Import cargo volume at the nation's major retail container ports is expected to rise 8 percent this month over the same time last year as West Coast ports continue to recover from a backlog of cargo that built up before a tentative new labor agreement was signed, according to the monthly Global Port Tracker report released by the National Retail Federation and Hackett Associates.
Ocean freight rates for cargoes moving under contracts on major East-West routes have increased for the first time in years, according to Drewry's Benchmarking Club, a closed user group of multinational retailers and manufacturers seeking to more closely monitor their international freight costs.
Conflict in Yemen risks spilling out into the busy sea lanes that pass it and potentially disrupt the narrow Bab el-Mandeb passage through which nearly four million barrels of oil are shipped daily to Europe, the United States and Asia.
Global dry cargo demand growth, forecast at 5 percent per annum from 2016 to 2019, should be offset by falling project cargo volumes over the next 12 to 18 months, according to the latest edition of the Multipurpose Shipping Market Review and Forecaster, published by Drewry Maritime Research.
CaroTrans, a global non-vessel operating common carrier and ocean freight consolidator, has launched an all-water, less-than-containerload import service form Shanghai to Atlanta, via the Port of Savannah, Ga.
More than 4,400 ships bring nearly $400bn worth of goods through the ports of Los Angeles and Long Beach every year, a crucial link in the global supply chain of factories, warehouses, docks, highways and rail lines. Most blue-collar workers along the chain have seen their wages slashed with the quick rise of global trade. But the longshoremen who move the goods the shortest distance, between ship and shore, have shrewdly protected pay that trumps that of many white-collar managers.
If we're to believe the big container lines, ever-larger ships are the remedy for their financial woes. Why, then, are so many of them still losing money?
Assuming that the rank and file of the International Longshore and Warehouse Union (ILWU) ratifies the new five-year contract negotiated with terminal operators, West Coast ports can finally focus on getting container-handling operations back to normal. So is everyone happy?
Congestion at the U.S. West Coast ports could take as much as two months to unwind, according to port and trade group officials, with retailers and other companies bracing for further shipment delays after the apparent resolution of a months-long labor dispute.