The ocean carrier alliance will skip the Oct. 11 voyage on its North Pacific 3 (NP3) service between Asia and the Pacific Northwest in response to “expected low demand in October,” member OOCL said in a statement.
The U.S. Department of Agriculture said the nation's agricultural trade surplus is also expected to increase to $19.5 billion, up 40 percent from $13.9 billion in fiscal year 2016.
The Houston, Texas-based third-party logistics provider moved into a new 34,000-square-foot warehouse and office complex adjacent to the London Heathrow Airport in an effort to enhance its UK market presence.
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Ocean carrier Hyundai Merchant Marine joining the 2M Alliance - comprised of Maersk Line and MSC - has fueled speculation about Maersk’s ultimate motives, but the short term impact is a larger share on the transpacific trade, especially from Korea.
About 450,000 TEUs of capacity is expected to be scrapped in 2016, which would be double the amount scrapped in 2015, according to the London-based shipping consultant Drewry.
Price, port coverage and transit times are traditionally the primary determinants in choosing a container carrier or service loop, but with vessels stopping at fewer ports and sailing slower than ever before, it's fair to wonder if this is still the case.