Cargo interests undoubtedly are relieved that the International Longshore and Warehouse Union and the Pacific Maritime Association reached a tentative contract deal on Feb. 20 after more than nine months of unexpectedly difficult negotiations, but now it’s time for importers and exporters to reassess their commitment to West Coast ports.
28 Feb 2015
The economic fundamentals of the trans-Pacific trade are strengthening, setting the stage for what would normally generate rapid growth in container volumes, especially in the eastbound trade. But this isn’t a normal year.
24 Feb 2015
Los Angeles-Long Beach will always be a vital U.S. gateway, but the nine-month labor dispute that helped bring West Coast ports to the brink of being shutdown is making shippers and industry analysts take a hard look at the trans-Pacific supply chain.
16 Feb 2015
The falling oil price is having a talismanic effect on the cargo shipping industry, boosting consumer spending, raising U.S. demand for China imports and improving the profitability of container lines, research from Barclays has found.
13 Feb 2015
Neptune Orient Line’s container division APL recorded a before tax loss of $37 million in the fourth quarter as the U.S. West Coast port congestion saw volumes fall and forced the carrier to cut sailings on its most important trade.
13 Feb 2015
The U.S. East Coast spot rate hit $5,049 per FEU this week as rising demand for the all-water service pushed rates to record levels, according to the latest reading of the Shanghai Containerized Freight Index (SCFI).
06 Feb 2015
Spot rates on the Asia-U.S. trades soared this week as trans-Pacific carriers prepared to slap on another general rate increase and the East Coast route continued to benefit from heavy levels of West Coast port congestion.
23 Jan 2015
Spot rates on the Asia-North Europe trade surged to $1,256 per 20-foot container as carriers levied January general rates increases and volumes grew in the build up to Chinese New Year, according to the latest reading of the Shanghai Containerized Freight Index (SCFI).
21 Jan 2015
It will be “better luck” this year for loss-making Neptune Orient Lines as plummeting bunker fuel prices give a huge boost to the company’s cost savings drive, according to investment bankers DBS Vickers.
19 Jan 2015
Low bunker fuel prices are helping container shipping line balance sheets, but another impact will be improved schedule reliability as carriers can afford to speed up vessels to make up time lost to rising congestion at many ports around the world.
16 Jan 2015
Spot rates on the Asia-U.S. East Coast rose to their highest level in more than a year, suggesting that the rapidly deteriorating labor talks on the West Coast are driving cargo owners in search of alternative gateways.
07 Jan 2015
Trans-Pacific spot rates slipped 2.9 percent from last week but are expected to rise following a $1,000-per-container increase that carriers have announced for mid-January, Drewry Maritime Research said.