The number of container ships afloat has decreased in the first half of 2014 and could fall on an annual basis this year, for the first time in at least 20 years. Although the total TEU nominal capacity of the global fleet continues to increase by about 6 percent a year, this growth in capacity now comes solely from the increase in average ship size, not from having more ships.
Declining in value by 3.3 percent from 2012, the freight forwarding market is facing major challenges as it fights to stay viable in a changing global environment. This is one of the main conclusions of the latest report from Transport Intelligence, Global Freight Forwarding 2014.
Drewry's 2Q14 Container Forecaster highlights that there is a widening gap between the positive financials of the few carriers really focused on cutting costs and the rest of the top 20 lines, as they battle with the pressure of falling freight rates.
Global shipping lines are increasingly shying away from handling cargoes to Iran as restrictions on banking and insurance continue unabated, despite an interim agreement between Tehran and the West that called for limited sanctions relief.
A humble metal box measuring just 20 feet or 40 feet by 8 feet, the shipping container has changed the world. It helped usher in globalization, deliver bananas that taste fresh despite being picked weeks before, and provide the ability for companies to have a truly international supply chain. Yet Maersk Line was late in adopting its use. A new book, tracking the history of the Danish shipping line, explains why.
Drewry Shipping Consultants Ltd. and the World Container Index have launched a series of demonstrations to educate the ocean-shipping community and share best practices in the use of Index-Linked Container Contracts (ILCCs).