A confluence of factors, including vessel bunching at Asian load ports and a pre-Lunar New Year cargo surge, have combined to cause congestion at the port and reduce its railcar availability.
The project, expected to drive further investment at Europe’s second-busiest port, is the largest investment in Europe’s chemical industry in more than 20 years.
The lack of sustained underlying freight demand is keeping contract truckload rates close to flat, analysts and shippers say, despite a late-year seasonal gain in spot rates.
