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Maritime news articles about every aspect of the industry, including ports, container and breakbulk lines; and ships and ship chartering. Coverage also includes the impact of recent industry mergers and acquisitions, and of emerging new technologies such as blockchain, artificial intelligence, and the Internet of Things.From the largest container lines such as CMA CGM, MSC (Mediterranean Shipping Co.) and Maersk Line to smaller carriers such as Eimskip and Atlantic Ro-Ro Carriers, JOC.com covers the entire industry with unequaled intelligence, data, insight, statistics, and analysis. JOC.com regularly updates its proprietary data about the activity of largest ports, container lines, breakbulk lines and other stakeholders in the maritime shipping sector,
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Hapag-Lloyd targets profitability as volume slips

Jue, 11/14/2019 - 10:25
[caption caption="A strategy of increasing profitability rather than market share is emerging at German carrier Hapag-Lloyd. Photo credit: Shutterstock.com."][/caption]Hapag-Lloyd reported a slight decrease in volume in the third quarter, but at the same time improved its freight rate per TEU, allowing the carrier to boost its profitability.Apart from the volume...

Loss-making Yang Ming expects boost from expanded alliance

Mié, 11/13/2019 - 12:14
[caption caption="Yang Ming is cutting its losses, but still struggling to return a profitable result. Photo credit: Shutterstock.com."][/caption]Yang Ming is anticipating solid benefits from the addition of HMM to THE Alliance in April next year as the perennial loss-making carrier struggles to claw its way closer to profitability.A decision to...

MPV/HL charter rates stuck in sideways mode

Mar, 11/12/2019 - 15:49
[caption caption="Multipurpose/heavylift ship BBC Zarate discharging cargo at the Port of New Orleans. Credit: Port of New Orleans"][/caption]Time charter rates are up just a tick, according to Toepfer's Multipurpose Index (TMI). The average six- to 12-month time charter rate for a geared, 12,500-deadweight-ton F-type multipurpose ship reached $7,578 per day...

Evergreen clings to profitability in third quarter

Mar, 11/12/2019 - 11:15
[caption caption="Evergreen has managed to stay in the black during the third quarter, but not by much. Photo credit: Shutterstock.com."][/caption]Taiwan’s Evergreen Marine reported a significant decline in profitability in the third quarter despite a 10 percent increase in revenue and operating costs that remained relatively flat through the period.No volume...

Asia-North Europe carriers hold on to spot rate gains

Vie, 11/08/2019 - 11:55
[caption caption="Tightly managed capacity and rate increases has kept rates positive on Asia-Europe. Photo credit: Shutterstock.com."][/caption]The Asia-North Europe spot rate is now just 3 percent below where it was at this point last year, rising for the third consecutive week and building on a rebound since hitting a 12-month low...

IMO 2020 to disrupt ocean freight invoicing

Jue, 11/07/2019 - 14:30
[caption caption="Errors associated with processing invoices containing new low-sulfur fuel surcharges could potentially result in $100 million in discrepancies globally during the first few months of IMO 2020, an expert says. Photo credit: Shutterstock.com."][/caption]Shippers will need to pay extra attention to ensure their ocean freight bills are accurate as the...

Carriers unveil spot low-sulfur surcharges

Mié, 11/06/2019 - 12:03
[caption caption="HMM is one of four carriers known to have informed customers of low-sulfur surcharges from Dec. 1 on cargo moving on both the spot market and short-term contracts. Photo credit: Shutterstock.com."][/caption]The actual low-sulfur fuel surcharge cost per container shippers can expect to be applied to their spot market cargo...

Scrubber benefits emerge as bunker fuel spread widens

Mié, 11/06/2019 - 10:07
[caption caption="Ships with scrubbers will, at least initially, be filling up with fuel that is half the price of the very low-sulfur variety, giving them a cost advantage over rivals. Photo credit: Shutterstock.com."][/caption]Low-sulfur fuel remains more than double the price of its high-sulfur heavy oil counterpart, and should the spread...

US ag export decline belies deeper damage

Mar, 11/05/2019 - 14:45
[caption caption="US containerized agricultural exports to China fell 28 percent year over year in the first nine months of 2019 after slipping 11 percent for the full year in 2018. Photo credit: Shutterstock.com."][/caption]For the first time in four years, United States containerized agriculture exports have fallen compared with the previous...

CMA CGM joins Maersk, Hapag-Lloyd in low-sulfur surcharge for short-term contracts

Mar, 11/05/2019 - 09:26
 [caption caption="Carriers are ensuring spot rates are covered by a low-sulfur surcharge on the trades between Europe and Asia. Photo credit: Shutterstock.com."][/caption]CMA CGM has become the third shipping line to announce a low-sulfur surcharge from Dec. 1 for cargo moving on short term contracts of up to three months, joining...

Tariffs, capacity cuts spark surge in trans-Pacific spot market

Lun, 11/04/2019 - 09:14
[caption caption="Rates from China to the US West Coast have risen sharply, with GRIs, front-loading, and capacity management all playing a role in the perennial carrier struggle to balance supply with demand. Photo credit: Shutterstock"][/caption]Spot rates on the trans-Pacific rose strongly last week as capacity withdrawals, general rate increases, and...

Maersk joins Hapag-Lloyd in levying low-sulfur surcharge

Vie, 11/01/2019 - 12:37
[caption caption="Maersk became the second carrier to announce a low-sulfur surcharge targeting spot and shorter-term contracts. Photo credit: Shutterstock.com."][/caption]Carrier determination to pass on all additional costs associated with the switch to low-sulfur fuel was made even clearer as Maersk Line joined Hapag-Lloyd in announcing a surcharge for containerized cargo moving...

Asia-Europe carrier capacity management allows rate hikes to take hold

Vie, 11/01/2019 - 11:02
[caption caption="Spot rates on the Asia-North Europe trade rose sharply this week as carriers imposed the Nov. 1 increases on the market on top of a blanked sailings programme. Photo credit: Shutterstock.com."][/caption]Asia-North Europe rates shot up 16 percent this week, buoyed by carriers withdrawing capacity from the trade and Nov....

Hapag-Lloyd to levy interim low-sulfur surcharge

Jue, 10/31/2019 - 09:29
[caption caption="Hapag-Lloyd will be implementing the IMO 2020 Transition Charge (ITC) from Dec. 1 to cover volatility in prices over the transition period when carriers switch to the new fuel. Photo credit: Shutterstock.com."][/caption]Shippers with Hapag-Lloyd will soon have a new low-sulfur fuel surcharge to contend with as the carrier targets...

UN: Shipping must adjust to shifting trade, environmental pressures

Mié, 10/30/2019 - 11:00
[caption caption="Trade tensions and the costs of environmental compliance will test the global shipping industry, UNCTAD believes. Photo credit: Shutterstock.com."][/caption]An agency of the United Nations has warned that a “new normal” was taking hold in the world supply chain, characterized by moderate growth in the global economy, the restructuring of...

Clean Cargo reports declining CO2 emissions per container

Mié, 10/30/2019 - 09:25
[caption caption="Container shipping has been making progress in cutting its CO2 emissions over the past few years, data show. Photo credit: Shutterstock.com."][/caption]Momentum is building in the drive to decarbonize global shipping, and while the industry searches for a zero-carbon fuel of the future, significant progress is being made down at...

Major global shippers join Maersk in new biofuel project

Mar, 10/29/2019 - 09:19
[caption caption="Laboratory testing is under way on a new biofuel that Maersk and its shipper partners are exploring as a possible fuel of the future. Photo credit: Shutterstock.com."][/caption]Another step has been taken in the search for shipping’s fuel of the future, with four global shippers joining Maersk Group and Wallenius...

Asia-Europe spot rate ends eight-week slide

Vie, 10/25/2019 - 11:57
[caption caption="Carriers appear to have better matched capacity with demand as rates managed to inch upwards this week. Photo credit: Shutterstock"][/caption]Spot rates on Asia-North Europe this week ended a two-month slide during which rates lost a third of their value and reached levels not seen in well over a year.But...

K+N turns in solid ocean growth in ‘tense’ market

Mar, 10/22/2019 - 12:23
[caption caption="Forwarder Kuehne + Nagel saw its ocean freight volume rise 4.3 percent year over year in the third quarter of 2019. Photo credit: Shutterstock.com."][/caption]Despite the cooling effects of trade disputes, slowing economies, and falling demand on global trade, Kuehne + Nagel (K+N) reported strong growth in ocean freight in...

CMA CGM offers new trade finance product

Lun, 10/21/2019 - 11:13
[caption caption="Importers and exporters will now have access to a new CMA CGM trade finance product. Photo credit: Shutterstock.com."][/caption]CMA CGM has launched a trade finance product for importers and exporters, offering a range of solutions from extended payment terms to financing advances that capitalize on the emergence of platforms making...

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