Unprecedented congestion and the resulting delays to vessels have the effect of removing vast amounts of capacity from the world container shipping fleet, internationally respected maritime analyst company Sea-Intelligence has indicated.
Using Sea-Intelligence’s proprietary data, the company found that huge amounts of capacity are being soaked up by delays imposed on vessels. Approximately 25% of capacity on the...
Containerships speckled across the sea, as far as the eye can see, is the dramatic vision off the U.S. coast at Los Angeles. Congestion is out of control in the U.S. and that’s why there are problems in Australia.
One set of footage has been provided by the U.S. Coast Guard. You can see it...
https://shippingaustralia.com.au/dramatic-vision-of-massive-u-s-boxship-congestion-off-los-angeles/
Shippers may be seething over perceived profiteering by shipping lines, but container ports remain more profitable and attractive to long-term investors, according to a new report.
Ocean Shipping Consultants’ (OSC) Port Sector Outlook 2021 paints a rosy picture for terminal operators, with volumes and profits holding steady despite the volatility from the Covid crisis.
“Shipping companies make for strong media interest, with high-profile consolidations and the evolution of vessel sizes dazzling...
Trucking and intermodal drayage company ContainerPort Group announced that end-to-end intermodal provider FSI Inc. and its independent contractors will transition to the CPG brand on Jan. 1.
The acquisition closed in October. Financial terms were not disclosed.
Charlotte, North Carolina-based FSI operates container terminals in the Carolinas, providing cross-docking, warehousing, yard operations, drayage, and maintenance and repair services. The company’s facilities connect to the rail lines of...
https://s29755.pcdn.co/news/containerport-group-adds-fsi-inc-to-portfolio
Stephen Edwards has been named the next leader of The Port of Virginia. He will succeed John Reinhart, who for the past seven years has led the Virginia Port Authority (VPA) as CEO and executive director.
Edwards currently is the president and CEO of TraPac LLC, which operates container terminals in Los Angeles and Oakland, California, and Jacksonville, Florida. His tenure with the VPA begins Jan. 19.
“Under John Reinhart’s leadership, The Port of Virginia has put all of the pieces in place for...
https://www.freightwaves.com/news/career-tracks-trapac-ceo-tapped-to-lead-port-of-virginia
Recent industrial action has presented considerable challenges to maintaining the efficiency and low costs of the supply chain. There are a number of adverse consequences including, unfortunately, campaigns of disinformation.
Lingering effects of congestion
As previously explained, the lingering effects of industrial action has caused extensive congestion for ships coming into Port Botany. Ships and shipping companies have a lot of daily...
DP World yesterday made an application to the Fair Work Commission to terminate industrial action on the grounds that the action threatens to cause significant damage to the Australian economy and to New South Wales.
“The new industrial action proposed at Port Botany – including unlimited bans on our three biggest customers for at least the next two weeks – endangers supply chains for critical products and exports and puts unacceptable pressure on the economy,” DPWA said in a statement.
Port...
The Hong Kong Seaport Alliance (HKSPA) has offered commitments to the city’s competition commission, after concerns its share of gateway cargo could be anti-competitive.
However, Hong Kong shippers describe the pledges, which include caps on service charges, as “paying lip service”.
The commission’s investigation, which began in January 2019 when the HKSPA was formed, found it was unlikely to give rise to competition concerns in the transhipment or barge markets, as there …
The post Shippers...
https://theloadstar.com/shippers-kick-back-at-empty-promises-from-hong-kong-seaport-alliance/
New container port capacity will be scarce, on the back of the Covid-19 throughput fallout, according to Drewry.
As terminal operators around the world struggle for volumes amid blanked sailings, the analyst forecasts container port capacity expansion will; contract by at least 40% over the next five years.
While capacity is still projected to grow 2.1% during the period, an additional 25m teu a year, this is well below the capacity growth …
The post Box terminal capacity expansion plans sunk by...
https://theloadstar.com/box-terminal-capacity-expansion-plans-sunk-by-ripples-from-covid/
DP World reported Monday that 2020 first-half volumes were down 3.9% from the same period last year and that it had acquired a 60% stake in UNICO Logistics.
DP World Ltd. handled 33.9 million twenty-foot equivalent units (TEUs) across its global portfolio of container terminals in the first half of 2020, with gross container volumes decreasing 5.3% year-over-year on a reported basis and 3.9% on a like-for-like basis.
DP World said like-for-like container totals adjust for volumes at Posorja,...
https://www.freightwaves.com/news/dp-world-volumes-decrease-portfolio-increases