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Container Ships

All articles tagged with #container ships

businessshipping2 years ago

Red Sea Troubles: Impact on Global Shipping and Economy

Attacks by Yemen-based Houthis in the Red Sea have led to a spike in freight rates as shipping companies divert routes, potentially ending the global shipping recession. The disruptions could add billions to the bottom line of vessel-operating common carriers (VOCCs) like Maersk, Evergreen, and COSCO. While the higher rates may boost profitability, the industry still faces challenges such as oversupply of containers and soft shipping demand. The duration of the disruptions and involvement of multinational navies will determine the extent of the impact on freight rates.

via CNBC|
#businessshipping#container-ships#freight-rates
technology2 years ago

Maersk Partners with SpaceX's Starlink for Global Internet Coverage on 330+ Ships

Danish logistics giant Maersk is partnering with SpaceX to install Starlink internet service on over 330 container ships by early next year. The satellite network will provide high-speed connectivity, enabling seagoing colleagues to stay connected with their loved ones and facilitating the digitalization of vessel operations. Starlink, with over 5,000 satellites launched, has expanded into various markets and disrupted the satellite communications sector. Maersk's decision to expand the partnership with SpaceX follows a successful pilot phase with positive feedback from crew members.

via CNBC|
#container-ships#internet-service#maersk
logistics2 years ago

Labor deal reached, ending West Coast port chaos.

The Pacific Maritime Association and the International Longshore and Warehouse Union have reached a tentative agreement on a new six-year contract, averting potential disruptions to the supply chain during peak season. The deal comes after months of negotiations and work disruptions affecting ship schedules and container dwell times. The agreement is subject to ratification by both parties, and no details have been released. The Port of Los Angeles is currently operating at about 70% of capacity, with volumes to the West Coast rising in line with pre-pandemic patterns.

via FreightWaves|
#container-ships#labor-deal#logistics
business2 years ago

Labor disputes cause chaos and delays at West Coast ports.

Labor talks between the International Longshore & Warehouse Union and Pacific Maritime Association have yet to reach a resolution, causing delays for container ships at West Coast ports. The lack of port productivity is impacting the movement of vessels in and out of dock, with truckers reporting that it takes three hours to get in and out of the port. The White House is monitoring the situation closely, and industry groups are urging the Biden administration to intervene. The sluggish pace of trade is hanging over labor discussions, and West Coast ports have lost share of trade to East Coast ports due to concerns among shippers about the labor situation.

via CNBC|
#business#container-ships#delays