SCFI falls back down after last week’s jump
While Xeneta said rates could continue to fall due to the Panama Canal expansion, London-based firm Drewry said it projects freight rates will rise modestly over the next 18 months.
Stay Up to Date on the Cargo Shipping Industry
The outbreak of the COVID-19 pandemic had a negative impact on shipping industry growth in 2020. With the world in lockdown, demand for non-essential consumer goods (and the means to ship them) decreased. Shipment of manufactured goods also decreased as factories closed in an effort to slow the spread of the virus. On top of that, China — one of the world’s largest exporters — was at the center of the pandemic, leading several countries to stop trade with the nation altogether.
According to the United Nations Conference on Trade and Development (UNCTAD), maritime shipping industry growth will likely slow or remain flat in 2023, driven by inflation and the ongoing war in Ukraine. For the overall 2023–2027 period, UNCTAD predicts growth at an annual average rate of 2.1%, slower than the previous 30-year average of 3.3%.
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While Xeneta said rates could continue to fall due to the Panama Canal expansion, London-based firm Drewry said it projects freight rates will rise modestly over the next 18 months.
The Northern California port’s new near-dock rail facility received its first train, which transported animal feed from the Midwestern United States for export to customers in the Far East.
The terminal operator has joined a group of Nova Scotia business leaders and investment company Cyrus Capital Partners L.P. in plans to build 315-acre marine container terminal on the Strait […]
A division of Norfolk Southern Corp. has reached a settlement with the U.S. Department of Labor’s Office of Federal Contract Compliance Programs to resolve allegations of race-based hiring discrimination.
Combined United States carload and intermodal cargo volumes fell 6.3 percent for the month compared with June 2015 and 7.4 percent for the half of 2016, according to data from […]
Non-vessel-operating common carrier American Fast Freight has acquired Global Transportation Services, an international freight forwarder, customs broker and logistics services provider.
The Packer Avenue Marine Terminal at the Port of Philadelphia will receive two new super post-panamax container cranes, which are expected to arrive and become fully operational in late 2017.
The European Commission said new rules will take effect this December, which are aimed at increasing price transparency in container shipping.
The U.S. Department of Transportation has proposed a selection of eight U.S. airlines to start scheduled flights from various airports around the United States to Havana, Cuba this fall.
Ocean procurement software provider Xeneta reported freight rates may further decline as carriers seek to fill larger ships that are now capable of transiting the expanded Panama Canal.
Hindered by weak world trade and increasing capacity, demand growth for air cargo slowed to just 0.9 percent year-over-year for the month, according to the International Air Transport Association.
Baltic Container Terminal in the Port of Gdynia and Adriatic Gate Container Terminal in the Port of Rijeka, both owned by International Container Terminal Services, are the newest members of […]
The Intermodal Association of North America said the web portal component of its new online platform to facilitate so-called “street turns” for its members is now available, and it will […]
The parcel carrier and logistics provider’s DHL Freight division has expanded its rail transport offerings to and from Asia and North Africa via its hub at Duisburg to include direct […]
Annualized turnover rates at large truckload fleets fell 13 percentage points to 89 percent, while turnover at smaller fleets slipped 1 point to 88 percent in the first quarter of […]
The shipping and logistics provider’s smart locker program, which provides alternate delivery locations at convenience stores and other spots, is being expanded from nine locations in Chicago to 300 locations […]
German logistics provider DB Schenker entered into a partnership with the online freight shipping marketplace uShip for exclusive collaboration in Europe.
Japanese automobile manufacturer Mazda has chosen the Port of Gothenburg as its new port of entry for its cars imported into Sweden.
The cargo airline will launch a service to and from Wichita, Kan. next week.
The Halifax Port Authority extends CEO’s contract, while HubTran appoints business development director.
The July 7 AS Daily news report IATA: Airfreight volumes fall in May incorrectly stated that air cargo volumes fell 0.9 percent in May 2016 compared with the same […]
The U.S. Department of Transportation has announced 18 proposed grant awards totaling $759.2 million in funding for nationally significant transportation infrastructure projects under the Fixing America’s Surface Transportation (FAST) Act […]
The 10,000-TEU MOL Benefactor, currently serving on the G6 Alliance’s Asia-U.S. East Coast NYX loop, will be the first container vessel to call a USEC port after transiting the newly […]
South Korean ocean carrier Hyundai Merchant Marine will increase capacity on its Korea-Middle East KMS loop and introduce a new China-Middle East CME service in an effort to boost its […]
The National Transportation Safety Board will hold a roundtable discussion Wednesday, July 13 regarding the safety of transporting crude oil, ethanol and other flammable liquids by rail.
The banana and fruit company will return to its previous location in North Harbor at the Port of Gulfport in Mississippi and will expand operations into Terminal 1.
The French ocean carrier began operating the Kingston Container Terminal last Friday under a concession it won last year.
SWISS WorldCargo, the airfreight division of Swiss International Air Lines Ltd., will launch the first of its new regional Bombardier CS100 cargo planes July 15 to replace its aging fleet […]
In addition, the railroad transportation equipment manufacturer’s revenues for the third quarter of its fiscal year 2016 fell 8.4 percent from the previous quarter, primarily due to lower volume of […]
American Airlines Cargo will operate its busiest summer schedule ever to and from Ireland in 2016, with direct flights to Chicago, Charlotte, Philadelphia and New York, according to a statement […]
Claudio Bozzo, chief operating officer of liner carrier Mediterranean Shipping Company, joins the World Shipping Council board.
The rating agency acted negatively to the idea that the A.P. Moller – Maersk conglomerate could potentially choose to divide into separate companies, noting the split could hurt the group’s […]
The London-based firm said it projects that container freight rates will rise modestly over the next 18 months from the all-time lows reached recently, but it won’t be sufficient enough […]
Richard Forson, current chief financial officer of the all-cargo airline, will succeed Dirk Reich as president and chief executive officer effective Aug. 1, according to a statement from the company.
Canadian Pacific Railway last week began the process of cutting 500 track maintenance workers, a move that has officials with the Teamsters Canada Rail Conference raising concerns about safety, the […]
The terminal operator said all of its gate operations are running normally, with vessel schedule integrity remaining unaffected by the new verified gross mass rule, which took effect last Friday.
The American Trucking Associations has appointed former senior vice president of legislative affairs Chris Spear to succeed Bill Graves as the organization’s next president and chief executive officer, effective July […]
The London-based shipping consultant reported that OOCL of Japan was the most reliable container shipping carrier in May, with an on-time performance score of 81.1 percent.
The industrial conglomerate acquired Intelligrated, which will become part of its Sensing and Productivity Solutions business.
Worldwide Information Network’s new mobile application features real-time track and trace, an interactive agent directory, instant messaging, route checking, and shipment status tools, the company said in a statement.
The Russian cargo airline commenced a weekly service to Phnom Penh, Cambodia from Moscow via Singapore.
Deutsche Lufthansa appoints new CFO, while Virgin Atlantic Cargo names products and partnerships manager.
The United States Senate also confirmed the reappointment of Federal Maritime Commissioners Rebecca F. Dye and Michael A. Khouri, whose terms will now last until 2020 and 2021, respectively.
Meanwhile, the Agriculture Transportation Coalition is asking the Federal Maritime Commission to step forward and discourage carriers and terminals from imposing fees for verified gross mass compliance in the United […]
The container terminal operator reached an agreement with joint venture partner Aarhus Service Holding for the purchase of the remaining 40 percent of the existing APM Terminals-Aarhus terminal.
The independent containership owner and manager purchased the vessels for $195.6 million.
The Arab ocean carrier’s shareholders would own 28 percent of the combined company, while the existing shareholders of Hapag-Lloyd would own 72 percent of the new company.
Over 50 percent of respondents said their business would be impacted by a vote for the United Kingdom to leave the EU, but just 18.4 percent had a plan in […]
The United Kingdom will now have to sign new trade treaties with everyone, without the bargaining power of the European Union, which will lead to higher duties, and therefore, increased […]
The supervisory board of Deutsche Post DHL Group has appointed Melanie Kreis to succeed Lawrence A. Rosen as chief financial officer of the German mail and logistics conglomerate.
The privately-held ERP software company entered a strategic partnership with and invested $25 million in cloud-native predictive and prescriptive analytics provider Predictix back in January.
The Mahwah, N.J.-based global airfreight forwarder and supply chain solutions provider will launch its newest regional office in the United Kingdom July 1.
The airline launched a new service from Madrid to Shanghai, and its winter 2016 schedule will offer 10 flights per week from London Heathrow to the Chinese city, an increase […]
Terminals and carriers rush to clarify how shippers can meet the International Maritime Organization’s requirement scheduled to go into effect tomorrow, in which shippers must provide the verified gross mass […]
Industry leader Maersk Line, along with MSC and 13 other container lines, might not be subject to further penalties stemming from a five-year European Commission probe, according to a report […]
The Ocean Carrier Equipment Management Association said that a key benefit of the terminal weighing approach is that shippers will not be required to perform any additional actions in order […]
The Oakland, Calif. City Council passed an ordinance to ban the storage and handling of coal and coke at bulk terminals in the city, representing the latest blow to Terminal […]
The National Transportation Safety Board said its mission to recover the El Faro’s voyage data recorder will be delayed a month from early July to early August.
NASCENT Technology helped Long Beach Container Terminal to automate its marine terminal, giving LBCT the ability to control the number of trucks at each lane and direct trucks to the […]
The freight trains collided near the town of Panhandle, Texas Tuesday morning at 8:40 a.m. local time.
The United Seamen’s Service’s 2016 Admiral of the Ocean Sea Awards will be presented to a ferry operator, union leader and a chairman of a classification society at the Sheraton […]
Canadian National Railway has named Claude Mongeau’s successor as president and CEO of the company, Luc Jobin, as company director, and promoted Mike Cory to chief operating officer and Ghislain […]
The integrated logistics provider formed a joint venture in South Africa with Johannesburg-based Super Group, offering local and multinational customers a range of logistics and supply chain solutions.
The freight transportation analyst said its Shippers Conditions Index is at its highest sustained level since 2011, but conditions for shippers should reverse in 2017, as fuel prices increase and […]
The Mobile, Ala.-based full service intermodal drayage carrier and transportation broker opened its 13th intermodal drayage terminal at Baltimore.
A new port navigation system consisting of 12 off-shore buoys and two land-based range markers, will allow for night time operations at the Liberian port for the first time in […]
The Port of Oakland names new information technology director, while the Port of Redwood City reappoints three commissioners.
Container pricing today is more likely to be based on a carrier’s cost of providing the service and the value of a customer’s business, rather than what on what is […]
The collision in northern Texas left one injured and three missing Tuesday morning.
2016 looks like it will be an even more difficult year for container carriers.
Just a few months ago, this column examined the potential merger between struggling South Korean container lines Hyundai Merchant Marine (HMM) and Hanjin Shipping (March 2016 American Shipper, “Who’s […]
The congestion at port terminals on the West Coast that developed in 2014-2015 during contract negotiations between the International Longshore and Warehouse Union and employers created many shipper-carrier conflicts. […]
It’s reasonable to wonder whether the container-shipping industry is headed to becoming a “commoditized” business, like buying lots of corn and soybean, or oil and gas. The condition […]
The United Kingdom’s vote to leave the European Union last week could have implications for the Transatlantic Trade and Investment Partnership between the U.S. and EU, as well as the […]
The struggling South Korean shipping line plans to return 20 containerships and 18 bulk vessels when their charters expire this year and next as the latest step in its cost […]
United States GDP grew slightly more than initially expected in the first quarter of 2016, but durable goods orders fell in May, according to the most recent data from the […]
The French ocean carrier said it intends to have Singapore’s Neptune Orient Lines delisted from the Main Board of the Singapore Exchange as it pushes forward to acquire all of […]
The Singapore-based non-vessel-operating common carrier formed a new logistics services network, focusing on breakbulk and project cargo.
The Honolulu-based liner carrier will launch its South Pacific Express service in August, which will transport U.S. West Coast cargo transshipped at Honolulu to Samoa, American Samoa, Tonga and Fiji.
DB Schenker appoints senior finance and HR executives for North America team, while the Canadian Airports Council elects new chairman.
German ocean carrier Hapag-Lloyd reached an agreement with United Arab Shipping Company on a merger that would make Hapag-Lloyd the fifth largest container carrier in the world.
German ocean carrier Hapag-Lloyd reached an agreement with United Arab Shipping Company on a merger that would make Hapag-Lloyd the fifth largest container carrier in the world.
The Port of Oakland commissioners have unanimously awarded Executive Director Chris Lytle a new three-year contract, keeping him on board through July 2019.
The technologies needed to create remote and autonomous ships already exist, meaning it’s actually a matter of when it becomes a reality, not if, according to the Rolls-Royce led Advanced […]
The Dutch Tax and Customs Administration and participating terminal operators will no longer require a physical customs document to be submitted when transferring containers from one terminal to another at […]
The United States exported 794,537 net tons of steel in April, a 2.5 percent increase from March, but a year-over-year drop of nearly 6 percent.
The Panama Canal’s third lane opened for business, following Sunday’s transit of the 9,472-TEU COSCO Shipping Panama.
The 9,742-TEU containership COSCO Shipping Panama began its historic passage through the expanded waterway, construction of which began back in 2007, Sunday morning.
The U.S. Department of Transportation is looking into how delays at ports and other loading and unloading facilities may be affecting driver compliance with hours-of-service rules designed to increase safety.
Union Pacific’s failure to maintain its track and equipment resulted in broken and sheared lag bolts, which caused the June 3 derailment of a train near Mosier, Ore., according to […]
The global shipping industry will see earnings worsen, while freight rates will remain depressed amid ample supply, according to projections from the credit rating agency Moody’s Investors Service.
The Shanghai Containerized Freight Index rose 5.6 percent since last Friday, fueled by the strong increases from Shanghai to Northwest Europe and the Mediterranean.
The total value of cross-border freight between the United States and North American trading partners Canada and Mexico slipped another 3.2 percent year-over-year in April 2016, according to the Bureau […]
Major freight railroads in the United States employed 156,602 workers as of the middle of May, down 0.27 percent from the previous month and 11.69 percent year-over-year, according to data […]
Indonesia, Malaysia and the Philippines earlier this week agreed to several measures, including a designated transit corridor, to protect shipping interests in shared maritime areas that have been targeted by […]
Hamburg-based investment firm HCI Capital voted this week to change its name to Ernst Russ.
The e-commerce logistics provider opened its DHL eCommerce Shenzhen Distribution Center and will also expand its existing distribution centers in Shanghai and Hong Kong as part of its plans to […]
The Antwerp Port Authority has appointed a new CEO, while Virgin Atlantic Cargo picks VP of sales and Matson appoints a director.
The first commercial passage of a neopanamax containership through the new locks and third lane of the canal will occur on Sunday with the 9,472-TEU COSCO Shipping Panama.
The Federal Aviation Administration on Wednesday proposed two separate civil penalties against Amazon in the combined amount of $130,000 for alleged violations of federal hazardous materials regulations.