Empty containers are stacking up at China’s key ports. As a result, many terminals are relocating surplus boxes to secondary ports to free up space. According to the Container Availability index (CAx), an index of 0.5 indicates a balanced market, and anything above denotes an excess of containers. As of February 5, the Chinese ports of Shanghai, Ningbo, Tianjin, …
US imports from Asia in January saw their first M/M gain since August but were still down 22% from January 2022 as the Y/Y decline in imports accelerated and West Coast market share deteriorated further.
Imports in the largest US trade lane were 1.29 million TEU last month, up from 1.25 million TEU in December but down from 1.66 …
Montreal
Halifax
Prince Rupert
Montreal
• Yard utilization remains high
• Light congestion due to delayed vessels
Halifax
• All terminals are operating normally
• Vessel berth wait time is 1 – 2 days
• Rail dwell time is averaging 5 – 8 days
Prince Rupert
• Vessel berth wait time is averaging 2 – 5 days
• Yard utilization is at 104%…
Chinese New Year, also known as the Lunar New Year, is the most important of the traditional Chinese holidays. In addition to China, LNY is also celebrated in Hong Kong, Taiwan, Korea, Vietnam, and Indonesia; it consists of a period of celebrations, starting on New Year’s Day, as well as on the first day of the first month of …
Any hopes of a surge in air cargo demand ahead of the Chinese New Year/Lunar New Year holiday appear to have faded as economic pressures continue to put the brakes on consumer spending.
The two-week holiday this year falls on January 22 but industry players are not expecting to see the usual increase in demand as factories close for …
Carriers plan to withdraw 27% of all Asia-Europe sailings through the first seven weeks of the year, driven by the ongoing lack of container demand on the trade ahead of the Chinese New Year holiday that begins this weekend.
From Jan. 1 to Feb. 17, the three major carrier groupings — 2M Alliance, THE Alliance, and Ocean Alliance — …
The big picture: The Port of New York and New Jersey became the busiest US port by container import volumes in late 2022 thanks to new services and cargo diversions stemming from congestion and longshore labor negotiations on the West Coast. That growth was accompanied by persistent container and vessel backlogs and truck congestion, but the port authority enacted …
The port recorded just shy of 4 million TEU this year, at 3,974,901 TEU.
This is nearly double the volume posted six years earlier in 2016, and 492,526 TEU more than in 2021.
Total tonnage was up 22 per cent for the year, reaching 55,060,963 short tonnes, a new record.
The port had consistent double-digit growth at Bayport and …
The Shanghai Containerized Freight Index (SCFI) took a 2% tumble to settle at US$1,031.42, its lowest-ever quote since July 2020, settling just a tad higher than the three-year historical low of US$1,022 recorded in January 2020.
While there is a talk of normalization on the cards, with rates nearing the pre-pandemic levels, the advent of the Chinese New Year …