Newsletter – March 28, 2018
OCEAN FREIGHT UPDATESCharter market capacity crunch will put a dent in carrier profitabilitysource: theloadstar.co.ukContainership charter rates are at a 30-month high on the back of strong demand, and Alphaliner is predicting an “impending capacity crunch”.This will come in most vessel sizes as carriers return to full sailings after the Chinese new year, it says. Read more here (login required)
HMM pulls out of US east coast and switches focus to India, Europesource:shippingazette.comHYUNDAI Merchant Marine (HMM) has shelved negotiations with Israeli shipping line Zim to cooperate on services to the east coast of North America and will cease to operate on the route for now.HMM had originally planned to deploy two 8,500 TEU vessels on Zim’s Z73 route service that calls at ports on the east coast of the North America. Read more here.
Mega ships dumping mega cargoes at LA-LB lengthens truck turn timessource:shippingazette.comMEGA ships dumping mega cargo at the adjacent ports of Los Angeles and Long Beach mean longer turn times for trucks, just as smaller ships unloading boxes mean shorter ones, reports IHS Media.
GROUND AND RAIL FREIGHT UPDATESONE enlists Union Pacific to handle container freight from USWCsource: shippingazette.comOCEAN Network Express (ONE) has contracted the Union Pacific (UP) railway to handle intermodal shipments from and to US west coast ports.
With a global fleet of 250 vessels, ONE was established through a merger of Japan’s three largest ocean liners – MOL, NYK and “K” Line, reported the American Journal of Transportation. Read more here.
INTERNATIONAL BUSINESS GOVERNMENT UPDATESShippers voice concerns over threat of trade warssource: lloydloadinglist.comGlobal shipper representatives have voiced their concerns over looming potential trade wars, calling on world leaders to solve the dispute on import tariffs and work on decreasing the red tape in international trade Read more here.
Shipping seen as the softest of hacker targetssource: splash247.comShocking statistics published yesterdasy show just what a soft target shipping is for, for hackers.A survey of nearly 6,000 active seafarers carried out by consultancy Futurenautics has shown 47% of respondents said that they had sailed on a vessel that had been the target of a cyber attack. Read more here.