The global shipping industry is constantly evolving, and the COVID-19 pandemic began a marked shift in how container shipping operates. Disruption caused by the pandemic has forced the industry to expand its capacity and reduce costs to remain profitable.
At the peak of the pandemic, containers essentially stopped moving. As manufacturers went into lockdown and closed factories, many of the containers used to ship those manufactured goods were left stranded at ports or storage depots, where they weren’t needed. Simultaneously, freight shippers were reducing the number of vessels in use due to the manufacturing slowdown. This limited global shipping capacity and disrupted the worldwide flow of containers and goods. As a result, some regions were left with an excess of stored containers, while other places were left with no containers at all.
As the pandemic slowed and the global economy began to rebound, labor shortages and congestion at ports have left many of these stored containers stuck where they aren’t needed. Now, instead of a shortage of shipping containers, the industry is dealing with too many. Many container storage depots are turning away new clients due to lack of space, and some shippers are even giving containers away to make room. Blank and cancelled sailings are increasing as well, as shippers decide to skip a port or cancel a trip altogether in order to manage changes in demand and capacity.
Check back here for the latest news and insights on the state of the container shipping industry. You can also visit our maritime news archive to learn more about cargo shipping, or our American Shipper archive for air cargo shipping industry news.
The German container shipping line credited improved freight rates as well as rigorous cost and revenue management for the huge gains.
Acquisition of California-headquartered Performance Team designed to strengthen the shipping giant’s ability to meet customers’ end-to-end supply chain needs.
Canadian National lays off employees, industry groups warn of significant supply chain disruptions and government and First Nations leaders continue to discuss the multi-day protests that have blocked portions of Canada’s rail network.
The Florida port set records in 2019 and scored a harbor deepening funding win early in 2020.
Cost to ship containers from China is down 6-8% but dearth of cargo may limit discounts.
Inland trucking slowdown in China leaves port reefer plugs full, blocking refrigerated food imports.
Rail disruptions cause operational issues at the ports of Vancouver and Halifax.
Patrick Jany, Michael Mitchell and Giovanni Ravano are appointed to C-suite roles.
Trade risks will intensify if the virus spreads from China to the global pool of seafarers.
“We will continue to work with the FMC to make sure that outdated regulations do not prevent the marketplace from working at maximum efficiency,” said World Shipping Council President and CEO John Butler.
Shipping bosses warn of huge economic knock-on effects from the coronavirus outbreak.
Cars and containers also reach new benchmarks in 2019.
No evidence yet of a rush to expedite exports ahead of feared price increase.
Coronavirus is not yet affecting rates, but it is influencing where U.S. importers look to source cargo.
Earnings calls shed new light on how ocean shipping bosses view coronavirus crisis.
Florida port CEO says inclusion in Trump’s budget “speaks volumes about the significance of this project.”
An exclusive interview with Matt Heider, CEO of voyage-optimization platform Nautilus Labs.
From container shipping to tanker transport, markets are awash in coronavirus fallout.
When responding to requests for proposals in the contract bidding process, rail and intermodal service providers should tout not only their competitive pricing but why shippers should diversify their modal options.
Momentum builds for decarbonization of ocean shipping but it’s far from a done deal.
Lori Ann LaRocco writes about the impact of coronavirus on maritime trade between China and the U.S.
More tariff and sanction risks lie ahead for ocean shipping.
GPA ups 2030 target as it plans to convert part of existing terminal to containers along with all new site.
Big one-day drop comes on heels of more restrictions for vessel calls, and concerns about slower demand.
Eight-year-old company working with storied shipping group to make indices available for financial products
“As long as there continues to be a lack of cargo and documentation handling in the ports due to the virus, our exporters and importers shouldn’t be on the hook for per diem or demurrage charges,” AgTC Executive Director Peter Friedmann said.
Asia-Europe trade sees five sailings cancelled due to coronavirus as global shipping companies remain on lockdown for another week.
Pricing data implies pendulum is swinging even more toward East Coast ports at expense of West Coast.
Still too early to confirm coronavirus fallout in trans-Pacific freight pricing data.
Tanker giant Euronav warns of fallout from coronavirus crisis.
Ben Thrower writes about the increased use of cargo ships to smuggle drugs.
Union Pacific opens lanes, while Norfolk Southern talks lane opportunities to take market share from trucks.
Liners confront higher ship-lease rates at the very time fuel prices are spiking.
Liner delays put billions in inventory and assets on hold, leading to more efforts to quantify impact.
Trans-Pacific container volumes face escalating coronavirus risk.
Group aims to establish common vocabulary to make digital communications easier in ocean freight.
One of the first names in chassis provisioning continues to evolve as it gets folded into new industry entrant.
Scorpio Bulkers on virus threat: Prepare for the worst and hope for the best
Singapore surge is “trigger” for Maersk to add fuel new surcharge.
Chinese epidemic could curb ocean shipping demand.
FreightWaves’ maritime Market Expert Henry Byers provides insight regarding the Phase One trade deal between the United States and China.
Ocean carriers not looking at additional trans-Pacific services as Phase One deal unlikely to stem trade slowdown.
The Agriculture Transportation Coalition has developed service contract guidance its members can use to set parameters for when ocean carriers should issue or withhold detention and demurrage charges.
Commissioner Carl Bentzel said the U.S. Federal Maritime Commission will have an increasing role in the development of shoreside activities that impact international container shipping.
Geopolitical tides, e-commerce and technology are today’s “disruptors” in freight transportation, say panelists at Transportation Research Board convention.
High number of canceled sailings butts up against post-holiday restocking demand in the U.S.
A new book places IMO 2020 in the context of a potential “third revolution” for shipping.
Los Angeles port signals efficiency gains as the third-largest container alliance plans additional SE Asia stops.
The rules will clarify licensing and financial responsibilities of ocean transportation intermediaries and streamline the hearing procedures related to denial, suspension and revocations of licenses.
New pact is a plus for tankers, bulkers and box ships, but less so for equities.
The amount of fuel carried on a container ship varies based on the engine capacity and size of the ship, which themselves are a function of the particular trading route […]
Major U.S. 3PL and dray provider looks to go where the containers are as it lays out 2020 expansion plans.
Oceangoing vessels challenge scale of newly introduced carbon-free power technologies for short-sea shipping and ferries, World Shipping Council CEO John Butler tells U.S. lawmakers.
Few freight forwarders currently offer shipper-owned containers due to the lack of market transparency in their sourcing.
Phase One of the U.S.-China trade deal is scheduled to take effect Wednesday. Read CNBC’s Lori Ann LaRocco’s take on how that trade has changed since the tariff war began — and how it may never be quite the same.
All shipping interests through Panama Canal face new fees as water levels drop to ‘historic’ lows.
The shipping consultants Drewry predicts carriers should be able to return “solid if unspectacular results”in 2020.
The U.S. Federal Maritime Commission is required by the 2015 Federal Civil Penalties Inflation Adjustment Improvements Act to annually adjust its civil penalty amounts in line with inflation.
The Port of Monroe says its efforts to increase international business has been stymied by the Detroit office of U.S. Customs and Border Protection.
The transport of cargo from China to Europe by sea is likely to remain more important than Eurasian railway routes, says the CEO of the German forwarder DACHSER.
2018 high-water mark for container volumes makes it ever tougher for 2019 to come out on top.
New Platts indices offer bird’s-eye view of rough IMO 2020 transition for dry bulk.
McLean Trucking is one of the pioneers of the less-than-truckload (LTL) trucking industry. The company’s founder eventually became one of the pioneers of the global logistics and trade industry.
Companies from Amazon to Zulily agree to help Customs and Border Protection figure out how to identify and target high-risk shipments.
Lunar New Year marks traditional ocean shipping slowdown, but U.S.-China trade tiff means extra slack.
Despite all the mergers and all the alliances, ocean container rates are still lower than they were seven years ago.
The U.S. Maritime Administration (MARAD) has announced more than $7.5 million in grants for nine “marine highway” projects.
Traditional U.S. import rush prior to Chinese holiday is subdued in 2020.
Is IMO 2020 fallout for dry bulk shipping a warning sign for container sector?
The high-stakes wild cards to watch in what promises to be a volatile year.
California’s effort to restrict owner-operators in trucking would create havoc for farm and forest product exporters, says the Agriculture Transportation Coalition.
The International Longshore and Harbor Workers Union (ILWU) wants a judge to reverse or reduce a $93.6 million jury award against it or order a new trial.
MSI expects bunker surcharges to also be a factor in container rates.
U.S. Rep. Ed Case, D-Hawaii, has introduced three related bills in Congress to modify the Jones Act, saying that the law is “one of the key drivers of our astronomically […]
President Trump said he plans to travel to Beijing sometime this year to start the next round of trade negotiations with China.
Two industry groups have announced a program to prevent the accidental release of pre-production plastic pellets.
Trans-Pacific container rates continue to fall as Asia-Europe rates continue to rise.
IMO2020 is an environmental rule effective January 1, 2020 that regulates how much sulfur a ship can give out in its exhaust.
For all containers moving in and out of the U.S., rates (both contract and spot rates) are required to be filed with the Federal Maritime Commission (FMC) 30 days in advance of the containerized cargo being shipped. This adds an additional layer of complexity to the way ocean container rates are negotiated and governed.
Links to 16 exclusive interviews with key decision-makers in ocean shipping.
International trade and customs attorney Zhaokang Jiang explains how China is aiming to improve cross-border trade efficiency, create fair competition and ensure compliance and sustainable growth.
Capital constraints should keep ocean shipping capacity in check, a plus for rates.
A strong U.S. economy should see Europe-North America container volume growth of 3%+ next year, but clouds hover over the trade.
Matson has taken delivery of the largest container/roll-on, roll-off ship ever built in the U.S.
Concerns rise that shipping can’t recoup cost of IMO 2020-compliant fuel.
DP World has been awarded a contract that will result in expansion of a container terminal in Jeddah, Saudi Arabia.
A global effort is underway to slash harmful emissions from ocean-going ships. Liquefied natural gas will likely play an important — but only partial — role in that endeavor.
Cargo on board a ship has frequently been the cause of damage or total loss.
A trade war truce is not stopping multinationals from exploring alternative sourcing options to China, but moving supply chains is difficult, says expert.
The Chinese government said the tariff reductions will help expand imports of key consumer products.
CMA CGM has finalized agreement to sell 10 terminals to Terminal Link.
The U.S. Federal Maritime Commission will proceed with proposed rule to eliminate the requirement for vessel-operating common carriers to publish essential terms of service contracts.
Even a full U.S.-China trade deal might not stop shippers moving production out of China. But is the U.S. a realistic option?
APM Terminals is selling one of its two large terminals in Rotterdam, but will retain ownership of Maasvlakte II.
But an undercover survey finds that traditional forwarders face increased pressure from container lines and digital forwarders.
As carbon tax on ocean shipping appears more likely, industry lays groundwork for future collection.
Hopes that last week’s trade deal might boost the beleaguered shipping lane are overly optimistic, says analyst.
Organizations representing 90% for the world’s merchant fleet have proposed spending $5 billion on research to reduce or eliminate carbon emissions.
New independent research reveals that lines are failing to adequately explain how IMO 2020 fuel bill surcharges are calculated.
Japanese ocean shipping giant is investigating how to make its ships greener with liquefied natural gas, hydrogen and batteries.
