Economy

  • Shippers hit by trucker shortage and bad weather pushing up transport costs

    Feb 15, 2018 — Shippers are fearing for their bottom lines amid claims the US truck driver shortage will intensify after a year in which hurricanes and high demand drove up rates.
  • EU antitrust regulators to fine NYK, Wilhelmsen, other car shipping firms

    Feb 13, 2018 — EU antitrust regulators are set to fine Nippon Yusen KK (NYK) and several other Japanese shippers as well as Norwegian Wallenius Wilhelmsen Logistics ASA (WWL) in the coming weeks for rigging bids for shipping cars, according to people with knowledge of the matter.
  • HMM notches up billion-dollar loss, but carrier still plans to order more megaships

    Feb 13, 2018 — Hyundai Merchant Marine (HMM) slumped to a KRW1.2trn ($1.1bn) net loss in 2017. And this follows a KRW484bn loss the year before, bucking the industry trend of improved profitability. However, seemingly undaunted by the magnitude of its continued losses, the South Korean carrier is to invest $95m in 30,000 new containers and is reported to be on the verge of an order for a dozen 22,000 teu vessels and eight of 13,000 teu.
  • IMO Signs Partnership Deal with European Bank

    Feb 9, 2018 — The IMO has signed a new partnership agreement with the European Bank for Reconstruction and Development (EBRD) to help promote sustainable shipping and ports in selected countries.
  • China Holds A Tenth Of Europe’s Box Capacity

    Feb 1, 2018 — China now controls one-tenth of European container terminal capacity – a figure that is up more than 9% from the start of the decade. That’s according to statistics from the Organisation for Economic Co-operation and Development’s International Transport Forum (ITF), which revealed that Chinese container terminals in Europe now constitute about 10% of European volume and exist in 13 European ports.
  • Ocean Carrier Trends: Will global shipping alliances restore stability?

    Feb 1, 2018 — Hedging your bets on securing capacity may be an ongoing gambit this year, say ocean shipping industry experts. The big players have only gotten bigger, but that’s no guarantee that service and reliability will improve.
  • Trudeau announces Pacific trade agreement without US

    Jan 24, 2018 — Canadian Prime Minister Justin Trudeau announced on Tuesday that Canada — along with the 10 other remaining countries in the Trans-Pacific Partnership (TPP) — would work toward creating a revised trade agreement.
  • Ocean Freight Industry Stabilized in 2017, Freightos Says

    Jan 24, 2018 — The ocean freight industry stabilized in 2017, with rates remaining relatively steady after the turmoil of 2016 from the bankruptcy of Hanjin Shipping Co., according to a report from online freight marketplace Freightos.
  • Trucking Industry Concerned About NAFTA Ending

    Jan 23, 2018 — The North American Free Trade Agreement became a critical component in the national economy when it was implemented in 1994. The trade deal is now facing major changes as partner countries rework its many provisions – a process that has been marred by contentious negotiations and a possible pullout by the United States.
  • Drewry: World Container Index inches up 2.4%

    Jan 22, 2018 — General rate increases from Asia to the U.S. East Coast gathered traction last week, with the Shanghai-New York trade strengthening by 18 percent from last week to reach $2,869 per FEU, Drewry reported.
  • Weaker Dollar Won’t Derail Global Growth: Mohamed A. El-Erian

    Jan 18, 2018 — The depreciation of the dollar was one of the market surprises of 2017, defying the predictions of many analysts and economists at the start of that year. Continued weakness in 2018 has led some, including European officials, to warn about possible detrimental effects on growth.
  • Freight prices eased, but now set to rebound, says Freightos

    Jan 16, 2018 — Airfreight prices that finally relaxed after the 2017 holiday season are poised to increase again with the approach of the Chinese New Year, occurring this year in mid-February, according to estimates from online pricing platform Freightos.
  • Three Japanese carriers looking forward to coming together as ONE

    Jan 4, 2018 — K Line, MOL and NYK are banking their future group profitability on the success of the Ocean Network Express (ONE) – the merger of the Japanese transport groups’ respective container businesses scheduled for April. According to reports, the trio say they expect to save ¥50bn ($440m) in costs in the first fiscal year ending 31 March 2019m and thereafter ¥110bn a year.
  • Global fleet capacity to bulge as more containerships are delivered in 2018

    Jan 3, 2018 — There will be a 5.6% growth in container fleet capacity this year, according to scheduled newbuild deliveries of 1.49m teu and expected in scrapping of some 350,000 teu, says Alphaliner. After 2017’s slight supply-demand rebalancing, the pent-up flood of newbuild deliveries this year will be a challenge for shipowners and container lines – especially if there is a dip in demand.
  • Shipping on course for recovery for 2018: analysts

    Dec 20, 2017 — Clouds lifting, calmer seas returning. But the 2018 marine forecast for transpacific and other major shipping trade routes also notes that full recovery from the dark days of 2015-16 depends on a number of political, economic and technological factors.
  • Idle containership numbers fall again, but newbuilds and M&A are a threat

    Dec 7, 2017 — The number of containerships in hot or cold lay-up has fallen to 114, from 136 in the past two weeks. Alphaliner warned that newbuild deliveries and M&A activity could reverse the downward trend. The analyst said the amount of idle cellular tonnage had declined from 520,365 teu to 464,802 teu, or 2.2% of the total global fleet, due to “unusual strength during the traditionally slow winter season”.