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 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 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 […]
Read MoreCarriers have warned the Tran-Atlantic’s low schedule reliability in April will continue to persist through the rest of the year. “We do not expect an improvement in schedule disruptions through the end of the year,” Matthew Hill, head of the North America import market for Maersk, told JOC.com. “The primary issue will be the […]
Read MoreCommissioner Rebecca F. Dye today released her Final Report for Fact Finding 29, “The Effects of COVID-19 on the U.S. International Ocean Transportation Supply Chain,” a two-year investigation involving hundreds of Commission stakeholders participating through Team meetings, phone conversations, emails, and presentations to various groups. Commissioner Dye presented the Final Report with twelve Final Recommendations to […]
Read MoreAfter a few positive COVID-19 cases were detected at the end of May and the western area of the YICT were suspended, the situation continued to deteriorate with new positive cases confirmed in Shenzhen (ports of Yantian and Shekou) and Guangzhou (port of Nansha). While local authorities have implemented elevated safety measures (quarantine and […]
Read MoreNo material impact on blank sailings has yet been observed from the lockdown in Shanghai said Sea-Intelligence. The lockdown in Shanghai differs from the Yantian closure in 2021 as Shanghai port remains open and operational, Sea-Intelligence said, with the “problematic part” being the closed manufacturing sites and warehouses, as well as a reduction in available […]
Read MoreShanghai container port has been operating but the lack of trucking capacity has resulted in chaos in supply chains. According to a global forwarder, trucking and entry problems are creating pressure at some yards in Shanghai port. Additionally, some carriers which include Maersk and ONE, have “started to cancel calls at Shanghai to instead provide […]
Read Moreby Dean Croke DAT Solutions, LLC February’s overall Logistics Managers Index reading of 75.2 is the second-highest in the history of the index and offers a glimpse into what future demand could look like for the dry van market. “January’s 3.3% sequential gain makes it 13 consecutive months over 70.0, which we would classify […]
Read MoreExcerpt from Angelo Mathais theloadstar With the pressure on equipment capacity showing no sign of abating, freight forwarders are increasingly turning to “shipper-owned containers (SOCs)” to minimize the risk associated with port congestion and potential penalties, amid Covid-induced supply chain dysfunction. The top 50 forwarders accepting SOC requests had risen sequentially from 6% in […]
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