<div class="phx-topic abstract-wrapper">Rail carloads have big intermodal implications because if carloads aren’t growing, more pressure is put on the intermodal sector to deliver the goods, in terms of volume and revenue.</div>

Rail carloads have big intermodal implications because if carloads aren’t growing, more pressure is put on the intermodal sector to deliver the goods, in terms of volume and revenue.

<div>According to Mark Twain, Benjamin Disraeli — the UK prime minister in the 1860s and 1870s — once said, “There are three kinds of lies: lies, damn lies, and statistics.” Statistics are a critical tool we all use to keep track of our performance and understand basic trends. But sometimes the normal statistics we use routinely to gauge progress, although technically accurate, can provide an inaccurate impression to those who don’t take the time to dig a little deeper. Such is the case with current statistics concerning an ongoing recovery in rail carload volumes. What’s going on with rail carloads...

According to Mark Twain, Benjamin Disraeli — the UK prime minister in the 1860s and 1870s — once said, “There are three kinds of lies: lies, damn lies, and statistics.” Statistics are a critical tool we all use to keep track of our performance and understand basic trends. But sometimes the normal statistics we use routinely to gauge progress, although technically accurate, can provide an inaccurate impression to those who don’t take the time to dig a little deeper. Such is the case with current statistics concerning an ongoing recovery in rail carload volumes. What’s going on with rail carloads has big intermodal implications because if carloads aren’t growing, it puts more pressure on the intermodal sector to deliver the goods, in terms of volume and revenue. Often one of the first measures used to gauge the health of any business or market is the year-over-year comparison. There are good reasons for its popularity. Most importantly, the comparison washes out seasonal effects because we’re comparing like time frames in each year. Based on the year-over-year measurement, the news is great, and rail carloads are in growth mode. As this column was written, total North American rail carload volume (excluding intermodal) was up a whopping 9.6 percent over the most recent four-week period compared with the same four weeks in 2016. What’s not to like? The problem with the year-over-year measure is that it only tells us the change in volume over the past 12 months but says nothing about when during that 12-month time frame the change occurred. This often is of little consequence because a market is growing steadily. But sometimes it matters a great deal, and this is one of those cases. [Editorial note: image removed/no longer available] Exhibit 1, which tracks carloads per week as reported by the Association of American Railroads, reveals the problem. Carload activity is indeed running well above this time last year, producing those attractive year-over-year gains. But the recovery occurred long ago, during the second quarter of 2016. Setting aside the normal end-of-year holiday season lull, the carload trend has been flat to down since the middle of last year. But we need to dig a little deeper, because these figures are raw and not adjusted for seasonality. Just how much does carload activity vary across the seasons? Certainly, individual commodities can have a great deal of seasonal variance. For instance, grain peaks late in the year, when the harvest moves. But when you put all 20 of the reported commodities together in a bundle, the result is a diversified portfolio that doesn’t have a lot of seasonal variation. [Editorial note: image removed/no longer available] Exhibit 2 shows the percentage of annual volume that has been handled in each of the 52 weeks of the year over the last 10 years. (I’ve excluded 2008 and 2009 because of the distorting effects of the financial crisis downturn). On average, the latest week (the 17th of the year) accounts for 1.97 percent of annual volume. This figure rises to about 2.01 percent from week 30 to 46. Thus a “peak season” week only generates about 2 percent more activity on average than where we are today. The message is that we can’t count on a seasonal increase from current levels to change the picture dramatically. In fact, a normal 2 percent seasonal increase won’t bring activity levels up to where we were during last year’s fourth quarter, and the year-over-year comparison will go negative once again. The intermodal statistics aren’t showing the same problem. Growth hasn’t been concentrated in just one quarter, but volume has been generally moving up over time. The average JOC.com reader might ask, “So what? Why should I be concerned with what is happening to rail carloads?” It matters because railroading is a network business with high fixed costs. It needs lots of volume moving across the network to spread all those fixed costs. Although intermodal is now the largest single commodity moving on the rails, it can’t be relied upon to fill the gap alone. This is particularly true because the average intermodal container generates only about one-third of the revenue of the average carload. For intermodal to continue to thrive and receive the needed investment, the railroads need to stay healthy. Reinvigorating the carload sector is one part of the picture. Although the industry can cut and economize its way to short-term success in the near term, a growing carload franchise is a key ingredient for the industry’s long-term well-being. Lawrence J. Gross is president of Gross Transportation Consulting in Mahwah, New Jersey, and a partner at FTR Transportation Intelligence. A veteran with 34 years in the transportation business, he covers freight transportation, concentrating on the intermodal and trucking sectors from a transportation and equipment perspective. He is a frequent speaker at industry events. Contact him at ljgross@optonline.net and follow him on Twitter: @intermodalist .

Rail News

Why carloads matter to intermodal

<div class="phx-topic abstract-wrapper">The reasons for the increase are largely tariff-related, sources say, as market participants adjust to the possibility of permanently higher tariff levels imposed by the Trump administration.</div>

The reasons for the increase are largely tariff-related, sources say, as market participants adjust to the possibility of permanently higher tariff levels imposed by the Trump administration.

Feature image

<div class="phx-topic">Growing volumes of trans-Pacific eastbound spot cargo are being controlled at origin countries like China as the impact of US tariffs bores deeply into shipping practices, sources tell the Journal of Commerce. The reasons for a noticeable increase in origin-controlled container trade are largely tariff-related, sources said, as parties to trade transactions adjust to possibly permanently higher tariff levels imposed by the Trump Administration. Origin-controlled cargo means the purchasing of ocean transportation is done by parties in exporting countries such as China, for example, rather than in the US. “At Toll Group, we are observing a slight upward trend in origin-controlled cargo,” said Marc Meier, Toll’s global head of ocean freight. “This trend appears to be influenced by factors such as the current supply and demand situation, where supply is notably higher than demand, as well as ongoing tariff discussions.” Meier said Toll’s origin-controlled cargo is now about 35% of its total cargo compared to 20% a few years ago. “We believe going forward, it might be 40-45%,” he said. Others see the trend also. “I have noticed a significant shift in the traditional mix of our smaller volume shippers where there is more Asia controlled/nominated shipments as a percent of our overall weekly bookings…this has been going on for the last five to six months,” said Kurt McElroy, executive vice president at the forwarder Kerry Apex. McElroy said the shift could be due to “smaller importers choosing to buy DDP (delivery duty paid) and leaving the duty uncertainty to the shipper.” “Volatile freight rates could also be a contributing factor in small importers’ decisions to have terms of sale (DDP or cost-insurance-freight), instead of typical (free-on-board) terms of sale,” he said. Under DDP terms, the seller bears all shipping and customs costs until it delivers the goods to the buyer, having cleared customs as the named place of destination. Another possible reason for growth in origin-controlled spot cargo is the growing ease of booking using online tools from carriers such as Maersk, Hapag Lloyd and CMA-CGM, who sources say are allocating greater amounts of their vessel space to online channels. McElroy said the volatile market could also be prompting large US retailers to seek DDP terms from their suppliers versus receiving such goods at origin and shipping them under their own contracts. “Big box retailers like Walmart, when ocean rates are not as volatile, will want to purchase FOB from their smaller suppliers and move under their own contract,” McElroy said. “Yet, when rates get volatile…on the upswing, and space tightens, along with duty uncertainty, Walmart will choose to have small suppliers ship to Walmart distribution centers CIF and not allow price increases. They have such leverage with smaller suppliers to accept these kind of terms.” <h3>Contract market shifting from US control? </h3> Few are seeing the contract market shift from US control, but some see it coming. “In the trans-Pacific trade, there has been a view that importers of goods into the USA were the major buyers of freight as they purchased goods from manufacturers in Asia FOB and controlled the import supply chain into the USA,” said Lian Hoon Lim, Singapore-based partner and managing director of Alix Partners, which has a long history in ocean freight. “So carriers naturally gave priority to marketing and selling freight to the ‘FOB buyer’ over the exporter in Asia who was labelled the ‘CIF buyer,’” he added. “Ten to 15 years ago that was very true for pretty much everything that came out of China, and that you could price up somewhat for FOB cargo vs CIF.” But as Chinese companies emerge as sellers of goods under their own brand names, the ocean freight landscape will begin to change. “If you look at South Korea and Japan, as their exporting companies became big enough and more adventurous and spread their wings overseas, they established sales units in the US and Europe,” Lim said. “So instead of exporting their goods to third-party distributors, they sold to their own sales companies in the US and Europe. At that point the FOB vs CIF issue becomes moot, because the control of the freight passes over to those companies and if their (headquarters) are in Japan or Korea or China, they are more likely to buy freight there versus at destination. “I can easily imagine that at some point in time, companies like Huawei saying we have a sales company in the US or Europe and that we should take control of long-distance shipments ourselves, and when that happens you can easily see the freight buying shifting from destination to origin,” Lim added. Contact Peter Tirschwell at <a href="mailto:peter.tirschwell@spglobal.com">peter.tirschwell@spglobal.com</a>. </div>

Growing volumes of trans-Pacific eastbound spot cargo are being controlled at origin countries like China as the impact of US tariffs bores deeply into shipping practices, sources tell the Journal of Commerce. The reasons for a noticeable increase in origin-controlled container trade are largely tariff-related, sources said, as parties to trade transactions adjust to possibly permanently higher tariff levels imposed by the Trump Administration. Origin-controlled cargo means the purchasing of ocean transportation is done by parties in exporting countries such as China, for example, rather than in the US. “At Toll Group, we are observing a slight upward trend in origin-controlled cargo,” said Marc Meier, Toll’s global head of ocean freight. “This trend appears to be influenced by factors such as the current supply and demand situation, where supply is notably higher than demand, as well as ongoing tariff discussions.” Meier said Toll’s origin-controlled cargo is now about 35% of its total cargo compared to 20% a few years ago. “We believe going forward, it might be 40-45%,” he said. Others see the trend also. “I have noticed a significant shift in the traditional mix of our smaller volume shippers where there is more Asia controlled/nominated shipments as a percent of our overall weekly bookings…this has been going on for the last five to six months,” said Kurt McElroy, executive vice president at the forwarder Kerry Apex. McElroy said the shift could be due to “smaller importers choosing to buy DDP (delivery duty paid) and leaving the duty uncertainty to the shipper.” “Volatile freight rates could also be a contributing factor in small importers’ decisions to have terms of sale (DDP or cost-insurance-freight), instead of typical (free-on-board) terms of sale,” he said. Under DDP terms, the seller bears all shipping and customs costs until it delivers the goods to the buyer, having cleared customs as the named place of destination. Another possible reason for growth in origin-controlled spot cargo is the growing ease of booking using online tools from carriers such as Maersk, Hapag Lloyd and CMA-CGM, who sources say are allocating greater amounts of their vessel space to online channels. McElroy said the volatile market could also be prompting large US retailers to seek DDP terms from their suppliers versus receiving such goods at origin and shipping them under their own contracts. “Big box retailers like Walmart, when ocean rates are not as volatile, will want to purchase FOB from their smaller suppliers and move under their own contract,” McElroy said. “Yet, when rates get volatile…on the upswing, and space tightens, along with duty uncertainty, Walmart will choose to have small suppliers ship to Walmart distribution centers CIF and not allow price increases. They have such leverage with smaller suppliers to accept these kind of terms.” Contract market shifting from US control? Few are seeing the contract market shift from US control, but some see it coming. “In the trans-Pacific trade, there has been a view that importers of goods into the USA were the major buyers of freight as they purchased goods from manufacturers in Asia FOB and controlled the import supply chain into the USA,” said Lian Hoon Lim, Singapore-based partner and managing director of Alix Partners, which has a long history in ocean freight. “So carriers naturally gave priority to marketing and selling freight to the ‘FOB buyer’ over the exporter in Asia who was labelled the ‘CIF buyer,’” he added. “Ten to 15 years ago that was very true for pretty much everything that came out of China, and that you could price up somewhat for FOB cargo vs CIF.” But as Chinese companies emerge as sellers of goods under their own brand names, the ocean freight landscape will begin to change. “If you look at South Korea and Japan, as their exporting companies became big enough and more adventurous and spread their wings overseas, they established sales units in the US and Europe,” Lim said. “So instead of exporting their goods to third-party distributors, they sold to their own sales companies in the US and Europe. At that point the FOB vs CIF issue becomes moot, because the control of the freight passes over to those companies and if their (headquarters) are in Japan or Korea or China, they are more likely to buy freight there versus at destination. “I can easily imagine that at some point in time, companies like Huawei saying we have a sales company in the US or Europe and that we should take control of long-distance shipments ourselves, and when that happens you can easily see the freight buying shifting from destination to origin,” Lim added. Contact Peter Tirschwell at peter.tirschwell@spglobal.com .

Maritime

Supply chain

Container Shipping News

Trans-Pacific

Tariff realities prompt growth in ‘origin-controlled’ cargo on trans-Pacific

<div class="phx-topic abstract-wrapper">The National Motor Freight Traffic Association will oversee development of a truckload scheduling initiative among the Scheduling Standards Consortium’s 17 existing members.</div>

The National Motor Freight Traffic Association will oversee development of a truckload scheduling initiative among the Scheduling Standards Consortium’s 17 existing members.

<div class="phx-topic">The National Motor Freight Traffic Association (NMFTA) has taken over management of a consortium of freight brokers and technology providers developing standards for truckload appointment scheduling. NMFTA, which is most known for developing rate classification standards for the less-than-truckload (LTL) industry, also operates a Digital Standards Development Council for the trucking industry. Within the full truckload portion of that that initiative it will assume management of the Scheduling Standards Consortium (SSC), a group started in 2022 by J.B. Hunt, Uber Freight and the now-defunct freight broker Convoy to build a <a href="https://www.joc.com/article/major-us-freight-brokers-unveil-appointment-scheduling-standards-5217739">common appointment scheduling protocol</a> for truckload freight. “This new development will support NMFTA's efforts to create standards that improve communication between carriers, shippers, technology providers and third-party logistics providers (3PLs) by creating and sharing application programming interfaces (APIs) for a fully digital logistics process,” the group said in a statement Tuesday. SSC was attempting to create a uniform appointment system for carriers and receiving facilities as opposed to each broker having a different process, with the idea that no broker was able to sell its differentiation in the market. <a href="https://www.joc.com/article/truckload-appointment-standards-group-adds-heavyweights-to-drive-adoption-5192857">Membership grew in 2023</a> when the consortium added three brokers and four transportation management system (TMS) providers. Visibility software vendor FourKites then <a href="https://www.joc.com/article/fourkites-integrates-with-truckload-scheduling-standards-initiative-5219328">adopted the SSC standards in mid-2024</a>. The group now has 17 members –11 brokers and six technology providers. “The current SSC members are enthusiastic about this strategy and champions of our effort to ensure digital standards are developed,” Debbie Sparks, NMFTA’s executive director, said in the statement. <h3>Tech options grow </h3>Outside of the issue of scheduling standards, a number of individual SSC members have undergone substantial changes. Founding member <a href="https://www.joc.com/article/convoy-says-will-shut-operations-sell-off-technology-amid-market-downturn-5215523">Convoy went out of business</a> in the fall of 2023. Broker Coyote Logistics, which joined in mid-2023, was <a href="https://www.joc.com/article/rxo-purchase-of-coyote-logistics-highlights-us-brokerage-market-pressures-5192296">sold by UPS to RXO</a> in June 2024. E2open, which also joined in mid-2023, was <a href="https://www.joc.com/article/wisetech-notches-biggest-acquisition-with-21-billion-deal-for-e2open-6011581">acquired in May by WiseTech Global</a>. And while the SSC has been trying to drive adoption of scheduling standards among members while recruiting new ones, the category of truckload scheduling software has expanded. Companies like Qued and Bigger Picture have built tools specific to appointment scheduling, while others, like Vooma, HappyRobot and Drumkit provide automation geared toward scheduling, among other workflows. “Given NMFTA’s expertise and history in standards development, it was an easy choice to seamlessly transition,” Stuart Scott, chairman of the Digital FTL Council and executive vice president and chief information officer for J.B. Hunt, said in the statement. “J.B. Hunt and several other SSC council members are joining the Digital FTL Council to further our partnership and bring more digital standards to the logistics industry.” Contact Eric Johnson at <a href="mailto:eric.johnson@spglobal.com">eric.johnson@spglobal.com</a>. </div>

The National Motor Freight Traffic Association (NMFTA) has taken over management of a consortium of freight brokers and technology providers developing standards for truckload appointment scheduling. NMFTA, which is most known for developing rate classification standards for the less-than-truckload (LTL) industry, also operates a Digital Standards Development Council for the trucking industry. Within the full truckload portion of that that initiative it will assume management of the Scheduling Standards Consortium (SSC), a group started in 2022 by J.B. Hunt, Uber Freight and the now-defunct freight broker Convoy to build a common appointment scheduling protocol for truckload freight. “This new development will support NMFTA's efforts to create standards that improve communication between carriers, shippers, technology providers and third-party logistics providers (3PLs) by creating and sharing application programming interfaces (APIs) for a fully digital logistics process,” the group said in a statement Tuesday. SSC was attempting to create a uniform appointment system for carriers and receiving facilities as opposed to each broker having a different process, with the idea that no broker was able to sell its differentiation in the market. Membership grew in 2023 when the consortium added three brokers and four transportation management system (TMS) providers. Visibility software vendor FourKites then adopted the SSC standards in mid-2024 . The group now has 17 members –11 brokers and six technology providers. “The current SSC members are enthusiastic about this strategy and champions of our effort to ensure digital standards are developed,” Debbie Sparks, NMFTA’s executive director, said in the statement. Tech options grow Outside of the issue of scheduling standards, a number of individual SSC members have undergone substantial changes. Founding member Convoy went out of business in the fall of 2023. Broker Coyote Logistics, which joined in mid-2023, was sold by UPS to RXO in June 2024. E2open, which also joined in mid-2023, was acquired in May by WiseTech Global . And while the SSC has been trying to drive adoption of scheduling standards among members while recruiting new ones, the category of truckload scheduling software has expanded. Companies like Qued and Bigger Picture have built tools specific to appointment scheduling, while others, like Vooma, HappyRobot and Drumkit provide automation geared toward scheduling, among other workflows. “Given NMFTA’s expertise and history in standards development, it was an easy choice to seamlessly transition,” Stuart Scott, chairman of the Digital FTL Council and executive vice president and chief information officer for J.B. Hunt, said in the statement. “J.B. Hunt and several other SSC council members are joining the Digital FTL Council to further our partnership and bring more digital standards to the logistics industry.” Contact Eric Johnson at eric.johnson@spglobal.com .

Surface

Truckload

Logistics Technology News

Trucking standards group takes control of truckload scheduling consortium

<div class="phx-topic abstract-wrapper">Forwarders said space for bookings, especially to the more-demanding West Mediterranean market, has become acutely tight due to multiple blank calls in recent weeks.</div>

Forwarders said space for bookings, especially to the more-demanding West Mediterranean market, has become acutely tight due to multiple blank calls in recent weeks.

<div class="phx-topic">Indian shippers moving cargo to the Mediterranean are dealing with a persistent capacity strain from vessel schedule disruptions, sparking a doubling of container freight rates over the past month, freight forwarders say. Forwarders said space for bookings, especially to the more-demanding West Mediterranean market, has become acutely tight due to multiple blank calls in recent weeks. Short-term contract rates out of the ports of Nhava Sheva and Mundra to Genoa have climbed to between $1,900 to $2,000 per FEU from the $1,000 to $1,100 range seen in the first half of June, data obtained by the Journal of Commerce showed. Crimped ocean capacity has sent spot rates on the trade lane even higher. Sources put spot booking prices for Nhava Sheva-Genoa loads on sailings through August at between $3,000 to $3,100 per TEU and $2,600 to 2,800 per FEU, varying slightly from carrier to carrier. Additionally, certain carriers have tactically opened spot window bookings for early-September sailings at about $3,400 per TEU, sources said. “Most available vessels for the West Mediterranean in August are already booked full,” a sales executive at a Mumbai-based forwarding company who didn’t want to be identified told the Journal of Commerce. “With the space crunch expected to linger for some time, rates could strengthen further.” Forwarders have already reported two blankings on the trade lane in August, including one upcoming skip from CMA CGM. Space availability is said to be relatively better off for the India-East Mediterranean trade, a market that has been a target of opportunistic regional/feeder lines offering direct Red Sea sailings. Indian containerized exports to the Mediterranean are mainly led by agricultural products and various machinery freight, with volumes in the first half of 2025 estimated at 332,500 TEUs. Contact Bency Mathew at <a href="mailto:bencyvmathew@gmail.com">bencyvmathew@gmail.com</a>. </div>

Indian shippers moving cargo to the Mediterranean are dealing with a persistent capacity strain from vessel schedule disruptions, sparking a doubling of container freight rates over the past month, freight forwarders say. Forwarders said space for bookings, especially to the more-demanding West Mediterranean market, has become acutely tight due to multiple blank calls in recent weeks. Short-term contract rates out of the ports of Nhava Sheva and Mundra to Genoa have climbed to between $1,900 to $2,000 per FEU from the $1,000 to $1,100 range seen in the first half of June, data obtained by the Journal of Commerce showed. Crimped ocean capacity has sent spot rates on the trade lane even higher. Sources put spot booking prices for Nhava Sheva-Genoa loads on sailings through August at between $3,000 to $3,100 per TEU and $2,600 to 2,800 per FEU, varying slightly from carrier to carrier. Additionally, certain carriers have tactically opened spot window bookings for early-September sailings at about $3,400 per TEU, sources said. “Most available vessels for the West Mediterranean in August are already booked full,” a sales executive at a Mumbai-based forwarding company who didn’t want to be identified told the Journal of Commerce. “With the space crunch expected to linger for some time, rates could strengthen further.” Forwarders have already reported two blankings on the trade lane in August, including one upcoming skip from CMA CGM. Space availability is said to be relatively better off for the India-East Mediterranean trade, a market that has been a target of opportunistic regional/feeder lines offering direct Red Sea sailings. Indian containerized exports to the Mediterranean are mainly led by agricultural products and various machinery freight, with volumes in the first half of 2025 estimated at 332,500 TEUs. Contact Bency Mathew at bencyvmathew@gmail.com .

Container lines

Forwarding

Asia-Europe

India-Med rates race higher as blank sailings continue to tighten capacity

<div class="phx-topic abstract-wrapper">Vietnam’s largest conglomerate said the complex will be developed in three phases between 2026 and 2040 and include a container terminal with at least six berths. </div>

Vietnam’s largest conglomerate said the complex will be developed in three phases between 2026 and 2040 and include a container terminal with at least six berths.

<div class="phx-topic">Vingroup, Vietnam's largest conglomerate, will start work next year on a $14 billion port and logistics center in Haiphong that will form the core of a new development area in the country’s northern port gateway, the group said. The Nam Do Son harbor and commercial facility will cover around 11,000 acres in Haiphong’s new southern coastal economic zone, plans for which were unveiled by the city government last year. Vingroup said its port and industrial complex will be developed in three phases between 2026 and 2040. It will include a container terminal with at least six berths, according to digital renderings of the project. Vingroup, whose interests include electric vehicle manufacturing, real estate development and healthcare, said phase one of the project, to be developed between 2026 and 2030, will cost $1.1 billion. Phase two between 2031-2035 will cost $7.9 billion, while the final phase from 2036 to 2040 will cost $5.3 billion. Details were disclosed in a brief two-page statement Vingroup filed to the Ho Chi Minh stock exchange and the state securities commission this week. Vingroup executives did not respond to requests for further comment. Vingroup said it would finance 15% of the total cost of the project from its own resources, with the remaining 85% coming from other sources, including financial institutions and other investors. Analysts said the port is likely to be built as part of the project’s first phase, providing shipment capacity for Vingroup’s trade activities that include the manufacturing of its VinFast Auto electric vehicles in Haiphong. VinFast also operates a fleet of car carriers to ship vehicles to Southeast Asian markets. Analysts said the port would also provide additional container terminal capacity for Haiphong, which handled almost 6 million TEUs last year. Vingroup’s project comes as Haiphong’s port administration is further developing its Lach Huyen container port. In May, CMA CGM signed a $600 million deal with Saigon Newport Corporation (SNP) to develop terminals 7 and 8 at Lach Huyen, which will have a combined capacity of 1.9 million TEUs when operational in 2028. And Hai Phong Port TIL International Terminal Company, an affiliate of Mediterranean Shipping Co., in April inaugurated terminals 3 and 4 at Lach Huyen, with a capacity of around 2 million TEUs. Contact Keith Wallis at <a href="mailto:keithwallis@hotmail.com">keithwallis@hotmail.com</a>. </div>

Vingroup, Vietnam's largest conglomerate, will start work next year on a $14 billion port and logistics center in Haiphong that will form the core of a new development area in the country’s northern port gateway, the group said. The Nam Do Son harbor and commercial facility will cover around 11,000 acres in Haiphong’s new southern coastal economic zone, plans for which were unveiled by the city government last year. Vingroup said its port and industrial complex will be developed in three phases between 2026 and 2040. It will include a container terminal with at least six berths, according to digital renderings of the project. Vingroup, whose interests include electric vehicle manufacturing, real estate development and healthcare, said phase one of the project, to be developed between 2026 and 2030, will cost $1.1 billion. Phase two between 2031-2035 will cost $7.9 billion, while the final phase from 2036 to 2040 will cost $5.3 billion. Details were disclosed in a brief two-page statement Vingroup filed to the Ho Chi Minh stock exchange and the state securities commission this week. Vingroup executives did not respond to requests for further comment. Vingroup said it would finance 15% of the total cost of the project from its own resources, with the remaining 85% coming from other sources, including financial institutions and other investors. Analysts said the port is likely to be built as part of the project’s first phase, providing shipment capacity for Vingroup’s trade activities that include the manufacturing of its VinFast Auto electric vehicles in Haiphong. VinFast also operates a fleet of car carriers to ship vehicles to Southeast Asian markets. Analysts said the port would also provide additional container terminal capacity for Haiphong, which handled almost 6 million TEUs last year. Vingroup’s project comes as Haiphong’s port administration is further developing its Lach Huyen container port. In May, CMA CGM signed a $600 million deal with Saigon Newport Corporation (SNP) to develop terminals 7 and 8 at Lach Huyen, which will have a combined capacity of 1.9 million TEUs when operational in 2028. And Hai Phong Port TIL International Terminal Company, an affiliate of Mediterranean Shipping Co., in April inaugurated terminals 3 and 4 at Lach Huyen, with a capacity of around 2 million TEUs. Contact Keith Wallis at keithwallis@hotmail.com .

Port News

International ports

Vingroup to start building $14 billion Haiphong port, logistics hub next year

<div class="phx-topic abstract-wrapper">A steady increase in non-seasonally adjusted trucking employment shows there’s more life in trucking than one might expect following lackluster carrier earnings reports. </div>

A steady increase in non-seasonally adjusted trucking employment shows there’s more life in trucking than one might expect following lackluster carrier earnings reports.

<div class="phx-topic">For-hire trucking employment is growing despite weak overall US hiring, imports and industrial production, with for-hire carriers adding 7,700 jobs in July before seasonal adjustments, according to the US Bureau of Labor Statistics (BLS). The Journal of Commerce For-Hire Trucking Employment Index climbed from 100.5 in June to 101 in July and is up from 98 in February. That indicates non-seasonally adjusted trucking employment is up 1% from its average in the fourth quarter of 2018. A steady increase in non-seasonally adjusted trucking employment shows there’s more life in trucking than one might expect following lackluster carrier earnings reports. <div class="wrapper-narrow"><dynamic-object type="jocchartid" resource-id="c317f6b6-3ad4-4ee8-9782-428d25a2050a"></dynamic-object></div>The number of real, unadjusted trucking jobs has risen every month since February, climbing higher by 45,500 employees over that six-month period, according to non-seasonally adjusted BLS data released Friday. On an annualized basis, for-hire trucking employment was up 0.4% at approximately 1.54 million jobs in July from the same month a year ago, before adjustment. The non-seasonally adjusted BLS numbers have been positive year over year since May. Even seasonally adjusted trucking job numbers rose in July, rising by 3,600, indicating stronger-than-expected growth in what’s usually a quieter month for trucking. <h3>Recovering from revision </h3>The latest data shows a continuing recovery in employment numbers after a revision by BLS found <a href="https://www.joc.com/article/revised-us-payroll-numbers-underscore-truckload-market-shift-5965577">trucking employment had been over-reported</a> in the period from 2022 through 2024, with the number of trucking employees inflated by as much as 2% to 4%. That revision pulled trucking employment numbers down to their lowest point since May 2021 at about 1.49 million employees, lower than in the pre-pandemic year of 2019. The latest revision to the BLS employment data showed hiring was slower in May and June than previously reported, and gains in July were weaker than expected. But the revision did not affect the trucking employment data. The data for the first seven months of 2025 shows a normal seasonal progression and tracks very closely with data for the same period in 2024. On a sequential monthly basis, trucking employment increased 0.6% on average since February. For-hire trucking employment is still 2.5% below its peak in August 2022, when trucking companies employed more than 1.6 million workers. Large, publicly owned truckload carriers have been more focused on cutting costs and improving vehicle utilization than adding employees to their payrolls, but they did increase their truck counts slightly in the last quarter. Schneider National, one of the largest US truckload providers, saw a net increase of 200 drivers in the second quarter, according to CEO Mark B. Rourke. Driver recruiting saw “pockets of strength” in the second quarter, Rourke told Wall Street analysts last week, as drivers working for small companies sought jobs with larger, more financially stable fleets. Nearly 9,900 motor carriers left the market between December 2024 and July, according to the Federal Motor Carrier Safety Administration (FMCSA). The number of newly registered carriers peaked in 2024 at 55,853 companies, according to FMCSA data. Contact William B. Cassidy at <a href="mailto:bill.cassidy@spglobal.com">bill.cassidy@spglobal.com</a>. </div>

For-hire trucking employment is growing despite weak overall US hiring, imports and industrial production, with for-hire carriers adding 7,700 jobs in July before seasonal adjustments, according to the US Bureau of Labor Statistics (BLS). The Journal of Commerce For-Hire Trucking Employment Index climbed from 100.5 in June to 101 in July and is up from 98 in February. That indicates non-seasonally adjusted trucking employment is up 1% from its average in the fourth quarter of 2018. A steady increase in non-seasonally adjusted trucking employment shows there’s more life in trucking than one might expect following lackluster carrier earnings reports. The number of real, unadjusted trucking jobs has risen every month since February, climbing higher by 45,500 employees over that six-month period, according to non-seasonally adjusted BLS data released Friday. On an annualized basis, for-hire trucking employment was up 0.4% at approximately 1.54 million jobs in July from the same month a year ago, before adjustment. The non-seasonally adjusted BLS numbers have been positive year over year since May. Even seasonally adjusted trucking job numbers rose in July, rising by 3,600, indicating stronger-than-expected growth in what’s usually a quieter month for trucking. Recovering from revision The latest data shows a continuing recovery in employment numbers after a revision by BLS found trucking employment had been over-reported in the period from 2022 through 2024, with the number of trucking employees inflated by as much as 2% to 4%. That revision pulled trucking employment numbers down to their lowest point since May 2021 at about 1.49 million employees, lower than in the pre-pandemic year of 2019. The latest revision to the BLS employment data showed hiring was slower in May and June than previously reported, and gains in July were weaker than expected. But the revision did not affect the trucking employment data. The data for the first seven months of 2025 shows a normal seasonal progression and tracks very closely with data for the same period in 2024. On a sequential monthly basis, trucking employment increased 0.6% on average since February. For-hire trucking employment is still 2.5% below its peak in August 2022, when trucking companies employed more than 1.6 million workers. Large, publicly owned truckload carriers have been more focused on cutting costs and improving vehicle utilization than adding employees to their payrolls, but they did increase their truck counts slightly in the last quarter. Schneider National, one of the largest US truckload providers, saw a net increase of 200 drivers in the second quarter, according to CEO Mark B. Rourke. Driver recruiting saw “pockets of strength” in the second quarter, Rourke told Wall Street analysts last week, as drivers working for small companies sought jobs with larger, more financially stable fleets. Nearly 9,900 motor carriers left the market between December 2024 and July, according to the Federal Motor Carrier Safety Administration (FMCSA). The number of newly registered carriers peaked in 2024 at 55,853 companies, according to FMCSA data. Contact William B. Cassidy at bill.cassidy@spglobal.com .

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US trucking employment rising steadily despite soft freight market

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At SSA Marine Mexico, we firmly believe that business development must go hand in hand with social and environmental well-being. Our vision is not solely focused on operating efficiently, but also on creating a meaningful and positive impact in the communities where we are present. Since 1995, we have reaffirmed this commitment through tangible actions that reflect our core values of responsibility, solidarity, and sustainability. <span class="joc_admin__inline-image joc_admin__inline-image-aspect-ratio-3_2 joc_admin__inline-image-position-left joc_admin__inline-image-size-medium" data-figure-size="medium" data-figure-position="left" data-figure-aspect-ratio="3:2"><img src="/content-assets/1752584535914_Photo%201.jpg" alt="" class="joc_admin__inline-image-inherit"> A Year of Major Achievements Over the past year, we allocated more than $107,000 USD to the implementation of 60 social and environmental projects, positively impacting over 7,800 people across various regions of Mexico. Each initiative was designed with a holistic approach, addressing key areas that contribute to long-term community development. Education: Laying the Foundation for the Future Education is one of the most powerful tools to promote social mobility and equitable development. At SSA Marine Mexico, we support academic initiatives that inspire and empower the next generation of leaders. One of our most impactful partnerships was with the University of Colima, where we sponsored the “Reto Camp” program. This initiative encourages university students to develop innovative solutions in the fields of sustainability, logistics, and port operations, offering them mentorship, tools, and real-world challenges to solve. In addition, we donated microscopes, school supplies, and educational materials to institutions in underserved communities, helping to improve the learning environment and provide students with the resources they need to succeed. Health and Sports: Promoting Wellness We believe that healthy communities are strong communities. We have supported several local sporting events and provided direct assistance to talented athletes, enabling them to pursue their passions and represent their regions with pride. Beyond sports, we also strengthened our collaboration with critical emergency response organizations such as the Mexican Red Cross and Civil Protection. Our contributions helped enhance their readiness and capabilities in times of crisis, ensuring better outcomes for those affected by emergencies. Supporting Vulnerable Groups: Reaching Those Who Need It Most A core part of our social responsibility efforts is directed toward supporting vulnerable populations. We have contributed to a range of initiatives focused on children, migrants, and at-risk families. These efforts included donations to orphanages and shelters, as well as support for the National Institute of Migration and grassroots organizations dedicated to protecting and empowering people facing adversity. By standing with those in need, we reinforce our commitment to inclusion and social justice, values that are central to our identity as a responsible company. <span class="joc_admin__inline-image joc_admin__inline-image-aspect-ratio-3_2 joc_admin__inline-image-position-left joc_admin__inline-image-size-medium" data-figure-size="medium" data-figure-position="left" data-figure-aspect-ratio="3:2"><img src="/content-assets/1752584944645_Photo%202.png" alt="" class="joc_admin__inline-image-inherit">Culture: Strengthening Community Identity Cultural identity is a key element in building resilient and united communities. At SSA Marine Mexico, we actively participate in the organization and sponsorship of cultural events that celebrate local traditions and foster civic pride. Working alongside port authorities and municipal governments, we helped bring music, art, and heritage to the forefront, creating spaces for community engagement and intercultural dialogue. Environment: Investing in the Planet Our commitment to sustainability goes beyond operations—it’s a philosophy that drives every decision we make. We have partnered with environmental institutions to carry out reforestation campaigns, beach cleanups, and conservation efforts. In collaboration with the Institute for the Environment, we supported initiatives aimed at decarbonization, biodiversity protection, and environmental education. By involving our employees and local volunteers in these actions, we also foster a culture of environmental stewardship throughout our organization and our surrounding communities. Innovation for a Sustainable Future Sustainability is not just about doing good—it’s also about doing things better. In 2024, we invested $22 million USD in the acquisition of 11 state-of-the-art E-RTG cranes. These electric rubber-tired gantry cranes represent a significant technological advancement in port equipment. Seven of them are already operating on clean electric energy, resulting in a reduction of nearly 4,000 tons of CO₂ emissions and improving operational efficiency by 7%. The remaining four cranes are fully compatible with future electrification, underscoring our long-term strategy to modernize our operations in an environmentally responsible way. This investment is part of a broader innovation roadmap that includes digitalization, automation, and cleaner energy sources—all designed to ensure that our ports continue to grow without compromising the health of our planet. Building a Better Tomorrow, Together At SSA Marine Mexico, we understand that sustainability is a shared and ongoing responsibility. True impact requires collaboration across sectors, long-term vision, and unwavering commitment. That is why we continue to work hand-in-hand with local authorities, non-profit organizations, universities, and our own employees to create solutions that are both scalable and sustainable. Our journey is far from over. In the years ahead, we will continue to deepen our community engagement, explore cleaner technologies, and strengthen the social fabric of the regions where we operate. Each initiative, no matter the size, is a step toward building a future where business success goes hand-in-hand with human and environmental prosperity. We are proud of what we have achieved in 2024, but we are even more excited about what lies ahead. SSA Marine Mexico — Moving the World, Caring for People and Planet. LINK: https://www.ssamarine.mx/

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