Maritime News

Maersk line on Friday doubled its congestion surcharge for shipments from the U.S.


Weekly wrap-up: LA-LB congestion, ILA’s Daggett and Nicaragua canal
Terminal congestion at the ports of Los Angeles and Long Beach was clearly on the minds of JOC.com readers again this week, with six of the Top 10 stories focusing on the issue.

Shippers and their logistics and transportation providers must collaborate, and not simply negotiate, if they hope to resolve a host of supply chain problems, starting with equipment, personnel and capacity shortages.

Ocean carrier rate revision roundup for Oct. 24
Multiple container lines have planned general rate increases in numerous trade lanes in November, although any gains achieved could be temporary as overcapacity and sluggish global demand continue.

Shanghai Containerized Freight Index spot rates from Asia to Europe continued a downward spiral this week, sinking below the $700 per 20-foot container mark to $697 per TEU.

U.S.-flag domestic carrier Horizon Lines reported higher third-quarter profit as an 8.9 percent rise in container volume offset a 5.1 percent drop in average revenue per box.

Port congestion in Southern California is driving cargo to third-party logistics providers that have access to capacity from ocean and overland carriers, and the information technology systems to link these services together in an end-to-end supply chain solution, according to a 3PL executive.

Fairview Container Terminal at the Port of Prince Rupert. Source: Flickr CC ― B.C. Ministry of Transportation and Infrastructure
The massive congestion affecting the ports of Los Angeles and Long Beach is creating a fresh wave of diversions to other ports as shippers flee the worst congestion that the largest port complex in the Americas has seen in at least a decade.

Chiquita International and Irish banana seller Fyffes are busy wooing shareholders, saying the synergies of a combined company would result in $60 million in annual savings, much of it from lower transportation and fuel bills.

The world’s largest ship financiers, mostly German, could see their vessel assets, dominated by container ships, written down by up to 20 percent in the European Central Bank’s impending review of Eurozone banks’ resiliency.