<div class="phx-topic abstract-wrapper">An unexpected surge in imports in late May, which caused cargo rolling at Asian ports and a spike in spot rates, is spawning tension between forwarders and carriers in the eastbound trans-Pacific.</div>

An unexpected surge in imports in late May, which caused cargo rolling at Asian ports and a spike in spot rates, is spawning tension between forwarders and carriers in the eastbound trans-Pacific.

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<div>An unexpected surge in Asian exports to the United States in late May, causing cargo rolling at Asian ports and a spike in spot rates, warns of future pockets of tight capacity as shippers cautiously increase volumes and carriers <a>plan blank sailings</a> into August.Tensions are rising between non-vessel operating common carriers (NVOs) and shipping lines as NVOs charge that carriers are intentionally restricting capacity and overbooking vessels in the eastbound trans-Pacific in order to push freight rates higher. For their part, carriers blame the tight capacity on their customers’ inability to accurately forecast demand during the COVID-19 crisis.Regardless of the...

An unexpected surge in Asian exports to the United States in late May, causing cargo rolling at Asian ports and a spike in spot rates, warns of future pockets of tight capacity as shippers cautiously increase volumes and carriers plan blank sailings into August. Tensions are rising between non-vessel operating common carriers (NVOs) and shipping lines as NVOs charge that carriers are intentionally restricting capacity and overbooking vessels in the eastbound trans-Pacific in order to push freight rates higher. For their part, carriers blame the tight capacity on their customers’ inability to accurately forecast demand during the COVID-19 crisis. Regardless of the cause, the tensions speak to larger trends in the container shipping industry, namely carriers’ successful management of capacity to meet future volumes and general uncertainty among importers of just how much restocking is needed as the North American economy recovers from the pandemic. These conditions are expected to continue in the coming months. Carrier executives this week told JOC.com that the tight outbound capacity at Chinese ports resulted from an unexpected late-May spike in US imports. Volumes are increasing as retailers begin to replenish inventories of merchandise that have been moving out of warehouses to store shelves as the US economy begins to reopen. “Everyone missed the volume surge,” in their projections, a liner executive that asked not to be identified said Wednesday. “We rely on our customer forecasts,” he said. Click to enlarge As a result, spot rates from China to the US West Coast are unusually elevated right now, especially given the impact of the COVID-19 crisis on US imports from Asia. Volumes plunged 18.5 percent year over year in May, according to PIERS, a sister product of The Journal of Commerce within IHS Markit. Asia imports in the first five months of this year are down 9.2 percent from the same period in 2019. As of June 5, the Shanghai-US West Coast spot rate was $2,132 per FEU, up 1.7 percent from the previous week and 48.2 percent from the same week a year ago, when the West Coast spot rate was just $1,439 per FEU, according to the Shanghai Containerized Freight Index (SCFI), which is published under the JOC.com Shipping & Logistics Pricing Hub . The Shanghai-US East Coast rate was $2,738 per FEU, basically flat from last week, and 9.4 percent higher than the rate of $2,502 per FEU on June 7, 2019. The spread between the East and West Coast rates is only $606 per FEU. Normally, the spread is about $1,000 higher to the East Coast . This indicates that the import surge has been greatest to the West Coast. Blank sailings reduce capacity in eastbound trans-Pacific NVOs, however, charged that the spike in the West Coast spot rate is due mostly to carriers restricting capacity from South China to the ports of Los Angeles and Long Beach through blank sailings. Carriers this past month have blanked 36 sailings in the trans-Pacific, according to Sea-Intelligence Maritime Consulting. At the same time, import volumes have increased the past two weeks as some regions of the country reopened businesses that were closed during COVID-19 lockdowns. “The country is opening faster than expected,” Jon Monroe, a transportation consultant who represents NVOs in Asia and the US, said in a newsletter to clients on Thursday. Carriers are managing space so tightly through blank sailings that there is a two-week backlog in South China ports for shipments destined to Los Angeles-Long Beach, he said. For weeks 23-24 (beginning June 1 and June 8), vessel capacity in the Pacific Southwest services from South China to California is “extremely tight,” Monroe said. “All steamship lines are overbooked now.” Monroe described space on services to the Pacific Northwest and all-water strings from China to the East Coast as “tight.” David Bennett, president of the Americas at Globe Express Services, said in a newsletter to clients on Monday that the capacity tightness is causing “massive rolls” in Asia as well as other transiting countries. “The market is getting more volatile by the day as the surge of bookings continues to increase. This has severely impacted everyone’s capacity and allocations over the last two weeks,” Bennett wrote. What’s more, Bennett said, “Carriers are taking full advantage of the situation and charging a premium for guaranteed loading or expedited services.” Carriers said vessels leaving some Chinese ports the past two weeks were booked at 110 percent of capacity . NVOs were reportedly told by some carriers that due to vessel overbooking their shipments would be rolled to subsequent voyages unless they paid as much as $500 to $700 more per FEU more than the listed rate. Carriers have ‘zero visibility’ into retail demand In conversations with JOC.com, carrier sources bristled at those statements from NVOs and said their decisions to cancel sailings at Asian ports, which were announced three to five weeks in advance in order to give customers time to adjust their supply chains, are based on feedback they receive from their customers. “We have zero visibility into the supply chain on the customer side,” one carrier executive said. A second carrier executive that asked not to be identified told JOC.com this week carriers in March and April made good-faith supply-demand forecasts in a volatile market that has been roiled by COVID-19. “There was no premeditated plan to prop up rates,” the executive said. Jeremy Nixon, CEO of Ocean Network Express, told JOC Uncharted Wednesday that ONE is attempting to go beyond demand forecasts from customers in an effort to refine its capacity plans even further. “If we only use forecast information four to five weeks out, we’d have some bumps in the road. But we’re using some simulation work and we’re trying to adjust some of these forecasts to make them more accurate,” Nixon said. When US containerized imports from Asia plunged in March and April, carriers were planning their sailing schedules a month or so forward, the carrier executives said. Because they were given no insight into retailers’ plans for replenishing their inventories in May, they determined that in order to control costs, they would have to cancel sailings. Anticipating a slow start to the peak-shipping season that runs from August through October, trans-Pacific carriers since April have canceled more than 120 sailings into July, according to Sea-Intelligence. Retailers likewise are expecting a slow summer shipping season. The latest Global Port Tracker report, which is published monthly by the National Retail Federation and Hackett Associates, projected double-digit year-over-year declines in total US imports in each month from June through September and a 7.6 percent dip in October. Back-to-school merchandise traditionally represents the second busiest period of the year for imports from Asia, but this year, many school districts across the US have yet to determine whether students will return to the classrooms in the fall or study virtually from home. This uncertainty is impacting back-to-school imports, which normally enter the country in May and June in order to be on store shelves immediately after July 4. Carriers say this has added yet another layer of uncertainty to the supply chain. “The market is crazy. How are you going to manage freight in this market?” the first carrier executive said. Contact Bill Mongelluzzo at bill.mongelluzzo@ihsmarkit.com and follow him on Twitter: @billmongelluzzo .

Container lines

Rolled trans-Pacific shipments portend sporadic capacity scarcity

<div class="phx-topic abstract-wrapper">Dockworkers in British Columbia, as well as Montreal, say Labor Minister Steve MacKinnon’s order to accept binding arbitration goes against their rights under Canada’s constitution.</div>

Dockworkers in British Columbia, as well as Montreal, say Labor Minister Steve MacKinnon’s order to accept binding arbitration goes against their rights under Canada’s constitution.

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<div class="phx-topic">Longshore foremen at British Columbia ports plan a legal challenge against a government order for them to return to work and submit to binding arbitration in contract talks with maritime employers, even as Canada’s busiest port plans to reopen Thursday. Meanwhile, Montreal’s dockworkers are also balking at a similar request, arguing such a demand from the government is unconstitutional. The International Longshore and Warehouse Union Local 514 said <a href="https://www.joc.com/article/bc-montreal-ports-set-to-reopen-under-orders-from-canadas-labor-chief-5792214">the order from Canadian Labor Minister Steve MacKinnon for binding arbitration</a> in contract talks between the union and the British Columbia Maritime Employers Association (BCMEA) was unconstitutional, as was his order to reopen ports. The union added that it plans to file a “charter challenge” against the Canada Industrial Relations Board’s (CIRB’s) constitutional power to make such an order. “We will fight this order in the courts,” Frank Morena, president of Local 514, said in a statement. “We will fight the arbitrated forced contract in the courts.” The labor minister’s orders aimed <a href="https://www.joc.com/article/port-lockouts-extend-from-bc-ports-to-montreal-5790073">to end a two-week closure of the ports of Vancouver and Prince Rupert</a> due to the <a href="https://www.joc.com/article/bc-container-ports-set-for-shutdown-after-foremen-begin-strike-5785499">BCMEA locking out members of Local 514 after they voted to strike</a>. MacKinnon’s order also applied to the Port of Montreal’s 1,200 dockworkers who have been in <a href="https://www.joc.com/article/montreal-dockworkers-target-mscs-terminals-for-strike-this-week-5781453">a series of rolling labor actions against maritime employers there since October</a>, culminating in management locking out longshore workers. Local 514 in British Columbia has been in protracted negotiations with the BCMEA over a new contract covering its 700 members since the expiration of the previous deal in March 2023. A separate dispute over the implementation of semi-automated rail mounted gantry cranes at Vancouver’s DP World Centerm terminal prompted the union to strike that facility, but the CIRB ruled that vote was illegal. Despite the union’s challenge, the BCMEA said port operations across the province are set to resume with the night shift on Thursday. <h3>Direct appeal to CIRB </h3>Local 514’s charter challenge first involves a direct appeal to the CIRB about its ability to order a return to work. Even though it was maritime employers who locked out longshore foremen, the CIRB’s return-to-work order also covers any labor actions on the part of the union. If a direct appeal doesn’t work, then Local 514 can turn to Canada’s Supreme Court for a hearing on MacKinnon’s constitutional power to issue such an order. The union’s move is similar to what <a href="https://www.joc.com/article/canadas-labour-minister-orders-end-to-rail-work-stoppage-via-binding-arbitration-5709672">the Teamsters Canada Rail Conference (TCRC) tried when its members were locked out by Canadian National Railway and Canadian Pacific Kansas City back in August</a>. At that time, <a href="https://www.joc.com/article/canadian-rail-workers-back-on-job-after-failed-challenge-to-binding-arbitration-5712234">MacKinnon also ordered union members back to work and to accept binding arbitration</a>, allowing the railroads to resume operations. TCRC is also challenging the minister’s order in court. Separately, the Canadian Union of Public Employees CUPE) Local 375 in Montreal said in a Tuesday statement that it was “disappointed” by MacKinnon’s order, saying he was “trampling on their constitutionally protected rights” and that the government should not interfere in collective bargaining between labor and management. “There is no incentive for them to bargain in good faith because they know the federal government will back their side,” Candace Rennick, CUPE’s national secretary-treasurer, said in the statement. It was not immediately clear whether CUPE will also mount a similar legal challenge to MacKinnon’s order. Contact Michael Angell at <a href="mailto:michael.angell@spglobal.com">michael.angell@spglobal.com</a>. </div>

Longshore foremen at British Columbia ports plan a legal challenge against a government order for them to return to work and submit to binding arbitration in contract talks with maritime employers, even as Canada’s busiest port plans to reopen Thursday. Meanwhile, Montreal’s dockworkers are also balking at a similar request, arguing such a demand from the government is unconstitutional. The International Longshore and Warehouse Union Local 514 said the order from Canadian Labor Minister Steve MacKinnon for binding arbitration in contract talks between the union and the British Columbia Maritime Employers Association (BCMEA) was unconstitutional, as was his order to reopen ports. The union added that it plans to file a “charter challenge” against the Canada Industrial Relations Board’s (CIRB’s) constitutional power to make such an order. “We will fight this order in the courts,” Frank Morena, president of Local 514, said in a statement. “We will fight the arbitrated forced contract in the courts.” The labor minister’s orders aimed to end a two-week closure of the ports of Vancouver and Prince Rupert due to the BCMEA locking out members of Local 514 after they voted to strike . MacKinnon’s order also applied to the Port of Montreal’s 1,200 dockworkers who have been in a series of rolling labor actions against maritime employers there since October , culminating in management locking out longshore workers. Local 514 in British Columbia has been in protracted negotiations with the BCMEA over a new contract covering its 700 members since the expiration of the previous deal in March 2023. A separate dispute over the implementation of semi-automated rail mounted gantry cranes at Vancouver’s DP World Centerm terminal prompted the union to strike that facility, but the CIRB ruled that vote was illegal. Despite the union’s challenge, the BCMEA said port operations across the province are set to resume with the night shift on Thursday. Direct appeal to CIRB Local 514’s charter challenge first involves a direct appeal to the CIRB about its ability to order a return to work. Even though it was maritime employers who locked out longshore foremen, the CIRB’s return-to-work order also covers any labor actions on the part of the union. If a direct appeal doesn’t work, then Local 514 can turn to Canada’s Supreme Court for a hearing on MacKinnon’s constitutional power to issue such an order. The union’s move is similar to what the Teamsters Canada Rail Conference (TCRC) tried when its members were locked out by Canadian National Railway and Canadian Pacific Kansas City back in August . At that time, MacKinnon also ordered union members back to work and to accept binding arbitration , allowing the railroads to resume operations. TCRC is also challenging the minister’s order in court. Separately, the Canadian Union of Public Employees CUPE) Local 375 in Montreal said in a Tuesday statement that it was “disappointed” by MacKinnon’s order, saying he was “trampling on their constitutionally protected rights” and that the government should not interfere in collective bargaining between labor and management. “There is no incentive for them to bargain in good faith because they know the federal government will back their side,” Candace Rennick, CUPE’s national secretary-treasurer, said in the statement. It was not immediately clear whether CUPE will also mount a similar legal challenge to MacKinnon’s order. Contact Michael Angell at michael.angell@spglobal.com .

Container Shipping News

Marine terminals

Longshore labor

North American ports

BC ports to reopen, but longshore union plans challenge to back-to-work order

<div class="phx-topic abstract-wrapper">Developing an over-the-road network to handle containers carried on ships too large to traverse the waterway could increase the canal’s annual throughput by over 60%, officials say, although funding concerns exist.</div>

Developing an over-the-road network to handle containers carried on ships too large to traverse the waterway could increase the canal’s annual throughput by over 60%, officials say, although funding concerns exist.

<div class="phx-topic">The Panama Canal Authority (ACP) is looking for more than $1 billion in funding to develop an over-the-road network connecting the Pacific and Atlantic oceans that would move containers carried on vessels too large to transit the waterway. ACP Administrator Ricaurte Vásquez Morales, who made the plan public at a Houston maritime event last week, said the port authority needs $1.2 billion to $1.4 billion to fund the project aimed at regaining cargo now transshipped via Colombia’s Cartagena and mitigating the canal’s inability to handle the industry’s largest ships. Morales said the land bridge option would have to be cost competitive, a challenge given the increased costs to unload a container, haul by truck and then reload onto another vessel. The idea behind the Panama project would be, for example, to remove eastbound containers on the Pacific side from a vessel too large to move through the canal, ship the boxes across the isthmus via truck, and then reload them on a separate vessel on the Atlantic side for the onward journey.It wasn’t immediately clear the distance the trucks would need to travel, but the canal itself is just over 50 miles long. The transit time via the Panama Canal is about 10 hours, while existing transshipment options take about two days via rail and four days via truck.The public revealing of the plan comes as the Panama Canal <a href="https://www.joc.com/article/panama-canal-transits-rise-to-almost-normal-levels-as-expansion-work-begins-5703116">sporadically grapples with low water levels</a> that prevent it from fully utilizing its larger locks that normally handle fully loaded 14,000- to 15,000-TEU ships. The ACP is eyeing 2027 as the next potential dry season impacting canal passages and forcing draft restrictions, subject to change amid increased weather volatility. While the Suez Canal hasn’t been seen as viable for container routings by major carriers since Houthi militant attacks began late last year, it can handle the industry’s largest ships. Still, Vásquez Morales said the two canals don’t necessarily serve the same markets, with only about 15% overlap in container cargo.<h3>Global order book presents challenges</h3>The Panama Canal can serve ships as large as 17,000 TEUs, but Vásquez Morales said about 20% of the current global order book calls for vessels too large to pass through the waterway. While 72% of the container vessels that transit the Panama Canal do make a port of call to load or unload boxes, 28% of vessels go through without stopping — a figure Vásquez Morales would like to reduce.The Port of Cartagena, he said, is more efficient than the Port of Panama and has capitalized on the opportunity to transship.“We know that the market is there, and it’s probably [going] to grow container traffic,” Vásquez Morales said. “[The order book] clearly indicates that the number [and size] of ships are increasing.”The transshipment project could increase annual container throughput by just over 60%, or 5 million TEUs, from the 8 million TEUs moved currently each year through the canal, said Vásquez Morales.The project would be developed on part of a 54,000-acre plot already purchased by the ACP for $501 million — land Vásquez Morales describes as “challenging.” There is need for further funding to bring the project to fruition as the capital requirements are probably going to exceed local resources, he said, and the Panamanian government will not be financing the project. That means external sources of funding will need to be tapped, but Vásquez Morales did not detail what alternatives are available.The transshipment initiative would utilize existing port facilities on both ends of the isthmus. It also has the potential to expand to another tract of land, also already controlled by the ACP, to handle additional volumes.Contact Laura Robb at <a href="mailto:Laura.Robb@spglobal.com">laura.robb@spglobal.com</a>.</div>

The Panama Canal Authority (ACP) is looking for more than $1 billion in funding to develop an over-the-road network connecting the Pacific and Atlantic oceans that would move containers carried on vessels too large to transit the waterway. ACP Administrator Ricaurte Vásquez Morales, who made the plan public at a Houston maritime event last week, said the port authority needs $1.2 billion to $1.4 billion to fund the project aimed at regaining cargo now transshipped via Colombia’s Cartagena and mitigating the canal’s inability to handle the industry’s largest ships. Morales said the land bridge option would have to be cost competitive, a challenge given the increased costs to unload a container, haul by truck and then reload onto another vessel. The idea behind the Panama project would be, for example, to remove eastbound containers on the Pacific side from a vessel too large to move through the canal, ship the boxes across the isthmus via truck, and then reload them on a separate vessel on the Atlantic side for the onward journey. It wasn’t immediately clear the distance the trucks would need to travel, but the canal itself is just over 50 miles long. The transit time via the Panama Canal is about 10 hours, while existing transshipment options take about two days via rail and four days via truck. The public revealing of the plan comes as the Panama Canal sporadically grapples with low water levels that prevent it from fully utilizing its larger locks that normally handle fully loaded 14,000- to 15,000-TEU ships. The ACP is eyeing 2027 as the next potential dry season impacting canal passages and forcing draft restrictions, subject to change amid increased weather volatility. While the Suez Canal hasn’t been seen as viable for container routings by major carriers since Houthi militant attacks began late last year, it can handle the industry’s largest ships. Still, Vásquez Morales said the two canals don’t necessarily serve the same markets, with only about 15% overlap in container cargo. Global order book presents challenges The Panama Canal can serve ships as large as 17,000 TEUs, but Vásquez Morales said about 20% of the current global order book calls for vessels too large to pass through the waterway. While 72% of the container vessels that transit the Panama Canal do make a port of call to load or unload boxes, 28% of vessels go through without stopping — a figure Vásquez Morales would like to reduce. The Port of Cartagena, he said, is more efficient than the Port of Panama and has capitalized on the opportunity to transship. “We know that the market is there, and it’s probably [going] to grow container traffic,” Vásquez Morales said. “[The order book] clearly indicates that the number [and size] of ships are increasing.” The transshipment project could increase annual container throughput by just over 60%, or 5 million TEUs, from the 8 million TEUs moved currently each year through the canal, said Vásquez Morales. The project would be developed on part of a 54,000-acre plot already purchased by the ACP for $501 million — land Vásquez Morales describes as “challenging.” There is need for further funding to bring the project to fruition as the capital requirements are probably going to exceed local resources, he said, and the Panamanian government will not be financing the project. That means external sources of funding will need to be tapped, but Vásquez Morales did not detail what alternatives are available. The transshipment initiative would utilize existing port facilities on both ends of the isthmus. It also has the potential to expand to another tract of land, also already controlled by the ACP, to handle additional volumes. Contact Laura Robb at laura.robb@spglobal.com .

Port News

Transport, Trade and Regulation News

Panama Canal chief offers land bridge option to transship containers across isthmus

<div class="phx-topic abstract-wrapper">The strong quarterly results mirror those of other carriers, including CMA CGM, Yang Ming Marine and Wan Hai Lines, which have also recently reported stellar third-quarter financials.</div>

The strong quarterly results mirror those of other carriers, including CMA CGM, Yang Ming Marine and Wan Hai Lines, which have also recently reported stellar third-quarter financials.

<div class="phx-topic">Rocketing freight rates and a raft of new services helped propel Taiwan’s Evergreen Marine and South Korean carrier HMM to a bumper third quarter, with net earnings for both carriers outstripping those in the first half of the year. The strong quarterly results mirror those of other carriers, <a href="http://go.microsoft.com/fwlink/p/?LinkId=255141">including CMA CGM</a>, <a href="https://www.joc.com/article/yang-ming-wan-hai-see-q3-net-profit-outpace-first-half-on-demand-higher-rates-5791802">Yang Ming Marine and Wan Hai Lines</a>, which have also recently reported stellar third-quarter profits. Evergreen saw third-quarter net profit surge to $1.9 billion compared with $1.4 billion for the first six months, an analysis of its results filing to the Taiwan stock exchange showed Wednesday. The figures compare with net profit of $677 million in the third quarter of last year. Operating revenue hit $4.7 billion in the third quarter, almost double the $2.4 billion recorded in the year-ago period. Evergreen, ranked the seventh-largest ocean carrier in the world by capacity according to Alphaliner, has seen its cargo volumes and average revenue per TEU rise steadily since April. Total increases of approximately 2.7 million TEUs were reported between July and September compared with 2.5 million TEUs in the prior year period. Average freight rates hit almost $1,900 per TEU in August, against $844 per TEU in August 2023. Evergreen’s third-quarter results were also supported by the launch of a raft of services, including its Asia-East Africa 3 service (AEF3), the Mindanao-Hong Kong-Taiwan (MHT) service with Wan Hai Lines and two intra-Mediterranean services. The carrier said it is also spending almost $187 million on the purchase of 60,500 containers in three deals with different manufacturers. That comes as Alphaliner reported this week Evergreen has asked six shipyards to submit proposals for 11 24,000-TEU methanol dual-fuel vessels that could cost $265 million each. The shipbuilders are Hanwha, Hyundai Heavy and Samsung Heavy from South Korea, China’s Jiangnan Shipyard and Hudong-Zhonghua Shipyard, and Japan’s Imabari Shipbuilding. Deliveries are slated for 2028 and 2029. Evergreen currently has about 550,000 TEUs of new capacity on order for delivery next year and 2026, with 173,000 TEUs of capacity scheduled for delivery between July and the end of this year. <h3>HMM Q3 profit surges, but warns of ‘weak’ Q4 </h3>HMM’s third-quarter net profit surged to $1.2 billion from just $68 million in the prior year period. The July-September result also compared with total net profit of $815 million in the first half of 2024. “Profit growth and enhanced competitiveness were achieved through launching and operating new service routes and a strengthened focus on profitability-driven sales,” the carrier said in a results announcement Wednesday. The new services included a Far East-Latin America Express (FLX) service launched on Aug. 16 that connects Busan, Shanghai and Lazaro Cardenas in Mexico. Third-quarter revenue grew 67% to $2.5 billion from $1.5 billion a year earlier. But HMM warned the buoyant conditions are unlikely to continue, pointing out the “Q4 market outlook is weak.” “The possibility of further US dockworker industrial action may cause [vessel] supply uncertainty,” the carrier said. Maritime consultancy Drewry estimates container shipping will report a profit of $50 billion this year, up from $28 billion in 2023. And while it is a fraction of the $298 billion recorded in pandemic-fueled 2022, the carriers will enter an uncertain 2025 in robust financial health. Contact Keith Wallis at <a href="mailto:keithwallis@hotmail.com">keithwallis@hotmail.com</a>. </div>

Rocketing freight rates and a raft of new services helped propel Taiwan’s Evergreen Marine and South Korean carrier HMM to a bumper third quarter, with net earnings for both carriers outstripping those in the first half of the year. The strong quarterly results mirror those of other carriers, including CMA CGM , Yang Ming Marine and Wan Hai Lines , which have also recently reported stellar third-quarter profits. Evergreen saw third-quarter net profit surge to $1.9 billion compared with $1.4 billion for the first six months, an analysis of its results filing to the Taiwan stock exchange showed Wednesday. The figures compare with net profit of $677 million in the third quarter of last year. Operating revenue hit $4.7 billion in the third quarter, almost double the $2.4 billion recorded in the year-ago period. Evergreen, ranked the seventh-largest ocean carrier in the world by capacity according to Alphaliner, has seen its cargo volumes and average revenue per TEU rise steadily since April. Total increases of approximately 2.7 million TEUs were reported between July and September compared with 2.5 million TEUs in the prior year period. Average freight rates hit almost $1,900 per TEU in August, against $844 per TEU in August 2023. Evergreen’s third-quarter results were also supported by the launch of a raft of services, including its Asia-East Africa 3 service (AEF3), the Mindanao-Hong Kong-Taiwan (MHT) service with Wan Hai Lines and two intra-Mediterranean services. The carrier said it is also spending almost $187 million on the purchase of 60,500 containers in three deals with different manufacturers. That comes as Alphaliner reported this week Evergreen has asked six shipyards to submit proposals for 11 24,000-TEU methanol dual-fuel vessels that could cost $265 million each. The shipbuilders are Hanwha, Hyundai Heavy and Samsung Heavy from South Korea, China’s Jiangnan Shipyard and Hudong-Zhonghua Shipyard, and Japan’s Imabari Shipbuilding. Deliveries are slated for 2028 and 2029. Evergreen currently has about 550,000 TEUs of new capacity on order for delivery next year and 2026, with 173,000 TEUs of capacity scheduled for delivery between July and the end of this year. HMM Q3 profit surges, but warns of ‘weak’ Q4 HMM’s third-quarter net profit surged to $1.2 billion from just $68 million in the prior year period. The July-September result also compared with total net profit of $815 million in the first half of 2024. “Profit growth and enhanced competitiveness were achieved through launching and operating new service routes and a strengthened focus on profitability-driven sales,” the carrier said in a results announcement Wednesday. The new services included a Far East-Latin America Express (FLX) service launched on Aug. 16 that connects Busan, Shanghai and Lazaro Cardenas in Mexico. Third-quarter revenue grew 67% to $2.5 billion from $1.5 billion a year earlier. But HMM warned the buoyant conditions are unlikely to continue, pointing out the “Q4 market outlook is weak.” “The possibility of further US dockworker industrial action may cause [vessel] supply uncertainty,” the carrier said. Maritime consultancy Drewry estimates container shipping will report a profit of $50 billion this year, up from $28 billion in 2023. And while it is a fraction of the $298 billion recorded in pandemic-fueled 2022, the carriers will enter an uncertain 2025 in robust financial health. Contact Keith Wallis at keithwallis@hotmail.com .

Maritime

Evergreen, HMM follow peers in reporting bumper Q3 profits

<div class="phx-topic abstract-wrapper">The union representing about 45,000 dockworkers at East and Gulf coast ports says employers want to eliminate jobs by implementing semi-automated technology at marine terminals. </div>

The union representing about 45,000 dockworkers at East and Gulf coast ports says employers want to eliminate jobs by implementing semi-automated technology at marine terminals.

<div class="phx-topic">The International Longshoremen’s Association (ILA) said Wednesday it has halted negotiations with maritime employers over a new master contract due to what it said was a management proposal for introducing semi-automated equipment that would eliminate longshore jobs. The technology at the heart of the dispute is said to be what’s already in use at New Jersey and Virginia marine terminals. The ILA said in a statement <a href="https://www.joc.com/article/ila-usmx-say-to-resume-talks-on-new-master-contract-in-november-5778794">it broke off talks with the United States Maritime Alliance (USMX) that were scheduled this week</a> due to the “continued pushing [of] automation and semi-automation language in its master contract proposal that will eliminate jobs.” The union and employers were scheduled to meet for four days this week in New Jersey, with the most recent round of talks having ended Tuesday afternoon. “The USMX introduced language in their proposal for semi-automated equipment to be used at ILA ports, which the union outright rejected,” the ILA said. “The ILA recognized this as a renewed attempt by USMX to eliminate ILA jobs with automation and broke off talks.”In a separate statement Wednesday, the USMX said that during the negotiations this week, it was “unable to make significant progress on our discussions that focused on a range of technology issues.”“Unfortunately, the ILA is insisting on an agreement that would move our industry backward by restricting future use of technology that has existed in some of our ports for nearly two decades — making it impossible to evolve to meet the nation’s supply chain demands,” the USMX said.The ILA, which represents about 45,000 dockworkers at ports along the US East and Gulf coasts, staged a three-day strike in early October. <a href="https://www.joc.com/article/ila-usmx-agree-on-new-wage-offer-and-contract-extension-that-reopens-ports-5741882">A tentative deal on wages ended the work stoppage</a>, and a temporary contract extension gave both sides until Jan. 15 to hammer out a final agreement once other bargaining items were settled. <h3>Use of RMGs at ports</h3>Neither side elaborated on the specific technology at issue. But a source familiar with the talks pointed to rail mounted gantry (RMG) cranes as the source of friction between the union and employers. RMGs are used to stack containers coming off ships for placement on truck chassis. The RMGs are operated by longshore workers remotely within offices, unlike other types of terminal equipment which require a human operator directly on the equipment. A longshore worker can also operate multiple RMGs at one time. The advantage of an RMG is that it allows more dense stacking of containers within a yard. Other terminal operations that use straddle carriers or rubber tire gantry cranes with an operator directly on the machine require more lanes on terminal property, reducing the available space for containers. RMGs have been in use at the Port of Virginia’s two main marine terminals since 2014. The former GCT Bayonne terminal at the Port of New York and New Jersey, now owned by CMA CGM, has also used RMGs since 2014 due to the yard’s small footprint.<a href="https://www.joc.com/article/nys-global-terminal-ila-in-arbitration-5219271">The ILA agreed to the previous implementations of RMG technology</a>. It’s unknown if a specific port or marine terminal wants to also implement RMG technology now, the source said, adding, however, that the USMX employers would like to have that option available. The ILA said Wednesday its rank-and-file members fully support breaking off talks and that the brief strike in October “should serve as proof how much they will sacrifice to fight for a fair and decent contract.” While both the ILA and USMX said they hope to resume negotiations soon, neither side said when that might happen. A source close to the maritime employers said they believe talks could resume in the next week or two. Contact Michael Angell at <a href="mailto:michael.angell@spglobal.com">michael.angell@spglobal.com</a>. </div>

The International Longshoremen’s Association (ILA) said Wednesday it has halted negotiations with maritime employers over a new master contract due to what it said was a management proposal for introducing semi-automated equipment that would eliminate longshore jobs. The technology at the heart of the dispute is said to be what’s already in use at New Jersey and Virginia marine terminals. The ILA said in a statement it broke off talks with the United States Maritime Alliance (USMX) that were scheduled this week due to the “continued pushing [of] automation and semi-automation language in its master contract proposal that will eliminate jobs.” The union and employers were scheduled to meet for four days this week in New Jersey, with the most recent round of talks having ended Tuesday afternoon. “The USMX introduced language in their proposal for semi-automated equipment to be used at ILA ports, which the union outright rejected,” the ILA said. “The ILA recognized this as a renewed attempt by USMX to eliminate ILA jobs with automation and broke off talks.” In a separate statement Wednesday, the USMX said that during the negotiations this week, it was “unable to make significant progress on our discussions that focused on a range of technology issues.” “Unfortunately, the ILA is insisting on an agreement that would move our industry backward by restricting future use of technology that has existed in some of our ports for nearly two decades — making it impossible to evolve to meet the nation’s supply chain demands,” the USMX said. The ILA, which represents about 45,000 dockworkers at ports along the US East and Gulf coasts, staged a three-day strike in early October. A tentative deal on wages ended the work stoppage , and a temporary contract extension gave both sides until Jan. 15 to hammer out a final agreement once other bargaining items were settled. Use of RMGs at ports Neither side elaborated on the specific technology at issue. But a source familiar with the talks pointed to rail mounted gantry (RMG) cranes as the source of friction between the union and employers. RMGs are used to stack containers coming off ships for placement on truck chassis. The RMGs are operated by longshore workers remotely within offices, unlike other types of terminal equipment which require a human operator directly on the equipment. A longshore worker can also operate multiple RMGs at one time. The advantage of an RMG is that it allows more dense stacking of containers within a yard. Other terminal operations that use straddle carriers or rubber tire gantry cranes with an operator directly on the machine require more lanes on terminal property, reducing the available space for containers. RMGs have been in use at the Port of Virginia’s two main marine terminals since 2014. The former GCT Bayonne terminal at the Port of New York and New Jersey, now owned by CMA CGM, has also used RMGs since 2014 due to the yard’s small footprint. The ILA agreed to the previous implementations of RMG technology . It’s unknown if a specific port or marine terminal wants to also implement RMG technology now, the source said, adding, however, that the USMX employers would like to have that option available. The ILA said Wednesday its rank-and-file members fully support breaking off talks and that the brief strike in October “should serve as proof how much they will sacrifice to fight for a fair and decent contract.” While both the ILA and USMX said they hope to resume negotiations soon, neither side said when that might happen. A source close to the maritime employers said they believe talks could resume in the next week or two. Contact Michael Angell at michael.angell@spglobal.com .

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ILA breaks off contract talks, accuses USMX of semi-automation push

<div class="phx-topic abstract-wrapper">Customers of automated freight procurement tool Keelvar will get access to more than $1 trillion in truckload pricing data as part of a new arrangement with DAT Freight &amp; Analytics. </div>

Customers of automated freight procurement tool Keelvar will get access to more than $1 trillion in truckload pricing data as part of a new arrangement with DAT Freight & Analytics.

<div class="phx-topic">Freight procurement software provider Keelvar has integrated spot and contract truckload pricing data from DAT Freight &amp; Analytics into its platform to enable shipper-users to compare benchmark rates with their own rates from carriers. Under the partnership, Keelvar will pull pricing information from the DAT IQ product, which is based off more than $1 trillion in freight market transactions submitted directly by more than 1,400 freight shippers and brokers that work with DAT. "The integration of DAT’s real-time freight data into Keelvar's platform elevates our customers’ procurement strategies,” Keelvar founder and CEO Alan Holland said in a statement Tuesday. “With instant access to market insights, they can confidently optimize their freight sourcing, reduce costs and navigate challenges with greater precision and efficiency.” Keelvar operates a procurement platform for shippers built around using sourcing bots to automate the awarding of freight to carriers across transportation modes. The company’s customers include Coca-Cola, Siemens and ExxonMobil. DAT announced in mid-October at its DATCon user conference that it had surpassed the $1 trillion mark in freight transaction data. The company runs the largest load board for the truckload industry and over the past decade has built spot and contract pricing tools for brokers and shippers. It also operates a shipper benchmark group based off its 2020 acquisition of Chainalytics’ Freight Market Intelligence Consortium. DAT joins a large list of Keelvar partners, which includes Xeneta for ocean and air freight price benchmarking. Keelvar competes with companies such as Freightender and Shipsta, which was acquired this summer by Freightos, in providing freight-specific procurement software. The timing of the Keelvar-DAT integration comes as the industry is bracing for an upturn in truckload freight rates after more than two years of moderate demand coupled with overcapacity that is slowly starting to recede. Contact Eric Johnson at <a href="mailto:eric.johnson@spglobal.com">eric.johnson@spglobal.com</a>. </div>

Freight procurement software provider Keelvar has integrated spot and contract truckload pricing data from DAT Freight & Analytics into its platform to enable shipper-users to compare benchmark rates with their own rates from carriers. Under the partnership, Keelvar will pull pricing information from the DAT IQ product, which is based off more than $1 trillion in freight market transactions submitted directly by more than 1,400 freight shippers and brokers that work with DAT. "The integration of DAT’s real-time freight data into Keelvar's platform elevates our customers’ procurement strategies,” Keelvar founder and CEO Alan Holland said in a statement Tuesday. “With instant access to market insights, they can confidently optimize their freight sourcing, reduce costs and navigate challenges with greater precision and efficiency.” Keelvar operates a procurement platform for shippers built around using sourcing bots to automate the awarding of freight to carriers across transportation modes. The company’s customers include Coca-Cola, Siemens and ExxonMobil. DAT announced in mid-October at its DATCon user conference that it had surpassed the $1 trillion mark in freight transaction data. The company runs the largest load board for the truckload industry and over the past decade has built spot and contract pricing tools for brokers and shippers. It also operates a shipper benchmark group based off its 2020 acquisition of Chainalytics’ Freight Market Intelligence Consortium. DAT joins a large list of Keelvar partners, which includes Xeneta for ocean and air freight price benchmarking. Keelvar competes with companies such as Freightender and Shipsta, which was acquired this summer by Freightos, in providing freight-specific procurement software. The timing of the Keelvar-DAT integration comes as the industry is bracing for an upturn in truckload freight rates after more than two years of moderate demand coupled with overcapacity that is slowly starting to recede. Contact Eric Johnson at eric.johnson@spglobal.com .

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The world of LTL is slow to embrace change. Business anachronisms permeate current supply chain processes. These vestiges of the way things used to work define the LTL freight transportation procurement process of many modern shippers.David Knuth, logistics specialist at IEWC, a global supplier of cable and wire based in Wisconsin, is happy to have modernized the RFP process, automating the entire LTL bidding procedure with Bid$ense, SMC³’s automated truckload and LTL freight transportation sourcing solution. But when prompted, he can still recall what once was.In his previous job, a large part of his duties were consumed by creating an intermodal bid package for carriers. In a spreadsheet, Knuth detailed the company’s volumes lane by lane, taking care to delete any errant keystrokes or misleading data. He would then email out the information to each carrier, taking time to respond to detailed technical questions about the spreadsheet data. Finally, he had to compile all the results, create an algorithm that would compare the carriers on each lane, and award the business.“It was a huge undertaking. It took about four months to do,” Knuth said of the old process. “It was almost a full-time job for that part of the year, every year.”In his new job at IEWC, he sat down with Bid$ense on day one and was amazed at the capabilities. Knuth had never before used a bid tool. SMC³’s latest versions of Bid$ense automate the process even further, taking truckload and LTL RFPs entirely online. The tool draws on RFP best-practices protocols to streamline the bidding communication process, enabling bidding carriers to respond accurately and promptly to shipper requests. The solution also does all the distribution work automatically, electronically submitting shipper bid data to carriers based on their actual service capabilities and performance records. Carriers are alerted with timely prompts for RFP deliverables, so shippers aren’t waiting by the phone for responses.Another benefit of automating the process is the data-cleansing assistance. When Knuth sent spreadsheets to carriers, data errors might cloud the bidding process; he might have to resend data or simply accept a price that did not truly reflect the costs of doing business. Data cleansing is incredibly beneficial, he said.The spreadsheet technique also made bidding analysis an onerous task. Since Bid$ense automates and streamlines the entire RFP process, intensive examination is now simple. SMC³ knows that each bid has more than one best outcome. With uniform responses from each carrier, shippers can quickly rank results and create an unlimited quantity of what-if scenarios to make the optimal procurement decision.Jesse Burnett of Central Garden &amp; Pet experiences many of the same benefits. Founded in 1980, Central Garden &amp; Pet has spent the last three decades growing from a small garden supply company to a provider of a range of products from dog chews and bird seed to soil supplements and natural insecticides. For much of its life, the company shipped these disparate goods via LTL and truckload carriers to retailers throughout the country, relying on each business unit to negotiate directly with their freight transportation providers. This arrangement worked fairly well for a small company, but as Central Garden &amp; Pet expanded, leadership decided to consolidate decision making.Burnett helped centralize the transportation decision making in 2015 with SMC³’s Bid$ense. Before Bid$ense, every business unit operated independently as far as negotiating with carriers.“There were a lot of different things just floating around,” he said. “We didn’t have master agreements in place; no national pricing at all. The pricing from carriers was just all over the place, depending on where you were.”The transformations he saw with Bid$ense were immediate. Burnett has been using the tool about every other year since its implementation at the company. Central Garden and Pet’s $19.6 million 2019 LTL bid saved the company just more than 9 percent when compared to its historical average. For Burnett, though, bid automation extends far beyond savings.“We knew that we weren’t getting the best pricing offer from our carriers just because nothing was centralized,” he continued. “We knew that if we combined everything from all these business units and paired it with one corporate offering, then it would drive some cost benefit with it.”When the company initially decided to centralize bid procurement, executives researched a number of different methodologies and technologies. In the end, though, Burnett found that Bid$ense was both widespread and well known, and that his carrier partners already knew how to use the application. Burnett also highlighted the data-cleansing process as a major benefit, saying the rigorous process ensures that carriers always return the best price.“It definitely has helped drive savings,” he said. “Any time you go out there and you drive that competitiveness with the carriers and they know they’re in a bid environment, it seems to sharpen their pencils.”Transportation procurement is an integral part of the modern supply chain. With Bid$ense, shippers can develop a strategic implementation plan that saves them time and money, but also helps them create strong relationships with their carrier partners. These carriers appreciate the solution’s data-cleansing process; when carriers receive a complete shipment history and future volume forecast, they don’t have to guess on pricing. Carriers that receive more data from shippers get a complete picture of that shipper’s freight, allowing them to accurately plan instead of simply preparing for the worst-case scenario. Clean data presented through an automated system can lead to both bigger shipment savings and a lasting partnership between carrier and customer.Whether customers are looking to streamline over-the-road transportation bidding by automating the RFP process or create an entirely new, centralized sourcing process, Bid$ense has the analytical horsepower to get the job done.SMC³ 2020 Customer Case Study

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Shippers save money, time with automated transportation bidding tools

SSA Marine Mexico has made significant strides in modernizing its infrastructure at the Port of Manzanillo, investing $15 million to enhance operational efficiency and sustainability at its facilities. This move is part of the company's broader strategy to remain at the forefront of the shipping and logistics industry. •	Strengthening Sustainability with Advanced Technology <figure class="joc_admin__inline-image-position-left joc_admin__inline-image-size-medium" data-figure-size="medium" data-figure-position="left"><img src="/content-assets/1730488295264_Cranes%20arrival%20to%20TEC%20I.png" alt="Cranes arrival to TEC I" class="joc_admin__inline-image-inherit"></figure> In July, SSA Marine Mexico added seven state-of-the-art E-RTG (Electric Rubber-Tired Gantry) cranes to its fleet, valued at $14 million. These advanced cranes were distributed across its two terminals: four cranes were assigned to the Multipurpose Terminal, and three to the Specialized Container Terminal I. What sets these cranes apart is their dual-operation capability, allowing them to function either on electric power or diesel fuel. This innovation plays a critical role in reducing the environmental impact of operations, contributing to a 7% increase in energy efficiency. This efficiency improvement is equivalent to eliminating nearly 4,000 tons of CO2 emissions annually, underscoring SSA Marine Mexico's commitment to sustainability. Through this acquisition, SSA Marine Mexico not only enhances its cargo-handling capabilities but also reinforces its leadership in integrating cutting-edge, eco-friendly technology in the maritime industry. The company continues to push the boundaries of efficiency and sustainability, ensuring long-term value for both its customers and the environment. •	Upgraded Facilities to Meet Growing Demand <figure class="joc_admin__inline-image-position-left joc_admin__inline-image-size-medium" data-figure-size="medium" data-figure-position="left"><img src="/content-assets/1730488350634_Multipurpose%20terminal.png" alt="Multipurpose Terminal" class="joc_admin__inline-image-inherit"></figure> In addition to the new cranes, SSA Marine Mexico has completed crucial modernization and repair work across its Multipurpose Terminal and Specialized Facility at the Port of Manzanillo. This $1 million investment targeted critical infrastructure enhancements, focusing on both structural integrity and operational functionality. Key improvements included leveling approximately 12,000 square meters in the dock area, along with the removal of outdated concrete curbs and asphalt layers. The upgraded space now features high-resistance pavers designed to optimize water drainage and prevent pooling, ensuring safer and more efficient operations. Moreover, the Specialized Facility saw significant upgrades, including the leveling of key warehouse areas to facilitate smoother cargo handling processes. These infrastructure improvements directly enhance the handling of TEUS (Twenty-foot Equivalent Unit containers), further demonstrating SSA Marine Mexico's unwavering commitment to continuous modernization, operational safety, and efficiency. With these initiatives, SSA Marine Mexico is well-positioned to meet the growing demands of the global shipping industry while setting new standards in sustainable port operations. LINK:<a href="https://www.ssamarine.mx/ssa-ing/index" rel="noreferrer" class="joc_admin__link"> https://www.ssamarine.mx/ssa-ing/index</a>

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SSA Marine Mexico Modernizes Facilities with $15 Million Investment 

If there’s one immutable truth in the world of logistics, it’s this: LTL is an inherently complex form of transportation. Tariffs, rates, DIM weights, transit times — it’s enough to confuse even seasoned logistics professionals. The solution to this knowledge gap has historically been on-the-job training or university supply chain education, but for a variety of reasons there is now a pressing need for third-party, remote LTL training that prepares logistics workers for transportation success. Global Scope Can Overlook Local Intricacies In the past, professionals looking to move into a supply chain career learned about the basics of supply chain from universities. However, many of these college supply chain programs are now global in scope, focusing on worldwide supply chain management instead of the intricacies of specialized domestic transportation. And even these programs, which used to be widespread, are becoming less common. LTL is not an industry of broad-brush strokes; supply chain professionals really need a pointillistic understanding of the logistics of LTL in order to excel in the industry. Accelerating Need for Dedicated LTL Education This lack of specified training put the onus on employers to prepare new hires with the LTL knowledge needed to do their jobs. Dedicated LTL study is a necessity, not a luxury. At the same time, changes in LTL and the broader supply chain world are accelerating. The reliance on e-commerce has ballooned since the start of the pandemic, and last-mile LTL shipments and related e-commerce strains on the supply chain won’t diminish once social distancing abates. That genie isn’t going back into the bottle. So supply chain employers need logistics workers that are fully versed in all aspects of the industry, ready to solve unique shipping and delivery problems based on their extensive supply chain knowledge But why care about LTL? It’s been reported that some shippers in today’s world are no longer concerned with what mode is used to ship their goods. A Multimodal Approach Ensures On-Time Delivery This mode agnosticism means supply chain stakeholders have to be well versed in all modes of transportation. As unforeseen weather events and other disruptions, such as protests, become more common, savvy logistics employees will need to be armed with familiarity of all modes, not just the most popular, to ensure that freight is delivered on time, without damage, and in the most financially expedient way possible. Offerings like SMC³’s LTL online education courses cover a wide range of topics from LTL basics and operations to more advanced concepts like pricing analytics and transportation law. The company also has plans to continually refresh content, adding new expert presenters and taking the feedback of students to make the courses even better as time goes on. Learn more about&nbsp;<a href="https://logisticstrainingcenter.com/smc3-courses/" rel="noreferrer" class="joc_admin__link">SMC³’s LTL Online Education program</a>&nbsp;and view the 2021 hybrid schedule, featuring live industry experts,&nbsp;<a href="https://www.smc3.com/onlinelearning2021/" rel="noreferrer" class="joc_admin__link">here.</a>

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