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Cosco pulls China-Canada-US express service

Cosco pulls China-Canada-US express service

COSCO Shipping Lines has withdrawn its express China-Canada-US intermodal service that was launched in October 2021, as carriers continue to trim capacity to respond to falling demand. Container News was informed that the CEN-EXPRESS service had its last sailing when the Xin Ying Kou arrived at Prince Rupert on 29 November. The service used five 4,250 TEU ships to move containers…

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CMA CGM acquires GCT terminal assets in New York

CMA CGM acquires GCT terminal assets in New York

Global Container Terminals Inc. (GCT) has announced that it has entered into an agreement to sell its US-based terminal assets to French container shipping company CMA CGM Group. GCT currently operates two terminals in the United States, GCT New York on Staten Island, New York and GCT Bayonne in Bayonne, New Jersey, in the Port of New York and New…

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Port Houston reports box volume growth

Port Houston reports box volume growth

Container volumes grew by double digits at Port Houston in October. A total of 371,994 TEUs were handled by the port during the last month, translating to a 13% increase compared to October 2021. Loaded containers reached the highest volume ever and were up 21% compared to the same month last year. Overall, container volumes from January to October at…

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US This Year’s Holiday Spending Likely to Set New Record

US This Year’s Holiday Spending Likely to Set New Record

The National Retail Federation is forecasting that US This Year’s Holiday spending will be healthy this year despite inflationary challenges and consumers shifting back to services from goods. The NRF estimates that holiday retail sales are actually expected to grow in November and December at between 6% and 8% over 2021, to reach between $942.6 billion and $960.4 billion. Last…

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MSC strenghtens intra-Asia network

MSC strenghtens intra-Asia network

Mediterranean Shipping Company (MSC) has announced alterations in its intra-Asia service network, which will include new products and upgraded services that will come into effect by the next month. As part of this latest revamp of the network, MSC has announced the launch of a new service, named Dolphin, which will offer connection from China to Indonesia and between Indonesia,…

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MSC books a dozen 16,000 TEU vessels at Yangzijiang

MSC books a dozen 16,000 TEU vessels at Yangzijiang

Yangzijiang Shipbuilding has confirmed that MSC has ordered a dozen 16,000 TEU container ships. The Singapore-listed Chinese ship builder said on 6 October that the LNG dual-fuelled ships, with a total contract value of US$2.16 billion, are among US$2.51 billion of new orders secured between August and early October 2022. The vessels are expected to be delivered from late 2024…

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