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Saturday, May 18, 2024

Containers Breakbulk News

14 May 2024

Final Rule on Demurrage & Detention Cleared to Take Full Effect May 28

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The final rule on Demurrage and Detention Billing Practices is clear to take full effect on May 28, 2024, following recent actions by the Office of the Management and Budget (OMB) and the Federal Maritime Commission (FMC).The FMC issued its final rule on Detention and Demurrage Billing Practices on February 23, 2024, and gave notice of the May effective date except for the “Contents of Invoice” section 541.6. That provision of the rule contains an information collection under the Paperwork Reduction Act and required OMB review and approval.

08 May 2024

Conflict Heating Up Over Cosco's Megaport in Peru

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The Chinese state-owned company at the center of a dispute over operations of a megaport it is building on Peru's Pacific coast insisted on Tuesday on terms agreed with the government, as some local officials have sought to backtrack on the deal.Hong Kong-based Cosco Shipping Ports will defend its legal rights to provide services as the exclusive operator of the deepwater Chancay Port Terminal under "terms that were agreed at the beginning of this investment," the firm said in…

02 May 2024

Maritime Trafficking: How Balkan Gangsters Became Europe's Top Cocaine Suppliers

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In 2018, convicted cocaine trafficker Slobodan Kostovski fled a Brazilian prison and made his way back to Europe with a fake passport.The Serbian senior quickly fell into old habits, police allege. Last August, Kostovski was arrested in Belgrade, accused of shipping 2.7 metric tonnes of cocaine from Brazil aboard a 22-meter vessel apprehended near Spain’s Canary Islands.Nicknamed “the General” by his associates, he had been trafficking “large amounts” of powder to “Europe for a long period of time,” Serbian police wrote in a 2022 intelligence report obtained exclusively by Reuters.

17 Apr 2024

Baltimore's Alternate Shipping Channels Not Deep Enough, Maersk Says

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The Baltimore port's alternate shipping channels are not deep enough to accommodate the oceangoing container vessels that Maersk and other carriers use, the Danish shipping group said in a statement on Wednesday.A container vessel chartered by Maersk collided with a major bridge in the U.S. port of Baltimore's harbor last month, causing the structure to collapse.

27 Mar 2024

Baltimore Bridge Port Blockade Won't Trigger New Supply Chain Crisis, Experts Say

Satellite image ©2024 Maxar Technologies.

The catastrophic bridge collapse that closed the Port of Baltimore to ship traffic is unlikely to trigger a major new U.S. supply chain crisis or spike goods prices, due to ample and growing spare capacity at competing East Coast ports, economists and logistics experts say.With six people still missing after a container ship collision destroyed the Francis Scott Key Bridge, it remained unclear how long the span's twisted superstructure would block the harbor's mouth.But port officials…

26 Mar 2024

Bridge Collapse Freezes Ship Traffic in Port of Baltimore

(Photo: David Adams / U.S. Army Corps of Engineers)

Ships sailing to the U.S. port of Baltimore dropped anchor in waters nearby while vessels were stranded inside the port after traffic was halted following a bridge collapse, shipping data showed on Tuesday.A 948-foot container ship smashed into a four-lane bridge in the port in darkness early on Tuesday, causing it to collapse and sending cars and people plunging into the river below.Port traffic was suspended until further notice, Maryland transportation authorities said.At least 13 vessels that were expected to load coal were anchored near to Baltimore port…

26 Mar 2024

Baltimore Bridge Collapse Could Disrupt Supply Chain -Xeneta

Collapsed Key Bridge in Baltimore (Credit: Screeshot/StreamTime Live)

The containership allision that caused the collapse of the Francis Scott Key Bridge in Baltimore could cause "significant disruption" to shipping supply chains, according to industry analyst Xeneta.The 10,000 TEU Singapore-flagged Dali was operating on a 2M alliance service between Baltimore and the Far East when it struck the bridge around 1:35 a.m. on Tuesday, sending cars and people plunging into the river below."The immediate focus is the rescue operation, but there will clearly…

06 Mar 2024

US Container Shippers Slow Walk New Contracts, Eye Easing of Red Sea Rate Hikes

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U.S. importers are playing the waiting game with new container shipping contracts, gambling the rate spike from Red Sea vessel attacks will fade and put them in a stronger negotiating position, shipping industry analysts said.Iran-aligned Houthi missile and drone attacks on commercial ships in the Red Sea have forced most container carriers to reroute vessels around Africa and sent spot rates soaring.That price shock is a "gift" that carriers will be giving back when the assaults stop…

01 Mar 2024

Rotterdam World Gateway to Provide Shore Power at All Berths

Left to right: Boudewijn Siemons, Port of Rotterdam Authority; Robert Simons, Municipality of Rotterdam; and Ronald Lugthart, RWG (Photo: Port of Rotterdam Authority)

Rotterdam World Gateway (RWG) container terminal will equip its entire quayside with shore-based power for all vessels, slashing emissions of particulates, nitrogen and CO2 while at berth.RWG, which is already fully automated and CO2 neutral, is opting to design, finance and build the shore-based power systems itself.The first berths are expected to be equipped with shore-based power from 2026 onward, placing RWG ahead of European regulation stipulating that all container, passenger and cruise ships larger than 5…

29 Feb 2024

CMA CGM Caps Logistics Push with $5 Billion Bollore Deal

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France's CMA CGM has completed a $5 billion takeover of Bollore Logistics, its biggest-ever acquisition, and said it had funds for more deals as it seeks to counter volatility in container shipping.The acquisition of the logistics division of French conglomerate Bollore, announced last year, closed on Thursday at a final price of 4.85 billion euros ($5.25 billion) after debt and cash adjustments.The deal will extend the reach of CMA CGM's CEVA Logistics unit into areas such as freight management for pharmaceutical, cosmetics and luxury firms.CMA CGM, based in Marseille and privately controlled

27 Feb 2024

CMA CGM, COSCO, Evergreen and OOCL Extend OCEAN Alliance to 2032

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French shipping company CMA CGM and its business partners COSCO Shipping 601919.SS, Evergreen 2603.TW and OOCL said on Tuesday that they had agreed to extend their 'OCEAN Alliance' co-operation deal for another five years beyond 2027, to 2032.The 'OCEAN Alliance' partnership aims to help customers deal with their supply chains by offering up fast transit times and access to a wide range of ports, said CMA CGM.The agreement to extend the partnership was signed in Shanghai on Tuesday."The decision to extend our co-operation for at least five more years forges our commitment to meet our customers

23 Feb 2024

EU Clears CMA CGM's Acquisition of Bollore Logistics, Subject to Conditions

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The EU Commission on Friday said it had cleared the acquisition of the logistics operations of conglomerate Bollore by shipping group CMA CGM, subject to a number of conditions proposed by the companies.The commission, which oversees competition policy in the 27-nation European Union, said that the acquisition had been approved after its investigation found a number of concerns.To address them, the parties agreed to divest all of Bolloré Logistics' activities in Guadeloupe, Martinique, Saint Martin and French Guiana, as well as a number of assets in metropolitan France linked to these activiti

13 Feb 2024

Port of Antwerp Disrupted by Belgian Farmers' Protests

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Operations at the port of Antwerp, one of Europe's biggest container ports, were seriously impacted on Tuesday as hundreds of farmers on tractors blocked the roads around the port to demand better pay and working conditions, officials said.The protest follows a large number of similar actions by angry farmers in France, Belgium, the Netherlands and beyond, as farmers also demand looser environmental rules and better protection against cheap imports."Operations are heavily disrupted," Stephan Van Fraechem, the director of the association of port companies Alfaport VOKA, told Reuters.

12 Feb 2024

US Import Volumes Seen Rising Despite Red Sea Disruptions

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Inbound cargo volume at the United States’ major container ports is expected to see year-over-year increases through the first half of the year despite attacks on ships in the Red Sea, according to the Global Port Tracker report released by the National Retail Federation and Hackett Associates.“Only about 12% of U.S.-bound cargo comes through the Suez Canal but the situation in the Red Sea is bringing volatility and uncertainty that are being felt around the globe,” NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said. “U.S.

01 Feb 2024

Westwood Shipping Lines Rebrands as Swire Shipping

(Photo; Swire Shipping)

Swire Shipping announced that Westwood Shipping Lines, a niche vessel operator it acquired in June 2022, has changed its name to Swire Shipping.According to Sire, the rebrand—which took effect February 1—will help Westwood to leverage synergies and capabilities in containers, networks, and projects across the global Swire Shipping network to better serve customers throughout North America, Japan, South Korea and China.“The integration of Westwood Shipping Lines reflects our continued investment and expansion in the North Pacific.

29 Jan 2024

Maersk Names Charles van der Steene President for North America

Charles van der Steene (Photo: Maersk)

A.P. Moller - Maersk (Maersk) announced it has appointed Charles van der Steene as the new Regional President for North America, effective February 1, 2024. With the move, van der Steene will join the company’s Executive Leadership Team.A logistics industry veteran, van der Steene joined Maersk in 2011 with deep global experience in commercial leadership, operations and general management. He previously led Maersk’s commercial organization in North America and most recently headed up Maersk’s Global Commercial Excellence and Transformation organization.Narin Phol…

26 Jan 2024

Congressmen Urge FMC to Finalize OSRA Provisions

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Two U.S. Congressmen are urging the Federal Maritime Commission (FMC) to finalize the rule on demurrage and detention billing requirements required in their Ocean Shipping Reform Act that became law in 2022.The Ocean Shipping Reform Act was signed into law on June 16, 2022 and provides authority to the FMC to investigate ocean carriers’ business practices and apply enforcement measures following the unreasonable refusal of American exports throughout the COVID-19 pandemic.In January 2023, U.S.

22 Jan 2024

Red Sea Shipping Attacks Pressure China's Exporters

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For Chinese businessman Han Changming, disruptions to Red Sea freight are threatening the survival of his trading company in the eastern province of Fujian.Han, who exports Chinese-made cars to Africa and imports off-road vehicles from Europe, told Reuters the cost of shipping a container to Europe had surged to roughly $7,000 from $3,000 in December, when Yemen's Iran-aligned Houthi movement escalated attacks on shipping."The disruptions have wiped out our already thin profits…

12 Jan 2024

Container Rates Soar on Concerns of Prolonged Red Sea Disruption

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Container shipping rates for key global routes have soared this week, with U.S. and UK air strikes on Yemen stirring concerns of a prolonged disruption to global trade in Red Sea, one of the world's busiest routes, industry officials said on Friday.U.S. and British warplanes, ships and submarines launched dozens of strikes across Yemen overnight in retaliation against Iran-backed Houthi forces for attacks on Red Sea shipping, widening regional conflict stemming from Israel's war…

12 Jan 2024

APM Terminals to Develop Container Terminal at Plaquemines Port

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Plaquemines Port Harbor and Terminal District announced it signed a letter of intent (LOI) with APM Terminals (APMT) to build a container terminal on the West Bank of Plaquemines Parish, La.Plaquemines Port will lease the land to APM under a 30-year agreement with extension options. APMT, one of the largest terminal operators in the world and is a subsidiary of shipping giant A.P. Moller-Maersk, estimates the initial investment in terminal infrastructure will be approximately $500 million…

09 Jan 2024

Israel Working to Clarify COSCO's Position on Shipping to Israel

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Israel's Transport Ministry on Tuesday said it was seeking to clarify Chinese shipper COSCO's reported decision to halt shipping to Israel.Israeli media this week reported that COSCO had suspended shipping to Israel.

09 Jan 2024

US Trade Deficit Shrinks on Falling Imports

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The U.S. trade deficit unexpectedly narrowed in November as imports of consumer goods fell to a one-year low amid slowing domestic demand, a trend that, if it persists in December, could result in trade having no impact on economic growth in the fourth quarter.The report from the Commerce Department on Tuesday also showed exports declined in November amid cooling demand overseas. Demand is slowing both in the United States and abroad following hefty interest rate increases by global central banks since 2022 to tackle rampant inflation.The Federal Reserve's rate hiking cycle has likely ended…

03 Jan 2024

Ocean Cargo Rates Climb After New Red Sea Ship Attacks

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Ocean freight rates are surging after a missile attack and attempted hijacking of a Maersk ship this weekend prompted carriers to suspend plans to restart transits through the Red Sea, a key artery to the vital Suez Canal trade route.Yemen-based Houthi militants have been attacking high-value cargo vessels in the Red Sea since November in a show of support for Palestinian Islamist group Hamas fighting Israel in Gaza. It has forced ships to reroute around the southern tip of Africa…