The world’s biggest container lines are on course to post profits in 2022 that will top last year’s record by 73%, according to a new forecast. Net income this year will likely reach $256 billion, roughly equivalent to the gross domestic product of Portugal, based on the 11 carriers monitored by industry veteran John […]
Read MoreThe share of import containers moved by rail from Los Angeles-Long Beach has reached a historical low in the first four months of 2022. It has fallen from 67.9% in 2019 to 56.8% in 2021 and to 40.8% in January through April, according to the Alameda Corridor Transportation Authority (ACTA). The average number of […]
Read MoreIn a positive sign that the International Longshore and Warehouse Union (ILWU) and the Pacific Maritime Association (PMA) are finding common ground, comes the July 26th announcement that the two sides “… have reached a tentative agreement on health benefits, subject to other issues in the negotiations.” The ILWU/PMA announcement may be a signal […]
Read MoreCurrently space especially to the U.S. West Coast has opened up and you are able to book over allocation. Space to the U.S. East Coast and Gulf region is also opening up more and more. However, carriers will continue to blank sailings. The U.S. East Coast is starting to get hit with multiple blank […]
Read MoreA softening of demand combined with record production of new containers last year has forestalled a container shortage. Despite the significant number of containers held up in North America and Europe, ocean carriers, importers and forwarders said that shippers are not facing difficulties obtaining container equipment in China and other points of origin […]
Read MoreSources close to the West Coast longshore labor negotiations believe that a deal could materialize in August or September with little disruption on the docks. Those who agree with this sentiment said recent joint statements from the International Longshore and Warehouse Union (ILWU) and the Pacific Maritime Association (PMA) to keep cargo moving […]
Read MoreThe Port of Long Beach achieved its most active June and busiest quarter on record, boosted by increased consumer demand as retailers stock shelves for back-to-school shopping. Dockworkers and terminal operators moved 835,412 twenty-foot equivalent units in June, up 15.3% from the same month last year and surpassing the previous record set in June […]
Read MoreOverall, China’s total container volumes have only seen a marginal contraction of 2.5% in April despite pandemic-related lockdowns in Shanghai. Even though Shanghai port recorded a -25% drop in containers handled in April, much of that volume was redirected with seven of the ten largest container ports located in China, The McCown Report assessed. Cargo […]
Read MoreContract talks started on May 10th between the Pacific Maritime Association (PMA) and International Longshore and Warehouse Union (ILWU), the two parties who represent many of the companies and workers that keep U.S. West Coast ports running. WHO ARE the ILWU? Labor Union representing port workers on the U.S. West Coast. Members: More than 22,000 […]
Read More12% of U.S. gross domestic product is linked to cargo moving through the 29 West Coast ports. The stakes are particularly high at the Ports of Los Angeles and Long Beach which process 31% of waterborne containerized imports and exports in the U.S. The twin ports have long reigned as the ‘Asia gateway’ for imports […]
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