The Far East-South America trades are facing the threat of rate wars this month as carriers add significant additional capacity to an already oversupplied market, according to Alphaliner.
Global air cargo traffic grew 2.1 percent in May from a year ago, the lowest monthly increase in 2015, as volume contracted in North and South America and Europe, according to the International Air Transport Association.
Freight forwarders and logistics providers today hailed a government-appointed commission’s call for a third runway to be built at London Heathrow airport, Europe’s fourth largest air cargo hub.
U.S. containerized imports from South America are rising on a double-digit basis while U.S. exports to the region stagnate, a recent trend that is narrowing the trade lane’s north-south imbalance and emboldening carriers to seek higher rates.
The start of the second phase of construction of the Yangtze River channel extension project at Nanjing will allow China’s largest inland port to handle ocean-going vessels.
Simatech has received the first of two new container ships with capacities of 4,350 twenty-foot-equivalent units, reflecting continuing and rapid intra-Asia trade demand.
Intermodal industry veteran Steven L. Rubin has been appointed chief executive officer of ITS Technologies & Logistics. ITS provides outsourced operating services for intermodal railroad facilities, container yard services for global shipping and container leasing companies and automotive loading and unloading services.
Transportation providers are preparing for a rebound of containerized apparel imports through U.S. West Coast ports after inbound shipments plunged by double-digits in the first five months of this year.
The arrival of mega-ships is having a profound effect on port operations at all major U.S. gateways, but the biggest impact by far in terms of congestion is being felt in the two largest port complexes, Los Angeles-Long Beach and New York-New Jersey.
State-owned rail operator Container Corporation of India has slashed its charges for the movement of empty containers between Chennai Port and Bangalore, providing some respite for shippers struggling with port delays and ocean carrier surcharges.
Hapag-Lloyd’s seeking of a rate increase in August on its eastbound trans-Pacific services after pushing for identical increases in the last two months suggest recent attempts fared poorly.
In exactly one year new global regulations requiring every packed container have a verified container weight will go into effect, and shippers need to be prepared, an industry trade group warns.
The Michigan-based truckload carrier expects lower second quarter revenue than a year ago but better revenue than in the first quarter as the freight economy slowly expands.