4 Factors to Help Negotiate Better Ocean Shipping Contracts This Year| Transportfolio
The 2017-18 ocean shipping contract season is underway. As you evaluate your budget and ponder the best way to approach negotiations, you will want to keep costs down, consider options, and mitigate risks. But this year, there are four other key points you will want to keep in mind as you talk to ocean service providers.
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Global Shipping Trends: What to expect in 2017. Transportfolio by C.H. Robinson
The global transportation industry was dealt a year full of surprises in 2016, and with that came challenges. For most ocean carriers, the first three quarters were extremely challenging financially. While these financial pressures have been ongoing since 2009 due to several factors, overcapacity was certainly one of the most prevalent. Ocean carriers continue to see their average operating margin dip below zero as rates fell to their lowest levels since 2009. All of this mounted to the Hanjin bankruptcy, one of the largest container shipping bankruptcies in history. This action will continue to accelerate the carrier acquisition activities in 2017.
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Global Forwarding, Global Transportation
3 Major Japanese Container Shipping Lines to Consolidate by July 2017.Transportfolio
As we predicted earlier this year, consolidation will and has continued this year. Kawasaki Kisen Kaisha, Ltd. (“K” Line), Mitsui O.S.K. Lines Ltd. (MOL), and Nippon Yusen Kabushiki Kaisha (NYK), three of Japan’s largest container ship lines, have agreed to establish a new joint venture company by approximately July 2017. And by April 2018, business is expected to commence pending regulatory approvals.
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Countdown to Black Friday: From across Oceans to Store Shelves.Transportfolio
Black Friday: a shopping bonanza for bargain-hungry consumers and a day of record-breaking sales for retailers. It’s also the ultimate test of preparedness for supply chain professionals. Planning for the holiday surge starts months in advance—a step that’s even more critical when your freight needs to cross oceans. » Read More
East and West Coast Ports to Battle for U.S. Region After Panama Canal Expansion.Transportfolio
Editor’s note: This post originally ran in October 2015. Since the Panama Canal is scheduled to open this Sunday, June 26, we wanted to share it with you again.
You might think that shippers along the East Coast will be the biggest beneficiaries of fierce competition between the East and West Coast ports. In fact, the battleground on which ports compete for customers will likely expand and move several hundred miles west, toward Chicago and Memphis. It will take in other metropolitan areas like Detroit and Columbus, and encompass a newly contested region that accounts for more than 15% of the U.S. GDP. » Read More
Global Transportation, Logistics