Monthly Archives for May 2023

Market headwinds push CMA CGM Q1 revenue, profit sharply lower CMA CGM’s Rodolphe Saadé said inflation and destocking in global markets heralded a “phase of normalization” for container shipping. Market headwinds push CMA CGM Q1 revenue, profit sharply lower Journal of Commerce

CBP rules US chassis manufacturer evaded tariffs on China-sourced parts The ruling could place an additional burden on US chassis manufacturers to ensure their subcontractors are using US materials or paying duties on parts from China. CBP rules US chassis manufacturer evaded tariffs on China-sourced parts Journal of Commerce

Shippers bemoan lack of progress in ocean visibility despite heavy investment End-to-end supply chain visibility remains an elusive goal for providers in a market where shippers are expecting better data quality than they have seen. Shippers bemoan lack of progress in ocean visibility despite heavy investment Journal of Commerce

Hydrogen-driven barge debuts on Europe’s inland network The drive to decarbonize European inland transport by switching freight from the road to greener alternatives took a step forward this week. Hydrogen-driven barge debuts on Europe’s inland network Journal of Commerce

‘Super’ slow steaming makes a comeback as surplus capacity builds Ocean carriers are pulling all available capacity management levers to address a supply-demand imbalance that is set to widen significantly through 2024. ‘Super’ slow steaming makes a comeback as surplus capacity builds Journal of Commerce

Shipping icon Bertram Rickmers, 71, succumbs to injuries from fall Visionary shipping legend Bertram Rickmers created the Pearl String, the only round-the-world breakbulk liner service, which operated from 2003 until the fall of Zeamarine in 2020. Shipping icon Bertram Rickmers, 71, succumbs to injuries from fall Journal of Commerce

Shippers hold onto intermodal boxes amid warehouse reshuffling: survey As shippers scramble to shed unwanted inventory, more than 80% responding to a Journal of Commerce survey reported that they’ve kept 53-foot domestic containers for too long, incurring detention fees. Shippers hold onto intermodal boxes amid warehouse reshuffling: survey Journal of Commerce

Carriers pare blank sailings in May as ocean freight rates steady With spot freight rates largely stabilized, ocean carriers have blanked fewer sailings in May and instead opted for more bi-weekly sailings. Carriers pare blank sailings in May as ocean freight rates steady Journal of Commerce

Ocean trade emerges from pandemic haze to face new realities Although the container shipping order book is the highest it’s been in many years and demand remains subdued, the ground is shifting under the ocean market in new and unfamiliar ways, writes Peter Tirschwell. Ocean trade emerges from pandemic haze to face new realities Journal […]

Forwarders locked in margin-destroying price war in post-COVID ocean market Price is once again on the side of shippers, with excess ocean capacity allowing them to extract lower rates from service providers. Forwarders locked in margin-destroying price war in post-COVID ocean market Journal of Commerce