Container traffic into the Port of Seattle is down 22.6% YTD, starving the city of freight. Trucking spot rates have cratered, and turndowns have dropped 75% since their peak in October as carriers are forced to accept lower prices.
Geely, owner of Volvo Cars, has acquired a stake in Daimler AG and it has upset AB Volvo, which has decided not to put Volvo Cars’ chief executive up for re-election to its board.
The CEO of Maersk says that in 3-5 years, Maersk will be competing with UPS and FedEx, and recognized as one of their peers. But what’s the strategy?
2018’s unusually late Chinese New Year means that port traffic will normalize and then accelerate for pre-summer shipments at the same time as California’s March harvests, causing a truckload capacity crunch.
Yesterday Maersk Line announced that it joined the New York Shipping Exchange (NYSHEX), a new digital platform offering standardized contracts, locked-in prices, and space security for ocean container shipping.
