Container volumes at the Seattle-Tacoma gateway in March surged by 21 percent compared to March 2014, demonstrating that the Pacific Northwest ports are quickly recovering from the port congestion that accompanied four months of work slowdowns.
A full recovery for the world container market is still a long time out, providing little short-term hope to the container lessing sector, say analysts at Drewry Maritime Research.
In a major setback for the new Narendra Modi-led Indian government’s aggressive effort to rev up the economy, the nation’s merchandise exports for fiscal year 2014-15, which ended March 31, fell far short of the targeted $340 billion, according to preliminary trade figures released by the Ministry of Commerce and Industry.
Kerry Logistics has formed a strategic partnership with China’s state-owned rail operator as it begins to tap into Beijing’s One Belt One Road national trade strategy that was announced in March.
The saving grace for carriers on the Asia-Europe trade battling record low freight rates has been lower bunker costs, but even at their present lows, with weakening load factors many ships will not be covering their unit costs, according to Drewry.
Throughput jumped 7.2 percent year-over-year at the port of Rotterdam in the first quarter, driven in part by strong container traffic at Europe's largest port.
Schedule reliability for the core east-west trade lanes hit a five-month peak in March, according to Drewry Maritime Research.
There was an average of three major cargo thefts every day in Europe last year, driven in part by the growing p
Nunzio LaGrasso, a former International Longshoremen’s Association official in New Jersey, was sentenced this week to state and federal prison terms for his role in an organized-crime scheme to extort money from union members.
U.S. diesel prices have fallen to a low not seen since Avatar raked in hundreds of millions of dollar at movie theaters across the country.