COSCO may make a bid of more than $4 billion for Hong Kong-based Orient Overseas Container Line, according to various media reports.
The deployment of ultra-large containerships has not only increased average vessel size on key east west trades, but has accelerated the consolidation of carriers into vessel sharing agreements and alliances.
The container freight market is strengthening as carriers begin some 2017 negotiations, and Drewry said some shippers could see contract rates rise 20-40 percent in worst case scenarios.
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Global trade in 2016 was sluggish, as import volumes and global container throughput dipped, but the negligible dip in global trade was accompanied by radical shifts in freight pricing.
The 4,250-TEU APL Denver collided with the 2,495-TEU Wan Hai 301 late last night near Pasir Gudang Port in Johor, Malaysia, causing fuel to spill from one of the ship’s bunker tanks, according to Maritime and Port Authority of Singapore.
Danish shipping company Maersk Line and Chinese e-commerce marketplace Alibaba teamed up to provide sellers direct bookings with the container line, marking another development in the rapidly changing ocean freight procurement space.