Ocean carriers expect eastbound trans-Pacific demand to slacken — if not fall — through the rest of 2022 due to heavy preordering from shippers earlier this year and inflation sapping consumer demand. Shipping lines will likely pare down vessel capacity on the Asia–North America lane, but not by much, thanks to massive growth in US imports since the start …
Trans-Pacific carriers in October intend to blank about the same amount of capacity as they did last October, but this will do nothing to stem rapidly falling spot rates, as retailers forecast that year-over-year US imports from Asia will drop each month for the rest of the year.
Container carriers in October plan to blank capacity totaling 698,505 TEU, …
Shanghai International Port Group said it will spend CNY51.3 billion ($7.2 billion) to develop a new port and container terminal at the Yangshan Deep Water Port in Zhejiang province.
The project will have seven 70,000-ton and 1,520,000-ton container berths and supporting facilities with a total annual throughput capacity of 11.6 million TEU, Shanghai International Port Group (SIPG) announced.
Construction …
Mediterranean Shipping Co., the world’s largest container line, will expand into air cargo using four leased Boeing Co. wide-body freighters after missing out in a bid for Italy’s flag-carrier airline.
“This is our first step into this market and we plan to continue exploring various avenues to develop air cargo in a way that complements our core business,” MSC …
Members of the International Longshore and Warehouse Union (ILWU) last week engaged in job actions in Oakland and the Northwest Seaport Alliance of Seattle and Tacoma that slowed down cargo-handling operations and prevented some terminal operators from working night shifts, waterfront sources told JOC.com.
That comes as ILWU leadership and the Pacific Maritime Association (PMA) continue to negotiate a …
Montreal
• Yard utilization remains high
• Congestion due to high port demand amidst declining labor availability
Halifax
• All terminals are operating normally
• Vessel berth wait time is 4 – 7 days
• Rail dwell time is averaging 7 – 10 days
Prince Rupert
• Vessel berth wait time is averaging 8 – 13 days
• Yard …
Transpacific ocean rates might be experiencing a “post-Covid plummet”, but US import volumes remain high and lower freight rates could be “good for the economy”.
As The Loadstar reported, the latest Shanghai Containerized Freight Index (SCFI) showed rates from Shanghai to Los Angeles declining in the space of a fortnight per 40ft.
According to logistics technology platform Descartes, US …
Powerful gales and torrential rains battered Zhoushan in eastern China on Wednesday September 14th as Typhoon Muifa made landfall at the port city in what local media called the strongest tropical cyclone to hit the populous Yangtze River Delta in a decade.
Muifa landed around 8:30 p.m.(1230 GMT) as a strong typhoon, the second-highest in China’s tropical cyclone classification …
Ports around the world have been complaining for nearly a year about the build-up of empty containers blaming the containers piling up in their yards as contributing to the backlogs and disruption in the supply chains. Recently, ports and regulators have been looking at new steps to move the backlog of empties, but according to a new analysis from …
The White House early Thursday September 15th announced it had brokered a tentative agreement between US railroads and unions, averting a strike that would have crippled the country’s already fragile supply chain.
A strike or lockout could have happened just after midnight Friday.
President Joe Biden, in a statement, called the tentative deal “an important win for our economy.”…