By Mike Wackett (The Loadstar) - A perfect storm of radical capacity cuts by carriers and US president Donald Trump’s threat to hike tariffs on Chinese goods could see many more containerships laid-up, according to Alphaliner. Yesterday, The Loadstar reported shipping association BIMCO’s warning that over a quarter of container trade on the transpacific could be at risk … [Read more...]
Port of Long Beach Cargo Volume Dips in August
Container volumes at the Port of Long Beach fell 1.9 percent in August compared to 2017 figures amid the backdrop of uncertainty surrounding the U.S.-China trade war. The Port of Long Beach, the second largest container port in the United States behind neighboring Los Angeles, reported last week a total of 679,543 twenty-foot equivalent units (TEUs) were moved through the … [Read more...]
TT Club Says Still More Needs to Be Done to Ensure Container Safety
By Alexander Whiteman (The Loadstar) As the IMO’s sub-committee on Carriage of Cargoes and Containers meets in London this week, TT Club is demanding urgent action on container safety. The major problem is mis-declared dangerous goods, it says, and suggests it leads to a major container fire every 60 days on average. Risk management director Peregrine Storrs-Fox said: … [Read more...]
CMA CGM Takes Delivery of France’s Biggest Ship, the 20,600 TEU ‘Antoine De Saint Exupery ‘
French shipping group CMA CGM inaugurated its new flagship vessel CMA CGM Antoine De Saint Exupery this week in Le Havre, France. At 400-meters long by 59-meter wide, the vessel has the capacity to carry 20,600 twenty-foot containers, making it the largest to sail under the French flag. CMA CGM took delivery of the CMA CGM Antoine De Saint Exupery in January from Hanjin … [Read more...]
CMA CGM Sees Better H2 Margin After Oil Hit in H1
PARIS, Sept 7 (Reuters) - CMA CGM, one of the world's largest container shipping lines, said on Friday it expects its operating margin to improve in the second half of the year after higher oil prices squeezed profits in the first half. "We are confident for the second half of the year. We anticipate an improved operating margin thanks to the rise in freight rates and … [Read more...]