Container Shipping News

Maritime employers say they are offering dockworkers along the East and Gulf coasts a better deal than the one received by their West Coast counterparts last year, but the union says the proposal is inadequate.

Acquiring a majority stake in Loconi International continues the Singapore-based terminal operator’s growth strategy designed to expand control of its cargo handling beyond the quay.

The closure of one of China’s busiest container ports will add to the lengthening vessel delays being seen on the main Asian export trade lanes, while North Europe grapples with its own congestion woes on the other end.

Despite the nearly $140 billion invested in logistics startups globally from 2012 through 2023, most of the industry’s major inefficiencies remain and the underlying structure of the industry has hardly changed.

When the tide turns, liners will need to show agility to avoid going from mega-profits to red ink, writes Jeremy Masters.

The retail giant will enable sellers using its US fulfillment services to access its negotiated ocean rates for full containers from Yantian, Shanghai and Ningbo.

With the potential for labor disruption looming at the end of September, the Global Port Tracker has again upgraded its short-term forecast for imports, saying it expects year-over-year monthly increases at least through the end of the year.

The future of shipping will consist of several different fuel technologies living side by side, with bunker fuels being part of the mix for “many years,” according to Vincent Clerc.

In a new report, industrial real estate firm Jones Lang LaSalle said fundamentals such as absorption of warehouse and distribution space, vacancy rates, deliveries of new properties and subleasing activity slowed in the second quarter.

The carrier believes the ongoing disruption in the Red Sea is now “entrenched” and will not change for the rest of the year.

Vincent Clerc instead expects the ILA and maritime employers to extend the current deal while talks continue rather than shutting down terminals when the contract expires at the end of September.

The crisis has surfaced on the heels of recent capacity expansions from major liners, particularly Maersk and Mediterranean Shipping Co., to tap booming apparel exports and associated input material inflows from China.

The disclosure of a 76% wage increase proposal comes as ILA sent a 60-day notice to the United States Maritime Alliance (USMX) warning that the union is prepared to strike if a new labor deal is not signed before the current contract’s Sept. 30 expiration.

The differential between East and West coast spot rates is now more than $3,000 as retailers rush to ship their imports from Asia ahead of a possible strike by ILA dockworkers when their contract expires on Sept. 30.

The attempts to raise prices on the westbound trade lane come as the shadow of potential labor disruption looms at ports along the US East and Gulf coasts.

Matson’s second quarter financial earnings rose well above both last year and the consensus estimate as shippers looked to its expedited ocean services for relief from high air cargo rates.

With major liners on the trade lane reporting full ships over the last few weeks, incidents of cargo rolling have been more pervasive, forwarders say.

Despite reporting lukewarm second-quarter results, the carrier is expecting disrupted supply chains and strong demand to boost its annual financial result.

The move to increase ship traffic comes as canal officials have started talks with some of the inhabitants who will be affected by the $1.6 billion project to expand the canal’s water catchment, including construction of the Río Indio reservoir.

Not even the widespread disruption to global aviation from the Microsoft IT outage in mid-July could derail resurgent air freight markets.

The container shipping lobby group believes higher costs levied on users of conventional bunkers is vital for the energy transition that requires multi-billion-dollar investments by fuel producers.

As the clock ticks down toward the expiration of ILA’s current contract, the window for frontloading to the East and Gulf coasts is closing and there is limited potential for diversions through Canada and Mexico, writes Journal of Commerce Executive Editor Mark Szakonyi.

The Port Authority of New York and New Jersey is looking to create more space for container operations with a multi-year project to move dry bulk operations from one port area to another.

SeaLead and TS Lines have a new vessel-sharing agreement within SeaLead’s recently launched Asia-US West Coast service, harking back to the pandemic-era rush of new market entrants.

The Singapore-based carrier also said it is expecting to book an operating profit for its current financial year that is more than double its previous forecast despite a “highly uncertain” outlook for the rest of 2024.

Small and midsize forwarders that have watched the ocean shipping market play out this year are left to face the reality of a much-consolidated carrier base that has no qualms about driving up rates hard and fast when openings present themselves, writes Peter Tirschwell.

Vessels on the backhaul trade from Europe to Asia are sailing two-thirds empty, with spot rates on the trade lane falling sharply since February.

The $200 million funding round cuts against the broader trend of venture capital investors pulling back from early- and growth-stage supply chain and logistics startups.

Strong demand, tight vessel capacity and delays at some key Brazilian ports are pushing freight rates close to the record levels hit during the pandemic.

British Columbia's maritime employers warn of a port-wide strike vote taking place as Canada’s labor tribunal considers a union proposal about staffing at DP World’s Centerm.

Investment in technology to address the complex regulation is critical for cargo owners shipping to Europe, but it could have significant side effects to trade and consumer prices, experts warn.

CMA CGM will begin a rebranded standalone India America Express string from Aug. 15, decoupling from the consortium it had with Hapag-Lloyd.

The Marseilles-based ocean carrier grew its revenue in the second quarter, but much of the growth came from its recently expanded logistics division.

The operating profit earned by the Deutsche Bahn subsidiary in the first six months of the year fell slightly but was more than double what it earned in the same period in pre-pandemic 2019.

More than 70% of air cargo space controlled by Kuehne + Nagel subsidiary Apex has been presold for the third and fourth quarters.

The carrier said the move was a response to “ongoing robust demand” on the trade lane, becoming the second trans-Pacific service MSC has relaunched this year.

The Singapore-based ocean carrier is the fifth shipping line to use WaveBL’s electronic bill of lading product.

Jens Lund believes the supply and demand balance on the major trade lanes is being restored as front-loaded shipments make their way through the supply chain.

The passage of the Water Resources Development Act in the House of Representatives brings Congress one step closer to authorizing major navigational projects at the two ports.

Kuehne + Nagel’s Stefan Paul presented a sunny outlook for the rest of the year, saying he expects strengthening air and ocean yields to turn around declines reported across most of the forwarder’s financial metrics in the first half.