Despite the fact that spot container freight indexes are still falling, and cargo shippers are signing annual contracts at sharply lower rates than last year, the container shipping industry is not behaving like an industry facing an imminent crisis. Charter rates paid by liner companies to charter container ships are no longer bottoming out but […]
Due to labor issues, the terminals at the Port of Los Angeles and the Port of Long Beach were closed starting Thursday evening, causing disruptions for logistics providers and missed truck appointments ahead of Easter weekend. Several stakeholders, including ports, trucking groups, shipping lines, and terminal operators, reported widespread terminal closures that continued throughout Friday. […]
Geopolitical tensions are affecting the global shipping industry, causing a split in shipping fleets and cargo flows. This is particularly evident in the tanker market, where different types of tankers are being used for different purposes by different groups. This has led to a bifurcation in the market, with some tankers transacting in U.S. dollars […]
Maersk Air Cargo, a subsidiary of A.P. Moller-Maersk, has announced that it has launched its first routes connecting the United States and China. The cargo airline will offer twice-weekly freighter service between Greenville-Spartanburg International Airport in South Carolina and Shenyang Taoxian International Airport, as well as between Chicago Rockford International Airport and Hangzhou. Miami-based Amerijet […]
The price of ship fuel has fallen to around half the peak seen after the Ukraine invasion, with second-quarter fuel surcharges for containerized cargo shippers set to deliver even greater savings. However, there are concerns that a switch to LNG or methanol as part of the energy transition would see future fuel costs rise back […]
A panel of U.S. seaport executives gathered at the American Association of Port Authorities’ annual legislative summit, “Strong Ports. Strong America.” to share their insights on the rest of 2023. As they prepare for the fall peak shipping season, the executives expressed concerns about the current volumes being below sustainable levels, with some blaming retailers […]
The Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES) has recommended the suspension of all commercial trade of species on its protected list with Mexico, citing the country’s failure to provide an adequate plan to protect its native totoaba fish. Totoaba fishing, which is illegal and highly lucrative due to […]
The global pharmaceutical logistics market is expected to experience substantial growth over the next decade, with a projected market value of USD 446.61 billion by 2030. This growth will be driven by several key factors, including increasing demand for pharmaceutical products, advancements in transportation technology, and the need for efficient supply chain management. Pharmaceutical logistics […]
While trans-Pacific rates have returned to pre-COVID levels, trans-Atlantic rates remain elevated and are still more than twice the rates in March 2019. The elevated rates are due to strong U.S. imports from Europe, particularly in building materials. The Drewry World Container Index (WCI) spot-rate assessment for Rotterdam, Netherlands, to New York was $5,061 per […]
On the 19th of March, CBP issued a fact sheet regarding 19 C.F.R. §111.32, a regulation that obligates customs brokers to report to CBP if they discontinue representation of a client who is attempting to intentionally defraud or commit any criminal act against the U.S. Government through the broker. The fact sheet contains examples of […]
