Maritime News
The Journal of Commerce is the industry’s source for maritime news and analysis about ocean container shipping, logistics, supply chains, global shipping ports, shipping technology solutions and end-to-end connectivity. Coverage tracks the movement of containerized cargo — from origin to destination — handled by marine terminals in the US and abroad, depots, container ports, container lines, drayage, consignees and shippers, forwarders, non-vessel operating common carriers (NVOCCs) and off-dock warehousing providers, as well as pricing, capacity, volume and reliability on the trans-Pacific, Asia-Europe, North America-Caribbean, Central and South American and intra-Asia trades.
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OOCL posts 2023 net profit, although slashed significantly in ‘normalizing’ market
The carrier gave a highly uncertain outlook for the industry, outlining a litany of potential disruptors for 2024 that include Red Sea vessel diversions, high interest rates and geopolitical tensions.
DB Schenker profitable 2023 shows it’s still the jewel in Deutsche Bahn crown
The global forwarder is up for sale, and its high level of profitability during an otherwise challenging year for logistics could improve a selling price that analysts have already said could top $20 billion.
SC Ports lands deal seeks to make North Charleston ready for bigger ships
The purchase of an industrial site next to the terminal is part of Charleston’s plan to allow the facility to handle container ships that are double the size of the vessels it can currently accommodate.
APM enhances partnership for ultra-large container terminal at Haiphong port
The terminal operator said it hatched a new agreement with a Vietnamese logistics company that increases its involvement in developing an ultra-large container terminal in the country’s northern region.
India-US carriers lower spot rates for end-March sailings to push bookings
As the market softens, carriers have jettisoned previously announced rate activity for March, with Mediterranean Shipping Co. canceling a $1,000-per-container general rate increase and CMA CGM again postponing a peak season surcharge.
BNSF, UP working through rail container backlogs in Southern California
The railroads say they are deploying more intermodal railcars to Los Angeles-Long Beach and adjusting their operations so marine terminals can clear out rail containers and reduce dwell times following strong import volumes early this year.
THE Alliance restores two trans-Pacific services as Asia imports jump
US imports from Asia last month were up 40% over February 2023, the biggest year-over-year jump for any month since May 2021.
Seafarer unions declare Red Sea, Gulf of Aden ‘warlike’ no-go areas
The deaths of three bulk carrier crew in early March has spurred an international body representing seafarers to downgrade the busy shipping lanes from “high risk” to “warlike” and has urged all carriers to avoid sailing through the region.
dship Carriers adds to MPV order book with larger, more fuel-efficient vessels
Tougher environmental rules are expected to drive more MPV scrapping even as the order book expands thanks to new MPV and open-hatch ship orders.
Sharp slide in spot rates provides background to trans-Pacific contract talks
This year’s annual service contract negotiations are occurring amid the latest disruption in container shipping as vessels divert away from the Red Sea and Suez Canal to avoid possible attacks by Houthi militants.
Diversions around southern Africa expose Asia-Europe ships to rising ETS costs
Longer voyages around Africa to avoid Red Sea attacks have naturally resulted in greater fuel consumption from vessels, but with Europe now charging carriers per ton of emissions, the cost implications are significant.
Open-hatch MPV ship orders up sharply as outlook for fleet changes
New orders for open-hatch multi-purpose ships, some of them heavy-lift capable, have increased the MPV fleet growth forecast by 3.5% through 2028.
Chinese niche carrier to launch Shanghai-Los Angeles expedited service next week
The entry of Hede International in the eastbound trans-Pacific comes as US imports from Asia have been rising on a year-over-year basis since October.
Demand soars for Asia-Europe sea-air option to avoid longer Africa transit
Dubai continues to be one of the more popular destinations for European importers with time-sensitive cargo, with the airport able to covert ocean freight to air cargo in 24 hours.
Ocean Alliance keeps status quo, renews partnership for another five years
The carrier grouping is untouched by the latest alliance changes roiling the container market and will assume its position as the largest global alliance early next year after 2M dissolves.
DOE billions available for green energy projects, but cargo not moving yet
Billions of dollars in federal funds are available to scale up innovative green energy projects, once would-be developers make it through the DOE’s loan qualification process.
Montreal port employers lose bid to make dock work an ‘essential service’
The “essential” designation request, which if granted would have barred workers from striking, comes as talks on a new contract have dragged on for seven months with no resolution.
Evergreen, Wai Hai join peers in reporting sharply lower 2023 financials
But both carriers have seen a rebound in revenues for the first two months of 2024 amid the higher freight rates the market saw early this year.
CMA CGM amps up retention of spot shippers with loyalty program
Small shippers that have historically been out of reach for CMA CGM are being targeted through a loyalty program connected to the carrier’s online spot booking tool.
No cost hikes in Gemini’s transshipment-based model: Habben Jansen
Hapag-Lloyd's CEO insists the total cost of the network will be lower because Gemini will be able to better utilize controlled assets and deliver more efficient cargo connections in the hub and spoke model.