Consolidation in the container shipping segment via alliances or mergers is likely to accelerate due to persistent overcapacity and freight rates pressure, Fitch Ratings says.
Companies operating in Indonesia may spend as much as $160bn to move goods, materials and merchandise to and from Southeast Asia's largest economy this year, according to Frost & Sullivan, an industry tracker.
An alliance of the world's top three container shipping firms which could control more than a third of the market is likely to start operating in mid-2014, No.1 player Maersk Line said after the tie-up was approved by U.S. regulators.
Why do U.S.-owned private maritime security teams continually get in trouble on ships overseas? Does the U.S. adhere to a lower standard than the rest of the world when it comes to private maritime security? The answers may surprise you.
It looks as though we're in for a year of continued economic recovery and job growth, however gradual. That should be good news for ocean carriers - assuming they don't undermine their own success by flooding the market with capacity, then engaging in rampant discounting to fill it.
I'd like to propose a symbol for those huge new vessel-sharing alliances that will dominate the global container trades this year and beyond: a great big question mark.
National Shipping of America (NSA) is partnering with Rickmers-Linie (America) to provide additional global connections to Puerto Rico shippers, and expand breakbulk services to the island.