Ocean carriers

A ‘Crystal Ball’ Outlook For Ocean Carrier Earnings This Year

Credit: ian-taylor-unsplash

After two years of record profitability, liner industry ocean carriers are busy collating their earnings from what has been an extremely challenging first quarter. The tailwind effect of unexpired higher contract rates is likely to see most lines achieve respectable results for Q1, but thereafter it may be a different story, reports The Loadstar.

The liner industry to remain in the black?

According to Blue Alpha Capital founder John McCown’s analysis of 2022 container...

https://mfame.guru/a-crystal-ball-outlook-for-ocean-carrier-earnings-this-year/

House panel eyes ending ocean carriers’ antitrust exemption

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In a subcommittee hearing on Tuesday, members of Congress discussed overturning antitrust immunity...

https://www.freightwaves.com/news/house-panel-eyes-ending-ocean-carriers-antitrust-exemption

Although NOOs Observe A Recovery In Demand, Maersk Idles More Ships

Credit: frank mckenna/Unsplash

While demand on the key east-west trade lanes is still sluggish, Maersk is leading the pack in stockpiling excess tonnage. Yet, the carrier may be vulnerable to competitors’ aggressive attempts to take market share, as reported by The Loadstar.

New services and routes 

Maersk topped the list of ocean carriers for idle tonnage, according to an Alphaliner assessment, with 29 ships totalling 281,400 teu in lay-up, including 17 vessels larger than 7,500 teu.

Following...

https://mfame.guru/although-noos-observe-a-recovery-in-demand-maersk-idles-more-ships/

CargoX to provide blockchain FreightTech to former TradeLens users

Blockchain document transfer facilitator CargoX announced Tuesday it will be partnering with CEBS Worldwide to facilitate bill of lading digitalization for former TradeLens customers.

In 2018, IBM and GTD Solution, a division of Maersk, launched the blockchain platform TradeLens with the principal objective to leverage technology to eliminate the use of paper BOLs in global shipping.

While TradeLens was able to onboard global carriers — CMA CGM, MSC Mediterranean Shipping Co., Hapag-Lloyd, Ocean...

Stormy Seas Ahead for Cargo Carriers?

Credits: Guillaume Bolduc/Unsplash

After posting another record year of profits, worldwide recessionary and inflationary pressures are now chipping away at ocean carrier fortunes. As far as rates are concerned, our analysts suggest that shippers and freight forwarders will be able to do a little window shopping this year, reports Logistics Management.

Global recession hits container market

Global ocean carriers reached the top of the bullish market in 2022 by realizing high profits largely due to...

https://mfame.guru/stormy-seas-ahead-for-cargo-carriers/

China’s outbound container volumes take another step down

Daily ocean container departures from China to all ports globally have taken another step down, according to data in FreightWaves SONAR Container Atlas, falling to minus-22% year over year on Nov. 23.

Ocean container departures from China mounted a recovery following Golden Week — the first week of October this year — but then slipped again as weak demand abroad and renewed COVID-19 lockdowns in Guangzhou took a toll on economic activity.

(Ocean container bookings by day of departure from all...

https://www.freightwaves.com/news/chinas-outbound-container-volumes-take-another-step-down

Experts urge quick action to comply with ocean shipping reform law

Aerial view of Port of Los Angeles Pier 300

American shippers and the lawmakers supporting them were ecstatic that the Ocean Shipping Reform Act of 2022 (OSRA) passed less than a year after it was introduced in Congress. However, that means all companies involved in ocean shipping must quickly start making operational changes to comply with the law, which addresses carrier billing and related issues.

The Federal Maritime Commission (FMC) underscored that message on June 24, when the agency’s general counsel issued an opinion confirming...

https://www.freightwaves.com/news/experts-urge-quick-action-to-comply-with-ocean-shipping-reform-law

FreightWaves Classics: US Steel owned an “in-house” shipping company

The SS Steel Chemist. (Photo: Frank E. Gerhardt/Walter E. Frost Collection)

In 1910, James A. Farrell was an executive at U.S. Steel Corporation, which at that time was the second-largest steel company in the United States. Farrell determined that it would be more cost-effective for U.S. Steel to own its own fleet of freighters to transport steel products rather than chartering cargo space from shipping companies. 

Therefore, U.S. Steel founded the Isthmian Steamship Company for the stated reason to mitigate the costs of shipping U.S. Steel’s freight. The company was...

https://www.freightwaves.com/news/freightwaves-classics-us-steel-owned-an-in-house-shipping-company

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