Container Shipping

Expanding truck appointment system and new lanes credited for fast moves as port readies for dredging

Port, engineering and property giant MMC shrugged off the trade war and economic headwinds to report massive increases in revenues and profits. Analysts issued a “buy” rating.

Integrated logistics provider and ocean carrier Harbour Link saw a boost in revenues but its costs grew too, causing its profits to weaken in the most recent quarter. A weak result in its ocean shipping division was a drag on profit as well.

PierPass says long late-afternoon queues at the entrance to container terminals om Los Angeles and Long Beach have been eliminated.

Darren Prokop writes about the benefits of economies of scale in maritime shipping; he also writes about the dangers of diseconomies of scale.

Maritime, air and overland trade routes into Europe are being piggybacked by criminal gangs deploying the latest digital supply chain technologies to help meet mushrooming demand for illegal drugs across […]

In this week’s round-up of trucking stories from around Australia: truckers slugged by box terminal operators; truckers slugged by tax hikes; truckers slugged by safety regulators; drivers slugged by Queensland politicians; Freightliner Cascadia rolls into the Outback; Linfox buys 90-truck fleet to transport booze.

Peter Levesque is joining Ports America as president next year, after nine years at Modern Terminals in Hong Kong.

The Global Shippers Forum says the views of exporters and importers have been ignored by European regulators extending antitrust protection to liner carriers.

The shift of production from China to southeast Asia is unlikely to stop the trans-Pacific container market from declining this year.

Sino-Malaysian services provider Integrated Logistics (trading as Integrated Group) has announced another poor set of financial results. It looks set to deliver its fifth full-year loss in six years.

China’s exports to the U.S. contracted last month. Even so, slowing U.S. exports to its trade rival saw China’s trade surplus with the U.S. widen.

Despite solid revenues, costs at CJ Century Logistics surged and the company has reported a third consecutive quarterly loss.

A look at today’s containerized ocean transport of alcohol via bottle, can, keg, flexitank and ISO tank container — and how this mix could change going forward.

CMA CGM reported solid results for the third quarter of 2019. However, those results were weighed down by the costs of financing its purchase of CEVA Logistics.

Trucking and trade bodies are outraged by the ongoing tactics of container terminal operators to frequently hike already huge fees on trucks. Lobbying of government ministers is underway and even port operators are disappointed at the ongoing tactics of terminal operators.

Port of Los Angeles Executive Gene Seroka cautioned the port’s Board of Harbor Commissioners that even if a trade deal is reached with China, it may take months or years […]

SCF Marine Inc.’s SEACOR America’s Marine Highway (AMH) unit has seen its business grow rapidly with the boom in U.S. plastic exports.

Saybrook Capital alleges that additional evidence shows how port and longshore union aimed to derail project.

Freight data confirms that container lines are increasing their flows to the U.S. East Coast at the expense of California ports.

Data reveals how container pricing may have suffered collateral damage from the trade war.

ZIM reported a $5 million profit in the third quarter of 2019, saying it benefited from its cooperation with Maersk and MSC.

Shippers believe container line consortia are anti-competitive and lack transparency.

The European Commission believes that container shipping lines need consortia to make “operations more financially viable and efficient.”

Box-port operator Asian Terminals has seen a massive surge in nine-month revenues and profits but it has also witnessed a downturn in the third quarter of 2019.

Farmers and other shippers in Oregon got some good news this week when the South Korea-based container carrier SM Line announced it will bring weekly container shipping service back to […]

COSCO Shipping International (Singapore), a logistics-focused arm of COSCO, reports a big hit to its third quarter profit after tax. But the company nonetheless has big regional expansion plans.

Soren Toft, the former chief operating officer at Maersk will become chief executive officer at Mediterranean Shipping Co.

Japanese mafia are in the firing line after a record 400 kilos of cocaine are found in a container in Japan.

With Soren Toft, Maersk COO just a week ago, poised to become MSC’s new CEO, FreightWaves examines which carrier rules the waves.

After first half surge, the back-end of November is weakening after the last U.S. freight surge.

Europol believe Italy’s ‘Ndrangheta mafia is behind the use of Gioia Tauro as a cocaine hub for western Europe.

HMM had an increase in revenue and smaller loss in third quarter when compared to the same 2018 period.

Focus on profitability over market share bears fruit for Danish container shipping giant.

Danny Wan, just named executive director of the Port of Oakland says the agency needs to plan ahead for the possibility that the economy may slow.

CEO tells FreightWaves the U.S.-China trade war has transformed the trans-Pacific trade and customers are receptive to paying IMO 2020 bills.

Yang Ming Marine Transport Corp. (TWSE:2609) said it had lower revenue and a larger loss in the third quarter of 2019 than in the same period last year. But the […]

Hapag-Lloyd says addition of a sixth ship to one of its U.S.-flag transatlantic services will improve reliability.

Maersk, MSC, Hapag-Lloyd and COSCO will be the main market share “losers”, says Alphaliner.

Boston’s freight move thru New York? No suh, because the Hub is best served by its own.

It’s a largely good set of third-quarter results for the Philippines-based but globally operating container terminal operator ICTSI. “Strong financial performance,” says President and Chairman Enrique K. Razon. On a nine-month basis, the growth surge is pronounced.

Advent Intermodal is seeking to increase transparency along the Panama “land bridge” between the coasts.

Evergreen Marine said third quarter operating income was 11 percent higher than in the same 2018 period, but profit from continuing operations plunged.

Capacity cuts by lines and higher bunker surcharges as IMO 2020 low sulfur fuels are phased in are fueling box freight rate inflation.

The Port of Long Beach and Port of Oakland said exports were up, but imports down when compared to October 2018.

International Longshore and Warehouse Union (ILWU) will seek to overturn a jury verdict that says it owes $93.6 million to the former operator of the Port of Portlands container terminal.

China-to-California box rates are up 16% from October lows, but are still down 43% year-on-year.

Growth from last year’s front loading makes for tough comps, as trade war upsets seasonal patterns.

In 2020, Matson expects to reap approximately $30 million in financial benefits from new vessels and other infrastructure investments.

All may not necessarily be as it may first seem in the world of company earnings. Dry bulk, ocean container shipping and logistics company Sinotrans (HKEX: 598) may not have delivered a Halloween shocker even though its third quarter results were splattered in red ink all over its income statement. One long-short equities analyst was very bullish on the company’s stock despite the seemingly-poor results!

Seaspan Corp. says there are attractive opportunities to increase the size of its fleet.

Florida’s largest seaport will use federal funds as part of expansion of its largest marine terminal.

Global Ship Lease says it focuses on trade lanes responsible for 70% of global container trade and not the big East-West trades.

U.S. Customs and Border Protection officers found the drugs stuffed in duffel bags inside a container load of scrap aluminum and copper en route to Europe from South America.

A federal jury has awarded $93.6 million to ICTSI Oregon, the former operator of the Port of Portland’s Terminal 6, after finding dockworkers engaged in illegal work practices such as work slowdowns and stoppages.

Asia-Europe and Asia-U.S. spot freight rates jumped 12-30% last week, but can carriers hold on to the gains?

Danaos expects in 2020 container trade demand growth will outpace supply growth for the first time in almost 10 years.

It’s an income statement of two halves for COSCO Shipping Development, which both leases container ships while also making and leasing ocean shipping boxes. Revenues fell off a cliff. But COSCO Shipping Development was able to protect its bottom line by slashing costs. Profits surged.

With shippers and carriers unable to predict rates or capacity in the spot market from month to month, can a better alternative be developed by new freight capacity marketplaces?

Transit times of 10-12 days are promised on the new service from DHL Global Forwarding.

truckers hauling construction materials and agricultural products, flyers promoting the protests also have been posted around the ports

Shippers and NVOs urge the U.S. Federal Maritime Commission to implement the interpretive rule, while ocean carriers and marine terminals say it needs further refining.

Container leasing company Textainer said a traditional peak season did not materialize in 2019.

“K” Line has warned the global economic slowdown could lead to a deterioration in transportation demand.

NYK Line, Japan’s largest shipping company had operating profit of $146.7 million, compared with a loss in the same period last year.

Mitsui OSK Lines (MOL) recorded a major drop in revenues in the first half of its financial year as container earnings fell off a cliff and the U.S.-China trade war took its toll. But MOL was able to limit damage to operating profits.

Hong Kong-based port operator Cosco Shipping Ports (HKEX: 1199) has announced mixed results for the third quarter of 2019. Revenues were flat and profits were down. But box volumes rose. And analysts are bullish on the stock.

COSCO Shipping Holdings said its third quarter profit more than doubled.

Even with a 15-20% increase in container freight costs from Asia to the U.S., prices would still be far below 2018 rates.

Ocean shipping along the coast of Oman, in the Middle East and throughout the Arabian Sea, is being disrupted by Cyclone Kyarr – the most powerful storm ever in that sea-space. However, local sources advise that shipping through a globally critical oil chokepoint, the Strait of Hormuz, is unaffected.

CAI International Inc. (NYSE: CAI), a leading container-leasing and logistics company, said it had modest year-over-year growth in revenue from continuing operations in the third quarter but that it had […]

World’s largest shipping line teams up with major customers in test of carbon-neutral fuel.

If container carriers refrain from adding too much capacity, transpacific freight rates may rise in coming months, says Drewry Shipping Consultants.

CEVA Logistics, the third-party logistics subsidiary purchased by the French shipping giant in April, will cross-sell and share warehousing with Wing.

Fewer cargoes, lower freight rates, higher fuel costs and the consequences of operating a smaller fleet during a time of a slowdown in world trade has led intra-Asia specialist, Samudera Shipping (SGX: S56 / SAMU.SI), to report a net loss for the third quarter of the year.

Growing source of U.S. containerized goods imposes navigation restrictions due to sunken boxship.

Francis Alvarez, who operated a forwarding service in Houston, faces a maximum of 10 years in prison and a $1 million fine for violating the Sherman Act.

Engines in Australian trucks may have been modified to allow them to break speed limits. Australian police have been reading premises across the country. In other Down Under News: APE eats up AHG; new boss for Orcoda; mobile phone driving surveillance laws; broken bridges; accident black spots; corporate debt.

Orient Overseas Container Line (OOCL) said both container volumes and revenue were higher in the third quarter this year than in 2018.

Global logistics software developer WiseTech (ASX: WTC) has come under renewed attack from investment advisor company J Capital. WiseTech continues to reject all claims of impropriety and asserts J Capital is simply “wrong.”

South Korea-based ocean box shipping line Hyundai Merchant Marine (KRX: 011200) has revealed plans to issue a 660 billion Korean won (US$562.4 million) convertible bond. It’s a bold move for a company that’s already carrying KrW4.1 trillion (US$3.49 billion) of debt. One analyst has described the company as having a “horrible balance sheet”.

The autumn peak season will be over before you know it. Trans-Pacific container rates have yet to budge.

Ocean carrier says the onus in on marine fuel suppliers to scale up production to meet target dates.

The container leasing company Triton International said it had “solid” financial performance in the third quarter despite weak leasing demand since last fall.

Shippers will shun container lines that lack transparency or overcharge for low-sulfur fuels.

Container ship lessor says charter rates on larger vessels is improving as supply falls.

Broadford Global has made a mandatory unconditional offer for all the H shares in the dual-listed Dalian Port Co. (HKEX: 2880 and SSE: 601880) of Liaoning Province, China.

Toy maker Hasbro reported lower third-quarter earnings, citing tariffs on Chinese products and higher supply chain costs.

Containerships should be designed with “fire compartments” to prevent the spread of shipboard fires say marine insurers.

Better fuel prices, capacity and cost management help push up results for worlds largest ocean carrier.

The last couple of days took a dramatic turn with U.S. short seller J Capital making explosive allegations that global logistics software behemoth, WiseTech – a A$9 billion (US$6.2 billion) company, has been seriously misleading investors. WiseTech has robustly denied these claims. In other news: CTI Logistics annual results; truck rest stops “desperately needed”.

The Port of Long Beach saw a slide in container volumes arrested in September and hopes to attract more cargo with incentives.

Off-site facility aims to give terminal more room to operate and make chassis moves more fluid.d

Terminal operator joins TradeLens as it looks to align with ocean carriers and provide better box tracking.

French calls for mandatory slow steaming continue, but the introduction of low-sulfur bunkers could see container lines accelerate services as fuel markets are played for competitive advantage.

Japan’s freight industry is set for a downturn on the back of declining economies in the U.S., China and the Eurozone, new research reveals.

Could new tariffs derail solid rate performance in the trans-Atlantic trade?

Industry veteran picked to head one of the largest U.S. East Coast terminals, which is undergoing upgrade.

September saw China record its lowest monthly export growth to the U.S. since 1996 as the trade war inflicted more damage.

World’s second largest container fleet continues push with ultra-large container ships.