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.
Los Angeles-based Plastic Express will occupy 100% of Phase I at the Cedar Port Logistics Center, scheduled to be completed by December.
South Korean shipping line HMM says it was victim of a cyberattack that caused outages to its e-mail systems.
Decision to secure dedicated vessel highlights unprecedented strength of container shipping and risks faced by importers.
Air Canada is making cargo a bigger part of its business plan. It’s turning eight passenger planes into double-deck freighters.
Container spot rates spiked again, with new records set. For importers, the worst is yet to come.
Belarus occupies a key spot on the Trans-Eurasian rail line and is on the flight path used by airlines between Europe and Asia. Freight transport could be a victim if the West imposes sanctions on Belarus for violating what considers international norms.
The “unprecedented” influx of imports continues on the West and East coasts.
New air cargo security rules require 100% screening of every shipment. The Transportation Security Administration says cargo from large warehouses with heavy security measures don’t pose a risk and can skip screening, but some say that’s unfair to companies that comply.
Rising fuel costs are yet another woe for containerized cargo shippers, while widening spreads should benefit ships with scrubbers.
The proposals hope to enforce the carriage of trade and excessive penalties U.S. importers are being charged by foreign carriers.
“With our sustained focus on supply chain digitization, infrastructure investments and strong business relationships, we have the opportunity to build on this historic milestone,” says Executive Director Gene Seroka.
Consolidation in the liner sector is already extreme. Newbuild orders will further concentrate market power in fewer hands.
An intermodal container terminal in Alabama targeted for “earmark” funding would extend the reach of the Port of Mobile.
In an effort to keep trade flowing, major carriers have canceled sailings to Yantian — a useful diversion that has created a whole new chain of bottlenecks.
