US Federal Maritime Commission intends to use the work of the DCSA as a “template” for data standards

Photo credit: Markus Spisks\e via Pexels

Carl W Bentzel, a commissioner of the US Federal Maritime Commission, has stated that the US FMC intends to use “much of what [the Digital Container Shipping Association] has done as a template for emerging national standards for intermodal maritime data, from point of origin to ultimate destination”.

Commissioner Bentzel added that DCSA standards provide an invaluable tool for achieving standardized, digital data communication in the industry.

The DCSA...

https://www.shippingaustralia.com.au/us-federal-maritime-commission-intends-to-use-the-work-of-the-dcsa-as-a-template-for-data-standards/

Hapag-Lloyd CEO: US consumer still ‘holding up,’ demand not collapsing

photo of a container ship

The container shipping outlook from Hapag-Lloyd, the world’s fifth-largest liner company: Demand is moderating, spot freight rates should keep ticking lower, and congestion — currently very high — should abate. But demand is not collapsing. Congestion in some regions, such as the U.S. East Coast, is more stubborn than in others. And higher contract rates will offset spot rate declines, leading to near-record second-half profits.

Container shipping demand

“The U.S. consumer seems to be holding up...

https://www.freightwaves.com/news/container-shipping-boss-us-consumer-still-holding-up-demand-not-collapsing

Tanker shipping stocks pull away from the pack, hitting fresh highs

a photo of Wall Street; shipping stocks are seeing mixed fortunes

Shipping stocks are not considered “buy and hold” investments these days — for good reason. It’s all about timing. Case in point: Tanker stocks are now soaring after years mired in negative territory.

Fresh 52-week highs were hit Tuesday by Scorpio Tankers (NYSE: STNG), Ardmore Shipping (NYSE: ASC), Euronav (NYSE: EURN), DHT (NYSE: DHT), International Seaways (NYSE: INSW) and Teekay Tankers (NYSE: TNK).

Tankers stocks are up double digits year to date (YTD), in some cases triple digits. However,...

https://www.freightwaves.com/news/tanker-shipping-stocks-pull-away-from-the-pack-hit-fresh-highs

No precipitous plunge in container shipping rates, just ‘orderly’ decline

A photo of a container ship; rates remain high

There’s an old Greek shipping saying that goes: “Ninety-eight tankers and 101 cargoes, boom. Ninety-eight cargoes and 101 tankers, bust.” This doesn’t translate so well into modern-day container shipping because the consolidated liner sector manages the number of ships in service a lot better than the fragmented tanker business.

Tanker spot rates can plunge violently lower when supply exceeds demand. One of the big questions for container shipping has been: Will spot rates plunge precipitously...

https://www.freightwaves.com/news/no-precipitous-plunge-in-container-shipping-rates-just-orderly-decline

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