Shipping
Port of Long Beach reports record 2024 cargo volume
Port of Long Beach reports record 2024 cargo volume
China's Ningbo-Zhoushan Port maintains title as top port for cargo volume
U.S. proposes new rules for the entry of low-value shipments
Port of Savannah moves India cargo up to eight days faster
PSA hits 100 million TEUs milestone for the first time
Singapore reports record growth in container throughput, gross tonnage for 2024
deugro transports equipment for Europe’s most sustainable ethane cracker
Rebuilding efforts from devastating L.A. fires could impact container volumes
Seafrigo opens in Vietnam
OOCL to launch another 6,828 TEU ship on the Transpacific trade
Air cargo industry records 14th months of growth, but 2025 outlook cautiously optimistic as risks remain
Maersk halts port surcharges as strike threats end
Air Canada Cargo expands capacity in key Asian markets
Mukran Port starts the year 2025 with new management
US ports strike averted as dockworkers agree on tentative deal
BIMCO: Containership order book hits new record high of 8.3M TEU
deugro ramps up Middle East expansion with new appointments
DP World hits 100M TEU capacity across its network
Port of Tanjung Pelepas surpasses 12M TEUs in 2024, a first in Malaysia
IMO sets seafarers, security and decarbonisation as top agenda in 2025
ICTSI plans US$100M investment for southern Philippine port
Storm clouds darken 2025 outlook
World Shipping Council elects MSC CEO Soren Toft as new chair
PSA Singapore hits record-breaking annual throughput of more than 40M TEUs
DP World kicks off construction of new US$1.2B port in Senegal
Shanghai Port sees annual container throughput exceed 50M TEUs
CMA CGM introduces new rail intermodal service in Ipoh, Malaysia
Shippers embrace painful start to 2025 as Transatlantic air cargo spot rate spiral 100%
Port of LA on track to exceed 10M container units this year
DP World introduces electric transfer vehicle at Port of Brisbane
Port of Long Beach achieves its busiest November
Freightos: Trump support for ILA may make strike less likely
OOCL upgrades Trans-Atlantic services from North Europe to North America
OOCL launches new services between China and India
MSC announces update on solo East/West network
South Korea to invest US$10B to develop Jinhae New Port in Busan
Trump appears to support dockworkers in port automation fight
FedEx, Hong Kong Customs sign MoU on cross-boundary express cargo clearance
US halts Premier Alliance, requests additional information
OOCL announces new China-Laem Chabang service
Yang Ming to launch China-Thailand Express Service to boost Intra-Asia network
Contecon Guayaquil strengthens trade connection to Asia
OOCL to launch second 16,828 TEU vessel on the Transpacific trade
UNCTAD: Global trade will reach a new high in 2024
Ocean Alliance maintains highest capacity market share
Basra Gateway Terminal welcomes first RCL service to Iraq
OOCL names the first of ten Neopanamax vessel
Hapag-Lloyd breaks ground in Uganda
WorldACD: Tonnages hold firm while rates continue to build in peak season
PSA, Evergreen Marine form JV for Singapore container terminal operations
ONE strengthens Southeast Asia presence with Indonesia terminal acquisition
Hapag-Lloyd concludes long-term offtake agreement for green methanol
Trump's new tariff threat could lead to frontloading, rate increases
Global schedule reliability improves marginally in October
MOL signs MoU with Maritime and Port Authority of Singapore
PSA, NUS facilitates sustainable supply chain growth with supply chain living lab launch
Sea-Intel: Major ocean carriers report 600% growth in Q3 earnings over last year
DP World eyes auto sector growth, offers solutions to China’s EV makers
Saudi ports booming as they seek role as logistics hubs
East, Gulf ports strike’s ripple effect could disrupt schedules into 2025
DHL warns of volatile ocean rates and surging capacity ahead
Kerry Logistics appoints Wong Siew Loong as chief commercial officer
Port of LA exceeds 900,000 container units for fourth month
S&P: Operational performance declines in most Southeast Asian ports in Q3
Freightos: No real air peak yet
Globalization remains at a record level, despite geopolitical tensions, uncertainties
Global trade shifts to continue into 2025
ONE, Seaspan announce establishment of OneSea Solutions Pte. Ltd.
PSA BDP inks commitment to Science Based Target Initiatives
Rail transport grows at the Port of Hamburg
Savannah container volumes up 10% in October despite labour disputes
Frankfurt saw another month of cargo growth in October
ONE connects Jacksonville port with five ports in Asia
Canada ports resume operations after government steps in to end labour disputes
Hapag-Lloyd orders 24 container ships worth US$4B
Air cargo peak season to be “much tamer” than expected due to early front loading
Maersk tops Sea-Intel's reliability ranking so far this year
ZIM accelerates global rollout of smart containers
ICTSI blasts Maersk over Durban Container Terminal legal fiasco
CMA CGM said EU ETS regulation changes would raise its surcharges by 75%
DP World to acquire Australia's Silk Logistics
Freightos: Trump win could trigger frontloading ahead of expected tariffs
Trump presidency could reignite US-China trade war, threaten a spike in ocean rates
Drewry: Intra-Asia container shipping market outpaces global growth
Container ship deliveries hit new record of 2.5 million TEUs
DaChan Bay Terminals welcomes new, enhanced Middle East services
MOL to build logistic center on Kobe’s Port Island
Hapag-Lloyd welcomes 7th 23,660 TEU ship “Hamburg Express”
Global shipping schedule reliability drops to 51.4% in September
Strike to hit Canada West Coast ports from November 4
Supply chain resilience drives 18% YoY growth in global M&A in Q3
Singapore port authority says cleanup of oil spill incident completed
Port of New York and New Jersey report second-busiest September
Shipping companies will remain profitable in 2024 despite sharp fall in rates
Greece leads the world’s top 5 largest shipping fleets
MPA said no impact to navigational traffic due to oil spill off Changi
ZIM to restructure its cross-Atlantic service
Hong Kong to Europe tonnages continue to build
Attacks on ships in Ukraine threaten 1% of dry bulk market
Port NOLA appoints Beth Ann Branch new president & CEO
Vessel bunching back to a level almost matching the pandemic peak
FREIGHTOS: WEST COAST LABOR DISRUPTIONS CONTINUE TO PUSH SHIPPERS EAST
November 16, 2022
Importers continue to favour East coast and Gulf ports according to a recent analysis by Freightos, as noting the persisting threat of major port labour disruptions intensifies.
Judah Levine, head of research, at Freightos Group said in possibly the "biggest industrial action" in this dispute so far ILWU members shut down operations for the day at the port of Oakland's main terminal on Monday.
"In other labour developments, a third union in the US rail labour dispute rejected the proposed agreement approved by seven other unions," Levine added.
The Freightos report showed that Asia-US West Coast prices (FBX01 weekly) decreased 2% to US$2,652/FEU — a rate 81% lower than the same time last year.
Asia-US East Coast prices (FBX03 weekly) fell 11% to US$5,602,/FEU, and are 65% lower than rates for this week last year.
For Asia-North Europe prices (FBX11 weekly), Freightos saw an increased of 2% to US$4,837/FEU, and are 66% lower than rates for this week last year.
"Despite increases in blank sailings, transpacific ocean rates continued to decline last week. Hapag-Lloyd’s CEO speculated that rates could continue to fall as demand for freight has decreased both from slipping consumer demand and from inventory build-ups for many importers who placed larger orders earlier in the year to avoid delays and shortages," Levine said.
The Freightos Research chief noted then that Rolf Habben Jansen, CEO of Hapag-Lloyd AG, also believes that rates could "rebound somewhat" once inventories normalize and that carriers will likely start removing more capacity once delays improve and vessels are able to get back into their scheduled positions.
Meanwhile, in other parts of the world, ocean logistics in Australia are bracing for major possible disruption as the country's largest tugboat operator has announced a lockout of its workers starting Friday.
Meanwhile, easing demand saw year-to-date air cargo volumes through Frankfurt drop by more than 10% compared to last year.
Freightos Air Index data shows rates out of Frankfurt closed October at US$3.43/kg to LAX and $3.26/kg to JFK, both more than 38% lower than a year ago.
"Falling volumes and downgraded expectations for e-commerce growth is leading FedEx to remove capacity and threatens to result in a capacity glut as new freighter aircraft enter the market," Levine added.
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