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 is to buy OOCL – ‘almost a done deal’ says insider

From The Loadstar:

China’s Cosco Shipping may be about to announce that it is to acquire Hong Kong-based carrier OOCL.

An insider source has told The Loadstar a takeover of the container arm of Tung family-led Orient Overseas International (OOIL) is “almost a done deal”.

In January, reports surfaced of a $4bn price tag put […]

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Container shipping lines ordered to testify in U.S. sector probe

From Reuters:

The U.S. Justice Department has ordered top executives from several container shipping lines to testify in an antitrust investigation over practices by an industry that is the backbone of world trade, the companies said on Wednesday.

The world’s biggest container group, Denmark’s A.P. Moller-Maersk, together with second largest line MSC of Switzerland, Germany’s […]

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Federal Maritime Commission voices concern about alliances

From Splash 247:

William Doyle, FMC Commissioner, said, ”We’ve been down this road before with language proposed but not implemented by the P3 Alliance and the language in the existing 2M Alliance.”

The creation of the Ocean Alliance – a new container grouping involving China Lines, OOCL, Evergreen, APL and CMA CGM, has hit a […]

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Evergreen containers new to Rupert port

From The Northern View:

New evidence that container shipping lines are choosing Prince Rupert has popped up recently, with the shipping line ‘MSC’ and a new brand of containers coming through the gateway in late 2015 and now in early 2016.

MSC (part of the 2M Alliance consisting of Maersk Line and MSC) has serviced […]

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Port of Los Angeles fire smolders; no injuries as terminals close

Port fire in San Pedro at Berth 179, where wood and tar pilings burned. Photo by Brad Graverson of The Daily Breeze.

[NOTE: Several media have reported that there were no injuries.]

A massive fire that consumed part of a wharf at the Port of Los Angeles continued to smolder today, as officials […]

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FMC allows CKYH, Evergreen to discuss trans-Pacific, trans-Atlantic cooperation

U.S. Federal Maritime Commissioners yesterday unanimously voted to allow CKYH partners and Evergreen Line to discuss cooperating in the trans-Pacific and trans-Atlantic trades.

The discussion agreement allows the carriers to look at launching vessel-sharing agreements on the two major trade lanes while gauging the market and how other carrier alliances take shape. Cosco, “K” Line, […]

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Evergreen joins CKYH alliance

Evergreen Line and the four members of the CKYH Alliance have agreed in principle to form a new alliance that will share ships on trades between Asia and North Europe and the Mediterranean.

The CKYHE alliance will comprise Cosco, “K” Line, Yang Ming, Hanjin and Evergeen. It plans to begin operations in mid-April with six […]

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Hanjin Cutting its Losses

Hanjin losses

Drewry said cash-strapped Hanjin Shipping has recently announced to its customers that it will be leaving two unprofitable trade lanes. The South Korean carrier will cease taking slots on the Asia‐Black Sea Express (ABX) service of China Shipping, Yang Ming and Wan Hai, and from April / May will pull out of the […]

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New China-Australia-Taiwan service tied up by DP World

DP World Australia has secured the stevedoring services contract for a new weekly service calling into its three eastern seaboard container terminals, totalling approximately 250,000 containers per year.

DP World Australia managing director Ganesh Raj said: “We welcome the new CAT Consortium of Yang Ming Line, Evergreen Line, Sinotrans and Pacific International Lines (PIL) to […]

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Port of Los Angeles announces plans to spend $400 million on projects

The port of Los Angeles will spend almost 40 percent of its $1.1 billion budget for the upcoming year on infrastructure projects, harbor officials announced Thursday.

The almost $400 million in capital improvement expenditures include:

$99 million for improvements to support automation at the terminals and the construction of a facility to support rail transportation […]

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Virginia to Be First Inbound Stop in New Asia Service

The Port of Virginia will gain a “first-in” vessel call in June when MOL will begin making weekly calls at Norfolk International Terminals with its new all-water service between the Far East and the U.S. East Coast via the Suez Canal.

The announcement of the new MOL call comes on top of two other moves […]

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Evergreen Orders 10 Mega-Ships

Evergreen Line said it will charter 10 ships with capacities of 13,800 20-foot equivalent units.

Like other carriers, Evergreen has been stepping up its use of alliances to broaden coverage, increase sailing frequency and cut costs. Having similar-sized ships in joint services simplifies operations. Evergreen said that when the new ships are delivered, it will […]

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Trans-Pacific Carriers Plan Another Round of Westbound Rate Hikes

Container shipping lines in the Westbound Transpacific Stabilization Agreement have announced further rate hikes for dry and reefer cargoes to boost revenues on U.S.–Asia lanes.

The WTSA is recommending a dry container rate boost ofUS$50 per 40-foot container (FEU) from the Pacific Southwest ports of Los Angeles, Long Beach and Oakland from May 15. From […]

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Carriers Face $20 Billion Cash Call in 2012, Alphaliner Says

Ocean carriers could face a short-term funding call of up to $20 billion in 2012 as they are not generating sufficient cash to cover interest payments and meet capital requirements, according to container market analyst Alphaliner.

Most carriers appear to have successfully weathered the market downturn in 2011 but “a number of them continue to […]

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Evergreen linking up with three Asian shippers for route between Americas

Evergreen Marine Corp (長榮海運), Taiwan’s largest container shipping firm by fleet size, has announced that it is scheduled to work with three other Asian container shippers in operating a route between North America and South America from late next month.

The three other Asian container shippers are Hyundai Merchant Marine Co and Hanjin Shipping Co […]

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