Industry News

  • Soaring air shipments spark capacity crunch and higher rates
    by Nov 18, 2017 1:42PM EST on November 18, 2017 at 6:42 pm

    Robust volumes in Asia-Europe and Asia-North American trades are driving up rates. Photo credit: Snowballing cross-border e-commerce and high levels of emergency shipments are driving up demand for air cargo, but some shippers’ intensifying need for speed to market is being threatened by limited capacity on planes in peak periods... […]

  • 'Open choice' chassis provision garners some industry support
    by Nov 17, 2017 4:13PM EST on November 17, 2017 at 9:13 pm

    A system of “open choice” would allow the shipper in a merchant haulage move to use a chassis provider of his choice, and not one mandated by the ocean carrier. Photo credit: the Journal of Commerce Ocean carriers’ vision to end the practice of providing chassis to customers in the US... […]

  • Trans-Pac spot rates plunge ahead of US import lull
    by Nov 17, 2017 3:50PM EST on November 17, 2017 at 8:50 pm

    Year-to-date import volumes have risen 5.5 percent to 19 million TEU. Photo credit: Shutterstock Spot rates from Asia to the West Coast this week fell at a clip nearly twice as fast as rates to the East Coast as carriers and beneficial cargo owners (BCOs) positioned themselves for a lull in... […]

  • Strong fruit exports keep Brazil-Europe rates elevated
    by Nov 17, 2017 3:28PM EST on November 17, 2017 at 8:28 pm

    Exports of mangoes and apples have been key contributors to growth in the Brazil-Europe trade. Photo credit: Shutterstock East coast of South America (ECSA)-Europe freight rates of between $1,300 and $1,500 per TEU are expected to maintain those levels or increase in the coming weeks as strong demand for fruit exports... […]

  • Dredging to make Mongla viable Chittagong alternative
    by Nov 17, 2017 12:23PM EST on November 17, 2017 at 5:23 pm

    Shippers using Chittagong are eager for an alternative after a sumer of costly congestion. Photo credit: Shutterstock. The Mongla port channel in Bangladesh will be dredged to enable ships with drafts of 10.5 meters (34 feet) to call, which when complete will make it a more viable alternative to the Chittagong... […]

  • Maersk’s Shamsie to lead North America operations
    by Nov 17, 2017 11:17AM EST on November 17, 2017 at 4:17 pm

    Digitizing operations will be a key responsibility for the new head of Maersk's North America division. Photo credit: Hugh R. Morley Maersk Line has appointed Omar Shamsie, president of the company’s Latin American and Caribbean operations, to head its North American division. Shamsie, a 28-year veteran of the carrier, will start in... […]

  • It is time to give shippers a choice on chassis
    by Nov 17, 2017 10:41AM EST on November 17, 2017 at 3:41 pm

    Ocean carriers’ vision to end the practice of providing chassis to customers in the US market has not succeeded. Yes, with its origins in the financial crisis and beginning officially in 2010, international carriers operating in the United States sold the chassis they owned to lessors. But although they do... […]

  • Mid-month rate increase fails to lift Asia-Europe spot rates
    by Nov 17, 2017 4:39AM EST on November 17, 2017 at 9:39 am

    Rising capacity is not helping Asia-Europe carriers raise freigt rates. Photo credit: Port of Hamburg Marketing Asia-North Europe spot rates slipped below $700 per TEU this week, an indication that carriers either decided not to implement previously announced Nov. 15 price increases on the trade or rising surplus capacity simply made... […]

  • Maersk to expand financing to shippers’ suppliers
    by Nov 16, 2017 4:53PM EST on November 16, 2017 at 9:53 pm

    Maersk Line is taking a pioneering new approach to trade finance. Photo credit: Shutterstock Maersk Line plans to expand a new program providing trade financing to customers by also providing credit to customers’ suppliers as well. The container line said it is close to sealing four loan agreements that are the first... […]

  • FMC invites testimony for detention-demurrage hearing
    by Nov 16, 2017 4:20PM EST on November 16, 2017 at 9:20 pm

    The costs of containers stranded in yards can mount quickly and unexpectedly. Photo credit: Shutterstock WASHINGTON — US federal maritime regulators are asking the maritime industry to testify in mid-January on whether demurrage and detention fees — totaling millions of dollars annually — can be considered unreasonable and therefore void. The US... […]

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