Canadian ports on both coasts are working toward a return to normal operations amid the nearly three-week-long spate of rail blockades, with full rail service restored to the ports of Vancouver and Prince Rupert, and some service back at the Port of Montreal
Los Angeles and Long Beach ports predict a 12 to 15 percent decline in cargo volume in the first quarter due largely to the impact of the coronavirus disease 2019 (COVID-19) on production in Asia.
The ports of Los Angeles and Long Beach will extend the collaborative efforts already underway into the digital era in order to improve productivity.
The Dubai-based operator’s acquisition of the Fraser Surrey Docks, which handled 350,000 TEU last year, was completed with partner Caisse de dépôt et placement du Québec, a pension fund.
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The terms of a $5 billion credit line obtained by Maersk as it reinvents itself as a logistics integrator will become more favorable as the ocean carrier progresses towards its carbon-neutrality goal.
The domino effect of factory closures and other related supply chain disruptions stemming from the coronavirus disease 2019 (COVID-19) will have major downstream ramifications for container shipping demand, equipment availability, and rates.
Driven mostly by increases in bunker fuel charges due to the IMO 2020 global low-sulfur fuel requirement, carriers say they intend to achieve all-inclusive freight rates that are slightly higher than the rates in last year’s service contracts.