<div class="phx-topic abstract-wrapper">Congress once again is poised to vote on a measure designed to punish an oppressive regime - this ti</div>

Congress once again is poised to vote on a measure designed to punish an oppressive regime - this ti

<div>Congress once again is poised to vote on a measure designed to punish an oppressive regime - this time in Myanmar - by imposing economic sanctions. As it has so many times in the past, it is once again making a grand but empty political gesture that will do little to change the junta's policies and even less to topple it. By contrast, it will sour relationships with U.S. allies and, worse, harden increasingly anti-Western sentiment in Southeast Asia.The military junta in Myanmar, formerly Burma, deserves all the international ostracism it is getting. The Orwellian-sounding State Law and Order Restoration...

Congress once again is poised to vote on a measure designed to punish an oppressive regime - this time in Myanmar - by imposing economic sanctions. As it has so many times in the past, it is once again making a grand but empty political gesture that will do little to change the junta's policies and even less to topple it. By contrast, it will sour relationships with U.S. allies and, worse, harden increasingly anti-Western sentiment in Southeast Asia. The military junta in Myanmar, formerly Burma, deserves all the international ostracism it is getting. The Orwellian-sounding State Law and Order Restoration Council, or Slorc, which seized power from a legitimately elected government in 1990, has launched a vicious attack on political opposition in recent weeks. The focus of its wrath is the Nobel Peace laureate, Aung San Suu Kyi, an opposition leader whose National League for Democracy won the 1990 election. Leo Nichols, her godfather, died in prison after his arrest for the possession of a fax machine. Prison torture is commonplace, children are coerced into hard labor, and the junta is fast becoming the world's foremost supplier of heroin.Such brazen disregard of the rules of civil conduct raises anew the question of how the world should react, especially when the tyrannical government in Yangon seems to disregard world opinion. There are many tools, political and economic, that can be used to put pressure on Slorc, or any such regime, but imposing unilateral sanctions is the least desirable or effective. More often than not such sanctions can be easily evaded, losing much of their desired effect. Although U.S. allies in Europe have expressed outrage at the junta's conduct, there is no sign governments there would agree to an economic boycott of Myanmar. Moreover, Myanmar's neighbors are growing increasingly impatient with Western interfence in their region. A recent editorial in the Far Eastern Economic Review declared that Asean, the group of Southeast Asian countries considering Myanmar for membership, ''refuses to be dominated by anyone,'' especially the United States. Ahmad Kamil Jaafar, a senior official at the Malaysian foreign ministry, summed up the prevailing sentiment within Asean when he denounced as ''hypocrisy'' Western Europe's condemnation of Myanmar's human rights record. The Clinton administration was right to send diplomats to Asian capitals in an effort to drum up support among the eight Association of Southeast Asian Nations countries for a common diplomatic front against Myanmar, even though the visible effect was small. The Asean countries, meeting over the weekend in Singapore, did not budge from their plan to admit Myanmar to its ranks by 1998. The administration is also right in denying Myanmar economic assistance and voting in the International Monetary Fund against any financial aid. Myanmar's economy is declining, inflation is skyrocketing, the currency is near collapse on foreign exchanges and the government is falling further and further behind in servicing its external debt. Myanmar needs foreign assistance, and denying it will hurt. True, this may force the junta to increase its reliance on the drug trade, but turning Southeast Asia into the center of illicit drug traffic will win it no friends in the region. Far more effective than politically motivated sanctions is a private sector response sparked by consumer and shareholder boycotts. Fear of a consumer backlash has already caused Carlsberg and Heineken, two of Europe's largest breweries, to pull out of Myanmar. Pepsi, Coca Cola, Levi Strauss, Eddie Bauer and other U.S. companies have all abandoned investment plans. It will take time before such measures will bite, but, as South Africa demonstrated, they can be effective. The Senate bill to impose economic sanctions is a bipartisan blunder that will not work.

PUNISHING MYANMAR

<div class="phx-topic abstract-wrapper">Shippers reluctant to accept additional bunker costs might have their hand forced by a healthy breakbulk and project cargo pipeline, market participants say.</div>

Shippers reluctant to accept additional bunker costs might have their hand forced by a healthy breakbulk and project cargo pipeline, market participants say.

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<div class="phx-topic">Sentiment in the multipurpose vessel (MPV) sector remains positive despite elevated bunker prices driven by the war in the Middle East and closure of the Strait of Hormuz, according to carriers. In the latest One World Market Sentiment Index (MSI), One World Shipbrokers’ Justin Archard said the medium-term six-month MPV outlook remains elevated over current levels, while the 12-month outlook remains “supported by the expectation that emerging energy independence policies around the world will unlock a swathe of new projects for the MPV sector.” The MSI slipped just 0.1 to reach 53.3 in the second-quarter edition published May 7. The index averages responses from an anonymous group of 20 to 30 MPV owners and operators to a set of breakbulk shipping-related questions. A reading of 50 is neutral, indicating a static market. Scores below 50 show pessimism or wariness, while a score above 50 indicates optimism. Despite the current optimism, the sharp rise in bunker prices has not gone unnoticed by the MPV sector, Archard said. “With oil markets and bunker costs having been relatively stable for a long period prior to the Iran war, few carriers are likely to have taken any substantial hedging positions and are therefore either entirely exposed to the hike now or will be if elevated bunker rates continue for a lengthy period,” he said. “With all this in play, it might have been expected (that) sentiment would have deteriorated, but in this edition, the index has hardly moved,” Archard added. <h3>Shippers playing ‘wait-and-see’ </h3>The increase in bunker prices has led to higher voyage costs at a time when some shippers are reluctant to accept the additional cost, said one carrier contributing anonymously to the MSI. “In some cases, we see shippers maintaining a wait-and-see stance on forthcoming planned shipments,” the source added. Another respondent said shippers are reluctant to commit, even with fuel adjustment mechanisms in place. This has led to cargoes trading on the spot market for longer periods, “as counterparties delay decisions, either testing the market or waiting for lower-cost options,” said the second source. A third carrier described shippers withholding cargoes until freight shifts to “reasonable” levels as “nothing [more] than a gamble.” <div class="wrapper-narrow"><dynamic-object type="jocchartid" resource-id="188becc9-a589-4175-9104-8df1f8e20148"></dynamic-object></div>Susan Oatway, senior research analyst for breakbulk and project cargo at S&amp;P Global Market Intelligence, noted that MPV freight rates have risen over the past four to six weeks, in line with increased bunker prices. “That is why freight rates have gone up, not because there has been a change in cargo supply and demand,” Oatway said.” Now these bunker price increases have started to be incorporated directly into freight rates.” Data from the JOC Breakbulk Shipper Index suggests that while there are less breakbulk and project cargoes being loaded and discharged in the Middle East, cargoes out of North America and Europe are still stable. “The number of MPVs caught up in the Strait of Hormuz is minor, and the rest of the fleet is re-routing — but they were doing that before this current crisis,” Oatway said. “Shippers have quickly pivoted their project cargo sourcing.” Contact Carly Fields at <a href="mailto:carly.fields@spglobal.com">mailto:carly.fields@spglobal.com</a>. </div>

Sentiment in the multipurpose vessel (MPV) sector remains positive despite elevated bunker prices driven by the war in the Middle East and closure of the Strait of Hormuz, according to carriers. In the latest One World Market Sentiment Index (MSI), One World Shipbrokers’ Justin Archard said the medium-term six-month MPV outlook remains elevated over current levels, while the 12-month outlook remains “supported by the expectation that emerging energy independence policies around the world will unlock a swathe of new projects for the MPV sector.” The MSI slipped just 0.1 to reach 53.3 in the second-quarter edition published May 7. The index averages responses from an anonymous group of 20 to 30 MPV owners and operators to a set of breakbulk shipping-related questions. A reading of 50 is neutral, indicating a static market. Scores below 50 show pessimism or wariness, while a score above 50 indicates optimism. Despite the current optimism, the sharp rise in bunker prices has not gone unnoticed by the MPV sector, Archard said. “With oil markets and bunker costs having been relatively stable for a long period prior to the Iran war, few carriers are likely to have taken any substantial hedging positions and are therefore either entirely exposed to the hike now or will be if elevated bunker rates continue for a lengthy period,” he said. “With all this in play, it might have been expected (that) sentiment would have deteriorated, but in this edition, the index has hardly moved,” Archard added. Shippers playing ‘wait-and-see’ The increase in bunker prices has led to higher voyage costs at a time when some shippers are reluctant to accept the additional cost, said one carrier contributing anonymously to the MSI. “In some cases, we see shippers maintaining a wait-and-see stance on forthcoming planned shipments,” the source added. Another respondent said shippers are reluctant to commit, even with fuel adjustment mechanisms in place. This has led to cargoes trading on the spot market for longer periods, “as counterparties delay decisions, either testing the market or waiting for lower-cost options,” said the second source. A third carrier described shippers withholding cargoes until freight shifts to “reasonable” levels as “nothing [more] than a gamble.” Susan Oatway, senior research analyst for breakbulk and project cargo at S&P Global Market Intelligence, noted that MPV freight rates have risen over the past four to six weeks, in line with increased bunker prices. “That is why freight rates have gone up, not because there has been a change in cargo supply and demand,” Oatway said.” Now these bunker price increases have started to be incorporated directly into freight rates.” Data from the JOC Breakbulk Shipper Index suggests that while there are less breakbulk and project cargoes being loaded and discharged in the Middle East, cargoes out of North America and Europe are still stable. “The number of MPVs caught up in the Strait of Hormuz is minor, and the rest of the fleet is re-routing — but they were doing that before this current crisis,” Oatway said. “Shippers have quickly pivoted their project cargo sourcing.” Contact Carly Fields at mailto:carly.fields@spglobal.com .

Breakbulk News

Maritime

Multipurpose vessel sentiment positive despite bunker price volatility

<div class="phx-topic abstract-wrapper">The loss of a third of global helium output because of the war has given fresh impetus to industrial gas projects in new regions. </div>

The loss of a third of global helium output because of the war has given fresh impetus to industrial gas projects in new regions.

<div class="phx-topic">The war-forced shutdown of Qatar’s Ras Laffan LNG refinery in March triggered the most serious disruption to the global helium market in more than a decade, prompting shippers to pursue industrial projects in alternative regions. The situation has exposed the vulnerabilities in this critical supply chain, pushed prices up sharply, and prompted a renewed focus on potential new helium production facilities in more secure areas. Components for these industrial facilities are a driver of global project cargo demand. The elimination of one-third of global helium supplies has also highlighted how vital the gas is – including for semiconductor and advanced electronics production, MRI machines and other medical diagnostics equipment, aerospace and defense, and precision manufacturing. The world’s major helium suppliers are tight-lipped on how they are dealing with the shortage, reluctant to share information that could be damaging to their reputation or share price, Phil Kornbluth, president of global industry consultant Kornbluth Helium Consulting, told the Journal of Commerce. “The helium business is an oligopoly consisting of six companies, and they tend to control the flow of information,” he said. “All of them are impacted by the loss of supply from Qatar, but at different levels. Not everyone has equal dependence on Qatar.” Industrial gas supplier and shipper Air Liquide, which sources more than half of its helium supply from Qatar, declared force majeure in March, implementing a supply allocation and pricing surcharges, Kornbluth noted. <h3>New opportunities </h3>More than 90% of the world’s helium is a byproduct of natural gas processing, so output cannot be increased or reduced independently of hydrocarbon production. This is where Thomas Abraham-Jones, CEO and co-founder of Pulsar Helium, sees an opportunity for new exploration and production facilities. Pulsar is pursuing standalone, or “primary helium” exploration, at its Topaz project in Minnesota, where flow testing continues and production potential is being assessed; and at the Tunu project in Greenland, where exploration is under way. “We think production of primary helium will be a gamechanger,” said Abraham‑Jones. “The supply chain for helium has always been fragile; that is now intensifying and there is no plan B.” He said Pulsar has identified geological reserves where there isn’t the typical natural gas flows, but rather “extremely high helium contents,” where as much or as little as required can be produced. “In conversations we have had with end-users, they are certainly very excited by the prospect of a supply that is independent of LNG production,” Abraham-Jones said. “And if fossil fuel production is to be phased down because of climate change, then there would be less helium as a byproduct of natural gas production.” There are big differences between Qatar’s massive output and the potential output of new primary startups. There are as many as 60 helium exploration companies around the world, most of which had not been doing well during a period of oversupply, with prices and investor interest declining, said Kornbluth. “This whole situation has provided a shot of adrenaline for the exploration companies,” he said. “However, an event like this doesn’t enable someone to drastically accelerate their progress toward production. “A handful of small producers are just reaching first production,” Kornbluth added. “...A typical small-scale plant produces 1% of what Qatar does; that is 0.3% of global supply. They can make good money if they can produce reliably, but they are not having significant impact on the balance between supply and demand.” <h3>Higher exploration and production costs </h3>Primary helium projects face a fundamental economic hurdle. Unlike LNG‑linked helium, which is essentially “free” once natural gas is processed, standalone helium must cover the full costs of exploration, drilling, pipelines and processing facilities. On the plus side, these projects are relatively small and do not require flaring. Even so, timelines remain challenging. Modest developments typically need around 12 months for permitting and fabrication, with Pulsar’s Minnesota project still at least a year from first production. Canusa EPC, which designs and delivers helium processing facilities, was awarded in March a CO2 and helium EPC project for US Energy Corp. in Montana. Speaking to the Journal of Commerce, Forrest Churchill, Canusa’s principal for project development, warned against assuming that supply can be scaled quickly. “What’s happening in the Strait of Hormuz is developing far faster than industrial projects can respond,” he said. New equipment typically takes nine months from order to delivery, and any new capacity would not be in production for at least 12 months, Churchill said. Rental plants could shorten timelines, but offer lower margins and limited throughput. For long-distance deliveries, liquefaction is necessary, but a liquefaction plant would take three years to build, he said. Most facilities in the US use pressurized tube trailers to deliver, but that limits distance. “Helium will always find a way out,” Churchill said. “In that high-pressure gas state, the leakage rate limits transport to where you can drive in one to two weeks.” Churchill expects to see incremental capacity additions – small to mid‑scale plants capturing local markets and signing direct supply contracts with end-users, bypassing the majors. He noted that developing new helium projects can be challenging because they are often located in areas without existing infrastructure or services, having no links to historic oil and gas production. “Developers have to consider – how am I going to build it, staff it? There is likely no local knowledge,” he said. Contact Felicity Landon on <a href="mailto:felicity@felicitylandon.com">felicity@felicitylandon.com</a>. </div>

The war-forced shutdown of Qatar’s Ras Laffan LNG refinery in March triggered the most serious disruption to the global helium market in more than a decade, prompting shippers to pursue industrial projects in alternative regions. The situation has exposed the vulnerabilities in this critical supply chain, pushed prices up sharply, and prompted a renewed focus on potential new helium production facilities in more secure areas. Components for these industrial facilities are a driver of global project cargo demand. The elimination of one-third of global helium supplies has also highlighted how vital the gas is – including for semiconductor and advanced electronics production, MRI machines and other medical diagnostics equipment, aerospace and defense, and precision manufacturing. The world’s major helium suppliers are tight-lipped on how they are dealing with the shortage, reluctant to share information that could be damaging to their reputation or share price, Phil Kornbluth, president of global industry consultant Kornbluth Helium Consulting, told the Journal of Commerce. “The helium business is an oligopoly consisting of six companies, and they tend to control the flow of information,” he said. “All of them are impacted by the loss of supply from Qatar, but at different levels. Not everyone has equal dependence on Qatar.” Industrial gas supplier and shipper Air Liquide, which sources more than half of its helium supply from Qatar, declared force majeure in March, implementing a supply allocation and pricing surcharges, Kornbluth noted. New opportunities More than 90% of the world’s helium is a byproduct of natural gas processing, so output cannot be increased or reduced independently of hydrocarbon production. This is where Thomas Abraham-Jones, CEO and co-founder of Pulsar Helium, sees an opportunity for new exploration and production facilities. Pulsar is pursuing standalone, or “primary helium” exploration, at its Topaz project in Minnesota, where flow testing continues and production potential is being assessed; and at the Tunu project in Greenland, where exploration is under way. “We think production of primary helium will be a gamechanger,” said Abraham‑Jones. “The supply chain for helium has always been fragile; that is now intensifying and there is no plan B.” He said Pulsar has identified geological reserves where there isn’t the typical natural gas flows, but rather “extremely high helium contents,” where as much or as little as required can be produced. “In conversations we have had with end-users, they are certainly very excited by the prospect of a supply that is independent of LNG production,” Abraham-Jones said. “And if fossil fuel production is to be phased down because of climate change, then there would be less helium as a byproduct of natural gas production.” There are big differences between Qatar’s massive output and the potential output of new primary startups. There are as many as 60 helium exploration companies around the world, most of which had not been doing well during a period of oversupply, with prices and investor interest declining, said Kornbluth. “This whole situation has provided a shot of adrenaline for the exploration companies,” he said. “However, an event like this doesn’t enable someone to drastically accelerate their progress toward production. “A handful of small producers are just reaching first production,” Kornbluth added. “...A typical small-scale plant produces 1% of what Qatar does; that is 0.3% of global supply. They can make good money if they can produce reliably, but they are not having significant impact on the balance between supply and demand.” Higher exploration and production costs Primary helium projects face a fundamental economic hurdle. Unlike LNG‑linked helium, which is essentially “free” once natural gas is processed, standalone helium must cover the full costs of exploration, drilling, pipelines and processing facilities. On the plus side, these projects are relatively small and do not require flaring. Even so, timelines remain challenging. Modest developments typically need around 12 months for permitting and fabrication, with Pulsar’s Minnesota project still at least a year from first production. Canusa EPC, which designs and delivers helium processing facilities, was awarded in March a CO2 and helium EPC project for US Energy Corp. in Montana. Speaking to the Journal of Commerce, Forrest Churchill, Canusa’s principal for project development, warned against assuming that supply can be scaled quickly. “What’s happening in the Strait of Hormuz is developing far faster than industrial projects can respond,” he said. New equipment typically takes nine months from order to delivery, and any new capacity would not be in production for at least 12 months, Churchill said. Rental plants could shorten timelines, but offer lower margins and limited throughput. For long-distance deliveries, liquefaction is necessary, but a liquefaction plant would take three years to build, he said. Most facilities in the US use pressurized tube trailers to deliver, but that limits distance. “Helium will always find a way out,” Churchill said. “In that high-pressure gas state, the leakage rate limits transport to where you can drive in one to two weeks.” Churchill expects to see incremental capacity additions – small to mid‑scale plants capturing local markets and signing direct supply contracts with end-users, bypassing the majors. He noted that developing new helium projects can be challenging because they are often located in areas without existing infrastructure or services, having no links to historic oil and gas production. “Developers have to consider – how am I going to build it, staff it? There is likely no local knowledge,” he said. Contact Felicity Landon on felicity@felicitylandon.com .

Project cargo

Big drop in Middle East helium production drives alternative projects

<div class="phx-topic abstract-wrapper">The war with Iran, now in its third month, is the prime mover behind the economic uncertainty, the National Retail Federation and Hackett Associates indicated in their latest Global Port Tracker. </div>

The war with Iran, now in its third month, is the prime mover behind the economic uncertainty, the National Retail Federation and Hackett Associates indicated in their latest Global Port Tracker.

<div class="phx-topic">The traditional peak shipping season in the US may effectively pass unnoticed this year, a major retail group suggested Friday, citing weak consumer confidence and retailers hesitant to launch any meaningful restocking given a hazy economic outlook. The war with Iran, now in its third month, is the prime mover behind the economic uncertainty, the National Retail Federation (NRF) and Hackett Associates indicated in their latest Global Port Tracker (GPT). “With inflation rising and consumer confidence falling among global economic uncertainty driven by the conflict in Iran, the overall trend of lower imports is expected to continue...,” Jonathan Gold, NRF’s vice president for Supply Chain and Customs Policy, said in a statement accompanying the group’s forecast. The NRF said US imports in May and June will actually be moderately higher than the year-ago figures, but noted that growth is largely artificial because it’s being compared with May and June 2025 when imports fell sharply following the Trump administration’s implementation of widespread tariffs that April. The true import picture will come into focus in the heart of summer, with the NRF’s July forecast of 2.2 million TEUs down almost 8% year over year. And things will weaken progressively from there, despite August being the traditional start of peak shipping season when retailers stock up ahead of the year-end holidays. The NRF projects August imports at 2.19 million TEUs, down 5.5% year over year; and September at 2.08 million TEUs, 1.3% below the year prior. The fact that September — typically the heart of peak season — is forecast to be one of the weaker import months of 2026 is especially telling. “Containerized imports in the first quarter were down year over year, and forward demand is weakening,” Hackett Associates founder Ben Hackett said in the statement. “<a href="https://www.joc.com/article/potential-new-us-tariffs-cloud-sourcing-strategies-peak-season-demand-6187613">Stalling restocking efforts</a> and rising geopolitical tensions are increasingly clouding the outlook.” This year would be the second in a row without the typical August through October peak season, following last year’s tariff-linked disruptions. “It’s not like we have a traditional peak season anymore,” said Serkan Kavas, executive vice president for imports at the forwarder MTS Logistics. “There may be a couple months peak, year over year, but at the end of the day, the expectations are not that great right now from our customers and from what I’m hearing from industry and from other companies too.” <h3>Consumer confidence at new low </h3>Meanwhile, fresh consumer indicators were grim. The University of Michigan Consumer Sentiment Index, out Friday, fell to a new record low of 48.2, down from 49.8 in April. “About one-third of consumers [surveyed] spontaneously mentioned gasoline prices and about 30% mentioned tariffs. Taken together, consumers continue to feel buffeted by cost pressures, led by soaring prices at the pump,” Joanne Hsu, the survey’s director, said in a statement. “Middle East developments are unlikely to meaningfully boost sentiment until supply disruptions have been fully resolved and energy prices fall,” Hsu added. US retail sales in March, the most recent data available, increased 1.7% month over month to $752.1 billion, according to the US Census Bureau, driven mainly by soaring gasoline prices, which do not contribute to retail merchandise imports. <div class="wrapper-narrow"><dynamic-object type="jocchartid" resource-id="b0bc7107-6699-4b28-9759-684b190b845a"></dynamic-object></div>Container lines on the eastbound trans-Pacific are nevertheless deploying or planning to deploy progressively more capacity in May through July than they did a year ago. According to ocean freight visibility provider eeSea, carriers are deploying almost 2 million TEUs in May, 2.13 million TEUs in June and just under 2.2 million TEUs in July. That’s up from 1.6 million TEUs, 1.98 million TEUs, and 2 million TEUs, respectively, in May–July 2025. Carriers are also blanking less capacity, according to eeSea: 207,797 TEUs in May, 117,403 TEUs in June, and 50,969 TEUs in July. That compares with 472,948 TEUs, 249,745 TEUs, and 239,573 TEUs, respectively, in the same period last year. The GPT forecasts imports at 13 US ports: Los Angeles, Long Beach, Oakland, Seattle, Tacoma, New York/New Jersey, Virginia, Charleston, Savannah, Port Everglades, Miami, Jacksonville and Houston. Contact Kevin Saville at <a href="mailto:kevin.saville2@spglobal.com">kevin.saville2@spglobal.com</a>. Contact Bill Mongelluzzo at <a href="mailto:bill.mongelluzzo@spglobal.com">bill.mongelluzzo@spglobal.com</a>.</div>

The traditional peak shipping season in the US may effectively pass unnoticed this year, a major retail group suggested Friday, citing weak consumer confidence and retailers hesitant to launch any meaningful restocking given a hazy economic outlook. The war with Iran, now in its third month, is the prime mover behind the economic uncertainty, the National Retail Federation (NRF) and Hackett Associates indicated in their latest Global Port Tracker (GPT). “With inflation rising and consumer confidence falling among global economic uncertainty driven by the conflict in Iran, the overall trend of lower imports is expected to continue...,” Jonathan Gold, NRF’s vice president for Supply Chain and Customs Policy, said in a statement accompanying the group’s forecast. The NRF said US imports in May and June will actually be moderately higher than the year-ago figures, but noted that growth is largely artificial because it’s being compared with May and June 2025 when imports fell sharply following the Trump administration’s implementation of widespread tariffs that April. The true import picture will come into focus in the heart of summer, with the NRF’s July forecast of 2.2 million TEUs down almost 8% year over year. And things will weaken progressively from there, despite August being the traditional start of peak shipping season when retailers stock up ahead of the year-end holidays. The NRF projects August imports at 2.19 million TEUs, down 5.5% year over year; and September at 2.08 million TEUs, 1.3% below the year prior. The fact that September — typically the heart of peak season — is forecast to be one of the weaker import months of 2026 is especially telling. “Containerized imports in the first quarter were down year over year, and forward demand is weakening,” Hackett Associates founder Ben Hackett said in the statement. “ Stalling restocking efforts and rising geopolitical tensions are increasingly clouding the outlook.” This year would be the second in a row without the typical August through October peak season, following last year’s tariff-linked disruptions. “It’s not like we have a traditional peak season anymore,” said Serkan Kavas, executive vice president for imports at the forwarder MTS Logistics. “There may be a couple months peak, year over year, but at the end of the day, the expectations are not that great right now from our customers and from what I’m hearing from industry and from other companies too.” Consumer confidence at new low Meanwhile, fresh consumer indicators were grim. The University of Michigan Consumer Sentiment Index, out Friday, fell to a new record low of 48.2, down from 49.8 in April. “About one-third of consumers [surveyed] spontaneously mentioned gasoline prices and about 30% mentioned tariffs. Taken together, consumers continue to feel buffeted by cost pressures, led by soaring prices at the pump,” Joanne Hsu, the survey’s director, said in a statement. “Middle East developments are unlikely to meaningfully boost sentiment until supply disruptions have been fully resolved and energy prices fall,” Hsu added. US retail sales in March, the most recent data available, increased 1.7% month over month to $752.1 billion, according to the US Census Bureau, driven mainly by soaring gasoline prices, which do not contribute to retail merchandise imports. Container lines on the eastbound trans-Pacific are nevertheless deploying or planning to deploy progressively more capacity in May through July than they did a year ago. According to ocean freight visibility provider eeSea, carriers are deploying almost 2 million TEUs in May, 2.13 million TEUs in June and just under 2.2 million TEUs in July. That’s up from 1.6 million TEUs, 1.98 million TEUs, and 2 million TEUs, respectively, in May–July 2025. Carriers are also blanking less capacity, according to eeSea: 207,797 TEUs in May, 117,403 TEUs in June, and 50,969 TEUs in July. That compares with 472,948 TEUs, 249,745 TEUs, and 239,573 TEUs, respectively, in the same period last year. The GPT forecasts imports at 13 US ports: Los Angeles, Long Beach, Oakland, Seattle, Tacoma, New York/New Jersey, Virginia, Charleston, Savannah, Port Everglades, Miami, Jacksonville and Houston. Contact Kevin Saville at kevin.saville2@spglobal.com . Contact Bill Mongelluzzo at  bill.mongelluzzo@spglobal.com .

Port News

Trans-Pacific

Supply chain

North American ports

Container Shipping News

Weak consumer confidence, rising inflation dim peak season hopes

<div class="phx-topic abstract-wrapper">FMCSA set a May 14 deadline for carriers and brokers to update their registration information before switching to “Motus,” a system that includes ID verification tools. </div>

FMCSA set a May 14 deadline for carriers and brokers to update their registration information before switching to “Motus,” a system that includes ID verification tools.

<div class="phx-topic">The US Department of Transportation (DOT) is nearly ready to throw the switch on “Motus,” <a href="https://www.fmcsa.dot.gov/newsroom/important-steps-you-must-take-prepare-fmcsas-new-registration-system">a new registration system</a> for trucking companies and freight brokers and forwarders. The DOT is encouraging hundreds of thousands of registered companies to go online and update their information by May 14, when the existing system will “go dark.” “We are modernizing the system and replacing decades-old systems, multiple systems,” Ken Riddle, director of the Office of Registration for the Federal Motor Carrier Safety Administration (FMCSA), told the Journal of Commerce Friday. That includes the Unified Registration System (URS) introduced in 2015 for new motor carrier registrants. For the first time, the new registration system introduces identity verification methods for individuals and businesses aimed at preventing fraud and weeding out “chameleon” carriers that shut down and reopen under new names to avoid penalties and continue operations. Motus will apply to all existing registrants as well as new companies. “We’re asking existing companies to go into their <a href="https://portal.fmcsa.dot.gov/login">FMCSA Portal account</a>, make sure it’s active and update their information,” Riddle said. Going forward, only the company official specifically identified with the account will be able to access the system, and he or she will have to verify their identity, Riddle said. Motus also will replace the FMCSA Portal. <h3>Helping prevent fraud </h3>The FMCSA began implementing Motus in December, making the system available to companies such as process agents and insurers representing motor carriers. The May 14 transition begins “Phase II” of Motus implementation, Riddle said. For companies that miss the deadline, “I’m concerned they’ll have to wait in a long line,” he said. Motus will not only help FMCSA clean up its registration rolls but willalso make it harder for fraudulent companies to operate. The agency contracted with technology-based secure transaction and identity verification firms IDEMIA and CLEAR to verify both personal and business identities of existing and new registrations accessing Motus. “IDEMIA is the same company that verifies IDs at all our airports,” Riddle said. “During the verification process, you’ll scan a QR code that will send you to their ID process — that’s step one. Step two is business verification with CLEAR, which will look at company names, EIN [employer identification numbers], and addresses to ensure they match. “When you go through all that, you will get verification codes you must enter to get into the system, so there are a number of steps that will help us reduce fraud,” he added. “I won’t go so far as to say it will prevent fraud, but it will help.” Riddle said he expects the new system to be online early in the week of May 18. Contact William B. Cassidy at <a href="mailto:bill.cassidy@spglobal.com">bill.cassidy@spglobal.com</a>. </div>

The US Department of Transportation (DOT) is nearly ready to throw the switch on “Motus,” a new registration system for trucking companies and freight brokers and forwarders. The DOT is encouraging hundreds of thousands of registered companies to go online and update their information by May 14, when the existing system will “go dark.” “We are modernizing the system and replacing decades-old systems, multiple systems,” Ken Riddle, director of the Office of Registration for the Federal Motor Carrier Safety Administration (FMCSA), told the Journal of Commerce Friday. That includes the Unified Registration System (URS) introduced in 2015 for new motor carrier registrants. For the first time, the new registration system introduces identity verification methods for individuals and businesses aimed at preventing fraud and weeding out “chameleon” carriers that shut down and reopen under new names to avoid penalties and continue operations. Motus will apply to all existing registrants as well as new companies. “We’re asking existing companies to go into their FMCSA Portal account , make sure it’s active and update their information,” Riddle said. Going forward, only the company official specifically identified with the account will be able to access the system, and he or she will have to verify their identity, Riddle said. Motus also will replace the FMCSA Portal. Helping prevent fraud The FMCSA began implementing Motus in December, making the system available to companies such as process agents and insurers representing motor carriers. The May 14 transition begins “Phase II” of Motus implementation, Riddle said. For companies that miss the deadline, “I’m concerned they’ll have to wait in a long line,” he said. Motus will not only help FMCSA clean up its registration rolls but willalso make it harder for fraudulent companies to operate. The agency contracted with technology-based secure transaction and identity verification firms IDEMIA and CLEAR to verify both personal and business identities of existing and new registrations accessing Motus. “IDEMIA is the same company that verifies IDs at all our airports,” Riddle said. “During the verification process, you’ll scan a QR code that will send you to their ID process — that’s step one. Step two is business verification with CLEAR, which will look at company names, EIN [employer identification numbers], and addresses to ensure they match. “When you go through all that, you will get verification codes you must enter to get into the system, so there are a number of steps that will help us reduce fraud,” he added. “I won’t go so far as to say it will prevent fraud, but it will help.” Riddle said he expects the new system to be online early in the week of May 18. Contact William B. Cassidy at bill.cassidy@spglobal.com .

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<div class="phx-topic abstract-wrapper">Khor Fakkan and Fujairah in the UAE and Sohar in Oman had kept carriers restricted to imports since the war began due to severe yard space and cargo evacuation constraints. </div>

Khor Fakkan and Fujairah in the UAE and Sohar in Oman had kept carriers restricted to imports since the war began due to severe yard space and cargo evacuation constraints.

<div class="phx-topic">Terminals at alternative ports of call in the Persian Gulf have reopened gates to outbound freight flows, albeit slowly, market sources say. The ports — Khor Fakkan and Fujairah in the United Arab Emirates (UAE) and Sohar in Oman — had kept container carriers restricted to import discharges since the Middle East war began due to severe yard space and cargo evacuation constraints. The ports have been the supply chain lifeline for Middle East-bound shipments since the Middle East war erupted Feb. 28. But contingency port operations effectively meant a “single leg” cargo opportunity for vessel operators as they were not allowed to pick up boxes on the backhaul in order to avoid longer berth stays. Multiple Dubai-based freight forwarder executives who spoke with the Journal of Commerce confirmed that a few mainliners, notably CMA CGM, and other major feeder operators, usually backed by non-vessel-operating common carriers (NVOs), are now moving Middle East-origin containers into India. “Although uneven and dependent on the space situation, export gate-ins have resumed,” said a source who didn’t want to be identified. CMA CGM has regular weekly sailings connecting three western Indian ports — Hazira, Mundra and Nhava Sheva — to Fujairah and Sohar under its “BIGEX” network. The French carrier is also understood to have evacuated most Middle East-bound containers rerouted to Nhava Sheva, including accumulated hazardous/dangerous cargo boxes <a href="https://www.joc.com/article/rerouted-middle-east-hazmat-containers-spark-safety-concerns-at-indian-ports-6208692">that had sparked safety concerns for the port authority</a>. Middle East ports traditionally play a major role for carriers in repositioning empty containers to demand locations, including India. With the renewed operational flexibility, CMA CGM has been able to relocate accumulated empties via Fujairah into Nhava Sheva to replenish its tightening inventory capacity in India. While the Middle East disruption strained carriers’ inventory cycles, weaker export demand from India prevented any sort of industrywide equipment imbalance issues, local sources said. <h3>CMA CGM, AD Ports ink logistics deal </h3>Meanwhile, CMA CGM has reached an agreement with AD Ports Group to work together on intermodal logistics solutions across the UAE to neighboring countries. The move comes as demand for multimodal/land bridge alternatives continues to grow in the region. “The collaboration will explore opportunities to strengthen cargo flows across the UAE and regional markets, including the northern Emirates, whilst extending trade corridor optionality through rail-linked inland connectivity to the borders of ... Oman and ... Saudi Arabia,” the partners said in a joint statement. Through its CMA Terminals subsidiary, the Marseille-based carrier already has a terminal joint venture with AD Ports at Khalifa Port in Abu Dhabi. Contact Bency Mathew at <a href="mailto:bencyvmathew@gmail.com">bencyvmathew@gmail.com</a>. </div>

Terminals at alternative ports of call in the Persian Gulf have reopened gates to outbound freight flows, albeit slowly, market sources say. The ports — Khor Fakkan and Fujairah in the United Arab Emirates (UAE) and Sohar in Oman — had kept container carriers restricted to import discharges since the Middle East war began due to severe yard space and cargo evacuation constraints. The ports have been the supply chain lifeline for Middle East-bound shipments since the Middle East war erupted Feb. 28. But contingency port operations effectively meant a “single leg” cargo opportunity for vessel operators as they were not allowed to pick up boxes on the backhaul in order to avoid longer berth stays. Multiple Dubai-based freight forwarder executives who spoke with the Journal of Commerce confirmed that a few mainliners, notably CMA CGM, and other major feeder operators, usually backed by non-vessel-operating common carriers (NVOs), are now moving Middle East-origin containers into India. “Although uneven and dependent on the space situation, export gate-ins have resumed,” said a source who didn’t want to be identified. CMA CGM has regular weekly sailings connecting three western Indian ports — Hazira, Mundra and Nhava Sheva — to Fujairah and Sohar under its “BIGEX” network. The French carrier is also understood to have evacuated most Middle East-bound containers rerouted to Nhava Sheva, including accumulated hazardous/dangerous cargo boxes that had sparked safety concerns for the port authority . Middle East ports traditionally play a major role for carriers in repositioning empty containers to demand locations, including India. With the renewed operational flexibility, CMA CGM has been able to relocate accumulated empties via Fujairah into Nhava Sheva to replenish its tightening inventory capacity in India. While the Middle East disruption strained carriers’ inventory cycles, weaker export demand from India prevented any sort of industrywide equipment imbalance issues, local sources said. CMA CGM, AD Ports ink logistics deal Meanwhile, CMA CGM has reached an agreement with AD Ports Group to work together on intermodal logistics solutions across the UAE to neighboring countries. The move comes as demand for multimodal/land bridge alternatives continues to grow in the region. “The collaboration will explore opportunities to strengthen cargo flows across the UAE and regional markets, including the northern Emirates, whilst extending trade corridor optionality through rail-linked inland connectivity to the borders of ... Oman and ... Saudi Arabia,” the partners said in a joint statement. Through its CMA Terminals subsidiary, the Marseille-based carrier already has a terminal joint venture with AD Ports at Khalifa Port in Abu Dhabi. Contact Bency Mathew at bencyvmathew@gmail.com .

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