Ocean Carriers

The period from mid-2020 to the fourth quarter of 2022 was a high-water mark for the container shipping industry, and with it came unprecedented turmoil, disruption, and prosperity, and that period was, above all, a period of extremes: extreme rate rises, extreme container and labor shortages, extreme delays, extreme congestion, and extreme chaos for exporters and importers alike, this time it's different.

After posting another record year of profits, worldwide recessionary and inflationary pressures are now chipping away at ocean carrier fortunes. As far as rates are concerned, our analysts suggest that shippers and freight forwarders will be able to do a little window shopping this year.

Ocean freight carrier service stars on the high seas.

The Ocean Shipping Reform Act (OSRA) took another step on its course to being signed into law, with the United States Senate late last week unanimously voted to sign off on it on a voice vote. The bill will head back to the House of Representatives, with the expectation it will head to President Biden’s desk to be signed into law, following conferencing between the House and Senate on differences that need to be hammered out between the chambers.

Industry experts maintain that ocean carriers may have finally figured out how to make money this year, as sluggish demand last summer made sustainable pricing more important than ever. Shippers now can’t afford to miss vital bookings this peak season, thereby committing to contracts early.

World-class service in spite of historic challenges.

Global shippers disappointed in the ocean cargo fleet performance

Forecasted disrupters such as Brexit and the U.S.-China trade war are putting more pressure than ever on ocean cargo carriers. Add in the complexity of IMO 2020 and an early start to the Lunar New Year and the complexity multiplies.

The ocean cargo industry has been characterized of late as being plagued by cultural dysfunction, keeping it mired in a sea of debt and service constraints. Our maritime experts reflect on how systemic change may lead to recovery.

Learn about the 36th Annual Quest for Quality Award winners for Truckload (TL) Carriers

The Ocean Alliance, a collective ocean carrier concern comprised of COSCO Shipping, CMA CGM, Evergreen Marine, and Orient Overseas Container Line Limited (OOCL) introduced a new offering this week, entitled the Ocean Alliance Day 3 Product.

October volumes at the Port of Los Angeles (POLA) and the Port of Long Beach (POLB) saw strong growth, according to data respectively issued by each port this week.

The continued rise in fuel prices and chartering rates had a negative impact on the earnings of the top tier carriers for most of 2018. But as new alliances mature, industry experts are forecasting a modest improvement by next year.

In a move to ostensibly address environmental concerns, leading ocean cargo carriers have announced that they will impose new surcharges on the first of the year. Leading international shipper’s associations are not buying the explanation, however.

Learn about the 35th Annual Quest for Quality Award winners for Ocean Cargo carriers.