China Merchants (Holdings) International (CMHI) reported double-digit growth in throughput from January through November, continuing the strong increase in international trade that also drove up volumes at rival port operator Cosco Pacific.
FedEx was forced to turn away freight because of slowdowns at West Coast ports, a reminder of how port congestion is hurting the bottom lines of not just shippers but also the inland transportation providers they depend on.
Negotiators for the International Longshore and Warehouse Union and the Pacific Maritime Association will resume direct negotiations on Thursday, even as they disagree over the current state of the contract talks.
Holiday shoppers in Asia will have to deal with a little less Christmas cheer this year, as trans-Pacific shipments of Christmas trees from the U.S. Pacific Northwest are the latest casualty of West Coast port congestion.
DP World’s shareholders today backed the Dubai-based global terminal operator’s plan to delist its shares on the London stock exchange on the basis that they are too thinly traded there.
Strong growth in the Southeast Asia container trades will be a key focus for Maersk Line’s new Asia-Pacific chief executive Lars Mikael Jensen, who was appointed regional head in September.
Manila’s efforts to clear the backlog of containers congesting the port are being threatened by the Christmas and New Year holidays that the Philippine Ports Authority fears could bring the yard utilisation back to congestion levels.
A U.S. District Court in Oregon ruled that the International Longshore and Warehouse in 2012-13 engaged in unlawful work slowdowns and stoppages at Terminal 6 at the Port of Portland.
Terminal congestion and alleged job actions by the International Longshore and Warehouse Union pulled down Los Angeles-Long Beach container volume by 1 percent on a year-over-year basis in November, according to statistics released by the ports.
Container volume through the Port of Charleston last month rose 8 percent from November 2013 as the South Carolina Port Authority recorded across-the-board increases in cargo volume.
Container volume handled by the Alabama State Port Authority rose 10 percent year-over-year in the fiscal year ended Sept. 30, helping the authority post record revenue for its fiscal year ended Sept. 30.
DP World’s Indian facility, Mundra International Container Terminal, said it broke the one-million-TEU mark for the first time in its fiscal year that ends Dec. 30.
Spot rates in the eastbound trans-Pacific responded to carrier rate increase attempts by jumping about 40 percent this week, Drewry Maritime Research said.