<div class="phx-topic abstract-wrapper">Morrison Knudsen Corp., in its most significant move to date to stabilize its finances, is spinning </div>

Morrison Knudsen Corp., in its most significant move to date to stabilize its finances, is spinning

<div>Morrison Knudsen Corp., in its most significant move to date to stabilize its finances, is spinning off its troubled commuter-railcar unit as part of a plan to focus on its core engineering and construction businesses.Under a deal worked out with MK's banks, among others, the rail unit, which accounted for more than 60 percent of the company's $350 million net loss last year, will become a closely held corporation - American Passenger Rail Car Co., or Amrail - and will be held in trust. It will be funded by MK's bonding agent, Fidelity &amp; Deposit Co. of Maryland.The new Chicago-based...

Morrison Knudsen Corp., in its most significant move to date to stabilize its finances, is spinning off its troubled commuter-railcar unit as part of a plan to focus on its core engineering and construction businesses. Under a deal worked out with MK's banks, among others, the rail unit, which accounted for more than 60 percent of the company's $350 million net loss last year, will become a closely held corporation - American Passenger Rail Car Co., or Amrail - and will be held in trust. It will be funded by MK's bonding agent, Fidelity & Deposit Co. of Maryland.The new Chicago-based company will have 1,800 employees and will assume all the contracts and most of the debt obligations formerly held by the MK Transit Group. Amrail plans to close the 280-worker plant in Pittsburg, Calif., that is making cars for the Bay Area Rapid Transit system, but will keep plants in Hornell, N.Y., and Chicago. "Exiting the transit-car manufacturing market is a substantial step in our operational and financial restructuring," Robert A. Tinstman, MK's president and chief executive, said in a statement. MK Rail's spinoff is part of a broad effort by MK, which is based in Boise, Idaho, to right itself after being pushed to the brink of bankruptcy through defaults on loan covenants linked to its rail and transit contracts. MK also is trying to recover from a scandal involving allegations of financial irregularities during the time William J. Agee headed the company. Mr. Agee was forced out as chairman and chief executive in February. "In the past five months, we've secured a long-term banking agreement, resolved our securities and derivative lawsuits, solved the cash impact of our transit operations and are well along in selling our noncore businesses to reduce our debt," Mr. Tinstman said. Of the five units MK has put up for sale since Mr. Agee's departure, two have been sold. MK Gold was sold in May for $22.5 million, and Western Aircraft was sold for $5 million in June. MK Rail, which manufacturers locomotive parts, could fetch over $100 million. Among the contracts Amrail will take over is a deal to build 42 intercity railcars for the California Department of Transportation. The 25 cars still to be delivered under that contract will be built at Hornell plant when the Pittsburg plant closes, probably early next year. The deal to spin off Amrail was the result of an agreement by MK, its transit-car customers, its banks, and Fidelity & Deposit, its bonding agent. MK said the transaction will require additional reserves that will be reflected in third-quarter earnings, to be announced late this month.

MORRISON KNUDSEN PLANS TO SPIN OFF MONEY-LOSING TRANSIT-CAR DIVISION

<div class="phx-topic abstract-wrapper">But all eyes are on the July 9 end to the 90-day pause on US tariffs that forwarders believe will determine the level of demand through the rest of the year.</div>

But all eyes are on the July 9 end to the 90-day pause on US tariffs that forwarders believe will determine the level of demand through the rest of the year.

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<div class="phx-topic">Strong demand on Asia-Europe continues to hold up short-term rates that are being further supported by ocean carriers shifting capacity from the trade to the trans-Pacific following the US’ May 12 pause on sky-high China tariffs. But all eyes are on another date — July 9, the end of the 90-day pause on the so-called reciprocal tariffs the Trump administration levied on its non-China trading partners. Forwarders believe what happens after that will determine the level of demand on Asia-Europe routes in the second half of the year. Burkhard Eling, CEO of German forwarder Dachser, said shippers and forwarders were struggling to forecast demand for the rest of the year with the tariffs impacting trade lanes outside the trans-Pacific. “It all depends on what will happen on July 9,” Eling told the Journal of Commerce in an interview. “Everyone is preparing for this date and that will affect a lot of shipments in the second half, but predicting what will happen is nearly impossible.” A Hapag-Lloyd spokesperson said the peak season has already started on Asia-Europe, with solid demand on the westbound trade lane. The peak shipping period on the trade typically runs from June to China’s “Golden Week” in the first week of October. “Demand is stronger on the Med trades, as capacity has been pulled out by the competition,” the spokesperson told the Journal of Commerce Tuesday. But he conceded that forward visibility was challenging because of the unpredictability in the market. Eling also cited the uncertainty moving forward. ”If somebody says he knows there will be a peak season, I would love to have his crystal ball,” he said. “I wouldn’t say the classic seasonality is gone, but with all the tariffs and the complications, I don’t expect a big season in the second half.” <h3>Record capacity to be deployed in July </h3>The latest Asia-to-Europe volume data from Container Trades Statistics (CTS) is for April when 1.64 million TEUs were transported westward, an increase of 8.6% year over year and a 6% gain from March. When the North Europe and Mediterranean destinations are separated, Asia-North Europe volume rose 6.6% year over year in April to 1 million TEUs, while Asia-Mediterranean volume was up 11.1% at 641,690 TEUs. In the first four months of 2025, total Asia-Europe volume was up 9% year over year at 6.13 million TEUs, with the Asia-North Europe segment rising 6.6% to 3.72 million TEUs and Asia-Mediterranean surging 12.14% to 2.4 million TEUs, according to CTS. <div class="wrapper-narrow"><dynamic-object type="jocchartid" resource-id="3319784d-75e8-4a04-a4e6-0497fdd266f3"></dynamic-object></div>Data from rate benchmarking platform Xeneta shows the four-week rolling average capacity offered on Asia-Europe reached a record 346,000 TEUs on June 5, higher than at any point during the pandemic. “But as the extra loaders that brought an all-time high level of capacity to the Asia-North Europe trade are now needed back on the trans-Pacific, the short-term contracts are rising in early and mid-June,” Peter Sand, chief analyst at Xeneta, told the Journal of Commerce Tuesday. Blank sailings are also increasing on Asia-Europe, with data from visibility provider eeSea showing 86,241 TEUs will be cut in July, up from 80,000 TEUs in June. But at the same time, a record 1.15 million TEUs in capacity will be deployed in July. Despite being awash with capacity, rates are staying aloft because of the robust demand combined with ships exiting to the trans-Pacific and capacity still being absorbed by the ongoing diversions around southern Africa. Spot rates from Asia to North Europe this week rose to $2,800 per FEU, up almost 15% from the previous week, according to Platts, a sister company of the Journal of Commerce within S&amp;P Global. Asia-Mediterranean rates were up 3.7% at $4,500/FEU. Xeneta’s index has the Asia-North Europe rates flat at $2,419/FEU this week, while Drewry’s World Container Index shows rates from Shanghai to Rotterdam up 32% on the previous week and Shanghai-Genoa rates up 38%. “A lot of carriers are moving their tonnage back to the trans-Pacific trade and the overcapacity we had is diminishing while booking strength is increasing,” said Tom Turner, head of ocean for Europe, Middle East and Africa at Toll Group. <h3>Confident carriers raising rates </h3>The supply-demand dynamics are giving carriers the confidence to introduce rate increases to the market, Turner noted. Following the June 1 freight-all-kinds (FAK) increases that led to a sharp rise in rates, some ocean carriers have announced rate hikes and peak season surcharges for June 15. ”The carriers might be overly ambitious and shooting a bit higher than what they’re realistically hoping to achieve, but at the same time, I wouldn’t feel comfortable advising a customer that the rates are going to go down,” Turner said. “We are in a tight enough market to say that the carriers will be able to defend some of the increases,” he added.<div class="wrapper-narrow"><dynamic-object type="jocchartid" resource-id="76717833-8467-4d6f-a836-ffe18c5dc893"></dynamic-object></div>Matthias Hansen, senior vice president of global ocean freight at France-based forwarder Geodis, also pointed to carriers shifting tonnage back to the trans-Pacific to take advantage of the high rates from China to the US. ”There is something like 28 extra loaders moving out of Asia-Europe and I expect a shortage of equipment will emerge because there is such a big pull towards the US,” he told the Journal of Commerce. Hansen said although he was surprised at the strength of the Asia-Europe demand, he expects the strong volume will continue for “at least another two to three months.” Eling attributed part of the current rising demand to the fact that when the US imposed 145% tariffs on China and shippers paused orders, Chinese producers quickly looked for new markets and Asia-Europe was the biggest one. That led to rising demand on the trade that continued even after the mid-May pause. ”When you consider (145%) tariffs from the US, Chinese producers need to find different markets to place their goods, and of course, Europe is a big market,” he said. “This is the natural consequence of the tariffs that we are seeing in the demand.” Contact Greg Knowler at <a href="mailto:greg.knowler@spglobal.com">greg.knowler@spglobal.com</a>. </div>

Strong demand on Asia-Europe continues to hold up short-term rates that are being further supported by ocean carriers shifting capacity from the trade to the trans-Pacific following the US’ May 12 pause on sky-high China tariffs. But all eyes are on another date — July 9, the end of the 90-day pause on the so-called reciprocal tariffs the Trump administration levied on its non-China trading partners. Forwarders believe what happens after that will determine the level of demand on Asia-Europe routes in the second half of the year. Burkhard Eling, CEO of German forwarder Dachser, said shippers and forwarders were struggling to forecast demand for the rest of the year with the tariffs impacting trade lanes outside the trans-Pacific. “It all depends on what will happen on July 9,” Eling told the Journal of Commerce in an interview. “Everyone is preparing for this date and that will affect a lot of shipments in the second half, but predicting what will happen is nearly impossible.” A Hapag-Lloyd spokesperson said the peak season has already started on Asia-Europe, with solid demand on the westbound trade lane. The peak shipping period on the trade typically runs from June to China’s “Golden Week” in the first week of October. “Demand is stronger on the Med trades, as capacity has been pulled out by the competition,” the spokesperson told the Journal of Commerce Tuesday. But he conceded that forward visibility was challenging because of the unpredictability in the market. Eling also cited the uncertainty moving forward. ”If somebody says he knows there will be a peak season, I would love to have his crystal ball,” he said. “I wouldn’t say the classic seasonality is gone, but with all the tariffs and the complications, I don’t expect a big season in the second half.” Record capacity to be deployed in July The latest Asia-to-Europe volume data from Container Trades Statistics (CTS) is for April when 1.64 million TEUs were transported westward, an increase of 8.6% year over year and a 6% gain from March. When the North Europe and Mediterranean destinations are separated, Asia-North Europe volume rose 6.6% year over year in April to 1 million TEUs, while Asia-Mediterranean volume was up 11.1% at 641,690 TEUs. In the first four months of 2025, total Asia-Europe volume was up 9% year over year at 6.13 million TEUs, with the Asia-North Europe segment rising 6.6% to 3.72 million TEUs and Asia-Mediterranean surging 12.14% to 2.4 million TEUs, according to CTS. Data from rate benchmarking platform Xeneta shows the four-week rolling average capacity offered on Asia-Europe reached a record 346,000 TEUs on June 5, higher than at any point during the pandemic. “But as the extra loaders that brought an all-time high level of capacity to the Asia-North Europe trade are now needed back on the trans-Pacific, the short-term contracts are rising in early and mid-June,” Peter Sand, chief analyst at Xeneta, told the Journal of Commerce Tuesday. Blank sailings are also increasing on Asia-Europe, with data from visibility provider eeSea showing 86,241 TEUs will be cut in July, up from 80,000 TEUs in June. But at the same time, a record 1.15 million TEUs in capacity will be deployed in July. Despite being awash with capacity, rates are staying aloft because of the robust demand combined with ships exiting to the trans-Pacific and capacity still being absorbed by the ongoing diversions around southern Africa. Spot rates from Asia to North Europe this week rose to $2,800 per FEU, up almost 15% from the previous week, according to Platts, a sister company of the Journal of Commerce within S&P Global. Asia-Mediterranean rates were up 3.7% at $4,500/FEU. Xeneta’s index has the Asia-North Europe rates flat at $2,419/FEU this week, while Drewry’s World Container Index shows rates from Shanghai to Rotterdam up 32% on the previous week and Shanghai-Genoa rates up 38%. “A lot of carriers are moving their tonnage back to the trans-Pacific trade and the overcapacity we had is diminishing while booking strength is increasing,” said Tom Turner, head of ocean for Europe, Middle East and Africa at Toll Group. Confident carriers raising rates The supply-demand dynamics are giving carriers the confidence to introduce rate increases to the market, Turner noted. Following the June 1 freight-all-kinds (FAK) increases that led to a sharp rise in rates, some ocean carriers have announced rate hikes and peak season surcharges for June 15. ”The carriers might be overly ambitious and shooting a bit higher than what they’re realistically hoping to achieve, but at the same time, I wouldn’t feel comfortable advising a customer that the rates are going to go down,” Turner said. “We are in a tight enough market to say that the carriers will be able to defend some of the increases,” he added. Matthias Hansen, senior vice president of global ocean freight at France-based forwarder Geodis, also pointed to carriers shifting tonnage back to the trans-Pacific to take advantage of the high rates from China to the US. ”There is something like 28 extra loaders moving out of Asia-Europe and I expect a shortage of equipment will emerge because there is such a big pull towards the US,” he told the Journal of Commerce. Hansen said although he was surprised at the strength of the Asia-Europe demand, he expects the strong volume will continue for “at least another two to three months.” Eling attributed part of the current rising demand to the fact that when the US imposed 145% tariffs on China and shippers paused orders, Chinese producers quickly looked for new markets and Asia-Europe was the biggest one. That led to rising demand on the trade that continued even after the mid-May pause. ”When you consider (145%) tariffs from the US, Chinese producers need to find different markets to place their goods, and of course, Europe is a big market,” he said. “This is the natural consequence of the tariffs that we are seeing in the demand.” Contact Greg Knowler at greg.knowler@spglobal.com .

Maritime

Container Shipping News

Asia-Europe

Robust demand emerges on Asia-Europe ocean trade as peak season begins

<div class="phx-topic abstract-wrapper">Data shows the up and down movement of goods in recent months tied to changing US tariff policy. </div>

Data shows the up and down movement of goods in recent months tied to changing US tariff policy.

<div class="phx-topic">The US-Mexico border is seeing more frequent spikes and declines in freight volumes bound for the US as shippers try to navigate US tariffs. “We’re seeing ebbs and flows [in shipments] as people try to react to current conditions,” said Edward Habe, vice president of Mexico sales for Averitt, a regional less-than-truckload (LTL) carrier and logistics company based in Cookeville, Tennessee. Those ebbs and flows are clearly seen in monthly truck crossing data from the US Bureau of Transportation Statistics (BTS), with the number of northbound crossings rising 10.2% in January, dropping 6.3% in February, rising 12% in March and falling 4.5% in April. The ups and downs closely follow the introduction (Feb. 1), postponement (Feb. 3), reintroduction (March 4) and further postponement (March 6) of US tariffs on Mexico. Currently, the 25% tariff introduced in February is only imposed on goods that do not meet the US-Mexico-Canada trade agreement rules of origin for North American products. “We saw a huge push in preparation for the tariffs,” said Habe, whose company has four freight facilities along the US-Mexico border. “We opened an 85,000-square-foot fulfillment center in San Antonio late last year and in two months it was half filled by two companies.” At the end of May, Averitt saw another push that is starting to wane in June, Habe said, adding, “Shippers are trying to play a waiting game to see what happens with these tariffs.” Overall, that has constrained growth at four of the eight largest US-Mexico truck border crossings, pulling their collective northbound truck count down 3.5% year over year in the first quarter, while total US-bound truck crossings rose 1.3% in the same period. With each new tariff announcement from President Donald Trump, “we saw a lot of people trying to export as soon as possible,” said Gabriel Guajardo, director of the southern border for Echo Global Logistics. Now, “everyone’s holding their breath,” he added. Most of the eight largest US-Mexico truck crossings saw US-bound volumes rise or fall between a 3.1% loss and a 4.4% gain in the first quarter, the BTS data showed. The BTS does not track Mexico-bound volumes, but the ratio of northbound to southbound loads is generally 3:1 or 4:1, and even higher in peak seasons, such as produce season. At Laredo, Texas, the largest US border crossing for trucks, US-bound volumes in the first quarter declined 1.8% from a year ago. Volumes fell 2.8% in El Paso and Ysleta, Texas, and 3.1% in Brownsville. First-quarter volumes were flat in Hidalgo, Texas, but up 2% in Calexico East, California, and 4.4% higher in Nogales, Arizona. <h3>Beer flows north </h3>The border crossings at Eagle Pass, Texas, and Otay Mesa, California, were outliers on both ends of the spectrum. Growing US demand for Mexican beers helped push up northbound trucks entering the US through Eagle Pass by 49.2% year over year in the first quarter to 81,362 trucks. And the taps through which beers such as Modelo Especial flow on their way north are opening wider. Eagle Pass saw beer imports by value surge 10.9% last year to more than $1 billion, port statistics show. That increase is attributed to Constellation Brands, which imports and distributes Grupo Modelo beers in the US. In its fiscal year ending Feb. 28, publicly owned Constellation increased its beer shipments of 24-pack cases by 13.7 million, to 431.8 million. It helps that Grupo Modelo has a brewery in Piedras Negras, directly across the border from Eagle Pass. “That’s been a game changer for Eagle Pass,” Habe said. In contrast, northbound truck volumes at Otay Mesa, the port linking Mexico’s Baja California with Southern California, tumbled 34.9% in the first quarter from a year earlier, a drop blamed by logistics executives in part on high US tariffs on China as well as Mexico. “Otay Mesa production is focused around hi-tech assembly, such as flat screen televisions,” said Jordan Dewart, president of Mexico for Redwood Logistics. “The component parts come in via US ports and then are trucked down to Mexico,” he said. “I imagine they were hit hard by tariffs on goods from China and Southeast Asia.” Contact William B. Cassidy at <a href="mailto:bill.cassidy@spglobal.com">bill.cassidy@spglobal.com</a>.</div>

The US-Mexico border is seeing more frequent spikes and declines in freight volumes bound for the US as shippers try to navigate US tariffs. “We’re seeing ebbs and flows [in shipments] as people try to react to current conditions,” said Edward Habe, vice president of Mexico sales for Averitt, a regional less-than-truckload (LTL) carrier and logistics company based in Cookeville, Tennessee. Those ebbs and flows are clearly seen in monthly truck crossing data from the US Bureau of Transportation Statistics (BTS), with the number of northbound crossings rising 10.2% in January, dropping 6.3% in February, rising 12% in March and falling 4.5% in April. The ups and downs closely follow the introduction (Feb. 1), postponement (Feb. 3), reintroduction (March 4) and further postponement (March 6) of US tariffs on Mexico. Currently, the 25% tariff introduced in February is only imposed on goods that do not meet the US-Mexico-Canada trade agreement rules of origin for North American products. “We saw a huge push in preparation for the tariffs,” said Habe, whose company has four freight facilities along the US-Mexico border. “We opened an 85,000-square-foot fulfillment center in San Antonio late last year and in two months it was half filled by two companies.” At the end of May, Averitt saw another push that is starting to wane in June, Habe said, adding, “Shippers are trying to play a waiting game to see what happens with these tariffs.” Overall, that has constrained growth at four of the eight largest US-Mexico truck border crossings, pulling their collective northbound truck count down 3.5% year over year in the first quarter, while total US-bound truck crossings rose 1.3% in the same period. With each new tariff announcement from President Donald Trump, “we saw a lot of people trying to export as soon as possible,” said Gabriel Guajardo, director of the southern border for Echo Global Logistics. Now, “everyone’s holding their breath,” he added. Most of the eight largest US-Mexico truck crossings saw US-bound volumes rise or fall between a 3.1% loss and a 4.4% gain in the first quarter, the BTS data showed. The BTS does not track Mexico-bound volumes, but the ratio of northbound to southbound loads is generally 3:1 or 4:1, and even higher in peak seasons, such as produce season. At Laredo, Texas, the largest US border crossing for trucks, US-bound volumes in the first quarter declined 1.8% from a year ago. Volumes fell 2.8% in El Paso and Ysleta, Texas, and 3.1% in Brownsville. First-quarter volumes were flat in Hidalgo, Texas, but up 2% in Calexico East, California, and 4.4% higher in Nogales, Arizona. Beer flows north The border crossings at Eagle Pass, Texas, and Otay Mesa, California, were outliers on both ends of the spectrum. Growing US demand for Mexican beers helped push up northbound trucks entering the US through Eagle Pass by 49.2% year over year in the first quarter to 81,362 trucks. And the taps through which beers such as Modelo Especial flow on their way north are opening wider. Eagle Pass saw beer imports by value surge 10.9% last year to more than $1 billion, port statistics show. That increase is attributed to Constellation Brands, which imports and distributes Grupo Modelo beers in the US. In its fiscal year ending Feb. 28, publicly owned Constellation increased its beer shipments of 24-pack cases by 13.7 million, to 431.8 million. It helps that Grupo Modelo has a brewery in Piedras Negras, directly across the border from Eagle Pass. “That’s been a game changer for Eagle Pass,” Habe said. In contrast, northbound truck volumes at Otay Mesa, the port linking Mexico’s Baja California with Southern California, tumbled 34.9% in the first quarter from a year earlier, a drop blamed by logistics executives in part on high US tariffs on China as well as Mexico. “Otay Mesa production is focused around hi-tech assembly, such as flat screen televisions,” said Jordan Dewart, president of Mexico for Redwood Logistics. “The component parts come in via US ports and then are trucked down to Mexico,” he said. “I imagine they were hit hard by tariffs on goods from China and Southeast Asia.” Contact William B. Cassidy at bill.cassidy@spglobal.com .

Surface

Trucking News

US shippers ride ebb and flow of Mexican cross-border freight demand

<div class="phx-topic abstract-wrapper">Cargo landing at the country’s ports in July will be 20% higher than the forecast made just last month by the National Retail Federation and Hackett Associates. </div>

Cargo landing at the country’s ports in July will be 20% higher than the forecast made just last month by the National Retail Federation and Hackett Associates.

<div class="phx-topic">US retailers on Monday significantly upgraded import projections through August amid the temporary pauses in effect on the so-called reciprocal tariffs implemented by the Trump administration. Cargo landing at the country’s ports in July will be 20% higher than the <a href="https://www.joc.com/article/us-retailers-project-first-year-over-year-import-cut-in-19-months-as-tariffs-bite-6001817">forecast made in May</a> by the National Retail Federation (NRF) and Hackett Associates. Their June Global Port Tracker (GPT) shows the first upgrade to US import projections since February, before the first round of tariffs were announced in April. “Tariff reductions will lead to a surge in imports in June through August as importers take advantage of the various 90-day pauses,” Hackett Associates Founder Ben Hackett said. A pause on higher tariffs on most of the US’ trading partners is in effect until July 9, while the pause on the 145% tariff on imports from China is due to expire Aug. 14. The GPT’s updated forecast calls for July US imports of 2.13 million TEUs — up 20.3% from last month’s GPT but still well below the 2.32 million TEUs brought in during July 2024. Retailers expect August imports to reach 1.98 million TEUs, up 8.8% from May’s forecast. “[Shippers] are now looking to get those orders and cargo moving in order <a href="https://www.joc.com/article/ocean-carriers-bring-in-more-trans-pacific-container-services-amid-rate-surge-6012725">to bring as much merchandise</a> into the country as they can before the reciprocal tariff and additional China tariff pauses end in July and August,” said Jonathan Gold, NRF’s vice president for Supply Chain and Customs Policy. June import projections were also upgraded from the May GPT, with retailers expecting 17.5% higher volumes at 2.01 million TEUs. Preliminary May volumes of 1.91 million TEUs are expected to be 5.5% higher than forecast last month. <h3>A soft Q4 </h3>But the summer surge is expected to end given the uncertainty over what will happen once the temporary tariff reprieves expire. Retailers slightly downgraded import expectations for September to 1.78 million TEUs, which would also be a 21.6% drop compared with the year-ago month. And in its initial forecast for October, the GPT projects imports of 1.8 million TEUs, almost 20% lower than October 2024. “The peak for the winter holidays will come early this year, making it simultaneous with the peak for the back-to-school season,” Hackett said. “If higher tariffs are not delayed again, we can expect the final four months of the year to see declining volumes of imports.” The updated forecast brings the first-half projection for US imports to 12.54 million TEUs, up 3.4% from expectations made in May and 3.7% higher than actual first-half 2024 volumes. The GPT is published monthly using import data collected from 13 ports on the US East, West and Gulf coasts. Contact Laura Robb at <a href="mailto:Laura.Robb@spglobal.com">laura.robb@spglobal.com</a>.  </div>

US retailers on Monday significantly upgraded import projections through August amid the temporary pauses in effect on the so-called reciprocal tariffs implemented by the Trump administration. Cargo landing at the country’s ports in July will be 20% higher than the forecast made in May by the National Retail Federation (NRF) and Hackett Associates. Their June Global Port Tracker (GPT) shows the first upgrade to US import projections since February, before the first round of tariffs were announced in April. “Tariff reductions will lead to a surge in imports in June through August as importers take advantage of the various 90-day pauses,” Hackett Associates Founder Ben Hackett said. A pause on higher tariffs on most of the US’ trading partners is in effect until July 9, while the pause on the 145% tariff on imports from China is due to expire Aug. 14. The GPT’s updated forecast calls for July US imports of 2.13 million TEUs — up 20.3% from last month’s GPT but still well below the 2.32 million TEUs brought in during July 2024. Retailers expect August imports to reach 1.98 million TEUs, up 8.8% from May’s forecast. “[Shippers] are now looking to get those orders and cargo moving in order to bring as much merchandise into the country as they can before the reciprocal tariff and additional China tariff pauses end in July and August,” said Jonathan Gold, NRF’s vice president for Supply Chain and Customs Policy. June import projections were also upgraded from the May GPT, with retailers expecting 17.5% higher volumes at 2.01 million TEUs. Preliminary May volumes of 1.91 million TEUs are expected to be 5.5% higher than forecast last month. A soft Q4 But the summer surge is expected to end given the uncertainty over what will happen once the temporary tariff reprieves expire. Retailers slightly downgraded import expectations for September to 1.78 million TEUs, which would also be a 21.6% drop compared with the year-ago month. And in its initial forecast for October, the GPT projects imports of 1.8 million TEUs, almost 20% lower than October 2024. “The peak for the winter holidays will come early this year, making it simultaneous with the peak for the back-to-school season,” Hackett said. “If higher tariffs are not delayed again, we can expect the final four months of the year to see declining volumes of imports.” The updated forecast brings the first-half projection for US imports to 12.54 million TEUs, up 3.4% from expectations made in May and 3.7% higher than actual first-half 2024 volumes. The GPT is published monthly using import data collected from 13 ports on the US East, West and Gulf coasts. Contact Laura Robb at laura.robb@spglobal.com . 

Transport, Trade and Regulation News

Pause on tariffs prompts US retailers to upgrade summer import forecast

<div class="phx-topic abstract-wrapper">In a 10-page notice published Friday, the USTR said it was now proposing a fee of $14 per net ton on foreign-built vehicle carriers, including roll-on/roll-off (ro/ro) vessels, arriving in US waters.</div>

In a 10-page notice published Friday, the USTR said it was now proposing a fee of $14 per net ton on foreign-built vehicle carriers, including roll-on/roll-off (ro/ro) vessels, arriving in US waters.

<div class="phx-topic">Vehicle carrier operators, including Wallenius Wilhelmsen and Höegh Autoliners, face changes in the way the United States Trade Representative (USTR) plans to impose levies on ships entering US waters beginning in October. In a 10-page notice published Friday, the USTR said it was now proposing a fee of $14 per net ton on foreign-built vehicle carriers, including roll-on/roll-off (ro/ro) vessels, arriving in US waters. That would replace an earlier proposal announced by USTR on April 17 charging vessel operators $150 per car equivalent unit (CEU) for non-US-built vessels entering US waters. Despite the change, vessel operators still face millions in extra voyage costs. Jennifer Thornton, USTR general counsel, indicated the change was partly being made because it was easier to apply. The change from CEUs to net tonnage is “to address administrability and in light of the potential for fee evasion,” Thornton said in Friday’s notice, which also opened a public comment period on the planned change. The comment period closes July 7. Net tonnage is the volume of the cargo-carrying space within a ship while CEU is a measure of carrying capacity. It was a public holiday in Norway Monday, so executives at both Wallenius Wilhelmsen and Höegh were not available to comment on the impact of the revised USTR charge. US-based executives from both companies either declined to comment or did not respond to requests for comment. <h3>Will seek to pass new costs to customers </h3>Wallenius Wilhelmsen had previously said a levy based on CEU capacity would make it liable for about $300 million a year in additional voyage fees, assuming 300 to 350 voyages to the US per year. Höegh estimated its potential exposure to the USTR’s original plan at between $60 million and $70 million a year. Both operators said they would seek to pass the fees to customers, although acknowledged they could absorb the extra costs if necessary. Other major carriers with extensive US vehicle import business affected by the USTR measure include Japanese operators “K” Line, Mitsui OSK Lines and NYK Line and South Korea’s Hyundai Glovis. Thornton said the fees would not apply to US government cargo or vessels operated directly for the US government by an agent or contractor. That potentially includes ships operated by Wallenius Wilhelmsen’s US ro/ro subsidiary American Roll-on Roll-off Carrier (ARC) which handles military and diplomatic-related shipments of equipment, vehicles and household belongings. Revenues from its government business accounted for 11%, or $107 million, of Wallenius’ total revenues of $970 million in the first quarter. During first-quarter results presentations, both Wallenius Wilhelmsen and Höegh Autoliners said they would lobby US authorities to seek adjustments to the levies, which were announced as part of a wider package of measures by USTR that imposed fees on all China-built or -operated vessels calling at US ports from Oct. 14. Contact Keith Wallis at <a href="mailto:keithwallis@hotmail.com">keithwallis@hotmail.com</a>. </div>

Vehicle carrier operators, including Wallenius Wilhelmsen and Höegh Autoliners, face changes in the way the United States Trade Representative (USTR) plans to impose levies on ships entering US waters beginning in October. In a 10-page notice published Friday, the USTR said it was now proposing a fee of $14 per net ton on foreign-built vehicle carriers, including roll-on/roll-off (ro/ro) vessels, arriving in US waters. That would replace an earlier proposal announced by USTR on April 17 charging vessel operators $150 per car equivalent unit (CEU) for non-US-built vessels entering US waters. Despite the change, vessel operators still face millions in extra voyage costs. Jennifer Thornton, USTR general counsel, indicated the change was partly being made because it was easier to apply. The change from CEUs to net tonnage is “to address administrability and in light of the potential for fee evasion,” Thornton said in Friday’s notice, which also opened a public comment period on the planned change. The comment period closes July 7. Net tonnage is the volume of the cargo-carrying space within a ship while CEU is a measure of carrying capacity. It was a public holiday in Norway Monday, so executives at both Wallenius Wilhelmsen and Höegh were not available to comment on the impact of the revised USTR charge. US-based executives from both companies either declined to comment or did not respond to requests for comment. Will seek to pass new costs to customers Wallenius Wilhelmsen had previously said a levy based on CEU capacity would make it liable for about $300 million a year in additional voyage fees, assuming 300 to 350 voyages to the US per year. Höegh estimated its potential exposure to the USTR’s original plan at between $60 million and $70 million a year. Both operators said they would seek to pass the fees to customers, although acknowledged they could absorb the extra costs if necessary. Other major carriers with extensive US vehicle import business affected by the USTR measure include Japanese operators “K” Line, Mitsui OSK Lines and NYK Line and South Korea’s Hyundai Glovis. Thornton said the fees would not apply to US government cargo or vessels operated directly for the US government by an agent or contractor. That potentially includes ships operated by Wallenius Wilhelmsen’s US ro/ro subsidiary American Roll-on Roll-off Carrier (ARC) which handles military and diplomatic-related shipments of equipment, vehicles and household belongings. Revenues from its government business accounted for 11%, or $107 million, of Wallenius’ total revenues of $970 million in the first quarter. During first-quarter results presentations, both Wallenius Wilhelmsen and Höegh Autoliners said they would lobby US authorities to seek adjustments to the levies, which were announced as part of a wider package of measures by USTR that imposed fees on all China-built or -operated vessels calling at US ports from Oct. 14. Contact Keith Wallis at keithwallis@hotmail.com .

Breakbulk News

Ro/ro cargo

Car carrier operators face changes to USTR voyage fee plans

<div class="phx-topic abstract-wrapper">TRAC Intermodal, DCLI and FlexiVan Leasing began unstacking chassis shortly after the Trump administration last month announced a 90-day pause on the 145% tariffs on Chinese imports.</div>

TRAC Intermodal, DCLI and FlexiVan Leasing began unstacking chassis shortly after the Trump administration last month announced a 90-day pause on the 145% tariffs on Chinese imports.

<div class="phx-topic">As an expected wave of imports from China begins arriving at US ports in the coming weeks, the country’s three largest marine chassis providers say they are pulling idle equipment from storage, inspecting and repairing units, and repositioning chassis to key inland hubs to avoid a repeat of the shortages seen during the pandemic. TRAC Intermodal, DCLI and FlexiVan Leasing, the US’ top three lessors by fleet size, respectively, began unstacking chassis shortly after the Trump administration last month announced a 90-day pause on the 145% tariffs on Chinese imports. TRAC owns more than 200,000 marine chassis, while DCLI has about 140,000 units and FlexiVan about 120,000. None of the companies disclosed the number of chassis they’ve taken out of long-term storage, but each said the total is in the “tens of thousands.” “Our current utilization, our working fleet, is rather soft,” said Val Noel, chief operating officer of TRAC. “But we think this could be a little bit like a tsunami, and we want to have extra capacity to make sure we don’t have any service disruptions.” TRAC will focus on repairing and positioning chassis in Chicago, Dallas and Memphis. Noel said chassis placed into Memphis can be redeployed to Kansas City, St. Louis and Omaha, if necessary, while chassis in Chicago can be redirected to the Ohio Valley. DCLI began unstacking equipment in Southern California days after the tariff pause announcement and has since expanded the process to inland locations including Chicago, Dallas and Memphis. “We have safety stocks in place in key markets and are working with our vendors to ensure we have the repair capacity necessary to respond to this demand,” said Mike O’Malley, DCLI’s senior vice president of government and public relations. FlexiVan, which is exiting Southern California’s Pool of Pools, has focused on ensuring chassis availability for its core partner, Ocean Network Express (ONE). “[We are] working continuously to get pool chassis into a ready to use condition and fleeted into our private pool for ONE and other customers,” Flexi said in a statement to the Journal of Commerce. FlexiVan in late April opened its new private chassis pool serving the ports of Los Angeles and Long Beach, with FlexiVan Pool “designed to enhance our service capabilities for carriers and customers.” <h3>Getting repairs done now </h3>The chassis providers emphasized that pulling equipment out of long-term storage is not a one-day process. Units stacked for months, sometimes years, must undergo full inspections and safety checks, and in many cases, minor repairs before they are roadworthy. It can take several weeks to check lighting systems, brake lines, tires and structural components that can rust, corrode or suffer other weather-related fatigue. Technicians must also be available in sufficient numbers, and often work overtime, to meet repair deadlines. DCLI said it’s better prepared than during the pandemic because it did not significantly scale back repair operations with repair vendors when the market softened. DCLI said it learned how important it is to keep mechanics working even as volumes soften because widespread layoffs require rehiring and training later, which makes it difficult to complete repairs before a cargo surge. As a result, DCLI believes it can quickly inspect, repair and certify idle chassis without having to rebuild labor capacity from scratch. <h3>Communication is key </h3>Knowing when and where to deploy repaired units is crucial to prevent equipment shortages. Chassis providers rely on cargo forecasts from ocean carriers, railroads and shippers and data from the US Department of Transportation’s Freight Logistics Optimization Works (FLOW) initiative to position chassis ahead of surges. Under normal conditions, imports going to secondary cities such as Cincinnati, Columbus or St. Louis can be part of a block within a larger train to Chicago or Kansas City. During a surge, however, those cities may receive dedicated trains with double or triple the usual number of containers, flooding local terminals and straining chassis availability. “That’s one of the things that has beaten us in the past,” Noel acknowledged. “Normally a city might get a 3,000-foot block of containers, and during a surge it’s a 10,000-foot train. Both of our western roads (BNSF Railway and Union Pacific Railroad) have been super in partnering with us, letting us know what’s coming so we can be prepared.” The landscape has also changed in recent years in ways that may increase supply chain resiliency. More trucking companies and cargo owners now operate private chassis fleets, reducing their reliance on shared pool equipment. Railroads have also adjusted terminal operations, placing more import containers into grounded stacks, allowing cargo owners to retrieve loads using their own equipment and easing pressure on the public pools managed by DCLI, TRAC, and FlexiVan. Contact Ari Ashe at <a href="mailto:ari.ashe@spglobal.com">ari.ashe@spglobal.com</a>.</div>

As an expected wave of imports from China begins arriving at US ports in the coming weeks, the country’s three largest marine chassis providers say they are pulling idle equipment from storage, inspecting and repairing units, and repositioning chassis to key inland hubs to avoid a repeat of the shortages seen during the pandemic. TRAC Intermodal, DCLI and FlexiVan Leasing, the US’ top three lessors by fleet size, respectively, began unstacking chassis shortly after the Trump administration last month announced a 90-day pause on the 145% tariffs on Chinese imports. TRAC owns more than 200,000 marine chassis, while DCLI has about 140,000 units and FlexiVan about 120,000. None of the companies disclosed the number of chassis they’ve taken out of long-term storage, but each said the total is in the “tens of thousands.” “Our current utilization, our working fleet, is rather soft,” said Val Noel, chief operating officer of TRAC. “But we think this could be a little bit like a tsunami, and we want to have extra capacity to make sure we don’t have any service disruptions.” TRAC will focus on repairing and positioning chassis in Chicago, Dallas and Memphis. Noel said chassis placed into Memphis can be redeployed to Kansas City, St. Louis and Omaha, if necessary, while chassis in Chicago can be redirected to the Ohio Valley. DCLI began unstacking equipment in Southern California days after the tariff pause announcement and has since expanded the process to inland locations including Chicago, Dallas and Memphis. “We have safety stocks in place in key markets and are working with our vendors to ensure we have the repair capacity necessary to respond to this demand,” said Mike O’Malley, DCLI’s senior vice president of government and public relations. FlexiVan, which is exiting Southern California’s Pool of Pools, has focused on ensuring chassis availability for its core partner, Ocean Network Express (ONE). “[We are] working continuously to get pool chassis into a ready to use condition and fleeted into our private pool for ONE and other customers,” Flexi said in a statement to the Journal of Commerce. FlexiVan in late April opened its new private chassis pool serving the ports of Los Angeles and Long Beach, with FlexiVan Pool “designed to enhance our service capabilities for carriers and customers.” Getting repairs done now The chassis providers emphasized that pulling equipment out of long-term storage is not a one-day process. Units stacked for months, sometimes years, must undergo full inspections and safety checks, and in many cases, minor repairs before they are roadworthy. It can take several weeks to check lighting systems, brake lines, tires and structural components that can rust, corrode or suffer other weather-related fatigue. Technicians must also be available in sufficient numbers, and often work overtime, to meet repair deadlines. DCLI said it’s better prepared than during the pandemic because it did not significantly scale back repair operations with repair vendors when the market softened. DCLI said it learned how important it is to keep mechanics working even as volumes soften because widespread layoffs require rehiring and training later, which makes it difficult to complete repairs before a cargo surge. As a result, DCLI believes it can quickly inspect, repair and certify idle chassis without having to rebuild labor capacity from scratch. Communication is key Knowing when and where to deploy repaired units is crucial to prevent equipment shortages. Chassis providers rely on cargo forecasts from ocean carriers, railroads and shippers and data from the US Department of Transportation’s Freight Logistics Optimization Works (FLOW) initiative to position chassis ahead of surges. Under normal conditions, imports going to secondary cities such as Cincinnati, Columbus or St. Louis can be part of a block within a larger train to Chicago or Kansas City. During a surge, however, those cities may receive dedicated trains with double or triple the usual number of containers, flooding local terminals and straining chassis availability. “That’s one of the things that has beaten us in the past,” Noel acknowledged. “Normally a city might get a 3,000-foot block of containers, and during a surge it’s a 10,000-foot train. Both of our western roads (BNSF Railway and Union Pacific Railroad) have been super in partnering with us, letting us know what’s coming so we can be prepared.” The landscape has also changed in recent years in ways that may increase supply chain resiliency. More trucking companies and cargo owners now operate private chassis fleets, reducing their reliance on shared pool equipment. Railroads have also adjusted terminal operations, placing more import containers into grounded stacks, allowing cargo owners to retrieve loads using their own equipment and easing pressure on the public pools managed by DCLI, TRAC, and FlexiVan. Contact Ari Ashe at ari.ashe@spglobal.com .

North American ports

Drayage

US chassis providers getting equipment ready for US import surge

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The world of LTL is slow to embrace change. Business anachronisms permeate current supply chain processes. These vestiges of the way things used to work define the LTL freight transportation procurement process of many modern shippers.David Knuth, logistics specialist at IEWC, a global supplier of cable and wire based in Wisconsin, is happy to have modernized the RFP process, automating the entire LTL bidding procedure with Bid$ense, SMC³’s automated truckload and LTL freight transportation sourcing solution. But when prompted, he can still recall what once was.In his previous job, a large part of his duties were consumed by creating an intermodal bid package for carriers. In a spreadsheet, Knuth detailed the company’s volumes lane by lane, taking care to delete any errant keystrokes or misleading data. He would then email out the information to each carrier, taking time to respond to detailed technical questions about the spreadsheet data. Finally, he had to compile all the results, create an algorithm that would compare the carriers on each lane, and award the business.“It was a huge undertaking. It took about four months to do,” Knuth said of the old process. “It was almost a full-time job for that part of the year, every year.”In his new job at IEWC, he sat down with Bid$ense on day one and was amazed at the capabilities. Knuth had never before used a bid tool. SMC³’s latest versions of Bid$ense automate the process even further, taking truckload and LTL RFPs entirely online. The tool draws on RFP best-practices protocols to streamline the bidding communication process, enabling bidding carriers to respond accurately and promptly to shipper requests. The solution also does all the distribution work automatically, electronically submitting shipper bid data to carriers based on their actual service capabilities and performance records. Carriers are alerted with timely prompts for RFP deliverables, so shippers aren’t waiting by the phone for responses.Another benefit of automating the process is the data-cleansing assistance. When Knuth sent spreadsheets to carriers, data errors might cloud the bidding process; he might have to resend data or simply accept a price that did not truly reflect the costs of doing business. Data cleansing is incredibly beneficial, he said.The spreadsheet technique also made bidding analysis an onerous task. Since Bid$ense automates and streamlines the entire RFP process, intensive examination is now simple. SMC³ knows that each bid has more than one best outcome. With uniform responses from each carrier, shippers can quickly rank results and create an unlimited quantity of what-if scenarios to make the optimal procurement decision.Jesse Burnett of Central Garden &amp; Pet experiences many of the same benefits. Founded in 1980, Central Garden &amp; Pet has spent the last three decades growing from a small garden supply company to a provider of a range of products from dog chews and bird seed to soil supplements and natural insecticides. For much of its life, the company shipped these disparate goods via LTL and truckload carriers to retailers throughout the country, relying on each business unit to negotiate directly with their freight transportation providers. This arrangement worked fairly well for a small company, but as Central Garden &amp; Pet expanded, leadership decided to consolidate decision making.Burnett helped centralize the transportation decision making in 2015 with SMC³’s Bid$ense. Before Bid$ense, every business unit operated independently as far as negotiating with carriers.“There were a lot of different things just floating around,” he said. “We didn’t have master agreements in place; no national pricing at all. The pricing from carriers was just all over the place, depending on where you were.”The transformations he saw with Bid$ense were immediate. Burnett has been using the tool about every other year since its implementation at the company. Central Garden and Pet’s $19.6 million 2019 LTL bid saved the company just more than 9 percent when compared to its historical average. For Burnett, though, bid automation extends far beyond savings.“We knew that we weren’t getting the best pricing offer from our carriers just because nothing was centralized,” he continued. “We knew that if we combined everything from all these business units and paired it with one corporate offering, then it would drive some cost benefit with it.”When the company initially decided to centralize bid procurement, executives researched a number of different methodologies and technologies. In the end, though, Burnett found that Bid$ense was both widespread and well known, and that his carrier partners already knew how to use the application. Burnett also highlighted the data-cleansing process as a major benefit, saying the rigorous process ensures that carriers always return the best price.“It definitely has helped drive savings,” he said. “Any time you go out there and you drive that competitiveness with the carriers and they know they’re in a bid environment, it seems to sharpen their pencils.”Transportation procurement is an integral part of the modern supply chain. With Bid$ense, shippers can develop a strategic implementation plan that saves them time and money, but also helps them create strong relationships with their carrier partners. These carriers appreciate the solution’s data-cleansing process; when carriers receive a complete shipment history and future volume forecast, they don’t have to guess on pricing. Carriers that receive more data from shippers get a complete picture of that shipper’s freight, allowing them to accurately plan instead of simply preparing for the worst-case scenario. Clean data presented through an automated system can lead to both bigger shipment savings and a lasting partnership between carrier and customer.Whether customers are looking to streamline over-the-road transportation bidding by automating the RFP process or create an entirely new, centralized sourcing process, Bid$ense has the analytical horsepower to get the job done.SMC³ 2020 Customer Case Study

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Shippers save money, time with automated transportation bidding tools

If there’s one immutable truth in the world of logistics, it’s this: LTL is an inherently complex form of transportation. Tariffs, rates, DIM weights, transit times — it’s enough to confuse even seasoned logistics professionals. The solution to this knowledge gap has historically been on-the-job training or university supply chain education, but for a variety of reasons there is now a pressing need for third-party, remote LTL training that prepares logistics workers for transportation success. Global Scope Can Overlook Local Intricacies In the past, professionals looking to move into a supply chain career learned about the basics of supply chain from universities. However, many of these college supply chain programs are now global in scope, focusing on worldwide supply chain management instead of the intricacies of specialized domestic transportation. And even these programs, which used to be widespread, are becoming less common. LTL is not an industry of broad-brush strokes; supply chain professionals really need a pointillistic understanding of the logistics of LTL in order to excel in the industry. Accelerating Need for Dedicated LTL Education This lack of specified training put the onus on employers to prepare new hires with the LTL knowledge needed to do their jobs. Dedicated LTL study is a necessity, not a luxury. At the same time, changes in LTL and the broader supply chain world are accelerating. The reliance on e-commerce has ballooned since the start of the pandemic, and last-mile LTL shipments and related e-commerce strains on the supply chain won’t diminish once social distancing abates. That genie isn’t going back into the bottle. So supply chain employers need logistics workers that are fully versed in all aspects of the industry, ready to solve unique shipping and delivery problems based on their extensive supply chain knowledge But why care about LTL? It’s been reported that some shippers in today’s world are no longer concerned with what mode is used to ship their goods. A Multimodal Approach Ensures On-Time Delivery This mode agnosticism means supply chain stakeholders have to be well versed in all modes of transportation. As unforeseen weather events and other disruptions, such as protests, become more common, savvy logistics employees will need to be armed with familiarity of all modes, not just the most popular, to ensure that freight is delivered on time, without damage, and in the most financially expedient way possible. Offerings like SMC³’s LTL online education courses cover a wide range of topics from LTL basics and operations to more advanced concepts like pricing analytics and transportation law. The company also has plans to continually refresh content, adding new expert presenters and taking the feedback of students to make the courses even better as time goes on. Learn more about&nbsp;<a href="https://logisticstrainingcenter.com/smc3-courses/" rel="noreferrer" class="joc_admin__link">SMC³’s LTL Online Education program</a>&nbsp;and view the 2021 hybrid schedule, featuring live industry experts,&nbsp;<a href="https://www.smc3.com/onlinelearning2021/" rel="noreferrer" class="joc_admin__link">here.</a>

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Filling the Supply Chain Education Gap with LTL Education Courses

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