The Danish ocean carrier will cease calls to the two Chinese ports of Shanghai and Shenzhen on one service each due to severe congestion in the region, a Maersk spokesperson confirmed Friday.
FTR: LA wildfires having limited overall impact on Calif. freight market
Intermodal industry analyst FTR and load board Truckstop.com have found that despite ongoing wildfires in the Los Angeles area, California outbound van volumes were at a “normal” level for early December.
Spot container rates spike on Shanghai-U.S. trades
Since last week, spot rates from Shanghai to the U.S. West Coast jumped 9.7 percent, while spot rates from Shanghai to the U.S. East Coast increased 9 percent, according to the Shanghai Shipping Exchange’s Shanghai Containerized Freight Index (SCFI).
Report: Yang Ming plans to scrap 20 vessels, renew fleet
The Taiwanese ocean carrier recently received $343 million in debt-turned-investments from Taiwan International Port Corp., which is plans to inject into newbuilds or charters for the Southeast Asia trade lane, according to Splash 24/7.
SJ Logistics, HMM launch joint Asia-Europe rail service
Hyundai Merchant Marine (HMM) will transport cargoes from South Korea to China, which will then be loaded onto the Trans China Railway by SJ Logistics for transport to Europe, an HMM spokesperson has confirmed.
Major expansion project at Port of Kaohsiung completed
The project involved three suction hopper dredgers creating 250 hectares of new land to accommodate many terminals and wharves, according to dredging contractor Van Oord.
Drewry: World Container Index down 2% this week
So far this year, the average composite index of the World Container Index (WCI), assessed by London-based maritime industry consultant Drewry, stands at $1,466 per FEU, $128 lower than the five-year average of $1,595 per FEU.
St. George Logistics expands Chicago footprint by acquiring Channel Distribution Corp.
Acquisitions will remain an important driver of growth for third-party provider St. George Logistics (STG), according to Konrad Salaber, managing director at Wind Point Partners, the private equity firm that acquired STG in July 2016.
CMA CGM to offer new line of cargo insurance products
The French ocean carrier is “starting a new concept: the commitment to compensate for any kind of unforeseen events,” CMA CGM said in a statement.
Port Corpus Christi to handle 3,000 wind turbine parts by year’s end
Port Corpus Christi in the Texas Gulf continues to make investments in infrastructure, including another 25-acre laydown yard, in an effort to attract wind turbine component manufacturers to its docks.