In the next two weeks, only two container ships are slated to berth at the new Leatherman Terminal. Forty are scheduled at the Port of Charleston’s neighboring Wando Welch Terminal.
Salvage crews are using a special method to remove fuel from the capsized commercial lift boat SEACOR Power.
Maersk reveals more details on its shift toward long-term contracts at the expense of spot exposure.
Importers are scrambling as demand sails past ocean transport supply. The numbers paint an ominous picture for cargo shippers.
In the prepared statement released with earnings, CEO Musser says the current market has no precedents.
COVID has been great for stocks. In ocean shipping, container and dry bulk shares rode the wave. Tankers stocks sank.
The Port of Montreal is a major trade gateway for Canada. The Canadian government busted up a strike by unionized dockworkers and cargo will start flowing again.
Chinese container production still trails torrid demand. Ever Given accident was ‘icing on the cake’ — making box shortfall worse.
Container rates doubling from a year ago is a lesson for port investment, according to Port of Long Beach’s Mario Cordero.
The process is underway to clear wreckage of the capsized SEACOR Power and minimize environmental impacts.
Canadian lawmakers approve legislation to force an end to a strike by Port of Montreal longshoremen.
Now that shipping lines hold the pricing cards, importers must reset strategies, says Sea-Intelligence’s Jochen Gutschmidt.
Within maritime logistics circles, an effort is underway to update the technology the industry relies on to take advantage of recent advancements in hardware and software technology.
West Coast congestion could last into the fall as retailers face stockouts on essential goods, says ocean carrier Matson.
The Coast Guard answers the call to help a Pacific island nation devastated by Typhoon Surigae in mid-April.
DSV Panalpina announced Tuesday it plans to acquire the logistics arm of Agility Public Warehousing for $4.1 billion. The deal is expected to turn the transportation and logistics company into a top 3 forwarder globally.
Trans-Pacific container crunch is about to become even more severe, warns Flexport, with May sailings now effectively sold out.
“Both Hapag-Lloyd and USMX were well aware that the work in question would have been handled by ILA members” if the vessel had gone to another port, the International Longshoremen’s Association lawsuit asserts.
Port of Montreal longshoremen began an unlimited strike on Monday morning, but the Canadian government is set to step in with back-to-work legislation to avert more disruption to the supply chain.
Port of Montreal longshoremen say they will begin a full, indefinite strike starting Monday after their employers moved to change regular schedules.
Prologis launched a new LEED program, Blume Global says it will be carbon-neutral very soon, and bays are seeing ecological recovery.
Liners are paying historically high rates to charter ships and maximize their exposure to the booming freight market.
Evergreen should decide whether to leave the containers on board the vessel or come up with a way to transfer them.
U.S. importers will be paying a lot more for annual ocean contracts this year, but pricing inflation has eased.
“The container shipping industry is currently seeing unprecedented demand, which has led to a shortage of containers all over the world,” says CEO Rolf Habben Jansen.
“We have invested in the right infrastructure at the right time to handle growing cargo volumes and bigger ships,” says South Carolina Ports’ Jim Newsome.
The container ship now is expected to anchor in San Pedro Bay on May 1.
U.S. maritime regulators are giving ocean carriers and shippers more flexibility to meet contract filing requirements.
Dry bulk shipping rates are now double to triple five-year averages. Stock prices of dry bulk owners are on the ascent.
Eight missing crew members of a Seacor Marine lift boat are presumed dead.
A total of 19 crew members were on board the Seacor Power when it overturned during rough weather 8 miles off of Port Fourchon, Louisiana.
Savannah’s record March underscores why it’s investing hundreds of millions on new capacity upgrades.
The Teamsters call it a strike, but it is more of a protest. Still, it did garner support from another union on Wednesday.
The ongoing search for missing crew members of the capsized Seacor Power has intensified.
U.S. ports just booked their largest import hikes in memory, according to The McCown Report.
Retail sales surged in March along with freight volumes. An increase in vaccinations and stimulus payments provided a “perfect alignment” for the blowout report.
As longshoremen begin partial strike, here are seven key questions about the Port of Montreal, the labor dispute and what might happen.
Imports into Los Angeles at not slowing down. Can the backlog be cleared before the peak-season swell begins?
“We’re giving it all we have,” Coast Guard Capt. Will Watson said about the search for a capsized commercial vessel’s missing crew members.
NOAA Ship Fairweather, a coastal survey vessel, will return to its homeport after a major renovation of the facility.
More than a third of the crew on the MSC Gayane smuggled cocaine in June 2019. The first prison term has just been handed down.
Port of Montreal longshoremen will begin a partial strike after employers moved to stop providing guaranteed minimum pay as labor dispute hits the skids, again.
As cargo shippers struggle, container-vessel companies rake in massive profits. Early signals point to record Q1 results.
Container shipping spot rates haven’t budged from COVID-fueled peaks. Cargo shippers’ hopes for a rate pullback are fading.
Glimmers of hope for the beaten-down tanker sector: more OPEC+ crude production and more long-haul exports from the U.S. to India.
If you ordered a fire pit or a rowing machine online, there’s a good chance it’s coming through the Port of Long Beach. The port is moving record amounts of containers and shipments are experiencing delays.
Days after Ever Given backlog was declared cleared, the number of ships waiting to transit the Suez Canal remains high (with video).
“Widely varying” tariff fees charged by container lines have prompted federal regulators to consider new rules.
Pearl service customers’ imports likely will be delayed arriving from Asia.
“Our all-time container record reinforces that we are adding more capacity to the Port of Charleston at the right time,” says South Carolina Ports CEO Jim Newsome.
Twenty tons of coke was found aboard an MSC ship in 2019. MSC just revealed that it’s spending $100 million more on security in response.
“Imagine a port where a ship slows down on approach to reduce emissions, plugs into the electrical grid at berth instead of burning fuel to run vital systems and is worked by zero-emissions cranes, yard vehicles and trucks. That’s our reality in Long Beach.”
Bad timing: Still-rising cargo demand is coinciding with container-shipping constraints in the wake of the Suez Canal crisis.
Maersk and ZIM ships are being deployed in response to “customers’ increased cargo demands.”
Daniel Maffei becomes chairman at a time of massive disruption in the world of trade.
FreightWaves CEO Craig Fuller writes about FreightWaves, as well as transportation today and moving forward.
‘Bigger is better’ is the mantra of public tanker companies. The just-announced INSW-Diamond S merger is a step in that direction.
A ransomware gang is threatening to leak 2 terabytes of files stolen from shipping firm ECU Worldwide in the aftermath of a cyberattack as the owner vows to “take any steps necessary, legal and otherwise,” to protect customer data.
Biden taps Daniel Maffei to head the FMC amid the ongoing port congestion crisis.
Third-party logistics provider GSC Logistics plans to add 100 more drivers and 400 chassis to meet the container volume surge on the West Coast.
The Georgia Ports Authority has approved projects to increase the annual container capacity at the Port of Savannah to over 6 million TEUs from the existing 4.7 million TEUs.
You think you can just book your cargo on a plane to avoid the ocean shipping congestion at the Suez Canal? Guess again. Freighters were flying full even before the Ever Given got stuck, so finding space will be very difficult.
The president of the trade group says he expects a new CEO after “fierce” competition.
The South Korean container carrier expects the Suez Canal backlog to be cleared by the time the HMM Nuri arrives in mid-April.
The Panama Canal Authority’s administrator discusses why he’s not worried about a container ship blocking the canal.
Canadian police and border officers seized nearly $8 million in opium found in two shipping containers at the Port of Vancouver and then swapped the drugs with a dummy shipment to let the dragnet continue.
Suez Canal accident aftermath: Extensive disruptions are ahead for key Asia-East Coast container shipping services.
U.S. ports are positioned to win big off Biden administration’s offshore wind energy initiative
‘We pulled it off!’ says salvage company Boskalis after freeing the container ship.
Digging and pulling haven’t freed the giant Ever Given vessel that has stopped traffic in the Suez Canal. The next step might be to lighten the vessel by removing cargo.
The longer the Suez saga continues, the greater the container, tanker and dry bulk shipping impacts. There could be big losers — and winners.
Welcome aboard, freight customers. You’re now flying CMA CGM to the U.S. East Coast instead of taking a container ship.
Trade is bottled up around the world and part of the problem is the difficulty in getting seafarers and pilots back and forth across borders.
Additional dredgers have been brought in to help dig out the 20,000-TEU Evergreen Marine container ship.
The U.S. secretary of transportation testifies before Congress on the Biden administration’s infrastructure priorities.
The Maersk Eureka is 650 miles off the coast of Alaska awaiting repairs
Back in the Aristotle Onassis era, a Suez Canal closure was a tanker game changer. Today, tanker upside from the canal accident is limited.
Intel’s Ravi Dosanjh and the Port of Long Beach’s Noel Hacegaba take on supply chain visibility.
“Strong winds” are blamed for causing the 20,000-TEU Ever Given to get stuck and block Suez Canal traffic in both directions.
Fewer options means less competition and less incentive to control costs.
Vessels are backed up on both ends of the Suez Canal as tugs work to free the ultra large container ship Ever Given.
California’s container-ship traffic jam is slightly less jammed but import pressure remains high. One analyst warns the worst may be yet to come.
The Port of LA will use tax funds for repairs needed to address its booming business.
Ocean carrier ZIM just released record results and confirmed huge gains for contract rates. So why did its stock sink?
The world’s largest shipping line says it has changed its ways and is no longer playing the spot market, instead going steady with long-term partners.
Newbuild-to-fleet ratio now 15.3%, up from 9.4% in mid-2020. But orders are not high enough yet to wave red flags.
Another strike at the Port of Montreal increasingly likely after longshoremen reject contract as seven-month truce expires. Railroads and trucking companies, meanwhile, brace for scramble to Halifax.
Two bullish equity research reports this week on transportation stocks both highlight expectations around consumer spending and what that means for freight demand.
More and more beneficial cargo owners (BCOs) are moving manufacturing and warehousing to Alabama.
“2020 has been exceptional, with stellar performance in the industry,” says Hapag-Lloyd CFO Mark Frese.
Fireworks could be stuck at sea by the time the Fourth of July rolls around. Blame massive port congestion and overloaded freight networks. The fireworks industry is asking the Biden administration to provide a fix, but what can it do?
There is a direct correlation between stimulus checks and the surge in e-commerce spending, according to SEKO US.
“Our goal at FreightFlows is to make near-term market predictions to help vessel owners, traders, brokers and charterers have much better decision-making power in the international freight markets today,” said CEO Matt Morgan.
Deutsche Bank’s Amit Mehrotra on how long import surge could last and upside potential for container, dry bulk and tanker stocks.
Port Houston is positioning itself as a viable option for handling more containerized imports from Asia.
“Today we are in the seventh month of a historic import surge driven by unprecedented demand by American consumers,” says Gene Seroka.
As part of Women’s History Month, FreightWaves spotlights the first American woman to make it to the top at sea.
Tanker and bulker spot rates can go sub zero — some tanker rates are there now. What do the negative numbers really mean?
Container, dry bulk and tanker stocks push forward. Biggest winner since mid-2020: Danaos, up (this is not a typo) 1,202%.
“As retail imports continue to boom during the pandemic, the ability to quickly move goods from ships to the hinterland via rail is paramount,” says CEO Jim Newsome.
