Korea Line has been picked as the preferred bidder to buy the troubled shipper Hanjin Shipping’s Asia-US operations, beating Hyundai Merchant Marine, a spokesman for a Seoul court [...]
Hyundai Merchant Marine (HMM) and Korea Line have submitted bids for Hanjin Shipping’s Asia-U.S. route, according to Korea’s Yonhap News Agency and other media outlets.
Yonhap cited sources that said “in addition to the U.S.-Asia route, Hyundai Merchant and Korea Line might have submitted bids for Hanjin’s seven overseas operations, workforce and its (54 percent) [...]
Maersk Line has partnered with the ports of Los Angeles and Long Beach to measure the environmental benefits of a US$125 million upgrade to 12 containerships.
The two ports are contributing jointly US$1 million to a real-time tracking system to pinpoint vessel emissions while ships birthed and at sea.
Maersk said the three-year data collection [...]
The major Japanese carriers NYK, MOL and “K” Line agreed to merge their container divisions, forming a brand new shipping company. The combined company will operate a fleet of 110 vessels with 1.4 million TEU, making it the fifth largest container line in the world. The decision was taken among crisis in the industry with [...]
The Federal Maritime Commission (FMC) said last week it has concluded its review of the proposed Ocean Alliance.
Set to take effect immediately and begin operations next April, the carrier members of the Ocean Alliance include: COSCO Shipping, CMA CGM, Evergreen Marine, and Orient Overseas Container Line Limited (OOCL).
With this agreement now intact, FMC [...]
From the Loadstar:
Hanjin Shipping said (that) its four main European centres will close this week or early November according to the regulatory filing.
In total, Hanjin operates from some 10 offices in Europe and employs 250-300 people in sales and operational roles – probably many more indirectly, in sub-agencies and service roles.
Hans-Peter Becker, [...]
From Logistics Management:
The Federal Maritime Commission (FMC) recently discussed two matters of interest to each of the five Commissioners and the broader shipping public: ongoing developments related to the Hanjin Shipping bankruptcy, and a third party review of the southern California-based PierPass program.
FMC Chairman, Mario Cordero, said that, “it remains to be seen” [...]
From the San Francisco Business Journal:
The Port of Oakland has a major backlog of empty shipping containers from now-bankrupt South Korean shipping company Hanjin, which is preventing the port from freeing up those chassis bases for other shipments.
“Port of Oakland has about 900 Hanjin empties right now and we anticipate another 300 [...]
Excerpts from Reuters:
The collapsed Hanjin Shipping Co Ltd could not compete against global rivals that were supported by their governments, the chairman of its parent firm told a South Korean parliamentary hearing on Tuesday.
“Hanjin Shipping lost the game of chicken played among large shippers,” Hanjin Group chairman Cho Yang-ho told the hearing.
A.P. Moeller-Maersk A/S’s container line, which this month ditched a strategy of building new vessels and will instead try to grow through acquisitions, is targeting South Korea’s two biggest shipping firms, according to Jefferies International Ltd.
Hanjin Shipping Co. last month filed for bankruptcy protection and Hyundai Merchant Marine Co. is in the middle of [...]
From Fresh Plaza:
Maersk Line’s 2016 investments in new reefer container equipment are adding 14,800 reefers to the world’s largest reefer fleet of more than 270,000 containers. While part of the reefers replace older equipment, the investment will expand the reefer fleet and cater for Maersk Line’s future growth in the reefer segment.
Adding to [...]
SeaLand is adding the Port of Hueneme as a port of call in its West Coast Central America route, which also includes relay carrier services in the Port of Los Angeles and ports in Mexico, Guatemala, Nicaragua, Panama, Ecuador, Chile and Peru.
The SeaLand route will be a weekly service arriving in Port Hueneme every [...]