Economy

  • HMM stays bullish as it sinks deeper into the red, and vows it can cut costs

    Aug 14, 2018 — HMM recorded a net loss of $215m in the second quarter, taking the South Korean ocean carrier’s deficit to a massive $371m at the half-year stage. Like many of its peers, the carrier was hit hard by the rising cost of fuel and was unable to recover sufficient bunker surcharges to mitigate the impact of a 27% hike in bunker prices.
  • Yang Ming the latest carrier to see its bottom line sink into the depths

    Aug 13, 2018 — Taiwanese ocean carrier Yang Ming has become the latest container line to report a heavy loss in the second quarter of the year, posting a net deficit of $129m. It means that all three members of THE Alliance vessel-sharing agreement have now posted negative results for the period.
  • Big spike in containership lay-ups mid-peak season a worry for owners

    Aug 9, 2018 — Alphaliner’s bellwether containership idle tonnage data has recorded a big spike in vessels being consigned to lay-up, shifting the supply-demand balance back in favour of the charterer. The consultant said the capacity of the idle tonnage fleet had risen to 341,000 teu by the end of July, representing 1.6% of the total global cellular fleet.
  • Peak Season Promises Better Box Freight Rates -MSI

    Aug 8, 2018 — After a pattern of divergence at the start of the year, July saw a modest realignment between charter and freight markets as liner operators react to cost pressures and the wider industry awaits the impact of the potential trade war between the U.S. and China, according to the latest Container Shipping Forecaster from MSI.
  • Trade wars unlikely to stop container growth

    Aug 3, 2018 — Tariff and trade wars are a concern but the medium-term outlook for global container port demand growth is positive thanks to strong underlying economic momentum across the world’s major economies, according to Drewry.
  • What's Next on the Road to Self-Driving Trucks?

    Jul 30, 2018 — There's little doubt that automation is coming in the trucking industry — heck, it's already here in many fomats. But how will the next levels of automation be deployed? What will the legal and regulatory framework around that look like?
  • Shippers, forwarders and hauliers now planning for 'no deal' as Brexit looms

    Jul 30, 2018 — Shippers are pushing forwarders for more certainty on post-Brexit customs – some now actively working with a presumption of a hard Brexit. Meanwhile, the UK Road Haulage Association (RHA) has slammed MPs claiming “no deal is better than a bad deal”, suggesting some foods we take for granted could become “luxuries”.
  • Amid Trade War, Rare Hedge Fund Bet Targets the World’s Biggest Shipping Firm

    Jul 24, 2018 — A.P. Moller-Maersk A/S is in an unusual place this year as the world’s biggest shipping company finds itself the target of an attack by hedge funds. The global economy is now firmly in the grip of an escalating trade war.
  • Shippers rushing to beat tariffs? Port of Oakland reports record imports

    Jul 18, 2018 — To witness the buildup to a brewing trade war between the U.S. and China, look no farther than the Port Oakland, where shipping traffic has been heating up along with the rhetoric over President Trump’s tariffs. The port reported that import volume reached a record high last month, possibly due to shippers rushing to beat import tariffs that kicked in this month.
  • Several U.S. Carriers Fine-Tune Compensation in Face of Driver Shortage

    Jul 17, 2018 — The second quarter brought a number of increases in driver compensation as the driver shortage continued to impact carriers’ ability to transport loads.
  • Threat to container charter market as carriers drift towards heavy losses

    Jul 16, 2018 — While container shipping lines face soaring operational costs, recent signs that they are preparing to suspend services in light of weakening demand suggest vessel charter rates could also come under pressure.
  • Tariffs not enough to derail U.S. trucking economy

    Jul 13, 2018 — While there is a lot of noise surrounding tariffs and potential trade wars, FreightWaves’ Chief Economist Ibrahiim Bayaan isn’t as concerned as some that the noise will result in action that could derail the economy.
  • World’s Biggest Shipping Company Already Feeling Pain from Trade War

    Jul 12, 2018 — A.P. Moeller-Maersk A/S may struggle to make a profit this year after the U.S. and China descended into a trade war that promises to hurt the world’s biggest shipping company.
  • Air cargo forward price curve could dull the pain of pricing instability

    Jul 11, 2018 — Exposure to price volatility in air freight could soon be mitigated by the launch of an air freight ‘forward price curve’. The index could help forwarders manage the risk of rapid price changes in the $70bn market, according to the company behind it, Freight Investor Services (FIS).
  • China, Panama to begin talks on free-trade deal in June 2018

    Jul 10, 2018 — Panama and China will begin negotiations in June 2018 to sign a free-trade deal, the two countries’ trade ministers said on Thursday, consolidating a relationship that has strengthened after the Central American nation ditched ties with Taiwan.
  • Local forwarders must diversify as trade boom attracts global 3PLs to Vietnam

    Jun 26, 2018 — A surging Vietnamese economy has created space for local forwarders to expand across South-east Asia, but it is also attracting international 3PLs, creating fierce competition.
  • US-China trade war to hit containers hardest

    Jun 26, 2018 — The brewing trade war between the US and China is seen having varied effects on different parts of the shipping industry. While much will depend on if and when the tariffs actually kick in, analysts seem to agree that the worst effects will be felt by the container shipping industry, exacerbating an already difficult situation with oversupply of capacity and slowing global trade.
  • Tariffs present different global supply chain situations for shippers

    Jun 18, 2018 — For nearly 18 months, or even longer, there have been steady gains in United States-bound imports from China, with much of it due to the pending, now actual, tariffs, which have been by viewed by many at protectionist measures.