Category Archives for Industry News

No way Taiwan lines will merge, Yang Ming chairman says Yang Ming Chairman Bronson Hsieh has scotched rumors that his carrier and Evergreen Line would consider merging as a wave of consolidation sweeps through the industry. The speculation surrounding the Taiwan lines was sparked by Japan’s… No way Taiwan lines will merge, Yang Ming chairman […]

NYK Line parent’s credit rating downgraded despite merger plan The credit ratings agency Moody’s has downgraded the rating for Nippon Yusen Kabushiki Kaisha, parent of NYK Line, saying that the decision to merge… NYK Line parent’s credit rating downgraded despite merger plan Journal of Commerce

Hanjin ship to call Long Beach for empty box pick-up The backlog of empty Hanjin Shipping-leased containers in Southern California that has built up since the carrier declared… Hanjin ship to call Long Beach for empty box pick-up Journal of Commerce

Air France-KLM Cargo awash in red ink Air France-KLM Cargo’s third-quarter operating loss soared by almost a fifth from a year ago as it scrambled to downsize its unprofitable freighter operations against a backdrop of tumbling margins. The Franco-Dutch… Air France-KLM Cargo awash in red ink Journal of Commerce

Ocean Alliance unveils network for 2017 The Ocean Alliance released its long-awaited network… Ocean Alliance unveils network for 2017 Journal of Commerce

Container shipping overcapacity forecast to worsen The growth in container shipping demand will trail the rise in container volume in coming years, leading the overcapacity in the shipping industry to significantly worsen — and perhaps double — by the end of 2020, according… Container shipping overcapacity forecast to worsen Journal of Commerce

Lufthansa Cargo stuck in the red as air cargo shows signs of recovery Lufthansa Cargo on Wednesday posted its sixth consecutive quarterly loss, but Europe’s largest air cargo carrier sounded a cautiously optimistic note for the final three months of the year. That optimism… Lufthansa Cargo stuck in the red as air cargo shows signs […]

Japanese shipping merger to create new major liner Decades of fierce rivalry between the three main Japanese ocean carriers ended with the agreement to merge their container operations that will propel the new entity into the league of the… Japanese shipping merger to create new major liner Journal of Commerce

ILWU, PMA talk potential contract extension Negotiators for the International Longshore and Warehouse Union and the Pacific Maritime Association on Tuesday opened two days of talks on a possible extension of their coastwide contract. That sends a message to beneficial cargo owners across… ILWU, PMA talk potential contract extension Journal of Commerce

Attempt to freeze money owed to Hanin rejected NEWARK, New Jersey — The judge hearing Hanjin Shipping bankruptcy motions in the United States has rejected a request by retailer Ashley Furniture to set up an “administrative freeze” on freight payments it owed to the carrier.  Judge John K. Sherwood, sitting in US District Bankruptcy Court […]