The world’s 50 largest logistics companies generated nearly $248 billion in revenue last year, up nearly 5 percent from 2013’s $237.4 billion, according to Pittsburgh-based research and consulting firm SJ Consulting Group.
Container throughput decline in Hong Kong plunged by double-digits in March when the port handled 13.5 percent fewer containers than during the same month last year, the government’s Port Development Council data shows.
The rising cost of China labor is the most common reason producers of lower value goods give for shifting part of their production from the mainland to Southeast Asian countries, and a look at wage trends in the mainland reveals the extent to which the payroll has risen.
Within the massive growth of e-commerce in China is the rise of what is being called “bonded online shopping”, the cross-border element of online shopping via government approved websites that enables Chinese consumers to buy products from overseas at lower tax rates.
It is not just diversions from the West Coast that has ports along the Eastern Seaboard struggling to handle heavy volumes. It’s also an extremely robust westbound trans-Atlantic market fueled by the higher U.S. dollar and recovering U.S. economy.
The pace of truck rate increases could slow this year, if manufacturing continues to grow slowly and low energy prices deter capital investment, Wall Street analysts said. However, they see a storm coming in 2016-17.
U.S. Federal Maritime Commission Chairman Mario Cordero on Tuesday said the agency is “taking the temperature” on alleged unreasonable demurrage and detention fees. But the agency doesn’t have a timeline on when it will act -- whether that’s through an investigation, a fact-finding mission or something else -- nor is there a guarantee it will.
CSX Transportation profit in the first quarter rose 11 percent year-over-year to $442 million, as strong pricing power helped offset weak intermodal volume growth. Revenue in first three months of year was flat at $3 billion compared to the same period a year ago.
A U.S. dollar in hyperdrive is helping exporters in some trading nations and setting the stage for a surge of U.S. imports.
The 4th U.S. Circuit Court of Appeals has denied the appeal of two Somali nationals who challenged their piracy and murder convictions on grounds that their alleged crimes weren’t committed in international waters.