The Port of New Orleans is receiving a $73.77 million federal grant to assist in building the $1.8 billion Louisiana International Terminal.
Container ships have forsaken the Red Sea route but many bulk commodity vessels continue to transit the danger zone.
Cargo volumes were a mixed bag at Gulf Coast ports in November, with Houston reporting declines and New Orleans and Corpus Christi seeing gains.
A growing number of ship operators are refusing to transit the Red Sea and taking a very long detour around Africa instead.
It is unclear whether the reduction in emissions is a result of a genuine effort to mitigate environmental impact or a consequence of market dynamics.
Container-ship route diversions — first to avoid the Panama Canal, now to avoid Red Sea chaos — could help offset rate pressure from newbuilding deliveries.
Panama’s drought initially affected transits through the smaller locks. The pain has now spread to the larger Neopanamax locks.
Next year, U.S. importers must navigate canal restrictions, diversions from the Red Sea, more canceled sailings and, possibly, a port strike.
Imports have held up surprisingly well this year, but peak season’s end and canal restrictions are finally curbing volumes.
As the Panama Canal scales back on reservation slots, more ships without reservations wait longer to get through.
MSC, the world’s largest shipping line, faces the largest-ever shipper claim for alleged damages suffered during the supply chain crisis.
There has been a surge of attacks and threats targeting Israel-linked ships, including one incident where the U.S. Navy came to the rescue.
Time is running out for container lines as contract rate renewal season nears and spot rates fail to recover.
Panama Canal restrictions force more ships to transit the Bab el-Mandeb Strait off Yemen, where they face a hijacking risk.
J.B. Hunt and BNSF Railway are heralding a new era in freight transport with an intermodal partnership called Quantum. With it, they hope to add enough value to win market share from truckload freight.
Freight flows declined in Houston and Corpus Christi, Texas, in October, while container volumes rose at the Port of New Orleans.
Zim’s headline loss looks ugly, but most of the decline was non-cash and it still has ample reserves to weather the downcycle.
A fleet of container vessels is up for sale as a company backed by Greece’s Evangelos Marinakis switches its bets to LNG shipping.
Cargo volumes are holding up, but rising transport capacity is outpacing demand, pushing container shipping rates even lower.
Containerized imports have rebounded strongly in 2023, with October volumes up 33% from February’s low.
The union representing East and Gulf Coast dockworkers warned members to prepare for a possible strike starting Oct. 1, 2024.
“This is not a diet. This is a resetting of the baseline,” said Maersk CEO Vincent Clerc on his company’s job cuts.
The water crisis at the Panama Canal is getting worse and will force more ships to take much longer routes.
Profits being reported by container shipping lines are down from the stratosphere but many still surpass pre-COVID returns.
Now that port labor unrest is over, West Coast container terminals are starting to claw back some of their lost volumes.
Hub Group reported $1 billion in revenue and earnings per share of 97 cents during the third quarter.
This is CargoX’s second sizable partnership aimed at bringing more efficient import and export practices to global markets.
Cosco earned more than $800 million in the third quarter, while one analyst expects Zim to lose more than $200 million.
Geopolitics has always been a key driver of global shipping markets. How could the war in Israel affect rates?
Executives for shuttered logistics operator Tiger Cool Express have restarted an intermodal project in Washington state.
Peak season demand propelled imports higher in September, although softening spot rates point to a fourth-quarter slowdown.
The Chapter 11 filing of the ILWU dockworkers union dates back to a dispute over two electrician jobs in Oregon a decade ago.
Just when it looked like West Coast port labor drama had dissipated, the ILWU has filed for bankruptcy protection.
Cargo volumes were a mixed bag for Gulf Coast ports in August, with Corpus Christi and New Orleans reporting gains, while Houston saw a 20% decline in container shipments.
Inflation and economic fallout from the war are curbing demand just as a tidal wave of new ship supply hits the water.
The recent rate rebound turned out to be fleeting. As rates deteriorate yet again, shipping lines face mounting losses.
The supply chain crisis is over, but exporters are still paying more — and facing more logistical challenges — than they did before the pandemic.
The Freightos Baltic Index (FBX) is the world’s leading—and most accurate—index of market rates for 40′ containers.
The plot thickens in the legal battle between Bed Bath & Beyond and container lines. More carriers are in the crosshairs.
Project44’s Jett McCandless comments on the state of technology as the company completes a round of layoffs on Thursday.
Now that supply chains are back to normal, the typical effects of seasonality have returned, bringing U.S. imports up.
Fuel costs were overshadowed by skyrocketing freight rates amid the supply chain crisis. Now, fuel costs are much more important.
Have shipping stocks been a good bet? Here’s a look at their performance year to date and versus pre-COVID.
The Freightos Baltic Index (FBX) is the world’s leading—and most accurate—index of market rates for 40′ containers.
Asia-U.S. spot shipping rates have pulled back after a strong run-up, implying peak season may have passed its peak.
Houston and New Orleans reported increased monthly cargo during July, while Corpus Christi posted a rise in crude oil exports.
Average CEO compensation rose as ocean shipping company earnings increased, fueled in many cases by share-based compensation.
Panama’s drought poses a serious challenge to the country’s canal operations, but fallout to global trade remains limited.
Unprecedented supply-demand imbalances amid the pandemic led to historic dividend payouts by container shipping lines.
Spot ocean shipping rates from Europe to the U.S. held up much longer than trans-Pacific rates. Now they’ve sunk to historic lows.
Zim lost $213 million in the second quarter. Will rising trans-Pacific spot rates help it reverse course in the third?
The Freightos Baltic Index (FBX) is the world’s leading—and most accurate—index of market rates for 40′ containers.
Ocean carrier HMM attributed much of its first-half net-profit nosedive of 90% to overcapacity in the container shipping industry.
Containerized imports are rising seasonally, as expected. This year is on track to top pre-pandemic volumes by low single digits.
Investors in Danaos thought they were buying a container shipping stock. Now they’re invested in dry bulk, too.
After double-digit gains since June, trans-Pacific spot rates have just surpassed contract rates, according to Xeneta data.
Despite upgrading its full-year outlook, container shipping giant Maersk no longer sees a second-half demand rebound.
The Freightos Baltic Index (FBX) is the world’s leading—and most accurate—index of market rates for 40′ containers.
Shipping lines are seeing higher cargo volumes and successfully integrating newly built vessels into their fleets, says Textainer’s CEO.
“It is extremely difficult to announce a reasonable business forecast at this time,” said ONE, citing container shipping market uncertainties.
Because container liner profits plummeted off an extraordinarily high peak, some carriers are still posting hefty profits despite huge declines.
Two of the top three global logistics powers took a big profit haircut during the second quarter and aren’t very optimistic about a seasonal upturn in shipping.
Cargo volumes were a mixed bag for Gulf Coast ports in June, with Houston reporting container declines, while crude oil shipments boosted Corpus Christi.
After rapidly expanding its fleet during the boom, ocean carrier Zim is backpedaling and shedding ships.
Container lines did not manage post-boom vessel capacity as well as expected. In the trans-Pacific, they may be belatedly getting the hang of it.
Expectations for peak season have waned, but container lines may have bounced off the bottom.
Spreads between high- and low-sulfur fuels are down to pandemic levels and LNG has become much more economical.
Shipowners have invested billions in the LNG fuel option in the belief that it will benefit regulatory compliance and the environment.
U.S. rail imports from Vancouver and Prince Rupert are imperiled again. ILWU Canada has rejected the proposed dockworkers contract.
Shipping stocks in sectors with high deliveries of new ships are doing better than those with low orderbooks.
“I think this acquisition sends the message to the market that we are here to add real value,” said Ship Angel founder Graham Parker.
The Freightos Baltic Index (FBX) is the world’s leading—and most accurate—index of market rates for 40′ containers.
The National Defense Authorization Act amendment is aimed at blocking China’s ability to monitor U.S. container flows.
The extended strike in western Canada was beginning to affect U.S. supply chains. Its resolution limits the fallout.
The agreement should keep tanker and bulker orders in check, while increasing the risk of a future carbon tax on container shippers.
Tive’s technology advancements allow customers to see blind spots in air and ocean cargo.
June volumes of containerized imports were higher than normal and the National Retail Federation predicts more gains ahead.
U.S. imports via Canadian ports face rising fallout as the war of words escalates between dockworkers and employers.
This report shares an in-depth overview across the trucking, maritime and intermodal markets.
The Freightos Baltic Index (FBX) is the world’s leading—and most accurate—index of market rates for 40′ containers.
Sluggish demand is capping shipping lines’ income. In response, at least one carrier is reportedly moving to limit losses on legacy charters.
Declining demand for Chinese exports and reduced stimulus options threaten bulk commodity import prospects.
Two ships in 1975 traveled between Mediterranean and U.S. ports on a fixed 14-day schedule. But they also caught attention because they were able to carry different types of cargo, including containers as well as liquids.
Trans-Pacific spot shipping rates remain under pressure, slumping back again as U.S. import demand comes up short.
The Freightos Baltic Index (FBX) is the world’s leading—and most accurate—index of market rates for 40′ containers.
The U.S. supply chain has dodged a bullet. A new dockworker labor deal will keep the peace at West Coast ports.
“Patience is wearing thin. Neither side imagined it would take this long,” says the head of the Port of LA on dockworker contract talks.
This year’s peak season could see West Coast labor disruptions coincide with Panama Canal water levels impeding cargo flows to the East Coast.
Dockworkers who keep West Coast cargo flowing are highly paid. Their bid for even higher pay is starting to affect the cargo flow.
The Mexican government is offering incentives to attract investors to the Isthmus of Tehuantepec global trade hub project.
Demand remains tepid, yet shipping lines have pushed spot rates off the bottom and secured contract rates above spot levels.
This report shares an in-depth overview across the trucking, maritime and intermodal markets.
The dockworkers’ union and terminal employers are still sparring over wages and benefits more than a year after contract talks began.
This week in Borderlands: Texas seaport completes a $146 million container terminal expansion; a chemical logistics provider expands its Arizona operations; Bollore Logistics opens a supply chain facility in Mexico; and border agents seize $38 million worth of meth hidden in a kale shipment.
The Freightos Baltic Index (FBX) is the world’s leading—and most accurate—index of market rates for 40′ containers.
Older ships are being kept in service longer in pursuit of profits, heightening the risk of accidents and spills.
Container volume at ports in Houston and New Orleans fell in April, while Corpus Christi was bolstered by crude oil exports.
Not all cargo markets are back to pre-COVID “normal.” Container shipping rates to South America remain elevated.
More signs are surfacing that the second half of the year won’t be a panacea to the international freight recession. Seko Logistics says there won’t be a surge in orders that fuels transportation spending.
Bed Bath & Beyond “failed to manage its own supply chain” and “exacerbated the bottlenecks faced by other shippers,” alleges OOCL.
