Piraeus Port caught between a rock and a hard place
NewsPiraeus Port is currently navigating significant pressures from ongoing diversion of vessels around the Cape of Good Hope and union criticism over safety practices.
Box order surge
Chinese container manufacturing companies have experienced something of a Q4 2016 surge in orders, with many factories likely to be busy until the Chinese New Year in late January. In the past few weeks, sizeable orders have been placed by ocean carriers, including China Cosco Shipping Corp, OOCL, MSC and Hapag-Lloyd. Several executives close to the industry believe the backlog could amount to 500,000+ TEU.
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