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Industry news

• Hyundai, Hanjin have a better chance of surviving together, Drewry says

  Time: 2016-03-07 | Publisher: glafamily

  

  Hyundai Merchant Marine and Hanjin Shipping would stand a better chance of surviving their crushing debts if the carriers were merged, something that Drewry believes is now a distinct possibility.The London-based analyst said in its Container Insight Weekly previous merger talks between HMM and Hanj...
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• Chinese New Year keeps trans-Pacific rates depressed

  Time: 2016-03-06 | Publisher: glafamily

  

  The spot rate for shipping a 40-foot container from Shanghai to the U.S. West Coast plunged below $1,000 this week to $884 in a normal seasonal move associated with the Chinese New Year celebrations in Asia. However, the drop was compounded by the overcapacity problem in the trans-Pacific.The rate on all-water services f...
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• Hapag-Lloyd seeks more oversize cargo

  Time: 2016-03-05 | Publisher: glafamily

  

  Hapag-Lloyd plans to more aggressively seek shipments too large or heavy to fit into standard containers, and has established teams in Asia and the Americas to focus on oversize cargo.“Hapag-Lloyd has many years of experience in this attractive segment. We are well-known and renowned for our expertise. Now we intend to reach...
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• UASC upgrades India service network

  Time: 2016-03-04 | Publisher: glafamily

  

  United Arab Shipping Co. this week issued two trade notices enhancing its coverage on trades to and from India.The Middle East-based carrier set up a cooperation arrangement with CMA CGM to buy slots on the French carrier’s Indamex service between the Indian subcontinent and the U.S. East Coast.The sl...
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• Suez Canal tonnage, ship calls off to weak 2016 start

  Time: 2016-03-03 | Publisher: glafamily

  

  Container and bulk ships transiting the Suez Canal fell in both number and tonnage terms in January, continuing a trend of declining traffic that gained momentum in the second half of last year.The number of container ships transiting the canal fell 9 percent in January, from 513 to 467, compared with the same month the previous yea...
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• Mega-ships bring mega-risks, former ship captains tell TPM

  Time: 2016-03-03 | Publisher: glafamily

  

  LONG BEACH, California — Shipping lines may appreciate cost savings from so-called mega-ships, but for those who sail them, bigger ships can mean bigger risks.“With a 19,000-TEU (20-foot-equivalent unit) vessel, we’re looking at a potential $1 billion loss, if a ship is lost 80 percent laden,” Capt. Andrew Kinse...
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• Views differ on outlook for growth in Panama traffic to US East Coast

  Time: 2016-03-03 | Publisher: glafamily

  

  LONG BEACH, California — A panel of ocean shipping experts gazed in their crystal balls and saw very different outcomes for shipping patterns after the Panama Canal opens its new larger locks to commercial traffic in June.A panel, “The New Panama Canal — What It Means,” at the JOC’s 16th Annual TPM Confe...
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• Non-container ports in Texas reaping gains from new plants

  Time: 2016-02-29 | Publisher: glafamily

  

  The breakbulk and heavy-lift trade is alive and well in Texas. The state’s non-container ports are in the middle of a multiyear boom brought on by construction of massive industrial plants that are being built around the ports of Brownsville and Corpus Christi to take advantage of the abundance of shale oil and gas flowing out of t...
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