From Hellenic Shipping News:
Container shipping costs, which radically plunged, now shows signs of recovery after the fall of Hanjin Shpiping Co. The strategy of Maersk Line, the world’s largest shipping group which cuts down shipping fees until its competitors fall down and pick fruit when they are liquidated, seems to be working. As […]
Excerpts from an article titled ‘New alliances, bigger ships put US ports on high alert’ in the Journal of Commerce:
US ports are facing what could be a historically challenging 2017 as changes in the rapidly evolving steamship industry — among them new alliances, consolidation, and escalating ship capacity — heighten the already vigorous competition […]
From the Seattle Times:
South Korea’s Hanjin Shipping, one of three major companies that calls on Seattle’s Terminal 46 near the stadiums, filed for bankruptcy protection at the end of August, worrying local retailers about the fate of their cargo. Hanjin had been delivering about three major shipments per week to the Port — nearly […]
Hanjin Shipping Co. has signed a contract to sell its stake in the largest terminal at the Port of Long Beach to Mediterranean Shipping Co.
Hanjin, which was South Korea’s largest cargo container carrier and the seventh-largest in the world before its Aug. 31 bankruptcy filing, owns 54 percent of the company that operates Long […]
Hanjin Scarlet crew were able to take brief shore leave in September. Photo by Seafarers Mission Prince Rupert
Care packages and carolers are on their way to the crew of the Hanjin Scarlet, some of whom have been stuck onboard their vessel in B.C. waters for three and a half months.
The Federal Maritime Commission (FMC) has concluded its review of the proposed “THE Alliance” agreement, allowing it to become effective on December 19, 2016.
“I am very cognizant of the concerns industry stakeholders had regarding provisions in this agreement, particularly those related to information sharing and joint procurement,” stated Federal Maritime Commission Chairman Mario Cordero. […]
The number of “idle ships” – ships not used for commercial operations – has increased from 238 vessels (with a combined capacity of about 900,000 TEU) in November last year to 435 ships (aggregating 1.7 million TEU) in early November of this year, according to Drewry.
Parked in various harbors around the world and awaiting […]
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 […]