Contract truckload rates are defying economic gravity, rising in April when truck tonnage and spot market rates slipped. The cause: capacity. Shippers apparently are willing to pay more to secure it for the long-term.
Germany, the Netherlands and Belgium are the biggest beneficiaries of increased U.S. demand for European goods and materials, according to PIERS, a sister product of JOC.com within IHS Martime & Trade.
The Port of Houston’s loaded container volumes jumped 46 percent in April, boosted by cargo diversions from the U.S. West Coast that appear to have had more staying power than some originally anticipated.
Better data allows for better negotiations.
Demurrage and per-diem detention fees at gridlocked U.S. ports have turned into a multimillion-dollar hot potato. Cargo interests, truckers, ocean carriers and marine terminals are locked in noisy, seemingly nonstop argument over responsibility for the fees. It’s a complex problem with no easy solution — but plenty of finger-pointing.
Royal Mail, the U.K. postal group, boosted full-year operating profit by 6 percent as cost cuts offset sluggish revenues in an increasingly competitive parcels market.
DFDS, the short-sea shipping and logistics group, raised its full year earnings outlook after operating profit surged 150 percent in the first quarter as higher freight traffic on its North European network offset lower volumes on Russian routes.
China’s top 20 coastal ports in April began to claw back some of the container volumes lost during the dismal foreign trade recorded in March, even though exports continued to fall in year-over-year comparisons.
Shipping Australia boss Rod Nairn doesn’t always agree with officials, but when deputy prime minister Warren Truss outlined the government plan to simplify coastal shipping regulation, he was all for it.
U.S. West Coast waterfront employers overwhelmingly voted to ratify a five-year contract with the International Longshore and Warehouse Union, bringing both sides one step closer to healing the wounds inflicted on shippers during months of congestion.