Even if the freight rates for containers are falling the “cartel” and “excessive profit” claims by Shippers continues:
Current measures of competitiveness in the global liner shipping market are incomplete and therefore inaccurate and fail to take full account of the degree of co-operation between carriers which results in a more highly concentrated industry, claims...
Estimated reading time: 3 minutes
Higher fuel coast, long delays waiting for berth (burning fuel while steaming out of sight of the public in some cases) higher crew coasts etc. is not a subject that feature into the equation.
I’m assuming US owned Container lines are profiting from the high freight rates as well, not only the “greedy foreigners”?
About time:
Singapore-headquartered Ocean Network Express (ONE), the world’s 7th largest carrier, will fine clients that misdeclare the weight of their containers on the westbound Asia-Europe tradelane from July 1.ONE’s weight discrepancy charge will hit clients...
Estimated reading time: 1 minute
The fine for misdeclaring - or failing to declare - hazardous goods should have an even stiffer fine.
Meanwhile the problem on the landside in the US continue and ever worsen:
By Augusta Saraiva (Bloomberg) — Public attention has waned two years into the crisis that disrupted global supply chains, giving the impression that everything is back to normal. On the ground,...
Est. reading time: 4 minutes
Maybe someone should tip off Biden about this idea:
Is the Macron, Saadé bromance on the rocks? Sensational, multi-billion euro record profits for CMA CGM are clashing with blanket hausse des prix (cost of living) headlines, with France skirting close to recession amid rampant inflation. Yesterday...
Estimated reading time: 2 minutes
No, not to ask foreign container shipping companies to help out, but there are some cash rich Tech and Pharma Billionaires in the US that may be willing to spit in a small percentage of their fortune for the common good(??)
PS> Big Oil are already on his radar IFAIK.
Singapore to the rescue:
By Ann Koh and Kyunghee Park (Bloomberg) As the world’s economies struggle to untangle unprecedented congestion in global supply chains, one of the world’s busiest ports is backing an ambitious...
Est. reading time: 6 minutes
How that will help improve the situation in LA/LB is not clear.
Will feast turn to famine in container shipping faster than anybody thought?:
There’s growing evidence that the days are coming to an end of the booming consumer demand, which saw container shipping hit record high levels of profitability over the last couple of years. Drewry’s latest global port throughput index for April...
Estimated reading time: 5 minutes
Hopefully they will be able to pay for all the new ships they have ordered:
The incredibly skewed global orderbook continues to throw up all manner of records, with long-term ramifications for the main shipping segments. Ordering in the bulker and tanker sectors, which together account for 75% of world fleet dwt capacity,...
Estimated reading time: 1 minute
The shortage of containers turned to surplus:
The global pool of shipping containers increased by 13% to almost 50m teu in 2021, which was three times prior growth trend. This reflected lessors and ocean carriers ordering a record number of containers, while retiring fewer ageing units, as...
Estimated reading time: 2 minutes
Move over Megaships, here comes more direct services;
It will probably not stop misdeclaration of hazardous goods in containers, but it may stop some from attempting to do so:
The US Federal Maritime Commission (FMC) is seeking public comments on its proposed plan for gathering import and export information from vessel-operating common carriers that is required under the Ocean Shipping Reform Act of 2022 (OSRA). The law...
Estimated reading time: 1 minute
The agency proposes to collect the required information monthly from common carriers that transport 1,500 or more TEUs per month (laden and/or empty) in or out of US ports in international common carriage.
Wouldn’t it be easier to ask US container terminal operators to supply this information??
After a meeting last week at the Port of New York and New Jersey, US Federal Maritime Commission (FMC) chairman Daniel Maffei said: “When ocean carriers continue to bring thousands of containers per month to a port and only pick up a fraction of that...
Estimated reading time: 3 minutes
The real reason for the supply chain disruption and container congestion:
Maersk has their own solution:
ombugge
August 11, 2022, 11:08am
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Everybody blame everybody else and nothing useful gets done;
A group of truck drivers, most of them owner-operators, spent the day yesterday protesting at the Port of Baltimore and they plan to be on site again on today. Their complaint is that they routinely wait for hours to pick up containers and that Ports...
Estimated reading time: 2 minutes
The good times are all over for the container shipping lines (maybe):
The demand-led spikes seen during the pandemic that propelled container shipping to record earnings are now a thing of the past, according to new analysis from Copenhagen-based Sea-Intelligence. Sea-Intelligence has run the numbers on supply and...
Estimated reading time: 2 minutes
Now, if the problems at ports and inland transport get fixed shipping can get back to oblivion in the public eye.