Hanjin Shipping has elected to file for court receivership, the first step towards what will be the largest container line bankruptcy in history - six times larger than the collapse of United States Lines three decades ago, the previous record holder.

Following markedly slow growth of just 3.5 percent in 2015 due to decreased rental demand, the global leased container equipment operating fleet is forecast to increase by little more than 1 percent in 2016, according to the latest edition of the Container Leasing Industry Annual Report 2016, published by global shipping consultancy Drewry.

The container shipping industry is undergoing a historic wave of consolidation as carriers seek to tighten supply to offset the historical drop in pricing.

Currently, containers, ships and other intermodal transport assets such as chassis and gensets are mainly what we call "dark, dumb and disconnected." What this means is that we really don't know much about them. They are not self-aware, we can't see them, and they can't tell us about their actions and status.

A wave of cargo cancellations from the U.S. is putting additional pressure on Very Large Gas Carrier rates, according to the latest edition of the LPG Forecaster, published by global shipping consultancy Drewry.

22-23 Nov 2016 | Hong Kong Convention and Exhibition Centre