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The JOC reports that the Port of Long Beach has suffered from niche carriers’ losses: Earlier this year, The Containership Co. went out of business. Niche carriers CSAV, Matson Navigation Co., Horizon Lines and Grand China Shipping each pulled a string of ships from the trans-Pacific, and those carriers were all calling in Long [...]  A second major Chinese shipping firm has halted payments to foreign ship owners because of the severe downturn in the freight market, further straining China’s relationship within the global maritime community. Grand China Logistics, a unit of HNA Group, has withheld payment for months to dry bulk firm Golden Ocean and others without any clear [...] Grand China Shipping has become the latest niche carrier to suspend a trans-Pacific service because of deteriorating conditions in the U.S. import trade from China. Niche carriers operate small vessels of about 3,000-TEU capacity, or less than half the capacity of most vessels in the trade. The routes were between China and Los Angeles-Long Beach. [...] Grand China Shipping, which launched its first trans-Pacific service in March, is splitting that service into two strings, effectively doubling its capacity in the U.S.-Asia trade. The original Super Pacific Express service will add Oakland and Qingdao, China, to the rotation. The port rotation will now be Qingdao, Ningbo, and Shanghai in China, Long Beach [...] Grand China Shipping, one of the fastest growing ocean carriers in China, made its inaugural call to the Port of Long Beach on Tuesday at Total Terminals International’s Pier T shipping facility. The Red Strength kicked off its new service Tuesday and it is expected that the ship will carry to these shores 140,000 twenty-foot [...] |
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