Almost eight months without a union contract, container terminals and their workers are making customers nervous and risk losing business permanently, Global Supply Chain Week panelists warn.
Two container shipping experts give their take on how the hangover after the pandemic boom could play out.
Port expert Walter Kemmsies discussed the distortions in trade and demand for goods and services created by the pandemic during FreightWaves’ Global Supply Chain Week.
Expeditors suffered a significant decline in fourth-quarter earnings as the air and ocean freight markets dropped sharply.
This week, FreightWaves will host Global Supply Chain Week, a three-day virtual experience featuring dozens of leaders in global trade.
The Baltic Dry Index has fallen 91% since October 2021 to one of its lowest levels ever, yet shipowners remain confident.
An upcoming supply chain legislation package will include curbs on Chinese influence over global shipping.
More than 43,500 people in Turkey and Syria have died as a result of the Feb. 6 earthquake, which the United Nations is calling a “once-in-a-generation disaster.”
Los Angeles continues to face a double whammy of sinking demand and fears over the port labor contract that expired in July.
The Georgia Ports Authority said a 16% drop in imports year over year “was fueled in part by reduced orders in retail and manufacturing.”
APM Terminals Mobile has begun a $60 million rail expansion project at the Port of Mobile, Alabama.
The recognition by the Maritime Association of the Port of New York and New Jersey “is reserved for those who have made a lasting difference in our industry and helped advance all aspects of the global transportation industry.”
HMM acknowledged that “freight rates in most key trade lanes have been under downward pressure since H1 2022.”
Ocean carrier Zim will increase the frequency and size of ships used for its e-commerce Baltimore Express service.
Executive Director Mario Cordero said he is optimistic the Port of Long Beach will recapture market share.
This week in Borderlands: The Port of Corpus Christi finishes 2022 with a new tonnage record; Emergent Cold Latin America acquires Mexico-based Qualianz; J&J Snack Foods is opening a major logistics hub in Dallas; and CBP seizes more than $5 million worth of meth hidden in a shipment of radishes.
Ocean carrier revenues fell sharply in the fourth quarter versus the third and continued sinking in January.
Sanctions have split the world’s tanker fleet in two. On one side, those that follow Western rules; on the other, those that don’t.
After a bounce in January, containerized imports could drop this month to the lowest level since May 2020.
Ocean carrier Maersk sees a rough second half of the year, when remaining support from contract rates “will disappear.”
