BlackRock Chairman Larry Fink says container shipping infrastructure is as critical to the future global economy as data centers and power grids.
Regulators in China will review the sale of port operations linked to the Panama Canal to a consortium led by a U.S. investor.
The Federal Maritime Commission wants to know whether foreign countries and their shipping companies are causing supply chain constraints around the world.
A consortium led by U.S. private equity firm BlackRock has agreed to purchase the Panama port terminals owned by CK Hutchison of Hong Kong.
President Donald Trump on Monday repeated his wish to “take back” the Panama Canal and initiate 25% tariffs against Mexico and Canada.
Sixteen Republicans have signed on to a bill that would pave the way for soon-to-be President Donald Trump to put the Panama Canal back under U.S. control.
Panamanian President José Raúl Mulino rejected President-elect Trump’s claims of Chinese interference and high fees to use the Panama Canal.
U.S. liquefied natural gas exports to China could be affected by an escalation of tariffs between the two countries, said Ricaurte Vasquez, administrator of the Panama Canal Authority.
In this edition: 2024 might not end up being the white knight, and the Panama Canal opens up for additional volumes.
The end of Panama’s dry season is in sight, and the Panama Canal Authority plans to welcome more vessels in the coming weeks.
Longer routes and bottlenecks are expected to have a larger ripple effect on the supply chain as a whole as volumes continue to tick up and disruptions show no sign of abating.
Port director Gene Seroka cited replenishing inventory and consumer spending as drivers of growth.
Hopes for a significant rebound in Panama Canal water levels to boost throughput will likely be met with a harsh reality over the next few months.
Mexico’s Isthmus of Tehuantepec rail corridor could complement container movements along the Panama Canal.
Monthly canal transits are now much lower than they were in 2015, the year before the Neopanamax locks went into operation.
Maersk has opted to bypass the drought-stricken Panama Canal and use rail to transport cargo across Panama.
The combination of Red Sea detours and Panama Canal restrictions is having a knock-on effect: higher Asia-West Coast rates.
Ocean shipping kept the world’s cargo flowing amid two wars and disruptions at both the Panama and Suez canals.
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.
U.S. diesel exports to South America’s west coast are heavily exposed to Panama Canal delays. Tanker rates have skyrocketed.
As the Panama Canal scales back on reservation slots, more ships without reservations wait longer to get through.
Zim’s headline loss looks ugly, but most of the decline was non-cash and it still has ample reserves to weather the downcycle.
In this edition: Cargo theft is on the rise; the Panama Canal is out, Suez is in; and Congress is a fan of the truck driver.
U.S. agribulk exports to Asia are taking the longer route via the Suez Canal due to Panama transit restrictions.
The water crisis at the Panama Canal is getting worse and will force more ships to take much longer routes.
An article from 1978 in American Shipper showed that the efficiency of the Panama Canal was an important factor in shipping — something that resonates today with the drought that has created a water level crisis in the canal.
In this edition: Cargo theft was on the rise over the holiday weekend; the Panama Canal wins a spot on bingo cards; and Coyote parts ways.
Persistent congestion and higher delays at the Panama Canal could lead to lasting changes in global LPG shipping flows.
Your latest info on all things cold chain
Panama’s drought poses a serious challenge to the country’s canal operations, but fallout to global trade remains limited.
Demand for global supply chain visibility tools is forecast to hit $39B by 2028.
This year’s peak season could see West Coast labor disruptions coincide with Panama Canal water levels impeding cargo flows to the East Coast.
While the Panama Canal has played a crucial role in maritime shipping, its construction was fraught with problems. This episode of Tracks Through Time takes a look back on the 119th anniversary of the start of construction.
The endless stories that make up the history of transportation and freight are chronicled in some of the most riveting nonfiction books, but they almost read like novels. Here are the five favorites for the FreightWaves Classics team.
By the start of the 1900s, about 40 U.S.-flag ships were operated by the country’s lumber titans, proving to the industry at the time that marine transport was more efficient than rail.
Container-ship transits of the Panama Canal are up as liners favor the East Coast. LNG transits are down as U.S. gas heads to Europe.
Texas ports like Freeport have embarked on major expansion projects to handle larger ships.
The president of Panama, Laurentino Cortizo Cohen, visited Port Houston Thursday to celebrate five years since his country completed the expansion of the Panama Canal.
Maersk and ZIM ships are being deployed in response to “customers’ increased cargo demands.”
On this episode of Midday Market Update, Kaylee Nix and Michael Vincent look at top headlines and figure out if the Panama Canal is at risk for blockage.
The Panama Canal Authority’s administrator discusses why he’s not worried about a container ship blocking the canal.
1997: “Comparing our project to the Panama Canal is to confuse an apple with an orange,” New York lawyer Don M. Bosco said. “Our competition won’t be the canal. Instead, we intend to take significant business from the 3,000-mile U.S. landbridge system.”
Container flows into U.S. ports have grown faster over the past three months than they have at any other time in the past decade.
Panama Canal congestion is not impeding transits of container ships but it is pumping up spot rates for LNG and LPG carriers.
Positive COVID recovery signal: LNG shipping is behaving normally again, with a typical seasonal spike.
Cargo mix and larger locks kept Panama Canal volumes rising despite headwinds.
Federal government asked to contribute $3 billion to cover projected losses.
Project will increase available ship capacity within two years.
Analysis concludes West Coast ports have lost 19.4% of market share since 2006.
Pandemic yet to heavily impact Caribbean container transshipment but fallout looms.
An in-depth look at coronavirus risks to Panama Canal transits.
The United States has plunged into a recession and imports may never recover, says the former Trailer Bridge CEO.
What ‘The Path Between the Seas’ teaches us about leadership and the need for a backup plan
All shipping interests through Panama Canal face new fees as water levels drop to ‘historic’ lows.
The Inter-American Committee on Ports leverages the combined influence of the national port authorities of its dozens of member nations to foster robust port development.
Advent Intermodal is seeking to increase transparency along the Panama “land bridge” between the coasts.
U.S. House green-lights measure to improve big-ship access.
Both canal stats and container transport pricing confirm continued momentum for U.S. East Coast ports.
Japanese ship owners have called — very, very politely — upon the Panama Canal Authority to give greater consideration to the shipping industry when hiking canal tolls.
Data confirms that U.S. importers are increasingly opting to bring Asian cargoes into East Coast ports.
Shipowner organizations are expressing concern about proposed modification of tolls at the Panama Canal on Jan. 1 and are asking for it be postponed until June 2020.
Ben Thrower explores the financial and political influence that China is wielding in Panama and around the Panama Canal.
East Coast ports controlled nearly half of all US TEU traffic last year, JLL report says
Ben Thrower recently visited the Panama Canal. He writes about the canal’s expansion and what that means to global trade and the maritime industry.
The Caribbean is container shipping’s all-important crossroads of the Americas.
Container ports at risk of earthquake aftershocks
New incentives for container shipping could bring more boxes through the canal to the U.S. East Coast.
LTL carrier Averitt Express has opened a large international DC near Port of Savannah to manage increased volumes at the port
Today on WTT we take a deep dive into the Idaho Hemp Trucker fiasco with journalist, Linda Baker, CEO Jacob Findlay has some huge news concerning FullBay, McLeod announces two new products, plus all the latest headlines, Big Deal, Little Deal, and the very first Comment Section Rodeo!
All this and more now on WTT?!?
A five-month drought in Panama has reduced freight carrying capacity of the country’s canal of ocean carriers by nearly one-fifth. It’s also giving an unseasonal boost to shipping rates for U.S. East Coast-bound cargo. Starting next week, the Panama Canal Authority will reduce the maximum allowable draft for the largest of ships that use the […]
The final part of the FreightWaves series on the Panama Canal focuses on dry bulk transits. The two trends: US agribulk cargo to Asia is down, Colombian coal to the west coast of South America and Asia is up.
A top executive of the Panama Canal Authority outlines the prospects for LNG, LPG and crude/product tanker transits through the larger locks of the waterway.
Chinese buses reduce oil demand by 270,000 barrels a day; Lyft has disclosed business risks ahead of IPO; Ford to expand electric-vehicle production at Michigan plant.
Congress is handing out $93 million in federal grants for improvements at the nation’s top 15 container ports.
$2 billion in capex over the next ten years will nearly double Savannah’s container traffic to 8 million TEUs annually.
We look at some of the details that make the Panama Canal such a useful tool in the shipping and freight world.
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.
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.
Mack Trucks and Volvo discuss performance of their remote software update systems; Uber Freight is using autonomous trucks in Arizona; air cargo was up 8% in January YOY; the 3,000th Neopanamax container ship transited the Panama Canal; intensifying freight flows are driving oil demand.
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.
Volkswagen has continued to increase its stake in Navistar following its initial buy-in in 2016. The company purchased approximately $10 million worth of shares in July through five transactions, according to documents filed with the SEC.
After five days, the port truckers strike in Los Angeles and Long Beach came to an end on Friday with striking truckers delivering a petition with 10,000 signatures on it to LA Mayor Eric Garcetti and Long Beach Mayor Robert Garcia.
FedEx said it was victimized by the massive cyber attack on Friday that hit businesses in an estimated 100 countries. Also, more venture capital money is flowing into trucking and 3-D printers may be altering the movement of freight in the near future.
