With West Coast port congestion and container backlogs easing faster than predicted, beneficial cargo owners are reassessing their supply chain strategies for the coming shipping season.
17 Apr 2015
Spot rates in the eastbound trans-Pacific trade lane continue to drag as major U.S West Coast ports make headway on reducing the backlog of cargo that began stacking up at marine terminals since the early fall.
13 Apr 2015
Spot rates and volume from China to the U.S. East Coast continued to rise through March, signs that West Coast congestion is still driving cargo owners to other ports.
10 Apr 2015
For the first time, the Transpacific Stabilization Agreement, a discussion group representing 15 of the largest carrier in the trans-Pacific trade lanes, is pushing for base levels during the current contracting season, a departure from its longstanding policy of issuing targets for rate increases.
08 Apr 2015
Trans-Pacific spot rates rose this week from a 12-month low, suggesting that container lines won acceptance of at least part of an April 9 general rate increase, according to Drewry Maritime Research.
07 Apr 2015
Hamburg Süd led the container shipping industry in on-time service in February, putting an end to Maersk Line’s six-month hold on the top spot, according to SeaIntel Maritime Analysis.
07 Apr 2015
East Coast containerized imports in February almost reached parity with West Coast imports, demonstrating the profound shift in trade that has resulted from port congestion and work slowdowns by the International Longshore and Warehouse Union at West Coast ports. The coming months will determine how much of the shift will be permanent.
26 Mar 2015
Speculation has been rife in the Singapore media about a possible tie-up between Neptune Orient Lines (NOL) and fellow G6 Alliance member Hong Kong’s Orient Overseas International Ltd. (OOIL), but a closer look at the business of the two carriers reveals that merging their operations would create little synergy.
25 Mar 2015
Trans-Pacific spot rates fell 9 percent from last week to a 12-month low amid continuing congestion at U.S. West Coast ports, according to the container freight rate benchmark published by Drewry Maritime Research.
20 Mar 2015
Spot rates continued to tumble on the major east-west trades this week with the Asia-Europe price per 20-foot container hitting $620, its lowest rate in more than 18 months, according to the latest reading of the Shanghai Containerised Freight Index (SCFI).
13 Mar 2015
U.S. shippers importing goods from Asia to the West Coast are paying more in the spot market for ocean shipping but getting worse service in return, a function of carriers’ pricing power gained from strong demand and the effects of the congestion.
11 Mar 2015
Carriers in the trans-Pacific eastbound market are hoping to leverage robust volumes, higher spot rates and the disruption tied to the recent U.S. West Coast labor standoff to achieve higher rates in annual contracts with shippers that take effect on May 1.