Website_Early BF_640x340 Anon 1.png

Subscription Sale Pop Up - Anonymous

Supply chain

Events

Gateway

Breakbulk News

Container Shipping News

Port News

Trucking News

Rail News

Air Cargo Forwarder News

Air Cargo Carriers News

Transport, Trade and Regulation News

Logistics Technology News

Cool Cargo News

Special Reports

Press Releases

Marine terminals

International ports

Longshore labor

Truckload

Truck brokers

Maritime

Surface

Air Cargo

Magazine

Newsletters

Multimedia

White Papers

Intermodal providers

Commentary

Podcasts

Webcasts

Videos

Annual Review and Outlook

Top Rankings

Quarterly Intelligence Report

Intermodal Savings Index

Domestic Intermodal Service Scorecard

Breakbulk Quarterly Intelligence

Platts Containers Update

Custom Content

Resources

Last Mile News

Industrial Real Estate News

Media Kit

Other

Breakbulk carriers

Ro/ro cargo

Energy projects

Heavy-haul transport

Project cargo

Container lines

Trans-Atlantic

Forwarding

Asia-Europe

Trans-Pacific

Drayage

Port infrastructure

Breakbulk ports

North American ports

Flatbed

Trucking labor

North-American rail

International rail

Top 100 US Exporters

Top 100 US Importers

Top 25 LTL Trucking Companies

Top 25 North American Ports

Top 25 Truckload Companies

Top 40 Container Carriers

Top 50 3PLs

Top 50 Global Container Ports

Top 50 Global Transportation Providers

Top 50 Trucking Companies

Editorial Calendar

Rail Directories

<div class="phx-topic abstract-wrapper"><p>An attempt to buy and revive some version of Yellow was called “not viable” after a terminal auction raised $1.9 billion from 22 bidders.</p></div>

An attempt to buy and revive some version of Yellow was called “not viable” after a terminal auction raised $1.9 billion from 22 bidders.

3687222_FI.jpg

<div><p>A long-shot bid to revive bankrupt trucking company Yellow as a “going concern” was shot down by the less-than-truckload (LTL) company’s lawyers, who reportedly labeled the bid “not viable.” </p><p>According to a letter obtained by <i>The Wall Street Journal</i>, Yellow’s attorneys rejected an offer from a group associated with a unionized truckload car hauler that hoped to revive the defunct company, the <a>newspaper reported Thursday</a>. Yellow’s attorneys did not respond to a request for comment from the <i>Journal of Commerce</i>. </p><p>The bid, associated with Jack Cooper Transport, always seemed to be a long shot. The stated goal of the bid...

A long-shot bid to revive bankrupt trucking company Yellow as a “going concern” was shot down by the less-than-truckload (LTL) company’s lawyers, who reportedly labeled the bid “not viable.” According to a letter obtained by The Wall Street Journal, Yellow’s attorneys rejected an offer from a group associated with a unionized truckload car hauler that hoped to revive the defunct company, the newspaper reported Thursday . Yellow’s attorneys did not respond to a request for comment from the Journal of Commerce. The bid, associated with Jack Cooper Transport, always seemed to be a long shot. The stated goal of the bid was to somehow bring at least a portion of Yellow, which had four LTL operating companies, back to life, with rehired Teamsters union employees. Yellow shut down on July 30, dismissing most of its 30,000 workers. A small number have remained with the company to help with its bankruptcy auction and liquidation. Jack Cooper Transport and the International Brotherhood of Teamsters worked behind the scenes for months to gain political support in Washington for their bid, winning the endorsement of several members of Congress. Reports in The New York Times and Wall Street Journal last week suggested the bid for all of Yellow’s terminals and equipment would include $1.1 billion for secured creditors and an offer for unsecured creditors of $1.5 billion in preferred stock in a new company built on Yellow’s assets. However, the bid was dependent on a two-year extension of the maturation date on a $700 million 2020 US Treasury Department loan to Yellow. That extension never materialized. Instead, Yellow’s terminal auction went ahead last week, bringing in $1.9 billion for 128 of the company’s 323 facilities, far beyond the $1.1 billion contemplated by the “going concern” offer. The winning bids, which must be approved by the Delaware Bankruptcy Court, are binding, according to a review of court documents and discussions with those involved in the auction. The big winners included several of the largest US LTL providers, including XPO, which bid $870 million for 28 terminals; and Estes, Saia and R+L Carriers, each of which bid more than $200 million. Some 46 company-owned and 147 leased properties have yet to be auctioned, according to court documents. The auction of the remaining leased properties has been postponed until Dec. 18. There’s still a chance that a fresh bid for a smaller number of terminals could be successful, but the fact that 128 properties have already been sold would make it more difficult to assemble a functional network, according to an LTL executive. “You need strategically located terminals to operate a network; you can’t just have a hodgepodge,” said the source, who did not want to be identified. Contact William B. Cassidy at bill.cassidy@spglobal.com .

Yellow attorneys quash ‘going concern’ bid for LTL network, equipment

<div class="phx-topic abstract-wrapper"><p>While the conclusion of arbitration should provide more stability to shippers using Montreal, Canada’s other East Coast gateways will soon face their own contract negotiations.</p></div>

While the conclusion of arbitration should provide more stability to shippers using Montreal, Canada’s other East Coast gateways will soon face their own contract negotiations.

Feature image

<div class="phx-topic"><p>Arbitration hearings meant to reach a new deal between maritime employers and longshore workers at the Port of Montreal are expected to wrap up by early 2026, more than two years after the expiration of the last contract set off sporadic work stoppages at Canada’s second-busiest port.  </p><p>While the conclusion of arbitration should provide more stability to shippers using Montreal, Canada’s other East Coast gateways will soon face their own contract negotiations. Those talks come amid a push by the country’s biggest union to repeal the law that allowed the federal government to end the longshore strikes last year that hit both coasts.  </p><p>In September, arbitrator Maureen Flynn began the initial hearings between Montreal’s Maritime Employers Association (MEA) and the Canadian Union of Public Employees (CUPE) Local 375 over a new contract for the union’s 1,300 members.  </p><p>Flynn was brought in this past May, after mediated talks in the first quarter of 2025 failed to produce a deal. <a href="https://www.joc.com/article/bc-ports-to-reopen-but-longshore-union-plans-challenge-to-back-to-work-order-5810473">Canada’s labor minister had ordered striking dockworkers at both Montreal and Vancouver back on the job</a> in November 2024, requiring their disputes go to arbitration due to the impasse at both coasts. But <a href="https://www.joc.com/article/montreal-port-employers-union-agree-to-mediation-in-talks-for-new-contract-5824318">the MEA had asked for more time in mediation with the union</a>, hoping for a more amicable outcome than arbitration.  </p><p>Speaking at a conference in Toronto in October, Paul Bird, chief commercial officer for the Montreal Port Authority, which is not a direct party to the contract talks, said that he expects the arbitration to conclude at least by the first quarter of 2026.  </p><p>“We were hopeful we would get a decision during the fall, but it’s maybe more realistic that were getting a decision during Q1 of 2026,” Bird said.  </p><p>While Montreal’s container count is up for 2025 following last year’s work stoppages, containerized cargo tonnage is about 2 million metric tons less than it was in 2019. Much of that drop happened in 2023 as the previous contract with Local 375 was expiring.  </p><p>Bird said some of that drop was the result of shippers deciding to reroute their freight due to concerns over work stoppages at the port. He said a new contract should give shippers confidence to bring more freight back through Montreal.  </p><p>“When forwarders and BCOs look at when the next contract anniversary is coming up, they start rerouting cargo or make plan B options,” Bird said. “We’ve lost some of those volumes that have been rerouted, especially through US East Coast ports. [Work stoppages] have led to a dip in volume that takes time to recuperate.” </p><h3>Halifax, Saint John contracts expiring </h3><p>In ending last year’s coast-to-coast longshore strikes, the labor minister used a provision of Canadian law called Section 107 that forces workers back on the job and to submit to arbitration with employers or otherwise face fines. The same provision was used on Canadian railroad workers and postal employees who also threatened to strike.  </p><p>However, that same provision failed to end a short-lived strike by Air Canada flight attendants this past August, after the government admitted it would fine workers or the union. CUPE, which also represents the flight attendants, said they are working with Canadian legislators to repeal Section 107, arguing the government abused its power last year invoking the provision.  </p><p>A challenge to the government’s ability to bring workers back on the job comes as its other East Coast gateways face pending labor negotiations.  </p><p>The contract covering 631 members of the International Longshoremen’s Association (ILA) at the Port of Halifax is expiring at the end of 2025. The union there has launched a publicity campaign against terminal operator PSA International, accusing it of foisting automation technology on the workforce at the expense of jobs.  </p><p>The Port of Saint John will also see two agreements covering 268 ILA members expire at the end of 2025.   </p><p>Canada has seen some 62 work stoppages across its transportation industry between 2023 and 2024, according to government statistics. Canadian National Railway Vice President Dan Bresolin said the frequent strikes are shaking the confidence of carriers and shippers to use Canada, especially at a time when it wants to diversify its trade routes away from the US.  </p><p>“It’s the trust that’s eroded a little bit,” Bresolin said at the Toronto conference. “We need to get back to where carriers can bring in bigger ships, bring more business through Canadian gateways. The last 18 months has impacted that.”  </p><p><i>Contact Michael Angell at </i><a href="mailto:michael.angell@spglobal.com"><i>michael.angell@spglobal.com</i></a>. </p></div>

Arbitration hearings meant to reach a new deal between maritime employers and longshore workers at the Port of Montreal are expected to wrap up by early 2026, more than two years after the expiration of the last contract set off sporadic work stoppages at Canada’s second-busiest port. While the conclusion of arbitration should provide more stability to shippers using Montreal, Canada’s other East Coast gateways will soon face their own contract negotiations. Those talks come amid a push by the country’s biggest union to repeal the law that allowed the federal government to end the longshore strikes last year that hit both coasts. In September, arbitrator Maureen Flynn began the initial hearings between Montreal’s Maritime Employers Association (MEA) and the Canadian Union of Public Employees (CUPE) Local 375 over a new contract for the union’s 1,300 members. Flynn was brought in this past May, after mediated talks in the first quarter of 2025 failed to produce a deal. Canada’s labor minister had ordered striking dockworkers at both Montreal and Vancouver back on the job in November 2024, requiring their disputes go to arbitration due to the impasse at both coasts. But the MEA had asked for more time in mediation with the union , hoping for a more amicable outcome than arbitration. Speaking at a conference in Toronto in October, Paul Bird, chief commercial officer for the Montreal Port Authority, which is not a direct party to the contract talks, said that he expects the arbitration to conclude at least by the first quarter of 2026. “We were hopeful we would get a decision during the fall, but it’s maybe more realistic that were getting a decision during Q1 of 2026,” Bird said. While Montreal’s container count is up for 2025 following last year’s work stoppages, containerized cargo tonnage is about 2 million metric tons less than it was in 2019. Much of that drop happened in 2023 as the previous contract with Local 375 was expiring. Bird said some of that drop was the result of shippers deciding to reroute their freight due to concerns over work stoppages at the port. He said a new contract should give shippers confidence to bring more freight back through Montreal. “When forwarders and BCOs look at when the next contract anniversary is coming up, they start rerouting cargo or make plan B options,” Bird said. “We’ve lost some of those volumes that have been rerouted, especially through US East Coast ports. [Work stoppages] have led to a dip in volume that takes time to recuperate.” Halifax, Saint John contracts expiring In ending last year’s coast-to-coast longshore strikes, the labor minister used a provision of Canadian law called Section 107 that forces workers back on the job and to submit to arbitration with employers or otherwise face fines. The same provision was used on Canadian railroad workers and postal employees who also threatened to strike. However, that same provision failed to end a short-lived strike by Air Canada flight attendants this past August, after the government admitted it would fine workers or the union. CUPE, which also represents the flight attendants, said they are working with Canadian legislators to repeal Section 107, arguing the government abused its power last year invoking the provision. A challenge to the government’s ability to bring workers back on the job comes as its other East Coast gateways face pending labor negotiations. The contract covering 631 members of the International Longshoremen’s Association (ILA) at the Port of Halifax is expiring at the end of 2025. The union there has launched a publicity campaign against terminal operator PSA International, accusing it of foisting automation technology on the workforce at the expense of jobs. The Port of Saint John will also see two agreements covering 268 ILA members expire at the end of 2025. Canada has seen some 62 work stoppages across its transportation industry between 2023 and 2024, according to government statistics. Canadian National Railway Vice President Dan Bresolin said the frequent strikes are shaking the confidence of carriers and shippers to use Canada, especially at a time when it wants to diversify its trade routes away from the US. “It’s the trust that’s eroded a little bit,” Bresolin said at the Toronto conference. “We need to get back to where carriers can bring in bigger ships, bring more business through Canadian gateways. The last 18 months has impacted that.” Contact Michael Angell at michael.angell@spglobal.com .

Montreal longshore arbitration expected to conclude in Q1 2026

<div class="phx-topic abstract-wrapper"><p>A surge in replenishment activity in the US could turbocharge container shipping demand, while a wholesale return of container ships to Red Sea and Suez Canal transits would have a far-reaching market impact, speakers on a panel sponsored by the carrier said Wednesday.</p></div>

A surge in replenishment activity in the US could turbocharge container shipping demand, while a wholesale return of container ships to Red Sea and Suez Canal transits would have a far-reaching market impact, speakers on a panel sponsored by the carrier said Wednesday.

<div class="phx-topic"><p>Restocking depleted inventories in the US and a return of Red Sea-Suez Canal transits are the two biggest uncertainties facing the container shipping industry next year, a group of industry experts said Wednesday.  </p><p>A surge in replenishment activity could turbocharge container shipping demand. But a wholesale return of container ships to Red Sea and Suez Canal transits would have a far-reaching impact, creating significant congestion in Europe, the Mediterranean and Asia that would also impact US East Coast services, they said. </p><p>“Inventory restocking would have quite a big effect,” Rolf Habben Jansen, CEO of Hapag-Lloyd, said during the online panel briefing organized by the company. </p><p>Habben Jansen, who gave the odds of such a move at “well above 50%,” said restocking would likely increase container demand by more than 4% next year, compared with 4.7% growth so far this year. </p><p>Fellow panelist Michael Aldwell, Kuehne + Nagel’s executive vice president for sea logistics, said the recent US government shutdown meant there were no reliable inventory statistics available, although it was assumed inventory levels have fallen to unsustainable levels amid the tariff-driven decline in shipments to the US. </p><div class="wrapper-narrow"><dynamic-object type="jocchartid" resource-id="b2c4ed98-5885-4436-931d-5f035f537df1"></dynamic-object></div><p>Containerized US imports from Asia have fallen from the year’s high of 1.81 million TEUs in July to 1.6 million TEUs in October, according to PIERS, a sister product of the <i>Journal of Commerce</i> within S&amp;P Global. </p><p>The potential for the US to become more economically stable next year compared with the upheavals seen this year would “lead to substantial restocking,” Lars Jensen, CEO of consultant Vespucci Maritime and a <i>Journal of Commerce</i> contributor, added.  </p><h3>Hapag has ‘a plan on the shelf’ for Red Sea transits </h3><p>Turning to the possibility of a resumption of Red Sea transits, Aldwell said aside from port congestion due to vessel bunching, there would also be landside bottlenecks with terminal congestion caused by shortages of trucks and equipment. </p><p>He said carriers were likely to use both Red Sea and Cape of Good Hope routings in their schedules once it became clear the Red Sea was safe to use again, but there was still a lot of caution before that happened, with vessel insurance and crew welfare among the issues that had to be taken into account. </p><p>Some carriers, including CMA CGM, have made a tentative return to the Red Sea since Houthi rebels announced a ceasefire, with several vessels escorted by naval ships. </p><p>Habben Jansen said Hapag-Lloyd had no immediate intention to return to Red Sea transits, although it has “a plan on the shelf to follow” once it does decide to shift back. </p><p>“The risk of significant congestion in the Mediterranean and North Europe is just huge,” he said of when carriers do return to normal transits. </p><p>Jensen said assuming the latest ceasefire holds, the period after the Lunar New Year holiday in early March would be the best time to mitigate the impact from the disruption caused by transitioning back to Red Sea transits. He pointed out post-Lunar New Year is typically the slack season, so the combination of lower demand and vessel blankings would reduce congestion. </p><p>Carriers have used the longer route around southern Africa since late 2023 when the Houthis began their attacks on commercial shipping to protest Israel’s move into Gaza. </p><p><i>Contact Keith Wallis at </i><a href="mailto:keithwallis@hotmail.com"><i>keithwallis@hotmail.com</i></a>.</p></div>

Restocking depleted inventories in the US and a return of Red Sea-Suez Canal transits are the two biggest uncertainties facing the container shipping industry next year, a group of industry experts said Wednesday. A surge in replenishment activity could turbocharge container shipping demand. But a wholesale return of container ships to Red Sea and Suez Canal transits would have a far-reaching impact, creating significant congestion in Europe, the Mediterranean and Asia that would also impact US East Coast services, they said. “Inventory restocking would have quite a big effect,” Rolf Habben Jansen, CEO of Hapag-Lloyd, said during the online panel briefing organized by the company. Habben Jansen, who gave the odds of such a move at “well above 50%,” said restocking would likely increase container demand by more than 4% next year, compared with 4.7% growth so far this year. Fellow panelist Michael Aldwell, Kuehne + Nagel’s executive vice president for sea logistics, said the recent US government shutdown meant there were no reliable inventory statistics available, although it was assumed inventory levels have fallen to unsustainable levels amid the tariff-driven decline in shipments to the US. Containerized US imports from Asia have fallen from the year’s high of 1.81 million TEUs in July to 1.6 million TEUs in October, according to PIERS, a sister product of the Journal of Commerce within S&P Global. The potential for the US to become more economically stable next year compared with the upheavals seen this year would “lead to substantial restocking,” Lars Jensen, CEO of consultant Vespucci Maritime and a Journal of Commerce contributor, added. Hapag has ‘a plan on the shelf’ for Red Sea transits Turning to the possibility of a resumption of Red Sea transits, Aldwell said aside from port congestion due to vessel bunching, there would also be landside bottlenecks with terminal congestion caused by shortages of trucks and equipment. He said carriers were likely to use both Red Sea and Cape of Good Hope routings in their schedules once it became clear the Red Sea was safe to use again, but there was still a lot of caution before that happened, with vessel insurance and crew welfare among the issues that had to be taken into account. Some carriers, including CMA CGM, have made a tentative return to the Red Sea since Houthi rebels announced a ceasefire, with several vessels escorted by naval ships. Habben Jansen said Hapag-Lloyd had no immediate intention to return to Red Sea transits, although it has “a plan on the shelf to follow” once it does decide to shift back. “The risk of significant congestion in the Mediterranean and North Europe is just huge,” he said of when carriers do return to normal transits. Jensen said assuming the latest ceasefire holds, the period after the Lunar New Year holiday in early March would be the best time to mitigate the impact from the disruption caused by transitioning back to Red Sea transits. He pointed out post-Lunar New Year is typically the slack season, so the combination of lower demand and vessel blankings would reduce congestion. Carriers have used the longer route around southern Africa since late 2023 when the Houthis began their attacks on commercial shipping to protest Israel’s move into Gaza. Contact Keith Wallis at keithwallis@hotmail.com .

US restocking, Red Sea return the two big unknowns for 2026: Hapag briefing

<div class="phx-topic abstract-wrapper"><p>A series of freight-all-kinds increases since Oct. 1 has held up the spot market on the trade, with carriers aiming to sustain the pricing momentum through fourth-quarter contract talks.</p></div>

A series of freight-all-kinds increases since Oct. 1 has held up the spot market on the trade, with carriers aiming to sustain the pricing momentum through fourth-quarter contract talks.

<div class="phx-topic"><p>Ocean carriers on the Asia to North Europe and Mediterranean trades will roll out yet another rate increase on Dec. 1 in a bid to extend an upward pricing run that began in October. </p><p>It is the latest freight-all-kinds (FAK) increase to be announced on the trade lanes that have seen rate hikes every two weeks since Oct. 1.  </p><p>“Asia-Europe and Mediterranean rates are holding steady, supported by aggressive blank sailings during tender season,” Judah Levine, head of research at online freight marketplace Freightos, wrote in a market update this week.  </p><p>“This stability may reflect more aggressive blanked sailing campaigns for these lanes during the current tendering season, with some carriers announcing additional [rate increases] to push prices up to the $3,000-$4,000 per FEU level in December,” Levine said. </p><p>On Asia-North Europe, Mediterranean Shipping Co. and Hapag-Lloyd will set their FAK rate at $3,200/FEU from Dec. 1. </p><p>On Asia-Mediterranean routes, CMA CGM and Hapag-Lloyd have set their FAK rates at $4,000/FEU, while MSC has announced a rate level of $3,950/FEU from Asia to the West Mediterranean and $3,800/FEU to the East Mediterranean. </p><h3>Spot market momentum  </h3><p>While the fortnightly FAKs have not enabled carriers to achieve all their sought-after increases, the price hikes have seen the spot rate on Asia-North Europe rise steadily from $1,300 per FEU on Oct. 1 to $2,300/FEU this week, according to Platts, a sister company of the <i>Journal of Commerce</i> within S&amp;P Global.  </p><p>Asia-Mediterranean rates have risen from $1,600/FEU on Oct. 1 to the current level of $3,000/FEU. </p><div class="wrapper-narrow"><dynamic-object type="jocchartid" resource-id="b07fd015-2b73-4e9d-a61e-e44aaa45715e"></dynamic-object></div><p>With tendering season for long-term rates on the European trades now underway, the higher prices are being supported by significant capacity withdrawals in the form of blank sailings. </p><p>Carriers on Asia-North Europe have announced November blanks of almost 110,000 TEUs of capacity, with blank sailings of 56,000 TEUs set so far for December, according to Xeneta’s eeSea data. Both those numbers are expected to increase as new capacity continues to steam into service. </p><p>Asia-North Europe carriers will deploy 1.12 million TEUs of capacity in December, a record that will be beaten in January, when 1.17 million TEUs will be in service, according to Xeneta.  </p><p>On Asia-Mediterranean, 100,000 TEUs are set thus far to be blanked in November and 40,000 TEUs in December, with 17,000 TEUs on tap right now for January, according to Xeneta. A record 842,000 TEUs of capacity deployed on the trade in December will be beaten in January when the deployed fleet hits 861,000 TEUs. </p><p>Whether there will be enough demand to fill ships and hold up rates through December remains to be seen. The latest volume numbers from Container Trades Statistics are for September and showed that demand on Asia-Europe in the first nine months of the year was up 9.8% year over year. </p><p><i>Contact Greg Knowler at </i><a href="mailto:greg.knowler@spglobal.com"><i>greg.knowler@spglobal.com</i></a><i>.</i> </p></div>

Ocean carriers on the Asia to North Europe and Mediterranean trades will roll out yet another rate increase on Dec. 1 in a bid to extend an upward pricing run that began in October. It is the latest freight-all-kinds (FAK) increase to be announced on the trade lanes that have seen rate hikes every two weeks since Oct. 1. “Asia-Europe and Mediterranean rates are holding steady, supported by aggressive blank sailings during tender season,” Judah Levine, head of research at online freight marketplace Freightos, wrote in a market update this week. “This stability may reflect more aggressive blanked sailing campaigns for these lanes during the current tendering season, with some carriers announcing additional [rate increases] to push prices up to the $3,000-$4,000 per FEU level in December,” Levine said. On Asia-North Europe, Mediterranean Shipping Co. and Hapag-Lloyd will set their FAK rate at $3,200/FEU from Dec. 1. On Asia-Mediterranean routes, CMA CGM and Hapag-Lloyd have set their FAK rates at $4,000/FEU, while MSC has announced a rate level of $3,950/FEU from Asia to the West Mediterranean and $3,800/FEU to the East Mediterranean. Spot market momentum While the fortnightly FAKs have not enabled carriers to achieve all their sought-after increases, the price hikes have seen the spot rate on Asia-North Europe rise steadily from $1,300 per FEU on Oct. 1 to $2,300/FEU this week, according to Platts, a sister company of the Journal of Commerce within S&P Global. Asia-Mediterranean rates have risen from $1,600/FEU on Oct. 1 to the current level of $3,000/FEU. With tendering season for long-term rates on the European trades now underway, the higher prices are being supported by significant capacity withdrawals in the form of blank sailings. Carriers on Asia-North Europe have announced November blanks of almost 110,000 TEUs of capacity, with blank sailings of 56,000 TEUs set so far for December, according to Xeneta’s eeSea data. Both those numbers are expected to increase as new capacity continues to steam into service. Asia-North Europe carriers will deploy 1.12 million TEUs of capacity in December, a record that will be beaten in January, when 1.17 million TEUs will be in service, according to Xeneta. On Asia-Mediterranean, 100,000 TEUs are set thus far to be blanked in November and 40,000 TEUs in December, with 17,000 TEUs on tap right now for January, according to Xeneta. A record 842,000 TEUs of capacity deployed on the trade in December will be beaten in January when the deployed fleet hits 861,000 TEUs. Whether there will be enough demand to fill ships and hold up rates through December remains to be seen. The latest volume numbers from Container Trades Statistics are for September and showed that demand on Asia-Europe in the first nine months of the year was up 9.8% year over year. Contact Greg Knowler at greg.knowler@spglobal.com .

Asia-Europe carriers to levy yet another rate hike on Dec. 1

<div class="phx-topic abstract-wrapper"><p>As a result of that heightened overcapacity, spot rates on the trade lane are at their lowest since February, while exports to the US East Coast fell sharply in October.</p></div>

As a result of that heightened overcapacity, spot rates on the trade lane are at their lowest since February, while exports to the US East Coast fell sharply in October.

<div class="phx-topic"><p>A more settled capacity situation on the India-US East Coast trade due to fewer blank sailings in November has upped the rate pressure on ocean carriers in the market that have been squeezed by US tariffs. </p><p>With the exception of two calls voided by CMA CGM’s Indamex loop, westbound sailings out of Nhava Sheva/Mundra for the month are known to be on normal schedule across the premier services operated by Hapag-Lloyd, Mediterranean Shipping Co. and Maersk. </p><p>As a result of that heightened overcapacity, spot rates on the trade lane are at their lowest since February. Platts, a sister company of the <i>Journal of Commerce</i> within S&amp;P Global, put India-USEC spot rates at $1,450 per FEU as of Nov. 18, a 9% decline on the week and the lowest reading since $1,330 per FEU on Feb. 21.  </p><p>Local forwarder sources have reported carrier quotes even lower, in the range of $1,200 to $1,300 per FEU for bookings from Nhava Sheva to New York. That’s a drop of $200 to $300 per FEU from the late-October trendline.   </p><div class="wrapper-narrow"><dynamic-object type="jocchartid" resource-id="56199e2b-5df4-468f-a149-b18ae7c32e51"></dynamic-object></div><p>Sources noted that while cargo bookings have weakened, overcapacity is the bigger factor pushing rates lower and prompting carriers to undercut each other in an attempt to keep vessel liftings as close as possible to their declared allocations. </p><p>“Capacity utilization for USEC sailings out of West India has generally dipped to between 60% to 70% from the normal 80% to 90% level,” a Nhava Sheva-based vessel operations executive at a European liner who didn’t want to be identified told the <i>Journal of Commerce</i>. “Most carriers are now weighing cost control measures to tighten operating expenses.” </p><p>Additionally, carrier sources are pinning their hopes for a rebound in volumes on an early breakthrough in bilateral trade negotiations between New Delhi and Washington. But they believe a return to the Red Sea and Suez Canal, on which there are some tentative signals, will create a fresh set of capacity problems to solve. </p><p>“The speed of [Suez] return will determine whether the industry experiences renewed volatility or a more balanced adjustment,” Supal Shah, CEO of Sarjak Container Lines, noted. “A measured, well-sequenced return supports stability across the supply chain.” </p><div class="wrapper-narrow"><dynamic-object type="jocchartid" resource-id="ae1df54b-4003-46b5-a8c3-e0d35707e941"></dynamic-object></div><p>Meanwhile, Indian goods exports in October took a severe beating, falling nearly 12% by value year over year, with exports to the US down 7%, according to provisional official data. </p><p>“The decline in merchandise exports was primarily driven by a sharper fall in several dominant export sectors,” S.C. Ralhan, president of the Federation of Indian Export Organizations, said in a statement. </p><p>Indian exports to the USEC came in at just under 70,000 TEUs in October, down from 87,970 TEUs in September, according to PIERS, a sister product of the <i>Journal of Commerce.</i>  </p><p><i>Contact Bency Mathew at </i><a href="mailto:bencyvmathew@gmail.com"><i>bencyvmathew@gmail.com</i></a>.</p></div>

A more settled capacity situation on the India-US East Coast trade due to fewer blank sailings in November has upped the rate pressure on ocean carriers in the market that have been squeezed by US tariffs. With the exception of two calls voided by CMA CGM’s Indamex loop, westbound sailings out of Nhava Sheva/Mundra for the month are known to be on normal schedule across the premier services operated by Hapag-Lloyd, Mediterranean Shipping Co. and Maersk. As a result of that heightened overcapacity, spot rates on the trade lane are at their lowest since February. Platts, a sister company of the Journal of Commerce within S&P Global, put India-USEC spot rates at $1,450 per FEU as of Nov. 18, a 9% decline on the week and the lowest reading since $1,330 per FEU on Feb. 21. Local forwarder sources have reported carrier quotes even lower, in the range of $1,200 to $1,300 per FEU for bookings from Nhava Sheva to New York. That’s a drop of $200 to $300 per FEU from the late-October trendline. Sources noted that while cargo bookings have weakened, overcapacity is the bigger factor pushing rates lower and prompting carriers to undercut each other in an attempt to keep vessel liftings as close as possible to their declared allocations. “Capacity utilization for USEC sailings out of West India has generally dipped to between 60% to 70% from the normal 80% to 90% level,” a Nhava Sheva-based vessel operations executive at a European liner who didn’t want to be identified told the Journal of Commerce. “Most carriers are now weighing cost control measures to tighten operating expenses.” Additionally, carrier sources are pinning their hopes for a rebound in volumes on an early breakthrough in bilateral trade negotiations between New Delhi and Washington. But they believe a return to the Red Sea and Suez Canal, on which there are some tentative signals, will create a fresh set of capacity problems to solve. “The speed of [Suez] return will determine whether the industry experiences renewed volatility or a more balanced adjustment,” Supal Shah, CEO of Sarjak Container Lines, noted. “A measured, well-sequenced return supports stability across the supply chain.” Meanwhile, Indian goods exports in October took a severe beating, falling nearly 12% by value year over year, with exports to the US down 7%, according to provisional official data. “The decline in merchandise exports was primarily driven by a sharper fall in several dominant export sectors,” S.C. Ralhan, president of the Federation of Indian Export Organizations, said in a statement. Indian exports to the USEC came in at just under 70,000 TEUs in October, down from 87,970 TEUs in September, according to PIERS, a sister product of the Journal of Commerce. Contact Bency Mathew at bencyvmathew@gmail.com .

Steadier capacity in November adds to India-USEC ocean pricing pressure

<div class="phx-topic abstract-wrapper"><p>The carrier’s first direct service to Halifax comes as Canada looks to pivot its trade networks and as low water levels affect Montreal’s container business.</p></div>

The carrier’s first direct service to Halifax comes as Canada looks to pivot its trade networks and as low water levels affect Montreal’s container business.

<div class="phx-topic"><p>OOCL is adding the Port of Halifax to a trans-Atlantic Mediterranean service, marking the carrier’s first direct service to the port. The new port call comes as Canada looks outside the US for more trade and as low water levels on the St. Lawrence River make Halifax an offtake point for Montreal-bound cargo.  </p><p>OOCL said its West Mediterranean America service from Italy and Spain would add Halifax as the first call before US East Coast ports, noting in a statement the move “unlocks direct access to Montreal and Toronto.” </p><p>The OOCL service joins three other Mediterranean-North American East Coast services that also call Halifax; this will be the Hong Kong-based carrier’s first service to the port.  </p><p>While Halifax’s overall cargo volumes have yet to approach their 2022 peak, the port has seen some uptick this year. First-half 2025 import volumes are up 13.6% to 131,980 TEUs and export volumes have risen 8.9% to 126,937 TEUs compared to the first half of 2024.  </p><div class="wrapper-narrow"><dynamic-object type="jocchartid" resource-id="09c4541c-c611-4969-af40-74647b74b5fd"></dynamic-object></div><p>Halifax, meanwhile, has been providing relief to the Port of Montreal this year due to navigational challenges on the St. Lawrence Seaway. One portion of Montreal’s harbor has been hovering at about a 17-foot depth since September, according to the International Lake Ontario-St. Lawrence River Board, among the historical lows recorded for the area. </p><p>“For the carriers, the biggest problem is low water on the Seaway,” Grace Liang, president of OOCL Canada, said at a conference in Toronto last month. “The impact of low water is pretty substantial.”  </p><p>Paul Bird, chief commercial officer of the Montreal Port Authority, said Montreal’s current water levels are part of the La Niña weather cycle that occurs approximately every 12 years. As a result, container ships have to offload cargo prior to entering the Seaway to reduce their draft, which serves as a temporary measure until water levels rise again.  </p><p>“Carriers have to top off either at Saint John or Halifax before they come into Montreal,” Bird said at the Toronto conference. “But there’s a cycle here. We don’t expect these low water levels to return for another 10 or 12 years.”   </p><h3>Canadian ports handled frontloaded imports </h3><p>Liang said at the conference that Canada’s ports handled frontloaded imports, either from US-bound freight or as inputs for other Canadian goods shipped to the US. But she said Canadian ports are likely to see the same cargo slowdown as US ports in the fourth quarter.    </p><p>“When it comes to demand, it’s affected by the trade wars and tariffs,” Liang said. “We’ve seen a lot of frontloading both in the US and Canada.”  </p><p>In the long term, Canada’s international trade also faces a restructuring that favors enlarged port coverage. Back in March, Prime Minister Mark Carney said Canada’s traditional reliance on the US export market is now over due to the tariffs imposed by the Trump administration.  </p><p>Carney’s 2025 budget proposes C$5 billion in spending for Transport Canada to develop new trade and infrastructure projects, as well as other funds to help Canadian businesses tap overseas markets.  </p><p><i>Contact Michael Angell at </i><a href="mailto: michael.angell@spglobal.com"><i>michael.angell@spglobal.com</i></a>.  </p></div>

OOCL is adding the Port of Halifax to a trans-Atlantic Mediterranean service, marking the carrier’s first direct service to the port. The new port call comes as Canada looks outside the US for more trade and as low water levels on the St. Lawrence River make Halifax an offtake point for Montreal-bound cargo. OOCL said its West Mediterranean America service from Italy and Spain would add Halifax as the first call before US East Coast ports, noting in a statement the move “unlocks direct access to Montreal and Toronto.” The OOCL service joins three other Mediterranean-North American East Coast services that also call Halifax; this will be the Hong Kong-based carrier’s first service to the port. While Halifax’s overall cargo volumes have yet to approach their 2022 peak, the port has seen some uptick this year. First-half 2025 import volumes are up 13.6% to 131,980 TEUs and export volumes have risen 8.9% to 126,937 TEUs compared to the first half of 2024. Halifax, meanwhile, has been providing relief to the Port of Montreal this year due to navigational challenges on the St. Lawrence Seaway. One portion of Montreal’s harbor has been hovering at about a 17-foot depth since September, according to the International Lake Ontario-St. Lawrence River Board, among the historical lows recorded for the area. “For the carriers, the biggest problem is low water on the Seaway,” Grace Liang, president of OOCL Canada, said at a conference in Toronto last month. “The impact of low water is pretty substantial.” Paul Bird, chief commercial officer of the Montreal Port Authority, said Montreal’s current water levels are part of the La Niña weather cycle that occurs approximately every 12 years. As a result, container ships have to offload cargo prior to entering the Seaway to reduce their draft, which serves as a temporary measure until water levels rise again. “Carriers have to top off either at Saint John or Halifax before they come into Montreal,” Bird said at the Toronto conference. “But there’s a cycle here. We don’t expect these low water levels to return for another 10 or 12 years.” Canadian ports handled frontloaded imports Liang said at the conference that Canada’s ports handled frontloaded imports, either from US-bound freight or as inputs for other Canadian goods shipped to the US. But she said Canadian ports are likely to see the same cargo slowdown as US ports in the fourth quarter. “When it comes to demand, it’s affected by the trade wars and tariffs,” Liang said. “We’ve seen a lot of frontloading both in the US and Canada.” In the long term, Canada’s international trade also faces a restructuring that favors enlarged port coverage. Back in March, Prime Minister Mark Carney said Canada’s traditional reliance on the US export market is now over due to the tariffs imposed by the Trump administration. Carney’s 2025 budget proposes C$5 billion in spending for Transport Canada to develop new trade and infrastructure projects, as well as other funds to help Canadian businesses tap overseas markets. Contact Michael Angell at michael.angell@spglobal.com .

OOCL adds Halifax call to trans-Atlantic Med service

Subscribe today using code BFW30 at checkout and save 30% on a Silver or Silver Plus annual subscription!

Subscribe Now - Anonymous to S/SP - Wide Box

BLACK FRIDAY SALE!

Get into a Gold subscription today and save $500 by using code BFW995 at checkout!

Subscribe Now - Anonymous to Gold - Wide Box

Use code GTW595 at checkout and save $900 on first year of an annual Gold subscription!

Upgrade Subscription - Gold Trials

Become a Gold Subscriber and Save!

Arm your team with the most trusted information portal for the international container shipping industry.

Group Subscriptions - Wide Box

Get into a group subscription today

Access Journal of Commerce content for 30 days

Free Trial - Wide Box

START A FREE TRIAL TODAY

ApolloError

BLACK FRIDAY SALE: Subscribe today using code BFW30 at checkout and save 30% on a Silver or Silver Plus annual subscription!

Subscribe Now - Anonymous to S/SP - Offer Box

SUBSCRIBE TODAY

BLACK FRIDAY SALE: Get into a Gold subscription today and save $500 by using code BFW995 at checkout!

Subscribe Now - Anonymous to Gold - Offer Box

UPGRADE TO GOLD AND SAVE: Use code GTW595 at checkout and save $900 on first year of a Gold subscription!

Upgrade Subscription

GET INTO A GROUP SUBSCRIPTION: Arm your team with unlimited Journal of Commerce content

Group Subscriptions - Offer Box

Group Subscriptions

START A FREE TRIAL: Access Journal of Commerce content for 30 days

Free Trial - Offer Box

Free Trial

Monthly publication providing an editorial deep dive into global supply chain news

Journal of Commerce Magazine - Rectangle Box

Journal of Commerce Magazine

An in-depth analysis of transport trends in the multipurpose and heavy-lift fleet segment

Breakbulk Report - Rectangle Box

Breakbulk Quarterly

The only editorially independent conference for the breakbulk & project cargo industry

Breakbulk Conference - Rectangle Box

Attend Breakbulk26

Customers scoring their intermodal partners to identify the best service providers

Intermodal Service Scorecard - Rectangle Box

Intermodal Service Scorecard

The premier conference for the global container shipping and supply chain community

TPM Conference - Rectangle Box

Attend TPM26

A premium access index of savings using domestic intermodal vs. OTR 

ISI Report - Rectangle Box

An extensive dashboard of charts organized by trade lane, mode, and topic

Gateway - Rectangle Box

A premium access outlook critical to shippers and transportation providers

QI Report - Rectangle Box

Quarterly Intelligence

The Journal of Commerce’s surface transport news and analysis focuses on landside transport movement — from railroad news to trucking news — including full load trucking, less-than-truckload (LTL), refrigerated (or reefer) trucking, flatbed and domestic and international intermodal rail, and how it connects with seaports, inland rail hubs, distribution centers and transloading operations. Reporting on the surface transport sector covers the movement of domestic shipments within the United States and international cargoes transported via domestic equipment including trailers and 53-foot containers.

Discover comprehensive trucking news and trends with Journal of Commerce - from trucking LTL to regulation and trucking supply and demand.

Trucking News | Journal of Commerce

Stay updated with our rail transport news and trends. Journal of Commerce covers intermodal news, and port connectivity news in the container rail transport sector.

Rail News | Journal of Commerce

Explore the world of ground transport news - from trucks to railroads, intermodal connections, and port ties. Daily insights on US and global shipments.

Latest News

More News & Analysis

Error occured during loading content