The freight transportation analyst said its Shippers Conditions Index is at its highest sustained level since 2011, but conditions for shippers should reverse in 2017, as fuel prices increase and regulatory drag tightens capacity.
The United Kingdom's vote to leave the European Union last week could have implications for the Transatlantic Trade and Investment Partnership between the U.S. and EU, as well as the Trans-Pacific Partnership, according to experts at the Stimson Center.
The struggling South Korean shipping line plans to return 20 containerships and 18 bulk vessels when their charters expire this year and next as the latest step in its cost cutting and restructuring efforts.
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Due to the deterioration of container freight rates and the subsequent drop in carrier financial results, analysts with Drewry Maritime Equity Research foresee a possible combination of Korean and Japanese carriers.
The Suez Canal Authority has begun granting a 65 percent discount on tolls for all containerships sailing from East Coast North America ports south of Norfolk to Asian ports and 45 percent reduction from Port of Norfolk and north.
Rampant overcapacity and the resulting price war between carriers in the container shipping market has caused substantial further reductions in contract rates for exporters and importers buying under contract.