Bad timing: Still-rising cargo demand is coinciding with container-shipping constraints in the wake of the Suez Canal crisis.
Daniel Maffei becomes chairman at a time of massive disruption in the world of trade.
Add Nike (NYSE: NKE) to the growing list of retailers being severely hampered by port congestion and supply chain bottlenecks. The congestion at West Coast ports in particular strained Nike’s supply chain and negatively impacted revenue, which declined 11% yoy in the quarter ending Feb. 28.
California’s container-ship traffic jam is slightly less jammed but import pressure remains high. One analyst warns the worst may be yet to come.
The Port of LA will use tax funds for repairs needed to address its booming business.
The world’s largest shipping line says it has changed its ways and is no longer playing the spot market, instead going steady with long-term partners.
Fireworks could be stuck at sea by the time the Fourth of July rolls around. Blame massive port congestion and overloaded freight networks. The fireworks industry is asking the Biden administration to provide a fix, but what can it do?
“Today we are in the seventh month of a historic import surge driven by unprecedented demand by American consumers,” says Gene Seroka.
Anchorages are filling up with ships off multiple ports — not just California’s. Yet the reasons behind the traffic jams are not always the same.
The lack of Lunar New Year shutdowns contributes to the busiest February on record.
How does California congestion rank versus 2015 logjam caused by tensions with dockworkers union? It’s not even close: 2021 wins by a long shot.
“As we continue to recover from the COVID-19 pandemic, now is the time to accelerate our throughput and growth,” says Pennsylvania Gov. Tom Wolf.
“Ocean Insights has dominated the container-tracking space, and we look forward to providing the industry not only the best ocean capabilities but also the most comprehensive end-to-end visibility platform,” says project44 CEO Jett McCandless.
Northwest Seaport Alliance reports January exports dropped 13.4% year-over-year.
“American customers will be able to choose to transport their goods using LNG, a new technology that helps to preserve air quality by eliminating almost all atmospheric pollutants,” said CMA CGM CEO Rodolphe Saadé.
Amazon may get the headlines for promising fast deliveries, but if it can’t get the product from overseas, the efficiency of trucks and delivery vans won’t make a difference.
The ocean carrier has not said when customers can expect to receive damaged or intact cargo.
AgTC’s Peter Friedmann said Hapag-Lloyd’s Rolf Habben Jansen failed to mention in a press conference that the container shipping lines are enjoying record profits “while pushing their customers into real financial trouble, some towards bankruptcy.”
It’s not just small and midsized importers that face massive contract rate hikes. Even the biggest shippers will feel the pain.
The Maersk Eindhoven, which lost 260 containers overboard, is slated to berth for repairs in Japan on Thursday.
