<div class="phx-topic abstract-wrapper">Evergreen Line, “K” Line, Dubai-based Simatech Shipping and South Korea’s STX Pan Ocean expanded their joint intra-Asia liner service...</div>

Evergreen Line, “K” Line, Dubai-based Simatech Shipping and South Korea’s STX Pan Ocean expanded their joint intra-Asia liner service...

<div>Evergreen Line, “K” Line, Dubai-based Simatech Shipping and South Korea’s STX Pan Ocean expanded their joint intra-Asia liner service by adding a direct call at Laem Chabang, Thailand.The four ocean carriers operate the CIX2/CISC service with five vessels, ranging in capacity from 3,400 to 4,400 20-foot-equivalent units.A “K” Line vessel, the Alexandria Bridge, initiated the upgraded service, departing from Laem Chabang on Nov. 22.The enhanced port rotation is Xingang and Qingdao, China; Laem Chabang, Thailand; Singapore; Tanjung Pelepas and Port Kelang, Malaysia; Nhava Sheva (Jawaharlal Nehru), India; Colombo, Sri Lanka; Port Kelang; Tanjung Pelepas; Singapore; and Xingang.The joint service offers...

Evergreen Line, “K” Line, Dubai-based Simatech Shipping and South Korea’s STX Pan Ocean expanded their joint intra-Asia liner service by adding a direct call at Laem Chabang, Thailand. The four ocean carriers operate the CIX2/CISC service with five vessels, ranging in capacity from 3,400 to 4,400 20-foot-equivalent units. A “K” Line vessel, the Alexandria Bridge, initiated the upgraded service, departing from Laem Chabang on Nov. 22. The enhanced port rotation is Xingang and Qingdao, China; Laem Chabang, Thailand; Singapore; Tanjung Pelepas and Port Kelang, Malaysia; Nhava Sheva (Jawaharlal Nehru), India; Colombo, Sri Lanka; Port Kelang; Tanjung Pelepas; Singapore; and Xingang. The joint service offers an 11-day transit from Laem Chabang to Nhava Sheva, India’s largest container port. The consortium’s move is designed to cater to the growing trade demand within the intra-Asia region.

Container lines

Carriers Add Laem Chabang, Thailand, to Intra-Asia Loop

<div class="phx-topic abstract-wrapper">Still, the company’s CFO cautioned that no one should “get out over their skis” from the standpoint of freight recovery expectations.</div>

Still, the company’s CFO cautioned that no one should “get out over their skis” from the standpoint of freight recovery expectations.

Feature image

<div class="phx-topic">Old Dominion Freight Lines (ODFL), one of the top US less-than-truckload (LTL) carriers, is “cautiously optimistic” about 2026 despite a decline in fourth quarter revenue and volume, the company said Wednesday. The carrier believes the US economy and freight demand were showing signs of growth late in the fourth quarter, and that those trends continued through January. “We are better positioned than any other carrier to capitalize on an improving economy,” ODFL CEO Marty Freeman said during the company’s Q4 earnings call. “We’ve seen some positive signs that we’ve been really pleased with over the past couple of months that have been developing and then the release this week of the ISM, was certainly very positive to see and maybe is an indication of how things will be hopefully for the rest of the year.” The ISM, or Institute for Supply Chain Management, reported a manufacturing index of 52.6 for January, up from 47.9 in December. Any figure above 50 indicates economic expansion, but the index had failed to do so for 26 consecutive months until last month. A manufacturing index greater than 47.5 over several months generally indicates an expansion of the overall economy, according to the ISM. Industrial freight is more likely to move via LTL, reflecting its higher density and lower cubic footprint. Retail shipments, by contrast, tend to be lighter and more voluminous, often filling a trailer before reaching weight limits. ODFL said its shippers have also begun to feel more optimistic. “We’ve had feedback that inventories are generally lower, and we are going to see some inventory replenishment,” Freeman said. “We move everything including the kitchen sink, so you got housing starts improving, you’ll (have) things like faucets and so forth with increased demand there.” ODFL CFO Adam Satterfield added that shippers have said that increased consumer confidence and buying patterns will eventually result in higher overall LTL demand and volume. “We've had some really good customer conversations in the sense of what they were anticipating their volumes might look like and the amount of business that they would tender to us,” he said on the call. “Then inventory needs to be replenished and those will all be good things that will find its way onto our trucks.” <h3>Q4 revenue down </h3>Total revenue for ODFL declined 5.7% year over year to nearly $1.3 billion in the fourth quarter. The company said the decrease was primarily due to a 10.7% decline in LTL tons per day. However, revenue per hundredweight – i.e. the revenue per 100 pounds of freight – rose 5.6% year over year, suggesting ODFL raised rates on shippers to grow its margins, sacrificing volume to do so. Satterfield said ODFL is well-positioned to take advantage of the freight recovery when it happens because it has maintained what the company called “cost discipline in a challenging environment.” ODFL closed the year with 21,304 full-time employees, down 5.4% year over year, and it still has excess capacity to absorb a surge in freight. Satterfield said ODFL is flexible enough to handle “significant volume growth” without disruption, which has caused the LTL carrier to win market share in previous freight rebounds. ”We’re definitely prepared for the upcycle,” he said. “We’ve got a little over 35% capacity in our service center network. We’re handling a little over 40,000 shipments per day right now and our network is built to handle more like 55,000 and even more.” Still, Satterfield cautioned that no one should “get out over their skis” from the standpoint of recovery expectations. “It remains to be seen if this really is going to lead into that spring surge that we would typically see,” he said. “We certainly feel like the stars are coming into alignment, but we felt that way before, and in particular about February and March of last year. So that's why we continue to say we're cautiously optimistic about how things might develop for this year." Contact Dan Ronan at <a href="mailto:contactdanronan@gmail.com">contactdanronan@gmail.com.</a></div>

Old Dominion Freight Lines (ODFL), one of the top US less-than-truckload (LTL) carriers, is “cautiously optimistic” about 2026 despite a decline in fourth quarter revenue and volume, the company said Wednesday. The carrier believes the US economy and freight demand were showing signs of growth late in the fourth quarter, and that those trends continued through January. “We are better positioned than any other carrier to capitalize on an improving economy,” ODFL CEO Marty Freeman said during the company’s Q4 earnings call. “We’ve seen some positive signs that we’ve been really pleased with over the past couple of months that have been developing and then the release this week of the ISM, was certainly very positive to see and maybe is an indication of how things will be hopefully for the rest of the year.” The ISM, or Institute for Supply Chain Management, reported a manufacturing index of 52.6 for January, up from 47.9 in December. Any figure above 50 indicates economic expansion, but the index had failed to do so for 26 consecutive months until last month. A manufacturing index greater than 47.5 over several months generally indicates an expansion of the overall economy, according to the ISM. Industrial freight is more likely to move via LTL, reflecting its higher density and lower cubic footprint. Retail shipments, by contrast, tend to be lighter and more voluminous, often filling a trailer before reaching weight limits. ODFL said its shippers have also begun to feel more optimistic. “We’ve had feedback that inventories are generally lower, and we are going to see some inventory replenishment,” Freeman said. “We move everything including the kitchen sink, so you got housing starts improving, you’ll (have) things like faucets and so forth with increased demand there.” ODFL CFO Adam Satterfield added that shippers have said that increased consumer confidence and buying patterns will eventually result in higher overall LTL demand and volume. “We've had some really good customer conversations in the sense of what they were anticipating their volumes might look like and the amount of business that they would tender to us,” he said on the call. “Then inventory needs to be replenished and those will all be good things that will find its way onto our trucks.” Q4 revenue down Total revenue for ODFL declined 5.7% year over year to nearly $1.3 billion in the fourth quarter. The company said the decrease was primarily due to a 10.7% decline in LTL tons per day. However, revenue per hundredweight – i.e. the revenue per 100 pounds of freight – rose 5.6% year over year, suggesting ODFL raised rates on shippers to grow its margins, sacrificing volume to do so. Satterfield said ODFL is well-positioned to take advantage of the freight recovery when it happens because it has maintained what the company called “cost discipline in a challenging environment.” ODFL closed the year with 21,304 full-time employees, down 5.4% year over year, and it still has excess capacity to absorb a surge in freight. Satterfield said ODFL is flexible enough to handle “significant volume growth” without disruption, which has caused the LTL carrier to win market share in previous freight rebounds. ”We’re definitely prepared for the upcycle,” he said. “We’ve got a little over 35% capacity in our service center network. We’re handling a little over 40,000 shipments per day right now and our network is built to handle more like 55,000 and even more.” Still, Satterfield cautioned that no one should “get out over their skis” from the standpoint of recovery expectations. “It remains to be seen if this really is going to lead into that spring surge that we would typically see,” he said. “We certainly feel like the stars are coming into alignment, but we felt that way before, and in particular about February and March of last year. So that's why we continue to say we're cautiously optimistic about how things might develop for this year." Contact Dan Ronan at contactdanronan@gmail.com.

Trucking News

Surface

ODFL ‘cautiously optimistic’ about LTL demand despite lackluster Q4

<div class="phx-topic abstract-wrapper">The decision by the Panama Supreme Court has provoked angry responses from both the Chinese and Hong Kong governments, with Beijing warning that Panama would “pay a heavy price both politically and economically.”</div>

The decision by the Panama Supreme Court has provoked angry responses from both the Chinese and Hong Kong governments, with Beijing warning that Panama would “pay a heavy price both politically and economically.”

<div class="phx-topic">Panama Ports Company is seeking “extensive damages” after launching arbitration proceedings against the government of Panama following the decision of the country’s Supreme Court last week to void the company’s concessions to operate the Cristobal and Balboa ports. PPC had held the concessions for 28 years. The port company, 90% controlled by Hutchison Port Holdings, a subsidiary of Hong Kong-listed conglomerate CK Hutchison, said Wednesday the Panamanian government has already started to take control of the terminals that bookend the Panama Canal even though the court decision has yet to be published and finalized. “The steps taken by the state have included unexpected site visits and instructions that PPC provide unrestricted access to physical, commercial, and intellectual property and information, as well as to employees, on the basis that the state is systematizing and executing a port transition plan through coordinated actions of state authorities,” PPC said in a statement. APM Terminals, which was appointed by the Panama Maritime Authority <a href="https://www.joc.com/article/apmt-to-run-hutchisons-panama-terminals-on-interim-basis-after-court-ruling-6161534">as interim administrator of the two terminals a day after the court’s decision</a>, would not comment on whether it had taken part in the site visits or other actions following the court ruling. “At this moment, we have no further comments to share other than what we have released on our website,” an APMT spokesperson said. “For any next steps we refer to the relevant authorities in Panama.” CK Hutchison on Wednesday said it “continues to consult with its legal counsel and reserves all rights, including recourse to additional national and international legal proceedings.” <h3>Beijing says Panama will ‘pay a heavy price’ </h3>The Supreme Court decision can only be delayed, not overturned, and legal proceedings like those launched by PPC can linger for years and often go nowhere. The move appears to be more of an effort by Hutchison to show investors that it’s exhausting all options even if there’s no path forward. The decision by the Panamanian court has provoked an angry response from both the Chinese and Hong Kong governments, with Beijing’s Hong Kong and Macao Affairs Office warning Panama would “pay a heavy price both politically and economically.” The Hong Kong government said the Panama government “should respect the spirit of contracts and provide a fair and just business environment for companies operating legally there, ensuring that the legitimate rights of enterprises are free from any interference.” Interestingly, in a separate case, a ruling three years ago by Panama’s Supreme Court resulted in the closure of a major copper mine in the country, though there seems to be <a href="https://nam11.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.msn.com%2Fen-us%2Fmoney%2Fother%2Fpanama-and-canada-are-caught-in-a-dispute-over-a-copper-mine%2Far-AA1UL4T1%3Focid%3DBingNewsSerp&amp;data=05%7C02%7Ckevin.saville2%40spglobal.com%7C4a5fd62251cd4285f25808de63f3221d%7C8f3e36ea80394b4081a77dc0599e8645%7C1%7C0%7C639058093052350394%7CUnknown%7CTWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIjoiTWFpbCIsIldUIjoyfQ%3D%3D%7C0%7C%7C%7C&amp;sdata=8gpwQrSg12fJdYx5%2FwrCwv4DiH9wtV%2B7213f6JROaOE%3D&amp;reserved=0">developments underway that could result in the mine’s reopening</a>. Contact Keith Wallis at <a href="mailto:keithwallis@hotmail.com">keithwallis@hotmail.com.</a></div>

Panama Ports Company is seeking “extensive damages” after launching arbitration proceedings against the government of Panama following the decision of the country’s Supreme Court last week to void the company’s concessions to operate the Cristobal and Balboa ports. PPC had held the concessions for 28 years. The port company, 90% controlled by Hutchison Port Holdings, a subsidiary of Hong Kong-listed conglomerate CK Hutchison, said Wednesday the Panamanian government has already started to take control of the terminals that bookend the Panama Canal even though the court decision has yet to be published and finalized. “The steps taken by the state have included unexpected site visits and instructions that PPC provide unrestricted access to physical, commercial, and intellectual property and information, as well as to employees, on the basis that the state is systematizing and executing a port transition plan through coordinated actions of state authorities,” PPC said in a statement. APM Terminals, which was appointed by the Panama Maritime Authority as interim administrator of the two terminals a day after the court’s decision , would not comment on whether it had taken part in the site visits or other actions following the court ruling. “At this moment, we have no further comments to share other than what we have released on our website,” an APMT spokesperson said. “For any next steps we refer to the relevant authorities in Panama.” CK Hutchison on Wednesday said it “continues to consult with its legal counsel and reserves all rights, including recourse to additional national and international legal proceedings.” Beijing says Panama will ‘pay a heavy price’ The Supreme Court decision can only be delayed, not overturned, and legal proceedings like those launched by PPC can linger for years and often go nowhere. The move appears to be more of an effort by Hutchison to show investors that it’s exhausting all options even if there’s no path forward. The decision by the Panamanian court has provoked an angry response from both the Chinese and Hong Kong governments, with Beijing’s Hong Kong and Macao Affairs Office warning Panama would “pay a heavy price both politically and economically.” The Hong Kong government said the Panama government “should respect the spirit of contracts and provide a fair and just business environment for companies operating legally there, ensuring that the legitimate rights of enterprises are free from any interference.” Interestingly, in a separate case, a ruling three years ago by Panama’s Supreme Court resulted in the closure of a major copper mine in the country, though there seems to be developments underway that could result in the mine’s reopening . Contact Keith Wallis at keithwallis@hotmail.com.

Port News

Marine terminals

International ports

Container Shipping News

Maritime

Panama Ports seeks ‘extensive damages’ after terminal concessions canceled

<div class="phx-topic abstract-wrapper">Spot intermodal savings reached record levels in the fourth quarter, but railroads might hold back on raising rates as the disruptive winter weather has skewed trucking rates. </div>

Spot intermodal savings reached record levels in the fourth quarter, but railroads might hold back on raising rates as the disruptive winter weather has skewed trucking rates.

<div class="phx-topic">US shippers saved 25.6% on spot market freight — a record— and 25.4% on contract loads in the fourth quarter by using domestic intermodal instead of long-haul trucking amid a rise in truckload spot rates, according to the latest Journal of Commerce <a href="https://www.joc.com/resources/special-reports/intermodal-savings-index">Intermodal Savings Index</a> (ISI). It’s the first time in the history of the ISI, dating back to 2016, that the spot market index was higher than the contract index. The driver was unusually frigid weather and snowstorms in the US in December that caused spot truckload rates to jump, while railroads have continued to keep spot market rates low. Railroads tend to lag truckload rates, jacking up pricing only after there is strong enough evidence that truckload markets have inflected toward motor carriers. Given the severe winter weather in January, it remains to be seen whether railroads take the opportunity to increase spot rates in the first quarter or hold back until normal weather conditions return and gauge the trucking market only then. North American railroads hauled 2.29 million domestic containers in the fourth quarter, up 2.2% compared with a year earlier, according to the Intermodal Association of North America (IANA). The results were slightly higher than the Journal of Commerce forecast of 2.26 million loads for the fourth quarter. There was an additional 1.5 working days in the fourth quarter compared with the same quarter of 2024, according to a Journal of Commerce calculation, which assigns weightings to each day of the week, and holidays, based on historical data from the US Surface Transportation Board. The Spot ISI averaged 125.6 in the fourth quarter, up from 120.2 a year earlier. The Contract ISI slipped to 125.4 from 126.4 a year earlier. Index values above 100 indicate intermodal is the more cost-effective mode; the higher the index number, the greater the savings. A spot ISI of 125.6 translates to a 25.6% savings on intermodal versus truckload, while a contract ISI of 125.4 implies a 25.4% savings. All calculations assume local drayage at origin and destination, so shippers with distribution centers more than 30 minutes from the terminal will save less than the index values. <div class="wrapper-narrow"><dynamic-object type="jocchartid" resource-id="9f0dff14-0731-4ad3-859c-d093757d1ed4"></dynamic-object></div>Per-mile rates show how the trucking market impacted results. Spot truckload rates jumped 20 cents to $2.15 per mile on indexed lanes between Sept. 30 and Dec. 31, while spot intermodal rates on the same lanes were unchanged. Contract truckload rates increased by a penny per mile during the quarter, while contract intermodal rates rose by a half-cent in the same period. In terms of raw dollars, intermodal shippers saved an average of $800 per container on the spot market in the fourth quarter compared with truckload, and $870 per container on the contract market. In the fourth quarter of 2024, the average spot intermodal load saved $700 per container, with the contract load saving $925 per container. <h3>Intermodal will follow truckload recovery </h3>Two of the top US domestic intermodal providers said the market did not turn around enough in the fourth quarter to give them pricing leverage, but it will once the truckload market rebounds. Based on past cycles, truckload spot markets tend to move first, followed by truckload contract rates, and then intermodal prices shift higher once shippers begin to feel capacity constraints or budget pressure. “[It’ll take] a little more time before we see intermodal prices catch up to what we expect in truckload,” said Mark Rourke, CEO of Schneider, on a Jan. 29 earnings call. Jim Filter, executive vice president of Schneider, said the company will capitalize on intermodal opportunities when the truckload market improves and “inventory levels are starting to be replenished.” The top US intermodal provider, J.B. Hunt, also did not call for an immediate rise in intermodal prices. “We’re a little bit hesitant to suggest that we think there’s some big pricing opportunity, but we will be quick to identify when we see the market shift,” Darren Field, president of J.B. Hunt’s intermodal division, said on a Jan. 15 earnings call. Shippers have told the Journal of Commerce that there are some minor rate increases on west-to-east rail freight, particularly originating in Southern California, but pricing remains flattish in other origins such as the Pacific Northwest and Mexico. Contact Ari Ashe at <a href="mailto:ari.ashe@spglobal.com">ari.ashe@spglobal.com</a>. The data behind the Contract ISI and Spot ISI is available to Journal of Commerce subscribers with a Gold-tier subscription. </div>

US shippers saved 25.6% on spot market freight — a record— and 25.4% on contract loads in the fourth quarter by using domestic intermodal instead of long-haul trucking amid a rise in truckload spot rates, according to the latest Journal of Commerce Intermodal Savings Index (ISI). It’s the first time in the history of the ISI, dating back to 2016, that the spot market index was higher than the contract index. The driver was unusually frigid weather and snowstorms in the US in December that caused spot truckload rates to jump, while railroads have continued to keep spot market rates low. Railroads tend to lag truckload rates, jacking up pricing only after there is strong enough evidence that truckload markets have inflected toward motor carriers. Given the severe winter weather in January, it remains to be seen whether railroads take the opportunity to increase spot rates in the first quarter or hold back until normal weather conditions return and gauge the trucking market only then. North American railroads hauled 2.29 million domestic containers in the fourth quarter, up 2.2% compared with a year earlier, according to the Intermodal Association of North America (IANA). The results were slightly higher than the Journal of Commerce forecast of 2.26 million loads for the fourth quarter. There was an additional 1.5 working days in the fourth quarter compared with the same quarter of 2024, according to a Journal of Commerce calculation, which assigns weightings to each day of the week, and holidays, based on historical data from the US Surface Transportation Board. The Spot ISI averaged 125.6 in the fourth quarter, up from 120.2 a year earlier. The Contract ISI slipped to 125.4 from 126.4 a year earlier. Index values above 100 indicate intermodal is the more cost-effective mode; the higher the index number, the greater the savings. A spot ISI of 125.6 translates to a 25.6% savings on intermodal versus truckload, while a contract ISI of 125.4 implies a 25.4% savings. All calculations assume local drayage at origin and destination, so shippers with distribution centers more than 30 minutes from the terminal will save less than the index values. Per-mile rates show how the trucking market impacted results. Spot truckload rates jumped 20 cents to $2.15 per mile on indexed lanes between Sept. 30 and Dec. 31, while spot intermodal rates on the same lanes were unchanged. Contract truckload rates increased by a penny per mile during the quarter, while contract intermodal rates rose by a half-cent in the same period. In terms of raw dollars, intermodal shippers saved an average of $800 per container on the spot market in the fourth quarter compared with truckload, and $870 per container on the contract market. In the fourth quarter of 2024, the average spot intermodal load saved $700 per container, with the contract load saving $925 per container. Intermodal will follow truckload recovery Two of the top US domestic intermodal providers said the market did not turn around enough in the fourth quarter to give them pricing leverage, but it will once the truckload market rebounds. Based on past cycles, truckload spot markets tend to move first, followed by truckload contract rates, and then intermodal prices shift higher once shippers begin to feel capacity constraints or budget pressure. “[It’ll take] a little more time before we see intermodal prices catch up to what we expect in truckload,” said Mark Rourke, CEO of Schneider, on a Jan. 29 earnings call. Jim Filter, executive vice president of Schneider, said the company will capitalize on intermodal opportunities when the truckload market improves and “inventory levels are starting to be replenished.” The top US intermodal provider, J.B. Hunt, also did not call for an immediate rise in intermodal prices. “We’re a little bit hesitant to suggest that we think there’s some big pricing opportunity, but we will be quick to identify when we see the market shift,” Darren Field, president of J.B. Hunt’s intermodal division, said on a Jan. 15 earnings call. Shippers have told the Journal of Commerce that there are some minor rate increases on west-to-east rail freight, particularly originating in Southern California, but pricing remains flattish in other origins such as the Pacific Northwest and Mexico. Contact Ari Ashe at ari.ashe@spglobal.com . The data behind the Contract ISI and Spot ISI is available to Journal of Commerce subscribers with a Gold-tier subscription.

Rail News

North-American rail

Intermodal providers

Spot intermodal savings spiked in Q4, but providers remain cautious

<div class="phx-topic abstract-wrapper">Multiple local sources told the Journal of Commerce the escalating unrest that entered its fifth day Wednesday has brought all port operations, including vessel berthing and cargo clearance, to a halt. </div>

Multiple local sources told the Journal of Commerce the escalating unrest that entered its fifth day Wednesday has brought all port operations, including vessel berthing and cargo clearance, to a halt. 

<div class="phx-topic">Mainline and feeder operators covering trades out of Bangladesh are reporting serious supply chain disruptions from near week-long strike action and protests by dockers and employees at Chittagong Port, the country's chief gateway. The workforce is pushing back against a recent government decision to hand over Chittagong’s busiest box terminal, the New Mooring Container Terminal (NCL), to DP World under a long-term lease deal. Multiple local sources told the Journal of Commerce the escalating unrest that entered its fifth day Wednesday has brought all port operations, including vessel berthing and cargo clearance, to a halt. “There is a full operational standstill at the moment and it’s going to be chaotic for some time even after resumption of services,” said a feeder line executive who did not want to be identified. <h3>Approximately 40 ships said to be at anchorage </h3>Mainline carriers, including Maersk and Ocean Network Express (ONE), have warned customers about potential shipping risks for their freight as the situation remains in a state of flux. “Operations within the port, including the movement of trucks between terminals, have been completely suspended,” a spokesperson for Maersk told the Journal of Commerce. “Maersk is closely monitoring the ongoing strike at Chittagong [Chattogram] Port and is in constant communication with the relevant port and government to understand the situation and its implications for cargo operations.” Maersk commands about 30% of Bangladeshi containerized trade, according to anecdotal industry data. Singapore-based ONE said in a customer advisory the deteriorating situation could hobble export and import trade through Chittagong, adding “it is keeping an eye on the developing port situation.” A Chittagong-based ship agent who spoke with the Journal of Commerce estimated the number of ships waiting at anchorage to enter the port at about 40 as of Wednesday afternoon local time and cargo stranded at the dock at approximately 10,000 TEUs. The agent also noted that off-dock storage yards are holding large export volumes as freight vehicles continue to accumulate in queues outside the port to drop off boxes. Chittagong handled 3.4 million TEUs in 2025, up 4% year over year, according to available data. Contact Bency Mathew at <a href="mailto:bencyvmathew@gmail.com">bencyvmathew@gmail.com</a>. </div>

Mainline and feeder operators covering trades out of Bangladesh are reporting serious supply chain disruptions from near week-long strike action and protests by dockers and employees at Chittagong Port, the country's chief gateway. The workforce is pushing back against a recent government decision to hand over Chittagong’s busiest box terminal, the New Mooring Container Terminal (NCL), to DP World under a long-term lease deal. Multiple local sources told the Journal of Commerce the escalating unrest that entered its fifth day Wednesday has brought all port operations, including vessel berthing and cargo clearance, to a halt. “There is a full operational standstill at the moment and it’s going to be chaotic for some time even after resumption of services,” said a feeder line executive who did not want to be identified. Approximately 40 ships said to be at anchorage Mainline carriers, including Maersk and Ocean Network Express (ONE), have warned customers about potential shipping risks for their freight as the situation remains in a state of flux. “Operations within the port, including the movement of trucks between terminals, have been completely suspended,” a spokesperson for Maersk told the Journal of Commerce. “Maersk is closely monitoring the ongoing strike at Chittagong [Chattogram] Port and is in constant communication with the relevant port and government to understand the situation and its implications for cargo operations.” Maersk commands about 30% of Bangladeshi containerized trade, according to anecdotal industry data. Singapore-based ONE said in a customer advisory the deteriorating situation could hobble export and import trade through Chittagong, adding “it is keeping an eye on the developing port situation.” A Chittagong-based ship agent who spoke with the Journal of Commerce estimated the number of ships waiting at anchorage to enter the port at about 40 as of Wednesday afternoon local time and cargo stranded at the dock at approximately 10,000 TEUs. The agent also noted that off-dock storage yards are holding large export volumes as freight vehicles continue to accumulate in queues outside the port to drop off boxes. Chittagong handled 3.4 million TEUs in 2025, up 4% year over year, according to available data. Contact Bency Mathew at bencyvmathew@gmail.com .

Longshore labor

Labor strike at Chittagong Port cripples Bangladesh container flows

<div class="phx-topic abstract-wrapper">Sources say sustained weak market fundamentals have caused this year to be atypical in terms of demand in the immediate run-up to Lunar New Year, which begins Feb. 17.</div>

Sources say sustained weak market fundamentals have caused this year to be atypical in terms of demand in the immediate run-up to Lunar New Year, which begins Feb. 17.

<div class="phx-topic">Softer spot rates, weak volume forecasts and poor consumer sentiment spell one thing in the tariff-weary trans-Pacific container market: The traditional pre-Lunar New Year rush of cargo is not happening in 2026. Sources say sustained weak market fundamentals have caused this year to be atypical in terms of demand in the immediate run-up to Lunar New Year, which begins Feb. 17. Factories in China will close for at least a week for the holiday, which normally causes a freight surge of some magnitude before the doors shut. But not this year. “I would say demand is muted. There’s still uncertainty among retailers about tariffs,” an ocean carrier executive told the Journal of Commerce. “There has already been frontloading of spring merchandise.” To the extent there was any so-called rush at all, even in January, it is “clearly behind us,” said Peter Sand, chief analyst for the rate benchmarking platform Xeneta. “[This year] is another year where supply growth exceeds demand growth,” Sand said. Downward movement in spot rates before the Lunar New Year factory closures is largely the result of the weak demand from retailers and other importers. North Asia to US West Coast spot rates that started January at $2,075 per FEU were at $1,900 as of Tuesday, according to Platts, a sister company of the Journal of Commerce within S&amp;P Global. Drewry had Shanghai-to-Los Angeles rates at $3,132 per FEU on Jan. 8, but those had fallen to $2,442 by month’s end. Shanghai-West Coast rates of $1,867 per FEU from the Shanghai Shipping Exchange as of Jan. 30 were down from $2,188 at the start of the month. According to all the indexes, current spot rates are about 50% lower than they were a year ago. <div class="wrapper-narrow"><dynamic-object type="jocchartid" resource-id="7f641553-97ec-4014-8e54-fef6408538d9"></dynamic-object></div>A forwarder who spoke with the Journal of Commerce noted that the lower listed spot rates this week are only part of the story. Carriers are continuing to offer discount rates, known as bullet or voyage-specific rates, that are as much as several hundred dollars lower than the posted spot/freight-all-kinds (FAK) rates. For example, some lines are offering bullet rates of $1,750 per FEU to the West Coast and $2,500 per FEU to the East Coast, and they are readily available to shippers. “It’s the bullet rates that are moving cargo,” the source said. That pricing structure would seem to indicate that retailers and other importers will have leverage entering annual service contract negotiations that are already underway and will pick up in intensity in early March following the Journal of Commerce’s TPM26 conference in Long Beach. <h3>Blank sailings accelerating </h3>Meanwhile, blank sailings, another demand barometer, are accelerating in February. Data from eeSea shows that carriers intend thus far to blank 206,835 TEUs of capacity this month on the Asia-to-West Coast trade, up from 107,318 TEUs in January. From Asia to the East and Gulf coasts, the blanks so far in February are at 96,881 TEUs, according to eeSea, up from 77,339 TEUs in January. “Carriers are blanking extensively in the weeks commencing Feb. 23 and March 2 in classic response to the lower exports out of China as a result of the CNY festive days,” Xeneta’s Sand said. <div class="wrapper-narrow"><dynamic-object type="jocchartid" resource-id="e5c8a2a0-9aa5-4787-bbed-bf4b7a9f9677"></dynamic-object></div>US retailers have already forecast weaker cargo volumes over the next three months. Global Port Tracker, published monthly by the National Retail Federation (NRF), forecasts that US imports in February will be down 4.6% from the same month a year earlier, with March imports down 12.6% and April down 8.1% from the year-earlier months. US import volumes are also impacted by the confidence of consumers to spend. According to the Conference Board, a think tank, the consumer confidence index fell to 84.5 in January, well below market expectations and the lowest reading since May 2014. “Confidence collapsed in January as consumer concerns about both the present situation and expectations for the future deepened,” said Dana Peterson, chief economist at the Conference Board. Contact Bill Mongelluzzo at <a href="mailto:bill.mongelluzzo@spglobal.com">bill.mongelluzzo@spglobal.com</a>.Contact Mark Szakonyi at <a href="https://www.joc.com/article/mark.szakonyi@spglobal.com">mark.szakonyi@spglobal.com</a>.</div>

Softer spot rates, weak volume forecasts and poor consumer sentiment spell one thing in the tariff-weary trans-Pacific container market: The traditional pre-Lunar New Year rush of cargo is not happening in 2026. Sources say sustained weak market fundamentals have caused this year to be atypical in terms of demand in the immediate run-up to Lunar New Year, which begins Feb. 17. Factories in China will close for at least a week for the holiday, which normally causes a freight surge of some magnitude before the doors shut. But not this year. “I would say demand is muted. There’s still uncertainty among retailers about tariffs,” an ocean carrier executive told the Journal of Commerce. “There has already been frontloading of spring merchandise.” To the extent there was any so-called rush at all, even in January, it is “clearly behind us,” said Peter Sand, chief analyst for the rate benchmarking platform Xeneta. “[This year] is another year where supply growth exceeds demand growth,” Sand said. Downward movement in spot rates before the Lunar New Year factory closures is largely the result of the weak demand from retailers and other importers. North Asia to US West Coast spot rates that started January at $2,075 per FEU were at $1,900 as of Tuesday, according to Platts, a sister company of the Journal of Commerce within S&P Global. Drewry had Shanghai-to-Los Angeles rates at $3,132 per FEU on Jan. 8, but those had fallen to $2,442 by month’s end. Shanghai-West Coast rates of $1,867 per FEU from the Shanghai Shipping Exchange as of Jan. 30 were down from $2,188 at the start of the month. According to all the indexes, current spot rates are about 50% lower than they were a year ago. A forwarder who spoke with the Journal of Commerce noted that the lower listed spot rates this week are only part of the story. Carriers are continuing to offer discount rates, known as bullet or voyage-specific rates, that are as much as several hundred dollars lower than the posted spot/freight-all-kinds (FAK) rates. For example, some lines are offering bullet rates of $1,750 per FEU to the West Coast and $2,500 per FEU to the East Coast, and they are readily available to shippers. “It’s the bullet rates that are moving cargo,” the source said. That pricing structure would seem to indicate that retailers and other importers will have leverage entering annual service contract negotiations that are already underway and will pick up in intensity in early March following the Journal of Commerce’s TPM26 conference in Long Beach. Blank sailings accelerating Meanwhile, blank sailings, another demand barometer, are accelerating in February. Data from eeSea shows that carriers intend thus far to blank 206,835 TEUs of capacity this month on the Asia-to-West Coast trade, up from 107,318 TEUs in January. From Asia to the East and Gulf coasts, the blanks so far in February are at 96,881 TEUs, according to eeSea, up from 77,339 TEUs in January. “Carriers are blanking extensively in the weeks commencing Feb. 23 and March 2 in classic response to the lower exports out of China as a result of the CNY festive days,” Xeneta’s Sand said. US retailers have already forecast weaker cargo volumes over the next three months. Global Port Tracker, published monthly by the National Retail Federation (NRF), forecasts that US imports in February will be down 4.6% from the same month a year earlier, with March imports down 12.6% and April down 8.1% from the year-earlier months. US import volumes are also impacted by the confidence of consumers to spend. According to the Conference Board, a think tank, the consumer confidence index fell to 84.5 in January, well below market expectations and the lowest reading since May 2014. “Confidence collapsed in January as consumer concerns about both the present situation and expectations for the future deepened,” said Dana Peterson, chief economist at the Conference Board. Contact Bill Mongelluzzo at bill.mongelluzzo@spglobal.com .Contact Mark Szakonyi at  mark.szakonyi@spglobal.com .

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