Transportation Happenings – July 10

The following “Transportation Happenings” occurred during the past week that you may find of interest:

  1. COSCO is reporting a $272 Million Profit for the First Half of 2017.  One should remember though that COSCO is basically a State Owned Entity.
  2. The EU (European Union) and Japan have agreed on a massive trade deal which covers 99% of the commodities traded.  This may well force the United States hand to enter into a similar deal with the EU.
  3. Rickmers is a large Company of Containerships that all are on Charter to the major Containership Carriers of the World.  Rickmers has just declared bankruptcy.  Hence, their ships are subject to seizure and all the World’s Container Carriers are exposed.
  4. The North Atlantic Freight Market grew by 7.1% in May 2017 with Exports from the U. S. being particularly heavy.
  5. The problems created Worldwide by the advent of MegaShips is spelled out well in the attached articles from AMERICAN SHIPPER. – click to read article