COSCO may make a bid of more than $4 billion for Hong Kong-based Orient Overseas Container Line, according to various media reports.
The deployment of ultra-large containerships has not only increased average vessel size on key east west trades, but has accelerated the consolidation of carriers into vessel sharing agreements and alliances.
The container freight market is strengthening as carriers begin some 2017 negotiations, and Drewry said some shippers could see contract rates rise 20-40 percent in worst case scenarios.
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The Pacific Merchant Shipping Association will start publishing the average container dwell times at 12 marine terminals in the ports of Los Angeles and Long Beach on a monthly basis to help supply chain efficiency efforts.
The ship management software provider analyzed six ports throughout the world to better understand what impact the new verified gross mass amendment of the Safety of Life at Sea convention has had on the shipping industry since it took effect July 1.
Under new rules that took effect last month, freight forwarders managing inbound shipments to Canada must now submit electronic house bills of lading prior to arrival.