Restrictions to East Coast service extended amid port congestion

East Coast congestion continues to be a concern for carriers as more West Coast volumes are diverted, slowing cargo flow at East and Gulf coast ports.

HMM expects ‘highly volatile’ Q3 after H1 net profit surges to $4.6 billion

HMM said it would tackle the coming market uncertainty by focusing on long-term shipper contracts and increasing the volume of reefer and special cargoes. looks to turn the page on Kirchner era with new leadership’s widely reported payroll woes and the departure of its CEO last week have had a minor impact on the broader logistics industry due to the technology provider’s relatively small customer base.

MPV/HL charter rates may have peaked, but no crash ahead: analysts

Easing container congestion and the summer “doldrums” have sent MPV rates drifting downward, but carriers expect energy-related demand and tight capacity to keep the sector healthy in the long term.

UP giving partial rebates for Lathrop–Oakland shift

Union Pacific Railroad will issue a partial rebate on intermodal loads in Northern California to help defray the cost of moving boxes between Lathrop to Oakland starting next month.

Essential Reads

The steep reduction in rail services to Los Angeles-Long Beach is having a knock-on impact at the terminal gates, with the average truck turn time increasing by four minutes in July.
Maersk’s strategy of aggressively expanding long-term contracts is paying off, and with many of the agreements covering multi-years, the carrier is set to reap the financial rewards far beyond 2022.
Drivers are returning to port drayage as long-haul trucking rates slide and operating costs for small, independent motor carriers rise.
Despite the FMC finding there was no collusion among ocean shipping alliances causing elevated freight rates, NITL believes there are still concerns about the industry that new antitrust legislation could address.
The reorganization within the FMC comes as the agency steps up its enforcement and compliance activities in the wake of US shipping reform.