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.
Maersk’s (Nasdaq OMX: MAER) fight to bring automation to its largest North American marine terminal is getting support from shippers and non-ocean carriers concerned about the impact on the environment […]
Longshoremen around Australia are walking out on the job for two-, three- and four-day strikes in the latest collective employment dispute. A series of work bans on overtime and shift extensions is also now in effect.
A federal prosecutor filed to seize a container ship at the center of one of the largest U.S. cocaine busts in history, a first step to a possible forfeiture of […]
It has now been a half-decade since the emergence of large-scale container liner alliances. What’s their track record?
One of the largest eastern U.S. ports is looking to promote the use liquefied natural gas as the marine fuel of the future. The Port of Virginia announced it will […]
The U.S. fireworks supply comes primarily from China, and one company controls most of that trade. Read Market Expert Henry Byers’ fascinating article about fireworks!
Dry bulk shipping could be a winner following the ceasefire in the trade war between the U.S. and China.
Gemini Shippers Group, a non-profit shippers association that is nearly 100 years old, has joined the Blockchain in Transport Alliance (BiTA). Read about Gemini and why it has joined BiTA.
Could the record seizure of cocaine aboard the MSC Gayane be a sign of things to come?
Hapag-Lloyd (FSE: HLAG) and Ocean Network Express (ONE) says they will join the TradeLens blockchain platform developed by Maersk (Nasdaq OMX: MAER.B) and IBM (NYSE: IBM). The fifth- and sixth-largest […]
While shoppers are flocking to e-commerce sites, that is not the case for grocery shoppers, who remain more interested in seeing and feeling their produce before buying.
Brian Aoaeh has written a thought-provoking commentary on the impact of climate change on supply chains, and what governments, companies and startups can do to mitigate supply chain disruptions.
FreightWaves, the leading source of news, data and insights for the freight markets, has acquired American Shipper, a leading news publication serving the global shipper community.
Hyundai Merchant Marine (HMM) will join THE Alliance as a full member. The move comes after an apparent rebuff of the money-losing Korean liner company’s efforts to strike a similar […]
The U.S. and China habve agreed to resume trade talks, a break in the nearly 2-month stalemate which has affected trade flows and spawned uncertainty among businesses
The Los Angeles City Council voted against a permit that would allow Maersk to begin the process of automating operations at the largest marine terminal on the U.S. West Coast. […]
Opus9 is now offering to match shippers with drayage carriers as it expands coverage to major U.S. ports. The Sunnyvale, California-based startup, which already offers load matching and digital brokerage […]
The numbers of robots in use around the world is forecast to reach 20 million by 2030…. automation is also forecast to displace tens of millions of people from their jobs.
The developer of a wheeled container storage site is suing the Port and City of Los Angeles, alleging that the project was derailed due to demands for longshoremen to be […]
The Port of Brownsville recently received a key permit from the U.S. Army Corps of Engineers to deepen the 17-mile Brownsville Ship Channel. Dredging on the $350 million project could […]
Florida International Terminal (FIT) deployed a new appointment system in a bid to improve turnaround times for reefer drivers. The appointment system is part of a previously announced expansion at […]
Solid growth in China’s cargo throughput has been revealed in newly published data. No doubt about it – the country’s cargo volumes are growing.
Research by Clarksons confirms acceleration of scrubber installations, reducing available ship capacity.
This article brought to you courtesy of NEXT Trucking U.S. West Coast ports want to boost drayage efficiency for the upcoming 2019 peak season. They aim to do so through […]
NEXT Trucking is opening a new drayage facility in a bid to speed up truck efficiency at the busiest seaport in the United States. The 18-acre facility, which is about […]
Moody’s issued a stable outlook for the shipping industry for 2019, with operating earnings set to grow at the highest rate in four years. But the industry still has to […]
Intermodal giant sees rail and truck as better than option than truckload into
An exclusive interview with Citi’s head of shipping Michael Parker on Poseidon Principles consequences.
A strike by thousands of union workers at major Southern California supermarket chains would have a huge upside for non-union big box grocers and e-retailers but would likely disrupt other […]
Maersk rolled out a fully online service for customers to book space on a container ship. The new offering, Maersk Spot, provides customers a port-to-port cargo loading guaranteed at a […]
Market expert writes about the latest tensions in the Mideast and how that might impact air and sea cargo, as well as supply chains.
Container shipping faces weak summer demand as trade related uncertainties keep pressure on freight rates. The Freightos Baltic Global Container Index (SONAR: FBX.GLBL) ended June 21 at $1,307 per forty-foot […]
Sentiment toward shipping tech has reached a new high point among startups, tech investors and vessel interests.
The Trump administration is considering levying tariffs on the remaining $300 billion of Chinese exports to the United States so far unaffected by duties. Freight Intel, FreightWaves’ proprietary research group, […]
Following a second large drug bust aboard its box-ships this year, international ocean container shipping line Mediterranean Shipping Company has had its Customs Trade Partnership Against Terrorism (C-TPAT) certificate suspended […]
Maersk (Nasdaq OMX: MAER) will find out how much customers are willing to spend on its ambitious environmental agenda with a carbon-neutral container service. The world’s biggest shipping line is […]
The Los Angeles Board of Harbor Commissioners narrowly approved a permit that would allow Maersk’s (Nasdaq OMX: MAER) terminals subsidiary to automate container moves at the largest marine terminal on […]
The Port Authority of New York and New Jersey said this week that it is ready to be the second largest port in the U.S., thanks to the completion of […]
Despite all the negative news, container shipping may be on a steadier course than in previous decades.
Carrier and logistics firm NFI was named in a report highlighting deficiencies in a New Jersey tax incentive program aimed at keeping businesses in the state. Camden-based NFI was one […]
The FreightWaves Freight Intel Group is producing research culled from FreightWaves SONAR and other sources. Read about its first several research papers and how to learn more.
The Port of Philadelphia is the scene of a major cocaine bust, the second one involving a container ship operated by Mediterranean Shipping Company. U.S. Customs and Border Protection and […]
Hundreds of barges carrying grains still waiting to be exported
Market expert Brian Aoaeh writes about the new Digital Shipping Container Alliance and why standards are important to industry. He also writes about why getting standards written and adopted is particularly difficult.
New incentives for container shipping could bring more boxes through the canal to the U.S. East Coast.
FreightWaves’ SONAR chart of the week (June 16, 2019 – June 22, 2019) Chart of the Week: Drewry World Container Index – Shanghai to Los Angeles and Shanghai to New […]
India’s largest commercial port in potential path of Cyclone Vayu.
Suppliers, traders and ship operators will need to increase credit lines and be more diligent about counterparty risk.
Donald Broughton explains the harm that tariffs can do to the economies of the United States, the country(ies) that tariffs are imposed on and the global economy.
Volvo’s Vera autonomous vehicle is now moving containers from a local distribution center to the port in Gothenburg, Sweden.
Washington’s container ports are looking to incent marine terminals to open at off-peak hours for trucks in preparation for the peak shipping season. The move underscores how U.S. ports are […]
The Port of Los Angeles saw May container volumes grow at their best year-to-date level since January, even as empty containers still account for most of the growth. To keep […]
Nicholas Press, Founder and President of CEC Systems, explores the maritime industry’s problem with empty containers and explores potential solutions to deal with them.
International shipping has become one of the largest drivers of domestic shipping volumes in the United States over the past several years. Knowing when and where container volumes are moving […]
Millions of tons of cargo, inducing U.S. grains, remain stuck due to flooding.
Developers are poised to bring new software to the ocean shipping sector. What will work and what will not?
Autonomous shipping is slowly gaining greater attention in the maritime industry, prompting more industry players to figure out where they will fit in what may be the future of ocean […]
The Port of Los Angeles expects cargo volumes to dip in the coming fiscal year due to the fall-off from last year’s front loading of containers and the potential impact […]
A consortium comprising DP World of the United Arab Emirates, the Russian Direct Investment Fund (a sovereign wealth fund), Rosatom and Norilsk Nickel have agreed to look into developing the Russian Northern Sea Route.
The autonomous ship, the Yara Birkeland, will provide the blueprint for the operation of autonomous vessels on European and U.S. inland waterways.
The Port of Long Beach can be a challenge for truckers, even during the slow season. But the port and its tenant marine terminals are looking to software to ease […]
In 2018, international shipping recorded the fewest number of casualties in 100 years, insurer Allianz reports. A disturbing truth about worrisome Wednesdays, and a curious incident involving cocaine-bearing sharks, were also revealed.
Market expert Henry Byers examines the U.S.-Chinese trade war and its impact on imports and the broader economy.
While most trade lanes grapple with overcapacity and weak rates, the trans-Atlantic westbound market is one bright spot for ocean carriers. One market expert credits a strong U.S. dollar and […]
Trade growth, demography and land use changes in the city of Melbourne, Australia, have made necessary a shift of freight from truck to rail, according to an analysis by Melissa Horne, Victorian Minister for Ports and Freight.
Rates are rising for bulkers and gas carriers, while container pricing on the trans-Pacific is showing signs of life.
Market expert writes about how current trade issues between the U.S. and China, the U.S. and Mexico and the U.S. and the EU may disrupt supply chains and cause economic problems.
Automation is once again a flashpoint at ports, with a major Canadian container terminal project becoming the latest instance of a stand-off between labor and management. As FreightWaves Nate Tabak […]
Flexport hired a former White House trade and economic advisor in a bid to harness research from the digital first forwarder’s datasets and to help customers navigate the shifting sands […]
The Port of Savannah aims to boost its market share of freight moving into the U.S. Midwest, saying it offers a cheaper way into the Gateway of the West than […]
Taiwan-based box-shipping line, Yang Ming, has set up shop in Jakarta, Indonesia, with joint venture partners. The new subsidiary will be known as “PT Yang Ming Shipping Indonesia”.
IMO 2020, the scrapping of the shipping lines’ block exemption on alliances and new players in the market could see major changes to the container shipping market over the coming 10 years.
A crackdown on plastic waste illegally ocean-shipped to Malaysia took a dramatic turn last night. The country’s environment ministry announced that it would be sending 450 metric tons of contaminated plastic waste in 10 maritime shipping containers back to their countries of origin.
A deadly maritime accident has killed several people during a ship repair job in China. Accounts differ but it is clear that either eight or ten people are dead. A further 19 were hospitalized and are believed to be in a serious condition, but stable.
An explosion and fire that tore through a berthed container ship at the weekend caused 133 people to be hospitalized.
Improved vessel utilisation is the key to maintaining profitability in what is expected to be a challenging market according to Soren Skou, Chief Executive Officer of Maersk (Nasdaq OMX: MAER). […]
China’s ports have handled just under 4.3 billion tons of cargo between January to April. The country’s main seaports have also handled 82.3 million TEU.
A looming workforce supply gap in the freight forwarding sector has caused the industry to reach out to over one million high school students.
This article brought to you courtesy of NEXT Trucking Intermodal and drayage carriers are seeing a drop in demand about midway through the second quarter. The U.S.-China trade war gets […]
The U.S.-China trade talks throw another curveball at shippers and leave no time to move containers ahead of new tariffs. Market experts see no quick relief at hand, and the […]
South Korean ocean carrier HMM may have a shiny new corporate identity but its first quarter results were written in the same dreadful red ink as last year. Although the ocean carrier generated large increases in revenues, its costs surged, which led to large losses in the first three months of 2019.
Saudi Arabia Customs successfully transported a container to the Port of Rotterdam using blockchain for the packing list and commercial documents.
Chinese shipping giant Cosco (HKEX: 1919) was last weekend given, for free, 45 percent of the equity of ports and shipping operator, Hainan Shipping Holding. Cosco’s not just getting a […]
A five-month drought in Panama has reduced freight carrying capacity of the country’s canal of ocean carriers by nearly one-fifth. It’s also giving an unseasonal boost to shipping rates for […]
As ocean carriers bring in ever-larger container ships to the U.S., the Port of New York and New Jersey says it is ready to handle them. Last week, the YM […]
Hyundai Merchant Marine (KSE: 011200) started off 2019 much as it ended 2018, racking up losses. Despite a first quarter gain in volume that boosted revenue, fuel prices and finance […]
An accident at the Port of Los Angeles took the life of a dock worker and injured another, ending the five-year U.S. safety record for marine cargo handling. The May […]
Among the topics to be taken up by this week’s meeting of ocean shipping’s international regulator will be how the industry can lower its carbon dioxide output. One increasingly talked-about […]
Yang Ming Marine Transport (TSE: 2609) narrowed its first quarter 2019 loss thanks to higher volumes of container shipments. The Taiwanese liner operator reported first quarter revenue of $1.14 billion, […]
A consortium to improve the technology used in container shipping just got larger with the addition of several big names in the liner business. The Digital Container Shipping Association (DCSA) […]
The countdown for bringing Chinese goods into the U.S. ahead of new import duties is now underway. But it’s unclear whether the sequel will match last year’s container crush due […]
Kuwait, Middle East-based logistics provider, Agility, generated consolidated revenues of 378.8 million Kuwaiti Dinar (US$1.25 billion) in the first quarter of 2019, the company reported today. That’s a 1.9 percent increase on the revenues generated in the first quarter of 2018.
Australian integrated logistics provider Qube (ASX:QUB) has acquired Brisbane-based crane-hire provider, mining-related logistics services provider and truck-operator LCR Group for A$135 million (US$94.14 million).
Shipping’s ‘trade war’ equation is not measured in tons at sea, it’s measured in tons times miles at sea.
Beijing has sworn to institute countermeasures to combat a huge increase in tariffs, from 15 percent to 25 percent, that have been imposed by Washington on $200 billion worth of a wide range of Chinese goods. A set of high-level, last-minute, talks yesterday to postpone or prevent the tariffs failed.
U.S.-based container ship operator Matson (NYSE: MATX) reported first quarter 2019 results that were above analysts’ estimates, thanks to strength in the company’s logistics business. The Honolulu-based Matson reported net […]
Hapag-Lloyd (FSE: HLAG) reported first-quarter results that were better than expected thanks to strength in its trans-Atlantic franchise, better exchange rates, and the one-time effect of an accounting rule change. […]
Manila, Philippines-based container terminal operator International Container Services International has posted a solid set of first quarter results. Revenues were up. Profits were up. Box lifts were up. The group attributed its good results to operational improvements, lower finance costs and a “ramp up” in contributions by its new ports.
Shipping container maker Singamas Container Holdings (HKEX:716) has announced that it will sell five of its subsidiary companies to Cosco Shipping Financial Holdings for RMB 3.8 billion. That’s about US$565 million.
Pricing, procuring and planning ocean and rail freight was for years a dark art practiced by a cabal of freight forwarders and logistics professionals. But the ethos of many transport […]
