Given the persistent downward pressure on demand, it remains to be seen if India-US carriers will be able to push through a new round of modest rate hikes planned for December.
The intra-Asian region is expected to be a hotbed of mergers and acquisitions in container shipping because that is where the growth in container demand is centered, writes analyst Lars Jensen.
European regulators have never had enough information to effectively monitor the container shipping industry since the consortia block exemption rule was introduced in 2009, according to Olaf Merk.
Despite initially failing to meet capacity commitments, the carrier extended the contract for three months at the original rate, saving the shipper $180,000.
An auction of Yellow’s 174 owned terminals is scheduled for Tuesday, with winning bids to be disclosed on Friday while a separate battle continues over 149 leased terminals.
The carrier is looking to expand beyond its two current services jointly offered with other liners with a standalone service meant to take advantage of the growing shift in sourcing from India.
The project, in coordination with the Vancouver Fraser Port Authority, is due to be completed in late 2024 and will help move cargo faster through Western Canada.
But rising air cargo rates on the major Asian export trade lanes do not portend a peak season this year with analysts pointing to poor economic conditions exerting strong downward pressure on consumers in the US and Europe.
On its own, the growth in container volumes on Asia to Europe trade lanes in the third quarter was impressive, but it compares with the steep slowdown in imports last year by overstocked retailers.
The carrier’s largest alternative fuel deal to date will be enough to drive half the methanol-powered ships on its orderbook.
With peak season at hand for ag exports, shippers say weak US import volumes have constrained the supply of repositioned containers they need to send goods overseas, risking disruption to their supply chains.
The Norfolk expansion plans from resin logistics specialist Katoen Natie come as more plastics production is going onstream in the Northeast US.
The soonest the Panama Canal Authority says it could see significant relief is 2028, raising the possibility of persistent drought restrictions and reduced container capacity and transits until then, writes Journal of Commerce Executive Editor Mark Szakonyi.
The CO2 charge on commercial vehicles is aimed at incentivizing the use of green fuels and lower-emissions trucks, but it will come at a significant cost to the road haulage industry.
Despite some pockets of progress, exactly how container shipping achieves decarbonization will likely remain an unanswered question until new zero-emission fuel standards are adopted, writes Peter Tirschwell.