Four carriers today joined Mediterranean Shipping Co. in announcing congestion surcharges on cargo heading from Asia to U.S. West Coast ports.
It’s not just Brazilian ports that are struggling to meet demand. Brazilian road and rail projects are also suffering from severe delays caused by bureaucratic red-tape.
Spot rates on the Asia-Europe trade plunged 13.3 percent this week to $809 per 20-foot container, the third straight week of heavy declines since the Nov. 1 general rate increases failed to stick, according to the latest reading of the Shanghai Containerised Freight Index (SCFI).
The supply of land is the greatest challenge facing logistics property developers in China as they struggle to match supply of modern warehousing facilities to the demand being generated by a rapidly increasing consumer market.
Container throughput at Shanghai edged closer to the 30 million TEU mark in October, with the 3.02 million 20-foot containers handled in the month putting the port on course to blow last year’s 33.6 million box record out of the water by the close of business in December.
For a single product, the iPhone plays a leading role in Taiwan’s export orders, helping push the key economic indicator to a record $44.9 billion in October on demand for the smartphone and other consumer electronics.
West Coast states would be hit hardest if their ports are shut by a longshore strike or lockout, but the most severe impact would be longer-term, according to maritime economist John C. Martin.
The International Longshore and Warehouse Union and the Pacific Maritime Association will not have a contract settlement until December at the earliest because the ILWU is suspending negotiations on coastwide issues until Dec. 2, according to the employers’ organization.
U.S. intermodal volume growth appears to be slowing, reflecting the winding down of the peak season and potential delays caused by U.S. West Coast port congestion.
A Teamsters union election for drivers at a FedEx Freight terminal in Richmond, Virginia, has been canceled, the third election withdrawal in three weeks.
Zim Integrated Shipping Services’ net loss narrowed in the third quarter as the Israeli ocean carrier started to benefit from a $3.4 billion debt restructuring.
The Port of Oakland is closed today following the death Wednesday night of a longshoreman in Benicia, a breakbulk and bulk port on the San Francisco Bay.