Latest news from Heavy Lift & Project Forwarding International Magazine

Container profitability on the horizon

July 27 - Container lines could see a 12-month cumulative profit of up to USD5 billion this year, as the "super-cycle" of carrier consolidation has changed the playing field and left shippers with less choice, says Drewry.

Speaking during the Container Market and Freight Rate Outlook webinar, Drewry director Philip Damas suggests that the increased merger and acquisition (M&A) activity, "will have deep repercussions on the entire industry; on shippers, suppliers and terminals.

"Also on the level of competition between the carriers, where an industry that is moving, quite frankly, towards an oligopoly, will give carriers much more control than in the past."

With supply and demand tightening, Drewry predicts an average 16 percent rise in freight rates and claims that, for this year, profitability in the liner industry is assured. This is music to the ears of heavy lift and multipurpose shipping lines, as it suggests that container carriers are increasingly likely to focus on their core market, instead of chasing project cargo loads.


Heavy Lift | News

USA ends steel and aluminium tariffs on Canada and Mexico thumbnail image

USA ends steel and aluminium tariffs on Canada and Mexico

May 24 - The USA is removing steel and aluminium tariffs imposed on Canada and Mexico under Section 232 of the Trade Expansion Act of 1962, with all retaliatory tariffs on US goods and any pending litigation also coming to an end.
Views: 300
Maxim names duo for Pacific Northwest thumbnail image

Maxim names duo for Pacific Northwest

May 24 - Maxim Crane Works has appointed Travis Wilt and Alex Clark to lead the expansion of its services in the Pacific Northwest region of North America. 
Views: 315
PPG restructures training course thumbnail image

PPG restructures training course

May 24 - The Project Professionals Group (PPG) has restructured its project cargo forwarding training course into a one-day format.
Views: 293

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