Monthly Archives :

May 2019

Maersk Swings to Loss, Warns Trade Tensions Hitting Shipping Demand

Maersk Swings to Loss, Warns Trade Tensions Hitting Shipping Demand 60 60 La Chang

Danish shipping giant A.P. Moeller-Maersk AS swung to a first-quarter loss and warned that rising trade tensions between the U.S. and China could cut container growth by up to a third this year.

Maersk’s warning adds to an increasingly bleak outlook for the container shipping industry, which now expects the tariff-filled trans-Pacific dispute to be a significant drag on earnings. Demand for shipping consumer goods, manufacturing parts and other anchors of global trade is waning at the start of the season when retailers typically stock up for the year-end holidays.

Digital Freight Brokers Turn Physical With Truck Equipment Pools

Digital Freight Brokers Turn Physical With Truck Equipment Pools 0 0 La Chang

Digital freight marketplaces that connect shippers and truckers online are turning toward more physical operations by offering the equipment that cargo carriers need to move loads.

Freight-matching startups Convoy and Uber Technologies Freight division recently launched fleets of trailers that shippers can preload with goods to speed up cargo transfers for drivers and shippers on their networks.

It’s a notable shift for a sector best known for using apps, algorithms and machine learning to match shippers and truckers.

Shipowners Seek to Slow Services to Meet Emissions Limits

Shipowners Seek to Slow Services to Meet Emissions Limits 60 60 La Chang

Looming new environmental regulations are triggering sharp divisions in the shipping industry between vessel operators investing billions of dollars to reduce emissions and others who want to stave off the financial impact by simply slowing down ships.

More than 100 shipowners, including some big Greek and German charter businesses, have signed a letter to the International Maritime Organization, an arm of the United Nations that works as the global marine regulator, calling for slower sailing speeds to cut greenhouse gas emissions.

If adopted, the measure could ripple across international supply chains, with products taking more time to be delivered and cargo owners paying more for transport costs because of the longer sailings.

Macquarie Gets a Foothold in U.S.-Asia Ocean Trade

Macquarie Gets a Foothold in U.S.-Asia Ocean Trade 0 0 La Chang

The Australian investment group’s purchase of a multiyear concession to run the Long Beach Container Terminal in Southern California comes with a guarantee from the seller, Hong Kong-based shipping and ports operator Orient Overseas International Ltd. , that the facility will generate $9 billion in revenue over 20 years.

Macquarie paid $1.78 billion to run LBCT until 2051 under a sale that was triggered by U.S. national security concerns. The site is a major gateway for trans-Pacific container trade crucial to retailers and manufacturers. This place will give Macquarie a kind of bookend for its North American maritime infrastructure portfolio, alongside the Maher Terminals LLC operation at the Port of New York and New Jersey that the group bought in 2016.