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European and US ports feel the squeeze in volatile market

The shifting sands of economic activity are being mirrored in the development of the ports industry with terminals in emerging economies beginning to rise in the rankings as regional ports become more important.

Alphaliner’s annual list of top 30 ports has seen Dubai replace Rotterdam in the top ten, an event that owes more to Rotterdam’s declining volumes than Dubai’s growth, while Tanger Med has overtaken Hamburg in the listing.

Predictably, six of the top ten ports are Chinese, with the...

https://container-news.com/european-and-us-ports-feel-the-squeeze-in-volatile-market/

Seoul earmarks US$2.5 billion to boost vessel capacity of smaller box lines

As part of plans to grow the locally owned container shipping fleet, the South Korean government will set aside around US$2.5 billion to increase the fleets of SM Line and other South Korean feeder operators by 100,000 TEUs.

The kitty is targeted at SM Merchant Marine, commonly known as SM Line, Sinokor Merchant Marine, Korea Marine Transport Company (KMTC Line), Pan Ocean, CK Line, Namsung Shipping and Dongjin Shipping.

Currently, these companies have a combined boxship fleet of approximately...

https://container-news.com/seoul-earmarks-us2-5-billion-to-boost-vessel-capacity-of-smaller-box-lines/

Major container lines jointly launch Asia – East Coast South America service

Five of the largest ocean carriers are cooperating to introduce a new service connecting important ports in Asia with the East Coast of South America.

In particular, CMA CGM, COSCO, OOCL, Evergreen and PIL will jointly launch the new service on the Asia-Latin America trade in May.

The service will have two separate loops. The first loop will be operated by 12 container ships of up to 14,000 TEU capacity and will commence on 5 May from the port of Tianjin.

The rotation of the first loop will...

https://container-news.com/major-container-lines-jointly-launch-asia-east-coast-south-america-service/

Stormy weather sends Middle East supply chains out of whack

Days of bitterly unusual weather across the Persian Gulf region have sparked serious concerns for ocean and air freight stakeholders, dealing another blow to supply chains already caught up in worsening geopolitical setbacks after the Iran-Israel faceoff.

Cargo agents and other shipping industry sources in Dubai have reported significant cargo delays and backlogs, which they believe could take up to a week to clear up and return to normalcy.

Sources have also told Container News that many ports...

https://container-news.com/stormy-weather-sends-middle-east-supply-chains-out-of-whack/

PIL joins DCSA to proceed with shipping digitalisation standards

Singaporean box carrier Pacific International Lines (PIL) has joined the non-profit organisation, Digital Container Shipping Association (DCSA), to drive standardisation and digital innovation in the container shipping industry.

DCSA’s founding members consist of 9 of the 10 largest container shipping companies worldwide and represent approximately 70% of global container trade. The association was founded to accelerate digitalisation by streamlining and harmonising data standards, thereby...

https://container-news.com/pil-joins-dcsa-to-proceed-with-shipping-digitalisation-standards/

Port of Rotterdam handles 3.3 million TEUs in 2024 Q1

For the first time in three years, the container segment of the Rotterdam port is experiencing a slight uptick in throughput volumes.

There’s been a 3.3% increase in tonnes moved, rising from 31.5 million tonnes to 32.5 million tonnes, and a 2% rise in TEUs, reaching 3.3 million TEUs in the first quarter of 2024 at the Dutch port.

The situation in the Red Sea resulted in a notable decline in ships (-24.5%) and volume from Asia (-13.7%) during January and February, attributed to delays and missed...

https://container-news.com/port-of-rotterdam-handles-3-3-million-teus-in-2024-q1/

Port of Los Angeles surpasses 740,000 TEUs in March

In March, the Port of Los Angeles saw a remarkable surge, handling 743,417 container units, marking a 19% increase compared to the same month in the previous year.

This achievement marked the eighth consecutive month of year-over-year growth at the busiest port in the United States.

During the first quarter ending on 31 March, local dockworkers facilitated the movement of 2,380,503 TEUs across Los Angeles marine terminals, representing a nearly 30% rise from 2023. This performance ranks among the...

https://container-news.com/port-of-los-angeles-surpasses-740000-teus-in-march/

Covid pandemic wiped 24.6 million TEUs off container market growth

“Due to the Covid-19 pandemic, the global container market grew only 1.5% from 171
million TEU in 2019 to 173.5 million TEU in 2023. Without the pandemic, that figure would
have been 24.6 million higher, landing at 198.1 million in 2023,” says Niels Rasmussen, Chief Shipping Analyst at BIMCO.

During the past four years, the container market has faced not only lower-than-expected
growth in the global economy, but the ratio of market growth vs economic growth, the so-
called GDP multiplier, was...

https://container-news.com/covid-pandemic-wiped-24-6-million-teus-off-container-market-growth/

Jebel Ali returns to top-10 busiest container ports

Alphaliner’s report said the Middle East’s largest container port, Dubai/Jebel Ali, has re-entered the top 10 ranking of global container ports, overtaking Europe’s biggest port and demonstrating the scale of the economic slump in Europe.

Jebel Ali processed 14.47 million TEUs in 2023, up from 13.97 million TEU in 2022, enabling the UAE port to return to the top 10 after dropping out in 2019. Its rise also knocked out the languishing Hong Kong port from the top 10 list, as the territory’s...

https://container-news.com/jebel-ali-returns-to-top-10-busiest-container-ports/

Port of Portland closes container terminal due to financial issues

Port of Portland has decided to halt its container operations in October due to financial challenges, according to several US media.

The major port in Oregon seems to be facing financial difficulties and as an agreement with a third-party operator was not completed, the Port of Portland said it cannot afford to keep the box terminal open past September.

According to OPB, the Port of Portland has lost over US$30 million in the last three years, including a projected US$14 million shortfall for...

https://container-news.com/port-of-portland-closes-container-terminal-due-to-financial-issues/

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