Newsletter – April 18, 2018
OCEAN FREIGHT UPDATESConsolidation adding to ocean freight overcapacitysource: lloydloadinglist.comConsolidation in the container shipping industry and the formation of new super-sized alliances has had an unexpected side effect in the quest for stability and profitability: too many ships. Read more here.
Top-heavy growth in container tonnage sparks overcapacity concernssource: theloadstar.co.ukThe number of containerships sold for scrap has slowed dramatically as shipowners in the smaller sectors take full advantage of a rejuvenated charter market and reactivate mothballed tonnage. Read more here (login required).
Long Beach box growth tops still bigger than LA’s, but gap closessource: shippingazette.comTHE Port of Long Beach first quarter container throughput soared 19.4 per cent year on year to 1.9 million TEU while the neighbouring Port of Los Angeles suffered a 5.7 per cent decline to 2.1 million TEU. Read more here.
OOCL cancels A-E sailings in response to mainland’s May Day holidaysource: shippingazette.com
HONG KONG’s Orient Overseas Container Line (OOCL) is cancelling a number of Asia-Europe sailings after “Golden Week” mainland holiday from May 1. Read more here.
Prince Rupert cuts dwell time, clears obstruction, restores productivitysource: shippingazette.com
CONGESTION problems at the Port of Prince Rupert, 500 miles north of Vancouver, has been largely resolved after new berth builders and rail yard construction crews got out of each other’s way and restored near-normal cargo flow through the port. Read more here.
GROUND AND RAIL FREIGHT UPDATESTeamsters serves Canadian Pacific with strike noticesource: ctvnews.caCALGARY – The union representing about 3,000 conductors and locomotive engineers at Canadian Pacific Railway Ltd. says it has formally served the company with a 72 hour notice of an intent to strike. Read more here.