World Maritime News

December 14, 2022

Topics on container freight rates Container spot freight rates are soon likely to sink below pre-pandemic levels. Declining freight rates are expected to slash container companies’ bottom line by more than half next year. According to maritime research and consultancy firm Drewry, the profits of key liners are expected to fall to $100bn next year from $275bn this year. Read more: Lloyd's List1 | Lloyd's List2 Topics on shipping lines Emerging carriers with smaller vessels deployed on Asi

World Maritime News (45)

November 30, 2022

World Maritime News

Challenges shipping lines face Trans-Pacific carriers are rapidly accelerating the number of blank sailings amid declining US demand for imports from Asia, inventory corrections by retailers, and fears of an economic recession next year. According to Sea-Intelligence, the accelerated blankings come after US imports in September and October “can at best be described as a complete collapse in demand growth.” In addition, carriers are announcing additional blanked sailings every couple of weeks to

World Maritime News (44)

November 09, 2022

World Maritime News

Maersk's transformation wins over customers Maersk's transformation from an energy and shipping conglomerate to an integrated container logistics group has proved a clear winner, with customers driving the process forward. With billions of dollars worth of mergers and acquisitions, Maersk withdrew from energy-related activities to focus on supplying services along the supply chain. The takeover of LF Logistics in the third quarter will further rebalance the business portfolio. Read more: Llo

World Maritime News (43)

October 26, 2022

World Maritime News

Outlook for shipping rates Major Chinese seaports are seeing a drop in container throughput, underlying a continued weakening of cargo demand and freight rates. Due to slack demand on transpacific and China-Europe trades, rates are expected to continue lurching lower amid easing congestion. The release of containership capacity previously tied up in congestion, combined with slowing volume demand, has sent the supply/demand balance back to the pre-pandemic levels. As a result, additional press

World Maritime News (42)

October 12, 2022

World Maritime News

Ports group seeks to close gap in investment According to the International Association of Ports and Harbors’ report, the supply chain disruption that emerged with the pandemic has shown up a series of weaknesses in the port sector that have been driven by long-term underinvestment in the sector. The report identified the principal gaps in port and port-related infrastructure in terms of efficiency, connectivity and accessibility, digitalization, decarbonization, shipping costs, and regulatory

World Maritime News (41)

September 28, 2022

World Maritime News

Topics on shipping lines and logistics Many governments are looking for ways to fund emergency measures to shield their populations from the impact of the energy crisis. So it is reasonable to expect renewed attention on the lenient tax regime shipowners have long enjoyed. When an industry is raking in billions of dollars of profit each quarter and paying less than two percentage points of tax, expect politicians and the public to take notice. That is the situation facing container shipping, wh

World Maritime News (40)

September 14, 2022

World Maritime News

Outlook for freight rates Transpacific container shipping markets continue their downward spiral, with spot rates now largely falling below $4,000 per feu on routes to the US west coast. The levels are said to be approaching the breakeven point even for the larger carriers. After a two-year frenzy, the container shipping market shows signs of normalization. The question now is how it will avoid past mistakes during a period of slowdown. Read more: Lloyd's List1 | Lloyd's List2 Measures a

World Maritime News (39)

August 31, 2022

World Maritime News

Outlook for container freight rate The peak in freight rates may have already passed. But even getting rates down to a 'new normal' of twice their 2019 levels will take up to two years. Spot rates may have fallen by one-third from their extreme peaks, but shippers should not expect rates to return to pre-pandemic levels for at least another year. Markets are expected to head further south this year amid weaker demand after the peak season. As a result, spot rates on the China-US west coast tra

World Maritime News (38)

July 20, 2022

World Maritime News

Congested US rail system threatens 'nationwide logjam' Los Angeles and Long Beach reported record high volumes in June. But disruptions in the inland supply chain threaten to set back work done to ease congestion. According to Gene Seroka, executive director of Port of Los Angeles, the US needs to solve the issues with its congested railway system to avoid further supply chain congestion during the peak season for containerized freight imports. "All eyes are focused on improving our rail produ

World Maritime News (37)

July 05, 2022

World Maritime News

Port congestion in Europe The number of vessels waiting in European anchorage remains steady, but congestion is still a problem behind the scenes. A rise in coronavirus infections is responsible for the labor shortage. The beginning of the summer holidays is putting further stress on operations. Strikes over pay at Germany’s North Sea ports threaten to worsen the situation in Europe. Negotiations between the German trade union and the Central Association of German Seaport Companies have failed

World Maritime News (36)

June 21, 2022

World Maritime News

Situations of port congestion in the US, Europe, and China The key US west coast gateway ports of Los Angeles and Long Beach are improving even as Europe’s congestion situation continues to deteriorate. “Although major North American ports remain heavily congested, we are now seeing some small signs of improvement on the west coast,” said Drewry senior analyst Eleanor Hadland. Already congested ports in North Europe are bracing for a spike in volume this summer following the lifting of COVI

World Maritime News (35)

June 07, 2022

World Maritime News

Middle East container ports most efficient globally in 2021: index Ports in the Middle East were the most efficient in the world in 2021 amid widespread disruption stemming from a pandemic-induced spike in volumes flowing from Asia to North America and Europe, according to the second edition of the global Container Port Performance Index (CPPI), jointly developed by the World Bank and IHS Markit, now part of S&P Global. Middle East gateways represented four of the top five ports in the annu