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OOCL posts strong Q3 revenue growth despite volume, rate declines

Rates and volume on the major trade lanes out of Asia fell during the third quarter, but not enough to slow OOCL’s revenue growth.

Strike-hit Port of Liverpool to cut jobs amid volume drop

Container throughput at Liverpool has fallen, and with the decline in volume expected to continue through the year the port is planning to cut its headcount.

Peak season hopes fade for ‘jumpy’ air cargo market

Demand for air cargo declined through September, and analysts say there is nothing in their data to indicate a pickup in volume out of Asia through the balance of the year.

Glut of new ocean tonnage inbound as global demand weakens

More than 5 million TEU of ordered container shipping capacity will be delivered over the next two years, outstripping demand as the global economic outlook darkens.

USDOT grants $39 million to fund port projects

Of the 12 projects the US Department of Transportation is funding, 11 will receive support for developing container-on-barge services.

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Ocean carriers cut trans-Pac services as blank sailings fail to stem rate slide

Major carriers and smaller liners are consolidating and halting trans-Pacific services amid a sharp drop in spot freight rates that hasn’t been cured by blank sailings.

Carriers pivot on the fly as Asia–US spot rates plummet

Spot rates in the eastbound trans-Pacific are dropping so quickly — and by such large amounts — that industry analysts warn carriers could soon be carrying containers at a loss.

Air freight rates tumble as demand weakens, capacity rises

Spot rates on some air cargo routes out of Asia have fallen below long-term contract levels, mirroring the development in ocean shipping.

Asia–Europe ocean contracts under pressure as rates tumble

Spot rates on the Asia–North Europe trade lane have now fallen 50 percent since January as softening demand and worsening economic indicators lead to a steady slowdown of the container shipping market.

COVID-19 gives rise to new risk calculus for supply chains

The legacy of the pandemic’s effect on supply chains will be less about permanent cost increases and more about permanently altered attitudes towards risk, writes JOC’s Peter Tirschwell.

JOC Shipping & Logistics Pricing Hub

The pricing data found here allows shippers and transport providers to more accurately benchmark and forecast for their supply chains. The various spot prices and indices are collected from third-party sources and updated weekly, monthly and quarterly, depending on the data set.

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Maritime News

OOCL posts strong Q3 revenue growth despite volume, rate declines

Trans-Pacific volume handled by OOCL was down sharply in the third quarter. Photo credit: Shutterstock.com.

Rates and volume on the major trade lanes out of Asia fell during the third quarter, but not enough to slow OOCL’s revenue growth.

Glut of new ocean tonnage inbound as global demand weakens

Congestion is easing in many ports around the world, releasing capacity back into the market even as demand slows. Photo credit: Shutterstock.com.

More than 5 million TEU of ordered container shipping capacity will be delivered over the next two years, outstripping demand as the global economic outlook darkens.

Maersk’s green methanol orderbook hits 19 vessels

Maersk’s green methanol-powered fleet will generate annual CO2 emissions savings of about 2.3 million tonnes, the carrier believes. Photo credit: Maersk.

Maersk has pledged to replace older tonnage only with green fuel–compliant ships, and with the latest order for six vessels the carrier has more than 300,000 TEU of dual-fuel capacity on its orderbook.

Hapag-Lloyd makes $1 billion Latin American terminal takeover

Terminal Portuario de Guayaquil in Ecuador is a major regional player in the fruit shipping business. Photo credit: SAAM.

While rivals make huge investments in end-to-end logistics, Hapag-Lloyd’s strategy is to retain a core focus on container transport and the expansion of its global terminal footprint.

Trucking News

Trucking Logistics

Ian recovery will exacerbate Florida truckload rate imbalance: analyst

While the ultimate cost of Ian may approach Hurricane Harvey’s 2017 toll, it is important to keep in mind that freight markets are currently in a different state than five years ago, notes analyst Jason Miller. Photo credit: Shutterstock.com.

The long recovery from Hurricane Ian will drive up the ratio of Florida inbound and outbound loads, pushing up southbound truckload spot rates while relief supplies flood the state, writes JOC analyst Jason Miller.

Overhaul wades into insurance technology market

Overhaul, which raised $35 million in funding in July 2021, serves shippers and logistics services providers with a platform that helps them manage cargo security and risk. Photo credit: Shutterstock.com.

Overhaul has joined a growing group of visibility providers aiming to connect real-time shipment data to cargo insurance solutions.

US truck shippers rethinking spot strategy: analysts

DAT Freight & Analytics finds more shippers are including spot pricing and brokers in contractual routing guides. Photo credit: Shutterstock.com.

More shippers are returning to the truckload spot market as rates drop, but experts say they’re using that market more strategically than ever before to reduce transportation costs.

LTL industry wrestles with next stage of technology development

Less-than-truckload experts at the JOC Inland Distribution Conference last week cited dynamic pricing and electronic documentation as key aspirations for the industry to work toward. Photo credit: Shutterstock.com.

The less-than-truckload industry is reaching its technology inflection point, which it will need to capture rising demand from shippers seeking operators that are easy to do business with.

Port News

Strike-hit Port of Liverpool to cut jobs amid volume drop

Worsening economic conditions and slowing demand are hurting Liverpool port volume. Photo credit: Shutterstock.com.

Container throughput at Liverpool has fallen, and with the decline in volume expected to continue through the year the port is planning to cut its headcount.

Houston eyes long-dwell fee for imports as shippers shun Saturday gates

Houston has seen its Asian import volumes grow faster than its overall container volume. Photo credit: Port Houston.

The Port of Houston is weighing whether to hit shippers with an additional fee if they let their import containers dwell for excessively long periods as terminal space remains tight.

California trucking interests have high hopes for new D&D law

California’s AB 2406 law updates 2005 legislation that trucking interests say is no longer effective in today’s environment of port-related supply-chain disruptions. Photo credit: Shutterstock.com.

New detention and demurrage legislation in California will protect cargo interests, truckers, and freight intermediaries from some charges they say are unjust.

NY-NJ readies revised fee plan for long-dwelling empties

Ocean carriers are stepping up the number of empty sweepers calling NY-NJ in October. Photo credit: PANYNJ.

The Port of New York and New Jersey is close to releasing a revamped tariff that recalculates how it will levy a $100-per-container fee on ocean carriers who let empty boxes linger.

Technology News

Technology

Altana lands big investment to map global supplier networks

Altana CEO Evan Smith has described its mission as supplying a view of supplier networks that’s as real-time and comprehensive as Google Maps is for road traveling. Photo credit: Shutterstock.com.

Supplier risk is becoming a bigger hurdle for shippers, notably around forced labor regulations, prompting venture capital firms to plunge $100 million into technology provider Altana.

Overhaul wades into insurance technology market

Overhaul has joined a growing group of visibility providers aiming to connect real-time shipment data to cargo insurance solutions.

LTL industry wrestles with next stage of technology development

The less-than-truckload industry is reaching its technology inflection point, which it will need to capture rising demand from shippers seeking operators that are easy to do business with.

SAP-led insurance solution taps Nexxiot for container tracking devices

Nexxiot was one of two vendors chosen in April to eventually outfit every container in Hapag-Lloyd's global fleet. Photo credit: Shutterstock.com.

A trio of technology providers want to give shippers the ability to tie sensor-based container data to in-transit cargo insurance decisions.

Breakbulk News

Breakbulk

Ro/ro surge driving new investment by carriers

The Wallenius Wilhelmsen Talisman discharging project cargo on a mafi trailer in Melbourne, Australia. Photo credit: Wallenius Wilhelmsen.

Recovering automobile exports and demand for high and heavy cargo are driving a ro/ro resurgence and a spate of new ship orders.

Georgia Ports Authority adds Nissan to OEM roster

A Wallenius Wilhelmsen vessel discharging ro/ro cargo at the Port of Brunswick, Georgia. Photo credit: Georgia Ports Authority.

US auto imports slid 8 percent during the first seven months of 2022, reflecting supply chain snarls, even as high and heavy imports gained steam.

Investors skittish on ordering new MPV/HL ships despite strong cargo demand

Average prices for a new 30,000-dwt geared MPV have ballooned from $41 million in 2015 to $53 million in 2022. Photo credit: dship Carriers.

MPV/HL ships could be harder to find in coming years as carriers have difficulty finding funding for new ship orders, despite strong demand and higher rates than they have been able to command for years.

Ship orders defy declining reefer fleet trend

A stevedore working palletized cargo in the hold of a reefer vessel. Photo credit: Murphy/Irish Shipbrokers.

A handful of reefer carriers, having received an unexpected shot in the arm during the pandemic, are adding vessel capacity despite the long-term decline of this niche fleet.

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