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Ocean Transportation: Page 98

Average Container Prices and Leasing Rates Decline in China Amidst Peak Season Shipping

Average container prices halved from August 2021; leasing rates declined by 17% from June to July this year. Further, China to Canada one-way leasing rates decline at the highest rate by 49 per cent as compared to China to any other country.

Source: Shutterstock

Europe’s Natural-Gas Crunch Sparks Global Battle for Tankers

Europe’s energy crisis is unleashing a global battle over liquefied natural-gas (LNG) tankers, with rates to charter the specialized ships jumping to record highs.

An LNG power ship undocks in Singapore. Photo: Bloomberg.

Podcast | Maritime Intelligence: Can AI Predict the Unpredictable?

On this episode, we learn how carriers can improve their service record through the use of data analytics and an unprecedented level of visibility. The answer lies in the application of artificial intelligence and machine learning.

0415 Shipping Industry

Another Month of High Volume at Port of L.A., While Exports Continue to Fall

July saw another “outstanding” month for cargo volumes at the Port of Los Angeles and wait times were down, said port executive director Gene Seroka, while noting that exports had continued to decline for three years.

An aerial view of Pier 400 at the Port of Los Angeles. Photo: Port of Los Angeles.

China Restarts Military Drills in Response to Latest U.S. Lawmakers’ Visit to Taiwan

China is resuming its military drills in the region following the surprise arrival of a new delegation of U.S. lawmakers, apparently aimed at demonstrating Beijing’s ability to mount a blockade of Taiwan.

A China and U.S. flag wave side by side in the wind. Photo: Getty.

U.S. Supplier Inflation Logs Slowest Pace Since Last Fall

A key measure of wholesale costs shows U.S. suppliers raised prices in July at the slowest annual pace since last fall, adding to signs that the rapid growth in production expenses that has helped fuel consumer inflation is easing.

A heavy goods vehicle drives down a highway at dusk. Photo: Getty.

FMC Seeks Comments on Possible Emergency Order to Share Information

If the Commission issues an emergency order, common carriers and marine terminal operators would be required to share directly with relevant shippers, rail carriers, or motor carriers information relating to cargo throughput and availability.

A CMA CGM Group container ship is berthed at the Port of Oakland in Oakland, California. Photo: Port of Oakland.

Container Lines Are Set to Smash Year-Old Profit Record by 73%

The world’s biggest container lines are on course to post profits in 2022 that will top last year’s record by 73%, according to a new forecast, buoyed by logistics and labor strains that are squeezing capacity amid sustained U.S. demand for imports.

A crane carries shipping containers owned by AP Moller-Maersk A/S away from a ship. Photo: Bloomberg.

Strike Action Likely at U.K. Port of Felixstowe

With pay talks deadlocked, it seems increasingly likely that the Port of Felixstowe will be closed by strike action toward the end of August, warns project4

A gantry crane lifts a shipping container. Photo: Shutterstock.

Maersk Buys Danish Project Logistics Company for $61 Million

A.P. Moller Maersk A/S agreed to by a Danish project logistic company Martin Bencher Group, as the transport giant spends some of its windfall from surging container rates to expand its land-based operations.

A crane carries shipping containers owned by AP Moller-Maersk A/S away from a ship. Photo: Bloomberg.

Ukraine’s Grain Corridors Still Need Ships to Ease Food Crisis

Ukraine’s first shipments of grain since being invaded by Russia are a harbinger of relief for squeezed global markets, but many challenges remain before the millions of tons of food stuck in the country can be released.

A gantry crane loads a shipping container filled with corn for export from a grain terminal operated by Cargill Inc. Photo: Bloomberg.

Russia Finds a New Route to Oil Market Via a Tiny Egyptian Port

Russia appears to have found a new means of getting its oil to market with western sanctions looming for Moscow, via Egypt’s El Hamra oil terminal.

An oil tanker is berthed at a Russian port. Photo: Getty.

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