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.

Maersk Line defers delivery of new container ships to prop up cashflow

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 […]

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Shipping giants reduce sailings on world’s busiest route

Major container-shipping lines are slashing sailings on the world’s busiest shipping route between Asia and Europe as lower growth in China and a sluggish eurozone economy hurt container volumes.

The late summer season is normally a peak period for container shipping as retailers stock up for Christmas sales. About 95% of the world’s manufactured goods, […]

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JOC: Diversions creating delays in shipments from Asia to US East Coast

From the Journal of Commerce:

Diversions from the West Coast to avoid longshore labor negotiations are creating delays of up to two to three weeks for some ocean cargo moving from Asia to the U.S. East Coast, according to a freight forwarder.

Nelson Cabrera, business development manager at Lilly and Associates International, said the company […]

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Super-Size Ships Challenge Capacity Balance, Report Says

Ship owners and operators are betting their future profitability on super-sized container ships and must delay deliveries of additional vessels to avoid overcapacity and plunging rates, a European shipping bank warns in a research report.

Orders for 8,000-TEU-plus ships peaked in 2007 at 181 vessels of 2 million TEUs before drying up when the market […]

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Hanjin and China Shipping plan new vessel orders as world trade rebounds

The Hanjin Madrid in Hamburg

Hanjin Shipping Co., South Korea’s largest shipping line, and China Shipping (Group) Co. said they were close to ordering new vessels as world trade rebounds from the global recession.

“The worst is over for Asian shipping lines, so it’s a good time to order vessels,” said Minoru Matsuno, president […]

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Idle Box Ship Fleet Shrinks by a Million TEUs

The idled container ship fleet shrunk by nearly one million 20-foot equivalent units in the past six months as ocean carriers launched new services to keep pace with rising cargo demand in the summer peak shipping season.

The new assessment follows a report this week by another research firm, SeaAxis, saying carriers are “shooting themselves […]

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