A potential strike that could have had adverse effects on the demand for industrial warehouses in North America’s thriving commercial property sector seems to have been avoided with a tentative agreement between union dockworkers and West Coast port operators. Late Wednesday, the Pacific Maritime Association and the International Longshore and Warehouse Union announced that they […]
Read MoreAs the bustling summer season kicks off, labor disputes have disrupted the flow of shipping in the United States. Members of the International Longshore and Warehouse Union have staged protests, resulting in congestion and delays at U.S. West Coast ports, as reported by CNBC. The average wait times for container vessels attempting to enter Los […]
Read MoreWASHINGTON/LOS ANGELES, June 5 (Reuters) – Major retailers and manufacturers are urging the White House to step in and mediate the labor negotiations at West Coast ports, expressing concerns about potential disruptions to shipping during crucial holiday shopping seasons. This call comes after the closure of the largest terminal at the Port of Long Beach […]
Read MoreThe month of May brought further challenges for airfreight rates as a combination of weak demand and a steady influx of returning belly capacity continued to impact the industry. Experts anticipate that this pressure on rates will persist throughout the year. Bruce Chan, director and senior research analyst at investment bank Stifel, expressed concerns about […]
Read MoreA list of challenges including weaker demand, a competitive truck market and a shift in U.S. port activity away from the West Coast to East and Gulf ports that utilize shorter inland hauls, point to a challenging 2023 for rail intermodal, predicts FTR Transportation Intelligence. During a webinar, Todd Tranausky, FTR vice president for […]
Read MoreThe ports of Los Angeles and Long Beach have announced plans to phase out the program created to ease severe congestion on the West Coast. The container dwell fee policy will end on January 24, 2023. Neither port had ever issued the fee since it was announced on 25 October, 2021. The two ports […]
Read MoreAPM Terminals (APMT) said the two largest container gateways in the U.S., Los Angeles-Long Beach and New York-New Jersey, are returning to pre-pandemic efficiency levels while noting it will take some time for ports along the South Atlantic and Gulf Coast to achieve more normal cargo flow. Leo Huisman, APMT’s managing director for the […]
Read MoreThe tight U.S. chassis supply has been a contributing factor in port and rail congestion for more than a year. However, relief is coming, according to Bernard Vaughan, a U.S. chassis executive, who for decades served as the chief lawyer for chassis provider Flexi-Van Leasing. Vaughn, now principal at Vaughan Advisors, told the New […]
Read MoreAccording to data from Industrial real-estate services firm JLL, logistics and distribution firms and 3PLs are the top takers of warehouse space in the U.S., accounting for 15% and 13.1% of the total area respectively (see Figure below). The tightness in warehousing space for the 3PL industry in the U.S. has exponentially increased lease […]
Read MoreCHINA: The heatwave in China has forced some manufacturers in 19 cities and jurisdictions in China to shut down production for six days due to government-planned power cuts. Manufacturing power disruptions are also reported in Shanghai. The interruption is creating more bumps in the road with the approaching seven-day Golden Week holiday in October as […]
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