Special Report: Top 30 Ocean Carriers turn up the volume
Now that pricing has been restored and capacity restrained, the leading vessel operators are staging a comeback. What lessons have they learned from the recent recession and dismal earning cycles? Here’s what the top analysts are saying.
in the NewsState of Logistics 2016: Pursue mutual benefit ATA and Cass data continue to point to signs of confusion for the freight economy AAR reports more declines for week ending October 8 Dairy industry leader builds on mobile racking system success Fast Deliveries to Grow by 40 percent Year-on-Year Until 2025, Says New Study More News
In the school of hard knocks, the tough will survive. Those who prevail, however, are the ones who hit back harder. That’s what shippers should be expecting from the Top 30 ocean carriers this year; and analysts are warning shippers that when it comes to contracting in 2011, the gloves are off.
Shippers saw evidence of this on October 1, when Mediterranean Shipping Co. (MSC) began increasing freight rates on its services between North America and Europe and the Mediterranean. The Geneva-based carrier, the second largest container shipping line, says that the general rate increases are necessary “to preserve the existing comprehensive range of services” and “to advance freight rates towards a sustainable level.”
This blow was delivered just after MSC imposed a peak season surcharge on all shipments from the Far East to the U.S. East and West Coasts. However, MSC was hardly alone in making this move. Maersk Line—the largest carrier of U.S. imports— had warned shippers in mid-summer that it was going to impose a similar surcharge to ensure space in the Asia-U.S. trade lanes.
Check below for related articles.
About the AuthorPatrick Burnson, Executive Editor Patrick Burnson is executive editor for Logistics Management and Supply Chain Management Review magazines and web sites. Patrick is a widely-published writer and editor who has spent most of his career covering international trade, global logistics, and supply chain management. He lives and works in San Francisco, providing readers with a Pacific Rim perspective on industry trends and forecasts. You can reach him directly at [email protected]
Subscribe to Logistics Management Magazine!Subscribe today. It's FREE!
Get timely insider information that you can use to better manage your entire logistics operation.
Start your FREE subscription today!
European Logistics Update: Post-Brexit U.K. moving ahead, but in which direction? Badcock Home Furniture &more: Out with paper, in with Cloud TMS View More From this Issue