Ocean Carriers

Service adjustments, evolving alliances, and fluctuating import volumes highlight the key challenges and opportunities shippers face in the year ahead.

World-class service in the midst of unprecedented disruption

Amid negative reports, ocean carrier executives see return to normalization.

The most severe U.S. bridge collision since the Tampa Skyway Bridge disaster in 1980 happened at 1:30 a.m. Tuesday near Baltimore where a 32,000-ton cargo ship Dali rammed a bridge over the Patapsco River in Baltimore, causing it to collapse. The collapse of the 47-year-old, 1.6-mile Francis Scott Key Bridge has brought ship traffic at the Port of Baltimore, an important East Coast trade hub, to a halt. The port said maritime traffic is suspended “until further notice.”

After posting another record year of profits, worldwide recessionary and inflationary pressures are now chipping away at ocean carrier fortunes. As far as rates are concerned, our analysts suggest that shippers and freight forwarders will be able to do a little window shopping this year.

Ocean freight carrier service stars on the high seas.

The Ocean Shipping Reform Act (OSRA) took another step on its course to being signed into law, with the United States Senate late last week unanimously voted to sign off on it on a voice vote. The bill will head back to the House of Representatives, with the expectation it will head to President Biden’s desk to be signed into law, following conferencing between the House and Senate on differences that need to be hammered out between the chambers.

Industry experts maintain that ocean carriers may have finally figured out how to make money this year, as sluggish demand last summer made sustainable pricing more important than ever. Shippers now can’t afford to miss vital bookings this peak season, thereby committing to contracts early.

World-class service in spite of historic challenges.

Global shippers disappointed in the ocean cargo fleet performance

Forecasted disrupters such as Brexit and the U.S.-China trade war are putting more pressure than ever on ocean cargo carriers. Add in the complexity of IMO 2020 and an early start to the Lunar New Year and the complexity multiplies.

The ocean cargo industry has been characterized of late as being plagued by cultural dysfunction, keeping it mired in a sea of debt and service constraints. Our maritime experts reflect on how systemic change may lead to recovery.

Learn about the 36th Annual Quest for Quality Award winners for Truckload (TL) Carriers

The Ocean Alliance, a collective ocean carrier concern comprised of COSCO Shipping, CMA CGM, Evergreen Marine, and Orient Overseas Container Line Limited (OOCL) introduced a new offering this week, entitled the Ocean Alliance Day 3 Product.

October volumes at the Port of Los Angeles (POLA) and the Port of Long Beach (POLB) saw strong growth, according to data respectively issued by each port this week.