Port of NY/NJ sees record container volumes in October 2017

Containerized cargo volumes at the largest port on the U.S. East Coast increased 9.2 percent to 588,848 TEUs for the volumes, according to the port authority. The Port of NY/NJ recorded strong volumes for October 2017.
Source: www.americanshipper.com

The Port of New York and New Jersey handled 588,848 TEUs of containerized cargo in October 2017, an increase of 9.2 percent compared with the same month last year, the port said Monday.

The port handled a total of 334,324 containers during the month, an increase of 8.3 percent compared to the 308,605 containers in October 2016.

So far this year, total container volumes have grown 7.2 percent to 3.2 million units, up from the 2.9 million during the first 10 months of 2016. In addition to setting a new monthly record, October 2017 also ended up as the fifth best month in the port’s history for cargo volume, helping to continue the positive trend seen throughout 2017.

October import loads grew 5.8 percent year-over-year to 305,729 TEUs, while export loads ticked up 1.3 percent to 121,203 TEUs.

Year to date in 2017, export loads increased 3.2 percent to 1.1 million TEUs compared with the same 2016 period, and import loads were up 6.4 percent at 2.8 million TEUs. Export empties jumped 24.9 percent for the month and 14.6 percent through October, while import empties declined 16.3 percent for the month and 18.8 percent for the year so far.

Rail volumes at the port set a record for the most lifts in any month at 51,206 containers in October. It also marks the third time that rail volume is over 50,000 containers, the port said. For the first ten months of the year, rail moves are up 3.8 percent.

Auto volumes were also up 12.4 percent for the month compared to the prior October at 51,135 units, and up 24.4 percent year to date at 515,323 vehicles handled.

ZIM Turns Profit in Q3

The Israeli ocean carrier had a net profit of $25.2 million for the quarter compared to a new loss of $37.6 million for the third quarter of 2016, thanks to increasing freight rates, higher volumes and cost utilization, president and CEO Eli Glickman said.

ZIM handled 688,000 TEUs during the third quarter of 2017, a 10.6 percent boost from the third quarter of 2016.
Source: www.americanshipper.com

ZIM recorded a net profit of $25.2 million for the third quarter of 2017, compared to a net loss of $37.6 million for the third quarter of 2016, the Israeli ocean carrier revealed Thursday.

ZIM’s profit for the quarter was driven by increasing freight rates, higher volumes, and cost utilization, ZIM President and CEO Eli Glickman told American Shipper.

Glickman took the helm as ZIM’s new president and chief executive officer on July 1, 2017, succeeding Rafi Danieli, who had served as president and CEO of ZIM since 2009.

Revenues for the third quarter of 2017 climbed 26.8 percent year-over-year to $816.7 million, with container volumes rising 10.6 percent to 688,000 TEUs. Glickman attributed the volumes boost to the Pacific and intra-Asia lines.

The average freight rate per TEU totaled $1,058 for the quarter, a sharp increase from $887 for the third quarter of 2016.

“ZIM’s encouraging Q3 results are a cause for optimism, and we hope they reflect a momentum that we can keep up in the coming quarters; however, we still face many challenges, including the uncertainty of market conditions, including freight rates and bunker prices,” Glickman said in a press release.

ZIM recently announced the completion of a paperless bills-of-lading pilot based on blockchain technology, which was completed in cooperation with Sparx Logistics and Wave Ltd. “The pioneering pilot, first of its kind led by an ocean carrier, was concluded successfully,” ZIM said.

All participants during the trial – which involved the shipment of containers by Sparx Logistics from China to Canada – issued, transferred and received original electronic documents using the Wave Application.

Looking ahead, Glickman said he believes ZIM is on the right track as it continues to outperform the industry, and that the company is currently in the process of finalizing its 2018 budget.

Officials Approve $42M to Ease Savannah Port Congestion

Image result for savannah port

Source: www.wsav.com

SAVANNAH, Ga. (AP) — On the heels of reporting 32 percent growth in containerized trade for October, an all-time record for Savannah, the Georgia Ports Authority approved rail and gate expansion projects that will significantly increase capacity at GPA’s Garden City Terminal – the single largest container terminal in all of North America.

Georgia port officials will spend $42.27 million to untie road and rail congestion around Savannah’s docks.

The Georgia Ports Authority approved work Monday that is part of a larger $128 million Mega Rail Terminal project.

The board also approved a $13.2 million project to expand the existing Gate 8 at Garden City Terminal.

According to GPA officials, the project will not only expand the Port of Savannah’s on-dock rail capacity by 100 percent, but position Savannah to rapidly increase service to an arc of inland markets from Memphis to Chicago. A total of $90.7 million has been allocated to the project thus far. Construction is slated to begin next month and be completed by the end of 2020.

Also planned are two railroad bridges over a canal.

Ultimately, the $128 million project will combine rail yards operated by CSX Corp. and Norfolk Southern Corp. The new terminal will allow 2-mile (3.25-kilometer) trains to be loaded with double-stacked cargo containers. The railroads will be able to ship 1 million containers yearly from Savannah, up from 500,000 now.

The board also approved additional truck gates feeding a new connector to Interstate 95, which could take traffic off local streets.

Yang Ming Records $42m Profit in Q3 2017

The Taiwanese ocean carrier also unveiled expansion plans in Southeast Asia and the Mediterranean amid an 11.1 percent, percent year-over-year gain in transport volumes to 1.24 million TEUs for the third quarter.

Source: www.americanshipper.com

Yang Ming Marine Transport Corp. recorded a net profit of 1.26 billion New Taiwan Dollars (U.S. $42 million) for the third quarter of 2017.

The Taiwanese ocean carrier’s consolidated revenues for the quarter totaled NTD 35.78 billion, skyrocketing 23.4 percent from last year’s third quarter, as volumes surged 11.1 percent to 1.24 million TEUs, thanks to higher freight rates and healthier supply and demand.

Yang Ming also unveiled on Thursday its plans for expansion in Southeast Asia and the Mediterranean.

With board approval, Yang Ming will work on a joint investment project in Indonesia with the Taiwan International Port Corp. “to develop the shipping and logistics sectors for the benefit of Taiwan-based customers and Taiwanese industries,” Yang Ming explained.

In addition, the board approved the establishment of a Mediterranean regional operating center, allowing Yang Ming to “optimize efficiency and provide customers with an integrated line haul service network in the region,” the carrier said.

During the third quarter of 2016, Yang Ming was a member of the CKYHE Alliance, which also included COSCO, “K” Line, Hanjin and Evergreen Line. However, Hanjin declaring insolvency in its native South Korea at the end of August 2016 had a domino effect on the rest of the alliance members, since they shared space with Hanjin on ships.

Hanjin’s collapse resulted in over $14 billion worth of cargo stranded at sea on 100 ships across the globe, according to Federal Maritime Commissioner William P. Doyle.

At the beginning of this April, Yang Ming began operating as part of the newly formed “THE” Alliance, which also includes Hapag-Lloyd of Germany; and “K” Line, MOL and NYK of Japan.

Plans for establishing THE Alliance were first unveiled back in May 2016, with Hanjin initially planning on being a member before filing for insolvency.

THE Alliance currently operates with 239 vessels averaging 8,764 TEUs with a total combined deployed capacity of 2.09 million TEUs across 31 services, according to ocean carrier schedule and capacity database BlueWater Reporting’s Capacity Report.

In order to prevent another Hanjin incident, THE Alliance established a $50 million contingency fund that could be used if any member carrier goes through an insolvency or financial distress.

PIL’s new 11,800-TEU vessels boost capacity on transpacific loop

Image result for pil vesselPacific International Lines’ (PIL) two new 11,800-TEU vessels, the Kota Pahlawan and the Kota Panjang, are replacing the carrier’s 8,351-TEU Navarino and 8,241-TEU YM Uniform on its AC5 service between Asia and the U.S.
Source: www.americanshipper.com

Pacific International Lines (PIL) Group on Oct. 26 took delivery of two new 11,800-TEU containerships, both of which are slated to join the carrier’s joint AC5 service between Asia and the U.S. West Coast.

Built by Yangzijiang Shipbuilding (Holdings) Ltd. in Suzhou, China, the two vessels, the Kota Pahlawan and Kota Panjang, are each fitted with 1,400 reefer plugs that can accommodate up to 2,800 TEUs of refrigerated containers, PIL said.

PIL’s most recent online services schedules show the Kota Pahlawan joined the AC5 with the Nov. 7 sailing from Xiamen and the Kota Panjang will join with the Nov. 15 departure from Xiamen.

According to Ocean carrier schedule and capacity database BlueWater Reporting, the AC5 loop deploys six vessels – three from COSCO, two from PIL and one from Wan Hai – while CMA CGM acts as a slot purchaser. COSCO refers to the loop as the SEA, while Wan Hai calls it the CP1 and CMA CGM calls it the PSX.

The Kota Pahlawan and Kota Panjang are replacing PIL’s two smaller vessels on the service – the 8,531-TEU Navarino and the 8,241-TEU YM Uniform – thus boosting the loop’s average vessel capacity from 9,023 TEUs to around 10,150 TEUs.

The AC5 has a full port rotation of Xiamen, Nansha, Hong Kong, Yantian, Los Angeles/Long Beach, Nakhodka and Xiamen. The service to switches off between calling Los Angeles and Long Beach, while Nakhodka is only called by CMA CGM.