The Federal Maritime Commission (FMC) is establishing three new initiatives that will provide enhanced assistance to shippers, continue to improve legal and regulatory compliance of regulated entities, and focus on remedies to supply chain problems. At the direction of Chairman Daniel Maffei, the Commission will: establish a new and permanent International Ocean Shipping Supply Chain […]
Read MoreAir cargo demand in May has continued to wane while rates have kept rising on major East-West trades compared to a year ago. Average rates from Hong Kong to North America in May increased by 21.7% y/y and 1.2% m/m. From Hong Kong to Europe, average rates for May increased by 34.2% y/y and […]
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 MoreThe U.S. Federal Maritime Commission (FMC) announced increased monitoring requirements for alliance carrier operations. The three global ocean carrier alliances (2M Alliance, Ocean Alliance, and The Alliance) and each of their member companies will now be required to provide enhanced pricing and capacity information. This information will help the FMC assess ocean carrier behavior and marketplace competitiveness. The […]
Read MoreMaersk said this week that it foresees the ports of Los Angeles and Long Beach soon implementing the container dwell fee, announced in October and since delayed week after week, as the ports continue to tackle congestion. The company said in a rate announcement that the likelihood the fee will be implemented “has risen significantly this month.” […]
Read MoreAmerica’s seaports are critical gateways for goods entering and leaving the United States. Last year, many West Coast ports struggled to keep pace with the enormous amount of goods arriving from Asia, resulting in long delays to deliver home goods, electronics, holiday gifts, and other products to U.S. consumers. This year, the West Coast ports […]
Read MoreThe container shipping orderbook currently stands at 6.6 million TEU, equal to 26.7% of the global container shipping fleet. Much of the capacity is scheduled for delivery in the next two years. However, a significant drop in ocean freight rates is unlikely to materialize as carriers have said they will implement capacity management to match […]
Read MoreCanadian West Coast ports are not able to handle U.S. cargo spillover if disruptions are caused by the ongoing longshore contract negotiations. The ports of Vancouver and Prince Rupert are already at capacity with Asian imports destined for U.S. and Canadian markets. Cliff Stewart, vice president of infrastructure at the Port of Vancouver said, “The […]
Read MoreAlliance carriers need to add three ships per loop to sustain weekly frequency and maintain schedule integrity on the Asia-North Europe corridor, Alphaliner analysis showed. After assessing the completion of round-trip voyages between 1 May and 15 May, Alphaliner noted that ships on Asia-North Europe loops arrived back in China, on average 20 days late […]
Read MoreLast year, and early into 2022, the Port of Los Angeles emerged as a major bottleneck in the U.S. supply chain. At its peak, cargo ships could be waiting nine days or longer to be unloaded and shipped off to stores. While things have been improving, there are still bumps along the way, frustrating consumers […]
Read More