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Freight Containers

COA Appoint Panocean V-P to Board

The Container Owners Association (COA) appoints O. I. Kwon, Senior V-P, Container Business Management Division, STX Panocean, to its Board. The Container Owners Association (COA) was established in November 2004 as an international organisation representing the common interests of all owners of freight containers, worldwide. It has over 165 Members, including container shipping lines, leasing companies, intermodal operators and suppliers of a wide range of container equipment and services. Mr Kwon joins six other Directors, who represent some of the world’s largest container owners, on the Board of the Container Owners Association. "“It is a great honour – both for me personally, and for my company STX Panocean - to join the COA Board,”" Mr Kwon said. “"This position carries considerable responsibility and I will do my best to promote the COA in Asia and to support the wide range of initiatives that the COA is working on." The COA Board comprises senior representatives from some of the world’s largest container shipping lines and leasing companies, including: Maersk Line, CMA-CGM, United Arab Shipping Company, STX Panocean, Seaco Global, Triton Container and Florens Container Services.   Its newly appointed Chairman is Michael Callus, Vice-President, Container Management, at UASC.


Crowley Adds Vastly to its Fleet Cargo-Handling Equipment

New Shipping Containers: Photo credit Crowley

Crowley Maritime Corporation’s liner services group is adding more than 3,000 pieces of cargo handling equipment to its diverse fleet. The additional resources will allow the company to better meet increasing customer demand throughout Puerto Rico, the Caribbean and Latin America service areas. The equipment  includes 200 53-foot (102-inch wide) dry containers, 200 45-foot (102-inch wide) dry containers, 500 20-foot dry containers, 1,000 40-foot dry high-cube containers


BWTS in a Box Fits in Cargo Hold

BWTS Box Technology: Image credit MHI

New ClassNK-approved container-type Ballast Water Treatment System (BWTS) installation technology. Mitsubishi Heavy Industries, Ltd. (MHI), working jointly with Mitsui O.S.K. Lines, Ltd. (MOL), has developed installation technology of a ballast water treatment system (BWTS) enclosed in a standard-size freight container for installation in the hold of container ships. The new technology will significantly reduce BWTS retrofitting turnaround time in comparison to engine-room BWTS installation


Calais Crisis Presents Liability Issues, TT Club Warns

As the political and humanitarian situation in Calais continues to unfold, the specialist freight transport insurer, TT Club provides a perspective on the implications for the freight and haulage industry and steps which operators can take to avoid heavy penalties from being caught carrying illegal immigrants. While focused on the current situation in Calais, the precautionary measures recommended are generally relevant.  


ITCO Promotes Safe, Green Tank Containers

The International Tank Container Organisation (ITCO) will unveil a new tranche of industry knowledge on intermodal tank containers in three specialist presentations to be made at the Transport Logistic 2009 event in Munich on 12-15 May 2009. Two of the papers highlight recent studies which bring together a wide range of established knowledge to explain why tank containers are the safest, most reliable and efficient means of transporting bulk liquids, powders and gases


Following the Path of the Transport Revolution

Photo credit: Captain Katharine Sweeney

TT Club, established to fill a gap in insurance as the freight container revolutionized trade, celebrates 45 years dedicated service to the transport and logistics sector. In 1956, the first strengthened containers were loaded onto a spar deck of the converted tanker, Ideal X. This marked the fulfilment of a dream for American trucker Malcom McLean who had, since 1937, been working on how to reduce the long waiting hours for dockers to stow or unload his vehicles onto or off ships


First Electronic Container Freight Swap Settled in USD

Saxo Bank and ICAP Shipping Involved in World's First Electronic Container Freight Swap Settled in USD.   Saxo Bank, the trading and investment specialist, and ICAP Shipping, the shipping arm of ICAP plc, announced on Thursday that they were involved in the execution of the world's first electronic, voice-assisted trade of a container freight swap agreement settled in US dollars. The counterparties to the trade were Saxo Bank in Denmark as the buyer and a Netherlands-based trading house


China Joins UN Trucking Treaty

China has taken a major step towards establishing a speedy new "Silk Road" to Europe by signing up to a U.N. trucking treaty.   Fifteen years after joining the World Trade Organization (WTO), China is hoping a revival of its ancient trading corridor to the west will help boost its slowing economy.   Becoming a member of TIR, an international guarantee scheme that will enable Chinese freight containers to travel all the way to Ireland without being opened up for


Index-Linked Container Contracts Take-Off

Half of all index-linked contracts filed with the US Federal Maritime Commission reference Drewry’s Container Freight Rate Insight pricing benchmarks.   Drewry Maritime Research’s container freight rate benchmarks are the index of choice in index-linked container contracts, according to the US Federal Maritime Commission (FMC). The agency also indicated that uptake of index-linked container contracts on US trades was fast growing


Asia to Northern Europe Shipping Rates Jump 177%

Photo by Maersk Line

 Asia to Northern Europe shipping freight rates for transporting containers jumped by 177.3 percent to $1.109 per 20-foot container (TEU) in the week ended on Friday, reports Reuters, quoting data from the Shanghai Shipping Exchange.   As all major container shipping lines implemented a price hike announced earlier, the  freight rates rose nearly three-fold.   Freight rates on the world’s busiest shipping route have tanked this year due to overcapacity in


Antwerp Port Container Freight Up by 2.5%

Photo: Port of Antwerp

 The port of Antwerp handled 111,385,518 tonnes of freight during the first six months of this year, 2.8% more than in the same period last year.    Container freight once more performed well after a number of exceptional years, with an increase of 2.5% in terms of tonnage and 1


ICTSI Subic on Growth Path

Photo:  ICTSI

 International Container Terminal Services, Inc.’s (ICTSI) new Container Freight Station (CFS) at the Subic Bay Freeport is at the forefront of ensuring the faster movement of goods in the Northern and Central Luzon markets.   


COSCO Records H1 Profit on Improving Market

File Image (CREDIT: AdobeStock / (c) Marina Ignatova)

COSCO Shipping Holdings expects to post a profit of around 1.85 billion yuan ($272 million) in the first half, helped by an improving shipping market.   The world's fourth-largest container shipping line made the forecast in a stock market statement on Thursday. It recorded a loss of 7


Oil Spilled After U.S. Train Derailment

File Image: A typical Crude Oil train in the United states makes its way south along inalnd waterways. CREDIT: Dagmar Etkin

Canadian National Railway Co said about 20,000 gallons of oil was released following a freight train derailment at Plainfield, the U.S. state of Illinois on Friday, according to a filing with state pollution regulators.   The cause of the derailment was unknown


Public-Private Project Promises to Revive America’s Marine Highway

APH engineer incorporates patent-pending aspects allowing the LNG powered self-propelled self-docking vessels to travel without a wake. The radical technology being incorporated in the vessel design allows the loaded vessels to operate at a draught of less than 10 feet.

Plaquemines and American Patriot Holdings plan new container port-vessel system.   Plans are underway for a new 4,200-acre intermodal container terminal within the Port of Plaquemines Harbor and Terminal District. The project, a partnership (Exclusivity Agreement) between the Port and


Fitch: Boxship Rates Rise, Capacity Still Key

File Image: CREDIT UASC

Fitch Ratings' Report: What Investors Want to Know: Container Shipping.   Container shipping companies have benefited from a modest increase in freight rates since the start of the year, but a sustainable recovery in the container market will only be achieved by reaching a viable


NYC Jobs Plan Aims to Bolster Freight Network

©Mihai Andritoiu / Adobe Stock

New York City Mayor Bill de Blasio today unveiled a series of initiatives aiming to spur 100,000 high-paying jobs over the coming decade across a number of sectors, including the City's maritime and intermodal freight and logistics industries.  


Baltic Exchange Mulls New Freight Indexes for Grains, LNG

© sarymsakov / Adobe Stock

The Baltic Exchange is looking into launching freight indexes for grains and liquefied natural gas (LNG) as the London-run business targets new markets after its acquisition by Singapore Exchange last year, the Baltic's chief executive said.  


Tsuneishi Says Built 45 Ships Last Year

Photo: Tsuneishi Holdings Corporation

 Japan's Tsuneishi Holdings Corporation said that its  shipbuilding business output was nearly flat with the construction of 45 ships in the fiscal year ending December 2016.   However, ship orders declined markedly due to the impact of last-minute orders before environmental


U.S. Freight Recovery Spurs Diesel Demand

File Image: CREDIT AEP

U.S. freight movements have started increasing again, which should help boost consumption of distillate fuel oil in 2017 and 2018.   The tonnage of freight moved by road, rail, barge, pipeline and air cargo has been increasing year on year since October


CMA CGM Posts Higher Q1 Profits

Photo courtesy of CMA GCM

Container shipping line CMA CGM posted higher first-quarter profits, helped by a turnaround at recently acquired NOL, and gave an upbeat assessment for the current quarter in another sign that the shipping industry is emerging from a slump.  


Container Shipping Demand Remains Good: Hapag-Lloyd

Photo: Hapag-Lloyd

 In the medium term, demand for container shipping services should continue to rise in tandem with expected ongoing growth in global trading volume, says Hapag-Lloyd.   As a result, the container shipping industry’s medium-term growth prospects remain intact


Hapag-Lloyd Projects Higher FY '17 Earnings

File Image: CREDIT (port of Boston)

CEO sees closer supply-demand balance in shipping market; higher earnings forecasts upheld after wider net loss.   German container shipping firm Hapag-Lloyd on Friday said it should achieve higher earnings this year, based on expectations for a moderate increase in freight rates and cost


Maersk: Shipping Recovery Coming

File Image: Credit Maersk

Maersk Line posts loss, but company sees improvement.   A.P. Moller-Maersk beat first-quarter net profit forecasts on Thursday, boosted by the energy business it plans to spin off, but also reported signs of improvement at its long-suffering container shipping business.  


Japan's Big 3 Shipping Lines Eyes Profits

Photo: Kawasaki Kisen Kaisha

Japan's top three  shippers -Nippon Yusen KK (NYK), Mitsui OSK Lines and Kawasaki Kisen Kaisha - appear on course for net profit in fiscal 2017, buoyed by better market conditions and restructuring efforts, Reuters reported.  The brighter outlook comes amid a gradual recovery in prices






 
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