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Ocean Transportation: Page 166

Ocean Shipping Overcapacity Continues, Confidence in Airfreight Market Still on Decline

The Stifel Logistics Confidence Index fell into a fifth consecutive month of decline in October. Significantly, the index has now fallen beneath the neutral 50 point mark for the first time since January 2013, with confidence in both the sea freight and airfreight markets plummeting. The Logistics Situation for airfreight was especially bad, declining by 3.2 points to 45.7. The same trends that influenced last month's decline are persisting, with weak emerging market growth, China's financial crisis, and the Chinese shift towards domestic consumption all influencing the trajectory of the index.

Given Global Overcapacity, Chinese Province Orders Huge Cutback in Ship Building

Severe shipyard overcapacity in China has prompted the National Development and Report Commission's Jiangsu province to cancel work on 23 projects. The projects included construction of new docks, offshore vessels, facility conversion projects and additional expansions.

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Once Sanctions Cash Rolls In, Iran Plans to Beef Up Its Maritime Fleet

With U.S.-led sanctions expected to be lifted soon as part of July's nuclear deal, Iran has unveiled a $120bn fleet expansion campaign.

Will Mexico's Growing Ports Pose a Threat to U.S. Gateways?

Mexico is competing with the U.S. for manufacturing work coming back to the western hemisphere from China and other parts of Asia. Will it pose the same challenge for U.S. ports?

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Container Lines Show Marked Improvement in On-time Performance in Three Main East-West Trades

Container service reliability across the three main East-West trades reached a new data series high in September, rising by 6.5 percentage points over August to the new record of 79.9 percent, according to Carrier Performance Insight, the online schedule reliability tool provided by Drewry Supply Chain Advisors.

AAPA Offers Interactive Map of Member Ports

The American Association of Port Authorities has created an interactive western hemispheric map of its member ports.

Marisol Opens Seattle Office; Roadrunner Expands in Canada

Marisol International LLC, a provider of international freight forwarding, non-vessel operating common carrier and customs brokerage services, is opening a new office in Seattle, in conjunction with the newly formed Northwest Seaport Alliance.

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Container Ships Lead the Way as Panama Canal Sets New Tonnage Record

The Panama Canal Authority (ACP) has set a new historical tonnage record, welcoming 340.8 million Panama Canal tons (PC/UMS) through the canal in the 2015 fiscal year.

Look for Continued Years of Overcapacity of Ocean Container Vessels

Slowing global trade and a bloated orderbook of large vessel capacity mean that container shipping is set for another three years of overcapacity and financial pain, according to the latest Container Forecaster report published by global shipping consultancy Drewry.

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Breakbulk Americas 2015 Grows to Become the Largest Transport & Logistics Event in US

October 5-8, 2015 | Houston, TX

Cargo Shipping Rates on East-West Lanes Have Fallen Sharply Since Early 2014

Ocean freight rates for cargo moving under contracts on the major East-West routes have seen a sharp reduction since the beginning of the year, according to Drewry's Benchmarking Club, a closed user group of multinational retailers and manufacturers who closely monitor their contract freight rates.

Environmental Concerns Delay Start of Construction of Nicaragua Inter-ocean Canal

The Nicaragua Canal project has been dealt another setback amid reports that construction will not begin until the first quarter of 2016 due to environmental mitigation measures.

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