Shipping stocks hammered as China fears intensify
Dry bulk shares suffer double-digit declines, with tanker and container stocks also caught up in the sell-off.
Dry bulk shares suffer double-digit declines, with tanker and container stocks also caught up in the sell-off.
Air-truck service via Toronto is faster for some logistics companies than booking shipments direct to O’Hare, where delays are mounting.
Supply chains are melting down and the ports of Los Angeles and Long Beach are taking steps to ease truck delays.
A National Labor Relations Board judge ruled the International Longshoremen’s Association cannot force the use of union labor at the Port of Charleston’s new Leatherman Terminal.
Ports across southeast Louisiana jointly submitted a request to President Joe Biden for federal aid.
Liner profits still rising: second half looks stronger than first and Deutsche Bank sees even higher earnings next year.
The port recently added more Asia vessel calls as more shippers seek uncongested gateways servicing North American markets.
Western Global Airlines is a midsize cargo carrier that can’t grow its fleet until the U.S. DOT lifts conditions placed on startups.
Supply chain crisis deepens as more imports snared in historic ship queue off Los Angeles/Long Beach.
A union that recently wrested allegiance of pilots at Cargojet away from a competing union now says the company fired some members for their organizing activity.
Ocean carrier detention and demurrage practices will be the target of an upcoming proposed rule from the Federal Maritime Commission.
Atlas Air pilots are peeved that an outside arbitrator jammed a new labor contract down their throat. Union says many are threatening to leave.
“The NTSB determined the probable cause of the capsizing of the Golden Ray was the chief officer’s error entering ballast quantities into the stability calculation program.”
The Department of Transportation seeks “practical solutions” from the freight industry to alleviate container shortages and supply chain chokepoints.
DHL Express is one of Atlas Air’s biggest customers. It just renewed leases for 20 planes.
Container ships named The Brady, The Belichick and The Gronk just sold for six to eight times their purchase price, spurring a nine-figure payday.
August was a record month for the Port of Virginia in Norfolk, and the trend of higher year-over-year volumes could persist through the rest of 2021 as peak season approaches.
The Ever Ace is at nearly 24,000 TEUs, but ports may not be able to handle that much capacity.
Nicholas made landfall as a Category 1 hurricane in Texas Tuesday morning, bringing high winds and torrential rainfall.
Dry bulk and LNG shipping stocks now at 52-week peaks with container stocks not far from the top.
A messy leadership change is underway at all-cargo airline Amerijet.
U.S. agribusiness exporters claim they are poised to lose 22% of sales due to massive increases in container shipping rates.
Container terminals will cease ingate operations and remain closed through Tuesday morning.
Borderlands is a weekly rundown of developments in the world of United States-Mexico cross-border trucking and trade. This week: Slync.io launches integrated strategy for ocean containers; chip shortage continues to impact Mexico’s commercial truck industry; automotive parts supplier invests $102M in Mexico expansion; and Aeronet Worldwide opens operations in San Antonio.
National Tree Co. tells American Shipper it is warning customers not to sit on their wallets until Black Friday because the items they are coveting might already be sold out.
Demand for container ships is so extreme that some operators are paying unprecedented sums to rent them.
Two of China’s main ports are preparing for the arrival of Typhoon Chanthu, which could slam Taiwan first.
Used Airbus A321s are getting a second life in the cargo arena. More companies are jumping in to do the modifications.
Mammoth Freighters has deep pockets and ambitious goals for selling converted passenger planes for cargo operations.
An FMC advisory committee has been formed amid ongoing shipper complaints of carrier market power abuse.
In unprecedented move, CMA CGM unilaterally halts rate increases until February amid rising global supply chain chaos.
The Port of Long Beach has broken monthly cargo records 13 of the past 14 months.
The Vancouver transload facility will primarily handle fast-moving consumer goods and auto parts.
In the pandemic era, passenger travel can be especially fickle. Air Wisconsin will try its hand at cargo so it has more revenue opportunities.
The maritime meeting among trade partners comes as container shipping remains hot.
Maersk is adding bio-methanol to its portfolio of green marine fuels after making e-methanol and methanol-powered vessel agreements in August.
Port of Los Angeles Executive Director Gene Seroka has been named the 2021 recipient of the Containerization & Intermodal Institute’s top honor.
The AN-225 is not your average plane pull. It’s the biggest plane in the world and doesn’t budge easily.
Reducing risk from natural disasters, disease and terrorism is an important goal, but doing so shouldn’t paralyze economic activity.
Deputy U.S. Commerce Secretary Don Graves joined port officials to discuss the importance of trade, infrastructure funding, lowering tariffs and job creation in Washington state.
Back at FreightWaves after a more than monthlong fight against COVID, I thank CEO Craig Fuller for moving the F3: Future of Freight Festival online.
Automotive trade platform TRADE X has acquired vehicle export specialist Techlantic after raising $45 million over the summer.
Plans for the Louisiana International Terminal call for a 350-acre container facility capable of handling 2 million twenty-foot equivalent units annually.
Port officials are still assessing Hurricane Ida’s impact, but initial reports indicate no major damage to the facilities.
Most all-cargo carriers that buy used passenger planes rebuild them for heavy cargo. Easter Airlines has a quicker, cheaper idea.
The port and the Texas General Land Office announced an agreement to develop infrastructure to capture carbon dioxide produced during oil and natural gas development.
New details on record 2019 cocaine haul aboard MSC Gayane — which may not have been the first run — as U.S. wraps up convictions.
Halloween is among the most popular holidays in America, so the horrific congestion this year is no treat for the nation’s supply chain.
Amazon Air’s rate of growth is amazing. It will soon have 80 aircraft moving e-commerce shipments for business and residential customers.
Virginia’s competitive advantages: a naturally deep harbor, semi-automated terminals and its own, newer chassis pool.
Digitization can alleviate supply chain glitches, but it depends on systems that talk the same language.
Cosco and MSC fight back against accusations that they inflated rates, violated contracts and broke U.S. law.
Alliance Ground International found new digs outside Newark airport after officials gave the warehouse lease to Amazon.
Willie Walsh is the blunt leader of the International Air Transport Association. He admits that airlines mistakenly treated cargo business as an afterthought.
More container ships are stuck at anchor off California than ever before. The gridlock is about to get even worse.
Discount chain Dollar Tree expects the positive impact from heightened consumer demand to be totally offset by elevated transportation expenses this year.
The global airline industry still has a steep climb out of its financial hole. U.S. airlines are doing better, but watch out for the delta variant.
As stimulus-fueled demand overwhelms trans-Pacific capacity, a widening freight spread leaves small shippers behind.
The White House is trying to unleash the domestic economy by removing supply chain shackles.
U.S. rail terminals that handle imports are still grappling with chassis shortages, although efforts are being made to address overflow at the terminals.
With limited manpower because of COVID, the main cargo terminal at Shanghai airport can’t process many freighter flights.
The stress levels of logistics managers and supply chain managers are at all high-time highs — and for good reason.
The New York Shipping Exchange, a digital trading platform for two-way committed ocean contracts, announced it raised $15 million in its latest funding round.
A 3PL is rescuing stranded freight in Chicago. It’s the freight equivalent of special ops forces going behind enemy lines to get a high-value target.
Container mega-spike recalls epic dry bulk run over a decade ago. Here’s a look back at the last time shipping had it this good.
Port Houston’s year-to-date container traffic increased 15% in TEUs compared to the first six months in 2020.
A.P. Moller – Maersk expects to save about 1 million metric tons of CO2 emissions annually with eight dual fuel container vessels.
Pilot Freight Services took the unusual step of buying a trucking company to connect its e-commerce delivery services.
A ransomware attack on a maritime fuel storage provider in the Canary Islands likely didn’t live up to the hackers’ hype. But the incident reflects the very real cybersecurity risks facing the companies supporting the global shipping industry.
As this year’s peak season gets underway, dislocations in the supply chain are increasing. However, this is really nothing new as the industry has been in peak mode for a year.
U.S. airlines are supporting the Afghanistan evacuation under a rarely used wartime program that gives the military access to standby airlift.
Demand for new containers has been historically high. Even so, the Chinese factories that build the world’s boxes are churning them out efficiently.
Borderlands is a weekly rundown of developments in the world of United States-Mexico cross-border trucking and trade. This week: Port Houston signs agreement for $1.1B channel expansion; German auto parts supplier expands in Mexico; E-commerce 3PL moves headquarters to Arizona; and CBP seizes $20M in meth at World Trade Bridge.
COVID closes a big cargo facility at Shanghai airport, creating another bottleneck for shippers ahead of the holiday inventory buildup.
Extreme measures to contain delta variant create unprecedented backlog of dry bulk ships off China.
It costs $1.2 million to charter a cargo jet from Vietnam as air exports slow because of the government’s response to a wave of COVID infections.
Freight forwarder JAS Worldwide announced it has entered into a share purchase agreement with forwarding, logistics and supply chain management provider Greencarrier Freight Services International.
You can’t blame carriers for refusing to stick by a handshake agreement to sell service at pre-negotiated rates or at a discount.
New Orleans and Galveston, Texas, will offer liquefied natural gas fueling services for marine vessels by 2022 and the end of 2021, respectively.
Ocean carrier ZIM now expects to earn $4.8 billion-$5.2 billion this year — five times what it earned in 2020.
Port of Los Angeles boss warns: ‘Anchorage and dwell times are trending in the wrong direction.’
Ocean carriers adjust to the partial port closing in Ningbo, China, with minimal disruption so far. Operations could soon return to full speed if COVID remains at bay.
July’s volumes are a monthly record and the second highest for 2021.
Container volumes rose 25% at the Port of Savannah, while auto and machinery units grew 39% at Brunswick.
The port ultimately hopes to scale hydrogen production for exports to international markets.
Queue of container ships off U.S. ports keeps building, with months’ worth of peak-season cargo still to unload.
Aircraft leasing and management firm BBAM showed its confidence in the new Airbus A321 freighter design by placing a large order with an aftermarket shop to overhaul passenger planes to carry cargo.
1996: The FAA says it’s ready to start testing new designs of air cargo containers built to withstand terrorist bombs, but the industry worries the new containers could add weight, be expensive and reduce available cargo space.
“There was a lot of flexibility in their API that allowed us to do what we wanted to do with it, compared to others that had a lot of pre-built tools.”
The Port of Ningbo is in a partial lockdown, putting immense pressure on an ocean transportation system squeezed to the maximum. It’s a replay of the Yantian port slowdown earlier this summer.
Labor shortages at Chinese airports and pilot quarantine rules related to COVID are forcing airlines to scuttle many cargo flights to keep operations going and pilots from being put in isolation.
Canadian Tire is acquiring a 25% stake in Ashcroft Terminal in a deal that will allow the retailer to move containers from the Port of Vancouver more efficiently, while securing rail capacity.
South Carolina ports started the fiscal year off with a bang, moving a record volume of containers in July.
Yantian redux. Shipping activity slowed to a crawl at the Port of Yantian in China earlier this summer after an outbreak of COVID infections, and the same could happen in Ningbo if more cases are discovered.
Plaquemines Port announced it has found the site for its state-of-the-art container terminal that will be able to handle vessels carrying up to 22,000 TEUs.
Amazon’s new U.S. air hub is up and running in the Ohio Valley, making it easier to quickly fulfill online orders.
Learn a bit about the evolution of temperature-controlled containers in the air cargo environment and how Envirotainer has added new technology features to its refrigerated units.
The International Air Cargo Association has been waiting two years to hold its big annual conference. Members will now have to wait another six months because of COVID.
Port Houston’s biggest international trade partners were China, Mexico and Brazil during the first half of the year.
In the chaotic supply chain world of 2021, airport terminal operators are moving away from the airport to process cargo because existing facilities are full.