IHSA Shippers Association

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Ocean Freight: Cancellation Fees Related to Overbooking

Steamship lines have complained for years that shippers book more containers than what are required to meet their shipping needs. It is common practice for some shippers to place excess container bookings to protect space only to cancel these bookings prior to the sailing date. Steamship lines claim that for every four containers booked, only three show up for the sailing.…

Ocean Carrier Financial Results Seeing Red

The 2016 operating margins for the top 13 ocean carriers have been announced. While the fourth quarter showed some improvement, the overall numbers were abysmal for the containership industry. Of the 13 carriers, only three posted operating margins in the black. Despite an uptick in rates triggered by the collapse of Hanjin Shipping, the remaining 10 carriers posted margins in…

IHSA Negotiating May 1st Ocean Contract Rates

Ocean contract negotiations for cargo moving from Asia to the United States and Canada have been on-going for several weeks. It was anticipated that the carriers were going to take a tough stand this year and push for substantial rate increases. The carriers were not going to allow 2017 to be a repeat of 2016 where they collectively lost billions of dollars. Initial feedback…

Transformation of the Trans-Pacific Ocean Shipping Market

December 31, 2016 could not have come soon enough for shippers that import and export ocean containers through the Trans-Pacific ocean shipping lanes to and from the United States. 2016 will be remembered as one of the most turbulent years on record for the international shipping industry. Shippers struggled to find consistent and reliable services while weaker ocean carriers…

Ocean Freight Rates Trending Higher

A reputable consulting firm, Drewry Shipping Consultants, is forecasting ocean freight rates in the Asia to US trade will increase in 2017. If the forecast is accurate, it would mark the first time since 2010 where there have been any significant increases in ocean freight rates. Carriers have been warning shippers about unsustainable rates since September 2015. Carrier…

IHSA Issues A Rebate

The past twelve months will be remembered as one of the most tumultuous times that the shipping industry has ever faced. Freight rates reached historical lows which sent ocean carrier profits spiraling downward. Shifting carrier alliances and carrier consolidation added to the uneasiness shippers were feeling in the shipping industry. The uneasiness reached its peak on August…

MOL, NKY and K-line to Merge

The International Housewares Shippers Association has been informed by MOL, NYK and K-line of their intentions to consolidate their container shipping divisions into a single operating entity. In the meantime, it is business as usual, and all three companies will continue to operate and serve their customers as they do today on an ongoing basis. Some key points of the…

Space is Tight, Are Your Protected?

Container ships sailing from China to the U.S. have remained full since Hanjin unexpectedly filed for bankruptcy at the end of August. Specific areas, such as Ningbo and Shanghai, are providing far greater challenges for shippers to secure space than the Southern China region. Ocean carriers have been actively rolling cargo from Shanghai and Ningbo for over a month. Some…

Hanjin Bankruptcy is a Game Changer

It was only a matter of time before the unthinkable happened in the shipping industry. On August 31, 2016, Hanjin Shipping filed for bankruptcy protection sending shockwaves through the shipping industry. Bankruptcies are not new to the shipping industry. There have been numerous bankruptcies over the last 15 years with the most notables being Cho Yang in 2001 and Hainan POS in…