There has never been a better time to own container ships and lease them to liners. But some owners are selling ships and cashing out.
Normally big projects are scheduled during slow periods, but the Port of Savannah can’t wait to deepen its berths so there will be extra cargo delays for a few weeks.
“The demand is still here, the demand is growing, ships are getting bigger,” says Port Houston Executive Director Roger Guenther.
An agreement reportedly has been reached that will allow the Ever Given to finally resume the voyage halted when the container ship became wedged between the Suez Canal banks in March.
Hapag-Lloyd now will add 12 23,500-TEU container ships to its fleet beginning in 2023.
Customer backlash against FedEx Freight’s decision to terminate trucking service has forced the carrier to reconsider.
Americans are spending more on services. Contrary to predictions, this has yet to curb demand for containerized goods.
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The Federal Maritime Commission tells Congress exporters allege they are being threatened by ocean carriers if they complain about excessive fees and unfair practices.
Spot pricing has surged even higher, propelled by carrier rate hikes and China congestion fallout.
U.S. food trade group tells maritime regulators that carrier profits do not justify added fees.
The report says that North America will be less appealing than Asia in the eyes of business, at least through mid-decade.
“We know larger ships carrying increased volumes are coming. We want to be out in front of that curve.”
Port Tampa Bay will become one of three Gulf Coast ports accepting containerized cargo from fruit importer Dole.
The headline number for May retail sales was a sequential decline. What may have been lost in the report is that consumers are continuing to spend at a record-setting pace, which bodes well for freight flows.
There’s fintech and FreightTech. PayCargo plays in both spheres and is well supported by investors.
The Federal Maritime Commission is open to considering a mandate on container carriers to book U.S. exports.
May was the busiest month in the 114-year history of America’s busiest port.
Former chief mate of MSC Gayane gets seven years behind bars for lead role in massive 2019 smuggling operation.
South Carolina Ports is touting two new export facilities projects that will have access to the Port of Charleston: a production facility and distribution center for winemaker Gallo and an agricultural transload facility run by Northwest Grains.
