April 4, 2017 Comments Off on Alliances Forged by Ports to Retain Coveted Trade Map Spots Views: 562 California News, Los Angeles, Top California

Alliances Forged by Ports to Retain Coveted Trade Map Spots

Seaports are seeking to solidify their position within the global shipping ecosystem by forming alliances. The collaboration among ports follows recent accords struck between container shipping companies.

U.S. ports are joining forces, often dismissing decades of regional competition, in an effort to remain strong and competitive. Pacts to share operations are moving through shipping regulatory reviews for ports such as Georgia and Virginia, Seattle and Tacoma combined in 2015, and even the Ports of Long Beach and Los Angeles have established a limited agreement.

Unprecedented consolidations in the shipping sector set off a string of alliances between shippers that control 90% of shipments on major global trade routes. By loading more cargo on larger ships and making fewer port calls, shippers hope to save money.

Ports are forced to beef up to compete for those ships, or face getting left off the service maps.

Read more at Wall Street Journal

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