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New truck charging depot to open at Port of Long Beach in 2024

Forum Mobility will operate a new truck charging depot in Long Beach, which is scheduled to be ready between September and November 2024. Construction works...

Red Sea crisis still leaves alliances short of ships, as newbuildings fully absorbed

The three container shipping alliances are still short of 36 ships, or 10% of the required tonnage, to entirely fulfill their 25 Asia –...

Hapag-Lloyd reports significant decline in Q1 financial results

German container shipping company Hapag-Lloyd concluded the first quarter of 2024 with revenues of US$4.6 billion and a Group EBITDA of US$942 million. Additionally, Hapag-Lloyd...

HMM reports strong first quarter financial results

South Korea's major ocean carrier HMM achieved increased revenue and profits in the first quarter of the year. In particular, the company reported US$1.7 billion...

ICTSI to build US$800 million, 2 million TEU container terminal

Global port and terminal operator International Container Terminal Services Inc. (ICTSI) is building a new international container terminal in Bauan, Batangas, Philippines. The new terminal...

Asian ports hit by Red Sea backlogs

The Red Sea crisis is challenging Asian ports as congestion with “echoes of the pandemic” is seen in Asia and the Middle East with...

Yang Ming reports Q1 financial results

Yang Ming reported first-quarter revenues of US$1.39 billion and net profit after tax of US$298.42 million with an EPS of NT$2.69. Yang Ming said that...

Box lines start Asia-Mexico services as rates hit 20-month high

Mainline operators have been starting services connecting China with Mexico as freight rates have reached a near two-year high. Freight rates for containers from Chinese...

Workers at Canada’s two largest railways vote to strike

The Teamsters Canada Rail Conference (TCRC), a union representing more than 9,000 employees at Canadian National Railway Co. (CN) and Canadian Pacific Kansas City...

Improved vessel delays may release more capacity: Sea-Intelligence

In March, the fleet absorption from vessel delays was 5.7% of the global fleet, translating to an improvement from the recent peak of 7.5%...

MSC ship enters Baltimore to evacuate containers

One of MSC's ships has become the first vessel to call at Baltimore Port’s Seagirt Container Terminal since the Francis Scott Key Bridge collapsed...

Shift in box lines’ strategy to owned tonnage

Liner operators have been increasing the proportion of owned to chartered ships in their fleet as the Covid-19 pandemic made them cash-rich amid rising...

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ONE launches new intra-Asia service

Singapore-based container line Ocean Network Express (ONE) has announced the launch of a new service, China-Vietnam-Thailand (CVT). The service, which will commence on 27 May,...

Red Sea crisis and port congestion drive blank sailing surge

Box lines are tradionally using blank sailings to manage supply in relation to demand, but during the pandemic, shipping lines were forced to blank...

Maersk tonnage shortage revitalises 2M alliance

Maersk and MSC have renewed their 2M relationship before it ended as the carriers began to operate joint services again following the initial unravelling...

Dali to be moved after bridge wreckage blown up

Dali, the container ship that has been stranded under the wreckage of the collapsed Francis Scott Key Bridge in Baltimore port, could be relocated...

Market panic triggers sharp rate surge

According to the latest analysis of the shipping consultancy Linerlytica, the market panic over tightening vessel space availability has sent the Shanghai Containerized Freight...