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Breakbulk Quarterly Intelligence
Platts Containers Update
Aug. 15 GRIs not enough to lift Asia-Europe spot rates
Greg Knowler, Senior Editor Europe |
The peak season and planned rate increases are having no discernible effect on Asia-Europe spot rates.
Container lines
Busier cranes unable to lift profit at APM Terminals
Turloch Mooney, Senior Editor, Global Ports |
Volumes were up, but profit was well down at APM Terminals in the second quarter.
Marine terminals
Maritime
Weak rates drag Maersk Line to second-quarter loss
Greg Knowler, Senior Editor Europe |
All-time low rates dragged Maersk Line to a worse-than-expected loss.
Container lines
Los Angeles, Oakland import volumes bode well for peak season
Bill Mongelluzzo, Senior Editor, Trans-Pacific |
July imports in Los Angeles and Oakland bode well for peak season.
North American ports
Itapoa confident in keeping fastest-growing Brazilian port title
Rob Ward, Brazil Special Correspondent |
Porto Itapoa is on pace to be the fastest-growing port in Brazil for the second year in a row.
International ports
Customs change endangering St. Petersburg port suspended
Eugene Gerden, Special Correspondent |
A customs change that would have forced shippers to divert cargo away from the port of St. Petersburg has been suspended.
International ports
Transport, Trade and Regulation News
ILWU raises hopes for US West Coast contract extension
Bill Mongelluzzo, Senior Editor, Trans-Pacific |
The International Longshore and Warehouse Union Thursday gave a huge boost to beneficial cargo owners looking for long-term labor stability.
Longshore labor
Qatar's Hamad mega-port on track for year-end opening
Turloch Mooney, Senior Editor, Global Ports |
The first phase of Qatar’s $7.4 billion Hamad Port is on track to be fully operational by the end of the year.
International ports
New deal lengthens Roadrunner’s LTL reach in Canada
William B. Cassidy, Senior Editor, Trucking |
Canadian partner gives $2 billion U.S. trucking company more roads to run.
LTL
Shippers feel little strain from merger of top Chinese liners
JOC Staff |
Although mergers typically lead to disruption and irate shippers, that has not been the case in the recent merger of Cosco and China Shipping Container Lines.
Container lines
Global trade slump drags on earnings of Indian state railway
India Special Correspondent |
State-owned Container Corporation of India’s net earnings slumped by double digits in the first fiscal quarter.
International rail
Restructuring, Asia-Europe weakness hit HHLA earnings
Bruce Barnard, Special Correspondent |
HHLA’s operating profit slumped by almost one-fifth in the first half of the year.
Marine terminals
Expedited trucker V3 speeds its own growth
William B. Cassidy, Senior Editor, Trucking |
Supply chain disruptions are no longer the exception, they’re the rule, increasing demand for expedited transport.
Trucking News
LTL
No escape from weak market for Maersk Line on eve of interim results
Greg Knowler, Senior Editor Europe |
Analysts do not expect Maersk Line to come out of the second quarter in the black.
Container lines
Chinese anti-Zika prevention efforts worry US exporters
Hugh R. Morley, Senior Editor |
Efforts by Chinese authorities seeking to prevent the spread of Zika have sparked concerns among U.S. exporters.
Container lines
Intra-Asia liners team-up on China-Vietnam service
JOC Staff |
Three intra-Asia container liners are teaming up to link China and Vietnam through two different loops.
Container lines
South Korean financial watchdog: No bailout awaiting Hanjin
Xiaolin Zeng, Special Correspondent |
The head of South Korea's financial watchdog on Wednesday said Hanjin Shipping should prepare for receivership, if it can’t reach an agreement with creditors and tonnage providers.
Container lines
Cosco acquires control of Greek port of Piraeus
Bruce Barnard, Special Correspondent |
The Chinese conglomerate will pay an additional 88 million euros for the extra 16 percent stake in Greece’s largest port.
International ports
ILA: Resolution of current issues must precede contract talks
Joseph Bonney, Senior Editor |
The International Longshoremen’s Association won't discuss a contract extension until disputes over the current contract are resolved.
Longshore labor
Chennai woes weigh on India public port growth
India Special Correspondent |
Traffic at major, or public, Indian ports rose in the first four months of the fiscal year, but growth could have been higher.
International ports
Forecast sees nearly flat global container port traffic in 2016
Bruce Barnard, Special Correspondent |
Global container traffic will likely grow at the second-slowest rate since 2009.
Port News
North American ports
Seko adds Hong Kong warehouse capacity to meet e-commerce demand
Turloch Mooney, Senior Editor, Global Ports |
Surging e-commerce demand and spending in Asia has logistics companies looking to the future.
Industrial Real Estate News
Hapag-Lloyd falls to loss on slumping freight rates
Bruce Barnard, Special Correspondent |
Hapag-Lloyd sank to a net loss in the second quarter as average ocean freight rates plummeted.
Container lines
Capacity cuts seen driving high ship utilization, not peak demand
Greg Knowler, Senior Editor Europe |
Capacity discipline has pushed up vessel utilization rates.
Container lines
Maersk drops feeder services to 10 Chinese ports
Greg Knowler, Senior Editor Europe |
Maersk line has adjusted its third-party feeder network in China.
Container lines
Acquisition shows small truckers have room to grow
William B. Cassidy, Senior Editor, Trucking |
In its first acquisition in 78 years, Kottke Trucking expanded its business 60 percent, gaining drivers, freight, scale and density.
Truckload
ILWU caucus to determine future of West Coast labor peace
Bill Mongelluzzo, Senior Editor, Trans-Pacific |
A historic International Longshore and Warehouse Union caucus that could solidify the role of the West Coast as the preferred and natural gateway for U.S. trade with Asia will convene Wednesday in San Francisco.
Longshore labor
Yilport aims to make Ecuador container terminal largest in Latin America
Reynolds Hutchins, Associate Editor |
A Turkish port operator is determined to transform an Ecuadorian port into the largest container terminal in Latin America.
Marine terminals
$255 million private equity infusion fuels LTL-based 3PL
William B. Cassidy, Senior Editor, Trucking |
Fast-growing BlueGrace Logistics should grow faster with support from private equity firm Warburg Pincus.
LTL
Former CSCL exec to lead AP China integration into CMA CGM
Angela Yu, Special Correspondent |
Zhao Hongzhou, a former general manager at China Shipping Container Lines, has been tapped to lead the integration of of APL’s greater China operations into CMA CGM.
Container lines
‘Black box’ recorder recovered from sunken El Faro
Joseph Bonney, Senior Editor |
The recovery of the voyage data recorder could provide investigators with clues to the sinking that left 33 dead.
Container lines
APL Logistics acquisition still weighs on Kintetsu profit
Hisane Masaki, Japan Special Correspondent |
Last year’s acquisition of APL Logistics continued to dent profit at Kintetsu World Express Inc.
Logistics Technology News
ICTSI profit dives despite double-digit volume growth
Turloch Mooney, Senior Editor, Global Ports |
Manila-based global container terminal operator International Container Terminal Services saw year-over-year net profit drop despite throughput expanding healthily.
Marine terminals
Fesco profit plunges as ocean, rail traffic slumps
Bruce Barnard, Special Correspondent |
Fesco’s first-half profit more than halved.
Container lines
Agility revenue down on lower freight rates, but profit rises
Bruce Barnard, Special Correspondent |
Agility, the leading Arab Gulf logistics group, increased second-quarter earnings, but revenue declined.
Logistics Technology News
Breakbulk News
Pushback against new LA-LB chassis fee intensifies as FMC inquires
Bill Mongelluzzo, Senior Editor, Trans-Pacific |
Pushback against terminal operators' proposed chassis gate fee in Los Angeles-Long Beach intensifies.
Marine terminals
Container lines
Asia-Europe peak season holds little promise for container lines
Greg Knowler, Senior Editor Europe |
Drewry Maritime Equity Research said it is forecasting a “washout” peak season on Asia-Europe.
Container lines
Adani Group earnings, volume rise as capacity expansion continues
India Special Correspondent |
India’s biggest private port infrastructure developer continues to build on its recent growth.
Marine terminals
Breakbulk News
Mega-ship dredging at leading Indian port moves forward
India Special Correspondent |
India’s busiest container handler this week launched phase two of a dredging project to handle mega-ships.
International ports
Port infrastructure
NFI expands US trucking reach amid sluggish industry demand
Hugh R. Morley, Senior Editor |
Connecticut trucking company will enable fast-growing supply chain provider to expand amid sluggish growth elsewhere in the trucking industry.
Truckload
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