Excerpts from an article titled ”’Shotgun start’ of new alliances to test port productivity” in the Journal of Commerce:
Concern is growing that major US gateways won’t be able to handle the overnight changes that will occur at marine terminals when new ocean carrier alliances take effect on April 1. A new bout of congestion […]
From The Loadstar:
Maersk Line is to postpone delivery of nine newbuild 14,000 teu ‘utility’ ships with the last vessel to be received at the end of 2018, instead of at the end of this year.
Maersk Line says it does not need the ships as it is able to charter vessels of this […]
Excerpts from the Financial Times:
Shares in Maersk fell as much as 7 per cent on Wednesday as it reported only its second annual loss in seven decades and halved its dividend to try to protect its investment grade credit rating.
Maersk recorded a net loss of $1.9bn for 2016, compared with analysts’ expectations of […]
From Seatrade Maritime:
Maersk Line is the largest operator of former Hanjin Shipping vessels, but more than two-thirds of the vessels from the bankrupt company’s fleet remain inactive, according to Drewry.
Of Hanjin’s fleet of 98 containerships, with a capacity of around 610,000 teu when it filed for receivership on 31 August last year, 31 […]
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 […]