Ocean carriers

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

CMA CGM buying large stake in last-mile delivery company

Split photo with a container vessel, man working in a warehouse and a man making a package delivery.

Ocean shipping powerhouse CMA CGM announced Monday it has tentatively agreed to acquire a 51% stake in French last-mile delivery company Colis Privé Group, furthering its spread into the third-party logistics and e-commerce realms as part of a strategy to be an integrated provider of supply chain services.

The third-largest container line in the world by fleet size made the deal to strengthen its large Ceva Logistics subsidiary, which it acquired in 2019. Ceva is investing heavily to increase...

https://www.freightwaves.com/news/cma-cgm-buying-large-stake-in-last-mile-delivery-company

Port of Oakland plans empty container yard to help ag exporters

Aerial view of containers at a big port.

The Port of Oakland, in collaboration with California and federal officials, is redoubling efforts to remove hurdles making it difficult for agriculture exporters to reach overseas markets. 

The port authority announced Monday it is setting up a 25-acre staging area on port property where empty containers can be stacked and made available for rapid access by exporters, partnering with state and federal agencies to promote the facility and reiterated calls for ocean carriers to restore service to...

https://www.freightwaves.com/news/port-of-oakland-plans-empty-container-yard-to-help-ag-exporters

Shipping giant MSC offers to buy Africa unit of Bolloré Logistics

A large container vessel with MSC on hull at a port with large cranes hovering over it.

Mediterranean Shipping Co., the world’s second-largest ocean container line, has made an offer to acquire the Africa division of Bolloré Group, the France-based third-party logistics provider announced Monday. 

The move is part of a recent trend that has seen ocean carriers and terminal operators become more vertically integrated freight transportation and logistics providers to diversify their revenue streams and offer customers holistic supply chain solutions based on variable needs. Supply...

https://www.freightwaves.com/news/shipping-giant-msc-offers-to-buy-africa-unit-of-bollore-logistics

FreightWaves Classics: JP Morgan sought a trans-Atlantic monopoly

The SS United States, flagship of the United States Line. (Photo: united-states-line.org)

A recent FreightWaves Classics article provided an overview of J.P. Morgan’s activities in the U.S. railroad industry. This article will provide an overview of Morgan’s attempts to create an ocean shipping trust.

J.P. Morgan. (Photo: biography.com)J.P. Morgan. (Photo: biography.com)

Founding the IMM 

The shipping industry was prosperous in the late 19th century; this led some to attempt to create a trust or monopoly that would control major U.S. shipping companies. None of the efforts during the 1890s were successful, however....

https://www.freightwaves.com/news/freightwaves-classics-jp-morgan-sought-a-trans-atlantic-monopoly

SoCal ports could fine carriers for tardy containers by Nov. 15

Aerial view of containers stacked at a port.

Port authorities in Los Angeles and Long Beach plan to start assessing and collecting late fees on loaded import containers that remain on the docks for extended periods as soon as Nov. 15. The information was disclosed in agendas for emergency meetings of the respective harbor commissions on Friday.

The boards will vote on plans submitted by port staff to charge ocean carriers $100 per day, increasing in $100 increments per container per day, for containers scheduled to move locally by truck...

https://www.freightwaves.com/news/socal-ports-could-fine-carriers-for-tardy-containers-by-nov-15

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