The growing supply of container industry capacity due to construction of larger ships is not only causing a decline in freight rates, but another shortage: a o lackf crew.
By 2019 the industry will need 42,500 additional officers to handle the expected growth of 7% projected over the next five years, says the Manning Section of the forecaster, Drewry.
The current supply is around 615,000 officers and there is a nominal shortage of about 15,000, [...]
The Danish shipping company Maersk Line announced the signing of a contract worth $1,100 million with Hyundai Heavy Industries (HHI) for building nine vessels with a capacity of 14,000 TEUs each.
This is the third purchase of an investment program of $15,000 million announced by Maersk Line in 2014, which includes new container vessels, and retrofitting, among other work.
“I am very pleased with this new order, where we decided to adopt a new approach. [...]
“The actors should prepare themselves”
Juan C. Croston.
Warning that other countries are prepared to dispute the leadership of Panama as a regional cargo transshipment and logistics hub, the Vice President of Marketing at Manzanillo International Terminal (MIT), Juan Carlos Croston, said he was “quite positive” about the long term potential that will open to Panama when the expanded canal starts operating in the second quarter of 2016.
Among the ports that are ready to [...]
The first cargo ships have successfully navigated the new Suez Canal in a test that began at the end of July amid heavy security. The work, vital for regional and global trade, will be officially opened during August. The construction of the new waterway, which runs alongside most of the existing canal, began less than a year ago.
The 72-kilometer route allows two-way navigation of larger ships. Numerous container ships sailed through as part of [...]
Russian Prime Minister Dmitry Medvedev approved a development plan for a new route across the Arctic.
“We have approved (June 8) the development project of the Northern Sea Route. As is well known, this is the shortest route between Europe and the Far East, the Asia-Pacific region and the west coast of the US,” he announced to the press.
Medvedev acknowledged that the Arctic route is underused and that the annual volume of freight is [...]
Two new shipping services will begin using the Panama Canal route which will bring in about $60 million in annual revenues.
These services will each generate between $25 million to $30 million according to calculations made by the administrator of the Panama Canal, Jorge Quijano.
“A new route will be coming from Asia to the West Coast of the United States, and we have a new service from Hamburg Sud going to the Caribbean from [...]