Background: Commodity trading has been the epicenter of economic growth for thousands of years, dating back to 4,500 BCE. In the civilization known as Sumer, citizens would use clay tokens sealed in a clay vessel as a medium of exchange for goats. Clay writing tablets indicated the number of clay tokens inside each sealed vessel,
Due to severe pollution, China has proposed a ban on all solid waste imports affecting 8.2 percent, or nearly 1 million TEU, of all US exports, according to an analysis of data from PIERS. China’s rapid economic expansion in the last two decades has occurred at the expense of its environment and public health. In
The use of midsize niche carriers has grown exponentially in the last six months. They have deployed 12.8 percent more capacity so far this year, according to the 321st edition of the SeaIntel Sunday Spotlight by SeaIntel Maritime Analysis. This growth is not attributed to an increase in carrying capacity. Instead, it is due to
CMA CGM will increase its efficacy in the shipping of perishable goods by combining its container shipping service with Seatrade Group. Once the service is approved by authorities, they will transport perishable goods, such as fruits or meat in specialized reefer containers across major areas of the globe. This new coalition is part of CMA
For years carriers have attempted to sanction container no-shows with a fee, but none have stuck. Last minute cancellations have plagued the shipping industry, preventing carriers from accepting bookings from their customers. The lack of a cancellation fee encourages shippers to be disorganized and careless with their shipment dates. In an attempt to change this,
The Panama Canal Authority (ACP) has announced its plans to modify its existing toll structure to further incentivize the full container vessel market segment to utilize the canal in return voyages. The modifications are a result of the fluctuating demand from containership, LPG, and LNG vessels for the Canal as well as the productive capabilities
A global shortage of shipping containers has recently hurt U.S. exporters. The Ocean Shipping Container Availability Report (OSCAR), a weekly record detailing the availability of marine shipping containers at 18 different intermodal locations, illustrates a decline in container volume at major domestic break-in-bulk points, such as Chicago and Kansas City. Although seasonality may partially account
This past Tuesday, June 27th, a global cyber-attack affected organizations around the world, including those within the maritime container shipping industry. The Petya Ransomware attack, which targeted out-of-date Windows devices, crippled A.P. Moller-Maersk’s main business units bringing the operations of the shipping titan, which handles one out of seven globally-shipped containers, to a grinding halt.
A new rule simplifying container line service contracts and non-vessel operating common carrier (NVOCC) service arrangements will go into effect May 5, US maritime regulators announced Thursday. The US Federal Maritime Commission (FMC) voted unanimously on March 6 to scrap a historic rule requiring container lines and NVOCCs to file service contracts with the agency
15 Mar 2017 SOURCE: PortTechnology.org Maersk Line’s acquisition of German liner Hamburg Süd has taken another step forward after the two parties signed a Sale and Purchase Agreement yesterday (March 14, 2017). The sale of Hamburg Süd’s ownership and main business assets, including vessels and containers, to Copenhagen-based Maersk Line is still pending until its been checked for
South Florida District Export Council