Freight forwarder will pay “absolute historic high” to secure container ship as “people are panicking” amid “out of control” market.
Ships at anchor are unlikely to clear by peak season. Congestion is forcing wide-scale voyage cancellations.
The containers that U.S. shippers need are all built in China, where factories could set a new production record this year.
How bad is it? A Vietnam-New York slot was just offered at $19,000 per FEU, reveals Flexport’s Nerijus Poskus.
ZIM is the liner most exposed to upside from America’s import binge. It’s taking full advantage of the situation.
With the retail inventory-to-sales ratio still falling, U.S. importers are urged to move fast on their holiday import plans.
Container rates are in uncharted territory. If demand continues to outpace supply, there’s little to stop them from ascending further.
The situation for importers is getting even more dire. Already extreme container rates are ascending to even higher peaks.
Danaos will stockpile cash from the current boom and spend it on new ships when environmental regs are clearer.
Trans-Atlantic product tanker rates have spiked, but a quick pipeline restart would curb future upside.
Formerly containerized cargoes are being loaded onto bulkers. Box-ship orders are keeping future bulker growth in check.
Tanker execs explain lack of distress sales and scrapping this time around, and why new orders will be more curtailed.
Maersk reveals more details on its shift toward long-term contracts at the expense of spot exposure.
Importers are scrambling as demand sails past ocean transport supply. The numbers paint an ominous picture for cargo shippers.
COVID has been great for stocks. In ocean shipping, container and dry bulk shares rode the wave. Tankers stocks sank.
Chinese container production still trails torrid demand. Ever Given accident was ‘icing on the cake’ — making box shortfall worse.
On this episode of Midday Market Update, Kaylee Nix and Michael Vincent get a look at one of the busiest ports in North America and the business it does with Mexico and Canada.
Now that shipping lines hold the pricing cards, importers must reset strategies, says Sea-Intelligence’s Jochen Gutschmidt.
West Coast congestion could last into the fall as retailers face stockouts on essential goods, says ocean carrier Matson.
Trans-Pacific container crunch is about to become even more severe, warns Flexport, with May sailings now effectively sold out.
