Here are last week’s “Transportation Happenings” that you may find of interest.
1. The Worldwide Fleet of Containerships continues to get both larger in number and vessel size. Click to read attached article. COSCO is not only merging with OOCL but is undergoing a construction program of MegaShips (20 – 21,000 TEUs) which will make them the 3rd largest container carrier in the World behind MAERSK and MSC.
2. MAERSK reported a $1.5 BILLION loss in the 3rd Quarter of 2017 despite revenues being up by $800 MILLION.
3. CGM/CMA has announced that their 9 newbuildings of about 22,000 TEUs will be LNG burning ships.
4. The North American Freight Market grew by 3.2% in the period September 2016 to September 2017. Revenues grew by 4.6% in the same period.