Registration takes less than 1 minute.
Data from BlueWater Reporting shows the termination of the NHX service between Asia and East Coast of South America will decrease weekly deployed capacity between the two regions by 10.2 percent.
Meanwhile, lane outages in the existing locks for maintenance could reduce available capacity for vessel traffic by up to 50 percent through the end of the month, according to maritime support services provider Gulf Agency Co.
Chinese leader Xi Jinping, whose agenda in the U.S. includes commercial issues, Wednesday met with CEOs from Boeing, Apple and Cisco in Seattle on his way to visit President Obama in Washington, D.C. on Friday.
The Israeli ocean carrier recently returned to the black, posting adjusted net profits of $23 million in the second quarter of 2015 compared with a net loss of $50 million the previous year.
With more tonnage to be delivered next year, London-based shipping consultant Drewry says "the overhang of excess capacity [in the ocean freight industry] will be even greater than that experienced in 2009."
Capacity growth was relatively stagnant across the three major east-west trades in the third quarter of 2015, as slowing global trade and an economic recession in China caused volumes to remain weak even during the summer peak shipping season.