Fitch Ratings has affirmed the Port of Oakland’s outstanding senior bonds at A+ and outstanding Intermediate Lien and underlying bank bonds at A. The rating outlook assigned by Fitch on all bonds is Stable. “These ratings reflect continued commitment to prudent financial management and stability,” commented Port of Oakland executive director Danny Wan. According to […]

© HHM / Hasenpusch productions Port of Hamburg has reported lower cargo figures for the first nine months of the year, compared with the same period in 2021. In particular, the German port handled 6.3 million TEUs from January to September 2022, which represents a year-on-year decline of 2.7%. Both imports and exports of the […]

Reduced consumer demand and a shift of imported goods to the Gulf and East Coast of the United States have led to a decline in container volumes of the Port of Long Beach (POLB). The major box port in California handled 658,428 TEUs in October, translating to a 16.6% decrease from the same month in […]

Wan Hai Lines Ltd. held ship naming ceremonies for Wan Hai 355, Wan Hai 357 and Wan Hai 360, accompanied by a charity donation at Japan Marine United Corporation Kure Shipyard, on 7 November. The three container vessels are part of the series of 3,013 TEU ships built by Japan Marine United Corporation Kure Shipyard. […]

Yang Ming reported US$3.41 billion in revenues in the third quarter of the year with the company’s profits after taxes reaching US$1.7 billion for the same period. Additionally, in the first nine months of the year, Taiwan’s container carrier achieved US$10.79 billion in revenues and US$5.66 billion in profits after taxes. Yang Ming said its […]

The Israeli shipping company ZIM has announced the opening of a fully-owned agency in New Zealand, replacing the current third-party agent. The new ZIM New Zealand office will commence operations on 1 November and will be led by David Mitchell, the current country manager, who will join the ZIM team. ZIM said the purpose of […]

It has been a norm for the Global Container Spot Rate Indices to have weekly falls in rates, one after the other, ever since February 2022. Indices have lost as much as 70% or more, over a year and staved off over 80% of the pandemic gains, thanks to easing supply chain congestions and lesser […]

The Brazilian Association of Port Terminals (ABTP) has filled a legal request at the Administrative Economic Defense Council (CADE) of Brazil to investigate the impact of the two largest container lines in the world, MSC and Maersk, on the country’s port market. ABTP accuses the two container shipping giants of abusing their domination in the […]

A.P. Moller – Maersk announced the inaugural flight of Maersk Air Cargo´s new air freight service with scheduled flights between Greenville-Spartanburg, South Carolina (GSP) and Incheon, Korea (ICN). The scheduled transpacific operation will commence on 31 October with two weekly flights introducing the first of three newly built Boeing 767-300 freighters that have recently been […]

APM Terminals Mobile handled 56,545 TEUs the last month, making September the largest throughput month since the Maersk-owned port operating company began operations in Alabama, US in 2008. With 421,232 TEUs, moved year-to-date, 2022 volumes are now 14% higher than 2021 volumes in APM Terminals Mobile. In addition to record-breaking container numbers, intermodal rail moves […]