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rail network between China and Europe, but the route has evolved in the past two years from an alternative to the heavily sanctioned northern route through Russia into a critical lifeline for the booming economies of Central Asia. Huge investments are being made across the region as the logistics infrastructure struggles to catch up with demand, attendees at the European Silk Road Summit were told this week. “We see a future for the middle corridor, and we are putting our money where our mouths are and investing billions in projects in Central Asia,” said Luis Blancas, senior transport and logistics specialist at the World Bank. “The middle corridor is an entirely discretionary connection for China, but for Central Asia it is a lifeline connection to the world. It's a lifeline for Turkey, Azerbaijan, Georgia. They want to trade more with Central Asia and the middle corridor is very important for that.” That the middle corridor was a viable trade route, as well as an improving option for China-Europe shippers, was a theme expressed time and again by speakers at the summit. Emil Mammadov, advisor to the chairman of Azerbaijan Railways, said the future of the middle corridor was “fully related” to the economies of Central Asia where demand was developing fast and rail capacity had to match that growth. “The middle corridor is not just an alternative, it is a working corridor,” he told the summit. “This year to date, we have had more than 260 block trains from China going through Azerbaijan and by the end of December that will have increased to 300 trains, more than 10 times higher than in 2023. “We are in discussions with China and with our counterparts in Central Asia to reach a minimum of 1,000 block trains next year,” he added. China attention moves to middle corridor Also under way is the development of the southern part of the middle corridor that will improve rail connections through Turkmenistan, Uzbekistan, Kyrgyzstan and Tajikistan, with significant investment being made by China in construction of the routes. “China's participation in the middle corridor is making a huge difference,” Blancas told the summit. “China was primarily focused on the northern corridor for a long time, but over the last couple of years, with what's going on in Ukraine, the China ‘Belt and Road Initiative’ is really targeting the middle corridor.” But the increase in rail volume flowing across Central Asian countries is placing growing pressure on key transit points. For instance, the Georgian port of Poti on the Black Sea where rail freight is transferred to ships is 99% utilized, according to Blancas. “We are one of the bottlenecks,” acknowledged Mario Escobar, business development manager for APM Terminals Poti. “It's important that we accept that and work towards fixing it. Today, we have a port that can handle 600,000 TEUs per year, and in 2023 we handled 592,000 TEUs. It is a small port for the cargo that needs to transit this region, and the rail infrastructure is not sufficient to move all that cargo.” APM Terminals is planning to expand the capacity of its Poti terminals to 1.2 million TEUs, but Escobar said the improvement in infrastructure must be accompanied by investment from rail companies into locomotives, wagons and platforms to handle the rising volume. Reopening Red Sea will see cargo shift to ocean Martin Koubek, head of the Silk Road for intermodal operator Metrans, said the middle corridor would not be the choice for cargo from China to Europe once most container traffic returned to routing through the Red Sea. “It takes 21 days via the Suez from Shenzhen to Piraeus, so when the Red Sea is again used, why would you send rail cargo on the middle corridor that is longer and more expensive?” he told the Journal of Commerce on the sidelines of the summit. While the shift of cargo from rail to ocean would have a significant impact on the rail business, it would be barely noticed by container shipping with less than 1% of containerized trade between Asia and Europe transported by rail. But Koubek agreed that the middle corridor would be crucial for the Central Asian economies. “They are all growing, and the route will serve their increasing trade with China,” he said. Following the Russian invasion of Ukraine in February 2022, containerized trade on the northern route from China to North Europe largely dried up . Most of the cargo was moved to ocean but forwarders and rail freight operators began testing the middle corridor that runs from China, through Central Asia, the Caspian Sea, Black Sea and on into Turkey or eastern Europe. There remain significant hurdles to overcome, such as cross border customs issues, multiple cargo handovers from rail to ferry to road and back to rail, high rates and unreliable transit times. Those issues are being addressed by service providers, and the average transit time from Xian to Duisburg in southern Germany is now around 30 days. When the northern route is again fully utilized, most of the China to Europe containerized rail cargo using the middle corridor or ocean will quickly return to the Russian transit route, said Alana Topak, managing director for DB Cargo Eurasia. “That means it is really important all the countries in Central Asia work together to address the issues still facing the middle route and increase volume travelling both ways, otherwise the rates will be high, and it won’t make sense,” she said. Contact Greg Knowler at greg.knowler@spglobal.com .","BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eVIENNA — Geopolitics shaped the middle corridor rail network between China and Europe, but the route has evolved in the past two years from an alternative to the heavily sanctioned northern route through Russia into a critical lifeline for the booming economies of Central Asia. \u003c/p\u003e\u003cp\u003eHuge investments are being made across the region as the logistics infrastructure struggles to catch up with demand, attendees at the European Silk Road Summit were told this week. \u003c/p\u003e\u003cp\u003e“We see a future for the middle corridor, and we are putting our money where our mouths are and investing billions in projects in Central Asia,” said Luis Blancas, senior transport and logistics specialist at the World Bank. \u003c/p\u003e\u003cp\u003e“The middle corridor is an entirely discretionary connection for China, but for Central Asia it is a lifeline connection to the world. It's a lifeline for Turkey, Azerbaijan, Georgia. They want to trade more with Central Asia and the middle corridor is very important for that.” \u003c/p\u003e\u003cp\u003eThat the middle corridor was a viable trade route, as well as an improving option for China-Europe shippers, was a theme expressed time and again by speakers at the summit. \u003c/p\u003e\u003cp\u003eEmil Mammadov, advisor to the chairman of Azerbaijan Railways, said the future of the middle corridor was “fully related” to the economies of Central Asia where demand was developing fast and rail capacity had to match that growth. \u003c/p\u003e\u003cp\u003e“The middle corridor is not just an alternative, it is a working corridor,” he told the summit. “This year to date, we have had more than 260 block trains from China going through Azerbaijan and by the end of December that will have increased to 300 trains, more than 10 times higher than in 2023. \u003c/p\u003e\u003cp\u003e“We are in discussions with China and with our counterparts in Central Asia to reach a minimum of 1,000 block trains next year,” he added. \u003c/p\u003e\u003ch3\u003eChina attention moves to middle corridor \u003c/h3\u003e\u003cp\u003eAlso under way is the development of the southern part of the middle corridor that will improve rail connections through Turkmenistan, Uzbekistan, Kyrgyzstan and Tajikistan, with significant investment being made by China in construction of the routes. \u003c/p\u003e\u003cp\u003e“China's participation in the middle corridor is making a huge difference,” Blancas told the summit. “China was primarily focused on the northern corridor for a long time, but over the last couple of years, with what's going on in Ukraine, the China ‘Belt and Road Initiative’ is really targeting the middle corridor.” \u003c/p\u003e\u003cp\u003eBut the increase in rail volume flowing across Central Asian countries is placing growing pressure on key transit points. For instance, the Georgian port of Poti on the Black Sea where rail freight is transferred to ships is 99% utilized, according to Blancas. \u003c/p\u003e\u003cp\u003e“We are one of the bottlenecks,” acknowledged Mario Escobar, business development manager for APM Terminals Poti. “It's important that we accept that and work towards fixing it. Today, we have a port that can handle 600,000 TEUs per year, and in 2023 we handled 592,000 TEUs. It is a small port for the cargo that needs to transit this region, and the rail infrastructure is not sufficient to move all that cargo.” \u003c/p\u003e\u003cp\u003eAPM Terminals is planning to expand the capacity of its Poti terminals to 1.2 million TEUs, but Escobar said the improvement in infrastructure must be accompanied by investment from rail companies into locomotives, wagons and platforms to handle the rising volume. \u003c/p\u003e\u003ch3\u003eReopening Red Sea will see cargo shift to ocean \u003c/h3\u003e\u003cp\u003eMartin Koubek, head of the Silk Road for intermodal operator Metrans, said the middle corridor would not be the choice for cargo from China to Europe once most container traffic returned to routing through the Red Sea. \u003c/p\u003e\u003cp\u003e“It takes 21 days via the Suez from Shenzhen to Piraeus, so when the Red Sea is again used, why would you send rail cargo on the middle corridor that is longer and more expensive?” he told the \u003ci\u003eJournal of Commerce\u003c/i\u003e on the sidelines of the summit. \u003c/p\u003e\u003cp\u003eWhile the shift of cargo from rail to ocean would have a significant impact on the rail business, it would be barely noticed by container shipping with less than 1% of containerized trade between Asia and Europe transported by rail. \u003c/p\u003e\u003cp\u003eBut Koubek agreed that the middle corridor would be crucial for the Central Asian economies. “They are all growing, and the route will serve their increasing trade with China,” he said. \u003c/p\u003e\u003cp\u003eFollowing the Russian invasion of Ukraine in February 2022, \u003ca href=\"https://www.joc.com/article/rapid-rail-transit-via-sanctions-hit-russia-has-limited-appeal-for-european-shippers-5220672\"\u003econtainerized trade on the northern route from China to North Europe largely dried up\u003c/a\u003e. Most of the cargo was moved to ocean but forwarders and rail freight operators began testing the middle corridor that runs from China, through Central Asia, the Caspian Sea, Black Sea and on into Turkey or eastern Europe. \u003c/p\u003e\u003cp\u003eThere remain significant hurdles to overcome, such as cross border customs issues, multiple cargo handovers from rail to ferry to road and back to rail, high rates and unreliable transit times. Those issues are being addressed by service providers, and the average transit time from Xian to Duisburg in southern Germany is now around 30 days. \u003c/p\u003e\u003cp\u003eWhen the northern route is again fully utilized, most of the China to Europe containerized rail cargo using the middle corridor or ocean will quickly return to the Russian transit route, said Alana Topak, managing director for DB Cargo Eurasia. \u003c/p\u003e\u003cp\u003e“That means it is really important all the countries in Central Asia work together to address the issues still facing the middle route and increase volume travelling both ways, otherwise the rates will be high, and it won’t make sense,” she said. \u003c/p\u003e\u003cp\u003e \u003ci\u003eContact Greg Knowler at \u003c/i\u003e\u003ca href=\"mailto:greg.knowler@spglobal.com\"\u003e\u003ci\u003egreg.knowler@spglobal.com\u003c/i\u003e\u003c/a\u003e\u003ci\u003e.\u003c/i\u003e \u003c/p\u003e\u003c/div\u003e","Metadata":{"BylineOverwrite":null,"AuthorCompanyOrEventLink":null,"PaywallLocked":true,"FeatureImageCopyright":"The Georgian port of Poti on the Black Sea is a key transit point on the middle corridor where rail freight is shifted to ferries. Photo credit: APMT.","EventDate":null,"__typename":"Metadata"},"ModDate":"1732965735180","Taxonomy":{"MainCategory":[{"Id":"2","Name":"Surface","Redirects":[{"Path":"/surface","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"AdditionalCategories":[{"Id":"36","Name":"Forwarding","Redirects":[{"Path":"/maritime/container-shipping-news/forwarding","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"52","Name":"International rail","Redirects":[{"Path":"/surface/rail-news/international-rail","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"53","Name":"Intermodal providers","Redirects":[{"Path":"/surface/rail-news/intermodal-providers","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"ContentType":"ARTICLE","__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"Greg Knowler, Senior Editor Europe","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1732965734000","TitlePlainText":"Booming Central Asian economies lend lifeline to China-Europe rail","Published":true,"Redirects":[{"Path":"/article/booming-central-asian-economies-lend-lifeline-to-china-europe-rail-5866225","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eRising regional trade along the old Silk Road between China and Europe is driving up containerized rail volume on the middle corridor and the logistics infrastructure is struggling to keep up. \u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"Rising regional trade along the old Silk Road between China and Europe is driving up containerized rail volume on the middle corridor and the logistics infrastructure is struggling to keep up.","__typename":"Document"},{"Id":"5866031_JournalOfCommerce","Attachments":[{"FileName":"5866030_0.1.PNG","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyPlainText":"Chinese energy producer Goldwind will be supplying both members of the Gemini Cooperation with green methanol from 2026. Hapag-Lloyd will receive 250,000 tons per year in a deal signed this week while its partner Maersk will get 500,000 tons a year according to an agreement made last year. The green methanol will consist of a blend of bio- and e-methanol and enable a greenhouse gas (GHG) emissions reduction of at least 70%, Hapag-Lloyd said in a statement Thursday. “With the agreement, we are securing a significant proportion of our requirements for green fuels,” said Hapag-Lloyd CEO Rolf Habben Jansen. “This will bring us an important step closer to our goal of achieving net-zero fleet operations by 2045.” Hapag-Lloyd and Seaspan are converting five 10,100-TEU charter ships to a methanol dual-fuel propulsion system that will be ready in 2026. The carrier also made a recent order for 24 dual-fuel vessels capable of sailing on liquefied natural gas (LNG). By 2030, Hapag-Lloyd aims to reduce the absolute GHG emissions of the fleet by about one-third compared with 2022. Compared with conventional fuels, the ordered quantity of green methanol can save a total of up to 400,000 metric tons of CO2e emissions in fleet operations per year. Hapag-Lloyd’s decarbonization credentials were burnished by its recent winning of a tender from the Zero Emission Maritime Buyers Alliance (ZEMBA) aimed at fast-tracking commercial deployment of green shipping services at scale to create a competitive market for those services. About 70% of the total 1.7 million TEUs of ship orders made so far this year were for ships capable of sailing on methanol, LNG or hydrogen, according to Sea-web, a sister company of the Journal of Commerce within S\u0026P Global. The need to keep fuel options open and avoid being locked into one pathway was illustrated in a recent Maersk order for dual-fuel vessels totaling 800,000 TEUs capable of sailing on methanol as well as LNG. Contact Greg Knowler at greg.knowler@spglobal.com .","BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eChinese energy producer Goldwind will be supplying both members of the \u003ca href=\"https://www.joc.com/article/hapag-lloyd-says-gemini-alliance-cargo-bookings-to-open-dec-3-5846853\"\u003eGemini Cooperation\u003c/a\u003e with green methanol from 2026. Hapag-Lloyd will receive 250,000 tons per year in a deal signed this week while its partner \u003ca href=\"https://www.joc.com/article/maersk-inks-new-methanol-sourcing-deal-with-chinese-supplier-5234419\"\u003eMaersk will get 500,000 tons a year\u003c/a\u003e according to an agreement made last year. \u003c/p\u003e\u003cp\u003eThe green methanol will consist of a blend of bio- and e-methanol and enable a greenhouse gas (GHG) emissions reduction of at least 70%, Hapag-Lloyd said in a statement Thursday. \u003c/p\u003e\u003cp\u003e“With the agreement, we are securing a significant proportion of our requirements for green fuels,” said Hapag-Lloyd CEO Rolf Habben Jansen. “This will bring us an important step closer to our goal of achieving net-zero fleet operations by 2045.” \u003c/p\u003e\u003cp\u003eHapag-Lloyd and Seaspan are converting five 10,100-TEU charter ships to a methanol dual-fuel propulsion system that will be ready in 2026. The carrier also made a recent order for 24 dual-fuel vessels capable of sailing on liquefied natural gas (LNG). \u003c/p\u003e\u003cp\u003eBy 2030, Hapag-Lloyd aims to reduce the absolute GHG emissions of the fleet by about one-third compared with 2022. Compared with conventional fuels, the ordered quantity of green methanol can save a total of up to 400,000 metric tons of CO2e emissions in fleet operations per year. \u003c/p\u003e\u003cdiv class=\"wrapper-narrow\"\u003e\u003cdynamic-object type=\"jocchartid\" resource-id=\"1a054077-7728-4ffd-abb8-b7aff17c3235\"\u003e\u003c/dynamic-object\u003e\u003c/div\u003e\u003cp\u003eHapag-Lloyd’s decarbonization credentials were burnished by its recent \u003ca href=\"https://www.joc.com/article/hapag-lloyd-wins-asia-europe-green-shipping-tender-to-launch-next-year-5240949\"\u003ewinning of a tender from the Zero Emission Maritime Buyers Alliance\u003c/a\u003e (ZEMBA) aimed at fast-tracking commercial deployment of green shipping services at scale to create a competitive market for those services. \u003c/p\u003e\u003cp\u003eAbout 70% of the total 1.7 million TEUs of ship orders made so far this year were for ships capable of sailing on methanol, LNG or hydrogen, according to Sea-web, a sister company of the \u003ci\u003eJournal of Commerce\u003c/i\u003e within S\u0026amp;P Global. \u003c/p\u003e\u003cp\u003eThe need to keep fuel options open and avoid being locked into one pathway was illustrated \u003ca href=\"https://www.joc.com/article/maersks-lng-order-hedges-bet-on-green-fuel-technology-ceo-5703200\"\u003ein a recent Maersk order for dual-fuel vessels totaling 800,000 TEUs\u003c/a\u003e capable of sailing on methanol as well as LNG. \u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Greg Knowler at \u003c/i\u003e\u003ca href=\"mailto:greg.knowler@spglobal.com\"\u003e\u003ci\u003egreg.knowler@spglobal.com\u003c/i\u003e\u003c/a\u003e\u003ci\u003e.\u003c/i\u003e \u003c/p\u003e\u003c/div\u003e","Metadata":{"BylineOverwrite":null,"AuthorCompanyOrEventLink":null,"PaywallLocked":true,"FeatureImageCopyright":"Hapag-Lloyd and Seaspan are converting five 10,100-TEU charter ships to a methanol dual-fuel propulsion system that will be ready in 2026. Photo credit: Hapag-Lloyd.","EventDate":null,"__typename":"Metadata"},"ModDate":"1732924334463","Taxonomy":{"MainCategory":[{"Id":"1","Name":"Maritime","Redirects":[{"Path":"/maritime","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"AdditionalCategories":[{"Id":"9","Name":"Container Shipping News","Redirects":[{"Path":"/maritime/container-shipping-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"34","Name":"Container lines","Redirects":[{"Path":"/maritime/container-shipping-news/container-lines","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"ContentType":"ARTICLE","__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"Greg Knowler, Senior Editor Europe","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1732896614000","TitlePlainText":"Hapag-Lloyd joins Maersk in Chinese methanol supply deal","Published":true,"Redirects":[{"Path":"/article/hapag-lloyd-joins-maersk-in-chinese-methanol-supply-deal-5866031","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eHapag-Lloyd has contracted with a Chinese energy producer for green methanol to power five 10,100-TEU chartered ships with methanol dual-fuel propulsion systems.\u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"Hapag-Lloyd has contracted with a Chinese energy producer for green methanol to power five 10,100-TEU chartered ships with methanol dual-fuel propulsion systems.","__typename":"Document"},{"Id":"5846861_JournalOfCommerce","Attachments":[{"FileName":"5846860_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyPlainText":"The incoming Trump administration’s pick for US labor secretary has drawn mixed reactions from the logistics industry, with the International Longshoremen’s Association (ILA) and Teamsters viewing Rep. Lori Chavez-DeRemer as solidly behind unions while trucking groups see a foe of the owner-operator driver model used widely by motor carriers. Last week’s announcement from President-elect Donald Trump that he would nominate the Oregon congresswoman drew praise from the ILA, which said in a statement, “Rep. Chavez-DeRemer built a strong pro-worker record protecting their rights to organize.” “We look forward to working with Ms. Chavez-DeRemer and [the Trump] administration on legislation and policies that protect workers’ rights, safety and honors their commitment to building a strong economy...,” ILA President Harold Daggett said in the statement. The ILA, of course, may have to draw on the incoming administration’s support in the event it’s not able to successfully settle on a new contract with maritime employers by the Jan. 15 expiration of the contract extension that ended October’s three-day port strike along the US East and Gulf coasts. While the ILA did not outright endorse either candidate in the 2024 presidential election, Daggett, who met with Trump last year, said the incoming president “ is looking to take care of things for the unions .” The ILA also praised the Biden administration and acting Labor Secretary Julie Su for helping settle wage discussions with maritime employers back in October. Sean O’Brien, president of the 1.3-million-member International Brotherhood of Teamsters, congratulated Chavez-DeRemer shortly after her nomination, saying in a statement that Trump “pledged to listen to workers and find common ground to protect and respect labor in America.” First term in Congress Chavez-DeRemer, who is serving her first term in Congress, co-sponsored 12 House bills that touched on labor and employment policy. Among union-focused activities, she co-sponsored a bill that would enshrine the rights of state public sector employees to organize and bargain collectively and another bill to ensure similar rights for state public safety employees. She has also supported the Protecting the Right to Organize (PRO) Act, which has drawn some 218 co-sponsors in the House. The PRO Act expands federal protections for unions by preventing employers from requiring attendance at meetings designed to dissuade union organizing or making workers sign pledges against union organizing. It also prohibits retaliation against employees for union organizing. PRO also allows union members to participate in secondary strikes and prohibits claims against unions that conduct such strikes. More controversially, though, the PRO Act makes it more difficult for employers to classify a worker as an independent contractor rather than a full-time employee. The PRO Act will limit the independent contractor definition to those workers who are not under an employer’s direct control for how the service is performed, or when the service is not part of the employer’s regular course of work Those criteria mirror the so-called ABC test that is used in states including California and New Jersey to classify independent contractors and has been widely criticized for forcing motor carriers to drop owner-operator drivers in favor of employee drivers. The PRO Act also creates the new category of a “joint employer” that determines or controls how an employee of another firm performs their job. Critics have said that it could create a condition where a marine terminal can be classified as a joint employer of a port trucker due to the instructions and requirements for drivers entering their facility. The American Trucking Associations said in a statement following Chavez-DeRemer’s nomination that her “anti-trucking policies undermine our essential workforce, threaten the right of independent truckers to choose their own career path, and impede the efficiency of the supply chain.” Contact Michael Angell at michael.angell@spglobal.com .","BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eThe incoming Trump administration’s pick for US labor secretary has drawn mixed reactions from the logistics industry, with the International Longshoremen’s Association (ILA) and Teamsters viewing Rep. Lori Chavez-DeRemer as solidly behind unions while trucking groups see a foe of the owner-operator driver model used widely by motor carriers. \u003c/p\u003e\u003cp\u003eLast week’s announcement from President-elect Donald Trump that he would nominate the Oregon congresswoman drew praise from the ILA, which said in a statement, “Rep. Chavez-DeRemer built a strong pro-worker record protecting their rights to organize.” \u003c/p\u003e\u003cp\u003e“We look forward to working with Ms. Chavez-DeRemer and [the Trump] administration on legislation and policies that protect workers’ rights, safety and honors their commitment to building a strong economy...,” ILA President Harold Daggett said in the statement. \u003c/p\u003e\u003cp\u003eThe ILA, of course, may have to draw on the incoming administration’s support in the event it’s not able to successfully settle on a new contract with maritime employers by the Jan. 15 expiration of the contract extension that ended October’s three-day port strike along the US East and Gulf coasts. \u003c/p\u003e\u003cp\u003eWhile the ILA did not outright endorse either candidate in the 2024 presidential election, Daggett, who met with Trump last year, said the incoming president “\u003ca href=\"https://www.joc.com/article/ila-looking-for-local-ports-to-bring-in-more-union-foremen-5244993\"\u003eis looking to take care of things for the unions\u003c/a\u003e.” The ILA also praised \u003ca href=\"https://www.joc.com/article/behind-the-scenes-white-house-arm-twisting-got-ila-wage-deal-done-5747241\"\u003ethe Biden administration and acting Labor Secretary Julie Su\u003c/a\u003e for helping settle wage discussions with maritime employers back in October. \u003c/p\u003e\u003cp\u003eSean O’Brien, president of the 1.3-million-member International Brotherhood of Teamsters, congratulated Chavez-DeRemer shortly after her nomination, saying in a statement that Trump “pledged to listen to workers and find common ground to protect and respect labor in America.” \u003c/p\u003e\u003ch3\u003eFirst term in Congress \u003c/h3\u003e\u003cp\u003eChavez-DeRemer, who is serving her first term in Congress, co-sponsored 12 House bills that touched on labor and employment policy. Among union-focused activities, she co-sponsored a bill that would enshrine the rights of state public sector employees to organize and bargain collectively and another bill to ensure similar rights for state public safety employees. \u003c/p\u003e\u003cp\u003eShe has also supported the Protecting the Right to Organize (PRO) Act, which has drawn some 218 co-sponsors in the House. \u003c/p\u003e\u003cp\u003eThe PRO Act expands federal protections for unions by preventing employers from requiring attendance at meetings designed to dissuade union organizing or making workers sign pledges against union organizing. It also prohibits retaliation against employees for union organizing. PRO also allows union members to participate in secondary strikes and prohibits claims against unions that conduct such strikes. \u003c/p\u003e\u003cp\u003eMore controversially, though, the PRO Act makes it more difficult for employers to classify a worker as an independent contractor rather than a full-time employee. The PRO Act will limit the independent contractor definition to those workers who are not under an employer’s direct control for how the service is performed, or when the service is not part of the employer’s regular course of work \u003c/p\u003e\u003cp\u003eThose criteria mirror \u003ca href=\"https://www.joc.com/article/proposed-federal-rule-threatens-independent-contractor-model-in-trucking-opponents-5242331\"\u003ethe so-called ABC test that is used in states including California\u003c/a\u003e and \u003ca href=\"https://www.joc.com/article/stg-shifting-from-drayage-carrier-to-broker-after-new-jersey-legal-challenge-5703212\"\u003eNew Jersey\u003c/a\u003e to classify independent contractors and has been widely criticized for forcing motor carriers to drop owner-operator drivers in favor of employee drivers. \u003c/p\u003e\u003cp\u003eThe PRO Act also creates the new category of a “joint employer” that determines or controls how an employee of another firm performs their job. Critics have said that it could create a condition where a marine terminal can be classified as a joint employer of a port trucker due to the instructions and requirements for drivers entering their facility. \u003c/p\u003e\u003cp\u003eThe American Trucking Associations said in a statement following Chavez-DeRemer’s nomination that her “anti-trucking policies undermine our essential workforce, threaten the right of independent truckers to choose their own career path, and impede the efficiency of the supply chain.” \u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Michael Angell at \u003c/i\u003e\u003ca href=\"mailto:michael.angell@spglobal.com \"\u003e\u003ci\u003emichael.angell@spglobal.com\u003c/i\u003e\u003c/a\u003e. \u003c/p\u003e\u003c/div\u003e","Metadata":{"BylineOverwrite":null,"AuthorCompanyOrEventLink":null,"PaywallLocked":true,"FeatureImageCopyright":"Chavez-DeRemer has co-sponsored bills that would expand the rights of unions and would make it harder to hire independent contractors. Photo credit: BigBlues / Shutterstock.com.","EventDate":null,"__typename":"Metadata"},"ModDate":"1732741514920","Taxonomy":{"MainCategory":[{"Id":"16","Name":"Transport, Trade and Regulation News","Redirects":[{"Path":"/supply-chain/transport-trade-and-regulation-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"AdditionalCategories":[{"Id":"39","Name":"Drayage","Redirects":[{"Path":"/maritime/port-news/drayage","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"45","Name":"Longshore labor","Redirects":[{"Path":"/maritime/port-news/longshore-labor","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"50","Name":"Trucking labor","Redirects":[{"Path":"/surface/trucking-news/trucking-labor","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"ContentType":"ARTICLE","__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"Michael Angell, Senior Editor","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1732737138000","TitlePlainText":"Trump’s labor pick draws longshore and Teamster praise but trucker ire","Published":true,"Redirects":[{"Path":"/article/trumps-labor-pick-draws-longshore-and-teamster-praise-but-trucker-ire-5846861","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eThe selection of Oregon Rep. Lori Chavez-DeRemer is seen as favorable to unions, with the new administration potentially facing the need to intervene if ILA contract talks aren’t settled before Trump takes office.\u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"The selection of Oregon Rep. Lori Chavez-DeRemer is seen as favorable to unions, with the new administration potentially facing the need to intervene if ILA contract talks aren’t settled before Trump takes office.","__typename":"Document"},{"Id":"5846853_JournalOfCommerce","Attachments":[{"FileName":"5846849_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyPlainText":"Gemini Cooperation, the new Maersk/Hapag-Lloyd alliance, will open cargo bookings beginning Dec. 3, two months before the official Feb. 1 launch of the network, Hapag-Lloyd confirmed Wednesday. February voyages will be available when the booking portal opens, the carrier said in a customer advisory. “As our 2025 network will be fully phased in only after the transition from our current THE Alliance network during 2025, not all Gemini Cooperation voyages might be reflected in our schedule yet,” Hapag-Lloyd said. The carrier’s online schedules only cover vessel arrivals at the destination port up to the end of January, just before Hapag-Lloyd’s membership in THE Alliance ends. Gemini will provide 56 mainline and shuttle services covering seven east-west trades on a hub-and-spoke network and utilizing about 340 vessels with a total capacity of 3.7 million TEUs. The Gemini carriers have continued to tweak the network after releasing the final schedule on Oct. 9, which reflected their decision to choose the Cape of Good Hope option for vessel routings to avoid the threat of militant attacks in the Red Sea. The latest change, announced on Nov. 18, was to shift calls from the UK’s Felixstowe port to London Gateway on three Asia-Europe services. MSC updates east-west network The news from Gemini came as Mediterranean Shipping Co. released on Wednesday the latest update to its standalone east-west network that will launch in February. The changes feature extra port calls to “optimize our Asia to Europe, US and Canada connectivity,” the carrier said in a customer advisory. The biggest difference is MSC’s Mustang service connecting Asia to the Northwest US and Canada will be added to its standalone east-west network. The new rotation will be Xiamen–Yantian–Ningbo–Shanghai–Busan–Seattle–Vancouver–Portland–Busan. Other changes include the addition of calls at Vung Tau and Haiphong in Vietnam on MSC’s Pearl and Chinook services; Nansha on its Asia-Europe Lion and Dragon services; Yantian (westbound) and Yokohama in place of Busan on its Swan-Sentosa service; and Busan (westbound) on its Asia-US Orient and Lonestar services. MSC has also added a call at Vizhinjam in India on its Asia-Europe Jade service, with Colombo also added to both its Britannia service connecting Asia and North Europe and its eastbound America service between the US East Coast and Asia. MSC’s Albatross service will now feature two calls in the UK, with London Gateway added after Felixstowe, which will remain the first call in Europe from Asia. MSC said its standalone east-west network together with its existing Asia export services will “provide unmatched continental trade connectivity with Asia through a vast array of loops, competitive transit times and a high frequency of direct port calls.” Contact Keith Wallis at keithwallis@hotmail.com .","BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eGemini Cooperation, the new Maersk/Hapag-Lloyd alliance, will open cargo bookings beginning Dec. 3, two months before the official Feb. 1 launch of the network, Hapag-Lloyd confirmed Wednesday. \u003c/p\u003e\u003cp\u003eFebruary voyages will be available when the booking portal opens, the carrier said in a customer advisory. \u003c/p\u003e\u003cp\u003e“As our 2025 network will be fully phased in only after the transition from our current THE Alliance network during 2025, not all Gemini Cooperation voyages might be reflected in our schedule yet,” Hapag-Lloyd said. \u003c/p\u003e\u003cp\u003eThe carrier’s online schedules only cover vessel arrivals at the destination port up to the end of January, just before Hapag-Lloyd’s membership in THE Alliance ends. \u003c/p\u003e\u003cp\u003eGemini will provide 56 mainline and shuttle services covering seven east-west trades on a hub-and-spoke network and utilizing about 340 vessels with a total capacity of 3.7 million TEUs. \u003c/p\u003e\u003cp\u003eThe Gemini carriers have continued to tweak the network after releasing the final schedule on Oct. 9, which reflected their decision to choose the Cape of Good Hope option for vessel routings to avoid the threat of militant attacks in the Red Sea. The latest change, announced on Nov. 18, was to shift calls from the UK’s Felixstowe port to London Gateway on three Asia-Europe services. \u003c/p\u003e\u003ch3\u003eMSC updates east-west network \u003c/h3\u003e\u003cp\u003eThe news from Gemini came as Mediterranean Shipping Co. released on Wednesday the latest update to its standalone east-west network that will launch in February. The changes feature extra port calls to “optimize our Asia to Europe, US and Canada connectivity,” the carrier said in a customer advisory. \u003c/p\u003e\u003cp\u003eThe biggest difference is MSC’s Mustang service connecting Asia to the Northwest US and Canada will be added to its standalone east-west network. The new rotation will be Xiamen–Yantian–Ningbo–Shanghai–Busan–Seattle–Vancouver–Portland–Busan. \u003c/p\u003e\u003cp\u003eOther changes include the addition of calls at Vung Tau and Haiphong in Vietnam on MSC’s Pearl and Chinook services; Nansha on its Asia-Europe Lion and Dragon services; Yantian (westbound) and Yokohama in place of Busan on its Swan-Sentosa service; and Busan (westbound) on its Asia-US Orient and Lonestar services. \u003c/p\u003e\u003cp\u003eMSC has also added a call at Vizhinjam in India on its Asia-Europe Jade service, with Colombo also added to both its Britannia service connecting Asia and North Europe and its eastbound America service between the US East Coast and Asia. \u003c/p\u003e\u003cp\u003eMSC’s Albatross service will now feature two calls in the UK, with London Gateway added after Felixstowe, which will remain the first call in Europe from Asia. \u003c/p\u003e\u003cp\u003eMSC said its standalone east-west network together with its existing Asia export services will “provide unmatched continental trade connectivity with Asia through a vast array of loops, competitive transit times and a high frequency of direct port calls.” \u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Keith Wallis at \u003c/i\u003e\u003ca href=\"mailto:keithwallis@hotmail.com\"\u003e\u003ci\u003ekeithwallis@hotmail.com\u003c/i\u003e\u003c/a\u003e\u003ci\u003e.\u003c/i\u003e \u003c/p\u003e\u003c/div\u003e","Metadata":{"BylineOverwrite":null,"AuthorCompanyOrEventLink":null,"PaywallLocked":true,"FeatureImageCopyright":"February voyages will be available when the Gemini Cooperation booking portal opens on Dec. 3. Photo credit: Oliver Hoffman / Shutterstock.com.","EventDate":null,"__typename":"Metadata"},"ModDate":"1732741154850","Taxonomy":{"MainCategory":[{"Id":"34","Name":"Container lines","Redirects":[{"Path":"/maritime/container-shipping-news/container-lines","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"AdditionalCategories":[{"Id":"35","Name":"Trans-Atlantic","Redirects":[{"Path":"/maritime/container-shipping-news/trans-atlantic","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"37","Name":"Asia-Europe","Redirects":[{"Path":"/maritime/container-shipping-news/asia-europe","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"38","Name":"Trans-Pacific","Redirects":[{"Path":"/maritime/container-shipping-news/trans-pacific","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"ContentType":"ARTICLE","__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"Keith Wallis, Special Correspondent","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1732735454000","TitlePlainText":"Hapag-Lloyd says Gemini alliance cargo bookings to open Dec. 3","Published":true,"Redirects":[{"Path":"/article/hapag-lloyd-says-gemini-alliance-cargo-bookings-to-open-dec-3-5846853","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eThe news from Gemini came as MSC released the latest update to its standalone east-west network that will also launch in February. \u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"The news from Gemini came as MSC released the latest update to its standalone east-west network that will also launch in February.","__typename":"Document"},{"Id":"5833725_JournalOfCommerce","Attachments":[{"FileName":"5833731_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyPlainText":"Taiwan’s Evergreen Marine Asia and PSA Singapore on Tuesday signed a deal to form a joint venture terminal operation that will become Evergreen’s Southeast Asia transshipment center. Evergreen said the Singapore hub will strengthen its operational efficiency and bolster the competitiveness of its fleet. Evergreen will invest up to $57 million for a 49% stake in the venture, called Evergreen-PSA Terminal Ltd, the carrier said in a filing to the Taiwan stock exchange. Terminal operations are expected to start by the end of this year. Evergreen said the move will allow the carrier’s ships in Singapore to “obtain priority berthing rights [and] have exclusive loading and unloading resources to reduce waiting time for berthing operations.” The terminal is the first joint venture facility between Evergreen and PSA. ”As the company’s business expands, we are always looking for like-minded partners to build high-efficiency terminals in important locations,” Evergreen Marine Chairman Chang Yan Yi said in the statement. The deal adds to PSA Singapore’s growing stable of similar joint venture terminals with other carriers, notably Cosco Shipping, CMA CGM, HMM, Mediterranean Shipping Co. and Ocean Network Express. Evergreen directors decided in August to set up a joint venture company with PSA just weeks after Singapore experienced unprecedented congestion in May and June, with vessel delays of up to eight to 10 days. At the time, Singapore’s Maritime and Port Authority (MPA) said the problems were the culmination of months of disruption as carriers curtailed or blanked services and discharged cargo in Singapore as vessels diverted around southern Africa to avoid the Red Sea. The situation was exacerbated due to strong east-west cargo volumes as shippers consigned cargo early to offset delays. Contact Keith Wallis at keithwallis@hotmail.com .","BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eTaiwan’s Evergreen Marine Asia and PSA Singapore on Tuesday signed a deal to form a joint venture terminal operation that will become Evergreen’s Southeast Asia transshipment center. Evergreen said the Singapore hub will strengthen its operational efficiency and bolster the competitiveness of its fleet. \u003c/p\u003e\u003cp\u003eEvergreen will invest up to $57 million for a 49% stake in the venture, called Evergreen-PSA Terminal Ltd, the carrier said in a filing to the Taiwan stock exchange.\u003c/p\u003e\u003cp\u003eTerminal operations are expected to start by the end of this year.\u003c/p\u003e\u003cp\u003eEvergreen said the move will allow the carrier’s ships in Singapore to “obtain priority berthing rights [and] have exclusive loading and unloading resources to reduce waiting time for berthing operations.”\u003c/p\u003e\u003cp\u003eThe terminal is the first joint venture facility between Evergreen and PSA.\u003c/p\u003e\u003cp\u003e”As the company’s business expands, we are always looking for like-minded partners to build high-efficiency terminals in important locations,” Evergreen Marine Chairman Chang Yan Yi said in the statement.\u003c/p\u003e\u003cp\u003eThe deal adds to PSA Singapore’s growing stable of similar joint venture terminals with other carriers, notably Cosco Shipping, CMA CGM, HMM, Mediterranean Shipping Co. and Ocean Network Express.\u003c/p\u003e\u003cp\u003eEvergreen directors decided in August to set up a joint venture company with PSA just weeks after Singapore experienced unprecedented congestion in May and June, with vessel delays of up to eight to 10 days.\u003c/p\u003e\u003cp\u003eAt the time, Singapore’s Maritime and Port Authority (MPA) said the problems were the culmination of months of disruption as carriers curtailed or blanked services and discharged cargo in Singapore as vessels diverted around southern Africa to avoid the Red Sea. The situation was exacerbated due to strong east-west cargo volumes as shippers consigned cargo early to offset delays.\u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Keith Wallis at \u003c/i\u003e\u003ca href=\"mailto:keithwallis@hotmail.com\"\u003e\u003ci\u003ekeithwallis@hotmail.com\u003c/i\u003e\u003c/a\u003e.\u003c/p\u003e\u003c/div\u003e","Metadata":{"BylineOverwrite":null,"AuthorCompanyOrEventLink":null,"PaywallLocked":true,"FeatureImageCopyright":"Evergreen will invest up to $57 million for a 49% stake in the terminal venture with PSA Singapore. Photo credit: Felipe Sanchez / Shutterstock.com.","EventDate":null,"__typename":"Metadata"},"ModDate":"1732661411060","Taxonomy":{"MainCategory":[{"Id":"34","Name":"Container lines","Redirects":[{"Path":"/maritime/container-shipping-news/container-lines","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"AdditionalCategories":[{"Id":"43","Name":"Marine terminals","Redirects":[{"Path":"/maritime/port-news/marine-terminals","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"44","Name":"International ports","Redirects":[{"Path":"/maritime/port-news/international-ports","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"ContentType":"ARTICLE","__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"Keith Wallis, Special Correspondent","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1732657288000","TitlePlainText":"Evergreen sets up transshipment hub in Singapore with PSA terminal deal","Published":true,"Redirects":[{"Path":"/article/evergreen-sets-up-transshipment-hub-in-singapore-with-psa-terminal-deal-5833725","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eThe agreement was set in motion by Evergreen just weeks after Singapore experienced unprecedented congestion in May and June, with vessel delays of up to 10 days.\u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"The agreement was set in motion by Evergreen just weeks after Singapore experienced unprecedented congestion in May and June, with vessel delays of up to 10 days.","__typename":"Document"},{"Id":"5833589_JournalOfCommerce","Attachments":[{"FileName":"5833574_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyPlainText":"From its origins over a decade ago, NYSHEX, founded and led by Gordon Downes, has always aimed to advance a simple yet stubbornly elusive concept in container shipping: integrity of contracts. Incomprehensible to outsiders, signed contracts — many pages long and vetted by lawyers — are unenforceable when confronted by the real-world forces of supply and demand and volatile pricing. “The big problem that prompted us to start NYSHEX is contracts in our industry don’t perform,” Downes told the Journal of Commerce. In many cases, the shipper or carrier fails to live up to the contract terms, whether that be a carrier unwilling to provide vessel space or a shipper steering cargo to other carriers or non-vessel-operating common carriers (NVOs) to obtain a lower rate, thus failing to deliver the agreed-upon volumes. Triggers for failed contracts occur when spot rates deviate significantly from contract rates and carriers blank sailings or omit ports on short notice due to changes in demand, creating shortfalls in available capacity. Downes said ocean container contracts have just a 65% fulfillment rate. Although such practices undermine trust and stress relationships to the breaking point, no scenario results in serious consequences for the offending party. Litigation or government enforcement remain rare outside of a tiny handful of highly publicized cases. Originally, NYSHEX, founded by Downes in 2015 “to solve the problem of poor contract fulfillment,” aimed to create an exchange whereby mutually committed — meaning enforceable — contracts could be executed by shippers, NVOs and carriers under full approval of the US Federal Maritime Commission (FMC) and the auspices of the NYSHEX brand. To the limited extent the market availed itself of such contracts, they worked: in the vast majority of cases, both parties lived up to what they committed to. Still, the penalties meant to ensure compliance “can put a lot of strain on relationships, especially when the spot rates are so volatile,” Downes said. But while the concept found some uptake, demand was cyclical and could not overcome at scale the market forces that, in peculiar container shipping mentality, frequently lead each side to seek near-term pricing gain, if it is to be had, at the expense of longer-term certainty of space or volumes. Whether it’s an obsessively procurement-based mindset on the part of shippers in seeking to drive prices lower whenever possible, or carriers seeing better opportunities on the spot market, sacrifices in pursuit of certainty have yet to take hold on an industrywide level. If there was ever a moment for that mentality to be challenged, it was the pandemic, which showed shippers how quickly and painfully vessel space can dry up in a crisis. And yet the problem remains. New technology and products But NYSHEX persevered with its original vision, even if that meant applying it in new ways. The company developed technology that enables parties to monitor contract performance, drawing them into a real-time collaborative environment where issues can be identified and resolved on the spot, versus after the fact during increasingly infrequent quarterly performance reviews. In other words, if contracts can be mutually monitored in real time, the odds are better the parties will comply. Now NYSHEX is delving yet further into solving the fundamental problem: promoting the use of index-linked contracts as a way to build contract integrity and certainty into ocean container supply chains. In announcing a Series C funding round last week, NYSHEX made a strong statement that there is traction in the idea, however long it may have been around. The funding round attracted participation from existing investors, including Goldman Sachs, and new ones, including the Intercontinental Exchange (NYSE:ICE), a leading exchange operator which will calculate the new indices based on actual rates paid by shippers. Other container freight rate indices tend to be based on traditional price discovery performed by analysts. It said it will launch a new series of indices and tools to administer index-linked contracts. The question, then, is whether index-linked contracts are able to move the industry forward in addressing the continuing core problem of a lack of contract integrity. Linking pricing to an index means shippers’ rates face less risk of falling out of the range of prevailing rates and cargo being left behind at origin. But there is less budget certainty which clashes with annual budgeting cycles at beneficial cargo owners (BCOs). And while there are futures contracts traded, such as an active market of day traders on the Shanghai International Energy Exchange (INE China), which launched trading in a Containerized Freight Index Futures Contract in 2023, they haven’t built the liquidity or credibility to be of interest to BCO finance teams who would engage in hedging against adverse movements in ocean rates. And carriers have been outspoken about their declining interest in container freight futures. Index-linked contracts have a history of going in and out of fashion; they fell into fashion during the pandemic when shippers were desperate for space but fell out once the extremes of the disruptions were over. Also holding back index-linked contracts are shipper and carrier lawyers needing to come to agree on terms and conditions, frequently a difficult hurdle to overcome. Now, amid a continuing tight market fueled by Red Sea reroutings and robust 2024 volumes, there is more talk of using index-linked contracts. But just as it was before, that could just be cyclical. Contact Peter Tirschwell at peter.tirschwell@spglobal.com .","BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eFrom its origins over a decade ago, NYSHEX, founded and led by Gordon Downes, has always aimed to advance a simple yet stubbornly elusive concept in container shipping: integrity of contracts. \u003c/p\u003e\u003cp\u003eIncomprehensible to outsiders, signed contracts — many pages long and vetted by lawyers — are unenforceable when confronted by the real-world forces of supply and demand and volatile pricing. \u003c/p\u003e\u003cp\u003e“The big problem that prompted us to start NYSHEX is contracts in our industry don’t perform,” Downes told the \u003ci\u003eJournal of Commerce\u003c/i\u003e. \u003c/p\u003e\u003cp\u003eIn many cases, the shipper or carrier fails to live up to the contract terms, whether that be a carrier unwilling to provide vessel space or a shipper steering cargo to other carriers or non-vessel-operating common carriers (NVOs) to obtain a lower rate, thus failing to deliver the agreed-upon volumes. \u003c/p\u003e\u003cp\u003eTriggers for failed contracts occur when spot rates deviate significantly from contract rates and carriers blank sailings or omit ports on short notice due to changes in demand, creating shortfalls in available capacity. Downes said ocean container contracts have just a 65% fulfillment rate. \u003c/p\u003e\u003cp\u003eAlthough such practices undermine trust and stress relationships to the breaking point, no scenario results in serious consequences for the offending party. Litigation or government enforcement remain rare outside of a tiny handful of highly publicized cases. \u003c/p\u003e\u003cp\u003eOriginally, NYSHEX, founded by Downes in 2015 “to solve the problem of poor contract fulfillment,” aimed to create an exchange whereby mutually committed — meaning enforceable — contracts could be executed by shippers, NVOs and carriers under full approval of the US Federal Maritime Commission (FMC) and the auspices of the NYSHEX brand. To the limited extent the market availed itself of such contracts, they worked: in the vast majority of cases, both parties lived up to what they committed to. Still, the penalties meant to ensure compliance “can put a lot of strain on relationships, especially when the spot rates are so volatile,” Downes said. \u003c/p\u003e\u003cp\u003eBut while the concept found some uptake, demand was cyclical and could not overcome at scale the market forces that, in peculiar container shipping mentality, frequently lead each side to seek near-term pricing gain, if it is to be had, at the expense of longer-term certainty of space or volumes. \u003c/p\u003e\u003cp\u003eWhether it’s an obsessively procurement-based mindset on the part of shippers in seeking to drive prices lower whenever possible, or carriers seeing better opportunities on the spot market, sacrifices in pursuit of certainty have yet to take hold on an industrywide level. \u003c/p\u003e\u003cp\u003eIf there was ever a moment for that mentality to be challenged, it was the pandemic, which showed shippers how quickly and painfully vessel space can dry up in a crisis. And yet the problem remains. \u003c/p\u003e\u003ch3\u003eNew technology and products\u003c/h3\u003e\u003cp\u003eBut NYSHEX persevered with its original vision, even if that meant applying it in new ways. The company developed technology that enables parties to monitor contract performance, drawing them into a real-time collaborative environment where issues can be identified and resolved on the spot, versus after the fact during increasingly infrequent quarterly performance reviews. In other words, if contracts can be mutually monitored in real time, the odds are better the parties will comply. \u003c/p\u003e\u003cp\u003eNow NYSHEX is delving yet further into solving the fundamental problem: promoting the use of index-linked contracts as a way to build contract integrity and certainty into ocean container supply chains. \u003c/p\u003e\u003cp\u003eIn announcing a Series C funding round last week, NYSHEX made a strong statement that there is traction in the idea, however long it may have been around. The funding round attracted participation from existing investors, including Goldman Sachs, and new ones, including the Intercontinental Exchange (NYSE:ICE), a leading exchange operator which will calculate the new indices based on actual rates paid by shippers. Other container freight rate indices tend to be based on traditional price discovery performed by analysts. It said it will launch a new series of indices and tools to administer index-linked contracts. \u003c/p\u003e\u003cp\u003eThe question, then, is whether index-linked contracts are able to move the industry forward in addressing the continuing core problem of a lack of contract integrity. \u003c/p\u003e\u003cp\u003eLinking pricing to an index means shippers’ rates face less risk of falling out of the range of prevailing rates and cargo being left behind at origin. But there is less budget certainty which clashes with annual budgeting cycles at beneficial cargo owners (BCOs). And while there are futures contracts traded, such as an active market of day traders on the Shanghai International Energy Exchange (INE China), which launched trading in a Containerized Freight Index Futures Contract in 2023, they haven’t built the liquidity or credibility to be of interest to BCO finance teams who would engage in hedging against adverse movements in ocean rates. And carriers have been outspoken about their declining interest in container freight futures. \u003c/p\u003e\u003cp\u003eIndex-linked contracts have a history of going in and out of fashion; they fell into fashion during the pandemic when shippers were desperate for space but fell out once the extremes of the disruptions were over. Also holding back index-linked contracts are shipper and carrier lawyers needing to come to agree on terms and conditions, frequently a difficult hurdle to overcome. \u003c/p\u003e\u003cp\u003eNow, amid a continuing tight market fueled by Red Sea reroutings and robust 2024 volumes, there is more talk of using index-linked contracts. But just as it was before, that could just be cyclical. \u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Peter Tirschwell at \u003c/i\u003e\u003ca href=\"mailto:peter.tirschwell@spglobal.com\"\u003e\u003ci\u003epeter.tirschwell@spglobal.com\u003c/i\u003e\u003c/a\u003e.\u003c/p\u003e\u003c/div\u003e","Metadata":{"BylineOverwrite":null,"AuthorCompanyOrEventLink":null,"PaywallLocked":true,"FeatureImageCopyright":"The COVID-19 pandemic showed shippers just how quickly and painfully vessel space can dry up in a crisis. Photo credit: GreenOak / Shutterstock.com.","EventDate":null,"__typename":"Metadata"},"ModDate":"1732654040583","Taxonomy":{"MainCategory":[{"Id":"34","Name":"Container lines","Redirects":[{"Path":"/maritime/container-shipping-news/container-lines","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"AdditionalCategories":[{"Id":"17","Name":"Logistics Technology News","Redirects":[{"Path":"/supply-chain/logistics-technology-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"ContentType":"ARTICLE","__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"Peter Tirschwell","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1732649662000","TitlePlainText":"NYSHEX keeps core vision while evolving in volatile container shipping market","Published":true,"Redirects":[{"Path":"/article/nyshex-keeps-core-vision-while-evolving-in-volatile-container-shipping-market-5833589","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eNYSHEX is making a renewed effort to solve the fundamental problem of ocean container supply chains, promoting the use of index-linked contracts to build contract integrity and certainty. \u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"NYSHEX is making a renewed effort to solve the fundamental problem of ocean container supply chains, promoting the use of index-linked contracts to build contract integrity and certainty.","__typename":"Document"}],"itemsCount":434136,"nextToken":1,"__typename":"DocumentPaginatedList"}},"mainStory":{"Id":"5866225_JournalOfCommerce","Attachments":[{"FileName":"5866224_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyPlainText":"VIENNA — Geopolitics shaped the middle corridor rail network between China and Europe, but the route has evolved in the past two years from an alternative to the heavily sanctioned northern route through Russia into a critical lifeline for the booming economies of Central Asia. Huge investments are being made across the region as the logistics infrastructure struggles to catch up with demand, attendees at the European Silk Road Summit were told this week. “We see a future for the middle corridor, and we are putting our money where our mouths are and investing billions in projects in Central Asia,” said Luis Blancas, senior transport and logistics specialist at the World Bank. “The middle corridor is an entirely discretionary connection for China, but for Central Asia it is a lifeline connection to the world. It's a lifeline for Turkey, Azerbaijan, Georgia. They want to trade more with Central Asia and the middle corridor is very important for that.” That the middle corridor was a viable trade route, as well as an improving option for China-Europe shippers, was a theme expressed time and again by speakers at the summit. Emil Mammadov, advisor to the chairman of Azerbaijan Railways, said the future of the middle corridor was “fully related” to the economies of Central Asia where demand was developing fast and rail capacity had to match that growth. “The middle corridor is not just an alternative, it is a working corridor,” he told the summit. “This year to date, we have had more than 260 block trains from China going through Azerbaijan and by the end of December that will have increased to 300 trains, more than 10 times higher than in 2023. “We are in discussions with China and with our counterparts in Central Asia to reach a minimum of 1,000 block trains next year,” he added. China attention moves to middle corridor Also under way is the development of the southern part of the middle corridor that will improve rail connections through Turkmenistan, Uzbekistan, Kyrgyzstan and Tajikistan, with significant investment being made by China in construction of the routes. “China's participation in the middle corridor is making a huge difference,” Blancas told the summit. “China was primarily focused on the northern corridor for a long time, but over the last couple of years, with what's going on in Ukraine, the China ‘Belt and Road Initiative’ is really targeting the middle corridor.” But the increase in rail volume flowing across Central Asian countries is placing growing pressure on key transit points. For instance, the Georgian port of Poti on the Black Sea where rail freight is transferred to ships is 99% utilized, according to Blancas. “We are one of the bottlenecks,” acknowledged Mario Escobar, business development manager for APM Terminals Poti. “It's important that we accept that and work towards fixing it. Today, we have a port that can handle 600,000 TEUs per year, and in 2023 we handled 592,000 TEUs. It is a small port for the cargo that needs to transit this region, and the rail infrastructure is not sufficient to move all that cargo.” APM Terminals is planning to expand the capacity of its Poti terminals to 1.2 million TEUs, but Escobar said the improvement in infrastructure must be accompanied by investment from rail companies into locomotives, wagons and platforms to handle the rising volume. Reopening Red Sea will see cargo shift to ocean Martin Koubek, head of the Silk Road for intermodal operator Metrans, said the middle corridor would not be the choice for cargo from China to Europe once most container traffic returned to routing through the Red Sea. “It takes 21 days via the Suez from Shenzhen to Piraeus, so when the Red Sea is again used, why would you send rail cargo on the middle corridor that is longer and more expensive?” he told the Journal of Commerce on the sidelines of the summit. While the shift of cargo from rail to ocean would have a significant impact on the rail business, it would be barely noticed by container shipping with less than 1% of containerized trade between Asia and Europe transported by rail. But Koubek agreed that the middle corridor would be crucial for the Central Asian economies. “They are all growing, and the route will serve their increasing trade with China,” he said. Following the Russian invasion of Ukraine in February 2022, containerized trade on the northern route from China to North Europe largely dried up . Most of the cargo was moved to ocean but forwarders and rail freight operators began testing the middle corridor that runs from China, through Central Asia, the Caspian Sea, Black Sea and on into Turkey or eastern Europe. There remain significant hurdles to overcome, such as cross border customs issues, multiple cargo handovers from rail to ferry to road and back to rail, high rates and unreliable transit times. Those issues are being addressed by service providers, and the average transit time from Xian to Duisburg in southern Germany is now around 30 days. When the northern route is again fully utilized, most of the China to Europe containerized rail cargo using the middle corridor or ocean will quickly return to the Russian transit route, said Alana Topak, managing director for DB Cargo Eurasia. “That means it is really important all the countries in Central Asia work together to address the issues still facing the middle route and increase volume travelling both ways, otherwise the rates will be high, and it won’t make sense,” she said. Contact Greg Knowler at greg.knowler@spglobal.com .","BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eVIENNA — Geopolitics shaped the middle corridor rail network between China and Europe, but the route has evolved in the past two years from an alternative to the heavily sanctioned northern route through Russia into a critical lifeline for the booming economies of Central Asia. \u003c/p\u003e\u003cp\u003eHuge investments are being made across the region as the logistics infrastructure struggles to catch up with demand, attendees at the European Silk Road Summit were told this week. \u003c/p\u003e\u003cp\u003e“We see a future for the middle corridor, and we are putting our money where our mouths are and investing billions in projects in Central Asia,” said Luis Blancas, senior transport and logistics specialist at the World Bank. \u003c/p\u003e\u003cp\u003e“The middle corridor is an entirely discretionary connection for China, but for Central Asia it is a lifeline connection to the world. It's a lifeline for Turkey, Azerbaijan, Georgia. They want to trade more with Central Asia and the middle corridor is very important for that.” \u003c/p\u003e\u003cp\u003eThat the middle corridor was a viable trade route, as well as an improving option for China-Europe shippers, was a theme expressed time and again by speakers at the summit. \u003c/p\u003e\u003cp\u003eEmil Mammadov, advisor to the chairman of Azerbaijan Railways, said the future of the middle corridor was “fully related” to the economies of Central Asia where demand was developing fast and rail capacity had to match that growth. \u003c/p\u003e\u003cp\u003e“The middle corridor is not just an alternative, it is a working corridor,” he told the summit. “This year to date, we have had more than 260 block trains from China going through Azerbaijan and by the end of December that will have increased to 300 trains, more than 10 times higher than in 2023. \u003c/p\u003e\u003cp\u003e“We are in discussions with China and with our counterparts in Central Asia to reach a minimum of 1,000 block trains next year,” he added. \u003c/p\u003e\u003ch3\u003eChina attention moves to middle corridor \u003c/h3\u003e\u003cp\u003eAlso under way is the development of the southern part of the middle corridor that will improve rail connections through Turkmenistan, Uzbekistan, Kyrgyzstan and Tajikistan, with significant investment being made by China in construction of the routes. \u003c/p\u003e\u003cp\u003e“China's participation in the middle corridor is making a huge difference,” Blancas told the summit. “China was primarily focused on the northern corridor for a long time, but over the last couple of years, with what's going on in Ukraine, the China ‘Belt and Road Initiative’ is really targeting the middle corridor.” \u003c/p\u003e\u003cp\u003eBut the increase in rail volume flowing across Central Asian countries is placing growing pressure on key transit points. For instance, the Georgian port of Poti on the Black Sea where rail freight is transferred to ships is 99% utilized, according to Blancas. \u003c/p\u003e\u003cp\u003e“We are one of the bottlenecks,” acknowledged Mario Escobar, business development manager for APM Terminals Poti. “It's important that we accept that and work towards fixing it. Today, we have a port that can handle 600,000 TEUs per year, and in 2023 we handled 592,000 TEUs. It is a small port for the cargo that needs to transit this region, and the rail infrastructure is not sufficient to move all that cargo.” \u003c/p\u003e\u003cp\u003eAPM Terminals is planning to expand the capacity of its Poti terminals to 1.2 million TEUs, but Escobar said the improvement in infrastructure must be accompanied by investment from rail companies into locomotives, wagons and platforms to handle the rising volume. \u003c/p\u003e\u003ch3\u003eReopening Red Sea will see cargo shift to ocean \u003c/h3\u003e\u003cp\u003eMartin Koubek, head of the Silk Road for intermodal operator Metrans, said the middle corridor would not be the choice for cargo from China to Europe once most container traffic returned to routing through the Red Sea. \u003c/p\u003e\u003cp\u003e“It takes 21 days via the Suez from Shenzhen to Piraeus, so when the Red Sea is again used, why would you send rail cargo on the middle corridor that is longer and more expensive?” he told the \u003ci\u003eJournal of Commerce\u003c/i\u003e on the sidelines of the summit. \u003c/p\u003e\u003cp\u003eWhile the shift of cargo from rail to ocean would have a significant impact on the rail business, it would be barely noticed by container shipping with less than 1% of containerized trade between Asia and Europe transported by rail. \u003c/p\u003e\u003cp\u003eBut Koubek agreed that the middle corridor would be crucial for the Central Asian economies. “They are all growing, and the route will serve their increasing trade with China,” he said. \u003c/p\u003e\u003cp\u003eFollowing the Russian invasion of Ukraine in February 2022, \u003ca href=\"https://www.joc.com/article/rapid-rail-transit-via-sanctions-hit-russia-has-limited-appeal-for-european-shippers-5220672\"\u003econtainerized trade on the northern route from China to North Europe largely dried up\u003c/a\u003e. Most of the cargo was moved to ocean but forwarders and rail freight operators began testing the middle corridor that runs from China, through Central Asia, the Caspian Sea, Black Sea and on into Turkey or eastern Europe. \u003c/p\u003e\u003cp\u003eThere remain significant hurdles to overcome, such as cross border customs issues, multiple cargo handovers from rail to ferry to road and back to rail, high rates and unreliable transit times. Those issues are being addressed by service providers, and the average transit time from Xian to Duisburg in southern Germany is now around 30 days. \u003c/p\u003e\u003cp\u003eWhen the northern route is again fully utilized, most of the China to Europe containerized rail cargo using the middle corridor or ocean will quickly return to the Russian transit route, said Alana Topak, managing director for DB Cargo Eurasia. \u003c/p\u003e\u003cp\u003e“That means it is really important all the countries in Central Asia work together to address the issues still facing the middle route and increase volume travelling both ways, otherwise the rates will be high, and it won’t make sense,” she said. \u003c/p\u003e\u003cp\u003e \u003ci\u003eContact Greg Knowler at \u003c/i\u003e\u003ca href=\"mailto:greg.knowler@spglobal.com\"\u003e\u003ci\u003egreg.knowler@spglobal.com\u003c/i\u003e\u003c/a\u003e\u003ci\u003e.\u003c/i\u003e \u003c/p\u003e\u003c/div\u003e","Metadata":{"BylineOverwrite":null,"AuthorCompanyOrEventLink":null,"PaywallLocked":true,"FeatureImageCopyright":"The Georgian port of Poti on the Black Sea is a key transit point on the middle corridor where rail freight is shifted to ferries. Photo credit: APMT.","EventDate":null,"__typename":"Metadata"},"ModDate":"1732965735180","Taxonomy":{"MainCategory":[{"Id":"2","Name":"Surface","Redirects":[{"Path":"/surface","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"AdditionalCategories":[{"Id":"36","Name":"Forwarding","Redirects":[{"Path":"/maritime/container-shipping-news/forwarding","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"52","Name":"International rail","Redirects":[{"Path":"/surface/rail-news/international-rail","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"53","Name":"Intermodal providers","Redirects":[{"Path":"/surface/rail-news/intermodal-providers","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"ContentType":"ARTICLE","__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"Greg Knowler, Senior Editor Europe","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1732965734000","TitlePlainText":"Booming Central Asian economies lend lifeline to China-Europe rail","Published":true,"Redirects":[{"Path":"/article/booming-central-asian-economies-lend-lifeline-to-china-europe-rail-5866225","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eRising regional trade along the old Silk Road between China and Europe is driving up containerized rail volume on the middle corridor and the logistics infrastructure is struggling to keep up. \u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"Rising regional trade along the old Silk Road between China and Europe is driving up containerized rail volume on the middle corridor and the logistics infrastructure is struggling to keep up.","__typename":"Document"},"latestNews":[{"Id":"5866031_JournalOfCommerce","Attachments":[{"FileName":"5866030_0.1.PNG","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyPlainText":"Chinese energy producer Goldwind will be supplying both members of the Gemini Cooperation with green methanol from 2026. Hapag-Lloyd will receive 250,000 tons per year in a deal signed this week while its partner Maersk will get 500,000 tons a year according to an agreement made last year. The green methanol will consist of a blend of bio- and e-methanol and enable a greenhouse gas (GHG) emissions reduction of at least 70%, Hapag-Lloyd said in a statement Thursday. “With the agreement, we are securing a significant proportion of our requirements for green fuels,” said Hapag-Lloyd CEO Rolf Habben Jansen. “This will bring us an important step closer to our goal of achieving net-zero fleet operations by 2045.” Hapag-Lloyd and Seaspan are converting five 10,100-TEU charter ships to a methanol dual-fuel propulsion system that will be ready in 2026. The carrier also made a recent order for 24 dual-fuel vessels capable of sailing on liquefied natural gas (LNG). By 2030, Hapag-Lloyd aims to reduce the absolute GHG emissions of the fleet by about one-third compared with 2022. Compared with conventional fuels, the ordered quantity of green methanol can save a total of up to 400,000 metric tons of CO2e emissions in fleet operations per year. Hapag-Lloyd’s decarbonization credentials were burnished by its recent winning of a tender from the Zero Emission Maritime Buyers Alliance (ZEMBA) aimed at fast-tracking commercial deployment of green shipping services at scale to create a competitive market for those services. About 70% of the total 1.7 million TEUs of ship orders made so far this year were for ships capable of sailing on methanol, LNG or hydrogen, according to Sea-web, a sister company of the Journal of Commerce within S\u0026P Global. The need to keep fuel options open and avoid being locked into one pathway was illustrated in a recent Maersk order for dual-fuel vessels totaling 800,000 TEUs capable of sailing on methanol as well as LNG. Contact Greg Knowler at greg.knowler@spglobal.com .","BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eChinese energy producer Goldwind will be supplying both members of the \u003ca href=\"https://www.joc.com/article/hapag-lloyd-says-gemini-alliance-cargo-bookings-to-open-dec-3-5846853\"\u003eGemini Cooperation\u003c/a\u003e with green methanol from 2026. Hapag-Lloyd will receive 250,000 tons per year in a deal signed this week while its partner \u003ca href=\"https://www.joc.com/article/maersk-inks-new-methanol-sourcing-deal-with-chinese-supplier-5234419\"\u003eMaersk will get 500,000 tons a year\u003c/a\u003e according to an agreement made last year. \u003c/p\u003e\u003cp\u003eThe green methanol will consist of a blend of bio- and e-methanol and enable a greenhouse gas (GHG) emissions reduction of at least 70%, Hapag-Lloyd said in a statement Thursday. \u003c/p\u003e\u003cp\u003e“With the agreement, we are securing a significant proportion of our requirements for green fuels,” said Hapag-Lloyd CEO Rolf Habben Jansen. “This will bring us an important step closer to our goal of achieving net-zero fleet operations by 2045.” \u003c/p\u003e\u003cp\u003eHapag-Lloyd and Seaspan are converting five 10,100-TEU charter ships to a methanol dual-fuel propulsion system that will be ready in 2026. The carrier also made a recent order for 24 dual-fuel vessels capable of sailing on liquefied natural gas (LNG). \u003c/p\u003e\u003cp\u003eBy 2030, Hapag-Lloyd aims to reduce the absolute GHG emissions of the fleet by about one-third compared with 2022. Compared with conventional fuels, the ordered quantity of green methanol can save a total of up to 400,000 metric tons of CO2e emissions in fleet operations per year. \u003c/p\u003e\u003cdiv class=\"wrapper-narrow\"\u003e\u003cdynamic-object type=\"jocchartid\" resource-id=\"1a054077-7728-4ffd-abb8-b7aff17c3235\"\u003e\u003c/dynamic-object\u003e\u003c/div\u003e\u003cp\u003eHapag-Lloyd’s decarbonization credentials were burnished by its recent \u003ca href=\"https://www.joc.com/article/hapag-lloyd-wins-asia-europe-green-shipping-tender-to-launch-next-year-5240949\"\u003ewinning of a tender from the Zero Emission Maritime Buyers Alliance\u003c/a\u003e (ZEMBA) aimed at fast-tracking commercial deployment of green shipping services at scale to create a competitive market for those services. \u003c/p\u003e\u003cp\u003eAbout 70% of the total 1.7 million TEUs of ship orders made so far this year were for ships capable of sailing on methanol, LNG or hydrogen, according to Sea-web, a sister company of the \u003ci\u003eJournal of Commerce\u003c/i\u003e within S\u0026amp;P Global. \u003c/p\u003e\u003cp\u003eThe need to keep fuel options open and avoid being locked into one pathway was illustrated \u003ca href=\"https://www.joc.com/article/maersks-lng-order-hedges-bet-on-green-fuel-technology-ceo-5703200\"\u003ein a recent Maersk order for dual-fuel vessels totaling 800,000 TEUs\u003c/a\u003e capable of sailing on methanol as well as LNG. \u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Greg Knowler at \u003c/i\u003e\u003ca href=\"mailto:greg.knowler@spglobal.com\"\u003e\u003ci\u003egreg.knowler@spglobal.com\u003c/i\u003e\u003c/a\u003e\u003ci\u003e.\u003c/i\u003e \u003c/p\u003e\u003c/div\u003e","Metadata":{"BylineOverwrite":null,"AuthorCompanyOrEventLink":null,"PaywallLocked":true,"FeatureImageCopyright":"Hapag-Lloyd and Seaspan are converting five 10,100-TEU charter ships to a methanol dual-fuel propulsion system that will be ready in 2026. Photo credit: Hapag-Lloyd.","EventDate":null,"__typename":"Metadata"},"ModDate":"1732924334463","Taxonomy":{"MainCategory":[{"Id":"1","Name":"Maritime","Redirects":[{"Path":"/maritime","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"AdditionalCategories":[{"Id":"9","Name":"Container Shipping News","Redirects":[{"Path":"/maritime/container-shipping-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"34","Name":"Container lines","Redirects":[{"Path":"/maritime/container-shipping-news/container-lines","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"ContentType":"ARTICLE","__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"Greg Knowler, Senior Editor Europe","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1732896614000","TitlePlainText":"Hapag-Lloyd joins Maersk in Chinese methanol supply deal","Published":true,"Redirects":[{"Path":"/article/hapag-lloyd-joins-maersk-in-chinese-methanol-supply-deal-5866031","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eHapag-Lloyd has contracted with a Chinese energy producer for green methanol to power five 10,100-TEU chartered ships with methanol dual-fuel propulsion systems.\u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"Hapag-Lloyd has contracted with a Chinese energy producer for green methanol to power five 10,100-TEU chartered ships with methanol dual-fuel propulsion systems.","__typename":"Document"},{"Id":"5846861_JournalOfCommerce","Attachments":[{"FileName":"5846860_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyPlainText":"The incoming Trump administration’s pick for US labor secretary has drawn mixed reactions from the logistics industry, with the International Longshoremen’s Association (ILA) and Teamsters viewing Rep. Lori Chavez-DeRemer as solidly behind unions while trucking groups see a foe of the owner-operator driver model used widely by motor carriers. Last week’s announcement from President-elect Donald Trump that he would nominate the Oregon congresswoman drew praise from the ILA, which said in a statement, “Rep. Chavez-DeRemer built a strong pro-worker record protecting their rights to organize.” “We look forward to working with Ms. Chavez-DeRemer and [the Trump] administration on legislation and policies that protect workers’ rights, safety and honors their commitment to building a strong economy...,” ILA President Harold Daggett said in the statement. The ILA, of course, may have to draw on the incoming administration’s support in the event it’s not able to successfully settle on a new contract with maritime employers by the Jan. 15 expiration of the contract extension that ended October’s three-day port strike along the US East and Gulf coasts. While the ILA did not outright endorse either candidate in the 2024 presidential election, Daggett, who met with Trump last year, said the incoming president “ is looking to take care of things for the unions .” The ILA also praised the Biden administration and acting Labor Secretary Julie Su for helping settle wage discussions with maritime employers back in October. Sean O’Brien, president of the 1.3-million-member International Brotherhood of Teamsters, congratulated Chavez-DeRemer shortly after her nomination, saying in a statement that Trump “pledged to listen to workers and find common ground to protect and respect labor in America.” First term in Congress Chavez-DeRemer, who is serving her first term in Congress, co-sponsored 12 House bills that touched on labor and employment policy. Among union-focused activities, she co-sponsored a bill that would enshrine the rights of state public sector employees to organize and bargain collectively and another bill to ensure similar rights for state public safety employees. She has also supported the Protecting the Right to Organize (PRO) Act, which has drawn some 218 co-sponsors in the House. The PRO Act expands federal protections for unions by preventing employers from requiring attendance at meetings designed to dissuade union organizing or making workers sign pledges against union organizing. It also prohibits retaliation against employees for union organizing. PRO also allows union members to participate in secondary strikes and prohibits claims against unions that conduct such strikes. More controversially, though, the PRO Act makes it more difficult for employers to classify a worker as an independent contractor rather than a full-time employee. The PRO Act will limit the independent contractor definition to those workers who are not under an employer’s direct control for how the service is performed, or when the service is not part of the employer’s regular course of work Those criteria mirror the so-called ABC test that is used in states including California and New Jersey to classify independent contractors and has been widely criticized for forcing motor carriers to drop owner-operator drivers in favor of employee drivers. The PRO Act also creates the new category of a “joint employer” that determines or controls how an employee of another firm performs their job. Critics have said that it could create a condition where a marine terminal can be classified as a joint employer of a port trucker due to the instructions and requirements for drivers entering their facility. The American Trucking Associations said in a statement following Chavez-DeRemer’s nomination that her “anti-trucking policies undermine our essential workforce, threaten the right of independent truckers to choose their own career path, and impede the efficiency of the supply chain.” Contact Michael Angell at michael.angell@spglobal.com .","BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eThe incoming Trump administration’s pick for US labor secretary has drawn mixed reactions from the logistics industry, with the International Longshoremen’s Association (ILA) and Teamsters viewing Rep. Lori Chavez-DeRemer as solidly behind unions while trucking groups see a foe of the owner-operator driver model used widely by motor carriers. \u003c/p\u003e\u003cp\u003eLast week’s announcement from President-elect Donald Trump that he would nominate the Oregon congresswoman drew praise from the ILA, which said in a statement, “Rep. Chavez-DeRemer built a strong pro-worker record protecting their rights to organize.” \u003c/p\u003e\u003cp\u003e“We look forward to working with Ms. Chavez-DeRemer and [the Trump] administration on legislation and policies that protect workers’ rights, safety and honors their commitment to building a strong economy...,” ILA President Harold Daggett said in the statement. \u003c/p\u003e\u003cp\u003eThe ILA, of course, may have to draw on the incoming administration’s support in the event it’s not able to successfully settle on a new contract with maritime employers by the Jan. 15 expiration of the contract extension that ended October’s three-day port strike along the US East and Gulf coasts. \u003c/p\u003e\u003cp\u003eWhile the ILA did not outright endorse either candidate in the 2024 presidential election, Daggett, who met with Trump last year, said the incoming president “\u003ca href=\"https://www.joc.com/article/ila-looking-for-local-ports-to-bring-in-more-union-foremen-5244993\"\u003eis looking to take care of things for the unions\u003c/a\u003e.” The ILA also praised \u003ca href=\"https://www.joc.com/article/behind-the-scenes-white-house-arm-twisting-got-ila-wage-deal-done-5747241\"\u003ethe Biden administration and acting Labor Secretary Julie Su\u003c/a\u003e for helping settle wage discussions with maritime employers back in October. \u003c/p\u003e\u003cp\u003eSean O’Brien, president of the 1.3-million-member International Brotherhood of Teamsters, congratulated Chavez-DeRemer shortly after her nomination, saying in a statement that Trump “pledged to listen to workers and find common ground to protect and respect labor in America.” \u003c/p\u003e\u003ch3\u003eFirst term in Congress \u003c/h3\u003e\u003cp\u003eChavez-DeRemer, who is serving her first term in Congress, co-sponsored 12 House bills that touched on labor and employment policy. Among union-focused activities, she co-sponsored a bill that would enshrine the rights of state public sector employees to organize and bargain collectively and another bill to ensure similar rights for state public safety employees. \u003c/p\u003e\u003cp\u003eShe has also supported the Protecting the Right to Organize (PRO) Act, which has drawn some 218 co-sponsors in the House. \u003c/p\u003e\u003cp\u003eThe PRO Act expands federal protections for unions by preventing employers from requiring attendance at meetings designed to dissuade union organizing or making workers sign pledges against union organizing. It also prohibits retaliation against employees for union organizing. PRO also allows union members to participate in secondary strikes and prohibits claims against unions that conduct such strikes. \u003c/p\u003e\u003cp\u003eMore controversially, though, the PRO Act makes it more difficult for employers to classify a worker as an independent contractor rather than a full-time employee. The PRO Act will limit the independent contractor definition to those workers who are not under an employer’s direct control for how the service is performed, or when the service is not part of the employer’s regular course of work \u003c/p\u003e\u003cp\u003eThose criteria mirror \u003ca href=\"https://www.joc.com/article/proposed-federal-rule-threatens-independent-contractor-model-in-trucking-opponents-5242331\"\u003ethe so-called ABC test that is used in states including California\u003c/a\u003e and \u003ca href=\"https://www.joc.com/article/stg-shifting-from-drayage-carrier-to-broker-after-new-jersey-legal-challenge-5703212\"\u003eNew Jersey\u003c/a\u003e to classify independent contractors and has been widely criticized for forcing motor carriers to drop owner-operator drivers in favor of employee drivers. \u003c/p\u003e\u003cp\u003eThe PRO Act also creates the new category of a “joint employer” that determines or controls how an employee of another firm performs their job. Critics have said that it could create a condition where a marine terminal can be classified as a joint employer of a port trucker due to the instructions and requirements for drivers entering their facility. \u003c/p\u003e\u003cp\u003eThe American Trucking Associations said in a statement following Chavez-DeRemer’s nomination that her “anti-trucking policies undermine our essential workforce, threaten the right of independent truckers to choose their own career path, and impede the efficiency of the supply chain.” \u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Michael Angell at \u003c/i\u003e\u003ca href=\"mailto:michael.angell@spglobal.com \"\u003e\u003ci\u003emichael.angell@spglobal.com\u003c/i\u003e\u003c/a\u003e. \u003c/p\u003e\u003c/div\u003e","Metadata":{"BylineOverwrite":null,"AuthorCompanyOrEventLink":null,"PaywallLocked":true,"FeatureImageCopyright":"Chavez-DeRemer has co-sponsored bills that would expand the rights of unions and would make it harder to hire independent contractors. Photo credit: BigBlues / Shutterstock.com.","EventDate":null,"__typename":"Metadata"},"ModDate":"1732741514920","Taxonomy":{"MainCategory":[{"Id":"16","Name":"Transport, Trade and Regulation News","Redirects":[{"Path":"/supply-chain/transport-trade-and-regulation-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"AdditionalCategories":[{"Id":"39","Name":"Drayage","Redirects":[{"Path":"/maritime/port-news/drayage","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"45","Name":"Longshore labor","Redirects":[{"Path":"/maritime/port-news/longshore-labor","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"50","Name":"Trucking labor","Redirects":[{"Path":"/surface/trucking-news/trucking-labor","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"ContentType":"ARTICLE","__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"Michael Angell, Senior Editor","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1732737138000","TitlePlainText":"Trump’s labor pick draws longshore and Teamster praise but trucker ire","Published":true,"Redirects":[{"Path":"/article/trumps-labor-pick-draws-longshore-and-teamster-praise-but-trucker-ire-5846861","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eThe selection of Oregon Rep. Lori Chavez-DeRemer is seen as favorable to unions, with the new administration potentially facing the need to intervene if ILA contract talks aren’t settled before Trump takes office.\u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"The selection of Oregon Rep. Lori Chavez-DeRemer is seen as favorable to unions, with the new administration potentially facing the need to intervene if ILA contract talks aren’t settled before Trump takes office.","__typename":"Document"},{"Id":"5846853_JournalOfCommerce","Attachments":[{"FileName":"5846849_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyPlainText":"Gemini Cooperation, the new Maersk/Hapag-Lloyd alliance, will open cargo bookings beginning Dec. 3, two months before the official Feb. 1 launch of the network, Hapag-Lloyd confirmed Wednesday. February voyages will be available when the booking portal opens, the carrier said in a customer advisory. “As our 2025 network will be fully phased in only after the transition from our current THE Alliance network during 2025, not all Gemini Cooperation voyages might be reflected in our schedule yet,” Hapag-Lloyd said. The carrier’s online schedules only cover vessel arrivals at the destination port up to the end of January, just before Hapag-Lloyd’s membership in THE Alliance ends. Gemini will provide 56 mainline and shuttle services covering seven east-west trades on a hub-and-spoke network and utilizing about 340 vessels with a total capacity of 3.7 million TEUs. The Gemini carriers have continued to tweak the network after releasing the final schedule on Oct. 9, which reflected their decision to choose the Cape of Good Hope option for vessel routings to avoid the threat of militant attacks in the Red Sea. The latest change, announced on Nov. 18, was to shift calls from the UK’s Felixstowe port to London Gateway on three Asia-Europe services. MSC updates east-west network The news from Gemini came as Mediterranean Shipping Co. released on Wednesday the latest update to its standalone east-west network that will launch in February. The changes feature extra port calls to “optimize our Asia to Europe, US and Canada connectivity,” the carrier said in a customer advisory. The biggest difference is MSC’s Mustang service connecting Asia to the Northwest US and Canada will be added to its standalone east-west network. The new rotation will be Xiamen–Yantian–Ningbo–Shanghai–Busan–Seattle–Vancouver–Portland–Busan. Other changes include the addition of calls at Vung Tau and Haiphong in Vietnam on MSC’s Pearl and Chinook services; Nansha on its Asia-Europe Lion and Dragon services; Yantian (westbound) and Yokohama in place of Busan on its Swan-Sentosa service; and Busan (westbound) on its Asia-US Orient and Lonestar services. MSC has also added a call at Vizhinjam in India on its Asia-Europe Jade service, with Colombo also added to both its Britannia service connecting Asia and North Europe and its eastbound America service between the US East Coast and Asia. MSC’s Albatross service will now feature two calls in the UK, with London Gateway added after Felixstowe, which will remain the first call in Europe from Asia. MSC said its standalone east-west network together with its existing Asia export services will “provide unmatched continental trade connectivity with Asia through a vast array of loops, competitive transit times and a high frequency of direct port calls.” Contact Keith Wallis at keithwallis@hotmail.com .","BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eGemini Cooperation, the new Maersk/Hapag-Lloyd alliance, will open cargo bookings beginning Dec. 3, two months before the official Feb. 1 launch of the network, Hapag-Lloyd confirmed Wednesday. \u003c/p\u003e\u003cp\u003eFebruary voyages will be available when the booking portal opens, the carrier said in a customer advisory. \u003c/p\u003e\u003cp\u003e“As our 2025 network will be fully phased in only after the transition from our current THE Alliance network during 2025, not all Gemini Cooperation voyages might be reflected in our schedule yet,” Hapag-Lloyd said. \u003c/p\u003e\u003cp\u003eThe carrier’s online schedules only cover vessel arrivals at the destination port up to the end of January, just before Hapag-Lloyd’s membership in THE Alliance ends. \u003c/p\u003e\u003cp\u003eGemini will provide 56 mainline and shuttle services covering seven east-west trades on a hub-and-spoke network and utilizing about 340 vessels with a total capacity of 3.7 million TEUs. \u003c/p\u003e\u003cp\u003eThe Gemini carriers have continued to tweak the network after releasing the final schedule on Oct. 9, which reflected their decision to choose the Cape of Good Hope option for vessel routings to avoid the threat of militant attacks in the Red Sea. The latest change, announced on Nov. 18, was to shift calls from the UK’s Felixstowe port to London Gateway on three Asia-Europe services. \u003c/p\u003e\u003ch3\u003eMSC updates east-west network \u003c/h3\u003e\u003cp\u003eThe news from Gemini came as Mediterranean Shipping Co. released on Wednesday the latest update to its standalone east-west network that will launch in February. The changes feature extra port calls to “optimize our Asia to Europe, US and Canada connectivity,” the carrier said in a customer advisory. \u003c/p\u003e\u003cp\u003eThe biggest difference is MSC’s Mustang service connecting Asia to the Northwest US and Canada will be added to its standalone east-west network. The new rotation will be Xiamen–Yantian–Ningbo–Shanghai–Busan–Seattle–Vancouver–Portland–Busan. \u003c/p\u003e\u003cp\u003eOther changes include the addition of calls at Vung Tau and Haiphong in Vietnam on MSC’s Pearl and Chinook services; Nansha on its Asia-Europe Lion and Dragon services; Yantian (westbound) and Yokohama in place of Busan on its Swan-Sentosa service; and Busan (westbound) on its Asia-US Orient and Lonestar services. \u003c/p\u003e\u003cp\u003eMSC has also added a call at Vizhinjam in India on its Asia-Europe Jade service, with Colombo also added to both its Britannia service connecting Asia and North Europe and its eastbound America service between the US East Coast and Asia. \u003c/p\u003e\u003cp\u003eMSC’s Albatross service will now feature two calls in the UK, with London Gateway added after Felixstowe, which will remain the first call in Europe from Asia. \u003c/p\u003e\u003cp\u003eMSC said its standalone east-west network together with its existing Asia export services will “provide unmatched continental trade connectivity with Asia through a vast array of loops, competitive transit times and a high frequency of direct port calls.” \u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Keith Wallis at \u003c/i\u003e\u003ca href=\"mailto:keithwallis@hotmail.com\"\u003e\u003ci\u003ekeithwallis@hotmail.com\u003c/i\u003e\u003c/a\u003e\u003ci\u003e.\u003c/i\u003e \u003c/p\u003e\u003c/div\u003e","Metadata":{"BylineOverwrite":null,"AuthorCompanyOrEventLink":null,"PaywallLocked":true,"FeatureImageCopyright":"February voyages will be available when the Gemini Cooperation booking portal opens on Dec. 3. Photo credit: Oliver Hoffman / Shutterstock.com.","EventDate":null,"__typename":"Metadata"},"ModDate":"1732741154850","Taxonomy":{"MainCategory":[{"Id":"34","Name":"Container lines","Redirects":[{"Path":"/maritime/container-shipping-news/container-lines","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"AdditionalCategories":[{"Id":"35","Name":"Trans-Atlantic","Redirects":[{"Path":"/maritime/container-shipping-news/trans-atlantic","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"37","Name":"Asia-Europe","Redirects":[{"Path":"/maritime/container-shipping-news/asia-europe","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"38","Name":"Trans-Pacific","Redirects":[{"Path":"/maritime/container-shipping-news/trans-pacific","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"ContentType":"ARTICLE","__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"Keith Wallis, Special Correspondent","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1732735454000","TitlePlainText":"Hapag-Lloyd says Gemini alliance cargo bookings to open Dec. 3","Published":true,"Redirects":[{"Path":"/article/hapag-lloyd-says-gemini-alliance-cargo-bookings-to-open-dec-3-5846853","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eThe news from Gemini came as MSC released the latest update to its standalone east-west network that will also launch in February. \u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"The news from Gemini came as MSC released the latest update to its standalone east-west network that will also launch in February.","__typename":"Document"},{"Id":"5833725_JournalOfCommerce","Attachments":[{"FileName":"5833731_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyPlainText":"Taiwan’s Evergreen Marine Asia and PSA Singapore on Tuesday signed a deal to form a joint venture terminal operation that will become Evergreen’s Southeast Asia transshipment center. Evergreen said the Singapore hub will strengthen its operational efficiency and bolster the competitiveness of its fleet. Evergreen will invest up to $57 million for a 49% stake in the venture, called Evergreen-PSA Terminal Ltd, the carrier said in a filing to the Taiwan stock exchange. Terminal operations are expected to start by the end of this year. Evergreen said the move will allow the carrier’s ships in Singapore to “obtain priority berthing rights [and] have exclusive loading and unloading resources to reduce waiting time for berthing operations.” The terminal is the first joint venture facility between Evergreen and PSA. ”As the company’s business expands, we are always looking for like-minded partners to build high-efficiency terminals in important locations,” Evergreen Marine Chairman Chang Yan Yi said in the statement. The deal adds to PSA Singapore’s growing stable of similar joint venture terminals with other carriers, notably Cosco Shipping, CMA CGM, HMM, Mediterranean Shipping Co. and Ocean Network Express. Evergreen directors decided in August to set up a joint venture company with PSA just weeks after Singapore experienced unprecedented congestion in May and June, with vessel delays of up to eight to 10 days. At the time, Singapore’s Maritime and Port Authority (MPA) said the problems were the culmination of months of disruption as carriers curtailed or blanked services and discharged cargo in Singapore as vessels diverted around southern Africa to avoid the Red Sea. The situation was exacerbated due to strong east-west cargo volumes as shippers consigned cargo early to offset delays. Contact Keith Wallis at keithwallis@hotmail.com .","BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eTaiwan’s Evergreen Marine Asia and PSA Singapore on Tuesday signed a deal to form a joint venture terminal operation that will become Evergreen’s Southeast Asia transshipment center. Evergreen said the Singapore hub will strengthen its operational efficiency and bolster the competitiveness of its fleet. \u003c/p\u003e\u003cp\u003eEvergreen will invest up to $57 million for a 49% stake in the venture, called Evergreen-PSA Terminal Ltd, the carrier said in a filing to the Taiwan stock exchange.\u003c/p\u003e\u003cp\u003eTerminal operations are expected to start by the end of this year.\u003c/p\u003e\u003cp\u003eEvergreen said the move will allow the carrier’s ships in Singapore to “obtain priority berthing rights [and] have exclusive loading and unloading resources to reduce waiting time for berthing operations.”\u003c/p\u003e\u003cp\u003eThe terminal is the first joint venture facility between Evergreen and PSA.\u003c/p\u003e\u003cp\u003e”As the company’s business expands, we are always looking for like-minded partners to build high-efficiency terminals in important locations,” Evergreen Marine Chairman Chang Yan Yi said in the statement.\u003c/p\u003e\u003cp\u003eThe deal adds to PSA Singapore’s growing stable of similar joint venture terminals with other carriers, notably Cosco Shipping, CMA CGM, HMM, Mediterranean Shipping Co. and Ocean Network Express.\u003c/p\u003e\u003cp\u003eEvergreen directors decided in August to set up a joint venture company with PSA just weeks after Singapore experienced unprecedented congestion in May and June, with vessel delays of up to eight to 10 days.\u003c/p\u003e\u003cp\u003eAt the time, Singapore’s Maritime and Port Authority (MPA) said the problems were the culmination of months of disruption as carriers curtailed or blanked services and discharged cargo in Singapore as vessels diverted around southern Africa to avoid the Red Sea. The situation was exacerbated due to strong east-west cargo volumes as shippers consigned cargo early to offset delays.\u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Keith Wallis at \u003c/i\u003e\u003ca href=\"mailto:keithwallis@hotmail.com\"\u003e\u003ci\u003ekeithwallis@hotmail.com\u003c/i\u003e\u003c/a\u003e.\u003c/p\u003e\u003c/div\u003e","Metadata":{"BylineOverwrite":null,"AuthorCompanyOrEventLink":null,"PaywallLocked":true,"FeatureImageCopyright":"Evergreen will invest up to $57 million for a 49% stake in the terminal venture with PSA Singapore. Photo credit: Felipe Sanchez / Shutterstock.com.","EventDate":null,"__typename":"Metadata"},"ModDate":"1732661411060","Taxonomy":{"MainCategory":[{"Id":"34","Name":"Container lines","Redirects":[{"Path":"/maritime/container-shipping-news/container-lines","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"AdditionalCategories":[{"Id":"43","Name":"Marine terminals","Redirects":[{"Path":"/maritime/port-news/marine-terminals","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"44","Name":"International ports","Redirects":[{"Path":"/maritime/port-news/international-ports","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"ContentType":"ARTICLE","__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"Keith Wallis, Special Correspondent","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1732657288000","TitlePlainText":"Evergreen sets up transshipment hub in Singapore with PSA terminal deal","Published":true,"Redirects":[{"Path":"/article/evergreen-sets-up-transshipment-hub-in-singapore-with-psa-terminal-deal-5833725","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eThe agreement was set in motion by Evergreen just weeks after Singapore experienced unprecedented congestion in May and June, with vessel delays of up to 10 days.\u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"The agreement was set in motion by Evergreen just weeks after Singapore experienced unprecedented congestion in May and June, with vessel delays of up to 10 days.","__typename":"Document"},{"Id":"5833589_JournalOfCommerce","Attachments":[{"FileName":"5833574_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyPlainText":"From its origins over a decade ago, NYSHEX, founded and led by Gordon Downes, has always aimed to advance a simple yet stubbornly elusive concept in container shipping: integrity of contracts. Incomprehensible to outsiders, signed contracts — many pages long and vetted by lawyers — are unenforceable when confronted by the real-world forces of supply and demand and volatile pricing. “The big problem that prompted us to start NYSHEX is contracts in our industry don’t perform,” Downes told the Journal of Commerce. In many cases, the shipper or carrier fails to live up to the contract terms, whether that be a carrier unwilling to provide vessel space or a shipper steering cargo to other carriers or non-vessel-operating common carriers (NVOs) to obtain a lower rate, thus failing to deliver the agreed-upon volumes. Triggers for failed contracts occur when spot rates deviate significantly from contract rates and carriers blank sailings or omit ports on short notice due to changes in demand, creating shortfalls in available capacity. Downes said ocean container contracts have just a 65% fulfillment rate. Although such practices undermine trust and stress relationships to the breaking point, no scenario results in serious consequences for the offending party. Litigation or government enforcement remain rare outside of a tiny handful of highly publicized cases. Originally, NYSHEX, founded by Downes in 2015 “to solve the problem of poor contract fulfillment,” aimed to create an exchange whereby mutually committed — meaning enforceable — contracts could be executed by shippers, NVOs and carriers under full approval of the US Federal Maritime Commission (FMC) and the auspices of the NYSHEX brand. To the limited extent the market availed itself of such contracts, they worked: in the vast majority of cases, both parties lived up to what they committed to. Still, the penalties meant to ensure compliance “can put a lot of strain on relationships, especially when the spot rates are so volatile,” Downes said. But while the concept found some uptake, demand was cyclical and could not overcome at scale the market forces that, in peculiar container shipping mentality, frequently lead each side to seek near-term pricing gain, if it is to be had, at the expense of longer-term certainty of space or volumes. Whether it’s an obsessively procurement-based mindset on the part of shippers in seeking to drive prices lower whenever possible, or carriers seeing better opportunities on the spot market, sacrifices in pursuit of certainty have yet to take hold on an industrywide level. If there was ever a moment for that mentality to be challenged, it was the pandemic, which showed shippers how quickly and painfully vessel space can dry up in a crisis. And yet the problem remains. New technology and products But NYSHEX persevered with its original vision, even if that meant applying it in new ways. The company developed technology that enables parties to monitor contract performance, drawing them into a real-time collaborative environment where issues can be identified and resolved on the spot, versus after the fact during increasingly infrequent quarterly performance reviews. In other words, if contracts can be mutually monitored in real time, the odds are better the parties will comply. Now NYSHEX is delving yet further into solving the fundamental problem: promoting the use of index-linked contracts as a way to build contract integrity and certainty into ocean container supply chains. In announcing a Series C funding round last week, NYSHEX made a strong statement that there is traction in the idea, however long it may have been around. The funding round attracted participation from existing investors, including Goldman Sachs, and new ones, including the Intercontinental Exchange (NYSE:ICE), a leading exchange operator which will calculate the new indices based on actual rates paid by shippers. Other container freight rate indices tend to be based on traditional price discovery performed by analysts. It said it will launch a new series of indices and tools to administer index-linked contracts. The question, then, is whether index-linked contracts are able to move the industry forward in addressing the continuing core problem of a lack of contract integrity. Linking pricing to an index means shippers’ rates face less risk of falling out of the range of prevailing rates and cargo being left behind at origin. But there is less budget certainty which clashes with annual budgeting cycles at beneficial cargo owners (BCOs). And while there are futures contracts traded, such as an active market of day traders on the Shanghai International Energy Exchange (INE China), which launched trading in a Containerized Freight Index Futures Contract in 2023, they haven’t built the liquidity or credibility to be of interest to BCO finance teams who would engage in hedging against adverse movements in ocean rates. And carriers have been outspoken about their declining interest in container freight futures. Index-linked contracts have a history of going in and out of fashion; they fell into fashion during the pandemic when shippers were desperate for space but fell out once the extremes of the disruptions were over. Also holding back index-linked contracts are shipper and carrier lawyers needing to come to agree on terms and conditions, frequently a difficult hurdle to overcome. Now, amid a continuing tight market fueled by Red Sea reroutings and robust 2024 volumes, there is more talk of using index-linked contracts. But just as it was before, that could just be cyclical. Contact Peter Tirschwell at peter.tirschwell@spglobal.com .","BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eFrom its origins over a decade ago, NYSHEX, founded and led by Gordon Downes, has always aimed to advance a simple yet stubbornly elusive concept in container shipping: integrity of contracts. \u003c/p\u003e\u003cp\u003eIncomprehensible to outsiders, signed contracts — many pages long and vetted by lawyers — are unenforceable when confronted by the real-world forces of supply and demand and volatile pricing. \u003c/p\u003e\u003cp\u003e“The big problem that prompted us to start NYSHEX is contracts in our industry don’t perform,” Downes told the \u003ci\u003eJournal of Commerce\u003c/i\u003e. \u003c/p\u003e\u003cp\u003eIn many cases, the shipper or carrier fails to live up to the contract terms, whether that be a carrier unwilling to provide vessel space or a shipper steering cargo to other carriers or non-vessel-operating common carriers (NVOs) to obtain a lower rate, thus failing to deliver the agreed-upon volumes. \u003c/p\u003e\u003cp\u003eTriggers for failed contracts occur when spot rates deviate significantly from contract rates and carriers blank sailings or omit ports on short notice due to changes in demand, creating shortfalls in available capacity. Downes said ocean container contracts have just a 65% fulfillment rate. \u003c/p\u003e\u003cp\u003eAlthough such practices undermine trust and stress relationships to the breaking point, no scenario results in serious consequences for the offending party. Litigation or government enforcement remain rare outside of a tiny handful of highly publicized cases. \u003c/p\u003e\u003cp\u003eOriginally, NYSHEX, founded by Downes in 2015 “to solve the problem of poor contract fulfillment,” aimed to create an exchange whereby mutually committed — meaning enforceable — contracts could be executed by shippers, NVOs and carriers under full approval of the US Federal Maritime Commission (FMC) and the auspices of the NYSHEX brand. To the limited extent the market availed itself of such contracts, they worked: in the vast majority of cases, both parties lived up to what they committed to. Still, the penalties meant to ensure compliance “can put a lot of strain on relationships, especially when the spot rates are so volatile,” Downes said. \u003c/p\u003e\u003cp\u003eBut while the concept found some uptake, demand was cyclical and could not overcome at scale the market forces that, in peculiar container shipping mentality, frequently lead each side to seek near-term pricing gain, if it is to be had, at the expense of longer-term certainty of space or volumes. \u003c/p\u003e\u003cp\u003eWhether it’s an obsessively procurement-based mindset on the part of shippers in seeking to drive prices lower whenever possible, or carriers seeing better opportunities on the spot market, sacrifices in pursuit of certainty have yet to take hold on an industrywide level. \u003c/p\u003e\u003cp\u003eIf there was ever a moment for that mentality to be challenged, it was the pandemic, which showed shippers how quickly and painfully vessel space can dry up in a crisis. And yet the problem remains. \u003c/p\u003e\u003ch3\u003eNew technology and products\u003c/h3\u003e\u003cp\u003eBut NYSHEX persevered with its original vision, even if that meant applying it in new ways. The company developed technology that enables parties to monitor contract performance, drawing them into a real-time collaborative environment where issues can be identified and resolved on the spot, versus after the fact during increasingly infrequent quarterly performance reviews. In other words, if contracts can be mutually monitored in real time, the odds are better the parties will comply. \u003c/p\u003e\u003cp\u003eNow NYSHEX is delving yet further into solving the fundamental problem: promoting the use of index-linked contracts as a way to build contract integrity and certainty into ocean container supply chains. \u003c/p\u003e\u003cp\u003eIn announcing a Series C funding round last week, NYSHEX made a strong statement that there is traction in the idea, however long it may have been around. The funding round attracted participation from existing investors, including Goldman Sachs, and new ones, including the Intercontinental Exchange (NYSE:ICE), a leading exchange operator which will calculate the new indices based on actual rates paid by shippers. Other container freight rate indices tend to be based on traditional price discovery performed by analysts. It said it will launch a new series of indices and tools to administer index-linked contracts. \u003c/p\u003e\u003cp\u003eThe question, then, is whether index-linked contracts are able to move the industry forward in addressing the continuing core problem of a lack of contract integrity. \u003c/p\u003e\u003cp\u003eLinking pricing to an index means shippers’ rates face less risk of falling out of the range of prevailing rates and cargo being left behind at origin. But there is less budget certainty which clashes with annual budgeting cycles at beneficial cargo owners (BCOs). And while there are futures contracts traded, such as an active market of day traders on the Shanghai International Energy Exchange (INE China), which launched trading in a Containerized Freight Index Futures Contract in 2023, they haven’t built the liquidity or credibility to be of interest to BCO finance teams who would engage in hedging against adverse movements in ocean rates. And carriers have been outspoken about their declining interest in container freight futures. \u003c/p\u003e\u003cp\u003eIndex-linked contracts have a history of going in and out of fashion; they fell into fashion during the pandemic when shippers were desperate for space but fell out once the extremes of the disruptions were over. Also holding back index-linked contracts are shipper and carrier lawyers needing to come to agree on terms and conditions, frequently a difficult hurdle to overcome. \u003c/p\u003e\u003cp\u003eNow, amid a continuing tight market fueled by Red Sea reroutings and robust 2024 volumes, there is more talk of using index-linked contracts. But just as it was before, that could just be cyclical. \u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Peter Tirschwell at \u003c/i\u003e\u003ca href=\"mailto:peter.tirschwell@spglobal.com\"\u003e\u003ci\u003epeter.tirschwell@spglobal.com\u003c/i\u003e\u003c/a\u003e.\u003c/p\u003e\u003c/div\u003e","Metadata":{"BylineOverwrite":null,"AuthorCompanyOrEventLink":null,"PaywallLocked":true,"FeatureImageCopyright":"The COVID-19 pandemic showed shippers just how quickly and painfully vessel space can dry up in a crisis. Photo credit: GreenOak / Shutterstock.com.","EventDate":null,"__typename":"Metadata"},"ModDate":"1732654040583","Taxonomy":{"MainCategory":[{"Id":"34","Name":"Container lines","Redirects":[{"Path":"/maritime/container-shipping-news/container-lines","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"AdditionalCategories":[{"Id":"17","Name":"Logistics Technology News","Redirects":[{"Path":"/supply-chain/logistics-technology-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"ContentType":"ARTICLE","__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"Peter Tirschwell","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1732649662000","TitlePlainText":"NYSHEX keeps core vision while evolving in volatile container shipping market","Published":true,"Redirects":[{"Path":"/article/nyshex-keeps-core-vision-while-evolving-in-volatile-container-shipping-market-5833589","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eNYSHEX is making a renewed effort to solve the fundamental problem of ocean container supply chains, promoting the use of index-linked contracts to build contract integrity and certainty. \u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"NYSHEX is making a renewed effort to solve the fundamental problem of ocean container supply chains, promoting the use of index-linked contracts to build contract integrity and certainty.","__typename":"Document"}],"commentaries":[{"Id":"5846827_JournalOfCommerce","Attachments":[{"FileName":"5846737_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyPlainText":"The last two years have been characterized by flat demand, volatile rates and increased costs in the logistics industry. But executives looking at data and comparing it with the pre-COVID era should bear in mind that one thing is vastly different this time around: We’re in the throes of a new technological wave around artificial intelligence (AI) that sets the stage for a meaningfully different environment of business building. AI has dominated discussions across industries in the last two years as buyers seek to separate signal from noise. This has sparked both enthusiasm and skepticism. Is AI in supply chain management merely a temporary trend, or does it possess the potential for lasting impact? Moreover, which AI applications are most likely to transform supply chain operations in the long run? At a supply chain conference earlier this year, I asked a room of about 200 executives how many were using generative AI in their everyday jobs. Almost every single hand went up. What was once a new, scary technology is proving to provide operational leverage in a period where margins are under secular pressure. Among service-intensive logistics services providers (LSPs) such as forwarders and freight brokers, AI is proving to be a valuable asset for coping with a litany of freight operations and back-office tasks. It turns out this tooling can help increase productivity in a way that reduces the cost to serve, or the expense required to execute a shipment. While it’s early days, we’re seeing harsh skepticism now turning into praise as early indicators of AI’s return on investment (ROI) are hard to ignore in an environment where companies have typically managed long-term margins through phases of retrenching and expansion. Given the service orientation of the supply chain, sales enablement is a key area of focus. We know of one upstart who has developed their own AI voice agent to handle preliminary sales calls on behalf of insurance brokers placing trucking liability policies. That is expected to improve sales conversions by at least 25% when rolled out across the organization. In another instance, a large freight broker mentioned cost reductions of 20% by having a voice agent qualify inbound calls from truckers looking for freight. This helps carrier sales professionals focus only on the higher-value carriers they believe fit their network and the needs of their shipper-clients. Understanding the promise of AI Lastly, emerging new business models are galvanizing the disruptive nature of AI. The adage among investors is to dub this new business model as “service-as-software.” It simply means that software now does the work rather than enabling it. Business models reflect that by simply “charging for the work,” allowing companies to bill directly for automated processes. That’s a shift akin to the previous migration to software-as-a-service (SaaS), but with an operational twist. Take customs brokerage and trade compliance, for example. Regardless of your politics, it’s clear that trade regulation will increase in complexity in the years to come. But the supply of customs brokers has been relatively flat, with more than 5,000 retirements expected by the end of the decade. Customs brokerage businesses are hard to manage to profitability and are often a loss-leader to cross-sell other freight services given how loyal customers can be to their customs broker. We’ve seen several startups develop an AI-native ability to broker customs at gross margins in excess of 50% and handle volumes per employee two to three times greater than incumbents. They’re also able to tie that to trade compliance workflows so organizations can make more informed decisions around sourcing and distribution to manage expenses while staying within the parameters of the law. We’re still in the early innings of understanding the promise AI brings to the supply chain, as well as how to develop and scale key processes around its capabilities. The thing that’s clear to me is that we cannot view the business environment and operational best practices of a bygone era as the baseline for the future. AI is something that’s here to stay and brings with it a large promise for an industry as service-heavy as supply chain. Data from these early deployments suggests that smaller teams can handle more volume without forsaking customer outcomes. If this continues, it’s hard to see a world where AI isn’t a necessary component for financial durability in a sector that will always grapple with the volatility of rates and the ebbs and flows of demand and freight volumes. Contact Santosh Sankar at santosh@dynamo.vc .","BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eThe last two years have been characterized by flat demand, volatile rates and increased costs in the logistics industry. But executives looking at data and comparing it with the pre-COVID era should bear in mind that one thing is vastly different this time around: We’re in the throes of a new technological wave around artificial intelligence (AI) that sets the stage for a meaningfully different environment of business building. \u003c/p\u003e\u003cp\u003eAI has dominated discussions across industries in the last two years as buyers seek to separate signal from noise. This has sparked both enthusiasm and skepticism. Is AI in supply chain management merely a temporary trend, or does it possess the potential for lasting impact? Moreover, which AI applications are most likely to transform supply chain operations in the long run? \u003c/p\u003e\u003cp\u003eAt a supply chain conference earlier this year, I asked a room of about 200 executives how many were using generative AI in their everyday jobs. Almost every single hand went up. What was once a new, scary technology is proving to provide operational leverage in a period where margins are under secular pressure. \u003c/p\u003e\u003cp\u003eAmong service-intensive logistics services providers (LSPs) such as forwarders and freight brokers, AI is proving to be a valuable asset for coping with a litany of freight operations and back-office tasks. It turns out this tooling can help increase productivity in a way that reduces the cost to serve, or the expense required to execute a shipment. \u003c/p\u003e\u003cp\u003eWhile it’s early days, we’re seeing harsh skepticism now turning into praise as early indicators of AI’s return on investment (ROI) are hard to ignore in an environment where companies have typically managed long-term margins through phases of retrenching and expansion. \u003c/p\u003e\u003cp\u003eGiven the service orientation of the supply chain, sales enablement is a key area of focus. We know of one upstart who has developed their own AI voice agent to handle preliminary sales calls on behalf of insurance brokers placing trucking liability policies. That is expected to improve sales conversions by at least 25% when rolled out across the organization. \u003c/p\u003e\u003cp\u003eIn another instance, a large freight broker mentioned cost reductions of 20% by having a voice agent qualify inbound calls from truckers looking for freight. This helps carrier sales professionals focus only on the higher-value carriers they believe fit their network and the needs of their shipper-clients. \u003c/p\u003e\u003ch3\u003eUnderstanding the promise of AI \u003c/h3\u003e\u003cp\u003eLastly, emerging new business models are galvanizing the disruptive nature of AI. The adage among investors is to dub this new business model as “service-as-software.” It simply means that software now does the work rather than enabling it. Business models reflect that by simply “charging for the work,” allowing companies to bill directly for automated processes. That’s a shift akin to the previous migration to software-as-a-service (SaaS), but with an operational twist. \u003c/p\u003e\u003cp\u003eTake customs brokerage and trade compliance, for example. Regardless of your politics, it’s clear that trade regulation will increase in complexity in the years to come. But the supply of customs brokers has been relatively flat, with more than 5,000 retirements expected by the end of the decade. Customs brokerage businesses are hard to manage to profitability and are often a loss-leader to cross-sell other freight services given how loyal customers can be to their customs broker. \u003c/p\u003e\u003cp\u003eWe’ve seen several startups develop an AI-native ability to broker customs at gross margins in excess of 50% and handle volumes per employee two to three times greater than incumbents. They’re also able to tie that to trade compliance workflows so organizations can make more informed decisions around sourcing and distribution to manage expenses while staying within the parameters of the law. \u003c/p\u003e\u003cp\u003eWe’re still in the early innings of understanding the promise AI brings to the supply chain, as well as how to develop and scale key processes around its capabilities. The thing that’s clear to me is that we cannot view the business environment and operational best practices of a bygone era as the baseline for the future. \u003c/p\u003e\u003cp\u003eAI is something that’s here to stay and brings with it a large promise for an industry as service-heavy as supply chain. Data from these early deployments suggests that smaller teams can handle more volume without forsaking customer outcomes. If this continues, it’s hard to see a world where AI isn’t a necessary component for financial durability in a sector that will always grapple with the volatility of rates and the ebbs and flows of demand and freight volumes. \u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Santosh Sankar at \u003c/i\u003e\u003ca href=\"mailto:santosh@dynamo.vc \"\u003e\u003ci\u003esantosh@dynamo.vc\u003c/i\u003e\u003c/a\u003e.\u003c/p\u003e\u003c/div\u003e","Metadata":{"BylineOverwrite":"Santosh Sankar, Managing Partner, Dynamo Ventures ","AuthorCompanyOrEventLink":null,"PaywallLocked":true,"FeatureImageCopyright":"We’re still in the early stages of understanding the promise AI brings to the supply chain, writes Santosh Sankar. Photo credit: Anggalih Prasetya / Shutterstock.com.","EventDate":null,"__typename":"Metadata"},"ModDate":"1732741994850","Taxonomy":{"MainCategory":[{"Id":"17","Name":"Logistics Technology News","Redirects":[{"Path":"/supply-chain/logistics-technology-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"AdditionalCategories":[],"ContentType":"COMMENTARY","__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1732730723000","TitlePlainText":"Supply chains embrace the AI takeover to slash costs","Published":true,"Redirects":[{"Path":"/article/supply-chains-embrace-the-ai-takeover-to-slash-costs-5846827","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eIt’s hard to see a world where AI isn’t a necessary component for financial durability in a sector that will always grapple with the volatility of freight rates and the ebbs and flows of demand and volumes. \u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"It’s hard to see a world where AI isn’t a necessary component for financial durability in a sector that will always grapple with the volatility of freight rates and the ebbs and flows of demand and volumes.","__typename":"Document"},{"Id":"5817545_JournalOfCommerce","Attachments":[{"FileName":"5817544_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyPlainText":"The “future fuel” dilemma is a 21st century conundrum for shipowners of every type of ship, but perhaps more so for the multipurpose (MPV) and heavy-lift fleet. With their heavy and outsized cargoes, finding room for the larger fuel tanks needed for low-density fuels is a real challenge, which makes emerging fuels hydrogen and ammonia a much tougher option for MPV newbuilds today. Green methanol has potential, but there are caveats to that choice, too. The market is coming to terms with the time it will take to scale up the production and distribution of green methanol. While supplies can and are being secured for some pioneering ship operators, it is likely to be much harder to procure green methanol supplies for tramping MPVs with their variable routings and port calls. However, some carriers are choosing methanol from the newbuild stage, having implemented a “ready” approach with plans to convert. These include AAL with a series of eight 32,000-deadweight ton (dwt) liner-type MPVs, three of which have been delivered; Griegstar and Gearbulk with eight ammonia/methanol-ready 82,300-dwt open-hatch general cargo newbuilds; Skarv with four 7,000-dwt ammonia/methanol-ready project cargo carriers; and SAL’s methanol-ready heavy-lift MPV Orca class. Biofuels offer a more immediate solution for MPV operators, especially for those operating in European Union waters, where from next year FuelEU Maritime regulations will heavily penalize vessels that cannot comply with the requirements for using alternative fuels with lower fossil carbon content. Many owners and operators in the sector have already tested different kinds of biofuels with various “drop-in” ratios. A steep increase in demand for biofuels is expected in the coming years. At DNV, we see benefits in the pooling mechanism allowed in the EU’s FuelEU Maritime regulation to encourage future fuel procurement at scale. This could serve the MPV sector well as an emissions-reduction strategy. This novel approach gives MPV shipowners the option to pool well-to-wake greenhouse gas fuel intensity (GFI) compliance across several ships from the same or different companies. This means that a non-compliant vessel could rely on others in a pool to achieve a compliant combined GFI. This cooperative approach could provide a pathway for MPV operators to secure the benefits of using low- or zero-carbon fuels. ‘New nuclear’ a long-term possibility Nuclear propulsion as an alternative fuel for MPVs falls in a much longer-term window, in my view. Small modular reactors (SMRs) are still in the testing stage on land for power generation, and it will be many years before they will be ready for commercial use in shipping. Expect to see SMR testing for ultra-large container carriers well before MPVs are ready for new nuclear. The industry is looking closely at the possibilities, however, so at DNV, we have recently joined with companies and stakeholders in the maritime and nuclear sector to explore the technology as part of the new Nuclear Energy Maritime Organization (NEMO). Batteries, as part of hybrid propulsion solutions, are on the rise. We estimate that some 900 ships are operating with batteries systems — from a few fully electric vessels, mainly in operation on short-sea point-to point ferry trades, to varying degrees of hybridization where batteries are combined with generators or fuel cells. Batteries as part of hybrid solutions are a relatively mature technology. Combine this with energy efficiency improvements, improved battery and charging technology, and a decrease in costs, and the economics of hybridization are likely to continue to improve. No matter the fuels, a greener choice will mean higher costs for MPVs. This puts an even greater premium on reducing losses through energy efficiency. Operational and technical energy-efficiency measures we can deploy today can reduce fuel consumption by up to 16%. The business case for these technologies, including wind-assisted propulsion, waste heat recovery, and hybrid systems is very strong compared with the cost of alternative fuels. Carbon capture and storage is a potential — but niche — option for emissions reduction for MPVs, but again the room required on board to store the CO2 is the sticking point. This takes us back to the key limitation of MPVs when switching to lower-density fuels: a lack of onboard space. For now, the most likely solution is that the MPV sector will need to rely on biofuels, dual-fuel and future fuel-ready notations, perhaps with demand aggregation and GFI pooling as we move ahead on the path to zero. Contact Jost Bergmann at jost.bergmann@dnv.com . DNV is a Norway-based classification society.","BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eThe “future fuel” dilemma is a 21st century conundrum for shipowners of every type of ship, but perhaps more so for the multipurpose (MPV) and heavy-lift fleet. With their heavy and outsized cargoes, finding room for the larger fuel tanks needed for low-density fuels is a real challenge, which makes emerging fuels hydrogen and ammonia a much tougher option for MPV newbuilds today. \u003c/p\u003e\u003cp\u003eGreen methanol has potential, but there are caveats to that choice, too. The market is coming to terms with the time it will take to scale up the production and distribution of green methanol. While supplies can and are being secured for some pioneering ship operators, it is likely to be much harder to procure green methanol supplies for tramping MPVs with their variable routings and port calls. \u003c/p\u003e\u003cp\u003eHowever, some carriers are choosing methanol from the newbuild stage, having implemented a “ready” approach with plans to convert. These include AAL with a series of eight 32,000-deadweight ton (dwt) liner-type MPVs, three of which have been delivered; Griegstar and Gearbulk with eight ammonia/methanol-ready 82,300-dwt open-hatch general cargo newbuilds; Skarv with four 7,000-dwt ammonia/methanol-ready project cargo carriers; and SAL’s methanol-ready heavy-lift MPV Orca class. \u003c/p\u003e\u003cp\u003eBiofuels offer a more immediate solution for MPV operators, especially for those operating in European Union waters, where from next year FuelEU Maritime regulations will heavily penalize vessels that cannot comply with the requirements for using alternative fuels with lower fossil carbon content. Many owners and operators in the sector have already tested different kinds of biofuels with various “drop-in” ratios. A steep increase in demand for biofuels is expected in the coming years. \u003c/p\u003e\u003cp\u003eAt DNV, we see benefits in the pooling mechanism allowed in the EU’s FuelEU Maritime regulation to encourage future fuel procurement at scale. This could serve the MPV sector well as an emissions-reduction strategy. This novel approach gives MPV shipowners the option to pool well-to-wake greenhouse gas fuel intensity (GFI) compliance across several ships from the same or different companies. This means that a non-compliant vessel could rely on others in a pool to achieve a compliant combined GFI. This cooperative approach could provide a pathway for MPV operators to secure the benefits of using low- or zero-carbon fuels. \u003c/p\u003e\u003ch3\u003e‘New nuclear’ a long-term possibility \u003c/h3\u003e\u003cp\u003eNuclear propulsion as an alternative fuel for MPVs falls in a much longer-term window, in my view. Small modular reactors (SMRs) are still in the testing stage on land for power generation, and it will be many years before they will be ready for commercial use in shipping. Expect to see SMR testing for ultra-large container carriers well before MPVs are ready for new nuclear. The industry is looking closely at the possibilities, however, so at DNV, we have recently joined with companies and stakeholders in the maritime and nuclear sector to explore the technology as part of the new Nuclear Energy Maritime Organization (NEMO). \u003c/p\u003e\u003cp\u003eBatteries, as part of hybrid propulsion solutions, are on the rise. We estimate that some 900 ships are operating with batteries systems — from a few fully electric vessels, mainly in operation on short-sea point-to point ferry trades, to varying degrees of hybridization where batteries are combined with generators or fuel cells. Batteries as part of hybrid solutions are a relatively mature technology. Combine this with energy efficiency improvements, improved battery and charging technology, and a decrease in costs, and the economics of hybridization are likely to continue to improve. \u003c/p\u003e\u003cp\u003eNo matter the fuels, a greener choice will mean higher costs for MPVs. This puts an even greater premium on reducing losses through energy efficiency. Operational and technical energy-efficiency measures we can deploy today can reduce fuel consumption by up to 16%. The business case for these technologies, including wind-assisted propulsion, waste heat recovery, and hybrid systems is very strong compared with the cost of alternative fuels. \u003c/p\u003e\u003cp\u003eCarbon capture and storage is a potential — but niche — option for emissions reduction for MPVs, but again the room required on board to store the CO2 is the sticking point. This takes us back to the key limitation of MPVs when switching to lower-density fuels: a lack of onboard space. For now, the most likely solution is that the MPV sector will need to rely on biofuels, dual-fuel and future fuel-ready notations, perhaps with demand aggregation and GFI pooling as we move ahead on the path to zero. \u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Jost Bergmann at \u003c/i\u003e\u003ca href=\"mailto:jost.bergmann@dnv.com\"\u003e\u003ci\u003ejost.bergmann@dnv.com\u003c/i\u003e\u003c/a\u003e\u003ci\u003e. DNV is a Norway-based classification society.\u003c/i\u003e \u003c/p\u003e\u003c/div\u003e","Metadata":{"BylineOverwrite":"Jost Bergmann, business director for multipurpose and general cargo ships, DNV","AuthorCompanyOrEventLink":null,"PaywallLocked":true,"FeatureImageCopyright":"AAL Shipping’s 32,000-dwt liner-type Super B-class multipurpose vessels are methanol-ready. Photo credit: AAL Shipping.","EventDate":null,"__typename":"Metadata"},"ModDate":"1731602895753","Taxonomy":{"MainCategory":[{"Id":"1","Name":"Maritime","Redirects":[{"Path":"/maritime","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"AdditionalCategories":[{"Id":"8","Name":"Breakbulk News","Redirects":[{"Path":"/maritime/breakbulk-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"29","Name":"Breakbulk carriers","Redirects":[{"Path":"/maritime/breakbulk-news/breakbulk-carriers","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"32","Name":"Heavy-haul transport","Redirects":[{"Path":"/maritime/breakbulk-news/heavy-haul-transport","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"33","Name":"Project cargo","Redirects":[{"Path":"/maritime/breakbulk-news/project-cargo","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"ContentType":"COMMENTARY","__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1731592754000","TitlePlainText":"MPV fuel challenge complicated by heavy and outsized cargoes","Published":true,"Redirects":[{"Path":"/article/mpv-fuel-challenge-complicated-by-heavy-and-outsized-cargoes-5817545","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eThe large fuel tanks needed for low-density alternative fuels could make them a non-starter for multipurpose vessels.\u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"The large fuel tanks needed for low-density alternative fuels could make them a non-starter for multipurpose vessels.","__typename":"Document"}],"topArticles":{"data":[{"Id":"5822957_JournalOfCommerce","Attachments":[{"FileName":"5822955_0.1.png","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyPlainText":"An investor group led by CEO Chris Jamroz is acquiring a majority stake in less-than-truckload (LTL) carrier Roadrunner. The deal, announced Friday, sets the stage for further organic growth and acquisitions by the direct point-to-point LTL trucking company at a time when the US LTL sector is preparing for expansion, building out networks and raising rates . The deal between Prospero Staff Capital, owned by Jamroz and partner Ted Kellner, a long-time investor in Roadrunner, leaves Elliott Investment Management with a minority stake in the Illinois-based company. Terms of the transaction were not disclosed. “After comprehensively unwinding the prior management’s roll-up strategy to get to a pure-play LTL network, Roadrunner now stands as a premium long-haul carrier,” Jamroz said in a statement. “Today marks the beginning of our growth phase, driven by new capital, strategic investments and acquisitions.” Activist investor Elliott acquired a majority stake in Roadrunner through a $540 million investment in 2017. Jamroz joined the company in 2019; Prospero is part of his investment company, LyonIX Holdings. Roadrunner is the 20th-largest LTL provider in the US and Canada, with about $410 million in revenue in 2023, according to SJ Consulting Group data. Merger activity is picking up speed among smaller LTL carriers , which could provide several targets for Roadrunner in markets where it wants to grow. The US LTL sector as a whole is in the midst of a growth phase kicked off by the exit of Yellow, then the third-largest LTL provider, from the market in July 2023. That sharply reduced LTL capacity, which enabled carriers to raise pricing despite tepid freight demand. Yellow’s collapse also launched an ongoing land rush as LTL carriers battle for terminals. Yellow is preparing to sell its remaining 112 terminals, including some of its largest sites, in a move that will release pent-up LTL capacity. Roadrunner played a small part in that land rush, rebuilding a terminal formerly leased by Yellow in Atlanta as a new regional hub. Roadrunner has put more focus on reducing transit times in hundreds of lanes to meet shipper demand for faster service. In October, the company accelerated shipments in more than 200 lanes and opened more than 40 new lanes. Contact William B. Cassidy at bill.cassidy@spglobal.com .","BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eAn investor group led by CEO Chris Jamroz is acquiring a majority stake in less-than-truckload (LTL) carrier Roadrunner. The deal, announced Friday, sets the stage for further organic growth and acquisitions by the direct point-to-point LTL trucking company at a time when the US LTL sector is preparing for expansion, building out networks \u003ca href=\"https://www.joc.com/article/us-ltl-carriers-laying-groundwork-for-higher-pricing-in-2025-5822094\"\u003eand raising rates\u003c/a\u003e. \u003c/p\u003e\u003cp\u003eThe deal between Prospero Staff Capital, owned by Jamroz and partner Ted Kellner, a long-time investor in Roadrunner, leaves Elliott Investment Management with a minority stake in the Illinois-based company. Terms of the transaction were not disclosed. \u003c/p\u003e\u003cp\u003e“After comprehensively unwinding the prior management’s roll-up strategy to get to a pure-play LTL network, Roadrunner now stands as a premium long-haul carrier,” Jamroz said in a statement. “Today marks the beginning of our growth phase, driven by new capital, strategic investments and acquisitions.” \u003c/p\u003e\u003cp\u003eActivist investor Elliott acquired a majority stake in Roadrunner through a \u003ca href=\"https://www.joc.com/article/roadrunner-gets-540-million-infusion-new-leadership-5195821\"\u003e$540 million investment\u003c/a\u003e in 2017. Jamroz joined the company in 2019; Prospero is part of his investment company, LyonIX Holdings. \u003c/p\u003e\u003cp\u003eRoadrunner is the 20th-largest LTL provider in the US and Canada, with about $410 million in revenue in 2023, according to SJ Consulting Group data. \u003c/p\u003e\u003cp\u003eMerger activity is picking up speed \u003ca href=\"https://www.joc.com/article/smaller-us-ltl-carriers-increasingly-merging-in-sink-or-swim-market-5783875\"\u003eamong smaller LTL carriers\u003c/a\u003e, which could provide several targets for Roadrunner in markets where it wants to grow. \u003c/p\u003e\u003cp\u003eThe US LTL sector as a whole is in the midst of a growth phase kicked off by the exit of Yellow, then the third-largest LTL provider, from the market in July 2023. That sharply reduced LTL capacity, which enabled carriers to raise pricing despite tepid freight demand. Yellow’s collapse also launched an ongoing land rush as LTL carriers battle for terminals. \u003c/p\u003e\u003cp\u003eYellow is \u003ca href=\"https://www.joc.com/article/yellow-puts-remaining-112-ltl-terminals-on-the-block-5737425\"\u003epreparing to sell\u003c/a\u003e its remaining 112 terminals, including some of its largest sites, in a move that will release pent-up LTL capacity. Roadrunner played a small part in that land rush, rebuilding a terminal formerly leased by Yellow in Atlanta as a new regional hub. \u003c/p\u003e\u003cp\u003eRoadrunner has put more focus on reducing transit times in hundreds of lanes to meet shipper demand for faster service. In October, the company accelerated shipments in more than 200 lanes and opened more than 40 new lanes. \u003c/p\u003e\u003cp\u003e\u003ci\u003eContact William B. Cassidy at \u003c/i\u003e\u003ca href=\"mailto:bill.cassidy@spglobal.com\"\u003e\u003ci\u003ebill.cassidy@spglobal.com\u003c/i\u003e\u003c/a\u003e.\u003c/p\u003e\u003c/div\u003e","Metadata":{"BylineOverwrite":null,"AuthorCompanyOrEventLink":null,"PaywallLocked":true,"FeatureImageCopyright":"Roadrunner plans faster expansion under its new ownership, including acquisitions and organic growth. Photo credit: Roadrunner.","__typename":"Metadata"},"ModDate":"1732310055137","Taxonomy":{"MainCategory":[{"Id":"2","Name":"Surface","Redirects":[{"Path":"/surface","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"AdditionalCategories":[{"Id":"11","Name":"Trucking News","Redirects":[{"Path":"/surface/trucking-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"46","Name":"LTL","Redirects":[{"Path":"/surface/trucking-news/ltl","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"William B. Cassidy, Senior Editor","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1732307053000","TitlePlainText":"Investors plan to expand US LTL carrier Roadrunner after takeover","Published":true,"Redirects":[{"Path":"/article/investors-plan-to-expand-us-ltl-carrier-roadrunner-after-takeover-5822957","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eThe acquisition of a majority stake in Roadrunner by an investment group sets the stage for further growth at the carrier as the LTL sector readies for expansion in 2025. \u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"The acquisition of a majority stake in Roadrunner by an investment group sets the stage for further growth at the carrier as the LTL sector readies for expansion in 2025.","__typename":"Document"},{"Id":"5822904_JournalOfCommerce","Attachments":[{"FileName":"5822886_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyPlainText":"US retailers are telling investors that after successfully managing the three-day port strike along the East and Gulf coasts in early October, they’re prepared to navigate whatever operational challenges arise from the higher tariffs on Chinese goods that President-elect Donald Trump has promised for his second term. Ralph Lauren, Williams Sonoma and Target, during their respective third-quarter earnings calls, highlighted how they diverted cargoes to West Coast ports ahead of the Oct. 1 expiration of the labor contract between the International Longshoremen’s Association (ILA) and maritime employers. Ralph Lauren said it tapped air cargo transport in the days before the strike to ensure it had key products on hand. Following the tentative deal that ended the brief strike, the three retailers said they are now monitoring developments ahead of the Jan. 15 expiration of that extended pact. ILA last week announced it pulled out of negotiations over what it said was a desire by employers to introduce semi-automated equipment at marine terminals. The cargo diversions to the West Coast “came at a cost, but allowed us to be well-positioned for our guests through the strike and into the holiday season,” Target CFO Michael Fiddelke said during a Nov. 20 earnings call. ”Thankfully, the strike was short-lived,” he added. “We’ll continue to watch the situation closely in the lead up to continued negotiations in January.” US inventories in comparison to sales have risen this fall as shippers experience an extended peak season highlighted by frontloading linked to renewed ILA strike threats, the anticipation of higher US tariffs on Chinese retail imports and a shorter post-holiday period due to an earlier Lunar New Year. Retail inventories rising The ratio of US retail inventories to sales climbed to 1.42 in September from 1.27 in August, according to US Census Bureau data. The 1.42 level, also observed in February 2023 and February 2021, is the highest since 1.69 in April 2020 at the outset of the pandemic. Facing Trump’s threat of tariffs on Chinese goods of more than 60%, retailers took pains on earnings calls to stress the limits of their exposure to Chinese sourcing because of multiyear preparation to diversify away from the world’s largest factory. Williams Sonoma has mapped out its various product lines and will evaluate sourcing by tariffs levels and alternatives, CFO Jeff Howie told investors Wednesday. The high-end home furnishing retailer can also lean on domestic manufacturing plants in North Carolina, Mississippi and Oregon, and will considering front-loading some goods from China early next year to avoid tariffs, he said. ”I just want to remind everyone that it’s not our first time at this,” Howie said. “We’ve always been a leader and proactively responded to changes in the trade environment. ”There’s a lot of change since the last time this came up,” he added. “We’ve significantly reduced our China-sourced goods from 50% to 25% over the last few years.” Lowe’s has been working its suppliers in recent years to diversify away from China, giving it confidence that the company can handle “whatever it is that gets thrown as us,” said Bill Boltz, the company’s executive vice president of merchandising. Contact Mark Szakonyi at mark.szakonyi@spglobal.com .","BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eUS retailers are telling investors that after successfully managing the three-day port strike along the East and Gulf coasts in early October, they’re prepared to navigate whatever operational challenges arise from the higher tariffs on Chinese goods that President-elect Donald Trump has promised for his second term. \u003c/p\u003e\u003cp\u003eRalph Lauren, Williams Sonoma and Target, during their respective third-quarter earnings calls, highlighted how they diverted cargoes to West Coast ports ahead of the Oct. 1 expiration of the labor contract between the International Longshoremen’s Association (ILA) and maritime employers. Ralph Lauren said it tapped air cargo transport in the days before the strike to ensure it had key products on hand. \u003c/p\u003e\u003cp\u003eFollowing the tentative deal that ended the brief strike, the three retailers said they are now monitoring developments ahead of the Jan. 15 expiration of that extended pact. ILA last week announced it \u003ca href=\"https://www.joc.com/article/ila-breaks-off-contract-talks-accuses-usmx-of-semi-automation-push-5810392\"\u003epulled out of negotiations\u003c/a\u003e over what it said was a desire by employers to introduce semi-automated equipment at marine terminals. \u003c/p\u003e\u003cp\u003eThe cargo diversions to the West Coast “came at a cost, but allowed us to be well-positioned for our guests through the strike and into the holiday season,” Target CFO Michael Fiddelke said during a Nov. 20 earnings call. \u003c/p\u003e\u003cp\u003e”Thankfully, the strike was short-lived,” he added. “We’ll continue to watch the situation closely in the lead up to continued negotiations in January.” \u003c/p\u003e\u003cp\u003eUS inventories in comparison to sales have risen this fall as shippers experience an extended peak season highlighted by frontloading linked to renewed ILA strike threats, the \u003ca href=\"https://www.joc.com/article/us-importers-dabbling-in-frontloading-ahead-of-new-tariff-threat-5821448\"\u003eanticipation of higher US tariffs\u003c/a\u003e on Chinese retail imports and a shorter post-holiday period due to an earlier Lunar New Year. \u003c/p\u003e\u003ch3\u003eRetail inventories rising\u003c/h3\u003e\u003cp\u003e\u003c/p\u003e\u003cp\u003eThe ratio of US retail inventories to sales climbed to 1.42 in September from 1.27 in August, according to US Census Bureau data. The 1.42 level, also observed in February 2023 and February 2021, is the highest since 1.69 in April 2020 at the outset of the pandemic.\u003c/p\u003e\u003cp\u003eFacing Trump’s threat of tariffs on Chinese goods of more than 60%, retailers took pains on earnings calls to stress the limits of their exposure to Chinese sourcing because of multiyear preparation to diversify away from the world’s largest factory. \u003c/p\u003e\u003cp\u003eWilliams Sonoma has mapped out its various product lines and will evaluate sourcing by tariffs levels and alternatives, CFO Jeff Howie told investors Wednesday. The high-end home furnishing retailer can also lean on domestic manufacturing plants in North Carolina, Mississippi and Oregon, and will considering front-loading some goods from China early next year to avoid tariffs, he said. \u003c/p\u003e\u003cp\u003e”I just want to remind everyone that it’s not our first time at this,” Howie said. “We’ve always been a leader and proactively responded to changes in the trade environment. \u003c/p\u003e\u003cp\u003e”There’s a lot of change since the last time this came up,” he added. “We’ve significantly reduced our China-sourced goods from 50% to 25% over the last few years.” \u003c/p\u003e\u003cp\u003eLowe’s has been working its suppliers in recent years to diversify away from China, giving it confidence that the company can handle “whatever it is that gets thrown as us,” said Bill Boltz, the company’s executive vice president of merchandising. \u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Mark Szakonyi at \u003c/i\u003e\u003ca href=\"mailto:mark.szakonyi@spglobal.com\"\u003e\u003ci\u003emark.szakonyi@spglobal.com\u003c/i\u003e\u003c/a\u003e\u003ci\u003e.\u003c/i\u003e \u003c/p\u003e\u003c/div\u003e","Metadata":{"BylineOverwrite":null,"AuthorCompanyOrEventLink":null,"PaywallLocked":true,"FeatureImageCopyright":"US inventories in comparison with sales have risen this fall as shippers prepare for extended peak season, strike and tariff threats, and a shorter post-holiday period due to an earlier Lunar New Year. Photo credit: Alvarez / Getty Images. ","__typename":"Metadata"},"ModDate":"1732306387943","Taxonomy":{"MainCategory":[{"Id":"9","Name":"Container Shipping News","Redirects":[{"Path":"/maritime/container-shipping-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"AdditionalCategories":[{"Id":"4","Name":"Supply chain","Redirects":[{"Path":"/supply-chain","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"10","Name":"Port News","Redirects":[{"Path":"/maritime/port-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"16","Name":"Transport, Trade and Regulation News","Redirects":[{"Path":"/supply-chain/transport-trade-and-regulation-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"38","Name":"Trans-Pacific","Redirects":[{"Path":"/maritime/container-shipping-news/trans-pacific","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"Mark Szakonyi, Executive Editor","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1732305202000","TitlePlainText":"US retailers prepare for new ILA strike threat, tariffs on China imports","Published":true,"Redirects":[{"Path":"/article/us-retailers-prepare-for-new-ila-strike-threat-tariffs-on-china-imports-5822904","__typename":"Redirect"},{"Path":"/article/us-retailers-prepare-for-ila-new-strike-threat-tariffs-on-china-imports-5822904","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eMajor retailers such as Ralph Lauren and Target say they successfully mitigated disruptions from the early October port strike and are ready for the next labor threat and the fallout from likely higher tariffs on Chinese goods. \u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"Major retailers such as Ralph Lauren and Target say they successfully mitigated disruptions from the early October port strike and are ready for the next labor threat and the fallout from likely higher tariffs on Chinese goods.","__typename":"Document"},{"Id":"5822094_JournalOfCommerce","Attachments":[{"FileName":"5822090_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyPlainText":"US less-than-truckload (LTL) carriers are laying the groundwork for higher pricing in 2025, well before higher freight volumes hit their docks. Several of the largest LTL carriers in recent weeks have released average general rate increases (GRIs) for 2025 ranging from the mid- to upper single digits. The GRIs are for non-contract business, but they set expectations for contract pricing in 2025. Old Dominion Freight Line set the base with a 4.9% GRI announced Monday that will take effect Dec. 2. FedEx Freight earlier announced a 5.9% GRI effective Jan. 6, while TForce Freight, the former UPS Freight, raised its LTL rates 5.9% on average in October. The biggest GRI came from Saia, which raised rates 7.9% on average in October. That GRI matched the average rate increase Saia claims it is getting in contract renewals. “We’ve got to really continue to focus on pricing,” Saia President and CEO Frederick J. Holzgrefe told Wall Street analysts during Saia’s third-quarter earnings call last month. “The rates have got to go up across the board in all elements of the business.” Higher rates and revenue are needed to support the ongoing expansion of terminal networks and to keep pace with operating costs, carrier executives say. Saia, for example, will spend $1 billion this year on real estate, employees, equipment and technology. Shippers have told the Journal of Commerce they expect LTL costs to rise in 2025, but not as steeply as some carriers anticipate. But shippers may be surprised. Costing, pricing discipline Before the 2008-2009 Great Recession, GRIs often were whittled down in contract negotiations, especially in years when the market was soft. That’s less likely to happen today. “Now it’s all about measuring profitability, not just putting freight on trucks” to gain market share, said Dean Jones, chief commercial officer of AFS Logistics, a third-party logistics company that offers LTL cost management and other services. LTL carriers are not only disciplined when it comes to pricing, resisting rate discounting, but they’re also more disciplined in their approach to costing, Jones said in an interview. “The carrier pricing teams are way more sophisticated than they’ve ever been,” he said. “All their costing models for every contractual customer will be run with their GRIs. They know exactly what they need to make the margins they want lane by lane.” The GRIs, he pointed out, are averages, which means some shippers will pay less and others more. “They know who’s a good client and who’s a bad client, who delays shipments and who expedites them,” Jones said. In many ways, LTL carriers are taking pages from the playbook of Old Dominion, which pioneered a cost- and profitability-based approach to LTL pricing . Companies that didn’t adopt some version of that approach and relied on lower rates to draw shippers and freight have failed, from Yellow to Central Freight Lines . Looking beyond rates But LTL trucking companies aren’t relying on higher rates alone to grow revenue. They’re expanding their use of accessorial charges, tinkering with fuel surcharges, adding premium-priced services and using technology to reach new customers. They’re also using dimensioning equipment on docks and forklifts to check and double-check shipment dimensions to ensure freight is correctly classified and priced. The LTL sector is cribbing pages from the playbook used by parcel companies, Jones said. “We never used to see remote delivery charges in LTL, and now LTL carriers are doing that,” he said. “Like the parcel carriers, if it costs them more to deliver, they’re going to charge more.” Accessorial charges are also being used to change shipper behavior. During the COVID-19 pandemic, LTL carriers with congested terminals introduced higher surcharges for shipments that exceeded length limits; those surcharges remain in place. FedEx Freight, for example, has an extreme length surcharge that runs from $672 to $1,430 per shipment depending on the length of the shipment. “At first people thought it was a fad, but today every LTL carrier doesn’t want anything over 8 feet in length,” Jones said. What they do want is palletized, stackable freight that will efficiently fill trailers. Shippers have told the Journal of Commerce that LTL carriers are increasingly willing to turn away freight that doesn’t match their requirements — or charge much higher rates to haul it. The cumulative result of all these strategies will be higher LTL costs to shippers, but also pricing that is more closely based on the actual cost to move freight. And while accessorial fees may be added or raised, “the place to move the needle the most is the base rates,” Jones said. “The carriers that are more focused on the larger picture are going to go after the line-haul rates.” Contact William B. Cassidy at bill.cassidy@spglobal.com .","BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eUS less-than-truckload (LTL) carriers are laying the groundwork for higher pricing in 2025, well before higher freight volumes hit their docks. \u003c/p\u003e\u003cp\u003eSeveral of the largest LTL carriers in recent weeks have released average general rate increases (GRIs) for 2025 ranging from the mid- to upper single digits. The GRIs are for non-contract business, but they set expectations for contract pricing in 2025. \u003c/p\u003e\u003cp\u003eOld Dominion Freight Line set the base with a 4.9% GRI announced Monday that will take effect Dec. 2. FedEx Freight earlier announced a 5.9% GRI effective Jan. 6, while TForce Freight, the former UPS Freight, raised its LTL rates 5.9% on average in October. \u003c/p\u003e\u003cdiv class=\"wrapper-narrow\"\u003e\u003cdynamic-object type=\"jocchartid\" resource-id=\"4a956aa9-0f8d-4079-ab21-88b58ab2775a\"\u003e\u003c/dynamic-object\u003e\u003c/div\u003e\u003cp\u003eThe biggest GRI came from Saia, which raised rates 7.9% on average in October. That GRI matched the average rate increase Saia claims it is getting in contract renewals. \u003c/p\u003e\u003cp\u003e“We’ve got to really continue to focus on pricing,” Saia President and CEO Frederick J. Holzgrefe told Wall Street analysts during Saia’s third-quarter earnings call last month. “The rates have got to go up across the board in all elements of the business.” \u003c/p\u003e\u003cp\u003eHigher rates and revenue are needed to support the \u003ca href=\"https://www.joc.com/article/yellow-puts-remaining-112-ltl-terminals-on-the-block-5737425\"\u003eongoing expansion of terminal networks\u003c/a\u003e and to keep pace with operating costs, carrier executives say. Saia, for example, will spend $1 billion this year on real estate, employees, equipment and technology. \u003c/p\u003e\u003cp\u003eShippers have told the \u003ci\u003eJournal of Commerce\u003c/i\u003e they expect LTL costs to rise in 2025, but not as steeply as some carriers anticipate. But shippers may be surprised. \u003c/p\u003e\u003ch3\u003eCosting, pricing discipline \u003c/h3\u003e\u003cp\u003eBefore the 2008-2009 Great Recession, GRIs often were whittled down in contract negotiations, especially in years when the market was soft. That’s less likely to happen today. \u003c/p\u003e\u003cp\u003e“Now it’s all about measuring profitability, not just putting freight on trucks” to gain market share, said Dean Jones, chief commercial officer of AFS Logistics, a third-party logistics company that offers LTL cost management and other services.\u003c/p\u003e\u003cp\u003eLTL carriers are not only disciplined when it comes to pricing, resisting rate discounting, but they’re also more disciplined in their approach to costing, Jones said in an interview. \u003c/p\u003e\u003cp\u003e“The carrier pricing teams are way more sophisticated than they’ve ever been,” he said. “All their costing models for every contractual customer will be run with their GRIs. They know exactly what they need to make the margins they want lane by lane.” \u003c/p\u003e\u003cp\u003eThe GRIs, he pointed out, are averages, which means some shippers will pay less and others more. “They know who’s a good client and who’s a bad client, who delays shipments and who expedites them,” Jones said. \u003c/p\u003e\u003cp\u003eIn many ways, LTL carriers are taking pages from the playbook of Old Dominion, which pioneered a cost- and profitability-based \u003ca href=\"https://www.joc.com/article/qa-david-congdon-old-dominion-freight-line-5196932\"\u003eapproach to LTL pricing\u003c/a\u003e. \u003c/p\u003e\u003cp\u003eCompanies that didn’t adopt some version of that approach and relied on lower rates to draw shippers and freight have failed, from Yellow to \u003ca href=\"https://www.joc.com/article/central-freight-shutdown-adds-to-ltl-pressure-5206107\"\u003eCentral Freight Lines\u003c/a\u003e. \u003c/p\u003e\u003ch3\u003eLooking beyond rates \u003c/h3\u003e\u003cp\u003eBut LTL trucking companies aren’t relying on higher rates alone to grow revenue. They’re expanding their use of accessorial charges, tinkering with fuel surcharges, adding premium-priced services and using technology to reach new customers. \u003c/p\u003e\u003cp\u003eThey’re also using dimensioning equipment on docks and forklifts to check and double-check shipment dimensions to ensure freight is correctly classified and priced. \u003c/p\u003e\u003cp\u003eThe LTL sector is cribbing pages from the playbook used by parcel companies, Jones said. \u003c/p\u003e\u003cp\u003e “We never used to see remote delivery charges in LTL, and now LTL carriers are doing that,” he said. “Like the parcel carriers, if it costs them more to deliver, they’re going to charge more.” \u003c/p\u003e\u003cp\u003eAccessorial charges are also being used to change shipper behavior. During the COVID-19 pandemic, LTL carriers with congested terminals introduced higher surcharges for shipments that exceeded length limits; those surcharges remain in place. \u003c/p\u003e\u003cp\u003eFedEx Freight, for example, has an extreme length surcharge that runs from $672 to $1,430 per shipment depending on the length of the shipment. “At first people thought it was a fad, but today every LTL carrier doesn’t want anything over 8 feet in length,” Jones said. \u003c/p\u003e\u003cp\u003eWhat they do want is palletized, stackable freight that will efficiently fill trailers. Shippers have told the \u003ci\u003eJournal of Commerce\u003c/i\u003e that LTL carriers are increasingly willing to turn away freight that doesn’t match their requirements — or charge much higher rates to haul it. \u003c/p\u003e\u003cp\u003eThe cumulative result of all these strategies will be higher LTL costs to shippers, but also pricing that is more closely based on the actual cost to move freight. \u003c/p\u003e\u003cp\u003eAnd while accessorial fees may be added or raised, “the place to move the needle the most is the base rates,” Jones said. “The carriers that are more focused on the larger picture are going to go after the line-haul rates.” \u003c/p\u003e\u003cp\u003e\u003ci\u003eContact William B. Cassidy at \u003c/i\u003e\u003ca href=\"mailto:bill.cassidy@spglobal.com\"\u003e\u003ci\u003ebill.cassidy@spglobal.com\u003c/i\u003e\u003c/a\u003e. \u003c/p\u003e\u003c/div\u003e","Metadata":{"BylineOverwrite":null,"AuthorCompanyOrEventLink":null,"PaywallLocked":true,"FeatureImageCopyright":"US LTL companies look to drive revenue through rate increases and accessorial charges as they anticipate stronger growth in 2025. Photo credit: Wirestock Creators / Shutterstock.com.","__typename":"Metadata"},"ModDate":"1732220671430","Taxonomy":{"MainCategory":[{"Id":"2","Name":"Surface","Redirects":[{"Path":"/surface","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"AdditionalCategories":[{"Id":"11","Name":"Trucking News","Redirects":[{"Path":"/surface/trucking-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"46","Name":"LTL","Redirects":[{"Path":"/surface/trucking-news/ltl","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"William B. Cassidy, Senior Editor","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1732216106000","TitlePlainText":"US LTL carriers laying groundwork for higher pricing in 2025","Published":true,"Redirects":[{"Path":"/article/us-ltl-carriers-laying-groundwork-for-higher-pricing-in-2025-5822094","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eGeneral rate increases ranging from 4.9% to 7.9% are setting expectations for higher contract pricing as less-than-truckload carriers attempt to recoup the costs of network expansion. \u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"General rate increases ranging from 4.9% to 7.9% are setting expectations for higher contract pricing as less-than-truckload carriers attempt to recoup the costs of network expansion.","__typename":"Document"},{"Id":"5817574_JournalOfCommerce","Attachments":[{"FileName":"5817573_0.1.jpg","FileType":"Nondownloadable","Title":null,"__typename":"Attachment"},{"FileName":"5817572_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyPlainText":"Following President Joe Biden’s intervention in October to end the brief strike at East and Gulf coast ports , US longshore labor negotiations can no longer be seen through a traditional lens. The precedent now firmly established is that politics will prevail over the traditional give-and-take at the negotiating table. A traditional lens on the current scenario, following the suspension of talks again by the International Longshoremen’s Association (ILA) on Wednesday , would show labor and management dug in with few evident pathways to bridge the gap and the real possibility of another strike as of Jan. 15. Management’s fundamental view is that given minimal physical additions to US port capacity, efficiency gains through automation — starting with contractual rights — are required to move growing volumes through existing facilities. Although no current union jobs would be placed at risk, the union sees automation as a threat to its nearly 150-year-old franchise and is intent on rolling back the limited right of terminal operators to automate under the existing contract. The union suspended further talks this week over that issue, with management, represented by the United States Maritime Alliance (USMX), stating the union is intent on “restricting future use of technology that has existed in some of our ports for nearly two decades.” But the real question is: Does it matter? Is the economic rationale for greater port efficiency relevant in terms of how decisions will get made over the coming few months? Does it matter that US ports appear nowhere in the top 50 of the Container Port Performance Index , a data set developed by the Journal of Commerce, and that costly bottlenecks are a frequent occurrence at US ports? Conversations the Journal of Commerce has had with multiple sources close to the negotiations say with a Republican, pro-business administration coming into power on Jan. 20 and anti-union figures including Elon Musk advising President-elect Donald Trump, management may have more leverage in the negotiations than they did in October. But sources admit the possibility cannot be ruled out that management’s position is, in fact, no stronger than it was. In other words, even as the White House changes hands, the outcome will be the same as it was in October — presidential intervention in favor of the union irrespective of the costs to the industry and the economy. The carriers being on the losing end was precisely what happened in October. The USMX and its ocean carrier members were all but forced by the White House to agree to a 62% pay increase for dockworkers over six years in a preliminary settlement on the wage issue. The “deal” ended the strike after three days and took the issue off the table as a dangerous campaign factor for Democrats. Little apparent leverage for management This time, the campaign is no longer a factor, but the new administration will likely be similarly disinterested in a strike of any significant length and, it can be assumed, will get directly involved, following precedent set by a series of presidents going back to George W. Bush, who acted to end a 10-day lockout of West Coast dockworkers in 2002. What does the incoming President-elect Trump do? Reject the views of blue-collar workers — a core Trump constituency — and a union that did him a favor during the campaign by withholding an endorsement of his opponent, as it had given to Biden in 2020? Having met with Trump late last year, documented in a photo widely spread on social media, ILA President Harold Daggett said in a social media post that “President Trump promised to support the ILA in its opposition to automated terminals in the US,” a statement that can hardly be written off. If Trump is all too willing to raise the costs of trade via tariffs, the reasoning goes, why would he be concerned about inefficiency at ports? That is why some close to the negotiations believe USMX will ultimately agree to the union’s demands, including agreeing to its terms on automation. The result would be avoiding a strike, or at the very least a lengthy one, and averting another White House showdown management had no chance of winning in October and could have no chance of winning in January. “The employers in the end are likely to agree to language that effectively bans new automation for the life of the contract,” a knowledgeable source told the Journal of Commerce. “The employers will want to put this contract behind them and prioritize strategy for future negotiations in hopes of avoiding a repeat of what happened just before the presidential election.” Ocean carriers, for whom the US is an important market, have traditionally sought to maintain a low profile, knowing they are foreign entities and politically speaking have few friends in Washington, as was seen when the Ocean Shipping Reform Act of 2022 (OSRA-22) was signed into law over their objections. That thinking appears to be part of the union’s calculus that, at the moment, it holds all the cards and if so, why not seize the day in seeking to not just prevent an expansion of automation, but to roll back employers’ existing automation rights? Under that scenario, USMX would live to fight another day and likely take the next few years to re-tool in a bid to fare better in future negotiations. Contact Peter Tirschwell at peter.tirschwell@spglobal.com .","BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eFollowing President Joe Biden’s intervention in October \u003ca href=\"https://www.joc.com/article/ila-usmx-agree-on-new-wage-offer-and-contract-extension-that-reopens-ports-5741882\"\u003eto end the brief strike at East and Gulf coast ports\u003c/a\u003e, US longshore labor negotiations can no longer be seen through a traditional lens. The precedent now firmly established is that politics will prevail over the traditional give-and-take at the negotiating table. \u003c/p\u003e\u003cdiv class=\"wrapper-narrow float-right-element\"\u003e\u003cimg src=\"/images/phoenix/5817573_0.1.jpg\"\u003e\u003c/img\u003e\u003c/div\u003e\u003cp\u003eA traditional lens on the current scenario, \u003ca href=\"https://www.joc.com/article/ila-breaks-off-contract-talks-accuses-usmx-of-semi-automation-push-5810392\"\u003efollowing the suspension of talks again by the International Longshoremen’s Association (ILA) on Wednesday\u003c/a\u003e, would show labor and management dug in with few evident pathways to bridge the gap and the real possibility of another strike as of Jan. 15. \u003c/p\u003e\u003cp\u003eManagement’s fundamental view is that given minimal physical additions to US port capacity, efficiency gains through automation — starting with contractual rights — are required to move growing volumes through existing facilities. Although no current union jobs would be placed at risk, the union sees automation as a threat to its nearly 150-year-old franchise and is intent on rolling back the limited right of terminal operators to automate under the existing contract. \u003c/p\u003e\u003cp\u003eThe union suspended further talks this week over that issue, with management, represented by the United States Maritime Alliance (USMX), stating the union is intent on “restricting future use of technology that has existed in some of our ports for nearly two decades.” \u003c/p\u003e\u003cp\u003eBut the real question is: Does it matter? Is the economic rationale for greater port efficiency relevant in terms of how decisions will get made over the coming few months? Does it matter that US ports appear nowhere in the top 50 of the \u003ca href=\"https://www.worldbank.org/en/news/press-release/2024/06/01/regional-disruptions-drive-changes-in-global-container-port-performance-ranking\"\u003eContainer Port Performance Index\u003c/a\u003e, a data set developed by the \u003ci\u003eJournal of Commerce\u003c/i\u003e, and that costly bottlenecks are a frequent occurrence at US ports? \u003c/p\u003e\u003cp\u003eConversations the \u003ci\u003eJournal of Commerce\u003c/i\u003e has had with multiple sources close to the negotiations say with a Republican, pro-business administration coming into power on Jan. 20 and anti-union figures including Elon Musk advising President-elect Donald Trump, management may have more leverage in the negotiations than they did in October. \u003c/p\u003e\u003cp\u003eBut sources admit the possibility cannot be ruled out that management’s position is, in fact, no stronger than it was. In other words, even as the White House changes hands, the outcome will be the same as it was in October — presidential intervention in favor of the union irrespective of the costs to the industry and the economy. \u003c/p\u003e\u003cp\u003eThe carriers being on the losing end was precisely what happened in October. The USMX and its ocean carrier members were \u003ca href=\"https://www.joc.com/article/behind-the-scenes-white-house-arm-twisting-got-ila-wage-deal-done-5747241\"\u003eall but forced by the White House\u003c/a\u003e to agree to a 62% pay increase for dockworkers over six years in a preliminary settlement on the wage issue. The “deal” ended the strike after three days and took the issue off the table as a dangerous campaign factor for Democrats. \u003c/p\u003e\u003ch3\u003eLittle apparent leverage for management \u003c/h3\u003e\u003cp\u003eThis time, the campaign is no longer a factor, but the new administration will likely be similarly disinterested in a strike of any significant length and, it can be assumed, will get directly involved, following precedent set by a series of presidents going back to George W. Bush, who acted to end a 10-day lockout of West Coast dockworkers in 2002. \u003c/p\u003e\u003cp\u003eWhat does the incoming President-elect Trump do? Reject the views of blue-collar workers — a core Trump constituency — and a union that did him a favor during the campaign by withholding an endorsement of his opponent, as it had given to Biden in 2020? \u003c/p\u003e\u003cp\u003eHaving met with Trump late last year, documented in a photo widely spread on social media, ILA President Harold Daggett said in a social media post that “President Trump promised to support the ILA in its opposition to automated terminals in the US,” a statement that can hardly be written off. If Trump is all too willing to raise the costs of trade via tariffs, the reasoning goes, why would he be concerned about inefficiency at ports? \u003c/p\u003e\u003cp\u003eThat is why some close to the negotiations believe USMX will ultimately agree to the union’s demands, including agreeing to its terms on automation. The result would be avoiding a strike, or at the very least a lengthy one, and averting another White House showdown management had no chance of winning in October and could have no chance of winning in January. \u003c/p\u003e\u003cp\u003e“The employers in the end are likely to agree to language that effectively bans new automation for the life of the contract,” a knowledgeable source told the \u003ci\u003eJournal of Commerce\u003c/i\u003e. “The employers will want to put this contract behind them and prioritize strategy for future negotiations in hopes of avoiding a repeat of what happened just before the presidential election.” \u003c/p\u003e\u003cp\u003eOcean carriers, for whom the US is an important market, have traditionally sought to maintain a low profile, knowing they are foreign entities and politically speaking have few friends in Washington, as was seen when the Ocean Shipping Reform Act of 2022 (OSRA-22) was signed into law over their objections. \u003c/p\u003e\u003cp\u003eThat thinking appears to be part of the union’s calculus that, at the moment, it holds all the cards and if so, why not seize the day in seeking to not just prevent an expansion of automation, but to roll back employers’ existing automation rights? \u003c/p\u003e\u003cp\u003eUnder that scenario, USMX would live to fight another day and likely take the next few years to re-tool in a bid to fare better in future negotiations. \u003c/p\u003e\u003cp\u003e \u003ci\u003eContact Peter Tirschwell at \u003c/i\u003e\u003ca href=\"mailto:peter.tirschwell@spglobal.com\"\u003e\u003ci\u003epeter.tirschwell@spglobal.com\u003c/i\u003e\u003c/a\u003e\u003ci\u003e.\u003c/i\u003e \u003c/p\u003e\u003c/div\u003e","Metadata":{"BylineOverwrite":null,"AuthorCompanyOrEventLink":null,"PaywallLocked":false,"FeatureImageCopyright":"Some sources close to the ILA-USMX negotiations believe management will ultimately agree to the union’s demands, including agreeing to its terms on automation. Photo credit: ambient_pix / Shutterstock.com.","__typename":"Metadata"},"ModDate":"1732545074983","Taxonomy":{"MainCategory":[{"Id":"1","Name":"Maritime","Redirects":[{"Path":"/maritime","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"AdditionalCategories":[{"Id":"34","Name":"Container lines","Redirects":[{"Path":"/maritime/container-shipping-news/container-lines","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"42","Name":"North American ports","Redirects":[{"Path":"/maritime/port-news/north-american-ports","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"45","Name":"Longshore labor","Redirects":[{"Path":"/maritime/port-news/longshore-labor","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"Peter Tirschwell","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1731596954000","TitlePlainText":"New precedent established for politics to drive longshore union negotiations","Published":true,"Redirects":[{"Path":"/article/new-precedent-established-for-politics-to-drive-longshore-union-negotiations-5817574","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eWhile the presidential campaign is no longer a factor, the new Trump administration will likely be similarly disinterested in a strike of any significant length and, it can be assumed, will get directly involved in talks.\u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"While the presidential campaign is no longer a factor, the new Trump administration will likely be similarly disinterested in a strike of any significant length and, it can be assumed, will get directly involved in talks.","__typename":"Document"},{"Id":"5824318_JournalOfCommerce","Attachments":[{"FileName":"5824289_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyPlainText":"Maritime employers at the Port of Montreal will try yet again to reach a deal with dockworkers on a new contract with a mediator’s help, heading off a government-brokered deal that aims to end the coast-to-coast strife hitting Canada’s major ports. The Maritime Employers Association (MEA) said in a statement Monday that it and the Canadian Union of Public Employees (CUPE) Local 375 mutually agreed to engage in a 90-day mediation process in a bid to come to terms on a new collective bargaining agreement covering 1,300 longshore workers at the port . The MEA said the process will be led by Gilles Charland, “an experienced mediator with a good knowledge of the industry.” The decision to engage with a mediator comes after Labor Minister Steve MacKinnon ordered the MEA to end a lockout of Local 375 stemming from its ongoing work stoppages . The mediation process means both sides won’t have to submit to a government-appointed arbitrator, also ordered by MacKinnon. Whether mediation succeeds is far from certain, however. The MEA said last month that it has engaged in 35 mediation meetings with Local 375 since mid-2023, with no resolution. Montreal’s port effectively reopened on Nov. 16 following MacKinnon’s back-to-work order. MacKinnon’s order also covered the ports in British Columbia where longshore foremen have been in protracted contract talks with maritime employers over a new contract and work rules following a semi-automation project at a Vancouver-area marine terminal. Local 514 of the International Longshore and Warehouse Union, the foremen’s union, said it plans to challenge the constitutionality of MacKinnon’s request . Yet its members also followed the return-to-work order, allowing the ports of Vancouver and Prince Rupert to reopen. Contact Michael Angell at michael.angell@spglobal.com .","BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eMaritime employers at the Port of Montreal will try yet again to reach a deal with dockworkers on a new contract with a mediator’s help, heading off a government-brokered deal that aims to end the coast-to-coast strife hitting Canada’s major ports. \u003c/p\u003e\u003cp\u003eThe Maritime Employers Association (MEA) said in a statement Monday that it and the Canadian Union of Public Employees (CUPE) Local 375 mutually agreed to engage in a 90-day mediation process in a bid to come to terms on \u003ca href=\"https://www.joc.com/article/canadian-shippers-urge-ottawa-to-act-as-montreal-port-talks-hit-impasse-5241393\"\u003ea new collective bargaining agreement covering 1,300 longshore workers at the port\u003c/a\u003e. \u003c/p\u003e\u003cp\u003eThe MEA said the process will be led by Gilles Charland, “an experienced mediator with a good knowledge of the industry.” \u003c/p\u003e\u003cp\u003eThe decision to engage with a mediator comes after \u003ca href=\"\"\u003eLabor Minister Steve MacKinnon ordered the MEA to end a lockout of Local 375\u003c/a\u003e stemming from \u003ca href=\"https://www.joc.com/article/bc-montreal-ports-set-to-reopen-under-orders-from-canadas-labor-chief-5792214\"\u003eits ongoing work stoppages\u003c/a\u003e. The mediation process means both sides won’t have to submit to a government-appointed arbitrator, also ordered by MacKinnon. \u003c/p\u003e\u003cp\u003eWhether mediation succeeds is far from certain, however. The MEA said last month that it has engaged in 35 mediation meetings with Local 375 since mid-2023, with no resolution. \u003c/p\u003e\u003cp\u003eMontreal’s port effectively reopened on Nov. 16 following MacKinnon’s back-to-work order. \u003c/p\u003e\u003cp\u003eMacKinnon’s order also covered the ports in British Columbia where longshore foremen have been in protracted contract talks with maritime employers over a new contract and work rules following a semi-automation project at a Vancouver-area marine terminal. \u003c/p\u003e\u003cp\u003eLocal 514 of the International Longshore and Warehouse Union, the foremen’s union, said \u003ca href=\"https://www.joc.com/article/bc-ports-to-reopen-but-longshore-union-plans-challenge-to-back-to-work-order-5810473\"\u003eit plans to challenge the constitutionality of MacKinnon’s request\u003c/a\u003e. Yet its members also followed the return-to-work order, allowing the ports of Vancouver and Prince Rupert to reopen. \u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Michael Angell at \u003c/i\u003e\u003ca href=\"mailto:michael.angell@spglobal.com\"\u003e\u003ci\u003emichael.angell@spglobal.com\u003c/i\u003e\u003c/a\u003e. \u003c/p\u003e\u003c/div\u003e","Metadata":{"BylineOverwrite":null,"AuthorCompanyOrEventLink":null,"PaywallLocked":true,"FeatureImageCopyright":"Montreal’s Maritime Employers Association has already engaged in 35 mediation sessions with its main longshore union, to no avail. Photo credit: PatrickLauzon photographe / Shutterstock.com. ","__typename":"Metadata"},"ModDate":"1732633670390","Taxonomy":{"MainCategory":[{"Id":"42","Name":"North American ports","Redirects":[{"Path":"/maritime/port-news/north-american-ports","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"AdditionalCategories":[{"Id":"9","Name":"Container Shipping News","Redirects":[{"Path":"/maritime/container-shipping-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"43","Name":"Marine terminals","Redirects":[{"Path":"/maritime/port-news/marine-terminals","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"45","Name":"Longshore labor","Redirects":[{"Path":"/maritime/port-news/longshore-labor","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"Michael Angell, Senior Editor","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1732573455000","TitlePlainText":"Montreal port employers, union agree to mediation in talks for new contract","Published":true,"Redirects":[{"Path":"/article/montreal-port-employers-union-agree-to-mediation-in-talks-for-new-contract-5824318","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eThe move effectively allows both sides to avoid having to agree to a deal brokered by Ottawa, as had been ordered by the country’s labor minister. \u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"The move effectively allows both sides to avoid having to agree to a deal brokered by Ottawa, as had been ordered by the country’s labor minister.","__typename":"Document"}]},"horizontalProms":[{"Id":"6fd7d8c6-c7b6-4e45-b088-acbc93a4175c","Name":"Upgrade Subscription - Wide Box","Description":"Upgrade Subscription - Wide Box","Body":"Use code BF24W695 at checkout and upgrade to Gold for just $695! 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Gold ","Description":"20% discount to TPM for Gold subscribers","Body":"20% OFF ON TPM25: Register today and redeem your Gold subscriber discount!","Title":"20% OFF ON TPM25","PromotionType":"OFFERBOX","ButtonLink":"https://events.joc.com/tpm/index.html","ButtonOpenInNewWindow":true,"ButtonText":"Register Now","CardLink":"","Icon":null,"Published":true,"PublishingStart":"1726837583122","PublishingEnd":"1740805140122","SubscriberLevel":["Gold"],"CloseDelay":null,"DisplayDelay":null,"DisplayPerSession":null,"Taxonomies":[],"TargetUrls":[],"Position":null,"FeatureImageId":null,"FeatureImage":null,"__typename":"InternalPromotion"},{"Id":"202c6142-401f-4589-8552-3ebb76864e5d","Name":"Subscribe Now - Anonymous - Offer Box","Description":"Subscribe Now - Anonymous - Offer Box","Body":"BLACK FRIDAY SALE: Use code BF24W25 at checkout to save 25% on any annual plan!","Title":"Subscribe Today","PromotionType":"OFFERBOX","ButtonLink":"https://joc.com/subscription/choose-plan?utm_source=joc\u0026utm_medium=offer_box\u0026utm__campaign=subscribe_anonymous","ButtonOpenInNewWindow":false,"ButtonText":"Save Now","CardLink":"","Icon":null,"Published":true,"PublishingStart":"1699267280629","PublishingEnd":"1735685999629","SubscriberLevel":["Free"],"CloseDelay":null,"DisplayDelay":null,"DisplayPerSession":null,"Taxonomies":[],"TargetUrls":[],"Position":null,"FeatureImageId":null,"FeatureImage":null,"__typename":"InternalPromotion"}],"nativeAdvertising":[{"Id":"5994e1c1-333c-462d-a230-0e63dd01a9b8","Title":"Shippers save money, time with automated transportation bidding tools","ContentBody":"\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eThe world of LTL is slow to embrace change. Business anachronisms permeate current supply chain processes. These vestiges of the way things used to work define the LTL freight transportation procurement process of many modern shippers.\u003c/span\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eDavid Knuth, logistics specialist at IEWC, a global supplier of cable and wire based in Wisconsin, is happy to have modernized the RFP process, automating the entire LTL bidding procedure with Bid$ense, SMC³’s automated truckload and LTL freight transportation sourcing solution. But when prompted, he can still recall what once was.\u003c/span\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eIn his previous job, a large part of his duties were consumed by creating an intermodal bid package for carriers. In a spreadsheet, Knuth detailed the company’s volumes lane by lane, taking care to delete any errant keystrokes or misleading data. He would then email out the information to each carrier, taking time to respond to detailed technical questions about the spreadsheet data. Finally, he had to compile all the results, create an algorithm that would compare the carriers on each lane, and award the business.\u003c/span\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003e“It was a huge undertaking. It took about four months to do,” Knuth said of the old process. “It was almost a full-time job for that part of the year, every year.”\u003c/span\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eIn his new job at IEWC, he sat down with Bid$ense on day one and was amazed at the capabilities. Knuth had never before used a bid tool. SMC³’s latest versions of Bid$ense automate the process even further, taking truckload and LTL RFPs entirely online. The tool draws on RFP best-practices protocols to streamline the bidding communication process, enabling bidding carriers to respond accurately and promptly to shipper requests. The solution also does all the distribution work automatically, electronically submitting shipper bid data to carriers based on their actual service capabilities and performance records. Carriers are alerted with timely prompts for RFP deliverables, so shippers aren’t waiting by the phone for responses.\u003c/span\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eAnother benefit of automating the process is the data-cleansing assistance. When Knuth sent spreadsheets to carriers, data errors might cloud the bidding process; he might have to resend data or simply accept a price that did not truly reflect the costs of doing business. Data cleansing is incredibly beneficial, he said.\u003c/span\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eThe spreadsheet technique also made bidding analysis an onerous task. Since Bid$ense automates and streamlines the entire RFP process, intensive examination is now simple. SMC³ knows that each bid has more than one best outcome. With uniform responses from each carrier, shippers can quickly rank results and create an unlimited quantity of what-if scenarios to make the optimal procurement decision.\u003c/span\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eJesse Burnett of Central Garden \u0026amp; Pet experiences many of the same benefits. Founded in 1980, Central Garden \u0026amp; Pet has spent the last three decades growing from a small garden supply company to a provider of a range of products from dog chews and bird seed to soil supplements and natural insecticides. For much of its life, the company shipped these disparate goods via LTL and truckload carriers to retailers throughout the country, relying on each business unit to negotiate directly with their freight transportation providers. This arrangement worked fairly well for a small company, but as Central Garden \u0026amp; Pet expanded, leadership decided to consolidate decision making.\u003c/span\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eBurnett helped centralize the transportation decision making in 2015 with SMC³’s Bid$ense. Before Bid$ense, every business unit operated independently as far as negotiating with carriers.\u003c/span\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003e“There were a lot of different things just floating around,” he said. “We didn’t have master agreements in place; no national pricing at all. The pricing from carriers was just all over the place, depending on where you were.”\u003c/span\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eThe transformations he saw with Bid$ense were immediate. Burnett has been using the tool about every other year since its implementation at the company. Central Garden and Pet’s $19.6 million 2019 LTL bid saved the company just more than 9 percent when compared to its historical average. For Burnett, though, bid automation extends far beyond savings.\u003c/span\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003e“We knew that we weren’t getting the best pricing offer from our carriers just because nothing was centralized,” he continued. “We knew that if we combined everything from all these business units and paired it with one corporate offering, then it would drive some cost benefit with it.”\u003c/span\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eWhen the company initially decided to centralize bid procurement, executives researched a number of different methodologies and technologies. In the end, though, Burnett found that Bid$ense was both widespread and well known, and that his carrier partners already knew how to use the application. Burnett also highlighted the data-cleansing process as a major benefit, saying the rigorous process ensures that carriers always return the best price.\u003c/span\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003e“It definitely has helped drive savings,” he said. “Any time you go out there and you drive that competitiveness with the carriers and they know they’re in a bid environment, it seems to sharpen their pencils.”\u003c/span\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eTransportation procurement is an integral part of the modern supply chain. With Bid$ense, shippers can develop a strategic implementation plan that saves them time and money, but also helps them create strong relationships with their carrier partners. These carriers appreciate the solution’s data-cleansing process; when carriers receive a complete shipment history and future volume forecast, they don’t have to guess on pricing. Carriers that receive more data from shippers get a complete picture of that shipper’s freight, allowing them to accurately plan instead of simply preparing for the worst-case scenario. Clean data presented through an automated system can lead to both bigger shipment savings and a lasting partnership between carrier and customer.\u003c/span\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eWhether customers are looking to streamline over-the-road transportation bidding by automating the RFP process or create an entirely new, centralized sourcing process, Bid$ense has the analytical horsepower to get the job done.\u003c/span\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eSMC³ 2020 Customer Case Study\u003c/span\u003e\u003c/p\u003e","Author":"Sponsored by SMC3","PhotoCutline":"Photo Credits: Shutterstock","FeatureImageId":"5a250a9a-79d5-4e11-99a9-055c34871cc2","FeatureImage":{"Id":"5a250a9a-79d5-4e11-99a9-055c34871cc2","Name":"SMC3rates_shutterstock_5247046.jpg","Path":"/content-assets/1724062812611_SMC3rates_shutterstock_5247046.jpg","__typename":"File"},"Taxonomy":{"Id":"46","Name":"LTL","Redirects":[{"Path":"/surface/trucking-news/ltl","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},"Redirects":[{"Path":"/shippers-save-money-time-with-automated-transportation-bidding-tools-5994e1c1","__typename":"Redirect"}],"EntityMetadata":{"CreatedAt":"1724062819729","__typename":"EntityMetadata"},"__typename":"PartnerContent"},{"Id":"92549aa6-bf87-42f9-a742-cbcd76e3d298","Title":"SSA Marine Mexico Modernizes Facilities with $15 Million Investment ","ContentBody":"\u003cp class=\"joc_admin__paragraph\"\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eSSA Marine Mexico has made significant strides in modernizing its infrastructure at the Port of Manzanillo, investing $15 million to enhance operational efficiency and sustainability at its facilities. This move is part of the company's broader strategy to remain at the forefront of the shipping and logistics industry.\u003c/span\u003e\u003cbr\u003e\u003cbr\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003e•\u003c/span\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003e\t\u003c/span\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eStrengthening Sustainability with Advanced Technology\u003c/span\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cfigure class=\"joc_admin__inline-image-position-left joc_admin__inline-image-size-medium\" data-figure-size=\"medium\" data-figure-position=\"left\"\u003e\u003cspan class=\"joc_admin__inline-image-inherit\"\u003e\u003cimg src=\"/content-assets/1730488295264_Cranes%20arrival%20to%20TEC%20I.png\" alt=\"Cranes arrival to TEC I\" class=\"joc_admin__inline-image-inherit\"\u003e\u003c/span\u003e\u003c/figure\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\"\u003e\u003cbr\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003e \u003c/span\u003e\u003cbr\u003e\u003cbr\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eIn July, SSA Marine Mexico added seven state-of-the-art E-RTG (Electric Rubber-Tired Gantry) cranes to its fleet, valued at $14 million. These advanced cranes were distributed across its two terminals: four cranes were assigned to the Multipurpose Terminal, and three to the Specialized Container Terminal I. \u003c/span\u003e\u003cbr\u003e\u003cbr\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eWhat sets these cranes apart is their dual-operation capability, allowing them to function either on electric power or diesel fuel. This innovation plays a critical role in reducing the environmental impact of operations, contributing to a 7% increase in energy efficiency. This efficiency improvement is equivalent to eliminating nearly 4,000 tons of CO2 emissions annually, underscoring SSA Marine Mexico's commitment to sustainability.\u003c/span\u003e\u003cbr\u003e\u003cbr\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eThrough this acquisition, SSA Marine Mexico not only enhances its cargo-handling capabilities but also reinforces its leadership in integrating cutting-edge, eco-friendly technology in the maritime industry. The company continues to push the boundaries of efficiency and sustainability, ensuring long-term value for both its customers and the environment.\u003c/span\u003e\u003cbr\u003e\u003cbr\u003e\u003cbr\u003e\u003cbr\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003e•\u003c/span\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003e\t\u003c/span\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eUpgraded Facilities to Meet Growing Demand\u003c/span\u003e\u003cbr\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003e \u003c/span\u003e\u003c/p\u003e\u003cfigure class=\"joc_admin__inline-image-position-left joc_admin__inline-image-size-medium\" data-figure-size=\"medium\" data-figure-position=\"left\"\u003e\u003cspan class=\"joc_admin__inline-image-inherit\"\u003e\u003cimg src=\"/content-assets/1730488350634_Multipurpose%20terminal.png\" alt=\"Multipurpose Terminal\" class=\"joc_admin__inline-image-inherit\"\u003e\u003c/span\u003e\u003c/figure\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\"\u003e\u003cbr\u003e\u003cbr\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eIn addition to the new cranes, SSA Marine Mexico has completed crucial modernization and repair work across its Multipurpose Terminal and Specialized Facility at the Port of Manzanillo. This $1 million investment targeted critical infrastructure enhancements, focusing on both structural integrity and operational functionality.\u003c/span\u003e\u003cbr\u003e\u003cbr\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eKey improvements included leveling approximately 12,000 square meters in the dock area, along with the removal of outdated concrete curbs and asphalt layers. The upgraded space now features high-resistance pavers designed to optimize water drainage and prevent pooling, ensuring safer and more efficient operations.\u003c/span\u003e\u003cbr\u003e\u003cbr\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eMoreover, the Specialized Facility saw significant upgrades, including the leveling of key warehouse areas to facilitate smoother cargo handling processes.\u003c/span\u003e\u003cbr\u003e\u003cbr\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eThese infrastructure improvements directly enhance the handling of TEUS (Twenty-foot Equivalent Unit containers), further demonstrating SSA Marine Mexico's unwavering commitment to continuous modernization, operational safety, and efficiency.\u003c/span\u003e\u003cbr\u003e\u003cbr\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eWith these initiatives, SSA Marine Mexico is well-positioned to meet the growing demands of the global shipping industry while setting new standards in sustainable port operations.\u003c/span\u003e\u003cbr\u003e\u003cbr\u003e\u003cbr\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eLINK:\u003c/span\u003e\u003ca href=\"https://www.ssamarine.mx/ssa-ing/index\" rel=\"noreferrer\" class=\"joc_admin__link\"\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003e https://www.ssamarine.mx/ssa-ing/index\u003c/span\u003e\u003c/a\u003e\u003cbr\u003e\u003c/p\u003e","Author":"Sponsored by SSA Marine ","PhotoCutline":"Photo by SSA Marine Mexico","FeatureImageId":"e1447250-5fe7-43ba-a297-16b55e1dcd5f","FeatureImage":{"Id":"e1447250-5fe7-43ba-a297-16b55e1dcd5f","Name":"Cranes arrival to TEC I.png","Path":"/content-assets/1730488383359_Cranes arrival to TEC I.png","__typename":"File"},"Taxonomy":{"Id":"1","Name":"Maritime","Redirects":[{"Path":"/maritime","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},"Redirects":[{"Path":"/ssa-marine-mexico-modernizes-facilities-with-15-million-investment-92549aa6","__typename":"Redirect"}],"EntityMetadata":{"CreatedAt":"1730488384752","__typename":"EntityMetadata"},"__typename":"PartnerContent"},{"Id":"c7bc78df-b12e-42e2-964e-ea543f4d66a9","Title":"Filling the Supply Chain Education Gap with LTL Education Courses","ContentBody":"\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eIf there’s one immutable truth in the world of logistics, it’s this: LTL is an inherently complex form of transportation. Tariffs, rates, DIM weights, transit times — it’s enough to confuse even seasoned logistics professionals. The solution to this knowledge gap has historically been on-the-job training or university supply chain education, but for a variety of reasons there is now a pressing need for third-party, remote LTL training that prepares logistics workers for transportation success.\u003c/span\u003e\u003cbr\u003e\u003cbr\u003e\u003cb\u003e\u003cstrong class=\"joc_admin__textBold\" style=\"white-space: pre-wrap;\"\u003eGlobal Scope Can Overlook Local Intricacies\u003c/strong\u003e\u003c/b\u003e\u003cbr\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eIn the past, professionals looking to move into a supply chain career learned about the basics of supply chain from universities. However, many of these college supply chain programs are now global in scope, focusing on worldwide supply chain management instead of the intricacies of specialized domestic transportation. And even these programs, which used to be widespread, are becoming less common. LTL is not an industry of broad-brush strokes; supply chain professionals really need a pointillistic understanding of the logistics of LTL in order to excel in the industry.\u003c/span\u003e\u003cbr\u003e\u003cbr\u003e\u003cb\u003e\u003cstrong class=\"joc_admin__textBold\" style=\"white-space: pre-wrap;\"\u003eAccelerating Need for Dedicated LTL Education\u003c/strong\u003e\u003c/b\u003e\u003cbr\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eThis lack of specified training put the onus on employers to prepare new hires with the LTL knowledge needed to do their jobs. Dedicated LTL study is a necessity, not a luxury. At the same time, changes in LTL and the broader supply chain world are accelerating. The reliance on e-commerce has ballooned since the start of the pandemic, and last-mile LTL shipments and related e-commerce strains on the supply chain won’t diminish once social distancing abates.\u003c/span\u003e\u003cbr\u003e\u003cbr\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eThat genie isn’t going back into the bottle. So supply chain employers need logistics workers that are fully versed in all aspects of the industry, ready to solve unique shipping and delivery problems based on their extensive supply chain knowledge But why care about LTL? It’s been reported that some shippers in today’s world are no longer concerned with what mode is used to ship their goods.\u003c/span\u003e\u003cbr\u003e\u003cbr\u003e\u003cb\u003e\u003cstrong class=\"joc_admin__textBold\" style=\"white-space: pre-wrap;\"\u003eA Multimodal Approach Ensures On-Time Delivery\u003c/strong\u003e\u003c/b\u003e\u003cbr\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eThis mode agnosticism means supply chain stakeholders have to be well versed in all modes of transportation. As unforeseen weather events and other disruptions, such as protests, become more common, savvy logistics employees will need to be armed with familiarity of all modes, not just the most popular, to ensure that freight is delivered on time, without damage, and in the most financially expedient way possible. Offerings like SMC³’s LTL online education courses cover a wide range of topics from LTL basics and operations to more advanced concepts like pricing analytics and transportation law. The company also has plans to continually refresh content, adding new expert presenters and taking the feedback of students to make the courses even better as time goes on.\u003c/span\u003e\u003cbr\u003e\u003cbr\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eLearn more about\u0026nbsp;\u003c/span\u003e\u003ca href=\"https://logisticstrainingcenter.com/smc3-courses/\" rel=\"noreferrer\" class=\"joc_admin__link\"\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eSMC³’s LTL Online Education program\u003c/span\u003e\u003c/a\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003e\u0026nbsp;and view the 2021 hybrid schedule, featuring live industry experts,\u0026nbsp;\u003c/span\u003e\u003ca href=\"https://www.smc3.com/onlinelearning2021/\" rel=\"noreferrer\" class=\"joc_admin__link\"\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003ehere.\u003c/span\u003e\u003c/a\u003e\u003c/p\u003e","Author":"Sponsored by SMC³","PhotoCutline":"Photo Credits: Shutterstock","FeatureImageId":"bf8b13fa-df15-4b0e-8d1d-d8ef28bdb121","FeatureImage":{"Id":"bf8b13fa-df15-4b0e-8d1d-d8ef28bdb121","Name":"SMC3rates_shutterstock_5247046 (1).jpg","Path":"/content-assets/1726241504084_SMC3rates_shutterstock_5247046 (1).jpg","__typename":"File"},"Taxonomy":{"Id":"46","Name":"LTL","Redirects":[{"Path":"/surface/trucking-news/ltl","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},"Redirects":[{"Path":"/filling-the-supply-chain-education-gap-with-ltl-education-courses-c7bc78df","__typename":"Redirect"}],"EntityMetadata":{"CreatedAt":"1726241511473","__typename":"EntityMetadata"},"__typename":"PartnerContent"}],"homepageData":{"data":{"essentialReads":[{"Id":"5821960_JournalOfCommerce","Attachments":[{"FileName":"5821940_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyPlainText":"The 47 million TEUs transported by ocean carriers in the third quarter comprised the highest quarterly volume on record, besting the previous high set in 2021 at the height of the pandemic by just over 2%, according to the founder of global equity firm Blue Alpha Capital. John McCown wrote in his quarterly market report this week that volume data from Container Trades Statistics (CTS) also showed that for the first nine months of 2024, the 136.7-million-TEU volume moved worldwide was up 6.3% year over year and 1.5% above the first nine months of 2021. The robust volume was accompanied by higher rate levels that saw the average revenue per load assessed by CTS up 52.5% in the third quarter year over year and 23.4% higher compared with the second quarter. “Driven by the capacity tightening resulting from the Red Sea situation and augmented by robust volume, the sector moved to a $5.4 billion Q1 profit that was doubled in the second quarter and more than doubled in the third quarter,” McCown said. Average global spot rate levels in the third quarter recorded by the Shanghai Containerized Freight Index (SCFI) of $3,074 per TEU were more than double the year-ago period and up 19% from the second quarter. McCown said the carriers’ third-quarter net profit of $26.8 billion was up 164% sequentially over the second quarter and almost nine times higher year over year. It was also more than twice what the container shipping industry earned in any full pre-pandemic year, he noted. The three consecutive quarters of exponential net profit growth this year followed an industry loss of $700 million in the last three months of 2023. Maritime consultancy Drewry has estimated that container shipping will report a pre-tax profit of $50 billion this year, up from $28 billion in 2023. While it is a fraction of the $298 billion recorded in 2022, the carriers will enter an uncertain 2025 in solid financial health. “Stronger-than-expected volume has certainly buoyed rates, but much of the recent pricing strength remains tied to the Red Sea situation that is effectively absorbing 8% of worldwide capacity,” McCown wrote. Tariffs on China ‘now more of a reality’ Looking ahead to next year, McCown said in addition to continued diversions around southern Africa to avoid the Red Sea, US President-elect Donald Trump’s stated intention to impose tariffs of 60% and more on Chinese imports and 10% to 20% on all other imports iss now more of a reality. The tariffs would also follow a possible second strike by the International Longshoremen’s Association (ILA) when its tentative contract extension expires on Jan. 15. “The combined impact of those two, happening at the same time, would indeed be a perfect storm for the sector,” McCown warned. “My hope is that reason prevails and that the supposed silver bullet of tariffs was more about campaigning and less about administering.” Global bank HSBC also highlighted tariffs and ILA industrial action as catalysts for strong volume development on the US import trades for the rest of the year and into 2025. “We expect the looming US East [and Gulf] coasts labor union strike and an earlier Lunar New Year [Jan. 29] to drive cargo frontloading into the year-end ,” HSBC said in a market update. “Separately, following the election of Donald Trump, we expect further frontloading due to potential tariff concerns to keep near-term freight rates elevated.” US imports from Asia were up 10.5% year over year in October, according to PIERS, a Journal of Commerce sister product within S\u0026P Global. ‘Meaningful uplift to 2025 earnings’ Carriers will reap the benefits of elevated rate levels on the east-west trade lanes, which HSBC believes will see 2025 contract rates on Asia-Europe rising sharply compared with this year, providing “meaningful uplift to 2025 earnings.” Potentially standing in the way of continuing profitability is shipping supply, with the order book approaching 30% of the in-fleet capacity. Data from shipping association BIMCO has forecast cargo volume this year will grow between 4% and 5% against 16% growth in capacity. However, assuming Red Sea diversions last through 2025, container shipping analyst Clarksons estimates that nominal fleet capacity growth will slow from over 10% to 5% against estimated 18% growth in TEU-mile demand in 2024 and 3% growth in 2025. “While supply growth still exceeds demand and we continue to assume freight rates to trend lower in 2025 as our base case, we think the pace of supply delivery and demand from frontloading indicates that near-term freight rates may not capitulate as the market feared,” HSBC noted in its report. Ocean carriers are also becoming more optimistic in their capacity outlooks for next year as the Red Sea diversions absorb capacity. Maersk CEO Vincent Clerc told analysts in a third-quarter earnings call that demand would remain solid into 2025 and the supply-demand balance could be smoothed out by carriers pulling on the capacity management levers of increased scrapping and slow steaming. Contact Greg Knowler at greg.knowler@spglobal.com .","BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eThe 47 million TEUs transported by ocean carriers in the third quarter comprised the highest quarterly volume on record, besting the previous high set in 2021 at the height of the pandemic by just over 2%, according to the founder of global equity firm Blue Alpha Capital. \u003c/p\u003e\u003cp\u003eJohn McCown wrote in his quarterly market report this week that volume data from Container Trades Statistics (CTS) also showed that for the first nine months of 2024, the 136.7-million-TEU volume moved worldwide was up 6.3% year over year and 1.5% above the first nine months of 2021. \u003c/p\u003e\u003cp\u003eThe robust volume was accompanied by higher rate levels that saw the average revenue per load assessed by CTS up 52.5% in the third quarter year over year and 23.4% higher compared with the second quarter. \u003c/p\u003e\u003cp\u003e“Driven by the capacity tightening resulting from the Red Sea situation and augmented by robust volume, the sector moved to a $5.4 billion Q1 profit that was doubled in the second quarter and more than doubled in the third quarter,” McCown said. \u003c/p\u003e\u003cp\u003eAverage global spot rate levels in the third quarter recorded by the Shanghai Containerized Freight Index (SCFI) of $3,074 per TEU were more than double the year-ago period and up 19% from the second quarter. \u003c/p\u003e\u003cdiv class=\"wrapper-narrow\"\u003e\u003cdynamic-object type=\"jocchartid\" resource-id=\"b1d23881-2ae2-4545-ac9b-03e4ae60579e\"\u003e\u003c/dynamic-object\u003e\u003c/div\u003e\u003cp\u003eMcCown said the carriers’ third-quarter net profit of $26.8 billion was up 164% sequentially over the second quarter and almost nine times higher year over year. It was also more than twice what the container shipping industry earned in any full pre-pandemic year, he noted. \u003c/p\u003e\u003cp\u003eThe three consecutive quarters of exponential net profit growth this year followed an industry loss of $700 million in the last three months of 2023. \u003c/p\u003e\u003cp\u003eMaritime consultancy Drewry has estimated that container shipping will report a pre-tax profit of $50 billion this year, up from $28 billion in 2023. While it is a fraction of the $298 billion recorded in 2022, the carriers will enter an uncertain 2025 in solid financial health. \u003c/p\u003e\u003cp\u003e“Stronger-than-expected volume has certainly buoyed rates, but much of the recent pricing strength remains tied to the Red Sea situation that is effectively absorbing 8% of worldwide capacity,” McCown wrote. \u003c/p\u003e\u003ch3\u003eTariffs on China ‘now more of a reality’ \u003c/h3\u003e\u003cp\u003eLooking ahead to next year, McCown said in addition to continued diversions around southern Africa to avoid the Red Sea, US President-elect Donald Trump’s stated intention to impose tariffs of 60% and more on Chinese imports and 10% to 20% on all other imports iss now more of a reality. \u003c/p\u003e\u003cp\u003eThe tariffs would also follow \u003ca href=\"https://www.joc.com/article/ila-breaks-off-contract-talks-accuses-usmx-of-semi-automation-push-5810392\"\u003ea possible second strike\u003c/a\u003e by the International Longshoremen’s Association (ILA) when its tentative contract extension expires on Jan. 15. \u003c/p\u003e\u003cp\u003e“The combined impact of those two, happening at the same time, would indeed be a perfect storm for the sector,” McCown warned. “My hope is that reason prevails and that the supposed silver bullet of tariffs was more about campaigning and less about administering.” \u003c/p\u003e\u003cp\u003eGlobal bank HSBC also highlighted tariffs and ILA industrial action as catalysts for strong volume development on the US import trades for the rest of the year and into 2025. \u003c/p\u003e\u003cp\u003e“We expect the looming US East [and Gulf] coasts labor union strike and an earlier Lunar New Year [Jan. 29] \u003ca href=\"https://www.joc.com/article/us-importers-dabbling-in-frontloading-ahead-of-new-tariff-threat-5821448\"\u003eto drive cargo frontloading into the year-end\u003c/a\u003e,” HSBC said in a market update. “Separately, following the election of Donald Trump, we expect further frontloading due to potential tariff concerns to keep near-term freight rates elevated.” \u003c/p\u003e\u003cp\u003eUS imports from Asia were up 10.5% year over year in October, according to PIERS, a \u003ci\u003eJournal of Commerce\u003c/i\u003e sister product within S\u0026amp;P Global. \u003c/p\u003e\u003ch3\u003e‘Meaningful uplift to 2025 earnings’ \u003c/h3\u003e\u003cp\u003eCarriers will reap the benefits of elevated rate levels on the east-west trade lanes, which HSBC believes will see 2025 contract rates on Asia-Europe rising sharply compared with this year, providing “meaningful uplift to 2025 earnings.” \u003c/p\u003e\u003cp\u003ePotentially standing in the way of continuing profitability is shipping supply, with the order book approaching 30% of the in-fleet capacity. Data from shipping association BIMCO has forecast cargo volume this year will grow between 4% and 5% against 16% growth in capacity. \u003c/p\u003e\u003cdiv class=\"wrapper-narrow\"\u003e\u003cdynamic-object type=\"jocchartid\" resource-id=\"b1577241-6a7f-498a-8c5d-7a1e12ab9b6b\"\u003e\u003c/dynamic-object\u003e\u003c/div\u003e\u003cp\u003eHowever, assuming Red Sea diversions last through 2025, container shipping analyst Clarksons estimates that nominal fleet capacity growth will slow from over 10% to 5% against estimated 18% growth in TEU-mile demand in 2024 and 3% growth in 2025. \u003c/p\u003e\u003cp\u003e“While supply growth still exceeds demand and we continue to assume freight rates to trend lower in 2025 as our base case, we think the pace of supply delivery and demand from frontloading indicates that near-term freight rates may not capitulate as the market feared,” HSBC noted in its report. \u003c/p\u003e\u003cp\u003eOcean carriers are also becoming more optimistic in their capacity outlooks for next year as the Red Sea diversions absorb capacity. Maersk CEO Vincent Clerc told analysts in a third-quarter earnings call that demand would remain solid into 2025 and \u003ca href=\"https://www.joc.com/article/scrapping-slow-steaming-demand-will-limit-capacity-overhang-clerc-5785020\"\u003ethe supply-demand balance could be smoothed out\u003c/a\u003e by carriers pulling on the capacity management levers of increased scrapping and slow steaming. \u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Greg Knowler at \u003c/i\u003e\u003ca href=\"mailto:greg.knowler@spglobal.com\"\u003e\u003ci\u003egreg.knowler@spglobal.com\u003c/i\u003e\u003c/a\u003e\u003ci\u003e.\u003c/i\u003e \u003c/p\u003e\u003c/div\u003e","Metadata":{"BylineOverwrite":null,"AuthorCompanyOrEventLink":null,"PaywallLocked":true,"FeatureImageCopyright":"A total of 136.7 million TEUs were moved worldwide in the first nine months, up 6.3% year over year. Photo credit: ABCDstock / Shutterstock.com.","__typename":"Metadata"},"ModDate":"1732205475170","Taxonomy":{"MainCategory":[{"Id":"1","Name":"Maritime","Redirects":[{"Path":"/maritime","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"AdditionalCategories":[{"Id":"9","Name":"Container Shipping News","Redirects":[{"Path":"/maritime/container-shipping-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"34","Name":"Container lines","Redirects":[{"Path":"/maritime/container-shipping-news/container-lines","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"35","Name":"Trans-Atlantic","Redirects":[{"Path":"/maritime/container-shipping-news/trans-atlantic","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"37","Name":"Asia-Europe","Redirects":[{"Path":"/maritime/container-shipping-news/asia-europe","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"38","Name":"Trans-Pacific","Redirects":[{"Path":"/maritime/container-shipping-news/trans-pacific","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"Greg Knowler, Senior Editor Europe","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1732200436000","TitlePlainText":"Global ocean volume in Q3 beat pandemic record: Blue Alpha Capital","Published":true,"Redirects":[{"Path":"/article/global-ocean-volume-in-q3-beat-pandemic-record-blue-alpha-capital-5821960","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eFrontloading and Red Sea diversions pushed volume and rates higher in the third quarter, and ongoing geopolitical disruption will allow carriers to extend their robust financial health into next year, according to the founder of the global equity firm.\u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"Frontloading and Red Sea diversions pushed volume and rates higher in the third quarter, and ongoing geopolitical disruption will allow carriers to extend their robust financial health into next year, according to the founder of the global equity firm.","__typename":"Document"},{"Id":"5821309_JournalOfCommerce","Attachments":[{"FileName":"5821197_0.1.jpg","FileType":"Nondownloadable","Title":null,"__typename":"Attachment"},{"FileName":"5821221_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyPlainText":"Non-vessel-operating common carriers (NVOs) will look back on 2024 as a challenging year in two key respects: it was when carriers, seizing on an unexpectedly favorable market, got tough in demanding more spot cargo as a condition for granting contracts to NVOs’ customers, while putting further pressure on NVOs by closely monitoring their adherence to those contracts. “In 2024, ocean carriers began tightening their grip on the market,” analyst Jon Monroe wrote on Nov. 19. “They became more selective with NVOCC contracts, making ‘named account’ deals, [i.e.] contracts reserved for large, high-volume customers, harder to secure.” NVOs will go into 2025 hoping that experience was merely cyclical, a product of an unusual market following the Red Sea diversions and an early peak season. For beneficial cargo owners (BCOs), the idea that NVOs are coming under pressure from carriers is relevant in terms of NVOs’ ability to access vessel space. Indeed, some BCOs have recently raised concerns to the Journal of Commerce about the presence in their NVO contracts of clauses absolving the NVO if space can’t be procured. Unfortunately, there is no guarantee the market will weaken in the New Year even as a glut of capacity threatens to weigh on the market. Some NVOs contacted by the Journal of Commerce believe a softening is likely next year — and may already have begun. But others believe the stretch of good fortune for carriers — seen in a fully deployed fleet and still-elevated spot rates — hasn’t run its course and won’t until the Suez becomes a safe route again, whereupon capacity will pour back into the market. Maersk CEO Vincent Clerc suggested as such in a recent earnings call, noting carriers have untapped levers to forestall overcapacity . Maersk “highlighted that supply discipline in the form of slow steaming, blanked sailings and scrapping could emerge once the market returns to a normal level of profitability,” Parash Jain, HSBC Commercial Banking’s global head of transport and logistics research and a TPM25 speaker, wrote on Nov. 1. Carriers’ evolving positions on NVO cargo For NVOs, as long as carriers are in control such that spot rates end up higher than contract rates, carriers will demand more spot market cargo, also called freight-all-kinds (FAK), as the price for granting NVOs’ contract, or named account rates (NAC), for their BCO customers. “The ratio between nominated account rates and FAK rates varies among different carriers. However, we are observing an increasing demand for a more balanced approach as we approach 2025,” meaning carriers seeking a larger share of FAK cargo from NVOs, said Marc Meier, global head of ocean freight at Toll Global Forwarding. Others see an already softening market reflected in carriers’ evolving positions relative to NVO cargo. “Carriers have taken such a policy each year during annual negotiations on NAC rates to request for at least 50-50 on NAC/FAK bookings, but when space is tighter, some even ask for 4 to 1 (FAK to NAC) to even 5 to 1 as happened in June-July of this year,” said Christian Sur, executive vice president for ocean freight/contract logistics at Unique Logistics International. “We are back to more 1 to 1 or even a better ratio to receive NAC space.” Others see it similarly, given that new tonnage deliveries will add 11% to existing capacity by the end of 2024 and another 6% next year, growth only minimally reduced by scrapping at least so far, according to S\u0026P Global Market Intelligence. “NVOCCs could find themselves in a more favorable position in 2025 as the market shifts and carriers face increased competition to fill excess vessel capacity,” Monroe wrote on Nov. 19. “With the surge of available capacity in the ocean freight market, carriers are likely to adopt more flexible and reasonable terms for NVOCCs in order to maintain their vessel utilization.” Carriers monitoring NVOs’ use of NAC rates Carriers’ NVO policies this year forced some NVOs to be more aggressive in scrounging up FAK cargo, often from the smaller end of the shipper market that is too small to secure contract rates. But while market cyclicality might make carriers hungry for NVO cargo, what will likely not change so fast is carriers’ increasingly sophisticated monitoring of NVOs’ use of named account rates, especially when spot rates exceed contract rates. That monitoring has disrupted longstanding practice under which NVOs — when contract rates fall below spot rates — utilize named account rates to ship multiple shippers’ cargo, not just the shipper named in the account, thereby taking advantage of lower buy rates than were available on the open market. Not anymore, as carriers have developed technology and systems enabling them to closely monitor NVO named account volumes. When they see commodities or volumes shipped beyond what was agreed in an NAC contract, or the NVO not providing agreed-upon volumes in a given month, they intervene. In a soft market, carriers may pressure NVOs less but won’t stop monitoring the volumes. That is something unlikely to change irrespective of where the market goes. Contact Peter Tirschwell at peter.tirschwell@spglobal.com .","BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eNon-vessel-operating common carriers (NVOs) will look back on 2024 as a challenging year in two key respects: it was when carriers, seizing on an unexpectedly favorable market, got tough in demanding more spot cargo as a condition for granting contracts to NVOs’ customers, while putting further pressure on NVOs by closely monitoring their adherence to those contracts. \u003c/p\u003e\u003cdiv class=\"wrapper-narrow float-right-element\"\u003e\u003cimg src=\"/images/phoenix/5821197_0.1.jpg\"\u003e\u003c/img\u003e\u003c/div\u003e\u003cp\u003e“In 2024, ocean carriers began tightening their grip on the market,” analyst Jon Monroe wrote on Nov. 19. “They became more selective with NVOCC contracts, making ‘named account’ deals, [i.e.] contracts reserved for large, high-volume customers, harder to secure.” \u003c/p\u003e\u003cp\u003eNVOs will go into 2025 hoping that experience was merely cyclical, a product of an unusual market following the Red Sea diversions and an early peak season. For beneficial cargo owners (BCOs), the idea that NVOs are coming under pressure from carriers is relevant in terms of NVOs’ ability to access vessel space. Indeed, some BCOs have recently raised concerns to the \u003ci\u003eJournal of Commerce\u003c/i\u003e about the presence in their NVO contracts of clauses absolving the NVO if space can’t be procured. \u003c/p\u003e\u003cp\u003eUnfortunately, there is no guarantee the market will weaken in the New Year even as a glut of capacity threatens to weigh on the market. Some NVOs contacted by the \u003ci\u003eJournal of Commerce\u003c/i\u003e believe a softening is likely next year — and may already have begun. But others believe the stretch of good fortune for carriers — seen in a fully deployed fleet and still-elevated spot rates — hasn’t run its course and won’t until the Suez becomes a safe route again, whereupon capacity will pour back into the market. \u003c/p\u003e\u003cp\u003eMaersk CEO Vincent Clerc suggested as such in a recent earnings call, \u003ca href=\"https://www.joc.com/article/scrapping-slow-steaming-demand-will-limit-capacity-overhang-clerc-5785020\"\u003enoting carriers have untapped levers to forestall overcapacity\u003c/a\u003e. Maersk “highlighted that supply discipline in the form of slow steaming, blanked sailings and scrapping could emerge once the market returns to a normal level of profitability,” Parash Jain, HSBC Commercial Banking’s global head of transport and logistics research and a TPM25 speaker, wrote on Nov. 1. \u003c/p\u003e\u003ch3\u003eCarriers’ evolving positions on NVO cargo \u003c/h3\u003e\u003cp\u003eFor NVOs, as long as carriers are in control such that spot rates end up higher than contract rates, carriers will demand more spot market cargo, also called freight-all-kinds (FAK), as the price for granting NVOs’ contract, or named account rates (NAC), for their BCO customers. \u003c/p\u003e\u003cp\u003e“The ratio between nominated account rates and FAK rates varies among different carriers. However, we are observing an increasing demand for a more balanced approach as we approach 2025,” meaning carriers seeking a larger share of FAK cargo from NVOs, said Marc Meier, global head of ocean freight at Toll Global Forwarding. \u003c/p\u003e\u003cp\u003eOthers see an already softening market reflected in carriers’ evolving positions relative to NVO cargo. \u003c/p\u003e\u003cp\u003e“Carriers have taken such a policy each year during annual negotiations on NAC rates to request for at least 50-50 on NAC/FAK bookings, but when space is tighter, some even ask for 4 to 1 (FAK to NAC) to even 5 to 1 as happened in June-July of this year,” said Christian Sur, executive vice president for ocean freight/contract logistics at Unique Logistics International. “We are back to more 1 to 1 or even a better ratio to receive NAC space.” \u003c/p\u003e\u003cp\u003eOthers see it similarly, given that new tonnage deliveries will add 11% to existing capacity by the end of 2024 and another 6% next year, growth only minimally reduced by scrapping at least so far, according to S\u0026amp;P Global Market Intelligence. \u003c/p\u003e\u003cp\u003e“NVOCCs could find themselves in a more favorable position in 2025 as the market shifts and carriers face increased competition to fill excess vessel capacity,” Monroe wrote on Nov. 19. “With the surge of available capacity in the ocean freight market, carriers are likely to adopt more flexible and reasonable terms for NVOCCs in order to maintain their vessel utilization.” \u003c/p\u003e\u003ch3\u003eCarriers monitoring NVOs’ use of NAC rates \u003c/h3\u003e\u003cp\u003eCarriers’ NVO policies this year forced some NVOs to be more aggressive in scrounging up FAK cargo, often from the smaller end of the shipper market that is too small to secure contract rates. \u003c/p\u003e\u003cp\u003eBut while market cyclicality might make carriers hungry for NVO cargo, what will likely not change so fast is carriers’ increasingly sophisticated monitoring of NVOs’ use of named account rates, especially when spot rates exceed contract rates. \u003c/p\u003e\u003cp\u003eThat monitoring has disrupted longstanding practice under which NVOs — when contract rates fall below spot rates — utilize named account rates to ship multiple shippers’ cargo, not just the shipper named in the account, thereby taking advantage of lower buy rates than were available on the open market. Not anymore, as carriers have developed technology and systems enabling them to closely monitor NVO named account volumes. When they see commodities or volumes shipped beyond what was agreed in an NAC contract, or the NVO not providing agreed-upon volumes in a given month, they intervene. \u003c/p\u003e\u003cp\u003eIn a soft market, carriers may pressure NVOs less but won’t stop monitoring the volumes. That is something unlikely to change irrespective of where the market goes. \u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Peter Tirschwell at \u003c/i\u003e\u003ca href=\"mailto:peter.tirschwell@spglobal.com\"\u003e\u003ci\u003epeter.tirschwell@spglobal.com\u003c/i\u003e\u003c/a\u003e\u003ci\u003e.\u003c/i\u003e \u003c/p\u003e\u003c/div\u003e","Metadata":{"BylineOverwrite":null,"AuthorCompanyOrEventLink":null,"PaywallLocked":true,"FeatureImageCopyright":"Maersk CEO Vincent Clerc suggested during a recent earnings call that carriers have untapped levers to forestall overcapacity. Photo credit: Clearsunrise / Shutterstock.com.","__typename":"Metadata"},"ModDate":"1732120157860","Taxonomy":{"MainCategory":[{"Id":"1","Name":"Maritime","Redirects":[{"Path":"/maritime","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"AdditionalCategories":[{"Id":"34","Name":"Container lines","Redirects":[{"Path":"/maritime/container-shipping-news/container-lines","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"36","Name":"Forwarding","Redirects":[{"Path":"/maritime/container-shipping-news/forwarding","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"Peter Tirschwell","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1732113614000","TitlePlainText":"NVOs eager to get past carriers’ tight grip on unexpectedly favorable market","Published":true,"Redirects":[{"Path":"/article/nvos-eager-to-get-past-carriers-tight-grip-on-unexpectedly-favorable-market-5821309","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eNVOs will enter 2025 hoping that their experience this year with carriers taking a get-tough approach to their business dealings was merely cyclical, a product of an unusual market following the Red Sea diversions and an early peak season.\u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"NVOs will enter 2025 hoping that their experience this year with carriers taking a get-tough approach to their business dealings was merely cyclical, a product of an unusual market following the Red Sea diversions and an early peak season.","__typename":"Document"},{"Id":"5820708_JournalOfCommerce","Attachments":[{"FileName":"5820666_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyPlainText":"Union Pacific Railroad (UP) has again increased surcharges on shippers exceeding their weekly allotments in Southern California as domestic intermodal volumes show no signs of the seasonal slowdown typically seen by mid-November. Low-volume shippers will now face a surcharge of $850 per container above their peak season allotment, up from $750, UP said Monday. High-volume shippers will see their surcharges double to $600 per container. It’s the third time UP has increased surcharges on small shippers since August and the second boost for large shippers. The new charges apply both to spot market business originating in Southern California and to contractual agreements when weekly limits are surpassed on rail-owned containers. UP partners Hub Group, Schneider National, STG Logistics and Swift Intermodal control pricing on their privately-owned boxes. Raising surcharges is meant to discourage one-off business from occupying containers that otherwise would be used by long-term customers, notably parcel giant UPS with the holiday shopping season about to ramp up. Class I railroads are facing the challenge of an elongated peak season for ocean and domestic freight, which has put significant pressure on North American intermodal networks. Intermodal marketing companies (IMCs) are experiencing difficulties in getting containers into terminals, onto trains, and to inland destinations with consistent transit times. Volume has been a factor in the service disruptions in international and domestic rail, including higher dwell times, more railcars idling and additional trains being held up compared with a year ago. “Union Pacific’s strategic intermodal investments are enabling us to capture the largest peak season volume increase in five years while maintaining fluidity across the network,” UP said in a statement to the Journal of Commerce. “Los Angeles to Chicago domestic intermodal is experiencing double-digit growth, including setting a volume record last week.” UP and competitor BNSF Railway hauled 1.5 million domestic containers out of the Southwest US between January and October, according to the Intermodal Association of North America (IANA), up 8.4% compared with a year ago and a new record high for the period. The Southwest region includes the ports of Los Angeles and Long Beach, the busiest US gateway. October also set monthly volume records for Southwest originations to the Midwest, Southeast and south-central US, according to IANA. Rails hauled 82,381 domestic containers from the Southwest to Midwest, the first ever monthly total exceeding 80,000, putting pressure on service from Los Angeles to Chicago, Cincinnati, Cleveland and Columbus. The Journal of Commerce estimates that rails hauled nearly 50,000 domestic containers from Los Angeles to Chicago in October, up more than 20% compared with a year ago. UP reported that international intermodal volume in Southern California jumped 30% year over year in the third quarter, further challenging network fluidity in Los Angeles and Long Beach. Service metrics show worst is over Despite recent improvement, UP and BNSF service was inconsistent between September and mid-October. After UP reported that an average of 58 loaded intermodal railcars idled for more than 48 hours per week between January and August, that rose to 139 railcars in September and then jumped to 231.5 in the first half of October, surpassing levels seen during the pandemic surge. However, in the past four weeks, UP’s average has dropped to 131.3 railcars per week, according to data from the US Surface Transportation Board. BNSF reported a similar trend. Both western US railroads also reported slower train speeds and an increase in the number of delayed intermodal trains during September and early October before the metrics improved in the last four weeks. Despite those service gains, some IMC partners remain concerned. Two IMC executives who did not want to be identified said ongoing service issues on UP’s network are a threat to the ability of their companies to retain current customers and attract new ones. “It’s better than it was a month ago, but service is still not where it needs to be, and with UPS ramping up holiday shipments, that’s not helping things,” said one executive. “The problem is inside the terminals. They’ve got terminal issues in Los Angeles, in Houston, in Memphis. I understand service challenges arise with record volumes. But two-week transit times from Los Angeles to Houston, or San Antonio? How do I explain that to our customers?” A second IMC executive shared similar frustrations, especially when attempting to convert truckload freight to rail in Southern California. “When we have that opportunity in hand for a truck conversion, we can save the shipper money, and we’ve finally convinced the shipper to try the intermodal product, it’s disheartening when it’s not a positive experience, leaving a poor first impression,” the source said. “I recently explained to a new customer that shipping early in the week was the best way to get cargo onto the train. But if you think about it, they could just say, ‘Well, I’m just going to put it on a truck, and I don’t have to worry about anything.’” UP, for its part, acknowledges that there have been “episodic” events that have caused service disruptions in recent weeks, but says it’s the result of IMCs winning new business and taking market share off the highways, thus showing the strength of intermodal. With fluidity returning to its network, UP also said it believes shippers moving freight off the highways will have a better experience going forward. Contact Ari Ashe at ari.ashe@spglobal.com .","BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eUnion Pacific Railroad (UP) has again increased surcharges on shippers exceeding their weekly allotments in Southern California as domestic intermodal volumes show no signs of the seasonal slowdown typically seen by mid-November. \u003c/p\u003e\u003cp\u003eLow-volume shippers will now face a surcharge of $850 per container above their peak season allotment, up from $750, UP said Monday. High-volume shippers will see their surcharges double to $600 per container. It’s the third time UP has increased surcharges on small shippers since August and the second boost for large shippers. \u003c/p\u003e\u003cp\u003eThe new charges apply both to spot market business originating in Southern California and to contractual agreements when weekly limits are surpassed on rail-owned containers. \u003c/p\u003e\u003cp\u003eUP partners Hub Group, Schneider National, STG Logistics and Swift Intermodal control pricing on their privately-owned boxes. \u003c/p\u003e\u003cp\u003eRaising surcharges is meant to discourage one-off business from occupying containers that otherwise would be used by long-term customers, notably parcel giant UPS with the holiday shopping season about to ramp up. \u003c/p\u003e\u003cp\u003eClass I railroads are facing the challenge of an \u003ca href=\"https://www.joc.com/article/strong-imports-low-blanks-extend-peak-season-on-eastbound-trans-pacific-5782101\"\u003eelongated peak season\u003c/a\u003e for ocean and domestic freight, which has put significant pressure on North American intermodal networks. Intermodal marketing companies (IMCs) are experiencing difficulties in getting containers into terminals, onto trains, and to inland destinations with consistent transit times. \u003c/p\u003e\u003cp\u003eVolume has been a factor in the service disruptions in international and domestic rail, including higher dwell times, more railcars idling and additional trains being held up compared with a year ago. \u003c/p\u003e\u003cp\u003e“Union Pacific’s strategic intermodal investments are enabling us to capture the largest peak season volume increase in five years while maintaining fluidity across the network,” UP said in a statement to the \u003ci\u003eJournal of Commerce\u003c/i\u003e. “Los Angeles to Chicago domestic intermodal is experiencing double-digit growth, including setting a volume record last week.” \u003c/p\u003e\u003cp\u003eUP and competitor BNSF Railway hauled 1.5 million domestic containers out of the Southwest US between January and October, according to the Intermodal Association of North America (IANA), up 8.4% compared with a year ago and a new record high for the period. The Southwest region includes the ports of Los Angeles and Long Beach, the busiest US gateway. \u003c/p\u003e\u003cp\u003eOctober also set monthly volume records for Southwest originations to the Midwest, Southeast and south-central US, according to IANA. Rails hauled 82,381 domestic containers from the Southwest to Midwest, the first ever monthly total exceeding 80,000, putting pressure on service from Los Angeles to Chicago, Cincinnati, Cleveland and Columbus. The \u003ci\u003eJournal of Commerce\u003c/i\u003e estimates that rails hauled nearly 50,000 domestic containers from Los Angeles to Chicago in October, up more than 20% compared with a year ago. \u003c/p\u003e\u003cp\u003eUP reported that international intermodal volume in Southern California jumped 30% year over year in the third quarter, further challenging network fluidity in Los Angeles and Long Beach. \u003c/p\u003e\u003ch3\u003eService metrics show worst is over \u003c/h3\u003e\u003cp\u003eDespite recent improvement, UP and BNSF service was inconsistent between September and mid-October. After UP reported that an average of 58 loaded intermodal railcars idled for more than 48 hours per week between January and August, that rose to 139 railcars in September and then jumped to 231.5 in the first half of October, surpassing levels seen during the pandemic surge. \u003c/p\u003e\u003cp\u003eHowever, in the past four weeks, UP’s average has dropped to 131.3 railcars per week, according to data from the US Surface Transportation Board. BNSF reported a similar trend. \u003c/p\u003e\u003cp\u003eBoth western US railroads also reported slower train speeds and an increase in the number of delayed intermodal trains during September and early October before the metrics improved in the last four weeks. \u003c/p\u003e\u003cp\u003eDespite those service gains, some IMC partners remain concerned. Two IMC executives who did not want to be identified said ongoing service issues on UP’s network are a threat to the ability of their companies to retain current customers and attract new ones. \u003c/p\u003e\u003cp\u003e“It’s better than it was a month ago, but service is still not where it needs to be, and with UPS ramping up holiday shipments, that’s not helping things,” said one executive. “The problem is inside the terminals. They’ve got terminal issues in Los Angeles, in Houston, in Memphis. I understand service challenges arise with record volumes. But two-week transit times from Los Angeles to Houston, or San Antonio? How do I explain that to our customers?” \u003c/p\u003e\u003cp\u003eA second IMC executive shared similar frustrations, especially when attempting to convert truckload freight to rail in Southern California. \u003c/p\u003e\u003cp\u003e“When we have that opportunity in hand for a truck conversion, we can save the shipper money, and we’ve finally convinced the shipper to try the intermodal product, it’s disheartening when it’s not a positive experience, leaving a poor first impression,” the source said. “I recently explained to a new customer that shipping early in the week was the best way to get cargo onto the train. But if you think about it, they could just say, ‘Well, I’m just going to put it on a truck, and I don’t have to worry about anything.’” \u003c/p\u003e\u003cp\u003eUP, for its part, acknowledges that there have been “episodic” events that have caused service disruptions in recent weeks, but says it’s the result of IMCs winning new business and taking market share off the highways, thus showing the strength of intermodal. With fluidity returning to its network, UP also said it believes shippers moving freight off the highways will have a better experience going forward. \u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Ari Ashe at \u003c/i\u003e\u003ca href=\"mailto:ari.ashe@spglobal.com\"\u003e\u003ci\u003eari.ashe@spglobal.com\u003c/i\u003e\u003c/a\u003e\u003ci\u003e.\u003c/i\u003e \u003c/p\u003e\u003c/div\u003e","Metadata":{"BylineOverwrite":null,"AuthorCompanyOrEventLink":null,"PaywallLocked":true,"FeatureImageCopyright":"Domestic intermodal volumes surge in August through October before tailing off in November, but that easing has not happened this year. Photo credit: devande / Shutterstock.com.","__typename":"Metadata"},"ModDate":"1732042334207","Taxonomy":{"MainCategory":[{"Id":"51","Name":"North-American rail","Redirects":[{"Path":"/surface/rail-news/north-american-rail","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"AdditionalCategories":[{"Id":"53","Name":"Intermodal providers","Redirects":[{"Path":"/surface/rail-news/intermodal-providers","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"Ari Ashe, Senior Editor","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1732039334000","TitlePlainText":"UP hikes LA-LB surcharges again as volumes remain elevated","Published":true,"Redirects":[{"Path":"/article/up-hikes-la-lb-surcharges-again-as-volumes-remain-elevated-5820708","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eThe new charges apply to both spot market business originating in Southern California and to contractual agreements when weekly limits are surpassed by shippers using rail-owned containers.\u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"The new charges apply to both spot market business originating in Southern California and to contractual agreements when weekly limits are surpassed by shippers using rail-owned containers.","__typename":"Document"}],"pinnedArticle":null}},"featuredGatewayChart":{"ChartDTO":{"newsLinks":[{"link":"/article/european-congestion-fears-allayed-thus-far-vessel-arrivals-spread-out_20240213.html","featured":false},{"link":"/article/global-ocean-volume-in-q3-beat-pandemic-record-blue-alpha-capital-5821960","featured":false}],"chart":{"Id":"95ba5ca6-ad28-4377-9c60-62bb7d85a482","Name":"Container vessel delivery by ships size, and demolition (Sea-web) Gateway","Headline":"Delivery and demolition of container vessel capacity (Sea-web)","Subheading":"","Themes":["am4themes_animated"],"Config":"{\"tooltipContainer\":{\"layout\":\"absolute\",\"children\":[{\"id\":\"textBox\",\"type\":\"Label\",\"text\":\"\",\"fontSize\":12,\"align\":\"left\",\"valign\":\"top\",\"maxWidth\":150,\"marginLeft\":100,\"marginBottom\":10,\"marginTop\":90,\"paddingLeft\":5,\"paddingRight\":5,\"zIndex\":5,\"forceCreate\":true,\"wrap\":true,\"background\":{\"type\":\"Rectangle\",\"stroke\":\"#7e7f7f\"}},{},{}]},\"type\":\"XYChart\",\"xAxes\":[{\"type\":\"DateAxis\",\"endLocation\":1,\"renderer\":{\"grid\":{\"template\":{\"type\":\"Grid\",\"visible\":false}},\"minGridDistance\":50}}],\"yAxes\":[{\"type\":\"ValueAxis\",\"id\":\"axis1\",\"title\":{\"type\":\"Label\",\"text\":\"TEU capacity\",\"marginLeft\":15,\"fontSize\":18,\"fontWeight\":\"bold\"},\"min\":\"\",\"max\":\"\",\"renderer\":{\"grid\":{\"template\":{\"type\":\"Grid\",\"visible\":false}},\"maxLabelPosition\":0.9}},{\"type\":\"DurationAxis\",\"id\":\"Do not change! 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