Container Shipping News

Furniture companies still paying for the supply chain crisis

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In 2021, I bought on Amazon a zesty asymmetrical mirror from a brand called “BIKARSOUL.” I paid...

https://www.freightwaves.com/news/furniture-companies-still-paying-for-the-supply-chain-crisis

Container lessor Triton to go private in $13.3B deal

The world’s largest owner and lessor of shipping containers, Triton International, is being taken private by Brookfield Infrastructure Partners in a deal valuing the company at $13.3 billion.

Brookfield Infrastructure (NYSE: BIP) will pay $85 per share for Triton (NYSE: TRTN), a 35% premium to Triton’s closing price on Tuesday. Triton shareholders will receive $68.50 per share in cash, with the remaining $16.50 paid in partial shares of Brookfield stock.

The deal, which Triton announced...

Port of LA boss: Good Friday work stoppage was ‘a call to action’

Cargo volumes at the Port of Los Angeles are rebounding just as fears of port labor disruptions are escalating.

On Wednesday, Port of Los Angeles Executive Director Gene Seroka announced a rise in imports in March versus February, with even higher volumes expected in the months ahead. At the same time, he said “there has been widespread concern over the ongoing West Coast labor contract negotiations and those concerns intensified last week.”  

The previous labor contract between the ILWU port...

https://www.freightwaves.com/news/port-of-la-boss-good-friday-work-stoppage-was-a-call-to-action

US imports bounce back in March despite dwindling China cargo

chart showing imports

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U.S. imports showed signs of life in March, rebounding from February, but the outlook remains highly...

https://www.freightwaves.com/news/us-imports-bounce-back-in-march-despite-dwindling-china-cargo

Container lines still up vs. pre-COVID despite fall from peak

chart showing revenue per 40-foot container equivalent

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Early numbers on the first quarter are starting to trickle in from container shipping lines. They...

https://www.freightwaves.com/news/container-lines-still-up-vs-pre-covid-despite-fall-from-peak

LA-LB outlook darkens as labor unrest briefly shutters ports

The Port of Los Angeles’ sales pitch to importers in recent months has been: We have plenty of capacity now. No more ship queues. The port labor contract expired July 1, 2022, but there has been no major disruption to imports during negotiations. No need to ship your goods all the way through the Panama Canal to the East or Gulf coasts. Come back to LA!

That sales pitch, to the extent it ever worked, died on Friday.

LA/LB closed for 24 hours

Terminal operations at the ports of Los Angeles and Long...

https://www.freightwaves.com/news/lalb-outlook-darkens-as-labor-unrest-briefly-shutters-ports

China-Russia vs. US-EU: How global shipping is slowly splitting in two

Another meeting between a House speaker and Taiwan’s president, another spike in tensions in the Taiwan Strait.

Last summer’s meeting between Taiwan President Tsai Ing-wen and Nancy Pelosi prompted Chinese live-fire exercises. Wednesday’s meeting with Speaker Kevin McCarthy prompted new Chinese sanctions targeting U.S. interests and a Chinese inspection plan targeting commercial ships in the Taiwan Strait. Chinese warships and helicopters were active in the strait on Friday.

Ever-worsening...

https://www.freightwaves.com/news/china-russia-vs-us-eu-how-global-shipping-is-splitting-in-two

Rail Roundup: Port of Virginia to invest $18M to upgrade facilities

Port of Virginia to invest more than $18M at Virginia Inland Port and Richmond Marine Terminal

The Port of Virginia is planning to invest more than $18 million to expand capacity at the Virginia Inland Port (VIP) near Front Royal and the Richmond Marine Terminal (RMT).

At VIP, the Port of Virginia has plans to expand and reconfigure the terminal’s rail operation and the container stack yard through building three new rail sidings and installing backbone infrastructure for technology, the port...

https://www.freightwaves.com/news/rail-roundup-port-of-virginia-to-invest-18m-to-upgrade-facilities

Maritime History Notes: Daniel K. Ludwig — father of the supertanker

FreightWaves Classics is sponsored by Old Dominion Freight Line – Helping the World Keep Promises®. Learn more here.

While Malcom McLean, founder of Sea-Land, is regarded as the father of the container ship, Daniel Keith Ludwig is recognized as the father of the supertanker.

Ludwig was born on June 24, 1897, in South Haven, Michigan, to a family involved in Great Lakes shipping. He quit school in the eighth grade and split his time between Michigan and Port Arthur, Texas, living with his...

https://www.freightwaves.com/news/maritime-history-notes-daniel-k-ludwig-father-of-the-supertanker

Mixed signals: Container shipping downturn not following the script

a photo of a container shipping CEO

Spot container freight indexes are still falling. Cargo shippers are signing annual contracts at sharply lower rates than last year. Import demand continues to be crippled by high inventories. A massive wave of new container ships is now hitting the market in full force.

And yet, the container shipping industry does not appear to be battening down the hatches for a looming storm. It is not behaving like an industry facing an imminent crisis.

The rates paid by liner companies to charter container...

https://www.freightwaves.com/news/mixed-signals-container-shipping-downturn-not-following-the-script

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