The World Trade Organization (WTO) has downgraded its outlook for global trade this year and next, citing tighter credit market conditions and escalating trade tensions as the main drivers.
The ports of LA and Long Beach witness a fall in imports due to upcoming tariffs; Hurricane Florence is now a Cat 2 storm; California passes bill that would make its electricity carbon-free by 2045.
Steam Logistics, one of the fastest growing companies in the United States, is a young Chattanooga-based international freight forwarder on a mission to bring an unprecedented level of customer service to ocean and air freight.
CargoX used a smart contract-powered bill of lading to reduce transfer and payment times to four minutes. FreightWaves spoke with CargoX’s CEO Stefan Kukman by phone.
SONAR’s new index shows the cost difference for Asian exporters moving goods into East Coast or West Coast ports. When combined with trucking spot prices, the Panama spread helps explain recent shifts in trade flows.
Elon Musk said that Saudi Arabia wants to buy Tesla; The New York Times wakes up to the driver pay issue; Amazon touts its private label brands ahead of the holiday season; lidar maker Quanergy appears to be struggling; Chicago’s mysterious surge in turndowns.
FreightWaves visited the completely automated APM Container Terminal at the Port of Rotterdam, which is faster, safer, and doesn’t lose boxes like a human-staffed terminal.
China wants to consolidate the Asia-North America container trade and drive supply chain efficiencies by operating a container terminal in Long Beach, but national security concerns may scuttle the COSCO-OOCL merger.
Eastbound containers and westbound LNG drove record Panama Canal volumes in May. Last month was the third time the canal has broken tonnage records since the expansion was completed in 2016.
The summer surge of freight hit the West Coast ports and is working its way through the national network. Now it’s Dallas’ turn to blow up: its outbound tender rejection index is outperforming the national average by 60% over the past three months.
Shippers and trucking companies can be charged high fees and detention costs by cargo lines and marine terminal operators for not picking up loads on time, but the Federal Maritime Commission is now going to investigate that practice.
The CEO of Maersk says that in 3-5 years, Maersk will be competing with UPS and FedEx, and recognized as one of their peers. But what’s the strategy?
Dubai Ports World will build new inland ports in two Indian states to handle increased container traffic coming into that nation’s ports.
“We’ve spent much of this decade working with business partners to build out the cargo delivery platform our customers want and in 2018 we’re putting it to work,” said Port of Oakland CEO Chris Lytle
The nature of the ship-management business makes it hard for the companies to pay attention to details, thus accumulating uncontrolled expenses over time, reducing profits and making the overall process inefficient.
2018’s unusually late Chinese New Year means that port traffic will normalize and then accelerate for pre-summer shipments at the same time as California’s March harvests, causing a truckload capacity crunch.
ZIM, MTI, and Maersk have all announced trials of blockchain-based solutions for shipping, from bills-of-lading to cybersecurity protections.
CMA CMG and MSC have entered orders for a total of 20 record-breaking 22,000 TEU ships, reflecting a long-term trend toward consolidation in larger vessels and growing confidence in maritime shipping rates.
Asian shippers are siding with the Notorious B.I.G.’s declaration of regional loyalty from the 1997 hit “Goin’ Back to Cali”: “If I got to choose a coast, I got to choose the East.” The expansion of the Panama Canal that doubled its capacity has started shifting freight to east coast ports, which have invested billions in dredging, construction, and equipment purchases to take advantage of the increased flow.
Boeing patented a design for an intermodal container-carrying plane that can pick up and drop off boxes directly onto the airport runway. This plane embodies an intermediate mode between currently existing high priority, high cost air freight and low priority, low cost railway and ship freight.
Few people get to experience what the journey of a global container goes through and what its like being on a ship as it makes the trip. With over 90% of global cargo moving via ship, its an important part of our world economy. See what you are missing.
The New York Shipping Exchange (NYSHEX) has secured a Series A round of funding for $13 million, according to a press release. The company has developed the first digital forward freight contract for global container shipping.
Picture a 40-foot container traveling from Mainland China to a suburb of Los Angeles. It often experiences more complications between the Port of LA and final destination than it does during its international trip. Is blockchain the solution to these problems?
