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class="c-breadcrumbs__item"><a href="/" class="c-breadcrumbs__link"> Home </a></div><div class="c-breadcrumbs__item"><span class="material-symbols-outlined">chevron_right</span><a href="/maritime" class="c-breadcrumbs__link "> maritime </a></div><div class="c-breadcrumbs__item"><span class="material-symbols-outlined">chevron_right</span><a href="/maritime/container-shipping-news" class="c-breadcrumbs__link "> container shipping news </a></div><div class="c-breadcrumbs__item"><span class="material-symbols-outlined">chevron_right</span><a href="/maritime/container-shipping-news/trans-pacific" class="c-breadcrumbs__link c-breadcrumbs__link--active "> trans-pacific </a></div></div></div><h1 class="Heading_heading__h8IMw Heading_bold__h_y9l Heading_dark__jmb5G" style="font-size:var(--font-size-jumbo-fluid)">Trans-Pacific</h1></div><h2 class="Heading_heading__h8IMw Heading_bold__h_y9l Heading_dark__jmb5G" style="font-size:var(--font-size-2)">The latest <i>Trans-Pacific</i> News & Analysis</h2><div class="HorizontalCard_card__m_kFd" data-cy="horizontal-card"><a href="/article/us-retailers-prepare-for-new-ila-strike-threat-tariffs-on-china-imports-5822904" class="HorizontalCard_wrapper__vePDl"><div class="HorizontalCard_imageWrapper__vI_1_" style="aspect-ratio:1 / 1" data-cy="image-wrapper"><img alt="" loading="lazy" decoding="async" data-nimg="fill" class="HorizontalCard_image__XC0zN" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent" src="/images/phoenix/5822886_0.1.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">US retailers prepare for new ILA strike threat, tariffs on China imports</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Mark Szakonyi, Executive Editor | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">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.</div><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Container Shipping News</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Supply chain</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Port News</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Transport, Trade and Regulation News</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Trans-Pacific</span></span></div></a></div><div class="HorizontalCard_card__m_kFd" data-cy="horizontal-card"><a href="/article/maersks-methanol-ship-conversion-tests-retrofitting-business-case-5822762" class="HorizontalCard_wrapper__vePDl"><div class="HorizontalCard_imageWrapper__vI_1_" style="aspect-ratio:1 / 1" data-cy="image-wrapper"><img alt="" loading="lazy" decoding="async" data-nimg="fill" class="HorizontalCard_image__XC0zN" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent" src="/images/phoenix/5822752_0.1.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">Maersk’s methanol ship conversion tests retrofitting business case</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Greg Knowler, Senior Editor Europe | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">Converting an existing vessel to be able to operate on methanol requires major engineering work and could cost more than building a new ship with a shorter time to depreciate the investment, according to the carrier.</div><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Maritime</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Container Shipping News</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Container lines</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Trans-Atlantic</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Asia-Europe</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Trans-Pacific</span></span></div></a></div><div class="HorizontalCard_card__m_kFd" data-cy="horizontal-card"><a href="/article/global-ocean-volume-in-q3-beat-pandemic-record-blue-alpha-capital-5821960" class="HorizontalCard_wrapper__vePDl"><div class="HorizontalCard_imageWrapper__vI_1_" style="aspect-ratio:1 / 1" data-cy="image-wrapper"><img alt="" loading="lazy" decoding="async" data-nimg="fill" class="HorizontalCard_image__XC0zN" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent" src="/images/phoenix/5821940_0.1.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">Global ocean volume in Q3 beat pandemic record: Blue Alpha Capital</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Greg Knowler, Senior Editor Europe | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">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.</div><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Maritime</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Container Shipping News</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Container lines</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Trans-Atlantic</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Asia-Europe</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Trans-Pacific</span></span></div></a></div><div class="HorizontalCard_card__m_kFd" data-cy="horizontal-card"><a href="/article/us-importers-dabbling-in-frontloading-ahead-of-new-tariff-threat-5821448" class="HorizontalCard_wrapper__vePDl"><div class="HorizontalCard_imageWrapper__vI_1_" style="aspect-ratio:1 / 1" data-cy="image-wrapper"><img alt="" loading="lazy" decoding="async" data-nimg="fill" class="HorizontalCard_image__XC0zN" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent" src="/images/phoenix/5821442_0.1.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">US importers dabbling in frontloading ahead of new tariff threat</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Mark Szakonyi, Executive Editor | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">While there is some frontloading of US imports from China to get ahead of expected tariffs in the coming Trump administration, most cargo owners appear to be holding their fire, writes Journal of Commerce Executive Editor Mark Szakonyi.</div><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Trans-Pacific</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Port News</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Container lines</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">North American ports</span></span></div></a></div><div class="HorizontalCard_card__m_kFd" data-cy="horizontal-card"><a href="/article/nyshex-says-will-launch-ocean-freight-rate-indexes-next-year-5820643" class="HorizontalCard_wrapper__vePDl"><div class="HorizontalCard_imageWrapper__vI_1_" style="aspect-ratio:1 / 1" data-cy="image-wrapper"><img alt="" loading="lazy" decoding="async" data-nimg="fill" class="HorizontalCard_image__XC0zN" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent" src="/images/phoenix/5820672_0.1.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">NYSHEX says will launch ocean freight rate indexes next year</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Eric Johnson, Senior Technology Editor | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">The New York Shipping Exchange’s plan to introduce indexes to support long-term contracts adds to an already crowded field of providers.</div><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Container Shipping News</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Logistics Technology News</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Container lines</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Trans-Atlantic</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Forwarding</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Asia-Europe</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Trans-Pacific</span></span></div></a></div><div class="HorizontalCard_card__m_kFd" data-cy="horizontal-card"><a href="/article/importers-navigate-two-year-high-rail-container-dwells-in-los-angeles-long-beach-5819920" class="HorizontalCard_wrapper__vePDl"><div class="HorizontalCard_imageWrapper__vI_1_" style="aspect-ratio:1 / 1" data-cy="image-wrapper"><img alt="" loading="lazy" decoding="async" data-nimg="fill" class="HorizontalCard_image__XC0zN" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent" src="/images/phoenix/5819898_0.1.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">Importers navigate two-year high rail container dwells in Los Angeles-Long Beach</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Bill Mongelluzzo, Senior Editor | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">Forwarders and industry analysts forecast strong import volumes through the early Lunar New Year that begins Jan. 29 as importers of time-sensitive merchandise and manufacturing components route shipments through the country’s busiest gateway.</div><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Maritime</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Container Shipping News</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Port News</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Trans-Pacific</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">North American ports</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Marine terminals</span></span></div></a></div><div class="HorizontalCard_card__m_kFd" data-cy="horizontal-card"><a href="/article/cma-cgm-profits-soar-on-higher-pricing-early-peak-seasons-5790089" class="HorizontalCard_wrapper__vePDl"><div class="HorizontalCard_imageWrapper__vI_1_" style="aspect-ratio:1 / 1" data-cy="image-wrapper"><img alt="" loading="lazy" decoding="async" data-nimg="fill" class="HorizontalCard_image__XC0zN" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent" src="/images/phoenix/5790105_0.1.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">CMA CGM profits soar on higher pricing, early peak seasons</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Keith Wallis, Special Correspondent | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">CMA CGM’s group net profit rocketed to $2.7 billion in the third quarter, thanks to stronger pricing power and earlier peak seasons for North American and European importers.</div><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Container lines</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Container Shipping News</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Trans-Pacific</span></span></div></a></div><div class="HorizontalCard_card__m_kFd" data-cy="horizontal-card"><a href="/article/us-retailers-ramping-up-year-end-imports-ahead-of-strike-tariff-threats-5790084" class="HorizontalCard_wrapper__vePDl"><div class="HorizontalCard_imageWrapper__vI_1_" style="aspect-ratio:1 / 1" data-cy="image-wrapper"><img alt="" loading="lazy" decoding="async" data-nimg="fill" class="HorizontalCard_image__XC0zN" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent" src="/images/phoenix/5790095_0.1.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">US retailers ramping up year-end imports ahead of strike, tariff threats</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Bill Mongelluzzo, Senior Editor | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">US retailers plan to significantly increase imports in November and December compared with projections from just one month ago following Donald Trump’s election to a second term.</div><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Container lines</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Port News</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Trans-Pacific</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">North American ports</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">International ports</span></span></div></a></div><div class="HorizontalCard_card__m_kFd" data-cy="horizontal-card"><a href="/article/cma-cgm-reinstates-suez-transits-on-india-us-route-5789989" class="HorizontalCard_wrapper__vePDl"><div class="HorizontalCard_imageWrapper__vI_1_" style="aspect-ratio:1 / 1" data-cy="image-wrapper"><img alt="" loading="lazy" decoding="async" data-nimg="fill" class="HorizontalCard_image__XC0zN" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent" src="/images/phoenix/5790006_0.1.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">CMA CGM reinstates Suez transits on India-US route</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Bency Mathew, Special Correspondent | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">Among the major container lines, CMA CGM has taken the lead in reinstating shorter Suez Canal routings, offering India exporters to North America shorter transits than the majority of other services sailing around southern Africa.</div><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Container lines</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Maritime</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Port News</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Trans-Pacific</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">North American ports</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">International ports</span></span></div></a></div><div class="HorizontalCard_card__m_kFd" data-cy="horizontal-card"><a href="/article/early-lunar-new-year-tariffs-strike-risk-underpin-q4-strength-in-ocean-freight-5788905" class="HorizontalCard_wrapper__vePDl"><div class="HorizontalCard_imageWrapper__vI_1_" style="aspect-ratio:1 / 1" data-cy="image-wrapper"><img alt="" loading="lazy" decoding="async" data-nimg="fill" class="HorizontalCard_image__XC0zN" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent" src="/images/phoenix/5788898_0.1.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">Early Lunar New Year, tariffs, strike risk underpin Q4 strength in ocean freight</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Michael Angell, Senior Editor | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">The bullish fundamentals are expected to keep US imports healthy as the year ends and put a floor under rates, according to participants at this year’s CONECT conference.</div><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Trans-Pacific</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Container lines</span></span></div></a></div><div class="HorizontalCard_card__m_kFd" data-cy="horizontal-card"><a href="/article/hapag-lloyd-makes-4-billion-move-down-lng-path-with-24-ship-dual-fuel-order-5787368" class="HorizontalCard_wrapper__vePDl"><div class="HorizontalCard_imageWrapper__vI_1_" style="aspect-ratio:1 / 1" data-cy="image-wrapper"><img alt="" loading="lazy" decoding="async" data-nimg="fill" class="HorizontalCard_image__XC0zN" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent" src="/images/phoenix/5787413_0.1.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">Hapag-Lloyd makes $4 billion move down LNG path with 24-ship dual-fuel order</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Greg Knowler, Senior Editor Europe | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">The carrier has been restrained with its order book up to now, but the order for 312,000 TEUs of capacity comes as pressure to meet 2030 interim decarbonization targets intensifies.</div><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Maritime</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Container lines</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Trans-Atlantic</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Asia-Europe</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Trans-Pacific</span></span></div></a></div><div class="HorizontalCard_card__m_kFd" data-cy="horizontal-card"><a href="/article/scrapping-slow-steaming-demand-will-limit-capacity-overhang-clerc-5785020" class="HorizontalCard_wrapper__vePDl"><div class="HorizontalCard_imageWrapper__vI_1_" style="aspect-ratio:1 / 1" data-cy="image-wrapper"><img alt="" loading="lazy" decoding="async" data-nimg="fill" class="HorizontalCard_image__XC0zN" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent" src="/images/phoenix/5784879_0.1.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">Scrapping, slow steaming, demand will limit capacity overhang: Clerc</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Greg Knowler, Senior Editor Europe | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">A series of factors are bending the capacity curve back in favor of carriers and could lead to an improved supply-demand balance next year despite a large capacity overhang, believes the Maersk CEO.</div><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Maritime</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Container Shipping News</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Container lines</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Trans-Atlantic</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Asia-Europe</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Trans-Pacific</span></span></div></a></div><div class="HorizontalCard_card__m_kFd" data-cy="horizontal-card"><a href="/article/gemini-faces-13-week-phase-in-before-90-reliability-promise-is-tested-clerc-5783839" class="HorizontalCard_wrapper__vePDl"><div class="HorizontalCard_imageWrapper__vI_1_" style="aspect-ratio:1 / 1" data-cy="image-wrapper"><img alt="" loading="lazy" decoding="async" data-nimg="fill" class="HorizontalCard_image__XC0zN" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent" src="/images/phoenix/5783819_0.1.JPG"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">Gemini faces 13-week phase-in before 90% reliability promise is tested: Clerc</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Greg Knowler, Senior Editor Europe | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">The new network will have a grace period for about three months as the first full port rotations are completed but must then quickly prove it can raise on-time performance to the promised levels, says Maersk’s CEO.</div><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Maritime</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Container Shipping News</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Container lines</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Trans-Atlantic</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Asia-Europe</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Trans-Pacific</span></span></div></a></div><div class="HorizontalCard_card__m_kFd" data-cy="horizontal-card"><a href="/article/freight-rates-supported-by-bullish-fundamentals-to-persist-through-q4-matson-5783197" class="HorizontalCard_wrapper__vePDl"><div class="HorizontalCard_imageWrapper__vI_1_" style="aspect-ratio:1 / 1" data-cy="image-wrapper"><img alt="" loading="lazy" decoding="async" data-nimg="fill" class="HorizontalCard_image__XC0zN" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent" src="/images/phoenix/5783880_0.1.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">Freight rates supported by bullish fundamentals to persist through Q4: Matson</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Laura Robb, Associate Editor | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">While conventional retailers were decreasing their orders, the growth of e-commence shipments from Asia was more consistent as elevated air cargo rates pushed more shippers to move goods via ocean transport, the carrier’s CEO said.</div><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Trans-Pacific</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Container Shipping News</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Port News</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Container lines</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">North American ports</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Longshore labor</span></span></div></a></div><div class="HorizontalCard_card__m_kFd" data-cy="horizontal-card"><a href="/article/maersks-existing-fleet-size-sufficient-to-handle-short-term-demand-growth-ceo-5782669" class="HorizontalCard_wrapper__vePDl"><div class="HorizontalCard_imageWrapper__vI_1_" style="aspect-ratio:1 / 1" data-cy="image-wrapper"><img alt="" loading="lazy" decoding="async" data-nimg="fill" class="HorizontalCard_image__XC0zN" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent" src="/images/phoenix/5782661_0.1.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">Maersk’s existing fleet size sufficient to handle short-term demand growth: CEO</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Greg Knowler, Senior Editor Europe | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">Fewer port calls in the Gemini network will allow the carrier to move greater volumes with the same number of ships, Vincent Clerc said while reporting a highly profitable third quarter.</div><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Maritime</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Container Shipping News</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Container lines</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Trans-Atlantic</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Asia-Europe</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Trans-Pacific</span></span></div></a></div><div class="HorizontalCard_card__m_kFd" data-cy="horizontal-card"><a href="/article/strong-imports-low-blanks-extend-peak-season-on-eastbound-trans-pacific-5782101" class="HorizontalCard_wrapper__vePDl"><div class="HorizontalCard_imageWrapper__vI_1_" style="aspect-ratio:1 / 1" data-cy="image-wrapper"><img alt="" loading="lazy" decoding="async" data-nimg="fill" class="HorizontalCard_image__XC0zN" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent" src="/images/phoenix/5782079_0.1.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">Strong imports, low blanks extend peak season on eastbound trans-Pacific</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Bill Mongelluzzo, Senior Editor and Laura Robb, Associate Editor  | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">Import demand from Asia, which typically tapers ahead of Black Friday sales, is holding steady, fueled by resilient retail sales, tariff concerns and the mid-January expiration of the tentative ILA labor agreement.</div><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Maritime</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Container Shipping News</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Port News</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Container lines</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Forwarding</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Trans-Pacific</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">North American ports</span></span></div></a></div><div class="HorizontalCard_card__m_kFd" data-cy="horizontal-card"><a href="/article/maersk-secures-long-term-methanol-supply-in-china-production-deal-5781961" class="HorizontalCard_wrapper__vePDl"><div class="HorizontalCard_imageWrapper__vI_1_" style="aspect-ratio:1 / 1" data-cy="image-wrapper"><img alt="" loading="lazy" decoding="async" data-nimg="fill" class="HorizontalCard_image__XC0zN" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent" src="/images/phoenix/5781827_0.1.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">Maersk secures long-term methanol supply in China production deal</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Greg Knowler, Senior Editor Europe | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">With this latest deal, the combined methanol offtake agreements Maersk now has in place will meet half the demand from its fast-growing dual-fuel fleet in 2027.</div><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Maritime</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Container Shipping News</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Container lines</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Trans-Atlantic</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Asia-Europe</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Trans-Pacific</span></span></div></a></div><div class="HorizontalCard_card__m_kFd" data-cy="horizontal-card"><a href="/article/us-export-market-navigating-disruptive-peak-season-amid-ag-shipment-growth-5778669" class="HorizontalCard_wrapper__vePDl"><div class="HorizontalCard_imageWrapper__vI_1_" style="aspect-ratio:1 / 1" data-cy="image-wrapper"><img alt="" loading="lazy" decoding="async" data-nimg="fill" class="HorizontalCard_image__XC0zN" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent" src="/images/phoenix/5778659_0.1.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">US export market navigating ‘disruptive’ peak season amid ag shipment growth</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Laura Robb, Associate Editor | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">Shippers and forwarders are reporting slowdowns at several inland gateways that are linked to seasonality, equipment placement, labor disruption and carrier behavior.</div><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Container Shipping News</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Port News</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Rail News</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Container lines</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Trans-Pacific</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">North American ports</span></span></div></a></div><div class="HorizontalCard_card__m_kFd" data-cy="horizontal-card"><a href="/article/hapag-lloyd-raises-full-year-forecast-on-stronger-than-expected-q3-5773418" class="HorizontalCard_wrapper__vePDl"><div class="HorizontalCard_imageWrapper__vI_1_" style="aspect-ratio:1 / 1" data-cy="image-wrapper"><img alt="" loading="lazy" decoding="async" data-nimg="fill" class="HorizontalCard_image__XC0zN" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent" src="/images/phoenix/5773385_0.1.PNG"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">Hapag-Lloyd raises full-year forecast on ‘stronger than expected’ Q3</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Greg Knowler, Senior Editor Europe | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">The first signs of solid third-quarter performances are being reported by ocean carriers, and with greater visibility over the rest of the year, they are ramping up their profitability expectations.</div><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Maritime</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Container Shipping News</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Container lines</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Trans-Atlantic</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Asia-Europe</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Trans-Pacific</span></span></div></a></div><div class="HorizontalCard_card__m_kFd" data-cy="horizontal-card"><a href="/article/maersk-hikes-full-year-profit-forecast-amid-expected-strong-q3-financials-5771869" class="HorizontalCard_wrapper__vePDl"><div class="HorizontalCard_imageWrapper__vI_1_" style="aspect-ratio:1 / 1" data-cy="image-wrapper"><img alt="" loading="lazy" decoding="async" data-nimg="fill" class="HorizontalCard_image__XC0zN" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent" src="/images/phoenix/5771845_0.1.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">Maersk hikes full-year profit forecast amid expected strong Q3 financials</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Greg Knowler, Senior Editor Europe | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">It marks the second time since August the carrier has increased its 2024 earnings guidance, an indication Maersk expects robust demand and rising rates to deliver a strong finish to the year.</div><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Maritime</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Container Shipping News</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Container lines</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Trans-Atlantic</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Asia-Europe</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Trans-Pacific</span></span></div></a></div><div class="HorizontalCard_card__m_kFd" data-cy="horizontal-card"><a href="/article/la-lb-rail-dwells-spike-to-two-year-high-amid-record-imports-in-september-5750222" class="HorizontalCard_wrapper__vePDl"><div class="HorizontalCard_imageWrapper__vI_1_" style="aspect-ratio:1 / 1" data-cy="image-wrapper"><img alt="" loading="lazy" decoding="async" data-nimg="fill" class="HorizontalCard_image__XC0zN" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent" src="/images/phoenix/5750190_0.1.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">LA-LB rail dwells spike to two-year high amid record imports in September</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Laura Robb, Associate Editor and Bill Mongelluzzo, Senior Editor | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">Forwarders say their containers are sitting at some terminals for 10 days or longer before they can be retrieved, although some relief in import volumes and dwell times is expected next month.</div><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Maritime</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Container Shipping News</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Port News</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Trans-Pacific</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">North American ports</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Marine terminals</span></span></div></a></div><div class="HorizontalCard_card__m_kFd" data-cy="horizontal-card"><a href="/article/strike-surcharges-disappear-as-spot-rates-for-us-west-east-coasts-near-parity-5747268" class="HorizontalCard_wrapper__vePDl"><div class="HorizontalCard_imageWrapper__vI_1_" style="aspect-ratio:1 / 1" data-cy="image-wrapper"><img alt="" loading="lazy" decoding="async" data-nimg="fill" class="HorizontalCard_image__XC0zN" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent" src="/images/phoenix/5747253_0.1.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">Strike surcharges disappear as spot rates for US West, East coasts near parity</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Laura Robb, Associate Editor | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">Carriers began pulling the charges shortly after the end of the strike was announced last week, while pressure to do so came even earlier from Transportation Secretary Pete Buttigieg.</div><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Maritime</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Container Shipping News</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Container lines</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Trans-Pacific</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Longshore labor</span></span></div></a></div><div class="HorizontalCard_card__m_kFd" data-cy="horizontal-card"><a href="/article/heavy-frontloading-sets-up-us-asia-trade-for-falling-rates-imports-5746649" class="HorizontalCard_wrapper__vePDl"><div class="HorizontalCard_imageWrapper__vI_1_" style="aspect-ratio:1 / 1" data-cy="image-wrapper"><img alt="" loading="lazy" decoding="async" data-nimg="fill" class="HorizontalCard_image__XC0zN" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent" src="/images/phoenix/5746608_0.1.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">Heavy frontloading sets up US-Asia trade for falling rates, imports</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Bill Mongelluzzo, Senior Editor and Laura Robb, Associate Editor | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">The huge import volumes that moved across US docks in August are also muting the post-Golden Week bounce that normally occurs in mid-October when retailers ship their high-value holiday merchandise through the West Coast.</div><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Maritime</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Container Shipping News</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Port News</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Trans-Pacific</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">North American ports</span></span></div></a></div><div class="HorizontalCard_card__m_kFd" data-cy="horizontal-card"><a href="/article/window-to-divert-strike-affected-imports-to-west-coast-closing-soon-5741052" class="HorizontalCard_wrapper__vePDl"><div class="HorizontalCard_imageWrapper__vI_1_" style="aspect-ratio:1 / 1" data-cy="image-wrapper"><img alt="" loading="lazy" decoding="async" data-nimg="fill" class="HorizontalCard_image__XC0zN" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent" src="/images/phoenix/5740986_0.1.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">Window to divert strike-affected imports to West Coast closing soon</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Bill Mongelluzzo, Senior Editor | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">If the International Longshoremen’s Association (ILA) strike continues past next week, shippers say they will likely book more freight through West Coast ports, rather than risk being caught up in logjams at East and Gulf coast ports.</div><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Trans-Pacific</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Longshore labor</span></span></div></a></div><div class="HorizontalCard_card__m_kFd" data-cy="horizontal-card"><a href="/article/zim-becomes-first-carrier-to-commit-to-reopened-leatherman-terminal-5735909" class="HorizontalCard_wrapper__vePDl"><div class="HorizontalCard_imageWrapper__vI_1_" style="aspect-ratio:1 / 1" data-cy="image-wrapper"><img alt="" loading="lazy" decoding="async" data-nimg="fill" class="HorizontalCard_image__XC0zN" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent" src="/images/phoenix/5735926_0.1.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">Zim becomes first carrier to commit to reopened Leatherman terminal</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Michael Angell, Senior Editor | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">The $1 billion facility at the Port of Charleston has sat largely idle since its opening in 2021 amid a protracted dispute with the ILA over control of crane operator jobs.</div><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">North American ports</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Container Shipping News</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Container lines</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Trans-Pacific</span></span></div></a></div><div class="HorizontalCard_card__m_kFd" data-cy="horizontal-card"><a href="/article/asia-us-east-coast-spot-rates-plummet-amid-strike-threat-cargo-diversions-5733185" class="HorizontalCard_wrapper__vePDl"><div class="HorizontalCard_imageWrapper__vI_1_" style="aspect-ratio:1 / 1" data-cy="image-wrapper"><img alt="" loading="lazy" decoding="async" data-nimg="fill" class="HorizontalCard_image__XC0zN" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent" src="/images/phoenix/5733196_0.1.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">Asia-US East Coast spot rates plummet amid strike threat cargo diversions</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Laura Robb, Associate Editor | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">Front-loaded cargo has dried up ahead of potential labor disruption on the East and Gulf coasts, putting heavy pressure on container spot rates from Asia.</div><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Maritime</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Container Shipping News</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Port News</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Container lines</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Trans-Pacific</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">North American ports</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Longshore labor</span></span></div></a></div><div class="HorizontalCard_card__m_kFd" data-cy="horizontal-card"><a href="/article/dsv-takeover-signals-end-to-150-years-of-db-schenker-brand-5730873" class="HorizontalCard_wrapper__vePDl"><div class="HorizontalCard_imageWrapper__vI_1_" style="aspect-ratio:1 / 1" data-cy="image-wrapper"><img alt="" loading="lazy" decoding="async" data-nimg="fill" class="HorizontalCard_image__XC0zN" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent" src="/images/phoenix/5730872_0.1.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">DSV takeover signals end to 150 years of DB Schenker brand</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Greg Knowler, Senior Editor Europe | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">While there are still regulatory hurdles to clear, a spokesperson for DSV told the Journal of Commerce the combined company “will continue under the DSV brand” going forward.</div><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Supply chain</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Air Cargo Forwarder News</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Forwarding</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Trans-Pacific</span></span></div></a></div><div class="HorizontalCard_card__m_kFd" data-cy="horizontal-card"><a href="/article/some-carriers-seek-to-reopen-202425-fixed-rate-contracts-in-trans-pac-nvos-5727340" class="HorizontalCard_wrapper__vePDl"><div class="HorizontalCard_imageWrapper__vI_1_" style="aspect-ratio:1 / 1" data-cy="image-wrapper"><img alt="" loading="lazy" decoding="async" data-nimg="fill" class="HorizontalCard_image__XC0zN" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent" src="/images/phoenix/5727327_0.1.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">Some carriers seek to reopen 2024–25 fixed-rate contracts in trans-Pac: NVOs</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Bill Mongelluzzo, Senior Editor | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">It’s a play by carriers to tempt NVOs with a reopened annual contract that, while higher than the deal they signed last spring, is still below current spot rates that have fallen from an early-summer peak.</div><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Maritime</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Container Shipping News</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Container lines</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Trans-Pacific</span></span></div></a></div><div class="HorizontalCard_card__m_kFd" data-cy="horizontal-card"><a href="/article/us-retailers-give-big-upgrade-to-september-import-forecast-amid-strike-threat-5725043" class="HorizontalCard_wrapper__vePDl"><div class="HorizontalCard_imageWrapper__vI_1_" style="aspect-ratio:1 / 1" data-cy="image-wrapper"><img alt="" loading="lazy" decoding="async" data-nimg="fill" class="HorizontalCard_image__XC0zN" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent" src="/images/phoenix/5725036_0.1.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">US retailers give big upgrade to September import forecast amid strike threat</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Laura Robb, Associate Editor | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">The Global Port Tracker now projects US imports this month will hit 2.31 million TEUs, up 14% from the same month a year ago; last month’s report expected the year-over-year increase for September to be 6.5%.</div><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Maritime</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Container Shipping News</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Port News</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Container lines</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Trans-Pacific</span></span></div></a></div><div class="HorizontalCard_card__m_kFd" data-cy="horizontal-card"><a href="/article/east-coast-spot-rates-plunge-as-peak-season-imports-shift-to-west-coast-5723993" class="HorizontalCard_wrapper__vePDl"><div class="HorizontalCard_imageWrapper__vI_1_" style="aspect-ratio:1 / 1" data-cy="image-wrapper"><img alt="" loading="lazy" decoding="async" data-nimg="fill" class="HorizontalCard_image__XC0zN" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent" src="/images/phoenix/5723992_0.1.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">East Coast spot rates plunge as peak-season imports shift to West Coast</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Bill Mongelluzzo, Senior Editor | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">Spot rates from Asia to the US East Coast are dropping faster than in past years as carriers route discretionary shipments to the West Coast to avoid getting caught up in a threatened dockworker strike on the East and Gulf coasts.</div><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Maritime</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Container Shipping News</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Trans-Atlantic</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Trans-Pacific</span></span></div></a></div><div class="HorizontalCard_card__m_kFd" data-cy="horizontal-card"><a href="/article/msc-strikes-asia-europe-slot-share-with-former-thea-members-5723585" class="HorizontalCard_wrapper__vePDl"><div class="HorizontalCard_imageWrapper__vI_1_" style="aspect-ratio:1 / 1" data-cy="image-wrapper"><img alt="" loading="lazy" decoding="async" data-nimg="fill" class="HorizontalCard_image__XC0zN" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent" src="/images/phoenix/5723582_0.1.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">MSC strikes Asia-Europe slot share with former THEA members</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Keith Wallis, Special Correspondent | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">Mediterranean Shipping Co. is wasting no time utilizing its huge scale, striking major slot sharing agreements on the Asia-Europe with new Premiere alliance members.</div><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Maritime</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Container Shipping News</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Container lines</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Trans-Atlantic</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Asia-Europe</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Trans-Pacific</span></span></div></a></div><div class="HorizontalCard_card__m_kFd" data-cy="horizontal-card"><a href="/article/blank-sailings-cargo-push-help-reverse-rate-slide-on-asia-mexico-trade-5721770" class="HorizontalCard_wrapper__vePDl"><div class="HorizontalCard_imageWrapper__vI_1_" style="aspect-ratio:1 / 1" data-cy="image-wrapper"><img alt="" loading="lazy" decoding="async" data-nimg="fill" class="HorizontalCard_image__XC0zN" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent" src="/images/phoenix/5721763_0.1.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">Blank sailings, cargo push help reverse rate slide on Asia-Mexico trade</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Laura Robb, Associate Editor | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">A big jump in spot rates was pegged to the cascading impacts of blank sailings and a volume rush from shippers ahead of China’s Golden Week holiday in October.</div><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Maritime</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Container Shipping News</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Port News</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Container lines</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Trans-Pacific</span></span></div></a></div><div class="HorizontalCard_card__m_kFd" data-cy="horizontal-card"><a href="/article/carriers-to-deploy-extra-loaders-to-los-angeles-long-beach-amid-import-surge-5714861" class="HorizontalCard_wrapper__vePDl"><div class="HorizontalCard_imageWrapper__vI_1_" style="aspect-ratio:1 / 1" data-cy="image-wrapper"><img alt="" loading="lazy" decoding="async" data-nimg="fill" class="HorizontalCard_image__XC0zN" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent" src="/images/phoenix/5714835_0.1.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">Carriers to deploy ‘extra-loaders’ to Los Angeles-Long Beach amid import surge</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Bill Mongelluzzo, Senior Editor | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">The added capacity — 14 extra-loaders at each port — comes amid peak season demand and an anticipated boost in discretionary cargo diverted from ports along the US East and Gulf coasts as shippers protect themselves from potential longshore labor disruption.</div><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Maritime</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Container Shipping News</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Port News</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Container lines</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Trans-Pacific</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">North American ports</span></span></div></a></div><div class="HorizontalCard_card__m_kFd" data-cy="horizontal-card"><a href="/article/la-lb-rail-dwells-on-the-rise-as-port-complex-enters-height-of-peak-season-5712900" class="HorizontalCard_wrapper__vePDl"><div class="HorizontalCard_imageWrapper__vI_1_" style="aspect-ratio:1 / 1" data-cy="image-wrapper"><img alt="" loading="lazy" decoding="async" data-nimg="fill" class="HorizontalCard_image__XC0zN" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent" src="/images/phoenix/5712889_0.1.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">LA-LB rail dwells on the rise as port complex enters height of peak season</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Bill Mongelluzzo, Senior Editor | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">While some customers worry rail container dwell times could worsen, port stakeholders say they are accustomed to the ebb and flow and can manage the recent import surge.</div><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Maritime</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Container Shipping News</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Port News</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Trans-Pacific</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">North American ports</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Marine terminals</span></span></div></a></div><div class="HorizontalCard_card__m_kFd" data-cy="horizontal-card"><a href="/article/portland-pushing-for-third-party-container-terminal-operator-by-january-5712259" class="HorizontalCard_wrapper__vePDl"><div class="HorizontalCard_imageWrapper__vI_1_" style="aspect-ratio:1 / 1" data-cy="image-wrapper"><img alt="" loading="lazy" decoding="async" data-nimg="fill" class="HorizontalCard_image__XC0zN" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent" src="/images/phoenix/5712256_0.1.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">Portland pushing for third-party container terminal operator by January</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Michael Angell, Senior Editor | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">The port is looking to employ the landlord model used at other West Coast ports that would allow a private operator to manage the T6 terminal’s daily operations and market the facility to ocean carriers and shippers.</div><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">North American ports</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Container Shipping News</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Container lines</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Trans-Pacific</span></span></div></a></div><div class="HorizontalCard_card__m_kFd" data-cy="horizontal-card"><a href="/article/capacity-boost-on-trans-pacific-pushes-carriers-to-compete-for-cargo-5711329" class="HorizontalCard_wrapper__vePDl"><div class="HorizontalCard_imageWrapper__vI_1_" style="aspect-ratio:1 / 1" data-cy="image-wrapper"><img alt="" loading="lazy" decoding="async" data-nimg="fill" class="HorizontalCard_image__XC0zN" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent" src="/images/phoenix/5711298_0.1.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">Capacity boost on trans-Pacific pushes carriers to compete for cargo</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Bill Mongelluzzo, Senior Editor | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">Competition to fill ships in the eastbound trans-Pacific has become so intense in recent weeks that ocean carriers are offering a variety of special rates that are much lower than the spot rates they are quoting.</div><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Maritime</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Container Shipping News</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Container lines</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Forwarding</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Trans-Pacific</span></span></div></a></div><div class="HorizontalCard_card__m_kFd" data-cy="horizontal-card"><a href="/article/tacoma-marine-terminals-grappling-with-heavy-import-rail-congestion-5706377" class="HorizontalCard_wrapper__vePDl"><div class="HorizontalCard_imageWrapper__vI_1_" style="aspect-ratio:1 / 1" data-cy="image-wrapper"><img alt="" loading="lazy" decoding="async" data-nimg="fill" class="HorizontalCard_image__XC0zN" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent" src="/images/phoenix/5706345_0.1.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">Tacoma marine terminals grappling with heavy import rail congestion</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Bill Mongelluzzo, Senior Editor, and Ari Ashe, Senior Editor | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">Container lines calling in Tacoma say the congestion is being caused by a surge in import volumes and a shortage of rail cars that is likely to last at least through August.</div><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Maritime</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Container Shipping News</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Port News</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Container lines</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Trans-Pacific</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">North American ports</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Marine terminals</span></span></div></a></div><div class="HorizontalCard_card__m_kFd" data-cy="horizontal-card"><a href="/article/us-port-strike-would-have-red-sea-like-global-impact-zim-cfo-5706354" class="HorizontalCard_wrapper__vePDl"><div class="HorizontalCard_imageWrapper__vI_1_" style="aspect-ratio:1 / 1" data-cy="image-wrapper"><img alt="" loading="lazy" decoding="async" data-nimg="fill" class="HorizontalCard_image__XC0zN" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent" src="/images/phoenix/5706351_0.1.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">US port strike would have Red Sea-like ‘global impact’: ZIM CFO</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Mark Szakonyi, Executive Editor | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">A prolonged work stoppage at ports along the East and Gulf coasts would put global shipping under stress in a manner similar to the forced vessel diversions around southern Africa, Zim’s Xavier Destriau told the Journal of Commerce.</div><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Container lines</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Maritime</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Port News</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Trans-Pacific</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">North American ports</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Longshore labor</span></span></div></a></div><div class="HorizontalCard_card__m_kFd" data-cy="horizontal-card"><a href="/article/ningbo-explosion-closes-port-adds-to-worsening-asian-bottlenecks-5703235" class="HorizontalCard_wrapper__vePDl"><div class="HorizontalCard_imageWrapper__vI_1_" style="aspect-ratio:1 / 1" data-cy="image-wrapper"><img alt="" loading="lazy" decoding="async" data-nimg="fill" class="HorizontalCard_image__XC0zN" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent" src="/images/phoenix/5703236_1.0.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">Ningbo explosion closes port, adds to worsening Asian bottlenecks</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Greg Knowler, Senior Europe Editor, and Keith Wallis, Special Correspondent | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">The closure of one of China’s busiest container ports will add to the lengthening vessel delays being seen on the main Asian export trade lanes, while North Europe grapples with its own congestion woes on the other end.</div><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Maritime</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Container Shipping News</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Container lines</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Forwarding</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Asia-Europe</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Trans-Pacific</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">International ports</span></span></div></a></div><div class="HorizontalCard_card__m_kFd" data-cy="horizontal-card"><a href="/article/near-record-surge-possible-for-us-imports-in-august-retail-group-5703194" 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image","__typename":"Attachment"}],"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":"5822762_JournalOfCommerce","Attachments":[{"FileName":"5822752_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eMaersk has made its first dual-fuel, methanol-capable vessel conversion as the carrier tests the feasibility of retrofitting existing container ships as another way to accelerate the energy transformation of its fleet. \u003c/p\u003e\u003cp\u003eThe \u003ci\u003eMaersk Halifax\u003c/i\u003e returned to trans-Pacific duty in early November after major engineering work in a Chinese yard over 88 days that saw the vessel cut in half so a 15-meter extension could be dropped in to accommodate additional fuel tanks. The ship is now 368 meters long and its capacity has increased from 15,000 TEUs to 15,690 TEUs. \u003c/p\u003e\u003cp\u003e“Since we set the ambitious climate goal of reaching net-zero emissions by 2040, we have explored the potential in retrofitting existing vessels with dual-fuel engines,” Leonardo Sonzio, head of fleet management and technology at Maersk, said in a statement this week. \u003c/p\u003e\u003cp\u003e”In the coming year, we will take learnings from this first conversion of a large vessel,” he added. “Retrofits of existing vessels can be an important alternative to newbuilds in our transition from fossil fuels to low-emission fuels.” \u003c/p\u003e\u003cp\u003eWhile Maersk did not put a price on the conversion, the carrier’s decarbonization head, Morten Bo Christiansen, told reporters in a recent press briefing that there was not yet a clear business case for retrofitting a ship to be methanol capable as it could cost more than building a new vessel. \u003c/p\u003e\u003cp\u003eFor context, Maersk’s 16,592-TEU \u003ci\u003eAlexandra Maersk\u003c/i\u003e that was launched in August, the fifth such vessel in an 18-ship order, was built at a cost of $150 million. \u003c/p\u003e\u003ch3\u003eEffective greenhouse gas framework \u003c/h3\u003e\u003cp\u003eChristiansen said the business case for retrofitting to methanol would depend on whether ongoing International Maritime Organization (IMO) negotiations resulted in an effective greenhouse gas framework. \u003c/p\u003e\u003cp\u003eThere is \u003ca href=\"https://www.joc.com/article/crunch-time-for-regulators-as-shipping-seeks-clarity-on-net-zero-ambitions-5221524\"\u003egrowing urgency for global regulatory support from the IMO\u003c/a\u003e that is essential to drive an accelerated and large-scale shift to zero-emission fuels. The IMO is currently considering mid-term measures that include a pricing mechanism to tax carbon emissions and the establishment of a fuel standard. The measures are aimed at narrowing the price gap between fossil fuels and the green alternatives and must be approved at the MEPC 83 meeting in April if they are to be implemented by the October deadline. \u003c/p\u003e\u003cp\u003e“If the outcome of the ongoing IMO negotiations is an effective greenhouse gas framework, then I think the business case of retrofitting for methanol will be good,” Christiansen told reporters. \u003c/p\u003e\u003cp\u003e“Otherwise, a retrofit will always be more expensive because it costs more than a newbuilding and there is a shorter time to depreciate the investment, so it will always be cheaper to build a new ship,” he added. “But in a good IMO scenario, retrofits for methanol will be a pretty good business case, and for LNG ships.” \u003c/p\u003e\u003cp\u003e\u003ci\u003eMaersk Halifax\u003c/i\u003e is one of 11 Hong Kong-class vessels in the carrier’s fleet. During the conversion process, besides extending the length of the vessel, the retrofit operation at Zhoushan Xinya Shipyard in China involved adding the new fuel tanks, a fuel preparation room and a fuel supply system. \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\u003eAll the top 10 ocean carriers, which operate a combined 84% share of the world’s container ship capacity, have now committed to vessels with alternative propulsion options, according to Alphaliner. The carriers have procured the tonnage both through direct ownership and via long-term charter contracts. \u003c/p\u003e\u003cp\u003eIn August, Maersk placed an order for newbuilding and time charter vessels \u003ca href=\"https://www.joc.com/article/maersks-lng-order-hedges-bet-on-green-fuel-technology-ceo-5703200\"\u003ewith a total capacity of 800,000 TEUs\u003c/a\u003e as part of a fleet renewal program. The vessels will be dual-fuel — capable of running on conventional bunkers and LNG if required, and on bio-LNG, a cleaner version of the fuel.\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":"Maersk Halifax was cut in half and extended by 15 meters in its conversion into a dual-fuel ship able to operate on methanol. Photo credit: Maersk.","__typename":"Metadata"},"ModDate":"1732299914980","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":"1732288577000","TitlePlainText":"Maersk’s methanol ship conversion tests retrofitting business case","Published":true,"Redirects":[{"Path":"/article/maersks-methanol-ship-conversion-tests-retrofitting-business-case-5822762","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eConverting an existing vessel to be able to operate on methanol requires major engineering work and could cost more than building a new ship with a shorter time to depreciate the investment, according to the carrier. \u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"Converting an existing vessel to be able to operate on methanol requires major engineering work and could cost more than building a new ship with a shorter time to depreciate the investment, according to the carrier.","__typename":"Document"},{"Id":"5821960_JournalOfCommerce","Attachments":[{"FileName":"5821940_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"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":"5821448_JournalOfCommerce","Attachments":[{"FileName":"5821199_0.1.jpg","FileType":"Nondownloadable","Title":null,"__typename":"Attachment"},{"FileName":"5821442_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eUS importers are better prepared for the imminent tariffs that President-elect Donald Trump has promised to slap on goods from China, yet the majority don’t seem to be significantly rushing orders to get those goods across the docks ahead of his inauguration. Rather, tariff fears are just one of several factors pushing US importers to book more than usual during this extended peak season. \u003c/p\u003e\u003cdiv class=\"wrapper-narrow float-right-element\"\u003e\u003cimg src=\"/images/phoenix/5821199_0.1.jpg\"\u003e\u003c/img\u003e\u003c/div\u003e\u003cp\u003eIn Trump’s first term, US importers were at first unsure how serious the president was about following through with his tariff threats; indeed, he was very serious. In his second term, it’s less a question of “if” and more “when” Trump will implement harsher tariffs on China, which he says will be higher than 60%. \u003c/p\u003e\u003cp\u003eThe extent to which US importers frontload ocean cargoes has implications for shipping price and service. Trump’s first term was marked by three waves of escalating US tariffs on Chinese goods and two postponements of implementations. That created five periods in which US importers moved goods earlier, artificially creating demand that fueled differing degrees of spot rate volatility and pulled down ocean reliability. And, to a lesser degree, slowed cargo flow through ports. \u003c/p\u003e\u003cp\u003eThis time, however, knowing that more tariffs will be a reality rather than a possibility gives shippers a firmer base to scope out potential responses and make plans, said Chris Rogers, head of supply chain research at S\u0026amp;P Global Market Intelligence. S\u0026amp;P Global is the parent company of the \u003ci\u003eJournal of Commerce\u003c/i\u003e. \u003c/p\u003e\u003cp\u003eThere’s also some degree of knowing what types of goods are first in the firing line for higher US tariffs, given the first Trump administration in December 2019 suspended tariffs targeting imports of mobile phones and laptops from China. Such high-value items could easily be moved via faster air transport rather than ocean shipping to narrowly avoid any tariff deadline. \u003c/p\u003e\u003ch3\u003eMultiple factors drive booking bump \u003c/h3\u003e\u003cp\u003eBased on discussions with three cargo owners and various forwarders, a degree of frontloading to avoid imminent Chinese tariffs is occurring and will continue. The logistics directors at three midsize importers said they had an internal goal to get more goods from China into US ports by Jan. 1. \u003c/p\u003e\u003cp\u003e“We are experiencing an overwhelming surge in booking demands, with available space becoming increasingly constrained for both the USWC and the USEC,” Marc Meier, global head of ocean freight at Toll Global Forwarding, told the \u003ci\u003eJournal of Commerce\u003c/i\u003e. \u003c/p\u003e\u003cp\u003eThe stronger-than-normal booking demand, Meier said, was due to a litany of factors: Chinese tariff fears, strong blank sailings and the \u003ca href=\"https://www.joc.com/article/ila-breaks-off-contract-talks-accuses-usmx-of-semi-automation-push-5810392\"\u003elooming Jan. 15 deadline for longshore workers and employers\u003c/a\u003e to reach a deal or risk another strike along the US East and Gulf coasts. \u003c/p\u003e\u003cp\u003eBeyond knowing that tariffs are coming, US importers have higher carrying costs than they did during Trump’s first term, thanks to higher interest rates. The more elevated prices to store goods will prompt some importers to be more conservative with just how much they frontload. \u003c/p\u003e\u003cp\u003eHow much of that frontloading is fueled by importers moving goods to avoid the strike threat and earlier Lunar New Year celebrations is unclear. Chinese factories stall or slow production during the nearly two-week holiday period that next year begins on Jan. 29. \u003c/p\u003e\u003cp\u003eUS import bookings out of China haven’t jumped despite the tariff threat, according to logistics software provider e2open. \u003c/p\u003e\u003cp\u003e“While November has seen a slight uptick compared to October, this is likely due to the lower order volume during China’s Golden Week holiday in October,” e2open said in a statement to the \u003ci\u003eJournal of Commerce\u003c/i\u003e. \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\u003cp\u003eStephen Nothdurft, vice president of North America sales at forwarder MOL Consolidation Service, said tariffs were playing just “a bit of a role” in extending peak season volumes. He also expected importers dependent on the East and Gulf coasts to wait out the Jan. 15 deadline. \u003c/p\u003e\u003cp\u003e“Nobody is looking to rush to get crazily ahead of this East Coast situation,” he said. “[And] nobody is charging forward on the tariff [risk].” \u003c/p\u003e\u003cp\u003eThat seems to be the sentiment of approximately 100 shippers polled by Ravi Shanker, Morgan Stanley's managing director and lead analyst for North American freight transportation. More than 70% of those polled said they didn’t plan to restock differently due to Trump winning a second term. \u003c/p\u003e\u003cp\u003eOf those shippers, a little more than a third said they are considering “moderating or significantly” increasing inventories ahead of tariffs while an amazing 42% of shippers don’t expect to change behavior in the face of impending tariffs. \u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Mark Szakonyi at \u003c/i\u003e\u003ca href=\"mark.szakonyi@spglobal.com\"\u003e\u003ci\u003emark.szakonyi@spglobal.com\u003c/i\u003e\u003c/a\u003e. \u003c/p\u003e\u003c/div\u003e","Metadata":{"BylineOverwrite":null,"AuthorCompanyOrEventLink":null,"PaywallLocked":true,"FeatureImageCopyright":"The extent to which US importers frontload ocean cargoes has implications for shipping price and service. Photo credit: Izf / Shutterstock.com.","__typename":"Metadata"},"ModDate":"1732205595240","Taxonomy":{"MainCategory":[{"Id":"38","Name":"Trans-Pacific","Redirects":[{"Path":"/maritime/container-shipping-news/trans-pacific","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"AdditionalCategories":[{"Id":"10","Name":"Port News","Redirects":[{"Path":"/maritime/port-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"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"}],"__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"Mark Szakonyi, Executive Editor","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1732194000000","TitlePlainText":"US importers dabbling in frontloading ahead of new tariff threat","Published":true,"Redirects":[{"Path":"/article/us-importers-dabbling-in-frontloading-ahead-of-new-tariff-threat-5821448","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eWhile there is some frontloading of US imports from China to get ahead of expected tariffs in the coming Trump administration, most cargo owners appear to be holding their fire, writes \u003ci\u003eJournal of Commerce\u003c/i\u003e Executive Editor Mark Szakonyi. \u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"While there is some frontloading of US imports from China to get ahead of expected tariffs in the coming Trump administration, most cargo owners appear to be holding their fire, writes Journal of Commerce Executive Editor Mark Szakonyi.","__typename":"Document"},{"Id":"5820643_JournalOfCommerce","Attachments":[{"FileName":"5820672_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eThe New York Shipping Exchange (NYSHEX) on Tuesday said it will launch a series of free ocean freight rate indexes in 2025 designed to underpin index-linked contracts. \u003c/p\u003e\u003cp\u003eThe indexes will be developed in conjunction with the Intercontinental Exchange (ICE), which has also invested in NYSHEX as part of a new tranche of funding it received Tuesday from a range of investors. \u003c/p\u003e\u003cp\u003eThe new indexes are “based on actual cargo moving rates, which will be transparently governed by industry representatives, and will be freely available for all carriers, shippers and [non-vessel-operating common carriers (NVOs)] to use for their index-linked contracts,” NYSHEX CEO Gordon Downes said in a statement. \u003c/p\u003e\u003cp\u003eThe introduction of NYSHEX’s indexes adds depth to an already crowded field of container freight rate index providers. Xeneta, Freightos, Drewry, the Shanghai Containerized Freight Index and Platts, a sister company of the \u003ci\u003eJournal of Commerce\u003c/i\u003e within S\u0026amp;P Global, all currently provide ocean freight indexes, with various methodologies. \u003c/p\u003e\u003cp\u003e“The container shipping industry is vital for global trade, yet it remains an inefficient and volatile market,” Stuart Williams, COO of ICE, said in the statement. “We recently launched ICE Digital Trade [IDT] to support the global shipping industry, and our partnership with NYSHEX is a further step in that direction.” \u003c/p\u003e\u003cp\u003ePandemic-era constraints on ocean freight capacity led shippers to tie up index-linked, multi-year contracts with ocean carriers at higher-than-historical rates, but the use of those contracts tapered off as rates declined and capacity opened up over the last few years. \u003c/p\u003e\u003cp\u003eStill, advocates of index-linked contracts say it is the only mechanism to alleviate the volatility that can define the ocean freight market. Long-term contracts allow shippers to operate with transportation cost certainty, while allowing vessel operators to plan their capacity networks more effectively. \u003c/p\u003e\u003cp\u003eNYSHEX didn’t specify how the indexes will be deployed, in terms of trade lanes or port pairs. Most existing indexes focus on spot rates and tend to delineate by region or trade lane. \u003c/p\u003e\u003cp\u003eNYSHEX was founded in 2014 to build a technology-backed mechanism for shippers, NVOs and shipping lines to construct ocean freight contracts that were mutually binding. \u003c/p\u003e\u003cp\u003eContainer lines Mediterranean Shipping Co., Maersk, CMA CGM and Hapag-Lloyd are users of the platform. \u003c/p\u003e\u003cp\u003eMeanwhile, the new funding round, the size of which was not disclosed, also saw participation from NYSHEX’s existing investors Goldman Sachs Alternatives, NewRoad Capital and Blumberg Capital. \u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Eric Johnson at \u003c/i\u003e\u003ca href=\"mailto:eric.johnson@spglobal.com\"\u003e\u003ci\u003eeric.johnson@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":"NYSHEX didn’t specify how its new indexes will be deployed, in terms of trade lanes or port pairs. Photo credit: UNIKYLUCKK / Shutterstock.com.","__typename":"Metadata"},"ModDate":"1732113075410","Taxonomy":{"MainCategory":[{"Id":"9","Name":"Container Shipping News","Redirects":[{"Path":"/maritime/container-shipping-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"AdditionalCategories":[{"Id":"17","Name":"Logistics Technology News","Redirects":[{"Path":"/supply-chain/logistics-technology-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":"36","Name":"Forwarding","Redirects":[{"Path":"/maritime/container-shipping-news/forwarding","__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":"Eric Johnson, Senior Technology Editor","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1732033815000","TitlePlainText":"NYSHEX says will launch ocean freight rate indexes next year","Published":true,"Redirects":[{"Path":"/article/nyshex-says-will-launch-ocean-freight-rate-indexes-next-year-5820643","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eThe New York Shipping Exchange’s plan to introduce indexes to support long-term contracts adds to an already crowded field of providers. \u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"The New York Shipping Exchange’s plan to introduce indexes to support long-term contracts adds to an already crowded field of providers.","__typename":"Document"}],"secondSection":[{"Id":"5819920_JournalOfCommerce","Attachments":[{"FileName":"5819898_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eRail container dwell times at the ports of Los Angeles and Long Beach rose to their highest level in two years last month and will likely remain elevated through January amid higher-than-normal import volumes driven in part by cargo diversions from the US East and Gulf coasts. \u003c/p\u003e\u003cp\u003eRail-destined container dwell times in the largest US port complex increased to an average of 9.86 days in October, up from 9.25 days in September and 8.2 days in August, according to data from the Pacific Merchant Shipping Association (PMSA), which represents terminal operators and shipping lines on the West Coast. \u003c/p\u003e\u003cp\u003e“I think dwell times will remain elongated until the rails get some relief on the volumes,” said Lawrence Gross, president and founder of Gross Transportation and a \u003ci\u003eJournal of Commerce\u003c/i\u003e analyst. \u003c/p\u003e\u003cp\u003eUS imports from Asia moving through Los Angeles-Long Beach have been exceptionally strong since the earlier-than-usual peak season began in early summer. Asian imports in the gateway were up 30% in July through September compared with the same period last year, according to PIERS, a \u003ci\u003eJournal of Commerce\u003c/i\u003e sister product within S\u0026amp;P Global. \u003c/p\u003e\u003cp\u003e“The continued upward trajectory in dwell times through October underscores both the complexity and adaptability of our supply chain as we manage increased cargo volumes and try to balance intermodal equipment availability with demand,” said Natasha Villa, external affairs manager for the PMSA. \u003c/p\u003e\u003cdiv class=\"wrapper-narrow\"\u003e\u003cdynamic-object type=\"jocchartid\" resource-id=\"155dedc1-99f2-4adf-a449-1c9ab2510f95\"\u003e\u003c/dynamic-object\u003e\u003c/div\u003e\u003cp\u003eForwarders and industry analysts forecast strong import volumes through the early Lunar New Year that begins Jan. 29 as importers of time-sensitive merchandise and manufacturing components route shipments through Los Angeles-Long Beach. Importers are \u003ca href=\"https://www.joc.com/article/ila-breaks-off-contract-talks-accuses-usmx-of-semi-automation-push-5810392\"\u003econcerned about the possibility of another strike by the International Longshoremen’s Association (ILA)\u003c/a\u003e when its extended contract expires on Jan. 15. Importers are also front-loading shipments in anticipation \u003ca href=\"https://www.joc.com/article/hapag-lloyd-sees-possible-pre-lny-cargo-rush-amid-very-healthy-demand-5817691\"\u003eof a large increase in tariffs under the new Trump administration\u003c/a\u003e.\u003c/p\u003e\u003ch3\u003eTerminals, railroads say rail dwells have peaked \u003c/h3\u003e\u003cp\u003eRailroad and terminal operator sources, meanwhile, told the \u003ci\u003eJournal of Commerce\u003c/i\u003e that while import volumes will remain higher than normal through January, imports through Southern California peaked last month. Terminal operators are now focusing on relieving the backlog of rail containers that built up in recent months. \u003c/p\u003e\u003cp\u003e“It definitely plateaued in October and we’re chipping away at the backlog,” said Alan McCorkle, president of Yusen Terminals in Los Angeles. \u003c/p\u003e\u003cp\u003eRail container dwell times at Long Beach Container Terminal (LBCT) last week were down to about three days, said Anthony Otto, LBCT’s president. \u003c/p\u003e\u003cp\u003e“We’re all caught up and things are headed in the right direction,” Otto said. \u003c/p\u003e\u003cp\u003eUnion Pacific Railroad said the past month has seen significant improvement in Southern California. \u003c/p\u003e\u003cp\u003e“So much has changed since October. Today (Nov. 14), Union Pacific’s total LA-LB inventory count is down to its lowest level since mid-July 2024,” a UP spokesperson told the \u003ci\u003eJournal of Commerce\u003c/i\u003e. “We have also made significant progress in working with individual port terminals to significantly reduce aged containers.” \u003c/p\u003e\u003cp\u003eUP this year has experienced a higher jump in loaded railcars idling. Between January and August, the railroad averaged 68 loaded intermodal railcars idling per week, according to the US Surface Transportation Board (STB). The average grew to 139 in September and 199 in October, although it peaked at 241 in the second week of October. BNSF Railway averaged 221 railcars idling in January through August, 170 in September, and 237 in October, with the peak in the third week of October, according to the STB data. \u003c/p\u003e\u003ch3\u003eShippers still experiencing delays \u003c/h3\u003e\u003cp\u003eThe upbeat analysis of the terminals and railroads is of little solace to shippers who say they still struggle with delays at the marine terminals. \u003c/p\u003e\u003cp\u003eAn importer in the automotive sector said he has no recourse but to build a buffer for rail container dwell times into his Southern California supply chain. “We have been doing this for months,” said the importer, who did not want to be identified. “Big guys move quicker, the rest of us slower.” \u003c/p\u003e\u003cp\u003eSteve Hughes, president and CEO of the consultancy HCS International, said Southern California is an important gateway for automotive industry imports due to its extensive intermodal rail connections to the eastern half of the US. For many importers, rerouting shipments to other ports is not an option. \u003c/p\u003e\u003cp\u003e“If you’re looking for good rail connections, there are not many viable alternatives,” Hughes said, noting that other West Coast gateways such as Seattle-Tacoma and Vancouver are also experiencing rail container dwell issues. \u003c/p\u003e\u003cp\u003eMario Cordero, executive director of the Port of Long Beach, said he feels “very comfortable” about the ability of terminal operators in the port complex to handle the continued high import volumes projected through the Lunar New Year. \u003c/p\u003e\u003cp\u003eCordero noted that Long Beach in October had its busiest month ever in terms of total cargo volume. With Los Angeles this week scheduled to report a strong October, Cordero said the port complex is handling the record volumes without the backlog of 109 container ships it experienced in January 2022. \u003c/p\u003e\u003cp\u003e“We [Long Beach] are at 70% of capacity,” he said. “We’re already receiving cargo diverted from the East Coast. If there’s a bump in cargo, we’ll handle it.” \u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Bill Mongelluzzo at \u003c/i\u003e\u003ca href=\"mailto:bill.mongelluzzo@spglobal.com\"\u003e\u003ci\u003ebill.mongelluzzo@spglobal.com\u003c/i\u003e\u003c/a\u003e.\u003c/p\u003e\u003cp\u003e\u003ci\u003eAri Ashe, Senior Editor, contributed to this story\u003c/i\u003e \u003c/p\u003e\u003c/div\u003e","Metadata":{"BylineOverwrite":null,"AuthorCompanyOrEventLink":null,"PaywallLocked":true,"FeatureImageCopyright":"Importers say there are few alternatives to the Southern California gateway for certain goods, so they have no choice but to build extra days into their supply chains due to rail delays. Photo caption: Art Wager / Getty Images.","__typename":"Metadata"},"ModDate":"1731969794560","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":"10","Name":"Port News","Redirects":[{"Path":"/maritime/port-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"38","Name":"Trans-Pacific","Redirects":[{"Path":"/maritime/container-shipping-news/trans-pacific","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"42","Name":"North American ports","Redirects":[{"Path":"/maritime/port-news/north-american-ports","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"43","Name":"Marine terminals","Redirects":[{"Path":"/maritime/port-news/marine-terminals","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"Bill Mongelluzzo, Senior Editor","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1731966914000","TitlePlainText":"Importers navigate two-year high rail container dwells in Los Angeles-Long Beach","Published":true,"Redirects":[{"Path":"/article/importers-navigate-two-year-high-rail-container-dwells-in-los-angeles-long-beach-5819920","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eForwarders and industry analysts forecast strong import volumes through the early Lunar New Year that begins Jan. 29 as importers of time-sensitive merchandise and manufacturing components route shipments through the country’s busiest gateway.\u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"Forwarders and industry analysts forecast strong import volumes through the early Lunar New Year that begins Jan. 29 as importers of time-sensitive merchandise and manufacturing components route shipments through the country’s busiest gateway.","__typename":"Document"},{"Id":"5790089_JournalOfCommerce","Attachments":[{"FileName":"5790105_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eCMA CGM on Friday reported a six-fold surge in group net profit to $2.7 billion in the third quarter, as revenue increased by more the one-third on stronger container pricing power and the front-loading of US imports. \u003c/p\u003e\u003cp\u003eThe Marseille-based shipping and logistics group’s total revenue jumped 38.5% year over year to $15.8 billion during the quarter, leading to a blockbuster quarterly profit that dwarfed the $388 million it recorded in the same three-month period last year. \u003c/p\u003e\u003cp\u003eThe strong performance was propelled by an early peak season for North American and European importers, lower inflation driving retail sales, and inventory rebuilding ahead of possible port strikes on the US East Coast, the company said. \u003c/p\u003e\u003cp\u003eCMA CGM’s volumes climbed 5.5% to 6 million TEUs in the third quarter, while average revenue per TEU rose to $1,798 from $1,322 per TEU in the prior-year period, helping to drive a 43% increase in revenue from shipping operations to $10.9 billion. \u003c/p\u003e\u003cp\u003eRevenues from CMA CGM’s logistics business jumped 31% to $4.8 billion, thanks in part to the integration of Bolloré Logistics. Revenue from other operations, including CMA CGM Air Cargo and the group’s marine terminals business, increased 35% year over year to $749 million for the quarter. \u003c/p\u003e\u003cp\u003eTo help tackle a ballooning budget, the French government is seeking to impose a windfall profit tax that would cost CMA CGM an estimated $535 million next year and $320 million the year after. CMA CGM did not address the proposed tax in its Friday statement, but in an interview with French newspaper \u003ci\u003eLe Figaro\u003c/i\u003e on Oct. 21, Chairman and CEO Rodolphe Saadé warned of the legislators’ “tax one-upmanship.” \u003c/p\u003e\u003cp\u003eMaritime consultancy Drewry estimates container shipping will report a \u003ca href=\"https://www.joc.com/article/scrapping-slow-steaming-demand-will-limit-capacity-overhang-clerc-5785020\"\u003eprofit of $50 billion this year\u003c/a\u003e, up from $28 billion in 2023. And while it is a fraction of the $298 billion recorded in 2022, the carriers will enter an uncertain 2025 in robust financial health. \u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Keith Wallis at \u003c/i\u003e\u003ca href=\"at 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":"CMA CGM’s volumes shipped climbed 5.5% to 6 million TEUs in the third quarter, driven by inventory restocking in North America. Photo credit: Stefan Lambauer / Shutterstock.com.","__typename":"Metadata"},"ModDate":"1731104054870","Taxonomy":{"MainCategory":[{"Id":"34","Name":"Container lines","Redirects":[{"Path":"/maritime/container-shipping-news/container-lines","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"AdditionalCategories":[{"Id":"9","Name":"Container Shipping News","Redirects":[{"Path":"/maritime/container-shipping-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":"Keith Wallis, Special Correspondent","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1731100214000","TitlePlainText":"CMA CGM profits soar on higher pricing, early peak seasons","Published":true,"Redirects":[{"Path":"/article/cma-cgm-profits-soar-on-higher-pricing-early-peak-seasons-5790089","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eCMA CGM’s group net profit rocketed to $2.7 billion in the third quarter, thanks to stronger pricing power and earlier peak seasons for North American and European importers. \u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"CMA CGM’s group net profit rocketed to $2.7 billion in the third quarter, thanks to stronger pricing power and earlier peak seasons for North American and European importers.","__typename":"Document"},{"Id":"5790084_JournalOfCommerce","Attachments":[{"FileName":"5790095_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eUS retailers in November and December plan to import 350,000 TEUs more than they had expected a month ago as they rush to bring merchandise into the country ahead of a possible strike in January by East and Gulf coast dockworkers and billions of dollars in new tariffs proposed by President-elect Donald Trump. \u003c/p\u003e\u003cp\u003eRetailers revised their import projections for November to an increase of 13.6% year over year from the previous forecast of a 0.9% increase just one month ago, according to the latest Global Port Tracker (GPT) report, published monthly by Hackett Associates and the National Retail Federation (NRF). The November GPT report forecasts a 6.1% increase in US imports in December, up from a projected 0.2% increase in the previous report. \u003c/p\u003e\u003cp\u003eThe \u003ca href=\"https://www.joc.com/article/ila-usmx-say-to-resume-talks-on-new-master-contract-in-november-5778794\"\u003epossibility of a second strike\u003c/a\u003e by the International Longshoremen’s Association (ILA) when its tentative contract extension expires on Jan. 15 and huge tariff increases promised by Trump bode ill for the US economy, according to Jonathan Gold, vice president for supply chain and customs policy at the NRF. \u003c/p\u003e\u003cp\u003e“Neither of these developments is good for retailers, their customers or the economy,” Gold said in the November GPT report. \u003c/p\u003e\u003cp\u003eUS imports from China have been strong all year, rising 15.4% in the first nine months of 2024, according to PIERS, a sister product of the \u003ci\u003eJournal of Commerce\u003c/i\u003e within S\u0026amp;P Global. \u003c/p\u003e\u003cp\u003eRetailers have frontloaded imports for much of the year in anticipation of a possible strike by the ILA during the union’s contentious contract negotiations with employers at East and Gulf coast ports. The ILA struck for three days in October before reaching a tentative settlement on wages. Both sides agreed to extend the contract until Jan. 15 to address thorny issues such as automation. \u003c/p\u003e\u003cp\u003eTrump’s threat of imposing tariffs of as much as 200% on US imports from China turned real with his election to a second term earlier this week. Because it takes several months from the placement of purchase orders with factories in China until the arrival of the cargo at US ports, retailers are expected to fast-forward imports of spring merchandise ahead of the Lunar New Year on Jan. 29, when many factories in China will close for a week or two. \u003c/p\u003e\u003cp\u003eGPT upgraded its January forecast for US imports to a 2.5% increase from last month’s forecast of a 0.8% gain and its February projection to a 9.3% year-over-year decline from the previous forecast of an 11.2% drop. \u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Bill Mongelluzzo at \u003c/i\u003e\u003ca href=\"bill.mongelluzzo@spglobal.com\"\u003e\u003ci\u003ebill.mongelluzzo@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":"It takes several months from the placement of purchase orders with factories (an electric fan assembly line in Jiangxi, China, pictured), until the arrival of the cargo at US ports. Photo credit: shumphery / Shutterstock.com.","__typename":"Metadata"},"ModDate":"1731101295160","Taxonomy":{"MainCategory":[{"Id":"34","Name":"Container lines","Redirects":[{"Path":"/maritime/container-shipping-news/container-lines","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"AdditionalCategories":[{"Id":"10","Name":"Port News","Redirects":[{"Path":"/maritime/port-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"34","Name":"Container lines","Redirects":[{"Path":"/maritime/container-shipping-news/container-lines","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"38","Name":"Trans-Pacific","Redirects":[{"Path":"/maritime/container-shipping-news/trans-pacific","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"42","Name":"North American ports","Redirects":[{"Path":"/maritime/port-news/north-american-ports","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"44","Name":"International ports","Redirects":[{"Path":"/maritime/port-news/international-ports","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"Bill Mongelluzzo, Senior Editor","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1731099374000","TitlePlainText":"US retailers ramping up year-end imports ahead of strike, tariff threats","Published":true,"Redirects":[{"Path":"/article/us-retailers-ramping-up-year-end-imports-ahead-of-strike-tariff-threats-5790084","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eUS retailers plan to significantly increase imports in November and December compared with projections from just one month ago following Donald Trump’s election to a second term. \u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"US retailers plan to significantly increase imports in November and December compared with projections from just one month ago following Donald Trump’s election to a second term.","__typename":"Document"},{"Id":"5789989_JournalOfCommerce","Attachments":[{"FileName":"5790006_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eCMA CGM has taken the lead among major carriers in reinstating the traditional — and significantly shorter — Suez Canal route that the vast majority of vessels abandoned in late 2023 due to the Red Sea crisis. \u003c/p\u003e\u003cp\u003eThe Marseille-based carrier’s Indamex service between West India and North America — arguably the most sought-after network by exporters on the trade lane — is set to resume operating on its full port rotation via the Suez, which will include calls to Jeddah, Saudi Arabia, and Damietta, Egypt, in both directions, as well as Tanger Med, Morocco, on the westbound leg. \u003c/p\u003e\u003cp\u003eThe Indamex had been sailing on a truncated rotation of Port Qasim, Nhava Sheva, Mundra, New York, Norfolk, Savannah, Charleston and Port Qasim. On resumption of the Suez transit, the service will operate with 11 vessels, rather than the 12 ships that had been deployed to account for the longer transits around the Cape of Good Hope in southern Africa. \u003c/p\u003e\u003cp\u003eThe revamped service will offer transit times of 31 days from Nhava Sheva to New York, down from between 35 and 40 days with the current rotation.  \u003c/p\u003e\u003cp\u003eThe first vessel to sail under the “normal” itinerary will be the 9,658-TEU \u003ci\u003eCMA CGM Pelleas\u003c/i\u003e, departing Port Qasim Nov. 13 and transiting the Suez Canal Nov. 30. \u003c/p\u003e\u003cp\u003eCMA CGM has no vessel partners on the Indamex, following the Gemini alliance-linked \u003ca href=\"https://www.joc.com/article/india-us-east-coast-trade-poised-for-major-ocean-capacity-shakeup-5192172 \"\u003enetwork split with Hapag-Lloyd\u003c/a\u003e. \u003c/p\u003e\u003cp\u003eIndustry sources have cited two plausible factors for the Suez return: capacity pressure and enhanced multinational naval presence along the Red Sea/Gulf of Aden route.  \u003c/p\u003e\u003cp\u003e“It’s with the support of French forces,” a Mumbai-based industry observer told the \u003ci\u003eJournal of Commerce\u003c/i\u003e.  \u003c/p\u003e\u003cp\u003eIn contrast to CMA CGM, the Gemini Cooperation of Maersk and Hapag-Lloyd in early October announced it had ruled out Suez sailings for its network launching Feb. 1 next year. \u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Bency Matthew at \u003c/i\u003e\u003ca href=\"bencymathew@gmail.com\"\u003e\u003ci\u003ebencymathew@gmail.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":"Plausible factors for CMA CGM’s reinstatement of the Suez Canal routing include capacity pressure and enhanced multinational naval presence along the Red Sea/Gulf of Aden route. Photo credit: Thilina Kaluthotage / NurPhoto via Getty Images.","__typename":"Metadata"},"ModDate":"1731091154680","Taxonomy":{"MainCategory":[{"Id":"34","Name":"Container lines","Redirects":[{"Path":"/maritime/container-shipping-news/container-lines","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"AdditionalCategories":[{"Id":"1","Name":"Maritime","Redirects":[{"Path":"/maritime","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"10","Name":"Port News","Redirects":[{"Path":"/maritime/port-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"38","Name":"Trans-Pacific","Redirects":[{"Path":"/maritime/container-shipping-news/trans-pacific","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"42","Name":"North American ports","Redirects":[{"Path":"/maritime/port-news/north-american-ports","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"44","Name":"International ports","Redirects":[{"Path":"/maritime/port-news/international-ports","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"Bency Mathew, Special Correspondent","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1731085334000","TitlePlainText":"CMA CGM reinstates Suez transits on India-US route","Published":true,"Redirects":[{"Path":"/article/cma-cgm-reinstates-suez-transits-on-india-us-route-5789989","__typename":"Redirect"},{"Path":"/article/cma-cgm-reinstates-suez-transits-on-indiaus-route-5789989","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eAmong the major container lines, CMA CGM has taken the lead in reinstating shorter Suez Canal routings, offering India exporters to North America shorter transits than the majority of other services sailing around southern Africa. \u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"Among the major container lines, CMA CGM has taken the lead in reinstating shorter Suez Canal routings, offering India exporters to North America shorter transits than the majority of other services sailing around southern Africa.","__typename":"Document"},{"Id":"5788905_JournalOfCommerce","Attachments":[{"FileName":"5788898_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eWaltham, MASSACHUSETTS — The confluence of strong pre-Lunar New Year cargo bookings, worries over new US tariffs and the potential for another work stoppage along the US East and Gulf coasts is expected to keep ocean freight demand elevated through the end of 2024, carrier and shipper sources say. Those bullish fundamentals will put a floor under spot rates during the fourth quarter and position the 2025 market for more potential rate increases, they say. \u003c/p\u003e\u003cp\u003eSpeaking Wednesday at the Coalition of New England Companies for Trade (CONECT) conference in Waltham, Massachusetts, Don Davis, vice president at Zim Integrated Shipping Services, said \u003ca href=\"https://www.joc.com/article/strong-imports-low-blanks-extend-peak-season-on-eastbound-trans-pacific-5782101\"\u003ethe carrier expects strong demand for vessel space\u003c/a\u003e during the last two months of the year due to shippers trying to move cargo before Lunar New Year, which begins Jan. 29, about two weeks earlier than this year. \u003c/p\u003e\u003cp\u003e“This early Lunar New Year is expected to have an impact,” Davis said. “It’s likely to cause some stress in import capacity. \u003c/p\u003e\u003cp\u003e“We see our booking pattern increasing when we look at November and December,” he added. “It’s likely that there’s going to be some capacity constraints until the end of the year.” \u003c/p\u003e\u003cp\u003eAbout 5.4% of the total capacity into the US West Coast is forecast as of now to be blanked in November, according to data from maritime intelligence firm eeSea. The figure is about 8.1% on the East Coast. That’s down from the 11.5% blanked capacity observed in November of 2023 for ex-Asia imports into both regions. \u003c/p\u003e\u003cp\u003eNovember’s blanks are down sharply from 16% to the West Coast and 21% to the East Coast in October, according to the eeSea data. \u003c/p\u003e\u003cp\u003eWith global schedule reliability hovering near 50%, Davis said blank sailings are necessary to get vessels back on a weekly rotation. \u003c/p\u003e\u003cp\u003e“It’s really operational in nature when we have to have blank sailings for the most part,” he said. “It has an impact on you, but certainly it’s not something we want to try and do. It’s a lost revenue move for us.” \u003c/p\u003e\u003cp\u003eThe director of international logistics for a furniture retailer who asked not to be identified said that Lunar New Year closures are occurring across a broader swath of its Asian suppliers for longer durations. The retailer is looking to step up its imports over the next two months to get ahead of those closures. \u003c/p\u003e\u003cp\u003e“It used to be just for a week, now Lunar New Year might last two, three weeks,” the source said. \u003c/p\u003e\u003cp\u003eAfter falling almost without fail on a weekly basis since July, spot container rates have started November with gains. Platts, a sister company of the \u003ci\u003eJournal of Commerce\u003c/i\u003e within S\u0026amp;P Global, assessed the North Asia to US East Coast spot container rate at $5,000 per FEU as of Nov. 5, up 17% from the last week of October. The rate to the US West Coast was pegged at $4,450 per FEU, a 7% gain. \u003c/p\u003e\u003ch3\u003eTariffs, ILA deadline a concern \u003c/h3\u003e\u003cp\u003e\u003ca href=\"https://www.joc.com/article/potential-trump-tariffs-would-reset-business-strategy-for-us-importers-analyst-5765307\"\u003eShippers are also starting to reckon with the tariff risk after the presidential election of Donald Trump\u003c/a\u003e, who has promised sweeping tariffs across all import goods. The logistics director said his company had two sets of purchase orders at the ready depending on which candidate came into office, with the election now forcing them to move more goods sooner based on the tariff threat. \u003c/p\u003e\u003cp\u003eA commercial account manager at the Port of New York and New Jersey who asked not to be identified said some retailers are expecting to increase their inbound freight volumes in the next quarter by 20% in response to the tariff threat. \u003c/p\u003e\u003cp\u003eKim Supik, the international logistics director for discount retail Ocean State Job Lot, said during a CONECT panel discussion that importers still have time to get ahead of any new potential tariffs. She added that importers gained experience with Trump’s first round of tariffs in 2018 that should prepare them for any new tariffs after he assumes office again in January 2025. \u003c/p\u003e\u003cp\u003e”We currently have product that we make that is under tariffs that were initiated before. We’ve had to absorb them because what else are you going to do?” Supik said. “I think that the tariffs will come down all in one fell swoop.” \u003c/p\u003e\u003cp\u003eSome shippers may also be looking to move cargo ahead of a potential work stoppage at East and Gulf coast ports if \u003ca href=\"https://www.joc.com/article/ila-usmx-agree-on-new-wage-offer-and-contract-extension-that-reopens-ports-5741882\"\u003ea final deal between the International Longshoremen’s Association and the US Maritime Alliance is not reached by a Jan. 15 deadline\u003c/a\u003e. \u003c/p\u003e\u003cp\u003eLisa Yakomin, president of the Association of Bi-State Motor Carriers, said during the panel discussion that \u003ca href=\"https://www.joc.com/article/ila-usmx-say-to-resume-talks-on-new-master-contract-in-november-5778794\"\u003eunion and maritime employers are scheduled to start meeting in mid-November\u003c/a\u003e in hopes of reaching a deal ahead of the deadline. \u003c/p\u003e\u003cp\u003e“Everyone that I speak to at the ILA and USMX is acting in good faith and wanting to get this done,” she said. \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":"Possible new tariffs and a mid-January deadline for a new dockworker contract are among 2025 risks that shippers are looking to manage. Photo credit: Sven Hansche / Shutterstock.com.","__typename":"Metadata"},"ModDate":"1731014474510","Taxonomy":{"MainCategory":[{"Id":"38","Name":"Trans-Pacific","Redirects":[{"Path":"/maritime/container-shipping-news/trans-pacific","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"AdditionalCategories":[{"Id":"34","Name":"Container lines","Redirects":[{"Path":"/maritime/container-shipping-news/container-lines","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"Michael Angell, Senior Editor","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1731011714000","TitlePlainText":"Early Lunar New Year, tariffs, strike risk underpin Q4 strength in ocean freight","Published":true,"Redirects":[{"Path":"/article/early-lunar-new-year-tariffs-strike-risk-underpin-q4-strength-in-ocean-freight-5788905","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eThe bullish fundamentals are expected to keep US imports healthy as the year ends and put a floor under rates, according to participants at this year’s CONECT conference.\u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"The bullish fundamentals are expected to keep US imports healthy as the year ends and put a floor under rates, according to participants at this year’s CONECT conference.","__typename":"Document"},{"Id":"5787368_JournalOfCommerce","Attachments":[{"FileName":"5787413_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eHapag-Lloyd has placed a $4 billion order for 24 new dual-fuel ships capable of running on liquefied natural gas (LNG) that will be used to both expand existing services and replace older tonnage. \u003c/p\u003e\u003cp\u003eThe 312,000 TEUs in capacity — comprising 12 ships of 16,800 TEUs and 12 of 9,200 TEUs — will be delivered between 2027 and 2029 and are part of the carrier’s preparations for a multi-fuel future. Hapag-Lloyd has five ships being retrofitted for methanol propulsion. \u003c/p\u003e\u003cp\u003e“This investment is one of the largest in the recent history of Hapag-Lloyd, and it represents a significant milestone for our company as it pursues the goals of its Strategy 2030, such as to grow while also modernizing and decarbonizing our fleet,” CEO Rolf Habben Jansen said in a statement Wednesday. \u003c/p\u003e\u003cp\u003eThe vessels will be equipped with low-emission, high-pressure LNG dual-fuel engines that can operate on biomethane, reducing CO2-equivalent emissions by up to 95% compared with conventional propulsion systems, and will also be able to convert to ammonia. \u003c/p\u003e\u003cp\u003eBy 2030, Hapag-Lloyd aims to reduce the absolute greenhouse gas emissions of fleet operations by about one-third compared with 2022 on its way to a net-zero fleet operation by 2045. The carrier said the goal would be achieved by investing in modern efficient newbuildings, slow steaming, fleet modernization and the use of new propulsion technologies and alternative fuels, “which will allow customers to benefit from multiple green transport options at the same time.” \u003c/p\u003e\u003ch3\u003eAlternative fuel availability driving orders \u003c/h3\u003e\u003cp\u003eAlmost 80% of the ship orders made so far this year are for vessels capable of sailing on methanol or LNG, according to Sea-web, a sister company of the \u003ci\u003eJournal of Commerce\u003c/i\u003e within S\u0026amp;P Global. Methanol ships comprise 21.1% of the order book, LNG 33.3% and traditional bunker fuels 45.6%. \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\u003ePressure is growing on carriers to meet the International Maritime Organization’s (IMO’s) interim goal of ensuring that zero- or near-zero-emission fuels make up 5% to 10% of all shipping fuels by 2030. The 5% target is considered the critical mass at which the infrastructure, supply chains and technology that support zero-emission fuels mature and enable exponential growth. \u003c/p\u003e\u003cp\u003eThe availability of alternatives to fossil fuels to meet the IMO’s targets is having \u003ca href=\"https://www.joc.com/article/lack-of-clarity-over-clean-energy-supply-driving-dual-fuel-ship-orders-5747200\"\u003ea greater impact on the ship-ordering process\u003c/a\u003e, with carriers wary of locking themselves into an unviable fuel pathway. \u003c/p\u003e\u003cp\u003eThe need to keep fuel options open was illustrated in \u003ca href=\"https://www.joc.com/article/maersks-lng-order-hedges-bet-on-green-fuel-technology-ceo-5703200\"\u003ea recent Maersk order for dual-fuel vessels totaling 800,000 TEUs\u003c/a\u003e capable of sailing on methanol as well as LNG, a deviation from its deep dive into methanol. The carrier has this year taken delivery of seven dual-fuel, methanol-capable 16,592-TEU ships from an 18-vessel order. \u003c/p\u003e\u003cp\u003eCMA CGM has so far invested $18 billion in orders for 131 vessels capable of sailing on both fossil fuels and low- or zero-carbon alternatives such as biomethane, biomethanol and synthetic fuels. Most of the vessels will be operational by 2028. \u003c/p\u003e\u003cp\u003eSeveral carriers have \u003ca href=\"https://www.joc.com/article/maersk-secures-long-term-methanol-supply-in-china-production-deal-5781961\"\u003emade deals with fuel producers\u003c/a\u003e to develop production facilities and fuel supply chains and lock in supply for the new ships as they come online. \u003c/p\u003e\u003ch3\u003eFlood of new ships coming online \u003c/h3\u003e\u003cp\u003eThe new ship orders are throwing a spotlight on the expanding order book and the flood of new ships that are steadily coming online. \u003c/p\u003e\u003cp\u003eOrders have been made for a total of 7.6 million TEUs in capacity, or 25% of the total in-service fleet, while 410 ships with a capacity of 2.5 million TEUs have been delivered in the first 10 months of the year, according to Neils Rasmussen, chief shipping analyst at BIMCO. The container fleet now consists of 6,699 ships with a capacity of 30.4 million TEUs. \u003c/p\u003e\u003cdiv class=\"wrapper-narrow\"\u003e\u003cdynamic-object type=\"jocchartid\" resource-id=\"a8d0b28a-aa44-473b-941a-d2f6b4f6cafd\"\u003e\u003c/dynamic-object\u003e\u003c/div\u003e\u003cp\u003eRasmussen said in a market update this week that another 500,000 TEUs are scheduled to be delivered during the last two months of 2024, driving deliveries for the year close to 3 million TEUs. Over the next four years, an average of 1.7 million TEUs are scheduled to be delivered each year, with 300,000 TEUs already planned for delivery in 2029. \u003c/p\u003e\u003cp\u003e“Despite the rapid expansion of the fleet, owners continue to add orders for new ships,” Rasmussen said, but he added that actual fleet growth would depend on future recycling. \u003c/p\u003e\u003cp\u003e“After a few years of very low recycling, 3.4 million TEUs will be more than 20 years old next year and prime candidates for recycling in the coming years,” he said. “If they are all recycled during the next five years, fleet growth from the current order book can be limited to 14% [the lower figure in a 14% to 19% range].” \u003c/p\u003e\u003cp\u003eThat point was also made by Maersk CEO Vincent Clerc last week during the carrier’s third-quarter earnings call and by Alphaliner in a recent newsletter. Clerc said \u003ca href=\"https://www.joc.com/article/scrapping-slow-steaming-demand-will-limit-capacity-overhang-clerc-5785020\"\u003escrapping would help to limit the excess capacity\u003c/a\u003e, a comment borne out by the analyst who noted that the top 10 operators could use 44% of their combined order book just to replace the oldest ships in service rather than for growth. \u003c/p\u003e\u003cp\u003eMediterranean Shipping Co. has the industry’s largest order book that, at 2 million TEUs, is almost the size of Hapag-Lloyd’s in-service fleet, but Alphaliner said 60% of the capacity on order could be used to replace MSC’s aging vessels. \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":"By 2030, Hapag-Lloyd aims to reduce the absolute greenhouse gas emissions of its fleet operations by about one-third compared with 2022 levels. Photo credit: MartinLueke / Shutterstock.com.","__typename":"Metadata"},"ModDate":"1730922014507","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":"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":"1730913494000","TitlePlainText":"Hapag-Lloyd makes $4 billion move down LNG path with 24-ship dual-fuel order","Published":true,"Redirects":[{"Path":"/article/hapag-lloyd-makes-4-billion-move-down-lng-path-with-24-ship-dual-fuel-order-5787368","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eThe carrier has been restrained with its order book up to now, but the order for 312,000 TEUs of capacity comes as pressure to meet 2030 interim decarbonization targets intensifies.\u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"The carrier has been restrained with its order book up to now, but the order for 312,000 TEUs of capacity comes as pressure to meet 2030 interim decarbonization targets intensifies.","__typename":"Document"},{"Id":"5785020_JournalOfCommerce","Attachments":[{"FileName":"5784879_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eOcean carriers are on track to nearly double profit levels this year, and despite a wide supply-demand imbalance through 2025, there are increasing signs that excess capacity fears have been overblown, according to Maersk CEO Vincent Clerc. \u003c/p\u003e\u003cp\u003eCarriers will sail into 2025 facing capacity growth of 9% against volume growth of approximately 3%, according to data from \u003ci\u003eJournal of Commerce\u003c/i\u003e parent S\u0026amp;P Global. A similar supply-demand imbalance existed late last year, and carriers were expecting the excess capacity to have a devastating impact on rate levels until the \u003ca href=\"https://www.joc.com/article/pandemic-wakeup-call-hones-shipping-for-red-sea-disruption-ceva-ceo-5192188\"\u003eRed Sea diversions absorbed surplus supply\u003c/a\u003e, while strong demand filled all available ships at highly elevated rate levels. \u003c/p\u003e\u003cp\u003eData from shipping association BIMCO has forecast cargo volume this year will grow between 4% and 5% against a 16% growth in capacity.\u003c/p\u003e\u003cp\u003eEven if the traditional shorter route via the Suez Canal is again viable in 2025 and all the absorbed capacity is released back into the market, the supply-demand imbalance will not be as dire as expected, according to the Maersk executive. \u003c/p\u003e\u003cp\u003eIn a third-quarter earnings call with analysts last week, Clerc outlined a series of factors that are bending the capacity curve back in favor of the carriers and will lead to an improved supply-demand balance next year despite the large capacity overhang. \u003c/p\u003e\u003cp\u003e“Demand is significantly stronger, so unless you expect that to reverse and go to negative growth, the whole base has also moved,” he said. “The fact that there is no sign of an inventory correction or a sharp decrease around the corner is maybe more optimistic than it was a year ago.” \u003c/p\u003e\u003cp\u003eWith ocean networks now all sailing at full speed, Clerc said significant cost, fuel consumption and environmental benefits would come from slowing down vessels. And that, he added, would have the extra benefit of absorbing large amounts of capacity should the Red Sea and Gulf of Aden be deemed safe for shipping. \u003c/p\u003e\u003ch3\u003e‘Virtually no scrapping’ for past five years \u003c/h3\u003e\u003cp\u003eAnother factor that would permanently remove capacity from the market was increased vessel scrapping. \u003c/p\u003e\u003cp\u003e“There has been virtually no scrapping for the last five years and there are a lot of ships that are either at, or nearing, their end of life and are only hanging on because of the incredibly high freight rates that we have seen,” Clerc noted. \u003c/p\u003e\u003cp\u003e“At these rates, any ship can make money, but they are not competitive and as [market rates] start to correct, we’re going to see about 2% to 3% of capacity being scrapped every year, and that will significantly subtract from what is coming in the year ahead,” he added. \u003c/p\u003e\u003cp\u003eCapacity totaling 2.5 million TEUs has been delivered so far this year, while just 75,998 TEUs of vessel capacity has been scrapped, according to data from S\u0026amp;P Global. The average scrapping rate fell to 0.4% of the fleet per year from 2020 to 2024, compared with 1.6% in the 2014–2019 period, as Red Sea diversions extended voyage times and strong demand on the main Asian export trades combined to fill all available capacity. \u003c/p\u003e\u003cdiv class=\"wrapper-narrow\"\u003e\u003cdynamic-object type=\"jocchartid\" resource-id=\"d77a034f-31a0-4b28-8768-8262aac966e4\"\u003e\u003c/dynamic-object\u003e\u003c/div\u003e\u003cp\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, as slack capacity in the industry is very low,” Parash Jain, HSBC’s global head of transport and logistics research, wrote in a market report on A.P. Moller-Maersk last week. \u003c/p\u003e\u003cp\u003eAccording to Alphaliner, the top 10 container lines operate 683 vessels aged 20 years or older, representing capacity of more than 2.6 million TEUs. Assuming 25 years as the normal commercial lifespan of a sea-going vessel, the analyst said the top 10 operators could use 44% of their combined order book just to replace the oldest ships in service rather than for growth. \u003c/p\u003e\u003cp\u003eMediterranean Shipping Co. has an order book almost the size of Hapag-Lloyd’s in-service fleet at 2 million TEUs, but Alphaliner said 60% of the capacity on order could be used to replace aging vessels. \u003c/p\u003e\u003cp\u003e“The Geneva-based carrier still operates 315 ships which were built in or before 2004 ... many of these vessels will become candidates for demolition in the coming years when the newbuildings hit the water,” the analyst noted. \u003c/p\u003e\u003cp\u003eAnother issue absorbing ocean capacity, over and above the Red Sea diversions, was worsening delays at ports in Asia and Europe, according to Sea-Intelligence Maritime Analysis. The analyst noted in its Sunday Spotlight newsletter that capacity absorption has steadily increased since hitting a low point in the summer of 2023. \u003c/p\u003e\u003cp\u003e“This is problematic in itself, as it implies the root cause might go deeper than just the Red Sea crisis,” Sea-Intelligence wrote. “Of course, the Red Sea crisis is an important element currently, but the worsening of conditions began before the crisis started in the Red Sea.” \u003c/p\u003e\u003cp\u003eMaritime consultancy Drewry estimates container shipping will report a profit of $50 billion this year, up from $28 billion in 2023. And while it is a fraction of the $298 billion recorded in 2022, the carriers will enter an uncertain 2025 in robust financial health. \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":"Capacity totaling 2.5 million TEUs has been delivered so far this year, while just 75,998 TEUs of vessel capacity has been scrapped, according to data from S\u0026P Global. Photo credit: Katiekk / Shutterstock.com.","__typename":"Metadata"},"ModDate":"1730821576097","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":"1730739976000","TitlePlainText":"Scrapping, slow steaming, demand will limit capacity overhang: Clerc","Published":true,"Redirects":[{"Path":"/article/scrapping-slow-steaming-demand-will-limit-capacity-overhang-clerc-5785020","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eA series of factors are bending the capacity curve back in favor of carriers and could lead to an improved supply-demand balance next year despite a large capacity overhang, believes the Maersk CEO.\u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"A series of factors are bending the capacity curve back in favor of carriers and could lead to an improved supply-demand balance next year despite a large capacity overhang, believes the Maersk CEO.","__typename":"Document"},{"Id":"5783839_JournalOfCommerce","Attachments":[{"FileName":"5783819_0.1.JPG","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eGemini Cooperation will have a 13-week window from Feb. 1 to get the new network up and running before partners Maersk and Hapag-Lloyd come under pressure to prove they can deliver on the promised 90% schedule reliability, according to Maersk CEO Vincent Clerc. \u003c/p\u003e\u003cp\u003eClerc told analysts during \u003ca href=\"https://www.joc.com/article/maersks-existing-fleet-size-sufficient-to-handle-short-term-demand-growth-ceo-5782669\"\u003eMaersk’s third-quarter earnings\u003c/a\u003e call Thursday he was expecting “an orderly transition” as the carrier moves over to Gemini from the 2M Alliance with Mediterranean Shipping Co. and as Hapag-Lloyd exits THE Alliance. But it will take about three months for the new network to stabilize, the CEO noted. \u003c/p\u003e\u003cp\u003e“The longest service we have is a 13-week rotation, so it will take about 13 weeks until the last ship and the full cycle of the service is working on the same network, so from February for three months we will live in a hybrid world,” he said. \u003c/p\u003e\u003cp\u003eOnce the network is stabilized, Clerc said Gemini will need to quickly demonstrate that it is capable of dramatically improving reliability across its network. \u003c/p\u003e\u003cp\u003e“The focus is on quality and the common agreement [with partner Hapag-Lloyd] is that doing it right the first time with high quality is going to be cheaper than operating a network with 50% reliability,” he said. \u003c/p\u003e\u003cp\u003e“Our first target is to deliver the proof points to customers. Initially we need to have a successful transition into Gemini. We need to deliver the quality in terms of production cost and production quality that we have promised,” Clerc added. “At some point we will see how much value that creates for customers and how we can participate in that.” \u003c/p\u003e\u003ch3\u003eNo need to discount or price aggressively \u003c/h3\u003e\u003cp\u003eDuring the startup period, Clerc acknowledged that customers signing with Gemini would not accept higher rate levels based simply on a promise of 90% reliability. But he insisted that the carrier would not have to offer discounts to attract customers to the new network. \u003c/p\u003e\u003cp\u003e”In a market that is as volatile as it is today, with the many disruptions that there are, I don’t think that customers will be willing to pay more for higher reliability without having seen what they’re getting,” Clerc said. \u003c/p\u003e\u003cp\u003e”But I see no reason why, when we’re selling a higher quality and higher reliability, we would have to discount or price more aggressively in order to sign up customers,” he added. \u003c/p\u003e\u003cp\u003eFebruary will also see the launch of the Premier Alliance, formerly known as THE Alliance, and \u003ca href=\"https://www.joc.com/article/mscs-global-scale-enables-standalone-network-coverage-5726563\"\u003eMSC striking off on its own\u003c/a\u003e when the 2M Alliance ends. While MSC and the other alliances will focus on providing direct port-to-port services, Gemini will structure its port calls around \u003ca href=\"https://www.joc.com/article/lofty-reliability-goals-for-gemini-alliance-hang-on-key-service-assumptions-5214653\"\u003ea “hub-and-spoke” network\u003c/a\u003e where Maersk and Hapag-Lloyd control the terminals and the shuttles that will provide onward transport to destination. \u003c/p\u003e\u003cp\u003eIt is this large transshipment element within the Gemini network that has raised shipper skepticism over the promise of 90% on-time performance, because it typically adds transit time and delays and because, historically, the on-time performance of carriers has been far below that level. \u003c/p\u003e\u003cp\u003eGlobal schedule reliability from January to September this year has been stuck between 50% and 55%, with the average delays for vessels at 5.37 days, according to Sea-Intelligence Maritime Analysis. Maersk’s schedule reliability in September, the most recent data available, was at 55.5% while Hapag-Lloyd had 48.7%. \u003c/p\u003e\u003cp\u003eClerc said teams from Maersk and Hapag-Lloyd conducted exhaustive tests over the past couple of years to determine the efficiency of a hub-and-spoke network before arriving at the 90% reliability figure. \u003c/p\u003e\u003cp\u003e“We did not go out with that number lightly,” he said. “The core issue now is to scale this up and then we’ll have to see if there is anything that has not been tested ... but we feel confident we have tested all we could think of in terms of resilience of the product.” \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":"Global schedule reliability from January to September this year has been stuck between 50% and 55%, with the average delays for vessels at 5.37 days. Photo credit: Maersk.","__typename":"Metadata"},"ModDate":"1730470335343","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":"1730468356000","TitlePlainText":"Gemini faces 13-week phase-in before 90% reliability promise is tested: Clerc","Published":true,"Redirects":[{"Path":"/article/gemini-faces-13-week-phase-in-before-90-reliability-promise-is-tested-clerc-5783839","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eThe new network will have a grace period for about three months as the first full port rotations are completed but must then quickly prove it can raise on-time performance to the promised levels, says Maersk’s CEO.\u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"The new network will have a grace period for about three months as the first full port rotations are completed but must then quickly prove it can raise on-time performance to the promised levels, says Maersk’s CEO.","__typename":"Document"},{"Id":"5783197_JournalOfCommerce","Attachments":[{"FileName":"5783880_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eOcean carrier Matson is expecting elevated rates for its Asian services for the rest of the year amid steady e-commerce growth, US tariff threats, potential labor disruption and constrained capacity due to ongoing Red Sea diversions. That comes after Matson said its net income surged 66% year over year in the third quarter to $199 million due to strong freight rates supported by market uncertainty. \u003c/p\u003e\u003cp\u003eCEO Matt Cox, during a third-quarter earnings call Wednesday, said that while conventional retailers were decreasing their orders, the growth of e-commerce shipments from Asia was more consistent as \u003ca href=\"https://www.joc.com/article/air-cargo-thrives-on-e-commerce-disruption-driven-demand-5703214\"\u003eelevated air cargo rates\u003c/a\u003e pushed more shippers to move goods via ocean transport. The mid-January expiration of a tentative labor agreement for US East and Gulf coast dockworkers was also putting upward pressure on rates, Cox said. \u003c/p\u003e\u003cp\u003e“At some point, expect elevated freight rates in the trans-Pacific trade lane to moderate, but the timing will depend on the persistence of the underlying economic supply chain and geopolitical conditions,” he said. “At this moment, it is unclear if any of the elements of risk will normalize during 2025.” \u003c/p\u003e\u003cp\u003eReflecting greater pricing power, Matson’s revenue rose 16.3% to $962 million during the third quarter even as total volumes, including those on its US Jones Act trades, rose just 0.4% to 107,900 FEUs. Third-quarter China volumes inched up 2.6% to 40,000 FEUs in the same period. \u003c/p\u003e\u003cp\u003eThe fourth quarter forecast was, in part, supported by expected retail growth bolstered by a robust e-commerce sector. But Matson also pointed to several market disruptions tightening supply chain conditions — such as ongoing Red Sea diversions and the brief strike at US East and Gulf coast ports — as the primary cause for increased freight rates. \u003c/p\u003e\u003cp\u003e“For the fourth quarter, we expect our China service freight rates to be significantly higher than [Q3 2023], but lower than the average rates achieved in the [2024] third quarter as the peak season demand eases,” said Cox. \u003c/p\u003e\u003cp\u003eMatson’s Q4 outlook expects operating income for ocean transportation will be “meaningfully higher” than levels in the year-ago period. The market has been signaling \u003ca href=\"https://www.joc.com/article/strong-imports-low-blanks-extend-peak-season-on-eastbound-trans-pacific-5782101\"\u003erobust trans-Pacific volumes\u003c/a\u003e for several weeks, and Cox pointed to several other factors offering upward support for rates, including the US presidential election and what that may mean for tariffs. \u003c/p\u003e\u003cp\u003eFurthermore, there are market expectations for a marginal volume push driven by shippers who intend on frontloading cargo ahead of another potential labor interruption in January. Cox said some of Matson’s shippers have already “derisked” their freight by diverting it into the West Coast. \u003c/p\u003e\u003cp\u003eStill, the Matson CEO said year-over-year expectations for the fourth quarter remain bullish. That outlook is reinforced by the strong spot market for trans-Pacific cargo, where rates for ex-Asia imports into North America have more than doubled since last year. \u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Laura Robb at \u003c/i\u003e\u003ca href=\" mailto:Laura.Robb@spglobal.com.\"\u003e\u003ci\u003elaura.robb@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":"Matson said its net income surged 66% year over year in the third quarter to $199 million. Photo credit: Matson.","__typename":"Metadata"},"ModDate":"1730492295980","Taxonomy":{"MainCategory":[{"Id":"38","Name":"Trans-Pacific","Redirects":[{"Path":"/maritime/container-shipping-news/trans-pacific","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"AdditionalCategories":[{"Id":"9","Name":"Container Shipping News","Redirects":[{"Path":"/maritime/container-shipping-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"10","Name":"Port News","Redirects":[{"Path":"/maritime/port-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"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":"Laura Robb, Associate Editor","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1730402837000","TitlePlainText":"Freight rates supported by bullish fundamentals to persist through Q4: Matson","Published":true,"Redirects":[{"Path":"/article/freight-rates-supported-by-bullish-fundamentals-to-persist-through-q4-matson-5783197","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eWhile conventional retailers were decreasing their orders, the growth of e-commence shipments from Asia was more consistent as elevated air cargo rates pushed more shippers to move goods via ocean transport, the carrier’s CEO said. \u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"While conventional retailers were decreasing their orders, the growth of e-commence shipments from Asia was more consistent as elevated air cargo rates pushed more shippers to move goods via ocean transport, the carrier’s CEO said.","__typename":"Document"},{"Id":"5782669_JournalOfCommerce","Attachments":[{"FileName":"5782661_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eMaersk’s existing fleet capacity of nearly 4.3 million TEUs will be enough to handle demand growth for two to three years as the Gemini network enables faster turnaround times and greater volumes transported on the same number of vessels, CEO Vincent Clerc said Thursday. \u003c/p\u003e\u003cp\u003eThe carrier’s order book is approximately 8% of Maersk’s in-service fleet, not counting a recent order for 800,000 TEUs in dual-fuel ship capacity due for delivery from 2026 to 2030. Most of the incoming capacity will replace older tonnage heading for the scrapyard. \u003c/p\u003e\u003cp\u003e“The simple fact of moving to this modular network will mean that with the same size of fleet we will be able to keep up with market growth for two to three years,” Clerc told investors during an earnings call as Maersk reported its third-quarter financial results. “...Our primary focus right now is to be able to transport more volume on the same number of ships.” \u003c/p\u003e\u003cp\u003eDespite a relatively flat 0.3% year-over-year increase in third-quarter volume to 3.1 million FEUs, Maersk’s average rate level of $3,236 per FEU was up 54% year over year and 29% higher than the second quarter. \u003c/p\u003e\u003cp\u003eThe impact on Maersk’s earnings was substantial, driving up the carrier’s third-quarter revenue by 30% year over year to $15.8 billion and increasing its earnings before interest, taxes, depreciation and amortization (EBITDA) by 155% to $4.8 billion. Earnings before interest and taxes (EBIT) rose 515% to $3.3 billion, while Maersk’s third-quarter net profit of $3.1 billion was almost five times higher than the same quarter last year. \u003c/p\u003e\u003cp\u003e“We saw the full impact of the elevated rates that we saw in the second quarter materialize in the third quarter,” Clerc said. “...This delay resulted in the third quarter being [our] strongest quarter of 2024.” \u003c/p\u003e\u003cp\u003e“This benefit of higher freight rates, combined with continued strong volumes, has delivered substantially higher profit,” he added, noting that rates peaked in July and have now stabilized amid the solid demand expected in the fourth quarter. \u003c/p\u003e\u003cp\u003eThat visibility into fourth-quarter demand — Maersk expects container market volume growth of 6% year over year — saw the carrier earlier this month \u003ca href=\"https://www.joc.com/article/maersk-hikes-full-year-profit-forecast-amid-expected-strong-q3-financials-5771869\"\u003eraise the upper end of its full-year operating profit forecast\u003c/a\u003e by $500 million to $11.5 billion. \u003c/p\u003e\u003ch3\u003eLogistics still falling short of expectations \u003c/h3\u003e\u003cp\u003eMarket attention has been focused on Maersk’s Logistics and Services segment at the center of its integrator strategy that has performed below expectations in the last few years. Although there were signs of improvement in the third quarter, Clerc remained dissatisfied with the performance. \u003c/p\u003e\u003cp\u003e“I’m pleased with the sequential improvement, but I am not satisfied with the absolute level,” he said. “In contract logistics, warehousing and distribution — what we call ‘Fulfilled by Maersk’ — we’re still not at a margin that is satisfactory, and that’s the main area that we must continue to work on.” \u003c/p\u003e\u003cp\u003eRevenue of $3.9 billion in the Logistics and Services segment was up 11% year over year and 7.2% higher than in the second quarter. EBITDA rose 27% year over year and 25% from the second quarter, to $431 million. EBIT of $200 million was up 47% year over year and 59% from the second quarter, although the EBIT margin of 5.1% remains short of Maersk’s 6% target. \u003c/p\u003e\u003cp\u003eThe higher profitability was attributed to stronger performance in lead and contract logistics and high air freight rates, as well as operational efficiency gains across all products. \u003c/p\u003e\u003cp\u003e”The transport and lead logistics parts are delivering something close to best-in-class, but on our warehousing and distribution we still have work to do to get us above that 6% margin and keep us there,” Clerc said. \u003c/p\u003e\u003cp\u003e”I expect continued sequential improvement ... we’re not going to reach 6% in Q4 but somewhere between 5.1% and 6% is where we need to be in Q4 barring any surprises,” he added. \u003c/p\u003e\u003cp\u003eMaersk CFO Patrick Jany said the logistics segment performance was moving in the right direction. \u003c/p\u003e\u003cp\u003e“Fundamentally, we are improving the cost position and the resilience of the business and will continue to build on this momentum towards our EBIT margin target of above 6%,” he told analysts. \u003c/p\u003e\u003cp\u003eMaersk’s APM Terminals segment also reported a solid third quarter with revenue rising 18% year over year to $1.18 billion. EBITDA of $424 million was up 20%, while EBIT rose 25% to $338 million. Much of the increase in earnings was derived from North America and India where tariff increases and higher storage revenue were reported. \u003c/p\u003e\u003cp\u003eLooking ahead to next year, Clerc described the Red Sea situation as being “entrenched” and did not expect any return to Suez Canal transits until “well into 2025.” This reality is influencing the February launch of the Gemini Cooperation alliance, with Maersk and Hapag-Lloyd only recently \u003ca href=\"https://www.joc.com/article/maersk-rules-out-suez-canal-routings-for-gemini-launch-5746470\"\u003ediscarding Suez routings from the network\u003c/a\u003e. \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":"Maersk hauled 3.1 million FEUs in the third quarter, up 0.3% year over year. Photo credit: Mariusz Bugno / Shutterstock.com.","__typename":"Metadata"},"ModDate":"1730401451813","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":"1730392744000","TitlePlainText":"Maersk’s existing fleet size sufficient to handle short-term demand growth: CEO","Published":true,"Redirects":[{"Path":"/article/maersks-existing-fleet-size-sufficient-to-handle-short-term-demand-growth-ceo-5782669","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eFewer port calls in the Gemini network will allow the carrier to move greater volumes with the same number of ships, Vincent Clerc said while reporting a highly profitable third quarter.\u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"Fewer port calls in the Gemini network will allow the carrier to move greater volumes with the same number of ships, Vincent Clerc said while reporting a highly profitable third quarter.","__typename":"Document"},{"Id":"5782101_JournalOfCommerce","Attachments":[{"FileName":"5782079_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eAn extended peak season on the eastbound trans-Pacific is manifesting in unusual strength for imports from Asia, coming as carriers signal atypically low blank sailings for November and seek higher rates. \u003c/p\u003e\u003cp\u003eImport demand from Asia, which typically tapers ahead of Black Friday sales, is holding steady, fueled by resilient retail sales, tariff concerns and the mid-January expiration of the tentative labor agreement at US East and Gulf coast ports. \u003c/p\u003e\u003cp\u003eAbout 5.4% of the total capacity into the West Coast is forecast as of now to be blanked in November, according to data from maritime intelligence firm eeSea. The figure is about 8.1% on the East Coast. That’s down from the 11.5% blanked capacity observed in November of 2023 for ex-Asia imports into both regions. \u003c/p\u003e\u003cp\u003eNext month’s blanks are down sharply from 16% to the West Coast and 21% to the East Coast in October, according to the eeSea data. \u003c/p\u003e\u003cp\u003e“What we are seeing is a fairly robust November,” a carrier executive who did not want to be identified told the \u003ci\u003eJournal of Commerce\u003c/i\u003e Wednesday. “For four weeks out, bookings look strong.” \u003c/p\u003e\u003cdiv class=\"wrapper-narrow\"\u003e\u003cdynamic-object type=\"jocchartid\" resource-id=\"1c1d9578-c129-4d4e-a136-e220473bd136\"\u003e\u003c/dynamic-object\u003e\u003c/div\u003e\u003cp\u003eAnd that is keeping rates afloat and far higher than where they were a year ago. \u003c/p\u003e\u003cp\u003eThe spot/freight-all-kinds (FAK) rate from Asia to the West Coast as of Oct. 28 was $4,200 per FEU, up 133% year over year, according to Platts, a sister company of the \u003ci\u003eJournal of Commerce\u003c/i\u003e within S\u0026amp;P Global. The East Coast rate of $4,300 per FEU is up 87% from October 2023. \u003c/p\u003e\u003cp\u003eDespite the elevated rates, carriers are notifying forwarders of general rate increases (GRIs) of about $500 to $600 per FEU they will attempt to pass on from Nov. 1. Normally, spot and FAK rates drop in the final two months of the year after holiday merchandise has been shipped from Asia. \u003c/p\u003e\u003cp\u003ePeak season demand and vessel load factors have been strong this summer and fall. US imports from Asia in September totaled 1.72 million TEUs, up 16.7% year over year and hovering near a two-year high, according to PIERS, a sister product of the \u003ci\u003eJournal of Commerce\u003c/i\u003e within S\u0026amp;P Global. \u003c/p\u003e\u003cp\u003eForwarders and carriers say import volumes have remained robust in October. \u003c/p\u003e\u003cp\u003e“I think carriers are surprised at how full they were in October,” said Rachel Shames, vice president of pricing and procurement at the forwarder CV International. \u003c/p\u003e\u003cp\u003eThe National Retail Federation’s Global Port Tracker has \u003ca href=\"https://www.joc.com/article/us-retailers-expect-modest-import-bump-in-october-to-close-out-peak-season-5745363\"\u003eforecast a year-over-year increase of 3.1% in US imports in October\u003c/a\u003e. \u003c/p\u003e\u003cp\u003e“Ships are full, especially to the West Coast,” said a second US-based carrier executive. \u003c/p\u003e\u003ch3\u003eSeveral factors driving trans-Pac demand \u003c/h3\u003e\u003cp\u003eForwarders attribute the strong volumes to the frontloading of shipments to East and Gulf coast ports ahead of a possible second strike by the International Longshoremen’s Association (ILA) \u003ca href=\"https://www.joc.com/article/ila-usmx-say-to-resume-talks-on-new-master-contract-in-november-5778794\"\u003ewhen its extended contract expires on Jan. 15\u003c/a\u003e. Retailers are also concerned about a possible \u003ca href=\"https://www.joc.com/article/potential-trump-tariffs-would-reset-business-strategy-for-us-importers-analyst-5765307\"\u003espike in tariffs on imports from China\u003c/a\u003e, depending on the outcome of Tuesday’s US presidential election. The frontloading of spring merchandise before an early Lunar New Year in Asia on Jan. 29 is also keeping imports strong. \u003c/p\u003e\u003cp\u003e“There’s a triple convergence of events,” said James Caradonna, executive vice president at the forwarder M\u0026amp;R Spedag Group. Caradonna said some retailers are content to bring merchandise into their warehouses early and pay the storage fees rather than risk having their freight caught up in supply chain bottlenecks. \u003c/p\u003e\u003cdiv class=\"wrapper-narrow\"\u003e\u003cdynamic-object type=\"jocchartid\" resource-id=\"e7a65aab-9aac-4f07-9b74-1793746c01ef\"\u003e\u003c/dynamic-object\u003e\u003c/div\u003e\u003cp\u003eThe combination of strong demand and the modest blank sailings from Asian load ports is keeping vessel space tight. \u003c/p\u003e\u003cp\u003e“There’s definitely some tightening,” said Kurt McElroy, executive vice president of the forwarder Kerry Apex. “[Customers] are booking two to three weeks in advance, especially from South China.” \u003c/p\u003e\u003ch3\u003e‘Erosion’ in peak season surcharges \u003c/h3\u003e\u003cp\u003eForwarders and carriers told the \u003ci\u003eJournal of Commerce\u003c/i\u003e that because vessel space is likely to remain tight through November and into December, peak season surcharges (PSSs), which are applied to fixed-rate contracts known as named-account (NAC) rates, are likely to remain in play even though the eastbound trans-Pacific is technically not in the traditional peak season. However, the $2,000 PSS that many forwarders have been paying since May 1 is softening. \u003c/p\u003e\u003cp\u003eThe first carrier executive said PSSs effective Nov. 1 are in the market at about $1,800 per FEU, with other carriers charging $1,000 to $1,200 per FEU. \u003c/p\u003e\u003cp\u003e“We’ve seen erosion,” the source said. “[Customers] are putting a lot of pressure on us.” \u003c/p\u003e\u003cp\u003eOn the other hand, while some carriers are opening up more vessel space for named-account bookings, not all forwarders are getting as much of the lower-priced space as they would like, said Christian Sur, executive vice president for ocean freight contract logistics at the forwarder Unique Logistics International. \u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Bill Mongelluzzo at \u003c/i\u003e\u003ca href=\"mailto:bill.mongelluzzo@spglobal.com \"\u003e\u003ci\u003ebill.mongelluzzo@spglobal.com\u003c/i\u003e\u003c/a\u003e.\u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Laura Robb at \u003c/i\u003e\u003ca href=\"mailto:laura.robb@spglobal.com\"\u003e\u003ci\u003elaura.robb@spglobal.com\u003c/i\u003e\u003c/a\u003e\u003ci\u003e.\u003c/i\u003e \u003c/p\u003e\u003c/div\u003e","Metadata":{"BylineOverwrite":"Bill Mongelluzzo, Senior Editor and Laura Robb, Associate Editor ","AuthorCompanyOrEventLink":null,"PaywallLocked":true,"FeatureImageCopyright":"Spot and freight-all-kinds (FAK) rates are about twice what they were a year ago, but carriers are imposing general rate increases effective Nov. 1. Photo credit: Jorge Villalba / Getty Images.","__typename":"Metadata"},"ModDate":"1730321928430","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":"10","Name":"Port News","Redirects":[{"Path":"/maritime/port-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"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"},{"Id":"38","Name":"Trans-Pacific","Redirects":[{"Path":"/maritime/container-shipping-news/trans-pacific","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"42","Name":"North American ports","Redirects":[{"Path":"/maritime/port-news/north-american-ports","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1730314818000","TitlePlainText":"Strong imports, low blanks extend peak season on eastbound trans-Pacific","Published":true,"Redirects":[{"Path":"/article/strong-imports-low-blanks-extend-peak-season-on-eastbound-trans-pacific-5782101","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eImport demand from Asia, which typically tapers ahead of Black Friday sales, is holding steady, fueled by resilient retail sales, tariff concerns and the mid-January expiration of the tentative ILA labor agreement.\u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"Import demand from Asia, which typically tapers ahead of Black Friday sales, is holding steady, fueled by resilient retail sales, tariff concerns and the mid-January expiration of the tentative ILA labor agreement.","__typename":"Document"},{"Id":"5781961_JournalOfCommerce","Attachments":[{"FileName":"5781827_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eMaersk has signed a long-term bio-methanol supply agreement with China’s LONGi Green Energy Technology Co. as the carrier works toward securing enough green fuel to power its fast-growing dual-fuel fleet. \u003c/p\u003e\u003cp\u003eThe carrier has taken delivery of seven dual-fuel, methanol-capable 16,592-TEU ships from an 18-vessel order. With this latest supply deal, the combined methanol offtake agreements Maersk has in place so far will meet half the demand from its fleet in 2027. \u003c/p\u003e\u003cp\u003e“While we believe that the future of global logistics will see several pathways to net-zero, this agreement underscores the continued momentum for methanol projects that are pursued by ambitious developers across markets,” Emma Mazhari, head of energy markets at A.P. Moller-Maersk, said in a statement Wednesday. \u003c/p\u003e\u003cp\u003eThe need for ocean carriers to secure supply agreements for green fuels — particularly methanol and LNG — is becoming more urgent, with almost 80% of the total 1.7 million TEUs of ship orders made so far this year being for vessels capable of sailing on methanol or LNG, 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 ordered vessels are steadily coming online, and although they can sail on conventional bunker fuel in the meantime, meeting both internal and regulatory emissions targets will largely depend on operating on green fuels. \u003c/p\u003e\u003ch3\u003eDeep dive into methanol \u003c/h3\u003e\u003cp\u003eThe agreement with Henan-based LONGi continues Maersk’s deep dive into methanol. But growing uncertainty over the future supply of low- or zero-carbon fuels has seen the carrier expanding its alternative fuels portfolio into areas once regarded as out of bounds, such as liquefied natural gas (LNG). \u003c/p\u003e\u003cp\u003eThe need to keep fuel options open and avoid being locked into one pathway was illustrated in a \u003ca href=\"https://www.joc.com/article/maersks-lng-order-hedges-bet-on-green-fuel-technology-ceo-5703200\"\u003erecent 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\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\u003eIn an interview with the \u003ci\u003eJournal of Commerce\u003c/i\u003e earlier this month, Morten Bo Christiansen, Maersk’s head of decarbonization, said including LNG-capability in the carrier’s dual-fuel fleet is designed to bring in a wider mix of fuels. \u003c/p\u003e\u003cp\u003e“When we look at our road map to decarbonize and meet our science-based targets, it is methanol that plays the big role,” Christiansen said. “We expect to get some biomethane [a cleaner version of LNG], but we are still relying mostly on methanol because we have a reasonable certainty that we can get those green fuels at a reasonable cost. \u003c/p\u003e\u003cp\u003e“We already have \u003ca href=\"https://www.joc.com/article/maersk-inks-new-methanol-sourcing-deal-with-chinese-supplier-5234419\"\u003eone deal of half a million [metric tons] secured\u003c/a\u003e, and we have a rather promising pipeline of green methanol,” he added. \u003c/p\u003e\u003cp\u003eAmmonia is increasingly being included in container shipping decarbonization conversations, with classification society DNV on Wednesday approving in principle a 15,000-TEU ammonia-fueled vessel design by Hyundai Heavy Industries. \u003c/p\u003e\u003ch3\u003eChina in a ‘pioneering role’ \u003c/h3\u003e\u003cp\u003eMaersk did not disclose the volume that will be produced by LONGi’s central China plant, but the supply will begin in 2026 with full production by the end of the decade. The bio-methanol will be produced from agricultural residues such as straw and fruit tree cuttings. \u003c/p\u003e\u003cp\u003e“China continues to play a pioneering role, and it is encouraging to also see strong market developments in other geographies as well,” Mazhari noted, adding that the carrier was involved in “several promising projects.” \u003c/p\u003e\u003cp\u003eWhile Maersk moves to lock in supply of methanol, the fuel remains three to four times more expensive per ton than low sulfur fuel oil, a price differential that must be lowered, Rabab Raafat Boulos, COO at A.P. Moller-Maersk, said in Wednesday’s statement. \u003c/p\u003e\u003cp\u003e“Global shipping’s main net-zero challenge is the price gap between fossil fuels and the alternatives with lower greenhouse gas emissions,” he noted. \u003c/p\u003e\u003cp\u003eEven with current regulatory tools in place such as the European Union’s \u003ca href=\"https://www.joc.com/article/european-parliament-approves-shipping-ets-but-stakeholders-wary-5202492\"\u003eEmissions Trading System (ETS)\u003c/a\u003e and \u003ca href=\"https://www.joc.com/article/container-carriers-to-shoulder-bulk-of-europe-fuel-intensity-rule-5192246\"\u003eFuelEU Maritime fuel intensity rules\u003c/a\u003e that will be applied from Jan. 1, Maersk noted that only by the mid-2030s would it be more expensive to use fossil fuels on ships rather than green fuels. \u003c/p\u003e\u003cp\u003e“We continue to strongly urge the International Maritime Organization’s (IMO’s) member states to level the playing field by adopting a global green fuel standard and an ambitious pricing mechanism which the industry urgently needs,” Boulos said. \u003c/p\u003e\u003cp\u003eMember states of the IMO are working on reaching an agreement on the \u003ca href=\"https://www.joc.com/article/midterm-emissions-plan-to-take-center-stage-at-upcoming-imo-meeting-5731399\"\u003eproposed midterm measures\u003c/a\u003e before they are approved at the MEPC 83 meeting in April 2025, with adoption of the measures in October next year. \u003c/p\u003e\u003cp\u003eIf the IMO is not able to roll out the midterm measures in autumn next year, there are fears the maritime industry will not be able to meet its interim targets. \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 16,592-TEU Alexandra Maersk, part of an 18-ship dual-fuel order, is presented to customers by CEO Vincent Clerc at a recent naming ceremony in Felixstowe. Photo credit: Maersk.","__typename":"Metadata"},"ModDate":"1730311995540","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":"1730299520000","TitlePlainText":"Maersk secures long-term methanol supply in China production deal","Published":true,"Redirects":[{"Path":"/article/maersk-secures-long-term-methanol-supply-in-china-production-deal-5781961","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eWith this latest deal, the combined methanol offtake agreements Maersk now has in place will meet half the demand from its fast-growing dual-fuel fleet in 2027.\u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"With this latest deal, the combined methanol offtake agreements Maersk now has in place will meet half the demand from its fast-growing dual-fuel fleet in 2027.","__typename":"Document"},{"Id":"5778669_JournalOfCommerce","Attachments":[{"FileName":"5778659_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003e\u003ci\u003eCorrection: The Platts spot rate for West Coast exports was corrected to $300 from $400.\u003c/i\u003e\u003c/p\u003e\u003cp\u003eThe US export market is facing some operational hurdles amid peak season for some agricultural commodities, with shippers saying delays at ports and inland hubs are making it hard to secure equipment and hit berthing windows.\u003c/p\u003e\u003cp\u003eDescribed by sources as an ongoing problem growing worse, shippers and forwarders are reporting slowdowns at several inland gateways, including Minneapolis and Omaha, that are linked to seasonality, equipment placement, \u003ca href=\"https://www.joc.com/article/ila-usmx-agree-on-new-wage-offer-and-contract-extension-that-reopens-ports-5741882\"\u003elabor disruption\u003c/a\u003e and carrier behavior.\u003c/p\u003e\u003cp\u003e“There isn’t a fundamental difference in [export] volumes this year,” said Peter Friedmann, executive director of the Agriculture Transportation Coalition (AgTC). “What is more difficult, however, is that in some markets we have carriers engaged in blank sailings, slower sailings and less service.”\u003c/p\u003e\u003cp\u003eStill, agriculture export volumes have seen growth of late, according to PIERS, a sister product of the \u003ci\u003eJournal of Commerce\u003c/i\u003e within S\u0026amp;P Global. In August, the most recent data available, US containerized agricultural exports were up 12.5% year over year. \u003c/p\u003e\u003cp\u003eAccording to Sea-Intelligence Maritime Analysis, trans-Pacific westbound reliability had been mostly improving since February, reaching 64.8% in August. In September, however, it dropped to 63.6%, marking the first reduction since April. In addition to inland bottlenecks, exporters point to hurdles faced on a terminal-by-terminal basis, especially at the ports of Los Angeles and Long Beach. \u003c/p\u003e\u003cp\u003e“We are seeing a lot of instability in the sailing schedules and heavy congestion on West Coast routings due to all the diverted cargo,” said a non-vessel-operating common carrier (NVO) close to the export trade. “The main challenge right now \u003ca href=\"https://www.joc.com/article/up-pins-performance-slip-on-communication-gap-over-uswc-cargo-surge-5773561\"\u003eis poor rail service\u003c/a\u003e — especially to the US West Coast, and problems with vessel schedules and space. It’s temporary but very disruptive.”\u003c/p\u003e\u003cp\u003eThe West Coast delays, made worse by \u003ca href=\"https://www.joc.com/article/us-west-coast-cargo-surge-boosts-q3-intermodal-numbers-5751694\"\u003ea third-quarter cargo surge\u003c/a\u003e, are risking time-sensitive agriculture exports, a source said. The Pacific Merchant Shipping Association (PMSA) reported that dwell times for rail-bound containers at \u003ca href=\"https://www.joc.com/article/la-lb-rail-dwells-spike-to-two-year-high-amid-record-imports-in-september-5750222\"\u003ethe ports of Los Angeles and Long Beach rose to 9.25 days on average in September\u003c/a\u003e, the highest since October 2022. \u003c/p\u003e\u003cp\u003e\u003cb\u003eEast Coast export rates softening\u003c/b\u003e\u003c/p\u003e\u003cp\u003eExport rates have softened for the trans-Pacific Asia-bound trade out of the East Coast, according to Platts, a sister company of the \u003ci\u003eJournal of Commerce\u003c/i\u003e within S\u0026amp;P Global. Spot rates for cargo bound for North Asia were assessed at $400 per FEU as of Oct. 24, down 11% on the week and down from $550 per FEU one year ago. West Coast export rates were unchanged at $300 per FEU. Despite the decline from the East Coast, sources do not expect further degradation as long as import rates remain around current levels, which impacts carrier margins on exports. \u003c/p\u003e\u003cdiv class=\"wrapper-narrow\"\u003e\u003cdynamic-object type=\"jocchartid\" resource-id=\"8438aaef-650a-4928-9f63-315217f3a76e\"\u003e\u003c/dynamic-object\u003e\u003c/div\u003e\u003cp\u003eStill, the NVO source said shipping schedules that were briefly disrupted by the short-lived strike at East and Gulf coast ports will soon return to a more normal cadence — but that return to normalcy will rely in part on East Coast exports returning to pre-strike levels, especially as West Coast ports continue to work to clear out backlogs. \u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Laura Robb at \u003c/i\u003e\u003ca href=\"mailto:Laura.Robb@spglobal.com\"\u003e\u003ci\u003eLaura.Robb@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":"In addition to inland bottlenecks, exporters point to hurdles faced on a terminal-by-terminal basis, especially at the ports of Los Angeles and Long Beach. Photo credit: Robert V Schwemmer / Shutterstock.","__typename":"Metadata"},"ModDate":"1730737756943","Taxonomy":{"MainCategory":[{"Id":"9","Name":"Container Shipping News","Redirects":[{"Path":"/maritime/container-shipping-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"AdditionalCategories":[{"Id":"9","Name":"Container Shipping News","Redirects":[{"Path":"/maritime/container-shipping-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"10","Name":"Port News","Redirects":[{"Path":"/maritime/port-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"12","Name":"Rail News","Redirects":[{"Path":"/surface/rail-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"34","Name":"Container lines","Redirects":[{"Path":"/maritime/container-shipping-news/container-lines","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"38","Name":"Trans-Pacific","Redirects":[{"Path":"/maritime/container-shipping-news/trans-pacific","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"42","Name":"North American ports","Redirects":[{"Path":"/maritime/port-news/north-american-ports","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"Laura Robb, Associate Editor","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1729885405000","TitlePlainText":"US export market navigating ‘disruptive’ peak season amid ag shipment growth","Published":true,"Redirects":[{"Path":"/article/us-export-market-navigating-disruptive-peak-season-amid-ag-shipment-growth-5778669","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eShippers and forwarders are reporting slowdowns at several inland gateways that are linked to seasonality, equipment placement, labor disruption and carrier behavior.\u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"Shippers and forwarders are reporting slowdowns at several inland gateways that are linked to seasonality, equipment placement, labor disruption and carrier behavior.","__typename":"Document"},{"Id":"5773418_JournalOfCommerce","Attachments":[{"FileName":"5773385_0.1.PNG","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eHapag-Lloyd has joined soon-to-be alliance partner Maersk in raising its full-year profit forecast following the release of preliminary nine-month figures that beat the carrier’s expectations. \u003c/p\u003e\u003cp\u003eEven though the results are significantly below the same period a year ago, this year’s early peak season out of Asia and the high rates and demand that sustained through the third quarter enabled Hapag-Lloyd to raise its 2024 profit guidance. \u003c/p\u003e\u003cp\u003e“Given the current course of business, characterized by stronger-than-expected demand and improved freight rates, and despite increased expenses related to the necessary diversion of vessels around the Cape of Good Hope...Hapag-Lloyd is raising its earnings outlook for the financial year 2024,” the carrier said in a statement Thursday. \u003c/p\u003e\u003cp\u003eHapag-Lloyd now expects full-year earnings before interest, taxes, appreciation and amortization (EBITDA) to be in the range of $4.6 billion to $5 billion, up from prior guidance of $3.5 billion to $4.6 billion. EBIT guidance was raised to the range of $2.4 billion to $2.8 billion, up from $1.3 billion to $2.4 billion. \u003c/p\u003e\u003cp\u003eNo revenue, net earnings or volume figures were provided in the unaudited nine-month figures, but the Hamburg-based carrier achieved unaudited EBITDA of $3.6 billion, down 20% year over year. EBIT of $1.9 billion in the first nine months was a decline of 36% compared with the same period last year. \u003c/p\u003e\u003cp\u003eGreater visibility of the fourth quarter enabled Hapag-Lloyd to add more than $1 billion to the lower end of its revised full-year guidance, but the carrier also added a caveat. “Against the backdrop of very volatile freight rates and major geopolitical challenges, the forecast is subject to a high degree of uncertainty,” the carrier cautioned. \u003c/p\u003e\u003cdiv class=\"wrapper-narrow\"\u003e\u003cdynamic-object type=\"jocchartid\" resource-id=\"daac95d3-4633-4bcb-819e-559a0e49e613\"\u003e\u003c/dynamic-object\u003e\u003c/div\u003e\u003cp\u003eHapag-Lloyd’s final figures for the first nine months of 2024 will be published on Nov. 14. \u003c/p\u003e\u003cp\u003e\u003ca href=\"https://www.joc.com/article/maersk-hikes-full-year-profit-forecast-amid-expected-strong-q3-financials-5771869\"\u003eMaersk’s revised 2024 forecast\u003c/a\u003e also came off the back of strong third-quarter results combined with high demand and the continuation of the Red Sea diversions. The Copenhagen-based carrier is clearly expecting strong demand through the rest of the fourth quarter as shippers move cargo ahead of an early Lunar New Year that in 2025 falls on Jan. 29 compared with Feb. 10 this year. \u003c/p\u003e\u003cp\u003eCosco Shipping earlier this month told investors to \u003ca href=\"https://www.joc.com/article/peak-season-surge-drives-up-coscos-estimated-nine-month-earnings-5743886\"\u003eexpect a net profit of $6.17 billion\u003c/a\u003e for the first nine months of 2024, a 67% increase year over year, after its performance was also lifted by strong third-quarter peak season demand on the trans-Pacific and Asia-Europe trade lanes. \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":"Early peak season demand and high rates have extended through the third quarter. Photo credit: Hapag-Lloyd.","__typename":"Metadata"},"ModDate":"1729786274640","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":"1729781960000","TitlePlainText":"Hapag-Lloyd raises full-year forecast on ‘stronger than expected’ Q3","Published":true,"Redirects":[{"Path":"/article/hapag-lloyd-raises-full-year-forecast-on-stronger-than-expected-q3-5773418","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eThe first signs of solid third-quarter performances are being reported by ocean carriers, and with greater visibility over the rest of the year, they are ramping up their profitability expectations.\u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"The first signs of solid third-quarter performances are being reported by ocean carriers, and with greater visibility over the rest of the year, they are ramping up their profitability expectations.","__typename":"Document"},{"Id":"5771869_JournalOfCommerce","Attachments":[{"FileName":"5771845_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eMaersk on Tuesday raised its full-year profit forecast for the second time in three months, driven by expected third-quarter operating profit of $3.3 billion as the delayed effect of rising contract rates secured in the second quarter pushed earnings higher. \u003c/p\u003e\u003cp\u003eWhile the figures released by the carrier are preliminary — official earnings will be released Oct. 31 — the sharp increase in third-quarter profitability was predicted by Maersk executives in August after reporting a lukewarm second-quarter result. \u003c/p\u003e\u003cp\u003eThe unaudited figures show Maersk’s third-quarter revenue will reach $15.8 billion. Earnings before interest, taxes, depreciation and amortization (EBITDA) are expected at $4.8 billion, with earnings before interest and taxes (EBIT) at $3.3 billion. All three metrics are significantly higher than the same quarter last year. \u003c/p\u003e\u003cp\u003eThe profitable third quarter encouraged Maersk to again raise its annual EBIT forecast that had already been hiked by $2 billion in August. \u003c/p\u003e\u003cp\u003e“On the back of strong third-quarter results combined with strong container market demand and the continuation of the Red Sea situation, [A.P. Moller-Maersk] now expects full-year underlying EBITDA of $11 billion-$11.5 billion (previously $9 billion-$11 billion) and EBIT of $5.2 billion-$5.7 billion (previously $3 billion-$5 billion),” Maersk said in a statement to investors. \u003c/p\u003e\u003cp\u003eMaersk also raised its full-year outlook for container volume growth to the top end of the 4% to 6% range set back in August. The carrier is clearly expecting strong demand through the rest of the fourth quarter as shippers move cargo ahead of an early Lunar New Year that in 2025 falls on Jan. 29 compared to Feb. 10 this year. \u003c/p\u003e\u003ch3\u003eEarly start to pre-Lunar New Year shipping \u003c/h3\u003e\u003cp\u003eThe early start to China’s longest holiday, combined with the extended ocean transits around the Cape of Good Hope, will see volume beginning to pick up from early November, according to forwarders and cargo owners in the Asia-Europe market. \u003c/p\u003e\u003cp\u003eOn the trans-Pacific, shippers will be watching the US presidential election closely, with a potential Donald Trump victory likely to see a rush to advance orders and beat any tariff increases on imports before the inauguration on Jan. 20. \u003c/p\u003e\u003cp\u003eMeanwhile, rates on the trans-Pacific continue to decline as low demand and frontloading in the third quarter drag down prices. While still far above last year’s levels, average spot rates from North Asia to the US West Coast fell $300 in the past week to $4,000 per FEU, while Asia-US East Coast rates fell $200 to $4,200 per FEU, according to Platts, a sister company of the \u003ci\u003eJournal of Commerce\u003c/i\u003e within S\u0026amp;P Global. \u003c/p\u003e\u003cdiv class=\"wrapper-narrow\"\u003e\u003cdynamic-object type=\"jocchartid\" resource-id=\"daac95d3-4633-4bcb-819e-559a0e49e613\"\u003e\u003c/dynamic-object\u003e\u003c/div\u003e\u003cp\u003eOn the trans-Atlantic, North Europe to US East Coast rates fell $100 in the past week to $2,600 per FEU, while Asia-North Europe and Asia-Mediterranean rates remain unchanged at $2,900 per FEU and $3,400 per FEU, respectively. \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":"Maersk says its container volume growth will be 6% this year. Photo credit: Maersk. ","__typename":"Metadata"},"ModDate":"1729621636357","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":"1729609994000","TitlePlainText":"Maersk hikes full-year profit forecast amid expected strong Q3 financials","Published":true,"Redirects":[{"Path":"/article/maersk-hikes-full-year-profit-forecast-amid-expected-strong-q3-financials-5771869","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eIt marks the second time since August the carrier has increased its 2024 earnings guidance, an indication Maersk expects robust demand and rising rates to deliver a strong finish to the year.\u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"It marks the second time since August the carrier has increased its 2024 earnings guidance, an indication Maersk expects robust demand and rising rates to deliver a strong finish to the year.","__typename":"Document"},{"Id":"5750222_JournalOfCommerce","Attachments":[{"FileName":"5750190_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eRail container dwell times in the ports of Los Angeles and Long Beach surged to a two-year high in September as the largest US port complex handled record one-month volumes of imports from Asia, driven in part by retailers diverting cargo from East and Gulf coast ports ahead of the longshore strike there. \u003c/p\u003e\u003cp\u003eAnd while dwell times for containers leaving the LA-LB complex by truck hit their highest level since October 2023, terminal operators say the average of 3.21 days is not contributing to congestion. \u003c/p\u003e\u003cp\u003eThe Los Angeles-Long Beach port complex in September handled 874,730 TEUs of imports from Asia, besting the previous one-month record of 873,196 TEUs in May 2022 during the post-COVID import boom, according to PIERS, a sister company of \u003ci\u003ethe Journal of Commerce\u003c/i\u003e within S\u0026amp;P Global. \u003c/p\u003e\u003cp\u003eThe record imports in September sent rail container dwell times in LA-LB soaring to an average of 9.25 days, up from 8.2 days in August and the highest dwells since 14.2 days in October 2022, according to the Pacific Merchant Shipping Association (PMSA), which represents terminal operators and shipping lines on the West Coast. \u003c/p\u003e\u003cp\u003e“The situation is bad and it’s getting worse,” said Stephen A. Nothdurft, vice president of sales/North America at the forwarder MOL Consolidation Service (MCS). “As always, it’s a terminal-by-terminal situation.” \u003c/p\u003e\u003cdiv class=\"wrapper-narrow\"\u003e\u003cdynamic-object type=\"jocchartid\" resource-id=\"155dedc1-99f2-4adf-a449-1c9ab2510f95\"\u003e\u003c/dynamic-object\u003e\u003c/div\u003e\u003cp\u003eForwarders say their containers are sitting at some LA-LB terminals for 10 days or longer before they can be retrieved. \u003c/p\u003e\u003cp\u003e“We’ve had about three times our normal inventory on dock for about six weeks now,” said Alan McCorkle, president of Yusen Terminals in Los Angeles. \u003c/p\u003e\u003cp\u003eWith two weeks remaining in the peak shipping season, terminal operators expect imports will soften in the normally slow month of November. US imports from Asia hit 1.76 million TEUs in July, the highest since May 2022. That figure has gradually decreased — 1.74 million TEUs in August and 1.72 million TEUs in September — but continues to hover near two-year highs nonetheless. \u003c/p\u003e\u003cp\u003eCarriers have \u003ca href=\"https://www.joc.com/article/carriers-to-deploy-extra-loaders-to-los-angeles-long-beach-amid-import-surge-5714861\"\u003edeployed 28 extra-loader vessels in September and October\u003c/a\u003e, in addition to their normal weekly services, to handle the huge import volumes in the eastbound trans-Pacific headed to Los Angeles-Long Beach. But each port said just two extra-loaders are currently scheduled to call at their terminals in November, a sign that import volumes — and rail dwells — will decline. \u003c/p\u003e\u003ch3\u003eTerminals deploy different operating procedures \u003c/h3\u003e\u003cp\u003eSome terminals have been able to weather the elevated rail container dwells without experiencing significant congestion. \u003c/p\u003e\u003cp\u003e“Our [on-dock] inventory is 40% higher than we would like, but our [rail] dwells are still about four days,” said Anthony Otto, president of Long Beach Container Terminal (LBCT). LBCT is a fully automated container terminal and normally has among the lowest rail container dwells and truck turn times in the port complex. \u003c/p\u003e\u003cp\u003eMcCorkle said that when Yusen’s on-dock inventory surged last month, the terminal activated its near-dock temporary storage yard so inbound containers could be moved from the terminal as soon as they were discharged from the vessels. \u003c/p\u003e\u003cp\u003e“This has helped tremendously. There has been some backup, but we’ve kept our terminal fluid,” he said. \u003c/p\u003e\u003cp\u003eThe rail and truck container dwell times as tracked by PMSA vary widely from terminal to terminal based on their individual operating plans, the configuration of their on-dock railyards and the number of railcars positioned at their facilities. \u003c/p\u003e\u003cp\u003eNoel Hacegaba, COO at the Port of Long Beach, said the average rail container dwell at the port’s six container terminals was seven days. While that was up from four days in July, it was about two days less than PMSA’s average dwell time for the LA-LB gateway. Overall operations at Long Beach’s six container terminals remain fluid, he said. \u003c/p\u003e\u003cp\u003e“We are busy, but not congested,” Hacegaba said. “We are at 73% capacity and still have room to handle additional volume.” \u003c/p\u003e\u003ch3\u003eImports, rail container dwells expected to peak soon \u003c/h3\u003e\u003cp\u003eImports are projected to peak in Los Angeles at 125,882 TEUs during the week of Oct. 20 before dropping to 111,713 TEUs the next week, while Long Beach’s imports are expected to fall from 102,756 TEUs next week to 87,780 TEUs in the week of Oct. 27, according to data from the ports. \u003c/p\u003e\u003cdiv class=\"wrapper-narrow\"\u003e\u003cdynamic-object type=\"jocchartid\" resource-id=\"217f56e4-413e-45e2-9df5-fc12cc20fc70\"\u003e\u003c/dynamic-object\u003e\u003c/div\u003e\u003cp\u003eNovember is normally a slow month in the eastbound trans-Pacific because most of the holiday merchandise arrives at the ports by late October so retailers can stock their shelves in time for the Black Friday sales on the day after Thanksgiving. \u003c/p\u003e\u003cp\u003eWhile that should be the case again this year, Los Angeles-Long Beach could capture a higher share of total US imports from Asia if the contract negotiations between the International Longshoremen’s Association (ILA) and East and Gulf coast employers drag on next month and through December. The ILA ended its three-day strike on Oct. 3 with a tentative agreement on wages and agreed to extend the deadline for reaching a new coastwide contract until Jan. 15 \u003ca href=\"https://www.joc.com/article/despite-tentative-wage-deal-usmx-and-ila-have-bumpy-road-ahead-on-other-key-issues-5743997\"\u003eso the two sides could negotiate other key issues\u003c/a\u003e. \u003c/p\u003e\u003cp\u003eRetailers with time-sensitive spring merchandise will likely continue to ship through Southern California until a final contract is reached, forwarders said. \u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Bill Mongelluzzo at \u003c/i\u003e\u003ca href=\"mailto:bill.mongelluzzo@spglobal.com \"\u003e\u003ci\u003ebill.mongelluzzo@spglobal.com\u003c/i\u003e\u003c/a\u003e.\u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Laura Robb at \u003c/i\u003e\u003ca href=\"mailto:laura.robb@spglobal.com\"\u003e\u003ci\u003elaura.robb@spglobal.com\u003c/i\u003e\u003c/a\u003e.\u003c/p\u003e\u003c/div\u003e","Metadata":{"BylineOverwrite":null,"AuthorCompanyOrEventLink":null,"PaywallLocked":true,"FeatureImageCopyright":"LBCT is a fully automated container terminal and normally has among the lowest rail container dwells and truck turn times in the LA-LB port complex. Photo credit: Ringo Chiu / Shutterstock.com.","__typename":"Metadata"},"ModDate":"1729115595533","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":"10","Name":"Port News","Redirects":[{"Path":"/maritime/port-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"38","Name":"Trans-Pacific","Redirects":[{"Path":"/maritime/container-shipping-news/trans-pacific","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"42","Name":"North American ports","Redirects":[{"Path":"/maritime/port-news/north-american-ports","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"43","Name":"Marine terminals","Redirects":[{"Path":"/maritime/port-news/marine-terminals","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"Laura Robb, Associate Editor","__typename":"ConnectAuthorsValues"},{"Value":"Bill Mongelluzzo, Senior Editor","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1729109534000","TitlePlainText":"LA-LB rail dwells spike to two-year high amid record imports in September","Published":true,"Redirects":[{"Path":"/article/la-lb-rail-dwells-spike-to-two-year-high-amid-record-imports-in-september-5750222","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eForwarders say their containers are sitting at some terminals for 10 days or longer before they can be retrieved, although some relief in import volumes and dwell times is expected next month.\u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"Forwarders say their containers are sitting at some terminals for 10 days or longer before they can be retrieved, although some relief in import volumes and dwell times is expected next month.","__typename":"Document"},{"Id":"5747268_JournalOfCommerce","Attachments":[{"FileName":"5747253_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eOcean carriers have dropped ad hoc surcharges that were linked to last week’s short-lived longshore strike along the US East and Gulf coasts, adding downward pressure to freight rates that have fallen sharply in recent weeks. \u003c/p\u003e\u003cp\u003e“The strike fees are dead,” one forwarder told the \u003ci\u003eJournal of Commerce\u003c/i\u003e. \u003c/p\u003e\u003cp\u003eCarriers began pulling the charges shortly after \u003ca href=\"https://www.joc.com/article/ila-usmx-agree-on-new-wage-offer-and-contract-extension-that-reopens-ports-5741882\"\u003ethe end of the strike was announced on Oct. 3\u003c/a\u003e. Pressure to do so came even earlier when Transportation Secretary Pete Buttigieg suggested that carriers withdraw any surcharges, saying that “no one should exploit a disruption for profit.” \u003c/p\u003e\u003cp\u003eLiners began implementing surcharges on containers whose movement would be disrupted by the International Longshoremen’s Association (ILA) strike. Some of the fees were hefty — Ocean Network Express (ONE), for example, announced a “congestion” surcharge of up to $2,000 per FEU. ONE, CMA CGM and OOCL are among carriers who have withdrawn the surcharges. \u003c/p\u003e\u003cp\u003e“The strike-related surcharges were cancelled relatively quickly considering the port operation situation at ports was better than initially expected,” said a carrier source. \u003c/p\u003e\u003cp\u003eAdded a second freight forwarder: “Contract holders are receiving cancellations of the surcharges. We had most of ours sent late last week and on Monday.” \u003c/p\u003e\u003cdiv class=\"wrapper-narrow\"\u003e\u003cdynamic-object type=\"jocchartid\" resource-id=\"e7a65aab-9aac-4f07-9b74-1793746c01ef\"\u003e\u003c/dynamic-object\u003e\u003c/div\u003e\u003cp\u003eSpot rates for Asia to the East Coast were pegged at $4,300 per FEU this week, according to Platts, a sister company of the \u003ci\u003eJournal of Commerce\u003c/i\u003e within S\u0026amp;P Global. That’s down from $7,350 per FEU on Sept. 6. \u003c/p\u003e\u003cp\u003eEx-Asia cargo into the West Coast was assessed at $4,200 per FEU — marking the narrowest differential with the East Coast ever observed on the Platts index. For the second half of October, some sources have reported observing offers on the two lanes at total parity. \u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Laura Robb at \u003c/i\u003e\u003ca href=\"mailto:laura.robb@spglobal.com\"\u003e\u003ci\u003elaura.robb@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":"Spot rates for Asia to the East Coast were pegged at $4,300 per FEU this week, just $100 higher than rates to the West Coast. Photo credit: ambient_pix / Shutterstock.com.","__typename":"Metadata"},"ModDate":"1728678615310","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":"38","Name":"Trans-Pacific","Redirects":[{"Path":"/maritime/container-shipping-news/trans-pacific","__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":"Laura Robb, Associate Editor","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1728672974000","TitlePlainText":"Strike surcharges disappear as spot rates for US West, East coasts near parity","Published":true,"Redirects":[{"Path":"/article/strike-surcharges-disappear-as-spot-rates-for-us-west-east-coasts-near-parity-5747268","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eCarriers began pulling the charges shortly after the end of the strike was announced last week, while pressure to do so came even earlier from Transportation Secretary Pete Buttigieg.\u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"Carriers began pulling the charges shortly after the end of the strike was announced last week, while pressure to do so came even earlier from Transportation Secretary Pete Buttigieg.","__typename":"Document"},{"Id":"5746649_JournalOfCommerce","Attachments":[{"FileName":"5746608_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eAsia-to-US freight rates at the tail end of the peak shipping season are falling faster than is typical for this time of year given the heavy frontloading that occurred months earlier that is also expected to result in weaker-than-normal imports from Asia in November, forwarders tell the \u003ci\u003eJournal of Commerce.\u003c/i\u003e \u003c/p\u003e\u003cp\u003eRetailers \u003ca href=\"https://www.joc.com/article/near-record-surge-possible-for-us-imports-in-august-retail-group-5703194\"\u003efrontloaded holiday season imports in August\u003c/a\u003e to ensure they arrived before the \u003ca href=\"https://www.joc.com/article/despite-tentative-wage-deal-usmx-and-ila-have-bumpy-road-ahead-on-other-key-issues-5743997\"\u003estrike by East and Gulf coast dockworkers on Oct. 1\u003c/a\u003e, which lasted for three days. The huge import volumes that moved across US docks in August are also muting the post-Golden Week bounce that normally occurs in mid-October when retailers ship their high-value holiday merchandise through the West Coast. \u003c/p\u003e\u003cp\u003e“The degree of frontloading in 2024 may have been more than some analysts realized,” Paul Bingham, director of transportation consulting for S\u0026amp;P Global Market Intelligence said. “That might account for softness in import demand now and through the rest of the year.” \u003c/p\u003e\u003cp\u003eIt might also account for rates that have fallen 49% to the East Coast and 25% to the West Coast since Aug. 30, according to Platts, a \u003ci\u003eJournal of Commerce\u003c/i\u003e sister company within S\u0026amp;P Global. \u003c/p\u003e\u003cp\u003eThe East Coast spot rate as of Oct. 7 was $4,300 per FEU, Platts data showed, with the West Coast rate at $4,200. The near parity of rates is unusual because the East Coast typically carries a nearly $1,000 per FEU premium to the West Coast rate. \u003c/p\u003e\u003cdiv class=\"wrapper-narrow\"\u003e\u003cdynamic-object type=\"jocchartid\" resource-id=\"e7a65aab-9aac-4f07-9b74-1793746c01ef\"\u003e\u003c/dynamic-object\u003e\u003c/div\u003e\u003ch3\u003eDoubts about upcoming GRI \u003c/h3\u003e\u003cp\u003eSources, meanwhile, say at least two trans-Pacific carriers have announced a $600 per FEU general rate increase (GRI) to the West Coast effective Oct. 15, but there is widespread skepticism that the GRI will hold because imports are expected to diminish next month. \u003c/p\u003e\u003cp\u003e“[Carriers] are trying to push the market in a direction where it doesn’t make sense to go, based on what we’re seeing in demand,” said Benton Kauffman, senior vice president/head of trans-Pacific air and sea for US logistics at DSV Global Transport and Logistics. \u003c/p\u003e\u003cp\u003eFurthermore, while they’re trying to raise rates, most carriers are offering special ad hoc “bullet” rates that undercut the posted spot and freight-all-kinds (FAK) rates. \u003c/p\u003e\u003cp\u003e“While the carriers are trying to keep the rates up, they’re cutting deals at the same time,” Jon Monroe, who serves as an adviser to non-vessel-operating common carriers (NVOs), told the \u003ci\u003eJournal of Commerce\u003c/i\u003e. \u003c/p\u003e\u003cp\u003eCarriers since late spring have been \u003ca href=\"https://www.joc.com/article/capacity-boost-on-trans-pacific-pushes-carriers-to-compete-for-cargo-5711329\"\u003eoffering bullet rates that are hundreds of dollars lower than the listed spot/FAK rates\u003c/a\u003e, especially to the West Coast, where space on vessels is plentiful because carriers this year have \u003ca href=\"https://www.joc.com/article/some-carriers-seek-to-reopen-202425-fixed-rate-contracts-in-trans-pac-nvos-5727340\"\u003elaunched or reinstated 10 services\u003c/a\u003e. It makes sense that carriers are attempting to keep their FAK rates from sinking lower because not all NVOs qualify for the bullet rates either because of the port pairs involved or because they lack the volume carriers are looking for, Monroe said. \u003c/p\u003e\u003cdiv class=\"wrapper-narrow\"\u003e\u003cdynamic-object type=\"jocchartid\" resource-id=\"4ed96169-fa34-4b46-81e8-b67860854e39\"\u003e\u003c/dynamic-object\u003e\u003c/div\u003e\u003cp\u003eForwarders and logistics consultants say West Coast volumes should remain elevated through the end of the month before dropping into November. “October is still strong,” said Sanjay Tejwani, CEO of 365 Logistics. “A lot of volume was [diverted] to the West Coast, so they’re still enjoying a strong October.” \u003c/p\u003e\u003ch3\u003ePeak season surcharges heading lower? \u003c/h3\u003e\u003cp\u003eIn addition to FAK rates sinking lower in November, peak season surcharges (PSSs), which are applied to NVOs’ fixed rates — also known as named account (NAC) rates — are expected to be under pressure next month. \u003c/p\u003e\u003cp\u003eMost carriers on May 1 implemented a $2,000 per FEU PSS on forwarders’ NAC rates, and those charges have generally held. Some carriers are telling forwarders they are willing to lower the PSSs effective Nov. 1, said Christian Sur, executive vice president for ocean freight contract logistics at the NVO Unique Logistics International. \u003c/p\u003e\u003cp\u003e“They may come down to $1,200 to $1,500 after Oct. 31,” Sur said. The combined NAC plus PSS rate of about $3,000 per FEU will still be lower than the listed FAK rate of about $4,200 per FEU to the West Coast, Sur said. \u003c/p\u003e\u003cp\u003e“By and large, November and the first half of December will be pretty quiet,” said James Caradonna, executive vice president of the forwarder M\u0026amp;R Spedag Group. \u003c/p\u003e\u003cp\u003eThe Lunar New Year holidays, when many factories in Asia close for a week or two, will begin on Jan. 29, so imports of spring merchandise are expected to begin moving in mid-December. \u003c/p\u003e\u003cp\u003eForwarders anticipate a traditional pre-Lunar New Year spike in imports to both coasts, unless the tentative contract between the ILA and employers on the East and Gulf coasts \u003ca href=\"https://www.joc.com/article/despite-tentative-wage-deal-usmx-and-ila-have-bumpy-road-ahead-on-other-key-issues-5743997\"\u003eshows signs of fraying as the Jan. 15 deadline to finalize the agreement approaches\u003c/a\u003e. \u003c/p\u003e\u003cp\u003eIf tangible signs of progress in the negotiations are not being shown by about mid-December, retailers could begin to route discretionary cargo through the West Coast, said Rachel Shames, vice president of pricing and procurement at the forwarder CV International. \u003c/p\u003e\u003cp\u003e“The ILA deadline is the only wildcard,” Shames said. \u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Bill Mongelluzzo at \u003c/i\u003e\u003ca href=\"mailto:bill.mongelluzzo@spglobal.com\"\u003e\u003ci\u003ebill.mongelluzzo@spglobal.com\u003c/i\u003e\u003c/a\u003e.\u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Laura Robb at \u003c/i\u003e\u003ca href=\"mailto:laura.robb@spglobal.com\"\u003e\u003ci\u003elaura.robb@spglobal.com\u003c/i\u003e\u003c/a\u003e\u003ci\u003e.\u003c/i\u003e \u003c/p\u003e\u003c/div\u003e","Metadata":{"BylineOverwrite":"Bill Mongelluzzo, Senior Editor and Laura Robb, Associate Editor","AuthorCompanyOrEventLink":null,"PaywallLocked":true,"FeatureImageCopyright":"Peak season surcharges on forwarders’ named account rates could begin to deteriorate in November. Photo credit: Pandora Pictures / Shutterstock.com.","__typename":"Metadata"},"ModDate":"1728597074857","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":"10","Name":"Port News","Redirects":[{"Path":"/maritime/port-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"38","Name":"Trans-Pacific","Redirects":[{"Path":"/maritime/container-shipping-news/trans-pacific","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"42","Name":"North American ports","Redirects":[{"Path":"/maritime/port-news/north-american-ports","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1728593894000","TitlePlainText":"Heavy frontloading sets up US-Asia trade for falling rates, imports","Published":true,"Redirects":[{"Path":"/article/heavy-frontloading-sets-up-us-asia-trade-for-falling-rates-imports-5746649","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eThe huge import volumes that moved across US docks in August are also muting the post-Golden Week bounce that normally occurs in mid-October when retailers ship their high-value holiday merchandise through the West Coast.\u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"The huge import volumes that moved across US docks in August are also muting the post-Golden Week bounce that normally occurs in mid-October when retailers ship their high-value holiday merchandise through the West Coast.","__typename":"Document"},{"Id":"5741052_JournalOfCommerce","Attachments":[{"FileName":"5740986_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eRetailers and other importers who normally ship through the US East and Gulf coasts to destinations in the eastern half of the country say they have a short window to decide whether to begin rerouting goods through West Coast ports. \u003c/p\u003e\u003cp\u003eThree shippers, speaking on the condition of anonymity, told the \u003ci\u003eJournal of Commerce\u003c/i\u003e that if \u003ca href=\"https://www.joc.com/article/ilas-daggett-promises-dockworkers-great-contract-as-strike-begins-5739618\"\u003ethe International Longshoremen’s Association (ILA) strike\u003c/a\u003e is resolved by the end of next week, they will likely continue to ship through East and Gulf coast ports. However, if it looks as though the strike will continue for more than a week, they must consider routings through US and Canadian West Coast ports, which would bring higher costs and possibly a limited capacity of the western railroads to handle a sustained surge of freight. \u003c/p\u003e\u003cp\u003e“I’m not going to make a knee-jerk reaction,” said an importer of furniture and home improvement merchandise who asked not to be identified. “Let’s see what happens, but once the pain of a week or two takes hold, there is the option to reroute through the West Coast.” \u003c/p\u003e\u003cp\u003eThose diversions “can make things worse from a cost and shipping cycle pattern,” the logistics manager acknowledged. \u003c/p\u003e\u003cp\u003eJon Monroe, who serves as an adviser to non-vessel-operating common carriers (NVOs), said shippers have little choice but to divert freight if the strike drags on. \u003c/p\u003e\u003cp\u003e“They’ll have to transload through the West Coast,” he said. “There is no Plan B.” \u003c/p\u003e\u003cp\u003eVessel capacity this week and next will remain abundant, with utilization rates on ships leaving Asia hovering near 50%, carriers say. Carriers the past two weeks had attempted to overbook vessels and build container “roll pools” in anticipation of the Golden Week holidays that began over the weekend, but demand was too weak to support roll pools, NVOs and carriers said. \u003c/p\u003e\u003cp\u003eAverage spot rates from Asia to the US East Coast reached $4,500 per FEU as of Tuesday, down 8% week over week, while Asia-West Coast rates were $4,000 per FEU, down 1%, according to Platts, a sister product of the \u003ci\u003eJournal of Commerce\u003c/i\u003e within S\u0026amp;P Global. \u003c/p\u003e\u003cp\u003eBut if the ILA strike drags on, “we expect West Coast rates to jump and [vessel] space to be super tight to the West Coast,” an importer in the automotive sector said. \u003c/p\u003e\u003ch3\u003eRail capacity concerns \u003c/h3\u003e\u003cp\u003eImporters are concerned, however, about the capacity of the western railroads, inland rail hubs and distribution centers to handle a sustained surge of inland point intermodal (IPI) freight diverted from East and Gulf coast ports. They note that the BNSF and Union Pacific (UP) railroads are already handling record eastbound IPI volumes. \u003c/p\u003e\u003cp\u003eFor their part, BNSF and UP say they have been preparing for a strong peak season on the West Coast and have pre-positioned sufficient intermodal assets in Southern California and the Pacific Northwest to handle cargo diversions should the ILA strike continue for several weeks. \u003c/p\u003e\u003cp\u003eIn a Monday letter to Robert Primus, chairman of the US Surface Transportation Board, UP CEO Jim Vena said the railroad has established a “buffer of resources” to handle its growing intermodal traffic this fall that has been driven in part by a shift of cargo from the East and Gulf coast ports to the West Coast. \u003c/p\u003e\u003cp\u003e“In September alone, our year-over-year volumes are up over 40%,” Vena wrote. “We expect some of these shifts to continue, and we are well positioned to support it.” \u003c/p\u003e\u003cp\u003eUP increased its well car supply for intermodal containers in Southern California beginning in September. UP also added crews at inland intermodal ramps, including its Global 4 facility outside of Chicago, and in Marion, Ark., and positioned additional equipment at Global 4 that enabled more efficient stacking and unstacking of containers. \u003c/p\u003e\u003cp\u003eBNSF has invested $2.6 billion in expansion projects and equipment throughout its network since 2019, which enabled the railroad to handle record imports and intermodal volumes in Los Angeles-Long Beach in August, the railroad told the \u003ci\u003eJournal of Commerce\u003c/i\u003e. \u003c/p\u003e\u003cp\u003e“BNSF has been able to handle these record volumes due to the numerous steps we have already taken, and currently our network is fluid, with no international trains holding,” the railroad said. “BNSF is carefully monitoring the situation with the East and Gulf Coast ports and is fully prepared for any shifts in demand for our rail services.” \u003c/p\u003e\u003ch3\u003e‘I wouldn’t risk it’ \u003c/h3\u003e\u003cp\u003eMost retailers on the East Coast frontloaded their holiday merchandise in June and July, an industry consultant who formerly served as a logistics manager at big-box retailers told the \u003ci\u003eJournal of Commerce\u003c/i\u003e. With the ILA strike underway, those retailers must now decide whether they should continue to ship their replenishment merchandise on all-water services to the East and Gulf coasts with the likelihood of vessel backups mounting each day the strike goes on. \u003c/p\u003e\u003cp\u003e“I wouldn’t risk it,” the consultant said. \u003c/p\u003e\u003cp\u003eAlthough most retailers have several weeks of inventory in stock, those excess stocks could run out by late October, the consultant added. \u003c/p\u003e\u003cp\u003eLawrence Burns, president of Lawrence Burns Consulting, said he’s advising clients to delay merchandise destined for the eastern half of the country at origin. If the ILA strike continues beyond next week, Burns will advise clients to start shipping more product through the West Coast but be prepared to pay more in warehousing and inland transportation costs. \u003c/p\u003e\u003cp\u003e“You can’t even gauge how much the cost will go up,” Burns said. \u003c/p\u003e\u003cp\u003eOn the other hand, most carriers are now levying a congestion surcharge of $1,000 to $3,000 per FEU on shipments destined to East and Gulf coast ports, the automotive shipper said. Avoiding those surcharges would mitigate somewhat the added cost of hauling containers inland from West Coast ports, he said. \u003c/p\u003e\u003cp\u003eSteve Hughes, president of the automotive industry logistics consulting firm HCS International, said that with rail container dwell times in Los Angeles-Long Beach and at transloading facilities in Southern California already going up, and trucking spot rates on the rise, all importers should expect to pay higher total transportation costs going forward. \u003c/p\u003e\u003cp\u003e“These costs are all extremely inflationary,” Hughes said. \u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Bill Mongelluzzo at \u003c/i\u003e\u003ca href=\" bill.mongelluzzo@spglobal.com\"\u003e\u003ci\u003ebill.mongelluzzo@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":"Routing imports through the West Coast and moving them to the eastern US by rail or truck is costly and could overload an intermodal rail system already handling record volumes. Photo credit: Underawesternsky / Shutterstock.com.","__typename":"Metadata"},"ModDate":"1727905097950","Taxonomy":{"MainCategory":[{"Id":"38","Name":"Trans-Pacific","Redirects":[{"Path":"/maritime/container-shipping-news/trans-pacific","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"AdditionalCategories":[{"Id":"45","Name":"Longshore labor","Redirects":[{"Path":"/maritime/port-news/longshore-labor","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"Bill Mongelluzzo, Senior Editor","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1727898974000","TitlePlainText":"Window to divert strike-affected imports to West Coast closing soon","Published":true,"Redirects":[{"Path":"/article/window-to-divert-strike-affected-imports-to-west-coast-closing-soon-5741052","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003e If the International Longshoremen’s Association (ILA) strike continues past next week, shippers say they will likely book more freight through West Coast ports, rather than risk being caught up in logjams at East and Gulf coast ports.\u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"If the International Longshoremen’s Association (ILA) strike continues past next week, shippers say they will likely book more freight through West Coast ports, rather than risk being caught up in logjams at East and Gulf coast ports.","__typename":"Document"},{"Id":"5735909_JournalOfCommerce","Attachments":[{"FileName":"5735926_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eThe Port of Charleston’s Hugh K. Leatherman marine terminal is officially reopening to container ships this week with an ad hoc vessel call, while Zim Integrated Shipping has become the first carrier to commit to a weekly trans-Pacific service there. \u003c/p\u003e\u003cp\u003eThat follows \u003ca href=\"\"\u003ea deal between the port and the International Longshoremen’s Association (ILA) that allows state dockworkers to join the union\u003c/a\u003e. \u003c/p\u003e\u003cp\u003eThe South Carolina Ports Authority (SC Ports) said in a statement Wednesday that Leatherman’s truck gates will reopen for container transactions on Thursday, with the terminal expecting an ad hoc call by the 7,379-TEU \u003ci\u003eCosco Shipping Orchid\u003c/i\u003e, which is due to move about 1,700 containers. \u003c/p\u003e\u003cp\u003eNext week, Leatherman is tentatively scheduled to receive the 15,000-TEU \u003ci\u003eZim Mount Blanc\u003c/i\u003e on Oct. 6. The ship is part of the Zim Container Service Pacific (ZCP) rotation, which includes northern China, South Korea and US Southeast ports. \u003c/p\u003e\u003cp\u003eOf course, the scheduled call remains at the mercy of whether the ILA walks off the job — as is expected — on Oct. 1. SC Ports did not say what plans Zim has for the ship in the event of a terminal closure, but indicated the reopening of the Leatherman berth should help the port bounce back quickly from a potential strike. \u003c/p\u003e\u003cp\u003eThe ZCP, which had originally called Charleston’s Wando Welch terminal, would be the first weekly service by a major ocean carrier to officially start using Leatherman in more than three years. \u003c/p\u003e\u003cp\u003eThe $1 billion facility, the first greenfield marine terminal built in the US in nearly a decade, has sat largely idle since its opening in 2021 amid \u003ca href=\"https://www.joc.com/article/sc-ports-turns-to-us-supreme-court-in-bid-for-relief-over-leatherman-dispute-5201466\"\u003ea protracted dispute with the ILA over control of crane operator jobs at the port\u003c/a\u003e. Along with handling niche ocean carriers, Leatherman has served as a lay berth for repairs and maintenance. \u003c/p\u003e\u003cp\u003eAfter \u003ca href=\"https://www.joc.com/article/supreme-court-declines-to-hear-sc-ports-appeal-of-leatherman-ruling-5200331\"\u003ea series of legal cases that upheld the ILA’s right to sue ocean carriers for calling a non-union marine terminal,\u003c/a\u003e SC Ports struck a deal with the ILA in June that would allow Charleston’s crane operators — who are non-union state employees — to join the ILA. \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":"The Leatherman marine terminal expects to have regular vessel service resume in October, but a coastwide strike could delay that. Photo credit: SC Ports / English Hurteau. ","__typename":"Metadata"},"ModDate":"1727300175097","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":"34","Name":"Container lines","Redirects":[{"Path":"/maritime/container-shipping-news/container-lines","__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":"Michael Angell, Senior Editor","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1727299454000","TitlePlainText":"Zim becomes first carrier to commit to reopened Leatherman terminal","Published":true,"Redirects":[{"Path":"/article/zim-becomes-first-carrier-to-commit-to-reopened-leatherman-terminal-5735909","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eThe $1 billion facility at the Port of Charleston has sat largely idle since its opening in 2021 amid a protracted dispute with the ILA over control of crane operator jobs. \u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"The $1 billion facility at the Port of Charleston has sat largely idle since its opening in 2021 amid a protracted dispute with the ILA over control of crane operator jobs.","__typename":"Document"},{"Id":"5733185_JournalOfCommerce","Attachments":[{"FileName":"5733196_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eSpot container rates from Asia to the US East Coast have plummeted more than 40% over the past three weeks, with sources pointing to cargo diversions ahead of a possible longshore strike along the East and Gulf coasts as peak season momentum begins to fade. \u003c/p\u003e\u003cp\u003eRates were pegged at $5,000 per FEU as of Monday, down from $8,500 per FEU on Sept. 4, according to Platts, a sister company of the \u003ci\u003eJournal of Commerce\u003c/i\u003e within S\u0026amp;P Global. Sources expect further rate declines leading up to China’s Golden Week that begins Oct. 1. \u003c/p\u003e\u003cp\u003eForwarders who did not want to be identified said many East Coast shippers brought in year-end holiday merchandise during July ahead of the threat of a strike by the International Longshoremen’s Association (ILA), while August proved to be particularly busy for West Coast ports due to cargo diversions. According to PIERS, a sister company of the \u003ci\u003eJournal of Commerce\u003c/i\u003e within S\u0026amp;P Global, US imports from Asia landing at the major West Coast gateways were up about 25% to 30% year over year in August, whereas the East and Gulf coast ports were up only about 3%. \u003c/p\u003e\u003cp\u003eMany shippers front-loaded cargo to avoid peak season surcharges and potential disruption associated with labor talks, leading to a nearly 9% monthly increase in ex-Asia cargo volumes into the East and Gulf coasts in July, according to PIERS data. In August, those volumes were down about 2.6% on the month, likely signaling the end of the surge. \u003c/p\u003e\u003cp\u003e“Places like the Ohio River Valley [had] many companies keen on continuing to use the East Coast because the transits were similar and you could save money,” said a US-based freight forwarder. “But now we’ve seen [a lot of business shift away from the East Coast] and the situation has reached a fever pitch.” \u003c/p\u003e\u003cdiv class=\"wrapper-narrow\"\u003e\u003cdynamic-object type=\"jocchartid\" resource-id=\"2343d28a-7ef7-44bb-8fb7-f9e77c70af0a\"\u003e\u003c/dynamic-object\u003e\u003c/div\u003e\u003cp\u003eTotal containerized imports landing on the East Coast in August fell to 1.07 million TEUs, down about 4% from July but still up 9.1% from August 2023 and the second-highest total since October 2022, according to PIERS. \u003c/p\u003e\u003cp\u003e\u003ca href=\"https://www.joc.com/article/some-us-ports-extending-gate-hours-ahead-of-strike-deadline-5730261\"\u003eSeveral ports have announced plans to prepare for a strike\u003c/a\u003e, such as extending operating hours, while some carriers have announced the planned implementation of “disruption” surcharges. \u003c/p\u003e\u003ch3\u003eControlling capacity \u003c/h3\u003e\u003cp\u003eCarriers, meanwhile, are planning to significantly accelerate their blanking of capacity from Asia to the US next month even as they deploy more total tonnage. \u003c/p\u003e\u003cdiv class=\"wrapper-narrow\"\u003e\u003cdynamic-object type=\"jocchartid\" resource-id=\"d92040bd-fdbf-48bd-b3f3-b17e1556e452\"\u003e\u003c/dynamic-object\u003e\u003c/div\u003e\u003cp\u003eSome 13% of the total capacity deployed to the US East and Gulf coasts is scheduled to be blanked in October, according to maritime intelligence provider eeSea, with the trade lanes due to see the most blanked capacity in a single month since February. According to eeSea, the Asia to US East and Gulf coast trade is expected to blank 69,104 TEUs in September, with that rising to 124,838 TEUs in October. \u003c/p\u003e\u003cp\u003eExpected capacity to both coasts is expected to rise to 829,987 TEUs from 791,503 TEUs in September, said eeSea. \u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Laura Robb at \u003c/i\u003e\u003ca href=\"mailto:laura.robb@spglobal.com\"\u003e\u003ci\u003elaura.robb@spglobal.com\u003c/i\u003e\u003c/a\u003e\u003ci\u003e.\u003c/i\u003e \u003c/p\u003e\u003c/div\u003e","Metadata":{"BylineOverwrite":"Laura Robb, Associate Editor","AuthorCompanyOrEventLink":null,"PaywallLocked":true,"FeatureImageCopyright":"Demand from Asia to the East and Gulf coasts is showing signs of slackening, reflected by softening import volumes and a rapid spot rate decline. Photo credit: John McAdorey / Shutterstock.com.","__typename":"Metadata"},"ModDate":"1727124735257","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":"10","Name":"Port News","Redirects":[{"Path":"/maritime/port-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"34","Name":"Container lines","Redirects":[{"Path":"/maritime/container-shipping-news/container-lines","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"38","Name":"Trans-Pacific","Redirects":[{"Path":"/maritime/container-shipping-news/trans-pacific","__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":[],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1727122753000","TitlePlainText":"Asia-US East Coast spot rates plummet amid strike threat cargo diversions","Published":true,"Redirects":[{"Path":"/article/asia-us-east-coast-spot-rates-plummet-amid-strike-threat-cargo-diversions-5733185","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eFront-loaded cargo has dried up ahead of potential labor disruption on the East and Gulf coasts, putting heavy pressure on container spot rates from Asia.\u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"Front-loaded cargo has dried up ahead of potential labor disruption on the East and Gulf coasts, putting heavy pressure on container spot rates from Asia.","__typename":"Document"},{"Id":"5730873_JournalOfCommerce","Attachments":[{"FileName":"5730872_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eThe DB Schenker brand that two years ago celebrated its 150th anniversary will be absorbed by DSV, which last week acquired the Essen, Germany-based company for €14.3 billion ($15.9 billion). \u003c/p\u003e\u003cp\u003eWhile there are \u003ca href=\"https://www.joc.com/article/union-government-hurdles-ahead-in-dsvs-16-billion-takeover-of-db-schenker-5727281\"\u003estill regulatory hurdles to clear\u003c/a\u003e — and reports of rival bidder CVC Capital Partners urging DB Schenker to reconsider its intention to sell to the Denmark-based forwarder — a spokesperson for DSV told the \u003ci\u003eJournal of Commerce\u003c/i\u003e that “going forward, the combined company will continue under the DSV brand.” \u003c/p\u003e\u003cp\u003eThat’s a path followed by the three major acquisitions DSV has made over the past decade — \u003ca href=\"https://www.joc.com/article/dsv-buys-uti-for-135-billion-5205537\"\u003eacquiring UTi in 2015\u003c/a\u003e for $1.35 billion, \u003ca href=\"https://www.joc.com/article/newly-combined-dsv-panalpina-targets-trans-pacific-trade-5226703\"\u003ePanalpina in 2019\u003c/a\u003e for $4.6 billion and \u003ca href=\"https://www.joc.com/article/size-equals-value-in-fragmented-market-dsvs-andersen-5248808\"\u003eAgility’s Global Integrated Logistics (GIL) in 2021\u003c/a\u003e for $4.2 billion. \u003c/p\u003e\u003cp\u003eSchenker \u0026amp; Co. was founded in 1872 by Gottfried Schenker in Vienna and has developed into a global forwarder with approximately 75,000 employees. A combined DSV-DB Schenker entity will have close to 150,000 employees around the world with a 50/50 split. \u003c/p\u003e\u003cp\u003eThe size of the workforce featured prominently during takeover negotiations, with the final two bidders both pledging to limit redundancies. DSV included social commitments to DB Schenker jobs in the acquisition agreement as well as a pledge to invest €1 billion in Germany over the next three to five years, “which will contribute to ensuring long-term growth and job creation.” \u003c/p\u003e\u003cp\u003eDSV noted in its acquisition statement last week that Germany “will be a key market for DSV with a substantial impact on the future organization.” The forwarder said “various central functions” of DB Schenker would remain in Germany, including the Schenker head office in Essen. \u003c/p\u003e\u003cp\u003eMichael Clover, head of commercial development at consultancy Transport Intelligence (Ti), said DSV’s commitment to Germany in the final bidding stages appears to have been made to get the deal over the line with the federal government, while the jobs guarantee was aimed at placating German unions. \u003c/p\u003e\u003cp\u003e“The German logistics industry is obviously enormous, but with German manufacturing down at the moment logistics growth is struggling in the country,” Clover told the \u003ci\u003eJournal of Commerce\u003c/i\u003e. \u003c/p\u003e\u003cp\u003e“Ti forecasts show that German freight forwarding will grow at a compound annual growth rate [CAGR] of 3.2% from 2023 to 2028, contract logistics at a CAGR of 1% and road freight at a 1.5%,” he added. “So, you could argue that the commitment to Germany for the next two years was all about securing the deal rather than about the growth opportunities in Germany.” \u003c/p\u003e\u003cp\u003eGermany’s United Services Union, known as ver.di, had a wait-and-see attitude when contacted by the \u003ci\u003eJournal of Commerce\u003c/i\u003e after the deal was signed last week. “For us, it is essential that as many jobs as possible are retained at the end of the sales process,” a union spokesperson said. \u003c/p\u003e\u003ch3\u003eWorld’s largest forwarder \u003c/h3\u003e\u003cp\u003eIn global revenue terms, a combined DSV-DB Schenker will be the world’s largest forwarder with revenue of $39.3 billion based on 2023 results, according to DSV. Figures by market research firm Armstrong \u0026amp; Associates put DHL Global Forwarding in second place globally at $33.8 billion and Kuehne + Nagel third with $31.6 billion. \u003c/p\u003e\u003cp\u003eIn terms of global ocean volume, Kuehne + Nagel remains at the top with 4.34 million TEUs against DSV-DB Schenker’s 4.30 million TEUs, with DHL Global Forwarding third at 3 million TEUs. \u003c/p\u003e\u003cp\u003eDSV-DB Schenker is clearly ahead in air freight volume, handling a combined 2.45 million tons in 2023 against Kuehne + Nagel’s 1.9 million tons and DHL Global Forwarding’s 1.67 million tons. \u003c/p\u003e\u003cp\u003eWhile the three Europe-based companies dominate the global forwarding market, it is a different picture on the trans-Pacific. Through the first eight months of this year, Kuehne + Nagel held the largest ocean market share of the three European forwarders, at 3.01% and 180,049 TEUs, but that was only good enough for fourth place, according to data from PIERS, a sister company of the \u003ci\u003eJournal of Commerce\u003c/i\u003e within S\u0026amp;P Global. California-based Kerry Apex led with a 5.21% share of the trans-Pacific market and volume of 312,195 TEUs. \u003c/p\u003e\u003cp\u003eAfter the first eight months of 2024, DSV was at 21st place on the trans-Pacific with 53,193 TEUs and 0.89% of the market. The latest available data for DB Schenker is for January to August 2023, when it handled just 6,167 TEUs. \u003c/p\u003e\u003cp\u003e“The combined entity will be a large player on the trans-Pacific, and this will be a benefit of the deal to help get DSV more exposure to this key trade lane, but not the driving rationale,” Clover noted. \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 combined DSV-DB Schenker entity will be the world’s largest forwarder. Photo credit: DSV.","__typename":"Metadata"},"ModDate":"1726771994613","Taxonomy":{"MainCategory":[{"Id":"4","Name":"Supply chain","Redirects":[{"Path":"/supply-chain","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"AdditionalCategories":[{"Id":"13","Name":"Air Cargo Forwarder News","Redirects":[{"Path":"/air-cargo/air-cargo-forwarder-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"36","Name":"Forwarding","Redirects":[{"Path":"/maritime/container-shipping-news/forwarding","__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":"1726768454000","TitlePlainText":"DSV takeover signals end to 150 years of DB Schenker brand","Published":true,"Redirects":[{"Path":"/article/dsv-takeover-signals-end-to-150-years-of-db-schenker-brand-5730873","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eWhile there are still regulatory hurdles to clear, a spokesperson for DSV told the \u003ci\u003eJournal of Commerce\u003c/i\u003e the combined company “will continue under the DSV brand” going forward.\u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"While there are still regulatory hurdles to clear, a spokesperson for DSV told the Journal of Commerce the combined company “will continue under the DSV brand” going forward.","__typename":"Document"},{"Id":"5727340_JournalOfCommerce","Attachments":[{"FileName":"5727327_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eOcean carriers in the eastbound trans-Pacific are increasingly confident that a rate war can be avoided through the Lunar New Year period when many factories in Asia will close for about two weeks beginning in late January. They are concerned, however, that spot rates may not rebound as they normally do in the spring because carriers are scheduled to add at least \u003ca href=\"https://www.joc.com/article/container-shipping-still-has-an-overcapacity-problem-but-its-far-from-insurmountable-5234357\"\u003e1.6 million TEUs of new capacity to the global fleet in 2024–25.\u003c/a\u003e\u003c/p\u003e\u003cp\u003eAs a result, non-vessel-operating common carriers (NVOs) say some liners have approached them with offers to renegotiate their 2024–25 fixed rate, also known as named account contracts, most of which are set to expire on April 30. \u003c/p\u003e\u003cp\u003eIt’s a play by carriers to tempt NVOs with a reopened annual contract that, while higher than the deal they signed last spring, is still below current spot rates that have fallen from an early-summer peak. \u003c/p\u003e\u003cp\u003e“We’ve had a couple of carriers approach us with that offer,” said Kurt McElroy, executive vice president of the NVO Kerry Apex. \u003c/p\u003e\u003cp\u003eCurrent NVO named account rates range from about $1,600 to about $2,000 per FEU. If the NVO agrees to pay an additional $1,000 per FEU, carriers are offering to lock in the new rate through the contract expiration date of April 30. \u003c/p\u003e\u003cp\u003eThis would give NVOs a hedge if imports increase and they exceed their fixed rate allocations. \u003c/p\u003e\u003cp\u003eWhen that happened in June, NVOs were paying freight-all-kinds (FAK) rates in excess of $6,000 per FEU. Terms and conditions of the contract, such as increasing the minimum quantity commitments (MQCs), are usually negotiable, McElroy said. \u003c/p\u003e\u003cp\u003eJon Monroe, who serves as an adviser to NVOs, said forwarders could use the contract re-negotiation as an opportunity to increase their MQCs and lock in the fixed rates for the next six months. In other words, if the named account rate is $2,000 per FEU to the West Coast and the NVO agrees to pay $3,000 and possibly increase the MQC, the NVO will have locked in a favorable fixed rate for the life of the contract, Monroe said. \u003c/p\u003e\u003cp\u003eHowever, an opposite scenario could also play out, according to Rachel Shames, vice president for pricing and procurement at the NVO CV International. If FAK rates tumble, as they did this January, the NVO would save money by just paying the FAK rate. \u003c/p\u003e\u003cp\u003e“There’s a good chance [FAK] rates will keep falling,” Shames said. “You have to look at what your risks are. Nobody knows what the last six months of these contracts will look like.” \u003c/p\u003e\u003ch3\u003eFrontloading for spring ‘25 \u003c/h3\u003e\u003cp\u003eMeanwhile, the frontloading of spring ‘25 merchandise by retailers could lift US import volumes from Asia during the normally slack months of November and December and prevent a collapse of spot rates later this year in the eastbound trans-Pacific, forwarders say. \u003c/p\u003e\u003cp\u003eImports of merchandise linked to Valentine’s Day and spring activities that would normally begin shipping in December should start moving two months earlier in October, said James Caradonna, executive vice president of the forwarder M\u0026amp;R Spedag Group. That’s a similar cadence to year-end holiday merchandise that began arriving at US ports in June this year rather than in August. \u003c/p\u003e\u003cp\u003e“The entire 12-month cycle is shifting several months earlier,” Caradonna told the \u003ci\u003eJournal of Commerce.\u003c/i\u003e \u003c/p\u003e\u003cp\u003e“There’s almost no ‘normal’ now,” said Shames, noting that carriers this year began levying \u003ca href=\"https://www.joc.com/article/loading-worries-drive-early-peak-season-frenzy-on-eastbound-trans-pacific-5192196\"\u003epeak season surcharges (PSSs) in June\u003c/a\u003e rather than in August, traditionally the beginning of the peak shipping season. \u003c/p\u003e\u003cp\u003eCarriers are likewise optimistic about import volumes from Asia in the fourth quarter. \u003c/p\u003e\u003cp\u003eThe eastbound trans-Pacific “still looks pretty healthy from our perspective, between now and the end of the year,” George Goldman, president and CEO at CMA CGM North America, told the \u003ci\u003eJournal of Commerce.\u003c/i\u003e “The reality is there was more cargo in the system than we all anticipated.” \u003c/p\u003e\u003ch3\u003eNormal cadence disrupted \u003c/h3\u003e\u003cp\u003eThe normal seasonal cadence on the Asia-North American trades has been disrupted by longshore labor, geopolitical conflicts and weather-related events dating back to last fall. \u003c/p\u003e\u003cp\u003eThe threat of a \u003ca href=\"https://www.joc.com/article/port-employers-urge-ila-to-return-to-contract-talks-5723976\"\u003estrike by the International Longshoremen’s Association\u003c/a\u003e against maritime employers along the East and Gulf coasts was a dominant factor in forcing retailers to frontload fall and year-end holiday merchandise this past spring. The labor threat \u003ca href=\"https://www.joc.com/article/canadian-rail-workers-back-on-job-after-failed-challenge-to-binding-arbitration-5712234\"\u003eextended to the Canadian rail industry as well.\u003c/a\u003e\u003c/p\u003e\u003cp\u003e\u003ca href=\"https://www.joc.com/article/maersk-to-resume-panama-canal-transits-on-oc1-service-as-vessel-restrictions-ease-5225404\"\u003eDrought restrictions along the Panama Canal\u003c/a\u003e have been a factor, as are the ongoing attacks by Houthi militants \u003ca href=\"https://www.joc.com/article/container-shipping-market-continues-to-be-reset-by-ongoing-red-sea-crisis-5713700\"\u003eon vessels transiting the Red Sea\u003c/a\u003e that forced most container carriers to re-route vessels around the southern tip of Africa, adding time and cost to all-water services that would have gone through the Suez Canal. \u003c/p\u003e\u003cp\u003eFreight rates in the eastbound trans-Pacific have been fluctuating all year. The spot rate from Asia to the West Coast spiked to $8,133 per FEU in early July after a series of general rate increases (GRIs) but is now down to $4,500 per FEU, according to Platts, a \u003ci\u003eJournal of Commerce\u003c/i\u003e sister company within S\u0026amp;P Global. The East Coast spot rate surged to $10,133 per FEU on July 5 but has fallen to $5,600 per FEU, according to Platts. \u003c/p\u003e\u003cp\u003eAmid the rising rates, carriers this \u003ca href=\"https://www.joc.com/article/asia-uswc-spot-rates-edge-lower-as-new-capacity-takes-edge-off-overheated-market-5192314\"\u003eyear launched or re-instated 10 services from Asia to the West Coast\u003c/a\u003e. Liners are also \u003ca href=\"https://www.joc.com/article/carriers-to-deploy-extra-loaders-to-los-angeles-long-beach-amid-import-surge-5714861\"\u003erunning 28 single-voyage extra-loader vessels\u003c/a\u003e to the ports of Los Angeles and Long Beach — 14 to each port — in September and October. As a result, NVOs say they are encountering no space limitations to the West Coast. \u003c/p\u003e\u003cdiv class=\"wrapper-narrow\"\u003e\u003cdynamic-object type=\"jocchartid\" resource-id=\"e7a65aab-9aac-4f07-9b74-1793746c01ef\"\u003e\u003c/dynamic-object\u003e\u003c/div\u003e\u003cp\u003e“We’re getting all of the space we need,” Caradonna said. \u003c/p\u003e\u003cp\u003eVessel capacity has been tight to the East Coast, but since most of the holiday season merchandise was shipped from Asian load ports before Sept. 1, NVOs said space is now opening on the all-water services on the trade lane. \u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Bill Mongelluzzo at \u003c/i\u003e\u003ca href=\"mailto:bill.mongelluzzo@spglobal.com \"\u003e\u003ci\u003ebill.mongelluzzo@spglobal.com\u003c/i\u003e\u003c/a\u003e.\u003c/p\u003e\u003c/div\u003e","Metadata":{"BylineOverwrite":null,"AuthorCompanyOrEventLink":null,"PaywallLocked":true,"FeatureImageCopyright":"The spot rate from Asia to the West Coast spiked to $8,133 per FEU in early July, but is now down to $4,500 per FEU, according to Platts. Photo credit: Chizhevskaya Ekaterina / Shutterstock.com.","__typename":"Metadata"},"ModDate":"1726255395220","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":"38","Name":"Trans-Pacific","Redirects":[{"Path":"/maritime/container-shipping-news/trans-pacific","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"Bill Mongelluzzo, Senior Editor","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1726251854000","TitlePlainText":"Some carriers seek to reopen 2024–25 fixed-rate contracts in trans-Pac: NVOs","Published":true,"Redirects":[{"Path":"/article/some-carriers-seek-to-reopen-202425-fixed-rate-contracts-in-trans-pac-nvos-5727340","__typename":"Redirect"},{"Path":"/article/some-carriers-seek-to-reopen-2024-25-fixed-rate-contracts-in-trans-pac-nvos-5727340","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eIt’s a play by carriers to tempt NVOs with a reopened annual contract that, while higher than the deal they signed last spring, is still below current spot rates that have fallen from an early-summer peak.\u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"It’s a play by carriers to tempt NVOs with a reopened annual contract that, while higher than the deal they signed last spring, is still below current spot rates that have fallen from an early-summer peak.","__typename":"Document"},{"Id":"5725043_JournalOfCommerce","Attachments":[{"FileName":"5725036_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eUS retailers have significantly upgraded their forecast for US imports in September as shippers look to frontload cargo ahead of a threatened strike on Oct. 1 by dockworkers along the East and Gulf coasts. \u003c/p\u003e\u003cp\u003eAnd while August’s numbers from the Global Port Tracker (GPT) are not yet final, retailers project that US imports last month came in at 2.37 million TEUs, up almost 21% year over year and the highest since the record of 2.4 million TEUs in May 2022. \u003c/p\u003e\u003cp\u003eGPT, published by the National Retail Federation (NRF) and Hackett Associates, now projects US imports this month will hit 2.31 million TEUs, up 14% from the same month one year ago. Last month’s GPT expected the year-over-year increase for September to be 6.5%. \u003c/p\u003e\u003cp\u003e“Many retailers have brought cargo in early and shifted to alternate ports as a precaution, but it is vital that labor and management at East Coast and Gulf Coast ports actually sit down at the negotiating table and bargain in good faith for a new contract so we can avoid a disruption of any kind when their contract expires,” Jonathan Gold, the NRF’s vice president for Supply Chain and Customs Policy, said in a statement Monday. \u003c/p\u003e\u003cp\u003eOcean carriers and marine terminal \u003ca href=\"https://www.joc.com/article/port-employers-urge-ila-to-return-to-contract-talks-5723976\"\u003eoperators have called on the International Longshoremen’s Association (ILA) to reopen contract talks\u003c/a\u003e, but acknowledged pessimism about avoiding a shutdown on Oct. 1 that would cripple ports along the East and Gulf coasts. The current ILA contract expires Sept. 30. \u003c/p\u003e\u003cp\u003e“A strike would be another blow to the supply chain as it continues to face challenges, and to the nation’s economy at a time when inflation is finally coming down and the Fed is poised to lower interest rates,” Gold said. \u003c/p\u003e\u003cdiv class=\"wrapper-narrow\"\u003e\u003cdynamic-object type=\"jocchartid\" resource-id=\"57ed83f5-70e1-4b4d-92e1-7697aa830148\"\u003e\u003c/dynamic-object\u003e\u003c/div\u003e\u003cp\u003eThe big upgrade for September’s imports came as fresh data from PIERS, a sister product of the \u003ci\u003eJournal of Commerce\u003c/i\u003e within S\u0026amp;P Global, showed that US imports from Asia in August came in at 1.71 million TEUs, down slightly from July but still up 18.5% year over year. West Coast import volumes from Asia were up more than 22.2% through the first eight months of 2024, while volumes into the East Coast grew 9.8% and Gulf imports rose 8.3%. \u003c/p\u003e\u003cp\u003eIf the GPT forecasts prove correct, it will mean that 2024 will have had seven consecutive months of import levels at or above 2 million TEUs — the longest such stretch since a 19-month period during the height of the pandemic. The projections would bring total US imports for 2024 to just under 25 million TEUs, a 12.3% increase from 2023. \u003c/p\u003e\u003cp\u003eWhile demand has been resilient, \u003ca href=\"https://www.joc.com/article/carriers-to-deploy-extra-loaders-to-los-angeles-long-beach-amid-import-surge-5714861\"\u003enew capacity deployments\u003c/a\u003e have pulled down spot rates to the West Coast but have since leveled. Comparatively, \u003ca href=\"https://www.joc.com/article/east-coast-spot-rates-plunge-as-peak-season-imports-shift-to-west-coast-5723993\"\u003eEast Coast spot rates plunged faster than usual on the trade lane.\u003c/a\u003e\u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Laura Robb at \u003c/i\u003e\u003ca href=\"mailto:laura.robb@spglobal.com\"\u003e\u003ci\u003elaura.robb@spglobal.com\u003c/i\u003e\u003c/a\u003e\u003ci\u003e.\u003c/i\u003e \u003c/p\u003e\u003c/div\u003e","Metadata":{"BylineOverwrite":"Laura Robb, Associate Editor","AuthorCompanyOrEventLink":null,"PaywallLocked":true,"FeatureImageCopyright":"Retailers project that US imports last month came in at 2.37 million TEUs, up almost 21% year on year. Photo credit: ambient_pix / Shutterstock.com.","__typename":"Metadata"},"ModDate":"1726004834983","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":"10","Name":"Port News","Redirects":[{"Path":"/maritime/port-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"34","Name":"Container lines","Redirects":[{"Path":"/maritime/container-shipping-news/container-lines","__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":[],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1726002735000","TitlePlainText":"US retailers give big upgrade to September import forecast amid strike threat","Published":true,"Redirects":[{"Path":"/article/us-retailers-give-big-upgrade-to-september-import-forecast-amid-strike-threat-5725043","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eThe Global Port Tracker now projects US imports this month will hit 2.31 million TEUs, up 14% from the same month a year ago; last month’s report expected the year-over-year increase for September to be 6.5%. \u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"The Global Port Tracker now projects US imports this month will hit 2.31 million TEUs, up 14% from the same month a year ago; last month’s report expected the year-over-year increase for September to be 6.5%.","__typename":"Document"},{"Id":"5723993_JournalOfCommerce","Attachments":[{"FileName":"5723992_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eA front-loading of shipments ahead of a threatened port strike threat, coupled with intensified rate pressures, is sending Asia container spot rates to the East Coast plunging faster than usual on the trade lane. \u003c/p\u003e\u003cp\u003eContainer spot rates from Asia to the US East and Gulf coasts fell $2,300 per FEU this week, much faster than in past years, as peak-season shipments on all-water services drop off and retailers, fearing a dockworker strike on the East and Gulf coasts on Oct. 1, shift discretionary cargo to the West Coast. \u003c/p\u003e\u003cp\u003eFurthermore, carriers this year are utilizing special or “bullet” rates to compete for cargo in what has become a slowing market from Asia to the East Coast. \u003c/p\u003e\u003cp\u003e“It’s the bullet rates that are driving behavior,” a carrier executive speaking anonymously told the \u003ci\u003eJournal of Commerce\u003c/i\u003e Monday. \u003c/p\u003e\u003cdiv class=\"wrapper-narrow\"\u003e\u003cdynamic-object type=\"jocchartid\" resource-id=\"e7a65aab-9aac-4f07-9b74-1793746c01ef\"\u003e\u003c/dynamic-object\u003e\u003c/div\u003e\u003cp\u003eThe East Coast spot rate paid by importers and the freight all kinds (FAK) rate paid by forwarders dropped to $6,200 per FEU from $8,500 last week, according to Platts, a \u003ci\u003eJournal of Commerce\u003c/i\u003e sister company within S\u0026amp;P Global. \u003c/p\u003e\u003cp\u003e“Now the carriers are willing to wheel and deal,” Jon Monroe, who serves as an advisor to non-vessel-operating common carriers (NVOs), told the \u003ci\u003eJournal of Commerce\u003c/i\u003e Monday. \u003c/p\u003e\u003cp\u003eMonroe said some carriers, concerned about excess capacity emerging later this year, are approaching certain customers about locking these new rates into service contracts that would run through April 30, 2025. Many of the 2025–26 service contracts in the eastbound trans-Pacific will take effect on May 1 next year. \u003c/p\u003e\u003cp\u003eNormally about 60% of the imports in the eastbound trans-Pacific \u003ca href=\"https://www.joc.com/article/trans-pacific-rate-push-tests-health-of-early-peak-season-5704825\"\u003emove under lower-cost contract rates\u003c/a\u003e, although when space is tight, that percentage can drop as low as 45%. \u003c/p\u003e\u003cp\u003eWest Coast spot/FAK rates dropped $600 per FEU to $4,800, according to Platts. However, West Coast rates could stabilize or even move higher in the coming weeks as retailers ship holiday merchandise on the shorter trans-Pacific routings to the West Coast and retailers react to growing International Longshoremen’s Association (ILA) strike threats. \u003c/p\u003e\u003cp\u003e“West Coast rates definitely could go up depending upon what goes on with the ILA,” Monroe said. \u003c/p\u003e\u003cp\u003eIn the past two years, East Coast spot rates by mid-September dropped by about $1,000 per FEU from late August, which marks the end of the traditional peak season to the East Coast. In 2021, when the US economy was recovering from COVID, spot rates increased by about $1,000 from late August. \u003c/p\u003e\u003ch3\u003eBullet rates, new capacity, drive rates lower \u003c/h3\u003e\u003cp\u003eHowever, this year carriers have been offering a \u003ca href=\"https://www.joc.com/article/capacity-boost-on-trans-pacific-pushes-carriers-to-compete-for-cargo-5711329\"\u003eplethora of special rates\u003c/a\u003e — bullet rates, commodity rates, voyage-specific rates and blended rates to secure business in what has become a highly competitive market in the trans-Pacific. \u003c/p\u003e\u003cp\u003e“It’s so chaotic. Everyone keeps chasing the lower rates,” a second carrier executive told the \u003ci\u003eJournal of Commerce\u003c/i\u003e Friday. \u003c/p\u003e\u003cp\u003eCarriers last month signaled their intention to compete fiercely for business this peak season through their bullet rates to the West Coast, and now these special rates are flooding the East Coast trade lanes. \u003c/p\u003e\u003cp\u003e“It’s nothing unexpected. We were already seeing signs of carriers not being able to hold the rates. Bullet discounts were already there,” said Christian Sur, executive vice president ocean freight/contract logistics at the NVO Unique Logistics International. \u003c/p\u003e\u003cp\u003eCarriers this year launched or reinstated 10 services from Asia to the West Coast and have deployed dozens of “extra-loader” vessels in the trade. Except for smaller importers and NVOs, most shippers in the trans-Pacific have access to special rates that are offered by the large alliance carriers and discounted rates offered by the smaller non-alliance carriers. \u003c/p\u003e\u003cp\u003eAlthough carriers did not enter any new services to the East Coast, retailers front-loaded holiday merchandise in June and July as the threat of an ILA strike intensified. \u003c/p\u003e\u003cp\u003eAnother NVO, speaking anonymously, said several carriers as of last week had posted bullet rates from Asia to the East Coast of $5,500 to $5,800 per FEU. West Coast bullet rates were in the range of $4,400 to $4,900 per FEU. \u003c/p\u003e\u003cp\u003eRetailers forecast that US imports in September will be especially strong, increasing 14% over September 2023. Imports in October are forecast to be up 1.3% year over year, according to the Global Port Tracker released Monday by the National Retail Federation and Hackett Associates. October was the busiest month of 2023. \u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Bill Mongelluzzo at \u003c/i\u003e\u003ca href=\"mailto:bill.mongelluzzo@spglobal.com\"\u003e\u003ci\u003ebill.mongelluzzo@spglobal.com\u003c/i\u003e\u003c/a\u003e.\u003c/p\u003e\u003c/div\u003e","Metadata":{"BylineOverwrite":null,"AuthorCompanyOrEventLink":null,"PaywallLocked":true,"FeatureImageCopyright":"A plethora of special “bullet” rates offered to importers and forwarders are further undermining spot rates in the trans-Pacific. Photo caption: Robert V Schwemmer / Shutterstock.com.","__typename":"Metadata"},"ModDate":"1725918854883","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":"35","Name":"Trans-Atlantic","Redirects":[{"Path":"/maritime/container-shipping-news/trans-atlantic","__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":"Bill Mongelluzzo, Senior Editor","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1725915614000","TitlePlainText":"East Coast spot rates plunge as peak-season imports shift to West Coast","Published":true,"Redirects":[{"Path":"/article/east-coast-spot-rates-plunge-as-peak-season-imports-shift-to-west-coast-5723993","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eSpot rates from Asia to the US East Coast are dropping faster than in past years as carriers route discretionary shipments to the West Coast to avoid getting caught up in a threatened dockworker strike on the East and Gulf coasts.\u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"Spot rates from Asia to the US East Coast are dropping faster than in past years as carriers route discretionary shipments to the West Coast to avoid getting caught up in a threatened dockworker strike on the East and Gulf coasts.","__typename":"Document"},{"Id":"5723585_JournalOfCommerce","Attachments":[{"FileName":"5723582_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eMediterranean Shipping Co. is teaming up with Ocean Network Express (ONE), HMM and Yang Ming Marine Transportation on the Asia-Europe trades with a slot exchange covering nine services from February 2025 when current alliance arrangements end, the carriers said Monday. \u003c/p\u003e\u003cp\u003eThe move comes as ONE and its partners confirmed their Premier Alliance would replace THE Alliance when Hapag-Lloyd leaves to join Maersk in the Gemini Cooperation in February. MSC also confirmed Monday that it would remain largely independent when Maersk departs their 2M tie-up. The Premier Alliance will initially operate for five years.\u003c/p\u003e\u003cp\u003eThe post-2M arrangement indicates MSC has lost no time using the huge scale it has built up in the past few years to land slot deals with the new Premier Alliance. In the past few years, MSC has ordered more than 2 million TEUs of newbuilding capacity and acquired almost 400 secondhand ships, overtaking Maersk as the world’s largest container shipping company.\u003c/p\u003e\u003cp\u003eONE said the Premier Alliance slot exchanges with MSC will enable the carriers to provide more direct coverage and more frequent sailings in the Asia-North Europe and Mediterranean container trades. The agreement takes effect in February. \u003c/p\u003e\u003cp\u003eBoth MSC and the Premier Alliance confirmed they would focus on direct port-to-port coverage in their statements Monday, in contrast to \u003ca href=\"https://www.joc.com/article/geminis-hub-and-spoke-model-aims-to-eliminate-blank-sailings-hapag-lloyd-5241030\"\u003ethe hub-and-spoke service network proposed by Gemini Cooperation\u003c/a\u003e. \u003c/p\u003e\u003cp\u003eThe Premier Alliance carriers said their co-operation will cover mainline services across the major East-West trade lanes: Asia-North America West Coast; Asia-North America East Coast; Asia-Mediterranean; Asia-North Europe; and Asia-Middle East. \u003c/p\u003e\u003ch3\u003e‘Full control of network’\u003c/h3\u003e\u003cp\u003eSeparately, MSC said it will assume “full operational control of its network” that will have 34 loops across five trades covering Asia-North America, Asia-Europe and the Mediterranean and the trans-Atlantic.\u003c/p\u003e\u003cp\u003eThe carrier said it will offer customers separate routings via the Suez Canal and the Cape of Good Hope. These will provide over 1,900 direct port pairs on the Suez Canal option and over 1,800 on the southern Africa routing.\u003c/p\u003e\u003cp\u003eLars Jensen, CEO of Vespucci Maritime, \u003ca href=\"https://www.linkedin.com/posts/larsjensenvespuccimaritime_facilitating-east-west-trade-exports-from-activity-7238839531997720576-gAcI?utm_source=share\u0026amp;utm_medium=member_desktop\"\u003enoted on LinkedIn\u003c/a\u003e that MSC’s slot arrangement means that while it has some shared services on the Asia-Europe trade, there are some that are not.\u003c/p\u003e\u003cp\u003e“Premier for example has two services, FP1 and FN2, connecting Japan to North Europe, whereas MSC does not. Overall, Premier and MSC share four services on Asia-North Europe. MSC’s Albatross, Britannia and Griffin services are not shared with Premier,” Jensen wrote.\u003c/p\u003e\u003cp\u003eOn Asia-Mediterranean, MSC has six services, whereas Premier has slots on four. MSC’s stand-alone services are Jade and Phoenix. Premier Alliance has no standalone services from the Far East. On the MD3/Tiger (service), only MSC has port calls in the Middle East on the backhaul. On the MD4/Dragon (service), only MSC has port calls in West Africa, India and Sri Lanka on the backhaul, Jensen explained.\u003c/p\u003e\u003cp\u003eThe Premier carriers said a comprehensive update for all the services covered in the major trade lanes will be announced separately. The alliance offers a wider array of services and enhanced coverage of more than 80 direct port calls, according to ONE. \u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Keith Wallis at \u003c/i\u003e\u003ca href=\"mailto:keith.wallis@hotmail.com.\"\u003e\u003ci\u003ekeith.wallis@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":"Mediterranean Shipping Co. and the Premier Alliance confirmed they would focus on direct port-to-port coverage in their statements Monday, in contrast to the hub-and-spoke service network proposed by Gemini Cooperation. Photo credit: picture alliance / Getty Images.","__typename":"Metadata"},"ModDate":"1725908834963","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":"Keith Wallis, Special Correspondent","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1725906434000","TitlePlainText":"MSC strikes Asia-Europe slot share with former THEA members","Published":true,"Redirects":[{"Path":"/article/msc-strikes-asia-europe-slot-share-with-former-thea-members-5723585","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eMediterranean Shipping Co. is wasting no time utilizing its huge scale, striking major slot sharing agreements on the Asia-Europe with new Premiere alliance members.\u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"Mediterranean Shipping Co. is wasting no time utilizing its huge scale, striking major slot sharing agreements on the Asia-Europe with new Premiere alliance members.","__typename":"Document"},{"Id":"5721770_JournalOfCommerce","Attachments":[{"FileName":"5721763_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eSpot container rates from Asia to the west coast of Mexico have climbed sharply over the past week amid fresh blank sailings and a cargo rush ahead of China’s Golden Week holiday in early October. The gains come after two months of declining rates brought on by new capacity injected into the trade lane. \u003c/p\u003e\u003cp\u003eA mostly successful $2,000 general rate increase (GRI) implemented by carriers brought rates up to $5,600 per FEU as of Friday — up nearly $1,500 from Aug. 31, according EAX, a public index of maritime rates from Asia to Mexico provided by Eternity International Freight Forwarder México. \u003c/p\u003e\u003cp\u003eEternity President Nicolas Portenza attributed the rate rebound to the cascading impacts of blank sailings and a volume push from shippers ahead of Golden Week. Six blanks were scheduled on the trade lane through the first half of September, according to data from Eternity International. \u003c/p\u003e\u003cp\u003ePortenza, though, doesn’t expect the momentum to last. \u003c/p\u003e\u003cp\u003e“I think after Golden Week the rate will fall to the $4,000 [per FEU] level at least,” he said. “But now, the demand is strong before Golden Week and carriers are tightening the capacity on purpose.” \u003c/p\u003e\u003ch3\u003eSummer oversupply hindered spot rates \u003c/h3\u003e\u003cp\u003eThis week’s rate jump comes after two months of bearishness brought on by the recent deployment of several new services from Asia to the west coast of Mexico. That capacity put downward pressure on container spot rates during August, which fell more than 20% to reach $4,104 per FEU by the end of August, according to EAX. That nearly $1,100 reduction in rates for cargo from China base ports to Manzanillo and Lazaro Cardenas came after an earlier drop of more than 10% from June to July. \u003c/p\u003e\u003cp\u003eNew services on the lane include the AC1 from Maersk, the WSA5 from Cosco Shipping, the M2X from CMA CGM, the MEXICAS and DAHLIA from Mediterranean Shipping Co., and the FLX from HMM — a significant increase to the historical standard capacity of 90,000 TEUs weekly, according to Portenza. \u003c/p\u003e\u003cp\u003eAdditionally, the lane will gain two more services in February from the Maersk/Hapag-Lloyd Gemini Cooperation, according to maritime intelligence firm eeSea. The market behavior through 2024 will be largely dependent on how the new capacity is managed. Overall, however, forwarders say inbound demand remains strong. \u003c/p\u003e\u003cp\u003e“The demand was strong during Q2 and is still there in Q3,” said Portenza. “The downgrade of the rate during July was related to new services deployed by carriers generating oversupply, but the demand is not losing strength.” \u003c/p\u003e\u003ch3\u003eWorking through port congestion \u003c/h3\u003e\u003cp\u003eMeanwhile, market sources say there was still significant congestion at Mexican ports as of Sept. 3, with cargo ultimately destined for South America waiting to be transloaded. \u003c/p\u003e\u003cp\u003e“We will be having space issues until after [the second or third week of October,]” said a logistics professional close to the trade. “Then the market should ease between late October and mid-December, when we could have a new rush — but it all depends on carriers and capacity.” \u003c/p\u003e\u003cp\u003eSources predict imports into the US will follow a similar volumes pattern — mirroring a tepid wind down of peak season before a potential rush of cargo in advance to closures brought on by the Golden Week holiday. \u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Laura Robb at \u003c/i\u003e\u003ca href=\"mailto:laura.robb@spglobal.com\"\u003e\u003ci\u003elaura.robb@spglobal.com\u003c/i\u003e\u003c/a\u003e\u003ci\u003e.\u003c/i\u003e \u003c/p\u003e\u003c/div\u003e","Metadata":{"BylineOverwrite":"Laura Robb, Associate Editor","AuthorCompanyOrEventLink":null,"PaywallLocked":true,"FeatureImageCopyright":"Spot container rates from China to ports on the west coast of Mexico, including Manzanillo (pictured) have jumped sharply over the past week. Photo credit: JRomero04 / Shutterstock.com.","__typename":"Metadata"},"ModDate":"1725645195913","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":"10","Name":"Port News","Redirects":[{"Path":"/maritime/port-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"34","Name":"Container lines","Redirects":[{"Path":"/maritime/container-shipping-news/container-lines","__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":[],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1725643274000","TitlePlainText":"Blank sailings, cargo push help reverse rate slide on Asia-Mexico trade","Published":true,"Redirects":[{"Path":"/article/blank-sailings-cargo-push-help-reverse-rate-slide-on-asia-mexico-trade-5721770","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eA big jump in spot rates was pegged to the cascading impacts of blank sailings and a volume rush from shippers ahead of China’s Golden Week holiday in October.\u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"A big jump in spot rates was pegged to the cascading impacts of blank sailings and a volume rush from shippers ahead of China’s Golden Week holiday in October.","__typename":"Document"},{"Id":"5714861_JournalOfCommerce","Attachments":[{"FileName":"5714835_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eOcean carriers in the eastbound trans-Pacific are scheduled to deploy 28 “extra-loader” vessels to the ports of Los Angeles and Long Beach over the next two months in response to heavy import volumes expected to land at the US’ busiest gateway during peak shipping season. \u003c/p\u003e\u003cp\u003eThe added capacity — 14 extra loaders at each port — comes amid an anticipated boost in discretionary cargo diverted from ports along the US East and Gulf coasts as shippers protect themselves from \u003ca href=\"https://www.joc.com/article/ila-strike-possibility-has-risen-in-recent-months-hapag-lloyd-ceo-5703053\"\u003epotential longshore labor disruption in those regions.\u003c/a\u003e\u003c/p\u003e\u003cp\u003ePorts on the US West Coast may also see an uptick in freight diverted from Vancouver considering the \u003ca href=\"https://www.joc.com/article/canadian-rail-workers-back-on-job-after-failed-challenge-to-binding-arbitration-5712234\"\u003erail labor issues north of the border are not fully settled\u003c/a\u003e. \u003c/p\u003e\u003cp\u003e“If people are worried about ILA [International Longshoremen’s Association] action, and have the ability to do so, they’ve moved things over to the West Coast,” a freight forwarder told the \u003ci\u003eJournal of Commerce\u003c/i\u003e. “By and large though, shippers moved peak [freight] early.” \u003c/p\u003e\u003cp\u003eWhile those developments are helping to drive more import volumes to the ports of Los Angeles and Long Beach, the main force behind the cargo surge is the strength of the US economy, especially consumer demand, according to Maersk CEO Vincent Clerc. \u003c/p\u003e\u003cp\u003e“I have been impressed by the resilience of demand,” Clerc said during an interview Tuesday at the naming ceremony for the dual-fuel container ship \u003ci\u003eAlette Maersk\u003c/i\u003e in Los Angeles. “I expect continued resilient demand through the end of the year.” \u003c/p\u003e\u003cp\u003eThe threat of a strike by the ILA at East and Gulf coast ports when the union’s coastwide contract expires on Sept. 30 will have only “a little bit” to do with the import volumes expected to move through Southern California in the coming months, said Gene Seroka, executive director of the Port of Los Angeles. \u003c/p\u003e\u003cp\u003e“It’s the strength of the US economy” that is by far the main driver of import growth, Seroka said at the Maersk event. \u003c/p\u003e\u003ch3\u003eConsumers shifting to discount retailers \u003c/h3\u003e\u003cp\u003ePeak season cargo volumes will follow an explosion of Asian imports in July. Imports from Asia last month increased 32.8% in Los Angeles and 44.8% in Long Beach year over year, according to PIERS, a sister company of the \u003ci\u003eJournal of Commerce\u003c/i\u003e within S\u0026amp;P Global. The National Retail Federation, in \u003ca href=\"https://www.joc.com/article/near-record-surge-possible-for-us-imports-in-august-retail-group-5703194\"\u003eits Aug. 8 Global Port Tracker\u003c/a\u003e, said it expects a “near record” August for Asian imports moving through US ports. \u003c/p\u003e\u003cdiv class=\"wrapper-narrow\"\u003e\u003cdynamic-object type=\"jocchartid\" resource-id=\"99205feb-d52a-46c4-b3fb-505aa99dee95\"\u003e\u003c/dynamic-object\u003e\u003c/div\u003e\u003cp\u003e“Consumers are not in a recessionary frame of mind,” said Paul Bingham, director of transportation consulting at S\u0026amp;P Global Market Intelligence. \u003c/p\u003e\u003cp\u003eAlthough inflationary pressures are impacting merchandise moving to higher-end retailers, consumers are still buying by “shifting down” their spending to discount retailers, Bingham said. Also, importers of solar panels and related products from China that are subject to pending US tariffs have been frontloading their orders, including imports of electronic components moving to data centers for artificial intelligence, he said. \u003c/p\u003e\u003cp\u003eIn recent weeks, a “roll pool” of containers has built up at key Asian load ports, and that is creating a sense of urgency among retailers to secure vessel space wherever they can, said a non-vessel-operating common carrier. \u003c/p\u003e\u003cdiv class=\"wrapper-narrow\"\u003e\u003cdynamic-object type=\"jocchartid\" resource-id=\"e7a65aab-9aac-4f07-9b74-1793746c01ef\"\u003e\u003c/dynamic-object\u003e\u003c/div\u003e\u003cp\u003eThe Southern California transportation community is already on record with concerns over the ability of terminal operators to handle the peak season volumes. \u003ca href=\"https://www.joc.com/article/la-lb-rail-dwells-on-the-rise-as-port-complex-enters-height-of-peak-season-5712900\"\u003eRail container dwell times at some terminals have almost doubled over the past two months\u003c/a\u003e, with the Port of Los Angeles website showing almost 28% of the dwells are nine days or longer. \u003c/p\u003e\u003cp\u003eSpot rates on the trade lane continue to come off their early-July peak, meanwhile. Platts, a sister company of the \u003ci\u003eJournal of Commerce\u003c/i\u003e within S\u0026amp;P Global, pegged the North Asia to US West Coast rate at $5,666 per FEU as of Aug. 28, 6% lower on the week and down from the peak of $8,133 per FEU on July 5. \u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Bill Mongelluzzo at \u003c/i\u003e\u003ca href=\"mailto:bill.mongelluzzo@spglobal.com\"\u003e\u003ci\u003ebill.mongelluzzo@spglobal.com\u003c/i\u003e\u003c/a\u003e\u003ci\u003e.\u003c/i\u003e \u003c/p\u003e\u003cp\u003e\u003ci\u003eAssociate Editor Laura Robb contributed to this report.\u003c/i\u003e \u003c/p\u003e\u003c/div\u003e","Metadata":{"BylineOverwrite":null,"AuthorCompanyOrEventLink":null,"PaywallLocked":true,"FeatureImageCopyright":"The resilience of consumer demand in the US is the main driver of import growth in the eastbound trans-Pacific, according to Maersk CEO Vincent Clerc. Photo credit: Angel DiBilio / Shutterstock.com.","__typename":"Metadata"},"ModDate":"1724969715787","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":"10","Name":"Port News","Redirects":[{"Path":"/maritime/port-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"34","Name":"Container lines","Redirects":[{"Path":"/maritime/container-shipping-news/container-lines","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"38","Name":"Trans-Pacific","Redirects":[{"Path":"/maritime/container-shipping-news/trans-pacific","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"42","Name":"North American ports","Redirects":[{"Path":"/maritime/port-news/north-american-ports","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"Bill Mongelluzzo, Senior Editor","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1724966234000","TitlePlainText":"Carriers to deploy ‘extra-loaders’ to Los Angeles-Long Beach amid import surge","Published":true,"Redirects":[{"Path":"/article/carriers-to-deploy-extra-loaders-to-los-angeles-long-beach-amid-import-surge-5714861","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eThe added capacity — 14 extra-loaders at each port — comes amid peak season demand and an anticipated boost in discretionary cargo diverted from ports along the US East and Gulf coasts as shippers protect themselves from potential longshore labor disruption.\u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"The added capacity — 14 extra-loaders at each port — comes amid peak season demand and an anticipated boost in discretionary cargo diverted from ports along the US East and Gulf coasts as shippers protect themselves from potential longshore labor disruption.","__typename":"Document"},{"Id":"5712900_JournalOfCommerce","Attachments":[{"FileName":"5712889_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eRail container dwell times at some terminals at the ports of Los Angeles and Long Beach are close to double what they were earlier this summer amid booming imports, and some customers are concerned the dwells could bloat even further as the largest US port complex enters its busiest time of the year. \u003c/p\u003e\u003cp\u003ePort users say rail dwells and spot chassis shortages could become an issue during the remaining two months of peak shipping season if Southern California’s already busy docks see extra business because of a \u003ca href=\"https://www.joc.com/article/ila-strike-possibility-has-risen-in-recent-months-hapag-lloyd-ceo-5703053\"\u003ethreatened longshore strike on the East and Gulf coasts\u003c/a\u003e, \u003ca href=\"https://www.joc.com/article/canadas-labour-minister-orders-end-to-rail-work-stoppage-via-binding-arbitration-5709672\"\u003erail woes in Canada\u003c/a\u003e and \u003ca href=\"https://www.joc.com/article/tacoma-marine-terminals-grappling-with-heavy-import-rail-congestion-5706377\"\u003erail congestion issues in Tacoma\u003c/a\u003e. \u003c/p\u003e\u003cp\u003eRail container dwell times at the LA-LB port complex increased to 5.66 days in July from 4.73 days in June, according to the Pacific Merchant Shipping Association (PMSA), which represents terminal operators and shipping lines. According to the Port of Los Angeles website on Monday, almost 28% of the rail containers at the port’s six container terminals were seeing average dwells of nine days or longer. \u003c/p\u003e\u003cp\u003e“That’s far too long,” Gene Seroka, the port’s executive director, told the \u003ci\u003eJournal of Commerce\u003c/i\u003e. “I want to see dwells of two to four days.” \u003c/p\u003e\u003ch3\u003eRail dwells vary throughout port complex \u003c/h3\u003e\u003cp\u003eTerminal operators say rail container dwell times vary from terminal to terminal based on the carriers they serve and volume of intermodal rail traffic those carriers generate. \u003c/p\u003e\u003cp\u003eDwells at Long Beach Container Terminal (LBCT) are averaging six to seven days, almost twice the dwell time recorded last month. But BNSF Railway is positioning more railcars to the terminal now to knock that number down, said LBCT President Anthony Otto. \u003c/p\u003e\u003cdiv class=\"wrapper-narrow\"\u003e\u003cdynamic-object type=\"jocchartid\" resource-id=\"155dedc1-99f2-4adf-a449-1c9ab2510f95\"\u003e\u003c/dynamic-object\u003e\u003c/div\u003e\u003cp\u003eThe average rail container dwell time at Long Beach’s six container terminals is four days, even though the port in July recorded the third-busiest month for total cargo volume in its 113-year history and on-dock rail volumes are up 6% over last year, said Noel Hacegaba, chief operating officer at the Port of Long Beach. \u003c/p\u003e\u003cp\u003e“Despite these record volumes, operations at our container terminals remain fluid,” he said. “We are not seeing any unusual backlogs or container pileups like we did during the pandemic-induced supply chain crisis.” \u003c/p\u003e\u003cp\u003e“We had a backup a month or so ago, but we’re having good railroad movement now,” Alan McCorkle, president of Yusen Terminals in Los Angeles, told the \u003ci\u003eJournal of Commerce\u003c/i\u003e. “We can handle it as long as the railroads can handle it.” \u003c/p\u003e\u003ch3\u003eImports in LA-LB surge \u003c/h3\u003e\u003cp\u003eStill, port customers are concerned that as import volumes in Southern California increase due to normal seasonal growth, diversions of discretionary cargo from the East and Gulf coasts and issues in Tacoma and Vancouver, more serious delays could emerge. \u003c/p\u003e\u003cp\u003e“[In] Tacoma I have seen a lot of issues, and obviously in Vancouver,” Abe Orgel, president of the freight forwarder Simple Forwarding, told the \u003ci\u003eJournal of Commerce\u003c/i\u003e. “Now people are shifting away from Vancouver, which will definitely cause a strain on LA-LB, but we don’t know how bad.” \u003c/p\u003e\u003cp\u003e US imports from Asia in July surged 32.8% in Los Angeles and 44.8% in Long Beach year over year, according to PIERS, a \u003ci\u003eJournal of Commerce\u003c/i\u003e sister company within S\u0026amp;P Global. And retailers say \u003ca href=\"https://www.joc.com/article/near-record-surge-possible-for-us-imports-in-august-retail-group-5703194\"\u003eAugust is shaping up to be a near-record month for total imports from Asia\u003c/a\u003e.\u003c/p\u003e\u003cp\u003ePMSA, which tracks rail and truck container dwell times monthly in LA-LB, said dwell is a constantly moving phenomenon. \u003c/p\u003e\u003cp\u003e“It goes up, then it goes down,” Michele Grubbs, PMSA’s vice president, told the \u003ci\u003eJournal of Commerce\u003c/i\u003e. “They get a problem, and then they seem to manage it.” \u003c/p\u003e\u003cp\u003eOne reason why the transportation community in Southern California can respond to operational issues as they arise is that the ports share data in real time with port users before the problems surface, Seroka said. \u003c/p\u003e\u003cp\u003e“We have so much more data that we can see these micro-spikes before we used to,” he said. \u003c/p\u003e\u003cp\u003eFor example, the Marine Exchange of Southern California is forecasting “continued strong container ship arrivals [over] the next two weeks,” said Kip Louttit, the exchange’s executive director. Louttit said container ship arrivals in the LA-LB port complex are averaging almost 55 per day, up from 45 to 49 per day in the first six months of the year. \u003c/p\u003e\u003ch3\u003eSpot shortage of chassis on the streets \u003c/h3\u003e\u003cp\u003eSome non-vessel operating common carriers are reporting spot chassis shortages in Southern California, although terminal operators say the shortages are occurring at warehouses and other off-dock sites. According to the Pool of Pools (PoP), which is managed by the three largest intermodal equipment providers (IEPs) in Southern California, the average street dwell for 40- and 45- foot chassis as of Monday was six days, just shy of the seven day-plus dwell that raises a red flag. \u003c/p\u003e\u003cp\u003eSeroka said marine terminals have stacks of operable chassis at their facilities, and almost all the equipment is ready for use rather than sidelined because of needed repairs. That was supported by the Pool of Pools website, which listed 5% of the chassis in need of repair; IEPs say shortages can be an issue when 10% or more of the inventory is out of service. \u003c/p\u003e\u003cp\u003eFlexi-Van Leasing, one of the IEPs that manages the Pool of Pools, said that while occasional chassis shortages have occurred in Southern California, Flexi-Van has sufficient equipment at its depots to meet customer needs. \u003c/p\u003e\u003cp\u003e”Indeed, PoP has been tight at certain times on given days, with extra-loader [vessels] arriving, but we are sufficiently contributed for our contracted customers and are meeting demand,” said Greg Moore, Flexi-Van’s chief commercial officer. \u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Bill Mongelluzzo at \u003c/i\u003e\u003ca href=\"mailto:bill.mongelluzzo@spglobal.com\"\u003e\u003ci\u003ebill.mongelluzzo@spglobal.com\u003c/i\u003e\u003c/a\u003e\u003ci\u003e.\u003c/i\u003e \u003c/p\u003e\u003cp\u003e\u003ci\u003eAssociate Editor Laura Robb contributed to this report.\u003c/i\u003e \u003c/p\u003e\u003c/div\u003e","Metadata":{"BylineOverwrite":null,"AuthorCompanyOrEventLink":null,"PaywallLocked":true,"FeatureImageCopyright":"Los Angeles-Long Beach port and terminal managers say access to advance shipment data and cooperation from the railroads should prevent serious peak season congestion. Photo credit: Robert V Schwemmer / Shutterstock.com.","__typename":"Metadata"},"ModDate":"1724791455720","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":"10","Name":"Port News","Redirects":[{"Path":"/maritime/port-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"38","Name":"Trans-Pacific","Redirects":[{"Path":"/maritime/container-shipping-news/trans-pacific","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"42","Name":"North American ports","Redirects":[{"Path":"/maritime/port-news/north-american-ports","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"43","Name":"Marine terminals","Redirects":[{"Path":"/maritime/port-news/marine-terminals","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"Bill Mongelluzzo, Senior Editor","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1724788502000","TitlePlainText":"LA-LB rail dwells on the rise as port complex enters height of peak season","Published":true,"Redirects":[{"Path":"/article/la-lb-rail-dwells-on-the-rise-as-port-complex-enters-height-of-peak-season-5712900","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eWhile some customers worry rail container dwell times could worsen, port stakeholders say they are accustomed to the ebb and flow and can manage the recent import surge.\u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"While some customers worry rail container dwell times could worsen, port stakeholders say they are accustomed to the ebb and flow and can manage the recent import surge.","__typename":"Document"},{"Id":"5712259_JournalOfCommerce","Attachments":[{"FileName":"5712256_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eThe Port of Portland hopes to have a third-party operator agree to run its container terminal by early next year as the gateway looks to provide consistent container service to Oregon’s shippers and stanch the losses it has incurred while running the facility. \u003c/p\u003e\u003cp\u003eThe port on Friday submitted a business plan to Oregon Gov. Tina Kotek, \u003ca href=\"https://www.joc.com/article/oregon-governor-proposes-40-million-to-keep-portland-container-service-alive-5225215\"\u003ea condition she included after agreeing to provide the port with $40 million in state funding to keep the T6 terminal open\u003c/a\u003e. After two years of losses for T6, \u003ca href=\"https://www.joc.com/article/portland-plans-to-end-container-business-by-october-5240957\"\u003ethe port had threatened to close the terminal by October\u003c/a\u003e, which would have cut off Portland from trans-Pacific container services. \u003c/p\u003e\u003cp\u003eThe state money, comprised of $5 million in stopgap funding to help cover the current fiscal year’s loss and $35 million for dredging the Columbia River and long-term capital work at T6, was predicated on the Port of Portland finding a way to remain financially viable. \u003c/p\u003e\u003cp\u003eIn the near term, the port said it renegotiated a contract with T6’s outside manager Harbor Industrial Services and secured new terminal use fees from ocean carriers that are 16% to 20% higher than previous rates. And an expected 10% increase in container volumes due to ocean carriers offering more allocations for Portland will also help stem T6’s losses, with the port estimating the terminal will handle 58,900 containers in its 2025 fiscal year. \u003c/p\u003e\u003cp\u003eData from PIERS, a sister product of the \u003ci\u003eJournal of Commerce\u003c/i\u003e within S\u0026amp;P Global, shows Portland’s total container volume during the first half of 2024 fell to 41,436 TEUs, down almost 17% from the comparable year-earlier period. \u003c/p\u003e\u003cp\u003eThe port also said that Harbor Industrial and the International Longshore and Warehouse Union (ILWU) locals at the port are working to increase the number of crane moves per hour while densifying T6’s container yard. The port is also opening terminal gates on four days instead of five to control expenses. \u003c/p\u003e\u003cp\u003eBut Portland is looking to follow the landlord model more common to other West Coast ports. The port’s Board of Commissioners said it wants to negotiate an agreement with a private terminal operator to take over T6; the operator would handle T6’s management and daily operations, along with marketing the facility to ocean carriers and shippers. \u003c/p\u003e\u003cp\u003e“An agreement with a private operator would shield the port from the highly cyclical nature of the business and remove the current stevedore management structure for hiring labor and managing the terminal,” the port wrote in its business plan.\u003c/p\u003e\u003cp\u003eThe port said it expects to have an agreement with a third-party operator by January. It said the agreement should be conditioned on receiving $20 million of the state funding, which will go toward projects such as repaving T6, maintaining its berths, stormwater drainage and other improvements. \u003c/p\u003e\u003cp\u003eUnder a new terminal operator, the port hopes to double its current volume of 60,000 containers per year to 120,000 containers annually by 2032, with an eventual target of 180,000 containers annually after that. \u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Michael Angell at \u003c/i\u003e\u003ca href=\"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":"The Port of Portland said better volumes, contract concessions and higher terminal use fees will help stem some of the red ink at its T6 terminal. Photo credit: Luciavonu / Shutterstock.com","__typename":"Metadata"},"ModDate":"1724705774950","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":"34","Name":"Container lines","Redirects":[{"Path":"/maritime/container-shipping-news/container-lines","__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":"Michael Angell, Senior Editor","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1724704034000","TitlePlainText":"Portland pushing for third-party container terminal operator by January","Published":true,"Redirects":[{"Path":"/article/portland-pushing-for-third-party-container-terminal-operator-by-january-5712259","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eThe port is looking to employ the landlord model used at other West Coast ports that would allow a private operator to manage the T6 terminal’s daily operations and market the facility to ocean carriers and shippers.\u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"The port is looking to employ the landlord model used at other West Coast ports that would allow a private operator to manage the T6 terminal’s daily operations and market the facility to ocean carriers and shippers.","__typename":"Document"},{"Id":"5711329_JournalOfCommerce","Attachments":[{"FileName":"5711298_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eOcean carriers are offering more competitive prices from Asia to the US than they were just weeks ago, with voyage-specific “bullet” rates and commodity-specific rates undercutting the listed spot and freight-all-kinds (FAK) rates, especially to the West Coast. These new rates — about $1,000 per FEU lower than the listed rate — come as capacity to the West Coast exceeds current demand due to the \u003ca href=\"https://www.joc.com/article/service-additions-in-trans-pacific-drive-big-boost-in-july-deployed-capacity-5703128\"\u003e10 new or reinstated services deployed on the trans-Pacific in recent months.\u003c/a\u003e\u003c/p\u003e\u003cp\u003e“There’s heated competition to the West Coast,” Kurt McElroy, executive vice president of the non-vessel-operating common carrier (NVO) Kerry Apex, told the \u003ci\u003eJournal of Commerce\u003c/i\u003e. “There’s a proliferation of special rates that is accelerating.” \u003c/p\u003e\u003cp\u003eThe spot rate from North Asia to the West Coast as of Friday was $6,000 per FEU, according to Platts, a sister company of the \u003ci\u003eJournal of Commerce\u003c/i\u003e within S\u0026amp;P Global. By contrast, a number of carriers are offering prices closer to $5,000 per FEU in the form of one-time, or “bullet,” rates, as well as so-called blended rates or rates specific to commodity or trade lane, said Jon Monroe, who advises about two dozen NVOs.\u003c/p\u003e\u003cp\u003e“Those are the rates that are moving cargo,” Monroe said. \u003c/p\u003e\u003cdiv class=\"wrapper-narrow\"\u003e\u003cdynamic-object type=\"jocchartid\" resource-id=\"e7a65aab-9aac-4f07-9b74-1793746c01ef\"\u003e\u003c/dynamic-object\u003e\u003c/div\u003e\u003cp\u003eThat reality is an indication that what was a tight market in the eastbound trans-Pacific just two months ago is beginning to loosen up, and carriers are competing aggressively with each other to fill their slots. \u003c/p\u003e\u003cp\u003e“Carriers have elected to ship under commodity [specific] rates, even to the East Coast. The big carriers all have special rates,” McElroy said. “There are so many special rates that special rates are becoming the effective rate.” \u003c/p\u003e\u003cp\u003eThe special rates for commodities offer discounts for everything from furniture and tire rims to forest product imports, he said. \u003c/p\u003e\u003cp\u003eA carrier executive confirmed that the special rates he’s seeing in the market are in the range that NVOs are quoting to their customers. “They’re not far off,” the source said. “Maybe they’re a little low.” \u003c/p\u003e\u003cp\u003eA second carrier executive said the general rate increases (GRIs) that most trans-Pacific carriers announced last week are helping to “stabilize rates” on the trade lane. The GRIs did not push spot and FAK rates higher, though. \u003c/p\u003e\u003cp\u003eThe executive emphasized, however, that not all shipments to the West Coast are moving at spot or FAK rates below $6,000. “There’s still a great deal of space being filled in the $6,000s,” he said. \u003c/p\u003e\u003ch3\u003eSpecial rates are undercutting spot rates \u003c/h3\u003e\u003cp\u003eAlthough carriers announced GRIs as high as $1,000 per FEU effective Aug. 15, the increases did not stick, said Christian Sur, executive vice president of ocean freight and contract logistics at the NVO Unique Logistics International. \u003c/p\u003e\u003cp\u003eSur said he is seeing a number of “blended rates” where beneficial cargo owners (BCOs) and NVOs ship containers under their service contract rate, which is generally about $1,600 per FEU to the West Coast for midsized BCOs and NVOs, as long as each fixed-rate container is matched by a container shipped under the listed spot rate of about $6,000. That lowers the effective rate of the containers shipped under the spot and FAK rates, he said. \u003c/p\u003e\u003cp\u003eThere has also been a proliferation of “commodity” rates in recent weeks as space has opened up in the trans-Pacific, especially to the West Coast, McElroy said. Each carrier has core products on different trade lanes, such as furniture or automotive products from China or wood products from Indonesia. As space becomes more plentiful, carriers will offer discounts to capture even more cargo in those specific categories \u003c/p\u003e\u003cp\u003eThe logistics manager at an importer of automotive products said carriers are discussing with him a variety of special-rate options. “We’re seeing all of it,” the source said. “Things are slowing down.” \u003c/p\u003e\u003ch3\u003eBlank sailings could stabilize rates in September \u003c/h3\u003e\u003cp\u003eCarriers are suggesting that competition for business could increase in the coming month as they intend to deploy less capacity in the trans-Pacific. For the West Coast specifically, carriers have signaled plans to offer expected capacity of 1.41 million TEUs in September, down from expected capacity of 1.51 million TEUs in August, according to maritime intelligence provider eeSea. \u003c/p\u003e\u003cdiv class=\"wrapper-narrow\"\u003e\u003cdynamic-object type=\"jocchartid\" resource-id=\"1c1d9578-c129-4d4e-a136-e220473bd136\"\u003e\u003c/dynamic-object\u003e\u003c/div\u003e\u003cp\u003eUS imports from Asia in July totaled 1.75 million TEUs, a 21.5% increase from July 2023, according to PIERS, a \u003ci\u003eJournal of Commerce\u003c/i\u003e sister product within S\u0026amp;P Global. \u003c/p\u003e\u003cp\u003eAnd US retailers expect another strong month for imports in August, forecasting a 19.2% year-over-year jump. West Coast imports are expected to be quite strong because of the growing possibility of a strike by the International Longshoremen’s Association when its contract with employers along the East and Gulf coasts expires on Sept. 30. \u003c/p\u003e\u003cp\u003eBen Hackett, founder of Hackett Associates, said August could see near-record import volumes. \u003c/p\u003e\u003cp\u003e“Importers are continuing to grow their inventories and are shifting cargo to the West Coast as a precaution against potential labor disruptions,” he said in the Aug. 8 Global Port Tracker, which is published monthly by the National Retail Federation and Hackett Associates. \u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Bill Mongelluzzo at \u003c/i\u003e\u003ca href=\"mailto:bill.mongelluzzo@spglobal.com\"\u003e\u003ci\u003ebill.mongelluzzo@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 current spot rate from North Asia to the US West Coast is $6,000 per FEU, according to Platts, a sister company of the Journal of Commerce within S\u0026P Global. Photo credit: Angel DiBilio / Shutterstock.com.","__typename":"Metadata"},"ModDate":"1724696715430","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":"36","Name":"Forwarding","Redirects":[{"Path":"/maritime/container-shipping-news/forwarding","__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":"Bill Mongelluzzo, Senior Editor","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1724690811000","TitlePlainText":"Capacity boost on trans-Pacific pushes carriers to compete for cargo","Published":true,"Redirects":[{"Path":"/article/capacity-boost-on-trans-pacific-pushes-carriers-to-compete-for-cargo-5711329","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eCompetition to fill ships in the eastbound trans-Pacific has become so intense in recent weeks that ocean carriers are offering a variety of special rates that are much lower than the spot rates they are quoting.\u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"Competition to fill ships in the eastbound trans-Pacific has become so intense in recent weeks that ocean carriers are offering a variety of special rates that are much lower than the spot rates they are quoting.","__typename":"Document"},{"Id":"5706377_JournalOfCommerce","Attachments":[{"FileName":"5706345_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eContainer lines calling in Tacoma are warning customers to expect extended rail congestion and shifting vessel rotations as imports surge and marine terminals struggle with a shortage of intermodal rail cars. \u003c/p\u003e\u003cp\u003eHapag-Lloyd, in a customer advisory Monday, said import rail container dwell times for Tacoma are 5.8 days at the Husky Terminal and 9.6 days at Washington United Terminal (WUT). Marine terminal congestion often occurs when rail container dwells consistently exceed three to four days. \u003c/p\u003e\u003cp\u003e“Rail car supply is in severe deficit, causing higher import rail dwell times,” Hapag-Lloyd said. “No major improvement [is] expected during the month of August.” \u003c/p\u003e\u003cp\u003eOcean Network Express (ONE) in the coming weeks will change the rotation of six of its trans-Pacific services that had made Tacoma the first inbound call; instead, the first call on those services will be to Vancouver before proceeding to Tacoma. \u003c/p\u003e\u003cp\u003e“The Port of Tacoma terminals are experiencing severe import rail congestion, which is impacting vessel operations,” ONE said in a customer advisory Friday. ONE is an exclusive partner to Union Pacific Railroad in the western US. \u003c/p\u003e\u003cdiv class=\"wrapper-narrow\"\u003e\u003cdynamic-object type=\"jocchartid\" resource-id=\"5ce4e54d-a8c8-4c8d-af2b-703843757590\"\u003e\u003c/dynamic-object\u003e\u003c/div\u003e\u003ch3\u003eImport surge, diversion of Canadian cargo fuel congestion \u003c/h3\u003e\u003cp\u003eThe surge in imports over the past few months is due to an early peak shipping season in the trans-Pacific, which prompted carriers to launch or \u003ca href=\"https://www.joc.com/article/service-additions-in-trans-pacific-drive-big-boost-in-july-deployed-capacity-5703128\"\u003ereinstate three additional services from Asia to the Pacific Northwest this year\u003c/a\u003e. Also, retailers are diverting discretionary imports from Vancouver to Seattle-Tacoma due to the threat of \u003ca href=\"https://www.joc.com/article/canadian-railroads-start-scaling-back-business-ahead-of-potential-work-stoppage-5705786\"\u003ea work stoppage at the Canadian National (CN) and Canadian Pacific Kansas City (CPKC) railroads that could begin on Thursday\u003c/a\u003e.\u003c/p\u003e\u003cp\u003eUS imports from Asia moving through the Northwest Seaport Alliance (NWSA) of Seattle and Tacoma spiked 51% in July year over year after increasing 29% in June and 22% in May, according to PIERS, a sister company of the \u003ci\u003eJournal of Commerce\u003c/i\u003e within S\u0026amp;P Global. \u003c/p\u003e\u003cp\u003eUP and BNSF railroads serve the NWSA, but the gateway’s rail congestion issues are centered mostly at the marine terminals in Tacoma served by UP, including Washington United. \u003c/p\u003e\u003cp\u003eUP’s terminal in Tacoma has been congested on and off for several months since the double-digit spike in volumes to NWSA, affecting inbound and outbound service for cargo traveling in ocean and domestic intermodal containers. \u003c/p\u003e\u003cp\u003e“Union Pacific is working closely with terminals to move the additional volume, sharing data and finding ways to enhance processes for faster handling,” a UP spokesperson said in a statement to the \u003ci\u003eJournal of Commerce\u003c/i\u003e. “While WUT has a backlog, it’s important to take into account the bigger picture, noting the unique attributes and physical capabilities of each terminal.” \u003c/p\u003e\u003cp\u003eJeff Bellerud, COO of the NWSA, said port staff is working with the western railroads to address the challenges of handling the gateway’s 40% year-over-year increase in intermodal volume. \u003c/p\u003e\u003cp\u003e“We are seeing isolated pockets of rail dwell at some terminals, but the collective alignment between railroads, marine terminal operators and ocean carriers has quickly led to actionable solutions,” Bellerud told the \u003ci\u003eJournal of Commerce.\u003c/i\u003e He added that the NWSA-run North Intermodal Yard, which services the Husky Terminal in Tacoma, has seen rail dwell return to 3.1 days, down from a high of 5.9 days earlier this month. \u003c/p\u003e\u003cp\u003eMeanwhile, BNSF, the primary rail carrier serving Terminals 5, 18 and 30 in Seattle, said its operations there are “quite fluid.” \u003c/p\u003e\u003cp\u003e“Our commercial team hasn’t taken a single call with a concern from carriers about congestion or dwell, and that’s with our volume up significantly,” Jon Gabriel, BNSF’s vice president for innovation, service design and network strategy, told the \u003ci\u003eJournal of Commerce.\u003c/i\u003e \u003c/p\u003e\u003cp\u003e Gabriel noted that BNSF has activated equipment and added capacity and crew to the region \u003ca href=\"https://www.joc.com/article/west-coast-ports-say-ready-to-handle-peak-season-bump-after-front-loading-surge-5703188\"\u003ein anticipation of the growing intermodal volume\u003c/a\u003e.\u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Bill Mongelluzzo at \u003c/i\u003e\u003ca href=\"mailto:bill.mongelluzzo@spglobal.com\"\u003e\u003ci\u003ebill.mongelluzzo@spglobal.com\u003c/i\u003e\u003c/a\u003e\u003ci\u003e.\u003c/i\u003e \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.\u003c/p\u003e\u003c/div\u003e","Metadata":{"BylineOverwrite":"Bill Mongelluzzo, Senior Editor, and Ari Ashe, Senior Editor","AuthorCompanyOrEventLink":null,"PaywallLocked":true,"FeatureImageCopyright":"Ocean Network Express (ONE) in the coming weeks will change the rotation of six of its trans-Pacific services that had made Tacoma the first inbound call. Photo credit: Oliver Hoffmann / Shutterstock.com. ","__typename":"Metadata"},"ModDate":"1724103374787","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":"10","Name":"Port News","Redirects":[{"Path":"/maritime/port-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"34","Name":"Container lines","Redirects":[{"Path":"/maritime/container-shipping-news/container-lines","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"38","Name":"Trans-Pacific","Redirects":[{"Path":"/maritime/container-shipping-news/trans-pacific","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"42","Name":"North American ports","Redirects":[{"Path":"/maritime/port-news/north-american-ports","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"43","Name":"Marine terminals","Redirects":[{"Path":"/maritime/port-news/marine-terminals","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1724103374000","TitlePlainText":"Tacoma marine terminals grappling with heavy import rail congestion","Published":true,"Redirects":[{"Path":"/article/tacoma-marine-terminals-grappling-with-heavy-import-rail-congestion-5706377","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003e Container lines calling in Tacoma say the congestion is being caused by a surge in import volumes and a shortage of rail cars that is likely to last at least through August.\u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"Container lines calling in Tacoma say the congestion is being caused by a surge in import volumes and a shortage of rail cars that is likely to last at least through August.","__typename":"Document"},{"Id":"5706354_JournalOfCommerce","Attachments":[{"FileName":"5706351_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eA potential prolonged labor disruption at ports along the US East and Gulf coasts would have a “global impact,” similar to how Red Sea diversions triggered by Houthi rebel attacks this year have slowed down the circulation of ships and equipment, an executive at Zim Integrated Shipping Services said Monday. \u003c/p\u003e\u003cp\u003eAn extended work stoppage would “lock up some capacity,” Zim CFO Xavier Destriau told the \u003ci\u003eJournal of Commerce\u003c/i\u003e as the company released its second-quarter earnings. \u003c/p\u003e\u003cp\u003e“Some containers and some equipment would be stranded on the East Coast and not find a way back, putting the whole logistics chain under stress,” he said. “Clearly, the West Coast would not be able to absorb the influx of cargo shifting from the east to west.” \u003c/p\u003e\u003cp\u003eThe front-loading of cargo by shippers to the East and Gulf coasts \u003ca href=\"https://www.joc.com/article/ila-strike-possibility-has-risen-in-recent-months-hapag-lloyd-ceo-5703053\"\u003eahead of the Oct. 1 strike threatened\u003c/a\u003e by the International Longshoremen’s Association (ILA) helped drive an 11% bump in volumes handled by Zim globally in the second quarter. That, coupled with stronger pricing and efficiencies gained through a newer fleet, drove net income to $373 million in Q2, up from a $213 million loss a year ago. Revenue in the quarter was up nearly 50% to $1.9 billion. \u003c/p\u003e\u003ch2\u003eRestocking to rebuilding inventories \u003c/h2\u003e\u003cp\u003eStrong US inventory building, partly driven by shippers burned by stockouts during pandemic-era port congestion and not wanting to take chances ahead of the holiday shopping season, has \u003ca href=\"https://www.joc.com/article/near-record-surge-possible-for-us-imports-in-august-retail-group-5703194\"\u003epropelled volume growth\u003c/a\u003e, said Zim CEO Eli Glickman. US importers of China-sourced freight may also be bringing goods in earlier, hoping to avoid the tariffs threatened by Republican presidential nominee Donald Trump. \u003c/p\u003e\u003cp\u003eGlickman said after a year of restocking in 2023, US importers are now building volumes, but not close to the point in which there will likely be a strong corrective drawdown. US retail sales remain resilient, while the ratio of US retail inventories to sales, a barometer of inventory balance, edged up in June to 1.21 from 1.20 in May, according to US Census Bureau data. \u003c/p\u003e\u003cp\u003eMeanwhile, new and more efficient tonnage is improving Zim’s profitability, said Destriau. In the last six months, Zim’s capacity has ballooned 17% to 108,604 TEUs, according to maritime analyst Alphaliner. \u003c/p\u003e\u003cp\u003eZim’s adjusted earnings before interest, taxes, depreciation and amortization in the second quarter was 179% higher than a year ago at $776 million. The Israel-based carrier raised its full-year earnings before interest, taxes and amortization guidance from $2.6 billion to $3 billion. \u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Mark Szakonyi at \u003c/i\u003e\u003ca href=\"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":"Mark Szakonyi, Executive Editor","AuthorCompanyOrEventLink":null,"PaywallLocked":true,"FeatureImageCopyright":"Zim credited its newer fleet for contributing to a second quarter boost in profitability.","__typename":"Metadata"},"ModDate":"1724103134420","Taxonomy":{"MainCategory":[{"Id":"34","Name":"Container lines","Redirects":[{"Path":"/maritime/container-shipping-news/container-lines","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"AdditionalCategories":[{"Id":"1","Name":"Maritime","Redirects":[{"Path":"/maritime","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"10","Name":"Port News","Redirects":[{"Path":"/maritime/port-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"38","Name":"Trans-Pacific","Redirects":[{"Path":"/maritime/container-shipping-news/trans-pacific","__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":[],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1724103134000","TitlePlainText":"US port strike would have Red Sea-like ‘global impact’: ZIM CFO","Published":true,"Redirects":[{"Path":"/article/us-port-strike-would-have-red-sea-like-global-impact-zim-cfo-5706354","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eA prolonged work stoppage at ports along the East and Gulf coasts would put global shipping under stress in a manner similar to the forced vessel diversions around southern Africa, Zim’s Xavier Destriau told the \u003ci\u003eJournal of Commerce\u003c/i\u003e. \u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"A prolonged work stoppage at ports along the East and Gulf coasts would put global shipping under stress in a manner similar to the forced vessel diversions around southern Africa, Zim’s Xavier Destriau told the Journal of Commerce.","__typename":"Document"},{"Id":"5703235_JournalOfCommerce","Attachments":[{"FileName":"5703236_1.0.jpg","FileType":"FeatureImage","Title":"3688320_FI.jpg","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eOcean schedules on the main trade lanes out of Asia are set to deteriorate further in the coming weeks following the huge explosion aboard a Yang Ming vessel Friday that closed the Chinese export hub of Ningbo. \u003c/p\u003e\u003cp\u003eThe port has been closed “until further notice,” according to Hapag-Lloyd. That will pile pressure on container shipping supply chains still struggling to catch up on disrupted schedules after Typhoon Gaemi blew through the region at the end of July. \u003c/p\u003e\u003cp\u003eNingbo was closed following an explosion and fire on board the 6,589-TEU \u003ci\u003eYM Mobility\u003c/i\u003e that was berthed at Beilun phase three terminal (NBSCT). The ship is deployed on a joint service called CGX by Yang Ming and Asia Gulf Express 2 (AG2) by partners Hapag-Lloyd and Ocean Network Express (ONE). \u003c/p\u003e\u003cp\u003e“Preliminary findings suggest that an explosion occurred in a container loaded with dangerous goods on board,” Yang Ming Marine Transport said in a statement Friday. The carrier said that according to the shipper declaration, the container was a refrigerated unit being used as a substitute for a dry container without requiring power connection. \u003c/p\u003e\u003cp\u003e“Immediate fire control measures were taken, and the situation is now under control,” the statement said, adding that all crew members were safely evacuated. \u003c/p\u003e\u003cp\u003eA Hapag-Lloyd spokesperson told the \u003ci\u003eJournal of Commerce\u003c/i\u003e “the situation is still unclear,” but they had been informed the port will be closed “until further notice.” \u003c/p\u003e\u003cp\u003e“Colleagues are in touch with the terminal trying to get an overview what has happened exactly and how this incident will potentially affect the overall port operations going forward,” the spokesperson said. \u003c/p\u003e\u003ch2\u003eDelays at a time of peak demand \u003c/h2\u003e\u003cp\u003eWhat is clear is that the closure of one of China’s busiest container ports will add to the schedule disruption already being felt on the main Asian export trade lanes at a time of \u003ca href=\"https://www.joc.com/article/near-record-surge-possible-us-imports-august-retail-group_20240808.html\"\u003epeak import demand in the US\u003c/a\u003e and Europe. \u003c/p\u003e\u003cp\u003eHapag-Lloyd said its ships were waiting up to four days to berth at Ningbo before the explosion because of bad weather, with Expeditors putting the pre-explosion dwell time at up to nine days, depending on the terminal. \u003c/p\u003e\u003cp\u003eBerthing delays are also affecting Shanghai, Xiaman, Busan and further south in Hong Kong, Singapore and Port Klang, carriers and forwarders said Friday. Carriers have also added extra loaders to call at Hong Kong to pick up transshipment cargo unloaded early in the rotations due to delays at nearby ports, Hutchison Port Holdings Trust said. \u003c/p\u003e\u003cp\u003e“For export shipments, the average waiting time at China’s major ports is three to seven days. It seems that has become normal,” a spokesperson for Hong Kong-based FIBS Logistics told the \u003ci\u003eJournal of Commerce\u003c/i\u003e. \u003c/p\u003e\u003cp\u003eNingbo is one of the main Asian ports on several services operated by the 2M Alliance of Maersk and Mediterranean Shipping Co., which earlier this week announced rotation changes to Asia-Europe calls amid growing port congestion in both Asia and North Europe. \u003c/p\u003e\u003cp\u003e\u003c/p\u003e\u003cdiv class=\"wrapper-full\"\u003e\u003cdynamic-object type=\"jocchartid\" resource-id=\"39fac2d3-fa25-461f-9ac4-eec53d6b7298\"\u003e\u003c/dynamic-object\u003e\u003c/div\u003e\u003cp\u003eShip delays in Asia, combined with the longer voyages around southern Africa to avoid the Red Sea, are contributing to vessel bunching and extending the bottlenecks through to European destination ports. \u003c/p\u003e\u003cp\u003e“As a result of the exceptional waiting time and congestion faced in North Europe, Maersk will reduce the number of North European port calls by consolidating the Antwerp eastbound and westbound call on the AE6 [service] and the Rotterdam calls between both the AE6 and AE55 onto AE55,” the carrier told customers in an advisory this week. Le Havre will be dropped from the AE7 and AE55 services and added to the AE6. \u003c/p\u003e\u003ch2\u003eCongestion a constant in North Europe \u003c/h2\u003e\u003cp\u003eMarc Meier, managing director of air and sea logistics for Europe, Middle East and Africa at Germany-based forwarder Dachser, said congestion in North Europe has been constant for the past two weeks, with Hamburg delays longer than at other hubs. \u003c/p\u003e\u003cp\u003e“We expect it to worsen until the end of the year and are working on rerouting south German and Austrian customers through Koper [Slovenia, in the Mediterranean],” he said. \u003c/p\u003e\u003cp\u003eA spokesperson for Hamburg’s main terminal operator HHLA said most containers were still being delivered “on the basis of the original plans,” although there have been ship delays and adjustments to shipping schedules in the past few weeks. \u003c/p\u003e\u003cp\u003eThe Hapag-Lloyd spokesperson said vessel waiting times in June and July increased after the strike action in German ports, the global IT outage in late July and low labor levels during the summer holidays. \u003c/p\u003e\u003cp\u003e“Thus far we have been able to recover any delays through a changed rotation, speeding up ships and cut and runs [when cargo is offloaded at a different port than the one intended],” he said. \u003c/p\u003e\u003cp\u003eCok Vinke, managing director for intermodal operator Contargo, said congestion at Rotterdam and Antwerp has always been a factor delaying the handling of barges. \u003c/p\u003e\u003cp\u003e“At times handling is better, at times it is worse due to a variety of reasons, but it has never gone away,” Vinke said, adding that congestion in the two ports “is here to stay.” \u003c/p\u003e\u003cp\u003eThe latest schedule reliability data from Sea-Intelligence Maritime Analysis is only available for June and shows Asia-North Europe reliability edged up 0.3 percentage points to 48.7%, with Asia-Mediterranean on-time performance improving 7.8 percentage points to 58.2% and Asia-North America up 1.6 percentage points to 66.3%. \u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Greg Knowler at \u003ca href=\"mailto:greg.knowler@ihsmarkit.com\"\u003egreg.knowler@spglobal.com\u003c/a\u003e. \u003c/i\u003e\u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Keith Wallis at \u003ca href=\"mailto:keithwallis@hotmail.com\"\u003ekeithwallis@hotmail.com\u003c/a\u003e. \u003c/i\u003e\u003c/p\u003e\u003c/div\u003e","Metadata":{"BylineOverwrite":"Greg Knowler, Senior Europe Editor, and Keith Wallis, Special Correspondent","AuthorCompanyOrEventLink":null,"PaywallLocked":true,"FeatureImageCopyright":"The port of Ningbo-Zhoushan is the second largest in China and handled 35.3 million TEUs in 2023. Photo credit: Weiming Xie / Shutterstock.com.","__typename":"Metadata"},"ModDate":"1723793266190","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":"36","Name":"Forwarding","Redirects":[{"Path":"/maritime/container-shipping-news/forwarding","__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"},{"Id":"44","Name":"International ports","Redirects":[{"Path":"/maritime/port-news/international-ports","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"JOC Staff","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1723218467000","TitlePlainText":"Ningbo explosion closes port, adds to worsening Asian bottlenecks","Published":true,"Redirects":[{"Path":"/article/ningbo-explosion-closes-port-adds-to-worsening-asian-bottlenecks-5703235","__typename":"Redirect"},{"Path":"/article/ningbo-explosion-closes-port-adds-worsening-asian-bottlenecks_20240809.html","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eThe closure of one of China’s busiest container ports will add to the lengthening vessel delays being seen on the main Asian export trade lanes, while North Europe grapples with its own congestion woes on the other end.\u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"The closure of one of China’s busiest container ports will add to the lengthening vessel delays being seen on the main Asian export trade lanes, while North Europe grapples with its own congestion woes on the other end.","__typename":"Document"},{"Id":"5703194_JournalOfCommerce","Attachments":[{"FileName":"5703195_1.0.jpg","FileType":"FeatureImage","Title":"3688316_FI.jpg","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eUS retailers said Thursday they do not expect any slowing of imports in the second half of the year that will feature a “near-record surge” in August driven by fast-forwarding of shipments ahead of potential longshore labor disruption at ports along the East and Gulf coasts. \u003c/p\u003e\u003cp\u003eSome carriers, forwarders and industry analysts in recent months have indicated that US imports could taper off during the traditional August through October peak shipping season because of the front-loading of cargo that took place earlier this year. \u003c/p\u003e\u003cp\u003eBut the National Retail Federation (NRF) and Hackett Associates, publishers of the monthly Global Port Tracker (GPT), say that won’t be the case. The GPT has again upgraded its short-term forecast for imports, saying it expects year-over-year monthly increases in imports at least through the end of the year. \u003c/p\u003e\u003cp\u003e“Retailers are concerned by the possibility of a strike at ports on the East and Gulf coasts because contract talks have stalled,” Jonathan Gold, vice president for supply chain and customs policy at the NRF, said in a statement accompanying the GPT. “Many retailers have taken precautions, including earlier shipping and \u003ca href=\"https://www.joc.com/article/west-coast-ports-say-ready-handle-peak-season-bump-after-front-loading-surge_20240725.html\"\u003eshifting of cargo to West Coast ports\u003c/a\u003e.” \u003c/p\u003e\u003cp\u003eThe International Longshoremen’s Association (ILA) is seeking \u003ca href=\"https://www.joc.com/article/ila-seeking-huge-wage-hike-maritime-employers-sources_20240805.html\"\u003ean almost 80% wage increase\u003c/a\u003e over the life of its next six-year contract with maritime employers on the East and Gulf coasts, two ocean carrier sources familiar with the negotiations told the \u003ci\u003eJournal of Commerce\u003c/i\u003e this week. The disclosure comes as the ILA last weekend sent a 60-day notice to the United States Maritime Alliance (USMX) warning that \u003ca href=\"https://www.joc.com/article/opinions-mixed-potential-disruption-ila-contract-deadline-inches-closer_20240425.html\"\u003ethe union is prepared to strike\u003c/a\u003e if a new labor deal is not signed before the current contract’s Sept. 30 expiration. \u003c/p\u003e\u003cp\u003eThe GPT now expects August imports to increase 19.2% year over year, up from its previous forecast of a 13.5% increase. Imports in September are expected to increase 6.5%, up from 3.5% forecast last month. Upgrades were also given for October (a 1.7% year-over-year gain compared with a 0.5% decline) and November (4.4% growth compared with a 3.5% gain). \u003c/p\u003e\u003cp\u003eIn its first forecast for December, the GPT calls for a year-over-year increase of 3.5%, bringing the GPT’s forecast for imports in 2024 to a 12.1% increase over 2023. The NRF forecasts that retail sales this year will increase between 2.5% and 3.5% over 2023. \u003c/p\u003e\u003cp\u003eUS imports from Asia have risen on a year-over-year basis for every month since last October, according to PIERS, a sister company of the \u003ci\u003eJournal of Commerce\u003c/i\u003e within S\u0026amp;P Global. \u003c/p\u003e\u003cp\u003e\u003c/p\u003e\u003cdiv class=\"wrapper-full\"\u003e\u003cdynamic-object type=\"jocchartid\" resource-id=\"4ed96169-fa34-4b46-81e8-b67860854e39\"\u003e\u003c/dynamic-object\u003e\u003c/div\u003e\u003cp\u003e“Importers are continuing to grow their inventories and are shifting cargo to the West Coast as a precaution against potential labor disruptions,” said Ben Hackett, founder of Hackett Associates. \u003c/p\u003e\u003cp\u003eIt now appears that US imports will remain elevated until Lunar New Year 2025, which falls on Jan. 29. Many factories in Asia close for a week or two during the annual holiday celebrations. \u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Bill Mongelluzzo at \u003ca href=\"mailto:bill.mongelluzzo@spglobal.com\"\u003ebill.mongelluzzo@spglobal.com\u003c/a\u003e.\u003c/i\u003e\u003c/p\u003e\u003c/div\u003e","Metadata":{"BylineOverwrite":"Bill Mongelluzzo, Senior Editor","AuthorCompanyOrEventLink":null,"PaywallLocked":true,"FeatureImageCopyright":"US imports from Asia have risen on a year-over-year basis for every month since last October. Photo credit: Chizhevskaya Ekaterina / Shutterstock.com.","__typename":"Metadata"},"ModDate":"1723793251577","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":"38","Name":"Trans-Pacific","Redirects":[{"Path":"/maritime/container-shipping-news/trans-pacific","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"JOC Staff","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1723144481000","TitlePlainText":"‘Near-record surge’ possible for US imports in August: retail group","Published":true,"Redirects":[{"Path":"/article/near-record-surge-possible-for-us-imports-in-august-retail-group-5703194","__typename":"Redirect"},{"Path":"/article/near-record-surge-possible-us-imports-august-retail-group_20240808.html","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eWith the potential for labor disruption looming at the end of September, the Global Port Tracker has again upgraded its short-term forecast for imports, saying it expects year-over-year monthly increases at least through the end of the year.\u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"With the potential for labor disruption looming at the end of September, the Global Port Tracker has again upgraded its short-term forecast for imports, saying it expects year-over-year monthly increases at least through the end of the year.","__typename":"Document"}],"isError":false,"pageType":2,"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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Free Trials - Offer Box","Description":"Subscribe Now - Free Trials - Offer Box","Body":"BLACK FRIDAY SALE: Use code BF24W25 at checkout to save 25% on any annual plan!\n","Title":"Subscribe Today","PromotionType":"OFFERBOX","ButtonLink":"https://joc.com/subscription/choose-plan?utm_source=joc\u0026utm_medium=offer_box\u0026utm__campaign=subscribe_free_trial","ButtonOpenInNewWindow":false,"ButtonText":"Save Now","CardLink":"","Icon":null,"Published":true,"PublishingStart":"1669632208841","PublishingEnd":"1735685999841","SubscriberLevel":["Silver_Free_Trial"],"CloseDelay":null,"DisplayDelay":null,"DisplayPerSession":null,"Taxonomies":[],"TargetUrls":[],"Position":null,"FeatureImageId":null,"FeatureImage":null,"__typename":"InternalPromotion"},{"Id":"eda334cb-bf98-4d50-9c50-c6626948c1c0","Name":"Upgrade Subscription - Offer Box","Description":"Upgrade Subscription - Offer Box","Body":"BLACK FRIDAY SALE: Use code BF24W695 at checkout and upgrade to Gold for just $695!","Title":"Upgrade Subscription","PromotionType":"OFFERBOX","ButtonLink":"https://joc.com/subscription/choose-plan?utm_source=joc\u0026utm_medium=offer_box\u0026utm__campaign=upgrade","ButtonOpenInNewWindow":false,"ButtonText":"Save Now","CardLink":"","Icon":null,"Published":true,"PublishingStart":"1672223948951","PublishingEnd":"1735685999951","SubscriberLevel":["Silver","Silver_Plus","Gold_Trial"],"CloseDelay":null,"DisplayDelay":null,"DisplayPerSession":null,"Taxonomies":[],"TargetUrls":[],"Position":null,"FeatureImageId":null,"FeatureImage":null,"__typename":"InternalPromotion"},{"Id":"f3a2b1e1-2dc2-45f6-b084-7114858d9124","Name":"TPM Discount - 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"}],"taxonomyTree":[{"Id":"38","Name":"Trans-Pacific","Menu":true,"MetaTitle":null,"MetaDescription":null,"JocCategories":"Trans-Pacific","CategoryDescription":null,"ParentId":"9","Redirects":[{"Path":"/maritime/container-shipping-news/trans-pacific","__typename":"Redirect"}],"Children":[],"__typename":"TaxonomyDictionary"},{"Id":"9","Name":"Container Shipping News","Menu":true,"MetaTitle":"Container Shipping News | Journal of Commerce","MetaDescription":"Container shipping news and analysis of ocean container shipping, logistics, supply chains, technology and end-to-end connectivity.","JocCategories":"Container Shipping News","CategoryDescription":"The latest container shipping news and analysis of ocean container shipping, logistics, supply chains, technology solutions and end-to-end connectivity. 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