International shipping industry news? You’ll find it in Global Trade. Check out trade articles about ocean carriers and port destinations.
Ocean carriers have become the standard for connecting trading partners from different geographies, especially when large volumes of freight must be sent over significant distances. Freight costs on carriers are among the lowest available, making these remarkable ocean liners the preferred choice for shipments that are not adversely impacted by a longer transportation time – anywhere from 10 to 30 days. However, maintaining these lower costs has been a challenge in an asset-heavy, highly competitive industry that requires considerable financial investment – not just in the ships themselves, but in fuel and carriers as well. This may be one reason why many major carriers have expanded their services to also incorporate freight consolidation, warehousing, and truck and rail service, so shipments can literally now be made door-to-door rather than port-to-port.
Hanjin Bankruptcy Took Its Toll
Slowed by industry headwinds and challenges that included a major customer declaring bankruptcy, the Port of Long Beach still moved almost 6.8 million containers in 2016, its fifth best year ever. Overall cargo declined 5.8 percent in 2016 compared to 2015, as the port was impacted by new ocean carrier alliances and the August bankruptcy… Read More
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