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.
Ocean Network Express (ONE) expects slightly better profit this year than previously forecast as costs drop one year into its full operation. But overall demand remains tepid as it lowered […]
GSC handles 12 percent of import containers in Oakland, but its leadership is concerned about plans to build a baseball stadium on port property,
Jens Bjørn Andersen, chief executive officer, said the company was “very pleased with the strong results for the second quarter of 2019. Global transport markets are soft – especially within air freight, but DSV has managed to outgrow the market while still delivering market leading profitability.”
Eternity México recently launched ELIS, a new cloud-based platform to track international freight shipments in real-time between major markets from Asia to Latin America. ELIS (Eternity Logistics Intelligent System) was […]
The Port of Savannah saw container volumes drop from year-earlier levels as the outlook for international trade remains weak. But the fourth largest U.S. port is still seeing some of […]
CHRW grew net income by 6.3% but increasing earnings per share by 8% with buybacks.
Germany’s DB Schenker is joining the ranks of logistics companies that aim to bring cargo booking online. One of the top five freight forwarders in the world, DB Schenker said […]
As peak shipping season gets underway and more containers arrive at ports, the ability of North America marine terminals to handle the extra truck traffic is coming into sharper focus. […]
OOCL reported its second quarter 2019 earnings while also announcing that it was canceling several Asia-Europe sailings for a three-month period.
E-commerce packages are flooding the U.S. The vast majority contain legal products, but U.S. Customs and Border Patrol worries about those that contain illegal or dangerous products.
After California, New Jersey is the next battleground for trucking’s owner-operator business model. And motor carriers fear the war there may be largely lost. The latest skirmish centers on a […]
The Netherlands-headquartered shipping line Universal Africa Lines (UAL) recently added Port Houston’s City Docks to its liner service that connects the Gulf of Mexico and Mexico with West Africa. UAL, […]
MTC Logistics broke ground July 24 for a 12 million-cubic-foot temperature-controlled distribution center in the Port of Mobile.
Chris Connor, the new president and CEO of the American Association of Port Authorities, is enthusiastic about advocating for the varied needs of its members.
Flexport’s customers have seen average landed unit costs rise by 30 percent due to tariffs.
The quarterly results of Costamare reveal continued rise in container-ship charter rates.
Owners of ships, railcars and trucks face increased risk from environmental regulations, credit rating agency Moody’s said. The value of $265 billion in debt owed by transportation companies may be […]
The Port of Los Angeles is a test bed for the latest in logistics technology, and a target for the threats facing that technology. To stave off those threats, the […]
In this commentary by Ekim Saribardak, he writes about new track and trace technologies that can revolutionize the shipment of ocean freight.
DP World (Dubai: DPW) said July 24 that it has reached agreement to create a $1.2 billion container port and industrial logistics port in East Java with the Indonesian conglomerate […]
Stock market analysts are not excited by the initial public offering (IPO) of the container- and forestry-products focused Port of Napier on New Zealand’s east coast.
Criminal syndicates are smuggling huge volumes of methamphetamine around the globe by hiding it in the lawful flow of freight. Find out where meth flows, how it flows, and who profits as it flows.
Kuehne + Nagel (K + N) said it is cautiously optimistic on the outlook for the second half of 2019, but it will be a “tough ride in a tough […]
Ecommerce continues to grow and Amazon and its competitors continue to innovate and grow. Read insight into the phenomenon by Anothy Smith.
Fenix Marine Services aims to make faster dwell and truck turns the capstone of a nearly two-year project to upgrade the second largest marine terminal in Los Angeles. Fenix is […]
This article brought to you courtesy of NEXT Trucking The ability of marine terminals to move ocean containers quickly is becoming a selling point for shippers frustrated with long delays […]
West Virginia may look to sell an intermodal port that it developed, but which has failed to generate the expected level of freight volumes. The state’s Port Authority developed the […]
APM Terminals reached a deal with the longshore union at the Port of Los Angeles to retrain dock workers in repairing the automated cargo handling equipment that will take their […]
It’s hard to blame the skeptics, given what has happened in the past, but dry bulk freight rates are getting pretty impressive.
The South Carolina Port Authority (SCPA) said ocean container moves were up 9 percent in its fiscal year, setting a volume record for the port. The Port of Charleston’s two […]
A simmering industrial dispute in Australia burst into fire this morning when maritime box terminal operator DP World Australia used local media to threaten longshoremen with job losses. Strikes confirmed at Sydney, Fremantle and Brisbane.
Sudden surge in marine fuel costs could spur shippers to consider switch to California over Panama Canal route.
Busiest port in the world, Shanghai, may have to deal with tropical storm-related delays
Mexico’s government wants to build a new marine terminal that could nearly double the annual volume of containers moving through the country’s busiest seaport. The Port of Manzanillo said the […]
Waterfront tensions are increasing as the Maritime Union of Australia declares more wharfside strikes around the country.
Four of the largest shipping lines and five ports operators committed to support a blockchain development platform for the shipping industry. Hong Kong-based CargoSmart said the agreement with CMA CGM, […]
Ben Thrower recently visited the Panama Canal. He writes about the canal’s expansion and what that means to global trade and the maritime industry.
The Port of New Orleans has reopened after Tropical Storm Barry swept through the region, although officials still stress dangerous flooding conditions for area residents.
Hurricane Barry made landfall in Louisiana on July 13, and as it did, it caused disruption to travel and cargo movement in the region.
This article brought to you courtesy of NEXT Trucking Transloading services are becoming an increasingly popular option for international shippers looking to beat the cost of carrier haulage by an […]
Union Pacific’s (NYSE: UNP) intermodal rail service saw average speeds sink to a two-year low in the second quarter, with shippers and intermodal marketing companies reporting extensive delays in getting […]
An end to growth-stopping financial penalties on the Port of Newcastle is definitely not on the agenda after the NSW state government re-committed to its existing policy to keep the port in a crippled state.
The Caribbean is container shipping’s all-important crossroads of the Americas.
Maersk, for the second time, was granted a permit by the Port of Los Angeles that would allow its APM Terminals subsidiary to install infrastructure for electrified, automated container handling […]
Patrick Terminals in Sydney, Australia, shut down for about 19 hours over Monday, July 8 and Tuesday, July 9 after a worker tragically committed suicide.
Capesize owners were afraid to ballast to Brazil when a key Vale mine was closed. Now there are too few Capesizes in the Atlantic Basin, pushing up rates.
U.K.-based Kontainers is releasing a new version of its freight booking software platform aimed at the small and mid-size enterprise market and priced per transaction. The software-as-a-service company said Kontainers […]
Commentary by Bill Driegert, Senior Director of Uber Freight, explores the current and near-future of on-demand freight.
Brian Aoaeh writes about changes that need to be made to the food supply chain to deter food waste and food loss.
The Port of New York and New Jersey published its plans on how it will handle an expected doubling of container volume over the next 30 years, all while trying […]
Appeals court rejects CMA CGM’s attempt to avoid paying up.
The November 2019 contract is being bid at $2.01/mile and falling.
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.
