Ocean carriers
FMC to Ocean Carriers: Post-Baltimore Bridge Late Fees Must be ‘Reasonable’
The agency warned carriers not to capitalize on cargo diverted from Baltimore's port after the collapse of…
Container Cleanup at Baltimore Bridge Crash Site Begins After Biden Visit
The Army Corps of Engineers wants to restore normal port access by May 31—a timeline Baltimore mayor Brandon…
Maersk to Phase Out Panama Canal ‘Land Bridge’ in May
Meanwhile, chief rival MSC faces a possible $63.3 million fine from the FMC for alleged violations of the…
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Container Shippers Lost Nearly $700 Million in Q4 2023
Global ocean carriers have seen six straight declines in earnings following a $63.1 billion windfall in the…
Ocean Carrier Giants Invoke ‘Force Majeure’ Following Baltimore Bridge Collapse
The clause passes the buck from carriers to shippers, who must pay the storage and transportation costs once…
Maersk Won’t Return to Red Sea Just Yet as Risks Remain ‘Elevated’
The ocean carrier said sailing around Africa's Cape of Good Hope is currently "the most reasonable solution"…
Biden Admin Expands Supply Chain Data-Sharing to Track Inland Ports
The FLOW initiative includes retailers like Walmart, Target, Nike, Ikea and Gap Inc., as well as UPS, FedEx…
CMA CGM Makes ‘Case-by-Case’ Red Sea Return, Maersk Says to Seek Alternatives
In a Tuesday update, Maersk's North American president Charles van der Steene said "No one knows for how long…
Ocean Alliance ‘In a Very Strong Position’ After Extending Vessel-Sharing Commitment
Ocean carriers CMA CGM, Evergreen, Cosco and OOCL might have a leg up on their competitors as they outpace…
Bed Bath & Beyond in Yet Another Legal Battle With Ocean Carrier
The retailer's bankruptcy estate filed a $4.3 million complaint with the FMC against Evergreen for failing to…
Maersk CEO: Overcapacity at Sea Will Squeeze Profit Margins
The ocean carrier's stock fell 15 percent amid forecasted 2024 profits between $1 billion and $6 billion—down…
Maersk, Hapag-Lloyd Stress Reliability Upon Forming New Shipping Alliance
The ocean carriers expect 90 percent schedule reliability rates once the network is established—30 percentage…
All Eyes on the Suez Canal as Container Shipping Giants Halt Passage Through Red Sea
Rerouting vessels around Africa could add 10 days to a ship's route—and 15 percent to shipping costs—said S&P…
Bed Bath & Beyond Files $316 Million Lawsuit Against MSC
The world's largest container shipping firm said it is studying the "meritless" claims in the bankrupt…
Container Demand Rebound Could be 18 Months Away
According to Container XChange, 43 percent of shippers and carriers expect low-profit freight rates to…