A 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 rail […]
Read MoreLeads U.S. exports as operations stabilize following pandemic-induced import surges The Port of Long Beach marked its second-busiest year on record by moving 9.13 million twenty-foot equivalent units in 2022, allowing for a return to normal operations while once again serving as the nation’s leading export seaport. The Port ended 2022 with 9,133,657 TEUs moved, down 2.7% from 2021, which […]
Read MoreTaking stock of developments in the maritime industry in 2022, one must be content: Every segment experienced a performance ranging from good to outstanding. From offshore to cruise ships and LNG vessels, shipping markets were overall profitable in 2022, in stark contrast to extremely poor markets of a couple of years earlier. Everyone’s mind is […]
Read MoreWith Chinese New Year starting Sunday, and manufacturing and logistics operations virtually shut down there for two weeks, experts say retail inventory levels are in a good place given recent gluts and proactive restocks, but the weeks following will bear watching and might bring issues. System shutdowns related to Chinese New Year, which runs from […]
Read MoreWith factories already closing in China, ahead of next week’s new year holiday, airfreight rates on major routes have continued to decline. One source reported that factories were closing early: in part, because some staff did not get a holiday last year owing to Covid lockdowns, partly because of new Covid cases and also […]
Read MoreThe WSJ’s Sarah Nassauer, Suzanne Kapner and Nick Timiraos report the trends on store shelves may be another sign that inflation is starting to turn a corner. Many companies raised their prices substantially last year to offset higher fuel costs and higher prices for ingredients, parts and labor. Now, some of those costs are coming […]
Read MoreEconomic pressures continue to hamper consumer spending, and industry players are not expecting to see the usual increase in demand as factories close for the two-week holiday. According to a global freight forwarder, the year-end holiday in 2022 did not deplete stock levels. For this reason, a limited uptick in demand is expected after the […]
Read MoreAnalysts and transportation companies agree that despite ongoing COVID challenges in China, it will not result in a widespread crisis leading to a shortage of goods and congestion in supply chains. The decline in China’s industrial production cannot be solely attributed to a lack of Chinese labor due to the pandemic. It is also a […]
Read MoreChinese container exports which typically spike in the weeks leading up to Chinese New Year (CNY), faced a drop in prices and continues to downtrend, performing the worst in 13 years, according to chief shipping analyst at BIMCO, Niels Rasmussen. “Spot rates for containers loading in Shanghai will normally be 12% higher just before […]
Read MoreDrewry’s WCI Asia-North Europe index recorded a 10% increase in the spot rate reading from pre-Christmas levels yet, export demand to North Europe ahead of the Chinese Lunar New Year (CNY) remains dampened and that is expected to continue post-holiday. Lars Jensen, CEO of Vespucci Maritime says the rate spike on the tradelane needed to […]
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