Posts Tagged: Shipping Industry

Earlier this month, an ultra-large containership belonging to shipping giant Maersk suffered what is being described as a ‘serious fire’ in one of its cargo holds while en-route from Singapore towards Suez, Egypt. Of the 27 seafarers aboard the Maersk Honam, three have died and one is missing as of this publication date. This recent fire… Read More

The international shipping organization BIMCO, based in Copenhagen, sees 2018 as the year container shipping growth and demand growth strike a balance, according to an article in American Shipper. “BIMCO forecasts demand to grow by 4.0-4.5 percent against a fleet growth of 3.9 percent in 2018,” stated Peter Sand, chief shipping analyst for BIMCO. Sand… Read More

Improving freight conditions and freight rates in 2017 is expected to lead to a rebound in carrier profitability in 2018 as well as a jump in new big rig orders by trucking companies, according to ACT Research, publisher of commercial vehicle (CV) industry data, market analysis and forecasting services for the North American market.  Trucking… Read More

Four industry organizations representing different sectors of the supply chain industry in a recent session at the Intermodal Europe Conference in Amsterdam put the spotlight on the need for container owners and operators to provide appropriate equipment for properly packing and shipping cargo, as set by the Cargo Transport Units (CTU) Code. The Global Shippers… Read More

Two years ago this past October 1, in the face of Hurricane Joaquin’s 150-mph winds, 40-year-old cargo ship El Faro went down, sinking 15,000 feet of water to the sea floor near the Bahamas and killing 33 people on board. The worst maritime disaster for a U.S.-flagged vessel since 1983, the El Faro was one… Read More

Freight costs have spiked in the wake of Hurricane Harvey, which decimated Houston and the surrounding region. As businesses reopen and look to stock their shelves, many shippers are experiencing significantly higher rates. For example, according to online load board DAT Solutions LLC, the cost to hire a tractor-trailer to move freight from Dallas to… Read More

Proper supply management is essential to the success of many large businesses. Part of the supply management process involves taking the time to carefully screen suppliers to meet client demands for on-time deliveries and competitive rates. It also involves, according to a recent article in Global Trade, suppliers offering a streamlined invoice-to-cash process that reduces… Read More

The shipping industry, which has faced several challenges over the last several years, including overcapacity, price wars and freight rates below break-even levels, is now showing signs of recovery, according to a recent article in the Wall Street Journal. Due to an improving global economy, industry executives and analysts indicate that the worse may behind… Read More

The announcement of Hanjin Shipping’s receivership filing on Wednesday caused the shipping industry – from freight brokers to shippers – great concern over the impact of this development on the global supply chain. Hanjin is the largest container shipping company in South Korea and the seventh largest in the world, with daily capacity at 25,000… Read More

Just as we did with the airline industry, we are now seeing new alliances and mergers being formed within the global shipping industry. For shipping carriers there are benefits to partnering up, including the ability to share vessels, networks and ports of call, streamlining their operations and saving millions of dollars. But what does it… Read More