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class="DoubleColumnContainer_wrapper__OOLmD"><div class="DoubleColumnContainer_left__v2CWC"><div class="c-page-header"><div class="c-page-header__breadcrumbs"><div class="c-breadcrumbs"><div 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 c-breadcrumbs__link--active "> container shipping news </a></div></div></div><h1 class="Heading_heading__h8IMw Heading_bold__h_y9l Heading_dark__jmb5G" style="font-size:var(--font-size-jumbo-fluid)">Container Shipping News</h1><div class="c-page-header__description"><span>Container shipping news and analysis of ocean container shipping, logistics, supply chains, technology and end-to-end connectivity.</span></div></div><div class="c-topic-links c-topic-links--layout-grid c-topic-links--border-thin"><h2 class="Heading_heading__h8IMw Heading_bold__h_y9l Heading_dark__jmb5G" style="font-size:var(--font-size-2);margin-bottom:var(--spacing-s)">Subsections</h2><ul class="c-topic-links__links"><li class="c-topic-links__link"><a href="/maritime/container-shipping-news/container-lines" class="ButtonLink_link__YfHeV" target="" style="padding:var(--spacing-s)">Container lines</a></li><li class="c-topic-links__link"><a href="/maritime/container-shipping-news/forwarding" class="ButtonLink_link__YfHeV" target="" style="padding:var(--spacing-s)">Forwarding</a></li><li class="c-topic-links__link"><a href="/maritime/container-shipping-news/trans-pacific" class="ButtonLink_link__YfHeV" target="" style="padding:var(--spacing-s)">Trans-Pacific</a></li><li class="c-topic-links__link"><a href="/maritime/container-shipping-news/trans-atlantic" class="ButtonLink_link__YfHeV" target="" style="padding:var(--spacing-s)">Trans-Atlantic</a></li><li class="c-topic-links__link"><a href="/maritime/container-shipping-news/asia-europe" class="ButtonLink_link__YfHeV" target="" style="padding:var(--spacing-s)">Asia-Europe</a></li></ul></div><h2 class="Heading_heading__h8IMw Heading_bold__h_y9l Heading_dark__jmb5G" style="font-size:var(--font-size-2)">The latest <i>Container Shipping News</i>  & Analysis</h2><div class="HorizontalCard_card__m_kFd" data-cy="horizontal-card"><a href="/article/evergreen-sets-up-transshipment-hub-in-singapore-with-psa-terminal-deal-5833725" 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/5833731_0.1.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">Evergreen sets up transshipment hub in Singapore with PSA terminal deal</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Keith Wallis, Special Correspondent | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">The agreement was set in motion by Evergreen just weeks after Singapore experienced unprecedented congestion in May and June, with vessel delays of up to 10 days.</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">Marine terminals</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/nyshex-keeps-core-vision-while-evolving-in-volatile-container-shipping-market-5833589" 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/5833574_0.1.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">NYSHEX keeps core vision while evolving in volatile container shipping market</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Peter Tirschwell | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">NYSHEX is making a renewed effort to solve the fundamental problem of ocean container supply chains, promoting the use of index-linked contracts to build contract integrity and certainty.</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">Logistics Technology News</span></span></div></a></div><div class="HorizontalCard_card__m_kFd" data-cy="horizontal-card"><a href="/article/tightening-europe-decarbonization-measures-will-raise-shipper-costs-carriers-5833489" 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/5833487_0.1.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">Tightening Europe decarbonization measures will raise shipper costs: carriers</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Greg Knowler, Senior Editor Europe | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">Carrier compliance with European regulations targeting the reduction of carbon emissions will increase in 2025, and the rising costs that result will be passed on to customers through higher surcharges, liners say.</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></div></a></div><div class="HorizontalCard_card__m_kFd" data-cy="horizontal-card"><a href="/article/asia-europe-ocean-rates-up-sharply-ahead-of-carriers-dec-1-price-hikes-5833484" 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/5833483_0.1.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">Asia-Europe ocean rates up sharply ahead of carriers’ Dec. 1 price hikes</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Greg Knowler, Senior Editor Europe | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">Average spot rate levels on the Asia to Europe trade lanes have continued to increase through November as an early start to the Lunar New Year pushes up bookings, forwarders say.</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">Asia-Europe</span></span></div></a></div><div class="HorizontalCard_card__m_kFd" data-cy="horizontal-card"><a href="/article/montreal-port-employers-union-agree-to-mediation-in-talks-for-new-contract-5824318" 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/5824289_0.1.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">Montreal port employers, union agree to mediation in talks for new contract</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Michael Angell, Senior Editor | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">The move effectively allows both sides to avoid having to agree to a deal brokered by Ottawa, as had been ordered by the country’s labor minister.</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">Marine terminals</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/smart-container-vendors-create-alliance-to-tackle-drug-smuggling-threat-5824246" 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/5824245_0.1.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">Smart container vendors create alliance to tackle drug smuggling threat</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Eric Johnson, Senior Technology Editor | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">The use cases for sensor-enabled container fleets could expand if shipping lines see such hardware as a legitimate tool to combat the threat of illicit goods movement.</div><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">Transport, Trade and Regulation 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">Port infrastructure</span></span></div></a></div><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/lack-of-consolidation-driving-freight-visibility-differentiation-competition-5821531" 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/5821526_0.1.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">Lack of consolidation driving freight visibility differentiation, competition</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Eric Johnson, Senior Technology Editor | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">A dearth of consolidation means there are still plenty of visibility vendors for shippers to choose from, but it also means the market as a whole is on somewhat unsteady ground.</div><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">Forwarding</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><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Truckload</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/cargo-push-to-continue-amid-mounting-market-pressures-zim-5821532" 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/5821540_0.1.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">Cargo push to continue amid mounting market pressures: Zim</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Laura Robb, Associate Editor and Mark Szakonyi, Executive Editor | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">The carrier’s CFO pointed to the rising ratio of US retail sales to inventories as a sign that retailers are still bringing in new inventory.</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">Maritime</span></span></div></a></div><div class="HorizontalCard_card__m_kFd" data-cy="horizontal-card"><a href="/article/nvos-eager-to-get-past-carriers-tight-grip-on-unexpectedly-favorable-market-5821309" 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/5821221_0.1.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">NVOs eager to get past carriers’ tight grip on unexpectedly favorable market</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Peter Tirschwell | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">NVOs will enter 2025 hoping that their experience this year with carriers taking a get-tough approach to their business dealings was merely cyclical, a product of an unusual market following the Red Sea diversions and an early peak season.</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">Forwarding</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/global-shippers-alliance-to-launch-pioneering-e-fuel-ocean-tender-5820605" 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/5820604_0.1.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">Global shippers’ alliance to launch pioneering e-fuel ocean tender</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Greg Knowler, Senior Editor Europe | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">The urgent creation of new e-fuel markets for the most scalable net-zero solutions is essential if global cargo owners are to achieve their 2030 and 2040 climate goals, according to ZEMBA.</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></div></a></div><div class="HorizontalCard_card__m_kFd" data-cy="horizontal-card"><a href="/article/green-ocean-corridors-hitting-feasibility-wall-global-maritime-forum-5819857" 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/5819849_0.1.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">Green ocean corridors hitting ‘feasibility wall’: Global Maritime Forum</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Greg Knowler, Senior Editor Europe | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">A lack of action at the government level is now the number one bottleneck facing green corridor projects, according to a new report.</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">Asia-Europe</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/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/gemini-says-will-use-london-gateway-for-shared-network-vessel-calls-5819415" 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/5819414_0.1.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">Gemini says will use London Gateway for shared network vessel calls</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Greg Knowler, Senior Editor Europe | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">The move comes as the DP World-operated hub is making large investments in berths and supporting infrastructure with a plan to grow its throughput and attract volumes from other UK ports, including top rival Felixstowe.</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">International ports</span></span></div></a></div><div class="HorizontalCard_card__m_kFd" data-cy="horizontal-card"><a href="/article/brazil-exports-feel-impact-of-congestion-woes-as-empty-equipment-remains-limited-5818380" 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/5818348_0.1.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">Brazil exports feel impact of congestion woes as empty equipment remains limited</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Laura Robb, Associate Editor | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">Mounting congestion brought on by peak season volumes and port construction is making it difficult for exporters in Brazil to secure empty boxes.</div><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 Shipping News</span></span></div></a></div><div class="HorizontalCard_card__m_kFd" data-cy="horizontal-card"><a href="/article/cosco-shareholders-back-22-billion-order-for-12-methanol-fueled-ships-5818358" 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/5818356_0.1.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">Cosco shareholders back $2.2 billion order for 12 methanol-fueled ships</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Keith Wallis, Special Correspondent | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">The order for the 14,000-TEU ships continues the tussle between methanol and liquefied natural gas (LNG) as the preferred fuel for the next generation of container ships.</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></div></a></div><div class="HorizontalCard_card__m_kFd" data-cy="horizontal-card"><a href="/article/hapag-lloyd-sees-possible-pre-lny-cargo-rush-amid-very-healthy-demand-5817691" 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/5817678_0.1.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">Hapag-Lloyd sees possible pre-LNY cargo rush amid ‘very healthy’ demand</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Keith Wallis, Special Correspondent | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">The carrier, which reported $1 billion in net profit for the third quarter, says the potential boost in volumes could come as US importers seek to beat the possible implementation of new tariffs on Chinese goods by the incoming Trump administration.</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></div></a></div><div class="HorizontalCard_card__m_kFd" data-cy="horizontal-card"><a href="/article/new-precedent-established-for-politics-to-drive-longshore-union-negotiations-5817574" 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/5817572_0.1.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">New precedent established for politics to drive longshore union negotiations</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Peter Tirschwell | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">While the presidential campaign is no longer a factor, the new Trump administration will likely be similarly disinterested in a strike of any significant length and, it can be assumed, will get directly involved in talks.</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">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/bc-ports-to-reopen-but-longshore-union-plans-challenge-to-back-to-work-order-5810473" 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/5810457_0.1.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">BC ports to reopen, but longshore union plans challenge to back-to-work order</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Michael Angell, Senior Editor | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">Dockworkers in British Columbia, as well as Montreal, say Labor Minister Steve MacKinnon’s order to accept binding arbitration goes against their rights under Canada’s constitution.</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">Marine terminals</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/panama-canal-chief-offers-land-bridge-option-to-transship-containers-across-isthmus-5810460" 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/5810452_0.1.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">Panama Canal chief offers land bridge option to transship containers across isthmus</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Laura Robb, Associate Editor | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">Developing an over-the-road network to handle containers carried on ships too large to traverse the waterway could increase the canal’s annual throughput by over 60%, officials say, although funding concerns exist.</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">Transport, Trade and Regulation News</span></span></div></a></div><div class="HorizontalCard_card__m_kFd" data-cy="horizontal-card"><a href="/article/evergreen-hmm-follow-peers-in-reporting-bumper-q3-profits-5810416" 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/5810412_0.1.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">Evergreen, HMM follow peers in reporting bumper Q3 profits</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Keith Wallis, Special Correspondent | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">The strong quarterly results mirror those of other carriers, including CMA CGM, Yang Ming Marine and Wan Hai Lines, which have also recently reported stellar third-quarter financials.</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></div></a></div><div class="HorizontalCard_card__m_kFd" data-cy="horizontal-card"><a href="/article/ila-breaks-off-contract-talks-accuses-usmx-of-semi-automation-push-5810392" 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/5810382_0.1.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">ILA breaks off contract talks, accuses USMX of semi-automation push</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Michael Angell, Senior Editor | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">The union representing about 45,000 dockworkers at East and Gulf coast ports says employers want to eliminate jobs by implementing semi-automated technology at marine terminals.</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">Port infrastructure</span></span><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Marine terminals</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/bc-montreal-ports-set-to-reopen-under-orders-from-canadas-labor-chief-5792214" 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/5792209_0.1.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">BC, Montreal ports set to reopen under orders from Canada’s labor chief</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Michael Angell, Senior Editor | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">Canada’s Labor Minister requires management and unions to submit to binding arbitration and orders that ports reopen after a series of strikes and lockouts effectively halted container operations across the country.</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">Marine terminals</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/yang-ming-wan-hai-see-q3-net-profit-outpace-first-half-on-demand-higher-rates-5791802" 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/5791801_0.1.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">Yang Ming, Wan Hai see Q3 net profit outpace first half on demand, higher rates</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Keith Wallis, Special Correspondent | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">Both carriers generated more in net income between July and September than the first two quarters combined, filings to the Taiwan stock exchange showed.</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></div></a></div><div class="HorizontalCard_card__m_kFd" data-cy="horizontal-card"><a href="/article/cma-cgm-does-u-turn-on-suez-canal-resumption-for-indamex-service-5791375" 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/5791372_0.1.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">CMA CGM does U-turn on Suez Canal resumption for Indamex service</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Bency Mathew, Special Correspondent | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">While there was no official word as to what caused the flip-flop on the part of the carrier, sources believe the security situation in the Red Sea remains too volatile for carriers to consider returning to the Suez route.</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></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/port-lockouts-extend-from-bc-ports-to-montreal-5790073" 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/5790070_0.1.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">Port lockouts extend from BC ports to Montreal</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Michael Angell, Senior Editor | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">Coast-to-coast work stoppages at Canadian ports have ground container operations to a halt, with port employers saying their best offers for new dockworker contracts are on the table.</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">Marine terminals</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/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/india-usec-rates-hit-four-month-low-amid-sagging-cargo-volumes-forwarders-5788729" 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/5788608_0.1.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">India-USEC rates hit four-month low amid sagging cargo volumes: forwarders</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Bency Mathew, Special Correspondent | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">Sources also noted that some recent sailings on the trade lane have had difficulty filling space at Nhava Sheva and Mundra in line with declared allocation plans.</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">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/calm-trans-atlantic-ocean-trade-shrugs-off-market-disruption-5788606" 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/5788604_0.1.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">‘Calm’ trans-Atlantic ocean trade shrugs off market disruption</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Greg Knowler, Senior Editor Europe | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">There are no signs of any rush to frontload ahead of potential tariff increases on European imports by the new US administration or to get cargo moving before a possible second strike by the ILA.</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></div></a></div><div class="HorizontalCard_card__m_kFd" data-cy="horizontal-card"><a href="/article/employer-labor-tensions-in-north-america-disrupting-more-cargo-5787466" 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/5787453_0.1.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">Employer-labor tensions in North America disrupting more cargo</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Mark Szakonyi, Executive Editor | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">The disruptions coming out of disagreements during port work contract negotiations in North America have intensified, as seen currently in Western Canada and Montreal, and possibly again on the US East and Gulf coasts come mid-January.</div><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Longshore labor</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">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/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/air-cargo-peak-season-elevates-as-chinese-export-rates-hit-2024-high-5787362" 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/5787358_0.1.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">Air cargo peak season elevates as Chinese export rates hit 2024 high</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Greg Knowler, Senior Editor Europe | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">Volume and rates on the Asian export corridors to the US and Europe have been high all year and online shopping promotions in November are further stoking the market.</div><span class="Label_label__WyZz7 Label_default__Pe_Vx"><span role="link" style="cursor:pointer">Air Cargo</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">Air Cargo Carriers 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">Forwarding</span></span></div></a></div><div class="HorizontalCard_card__m_kFd" data-cy="horizontal-card"><a href="/article/bcos-should-forsake-revenge-to-build-collaborative-relationships-with-carriers-5787246" 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/5787230_0.1.jpg"/></div><div class="HorizontalCard_content__zyMKI"><h3 class="HorizontalCard_title__ZuoCy" data-cy="title">BCOs should forsake ‘revenge’ to build ‘collaborative’ relationships with carriers</h3><div class="AuthoredLine_wrapper__GcVa2" data-cy="meta">Peter Tirschwell | </div><div class="HorizontalCard_description__PMXhF" data-cy="description">Advisors to beneficial cargo owners say mitigating future supply chain disruptions requires BCOs to proactively engage with ocean carriers and forwarders, seeking to build partnerships even if past experience suggests they end in disappointment.</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">Supply chain</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></div></a></div><div class="Paging_pagination__y72FK" data-cy="pagination"><a href="?page=0" hidden="" class="Paging_arrow__Y8Snj" data-cy="prev"><span class="material-symbols-outlined" aria-hidden="true">arrow_left_alt</span></a><ul class="Paging_items__rzvyX" data-cy="numbers"><li><a href="?page=1" class="Paging_link__Y3Yng Paging_current__x2xVC">1</a></li><li><a href="?page=2" class="Paging_link__Y3Yng">2</a></li><li><a href="?page=3" 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image","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eTaiwan’s Evergreen Marine Asia and PSA Singapore on Tuesday signed a deal to form a joint venture terminal operation that will become Evergreen’s Southeast Asia transshipment center. Evergreen said the Singapore hub will strengthen its operational efficiency and bolster the competitiveness of its fleet. \u003c/p\u003e\u003cp\u003eEvergreen will invest up to $57 million for a 49% stake in the venture, called Evergreen-PSA Terminal Ltd, the carrier said in a filing to the Taiwan stock exchange.\u003c/p\u003e\u003cp\u003eTerminal operations are expected to start by the end of this year.\u003c/p\u003e\u003cp\u003eEvergreen said the move will allow the carrier’s ships in Singapore to “obtain priority berthing rights [and] have exclusive loading and unloading resources to reduce waiting time for berthing operations.”\u003c/p\u003e\u003cp\u003eThe terminal is the first joint venture facility between Evergreen and PSA.\u003c/p\u003e\u003cp\u003e”As the company’s business expands, we are always looking for like-minded partners to build high-efficiency terminals in important locations,” Evergreen Marine Chairman Chang Yan Yi said in the statement.\u003c/p\u003e\u003cp\u003eThe deal adds to PSA Singapore’s growing stable of similar joint venture terminals with other carriers, notably Cosco Shipping, CMA CGM, HMM, Mediterranean Shipping Co. and Ocean Network Express.\u003c/p\u003e\u003cp\u003eEvergreen directors decided in August to set up a joint venture company with PSA just weeks after Singapore experienced unprecedented congestion in May and June, with vessel delays of up to eight to 10 days.\u003c/p\u003e\u003cp\u003eAt the time, Singapore’s Maritime and Port Authority (MPA) said the problems were the culmination of months of disruption as carriers curtailed or blanked services and discharged cargo in Singapore as vessels diverted around southern Africa to avoid the Red Sea. The situation was exacerbated due to strong east-west cargo volumes as shippers consigned cargo early to offset delays.\u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Keith Wallis at \u003c/i\u003e\u003ca href=\"mailto:keithwallis@hotmail.com\"\u003e\u003ci\u003ekeithwallis@hotmail.com\u003c/i\u003e\u003c/a\u003e.\u003c/p\u003e\u003c/div\u003e","Metadata":{"BylineOverwrite":null,"AuthorCompanyOrEventLink":null,"PaywallLocked":true,"FeatureImageCopyright":"Evergreen will invest up to $57 million for a 49% stake in the terminal venture with PSA Singapore. Photo credit: Felipe Sanchez / Shutterstock.com.","__typename":"Metadata"},"ModDate":"1732661411060","Taxonomy":{"MainCategory":[{"Id":"34","Name":"Container lines","Redirects":[{"Path":"/maritime/container-shipping-news/container-lines","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"AdditionalCategories":[{"Id":"43","Name":"Marine terminals","Redirects":[{"Path":"/maritime/port-news/marine-terminals","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"44","Name":"International ports","Redirects":[{"Path":"/maritime/port-news/international-ports","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"Keith Wallis, Special Correspondent","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1732657288000","TitlePlainText":"Evergreen sets up transshipment hub in Singapore with PSA terminal deal","Published":true,"Redirects":[{"Path":"/article/evergreen-sets-up-transshipment-hub-in-singapore-with-psa-terminal-deal-5833725","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eThe agreement was set in motion by Evergreen just weeks after Singapore experienced unprecedented congestion in May and June, with vessel delays of up to 10 days.\u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"The agreement was set in motion by Evergreen just weeks after Singapore experienced unprecedented congestion in May and June, with vessel delays of up to 10 days.","__typename":"Document"},{"Id":"5833589_JournalOfCommerce","Attachments":[{"FileName":"5833574_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eFrom its origins over a decade ago, NYSHEX, founded and led by Gordon Downes, has always aimed to advance a simple yet stubbornly elusive concept in container shipping: integrity of contracts. \u003c/p\u003e\u003cp\u003eIncomprehensible to outsiders, signed contracts — many pages long and vetted by lawyers — are unenforceable when confronted by the real-world forces of supply and demand and volatile pricing. \u003c/p\u003e\u003cp\u003e“The big problem that prompted us to start NYSHEX is contracts in our industry don’t perform,” Downes told the \u003ci\u003eJournal of Commerce\u003c/i\u003e. \u003c/p\u003e\u003cp\u003eIn many cases, the shipper or carrier fails to live up to the contract terms, whether that be a carrier unwilling to provide vessel space or a shipper steering cargo to other carriers or non-vessel-operating common carriers (NVOs) to obtain a lower rate, thus failing to deliver the agreed-upon volumes. \u003c/p\u003e\u003cp\u003eTriggers for failed contracts occur when spot rates deviate significantly from contract rates and carriers blank sailings or omit ports on short notice due to changes in demand, creating shortfalls in available capacity. Downes said ocean container contracts have just a 65% fulfillment rate. \u003c/p\u003e\u003cp\u003eAlthough such practices undermine trust and stress relationships to the breaking point, no scenario results in serious consequences for the offending party. Litigation or government enforcement remain rare outside of a tiny handful of highly publicized cases. \u003c/p\u003e\u003cp\u003eOriginally, NYSHEX, founded by Downes in 2015 “to solve the problem of poor contract fulfillment,” aimed to create an exchange whereby mutually committed — meaning enforceable — contracts could be executed by shippers, NVOs and carriers under full approval of the US Federal Maritime Commission (FMC) and the auspices of the NYSHEX brand. To the limited extent the market availed itself of such contracts, they worked: in the vast majority of cases, both parties lived up to what they committed to. Still, the penalties meant to ensure compliance “can put a lot of strain on relationships, especially when the spot rates are so volatile,” Downes said. \u003c/p\u003e\u003cp\u003eBut while the concept found some uptake, demand was cyclical and could not overcome at scale the market forces that, in peculiar container shipping mentality, frequently lead each side to seek near-term pricing gain, if it is to be had, at the expense of longer-term certainty of space or volumes. \u003c/p\u003e\u003cp\u003eWhether it’s an obsessively procurement-based mindset on the part of shippers in seeking to drive prices lower whenever possible, or carriers seeing better opportunities on the spot market, sacrifices in pursuit of certainty have yet to take hold on an industrywide level. \u003c/p\u003e\u003cp\u003eIf there was ever a moment for that mentality to be challenged, it was the pandemic, which showed shippers how quickly and painfully vessel space can dry up in a crisis. And yet the problem remains. \u003c/p\u003e\u003ch3\u003eNew technology and products\u003c/h3\u003e\u003cp\u003eBut NYSHEX persevered with its original vision, even if that meant applying it in new ways. The company developed technology that enables parties to monitor contract performance, drawing them into a real-time collaborative environment where issues can be identified and resolved on the spot, versus after the fact during increasingly infrequent quarterly performance reviews. In other words, if contracts can be mutually monitored in real time, the odds are better the parties will comply. \u003c/p\u003e\u003cp\u003eNow NYSHEX is delving yet further into solving the fundamental problem: promoting the use of index-linked contracts as a way to build contract integrity and certainty into ocean container supply chains. \u003c/p\u003e\u003cp\u003eIn announcing a Series C funding round last week, NYSHEX made a strong statement that there is traction in the idea, however long it may have been around. The funding round attracted participation from existing investors, including Goldman Sachs, and new ones, including the Intercontinental Exchange (NYSE:ICE), a leading exchange operator which will calculate the new indices based on actual rates paid by shippers. Other container freight rate indices tend to be based on traditional price discovery performed by analysts. It said it will launch a new series of indices and tools to administer index-linked contracts. \u003c/p\u003e\u003cp\u003eThe question, then, is whether index-linked contracts are able to move the industry forward in addressing the continuing core problem of a lack of contract integrity. \u003c/p\u003e\u003cp\u003eLinking pricing to an index means shippers’ rates face less risk of falling out of the range of prevailing rates and cargo being left behind at origin. But there is less budget certainty which clashes with annual budgeting cycles at beneficial cargo owners (BCOs). And while there are futures contracts traded, such as an active market of day traders on the Shanghai International Energy Exchange (INE China), which launched trading in a Containerized Freight Index Futures Contract in 2023, they haven’t built the liquidity or credibility to be of interest to BCO finance teams who would engage in hedging against adverse movements in ocean rates. And carriers have been outspoken about their declining interest in container freight futures. \u003c/p\u003e\u003cp\u003eIndex-linked contracts have a history of going in and out of fashion; they fell into fashion during the pandemic when shippers were desperate for space but fell out once the extremes of the disruptions were over. Also holding back index-linked contracts are shipper and carrier lawyers needing to come to agree on terms and conditions, frequently a difficult hurdle to overcome. \u003c/p\u003e\u003cp\u003eNow, amid a continuing tight market fueled by Red Sea reroutings and robust 2024 volumes, there is more talk of using index-linked contracts. But just as it was before, that could just be cyclical. \u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Peter Tirschwell at \u003c/i\u003e\u003ca href=\"mailto:peter.tirschwell@spglobal.com\"\u003e\u003ci\u003epeter.tirschwell@spglobal.com\u003c/i\u003e\u003c/a\u003e.\u003c/p\u003e\u003c/div\u003e","Metadata":{"BylineOverwrite":null,"AuthorCompanyOrEventLink":null,"PaywallLocked":true,"FeatureImageCopyright":"The COVID-19 pandemic showed shippers just how quickly and painfully vessel space can dry up in a crisis. Photo credit: GreenOak / Shutterstock.com.","__typename":"Metadata"},"ModDate":"1732654040583","Taxonomy":{"MainCategory":[{"Id":"34","Name":"Container lines","Redirects":[{"Path":"/maritime/container-shipping-news/container-lines","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"AdditionalCategories":[{"Id":"17","Name":"Logistics Technology News","Redirects":[{"Path":"/supply-chain/logistics-technology-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"Peter Tirschwell","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1732649662000","TitlePlainText":"NYSHEX keeps core vision while evolving in volatile container shipping market","Published":true,"Redirects":[{"Path":"/article/nyshex-keeps-core-vision-while-evolving-in-volatile-container-shipping-market-5833589","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eNYSHEX is making a renewed effort to solve the fundamental problem of ocean container supply chains, promoting the use of index-linked contracts to build contract integrity and certainty. \u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"NYSHEX is making a renewed effort to solve the fundamental problem of ocean container supply chains, promoting the use of index-linked contracts to build contract integrity and certainty.","__typename":"Document"},{"Id":"5833489_JournalOfCommerce","Attachments":[{"FileName":"5833487_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eCarriers are warning shippers to expect significant increases in their \u003ca href=\"https://www.joc.com/article/european-parliament-approves-shipping-ets-but-stakeholders-wary-5202492\"\u003eEmissions Trading System\u003c/a\u003e (ETS) surcharges in 2025 as the European Union carbon tax is expanded to cover 70% of all carrier emissions. \u003c/p\u003e\u003cp\u003eThe rise in ETS surcharges will come on top of the new fuel intensity regulation \u003ca href=\"https://www.joc.com/article/container-carriers-to-shoulder-bulk-of-europe-fuel-intensity-rule-5192246\"\u003eFuelEU Maritime\u003c/a\u003e that from Jan. 1 will force carriers to increase their use of more costly lower-emission fuels. \u003c/p\u003e\u003cp\u003e“We expect the ETS surcharge to roughly double due to regulatory updates,” Hapag-Lloyd told customers in an advisory Tuesday. “We will expand our existing ETS surcharge to cover the ETS enhancement as well as the costs arising from fuel bunkering for FuelEU Maritime.” \u003c/p\u003e\u003cp\u003eCMA CGM is expecting an increase of about 75% in its current ETS surcharge amounts and will publish its revised ETS surcharges on Dec. 1. \u003c/p\u003e\u003cp\u003e“Starting in 2025, the ETS regulation will evolve to account for 70% of our emissions, compared to the current 40% in 2024,” the carrier said in a recent customer advisory. “This substantial increase in the percentage of emissions covered by the ETS will have a direct impact on our cost structure.” \u003c/p\u003e\u003cp\u003eMaersk noted in a recent advisory that the cost of complying with Europe’s regulatory requirements was expected to rise significantly with the phased implementation of ETS, Fuel EU and other potential regulations from various jurisdictions in the coming years. \u003c/p\u003e\u003cp\u003e“We expect the [ETS] emission surcharge in 2025 to be nearly double that of 2024,” Maersk said. “The actual surcharge for Q1 2025 will be published in December, about 30 days before it takes effect.” \u003c/p\u003e\u003cp\u003eMaersk also noted that the price of European allowances was expected to increase due to supply cuts. \u003c/p\u003e\u003ch3\u003e‘Cap-and-trade’ principle \u003c/h3\u003e\u003cp\u003eShipping was included in the ETS from 2024 and under the “cap-and-trade” principle in which ship operators are required to buy and surrender ETS emission allowances, known as EU Allowances, for each ton of CO2 emissions reported under the scope of the system, with penalties levied for noncompliance. \u003c/p\u003e\u003cp\u003eThe ETS covers CO2 emissions of journeys starting and ending in the EU and the intra-Europe trade. Voyages that start and end at ports in the EU will be required to pay for 100% of emissions, with journeys either starting or ending in the EU required to pay for 50% of emissions. Carriers will pay for 40% of emissions in 2024, 70% in 2025 and 100% from 2026 onward. \u003c/p\u003e\u003cp\u003e“This regulation’s costs will roughly increase by 75% from this year to next, depending on the price of emission allowances,” Hapag-Lloyd said. \u003c/p\u003e\u003cp\u003eFuelEU Maritime is part of the EU’s Green Deal environmental policy that has set an intermediate green objective of cutting at least 55% of greenhouse gas (GHG) emissions by 2030, also known as “Fit for 55.” \u003c/p\u003e\u003cp\u003eFrom Jan. 1, ships trading in the European Union or European Economic Area (EEA) will need to reduce the annual average GHG intensity of energy used on board by 2% relative to a 2020 baseline, increasing gradually every five years to 80% by 2050. \u003c/p\u003e\u003cp\u003eThe regulation will apply to 100% of energy used on voyages and port calls within the EU or EEA and 50% of voyages into and out of the bloc. Vessels will be hit with a penalty of €2,400 per metric ton of fuel that fails to meet the initial 2% target in 2025. \u003c/p\u003e\u003cp\u003e“To achieve this target, we must use fuels with a lower emission footprint than traditional marine fuel, such as biofuels, within EU waters,” Hapag-Lloyd noted in the advisory. \u003c/p\u003e\u003cp\u003eSeveral carriers offer services operating on biofuel, and although they are priced at premium levels, the lower emissions allow carriers to exempt shippers from ETS surcharges. \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":"CMA CGM is expecting an increase of about 75% in its current ETS surcharge amounts next year. Photo credit: CMA CGM. ","__typename":"Metadata"},"ModDate":"1732641316900","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"}],"__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"Greg Knowler, Senior Editor Europe","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1732638734000","TitlePlainText":"Tightening Europe decarbonization measures will raise shipper costs: carriers","Published":true,"Redirects":[{"Path":"/article/tightening-europe-decarbonization-measures-will-raise-shipper-costs-carriers-5833489","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eCarrier compliance with European regulations targeting the reduction of carbon emissions will increase in 2025, and the rising costs that result will be passed on to customers through higher surcharges, liners say.\u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"Carrier compliance with European regulations targeting the reduction of carbon emissions will increase in 2025, and the rising costs that result will be passed on to customers through higher surcharges, liners say.","__typename":"Document"},{"Id":"5833484_JournalOfCommerce","Attachments":[{"FileName":"5833483_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eRate levels on the Asia to North Europe and Mediterranean ocean trades spiked this week ahead of significant rate increases to be rolled out on Dec. 1, but remain far below the pricing levels sought after by carriers. \u003c/p\u003e\u003cp\u003eOcean carriers are moving to capitalize on demand ahead of an early Lunar New Year and strengthen their negotiating positions in annual contract talks, according to forwarders. \u003c/p\u003e\u003cp\u003eIf the Dec. 1 freight-all-kinds (FAK) increases are successful, average spot rates on both Asia to North Europe and Asia-Mediterranean trade routes will increase more than 30% compared with current prices. Carriers have set Asia-North Europe FAKs at $6,300 per FEU and Asia to East and West Mediterranean rates at between $6,400 and $6,600 per FEU. \u003c/p\u003e\u003cp\u003eMarkus Panhauser, CEO of the Germany and Switzerland units at DHL Global Forwarding, said the Asia-Europe rate increases set for Dec. 1 were the result of “very strong bookings” during November and December. \u003c/p\u003e\u003cp\u003e“Several blank sailings in December are fueling the space constraints, but the main reason is the high booking volume by all industry sectors,” Panhauser told the \u003ci\u003eJournal of Commerce\u003c/i\u003e. “We see very strong bookings for January as well, therefore we believe the short-term market will see further rate increases.” \u003c/p\u003e\u003cp\u003eOther forwarders, however, had a different view of the market. \u003c/p\u003e\u003cp\u003e“We see the booking forecasts being fairly soft with no indication that the increases will stick,” said Marc Meier, managing director for Europe, Middle East and Africa/air and sea logistics at Dachser. \u003c/p\u003e\u003cp\u003eHowever, Meier noted that some carriers could be expecting disruption around the launch of the new \u003ca href=\"https://www.joc.com/article/gemini-says-will-use-london-gateway-for-shared-network-vessel-calls-5819415\"\u003eGemini Cooperation alliance between Maersk and Hapag-Lloyd\u003c/a\u003e in February. Gemini will operate a hub-and-spoke network, while at the same time Mediterranean Shipping Co. will \u003ca href=\"https://www.joc.com/article/decentralized-sourcing-plays-into-mscs-point-to-point-plans-ceo-5745884\"\u003elaunch a standalone network\u003c/a\u003e, with blank sailings, vessel delays and the carriers reshuffling fleets as they prepare for the changes. \u003c/p\u003e\u003ch3\u003eNo sign of discounted rates \u003c/h3\u003e\u003cp\u003eThe ocean freight head for a global forwarder also highlighted the restructured carrier alliances as potentially influencing rate levels, but said so far there was no evidence of discounted rates being offered to fill ships. \u003c/p\u003e\u003cp\u003e“The Gemini Cooperation between Maersk and Hapag-Lloyd will need to meet their loading targets before they launch in February and MSC will have to fill all its ships, yet the carriers are still able to raise rates,” the source said. “Still, it is giving them a good platform to take into the 2025 annual contracts on Asia-Europe.” \u003c/p\u003e\u003cp\u003eThe forwarder said the current high rate levels were leading to difficult discussions with carriers over the 2025 fixed-rate agreements, with customers balking at the high prices. \u003c/p\u003e\u003cdiv class=\"wrapper-narrow\"\u003e\u003cdynamic-object type=\"jocchartid\" resource-id=\"5ef8f3e3-3eaf-40c5-8991-7f3dcf9d47ec\"\u003e\u003c/dynamic-object\u003e\u003c/div\u003e\u003cp\u003eAverage Asia-North Europe rates this week rose to $4,700 per FEU while Asia-Mediterranean rates hit $4,900 per FEU, both routes rising $620 compared with the previous week, according to Platts, a sister company of the \u003ci\u003eJournal of Commerce\u003c/i\u003e within S\u0026amp;P Global. \u003c/p\u003e\u003cp\u003e“The outlook for Europe is not great and some of our customers are taking a wait-and-see approach in the hope that rates come down,” the global forwarder said, adding that he was surprised the carriers were able to push up rates as they prepared for the revised vessel-sharing agreements. \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":"MSC will launch its standalone global network in February. Photo credit: MSC. ","__typename":"Metadata"},"ModDate":"1732640954570","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":"37","Name":"Asia-Europe","Redirects":[{"Path":"/maritime/container-shipping-news/asia-europe","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"Greg Knowler, Senior Editor Europe","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1732637539000","TitlePlainText":"Asia-Europe ocean rates up sharply ahead of carriers’ Dec. 1 price hikes","Published":true,"Redirects":[{"Path":"/article/asia-europe-ocean-rates-up-sharply-ahead-of-carriers-dec-1-price-hikes-5833484","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eAverage spot rate levels on the Asia to Europe trade lanes have continued to increase through November as an early start to the Lunar New Year pushes up bookings, forwarders say.\u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"Average spot rate levels on the Asia to Europe trade lanes have continued to increase through November as an early start to the Lunar New Year pushes up bookings, forwarders say.","__typename":"Document"},{"Id":"5824318_JournalOfCommerce","Attachments":[{"FileName":"5824289_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eMaritime employers at the Port of Montreal will try yet again to reach a deal with dockworkers on a new contract with a mediator’s help, heading off a government-brokered deal that aims to end the coast-to-coast strife hitting Canada’s major ports. \u003c/p\u003e\u003cp\u003eThe Maritime Employers Association (MEA) said in a statement Monday that it and the Canadian Union of Public Employees (CUPE) Local 375 mutually agreed to engage in a 90-day mediation process in a bid to come to terms on \u003ca href=\"https://www.joc.com/article/canadian-shippers-urge-ottawa-to-act-as-montreal-port-talks-hit-impasse-5241393\"\u003ea new collective bargaining agreement covering 1,300 longshore workers at the port\u003c/a\u003e. \u003c/p\u003e\u003cp\u003eThe MEA said the process will be led by Gilles Charland, “an experienced mediator with a good knowledge of the industry.” \u003c/p\u003e\u003cp\u003eThe decision to engage with a mediator comes after \u003ca href=\"\"\u003eLabor Minister Steve MacKinnon ordered the MEA to end a lockout of Local 375\u003c/a\u003e stemming from \u003ca href=\"https://www.joc.com/article/bc-montreal-ports-set-to-reopen-under-orders-from-canadas-labor-chief-5792214\"\u003eits ongoing work stoppages\u003c/a\u003e. The mediation process means both sides won’t have to submit to a government-appointed arbitrator, also ordered by MacKinnon. \u003c/p\u003e\u003cp\u003eWhether mediation succeeds is far from certain, however. The MEA said last month that it has engaged in 35 mediation meetings with Local 375 since mid-2023, with no resolution. \u003c/p\u003e\u003cp\u003eMontreal’s port effectively reopened on Nov. 16 following MacKinnon’s back-to-work order. \u003c/p\u003e\u003cp\u003eMacKinnon’s order also covered the ports in British Columbia where longshore foremen have been in protracted contract talks with maritime employers over a new contract and work rules following a semi-automation project at a Vancouver-area marine terminal. \u003c/p\u003e\u003cp\u003eLocal 514 of the International Longshore and Warehouse Union, the foremen’s union, said \u003ca href=\"https://www.joc.com/article/bc-ports-to-reopen-but-longshore-union-plans-challenge-to-back-to-work-order-5810473\"\u003eit plans to challenge the constitutionality of MacKinnon’s request\u003c/a\u003e. Yet its members also followed the return-to-work order, allowing the ports of Vancouver and Prince Rupert to reopen. \u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Michael Angell at \u003c/i\u003e\u003ca href=\"mailto:michael.angell@spglobal.com\"\u003e\u003ci\u003emichael.angell@spglobal.com\u003c/i\u003e\u003c/a\u003e. \u003c/p\u003e\u003c/div\u003e","Metadata":{"BylineOverwrite":null,"AuthorCompanyOrEventLink":null,"PaywallLocked":true,"FeatureImageCopyright":"Montreal’s Maritime Employers Association has already engaged in 35 mediation sessions with its main longshore union, to no avail. Photo credit: PatrickLauzon photographe / Shutterstock.com. ","__typename":"Metadata"},"ModDate":"1732633670390","Taxonomy":{"MainCategory":[{"Id":"42","Name":"North American ports","Redirects":[{"Path":"/maritime/port-news/north-american-ports","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"AdditionalCategories":[{"Id":"9","Name":"Container Shipping News","Redirects":[{"Path":"/maritime/container-shipping-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"43","Name":"Marine terminals","Redirects":[{"Path":"/maritime/port-news/marine-terminals","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"45","Name":"Longshore labor","Redirects":[{"Path":"/maritime/port-news/longshore-labor","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"Michael Angell, Senior Editor","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1732573455000","TitlePlainText":"Montreal port employers, union agree to mediation in talks for new contract","Published":true,"Redirects":[{"Path":"/article/montreal-port-employers-union-agree-to-mediation-in-talks-for-new-contract-5824318","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eThe move effectively allows both sides to avoid having to agree to a deal brokered by Ottawa, as had been ordered by the country’s labor minister. \u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"The move effectively allows both sides to avoid having to agree to a deal brokered by Ottawa, as had been ordered by the country’s labor minister.","__typename":"Document"}],"secondSection":[{"Id":"5824246_JournalOfCommerce","Attachments":[{"FileName":"5824245_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eProviders of hardware and software that allow shipping lines to equip dry containers with sensor technology have partnered in a new alliance to combat drug smugglers using container shipping to transport cocaine from South America to Europe and North America. \u003c/p\u003e\u003cp\u003eThe alliance includes providers Traxens, Nexxiot, Hoopo, Orbcomm and GlobeTracker, all of whom already supply shipping lines with internet of things (IoT) devices installed on dry or reefer containers. \u003c/p\u003e\u003cp\u003e“This alliance aims to ensure interoperability of our solutions, enabling stakeholders such as customs, [beneficial cargo owners], and shipping lines to deploy tools immediately in the fight against smuggling and container contamination,” Traxens CEO Cedric Rosemont told the \u003ci\u003eJournal of Commerce\u003c/i\u003e. \u003c/p\u003e\u003cp\u003eSensors from Nexxiot and Orbcomm are being implemented in Hapag-Lloyd’s entire dry container fleet, while Zim Integrated Shipping Services has committed to a similar initiative with Hoopo. GlobeTracker has a number of shipping line customers for its reefer tracking hardware and Traxens provides the devices that underpin Mediterranean Shipping Co.’s on-demand service for shippers. \u003c/p\u003e\u003cp\u003eThe alliance has built upon MSC’s deployment of Traxens’ products to combat illicit trade, Rosemont said. \u003c/p\u003e\u003cp\u003eInteroperability between smart container device providers has been a key initiative, especially as different shipping lines partner with various device makers. Another provider, Sony, was chosen by Ocean Network Express (ONE) to equip its entire dry box fleet. \u003c/p\u003e\u003cp\u003eIn a white paper released this month, the alliance described how containers are increasingly being used to transport cocaine from ports in Colombia, Ecuador, Peru, Chile, Brazil and Panama through key gateways in Europe, often via transshipment in West Africa. \u003c/p\u003e\u003cp\u003eThe paper also highlighted the different methods and legitimate trades used to hide illegal drugs in containers. The banana trade, for instance, is often used as a vehicle for such illicit shipments. \u003c/p\u003e\u003cp\u003e“The goods affected by the contamination are usually the top exports from the relevant countries,” the white paper said. “For example, Ecuador ships 338,000 containers of bananas each year. In 2022, 60% of the seizures made in Ecuadorian ports were made in banana shipments, and 70% of the banana shipments inspected contained cocaine.” \u003c/p\u003e\u003cp\u003eThe most popular technique, the white paper said, involves traffickers opening a stuffed container by breaking the container seal, throwing bags of cocaine inside and putting a replica seal in place, with port workers often bribed or forced to participate while the container is waiting to be loaded. \u003c/p\u003e\u003ch3\u003e‘Full fleet’ coverage \u003c/h3\u003e\u003cp\u003eThe discussion around more container lines equipping their dry box fleets has largely been centered around the impact of carriers better managing their assets or of serving the needs of shippers with high-value goods. But additional reasons for doing so involve existing security concerns such as smuggling or the threat of future regulations, according to a November report on smart container adoption by the consultant Roland Berger \u003c/p\u003e\u003cp\u003e“Certain carriers have invested in a fleet of smart containers to combat drug trafficking, achieving notable success,” the report said. “As governments intensify efforts to combat smuggling and terrorism, it is likely that future regulations, especially in regions with heightened security concerns, will mandate the use of smart containers to ensure the safety and security of goods in transit.” \u003c/p\u003e\u003cp\u003eKey to the progression of smart container adoption is a shift that the Berger report described as going from an “equipment-on-demand” model to a “full fleet coverage” model. \u003c/p\u003e\u003cp\u003eWhen the industry reaches a critical mass around dry boxes is a source of debate. The Digital Container Shipping Association (DCSA), a nonprofit consortium founded by shipping lines to develop industry standards, has issued guidelines for interoperable smart container tracking that shipping lines can adopt. The DCSA has also worked with many of the smart container device makers to ensure shippers and forwarders can use their products in an interoperable manner. \u003c/p\u003e\u003cp\u003eAccording to shipping consultant Drewry, almost 5 million dry units will be equipped with telematics by 2028, up from approximately 2 million by the end of 2024. \u003c/p\u003e\u003cp\u003e“A single large carrier changing its smart container strategy could significantly impact the numbers,” Ferenc Pasztor, head of ports and specialized shipping research at Drewry, said in the Berger report. “The same is true regarding the physical constraints of installing devices in such high numbers.\" \u003c/p\u003e\u003cp\u003eRosemont said smart containers have already proved their efficacy in highlighting smuggling rings. \u003c/p\u003e\u003cp\u003e“Since 2022, smart containers have been instrumental in seizing over 30 tons of illicit drugs,” he said. “With expanded deployments and increased collaboration across the industry, these results could grow exponentially.” \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":"Interoperability among container tracking device platforms has been a key priority for vendors and cross-industry associations in recent years. Photo credit: hxdbzxy / Shutterstock.com.","__typename":"Metadata"},"ModDate":"1732566915513","Taxonomy":{"MainCategory":[{"Id":"17","Name":"Logistics Technology News","Redirects":[{"Path":"/supply-chain/logistics-technology-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"AdditionalCategories":[{"Id":"16","Name":"Transport, Trade and Regulation News","Redirects":[{"Path":"/supply-chain/transport-trade-and-regulation-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"34","Name":"Container lines","Redirects":[{"Path":"/maritime/container-shipping-news/container-lines","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"40","Name":"Port infrastructure","Redirects":[{"Path":"/maritime/port-news/port-infrastructure","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"Eric Johnson, Senior Technology Editor","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1732565894000","TitlePlainText":"Smart container vendors create alliance to tackle drug smuggling threat","Published":true,"Redirects":[{"Path":"/article/smart-container-vendors-create-alliance-to-tackle-drug-smuggling-threat-5824246","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eThe use cases for sensor-enabled container fleets could expand if shipping lines see such hardware as a legitimate tool to combat the threat of illicit goods movement. \u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"The use cases for sensor-enabled container fleets could expand if shipping lines see such hardware as a legitimate tool to combat the threat of illicit goods movement.","__typename":"Document"},{"Id":"5822904_JournalOfCommerce","Attachments":[{"FileName":"5822886_0.1.jpg","FileType":"FeatureImage","Title":"Feature 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":"5821531_JournalOfCommerce","Attachments":[{"FileName":"5821526_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eIt’s been more than three years since the last major consolidation within the real-time transportation visibility market, a period in which urgency from shippers around granular insights into global shipments has dampened but not disappeared. \u003c/p\u003e\u003cp\u003eNot since project44 acquired ClearMetal, Ocean Insights and Convey and FourKites acquired Haven in 2021 has there been an appreciable shrinking of the vendor list in the visibility market. Instead, standalone vendors such as Shippeo, Overhaul, Vizion, Terminal49, OpenTrack, Wakeo and Portcast all coexist alongside project44 and FourKites. \u003c/p\u003e\u003cp\u003eFor shippers, this means there is still a catalog of vendors from which to choose depending on their needs, which split along modal, geographic and predictive capabilities. That’s especially significant given that one provider estimates fewer than 20% of shippers and third-party logistics providers (3PLs) are currently using supply chain visibility technology. \u003c/p\u003e\u003cp\u003eBut it also means the visibility market as a whole is on somewhat unsteady ground; it’s unclear whether acquisitions can or will occur, or whether some providers will go under, leaving customers to find alternative data sources. \u003c/p\u003e\u003cp\u003eNearly every vendor in the sector has undertaken layoffs, executive reshuffles or both in the last two years, but they’re all still standing. That begs the question: is the current market structure sustainable, or will the category be reshaped by mergers, acquisitions or closures. \u003c/p\u003e\u003cp\u003e“The world does not need 100-plus visibility platforms, but it instead needs a few large, networked platforms per region and mode,” said Bart de Muynck, a strategic advisor to logistics technology companies, including project44, and a former analyst with Gartner who focused on the visibility market. “Just as we don’t need hundreds of telecommunications providers, but a handful of large vendors with global coverage.” \u003c/p\u003e\u003ch3\u003eA difficult M\u0026amp;A market \u003c/h3\u003e\u003cp\u003eDe Muynck, who spent 18 months as an executive with project44 until 2023, said he expects the market will consolidate, not due to acquisitions, “but smaller vendors running out of funds and leaving the market or changing their focus.” \u003c/p\u003e\u003cp\u003eThere are a few challenges facing the market in terms of consolidation. One major hurdle is the massive funding rounds that some of the largest providers took before and during the COVID-19 pandemic, investments that resulted in sky-high company valuations. \u003c/p\u003e\u003cp\u003eAs the pandemic-induced surge in freight demand — and resulting supply chain disruption — receded in the second half of 2022 and the first half of 2023, so did the market for real-time visibility. And although the market has recovered, some of those large valuations are proving difficult to justify, a dynamic made more difficult by the continued presence of multiple vendors in the market. \u003c/p\u003e\u003cp\u003eThe multitude of options for shippers also fosters competition among venders, forcing them to invest in product engineering and marketing to differentiate themselves and putting downward pressure on pricing and contract lengths. \u003c/p\u003e\u003cp\u003eCompanies with once-large valuations that are currently lower are naturally more difficult to sell because investors want a return based on the valuation in which they invested. But potential buyers are aware that other options exist in the market. Further, a potential buyer might decide that using a given visibility product makes more sense than purchasing the company that owns it, or that it could build a similar product in-house for less. \u003c/p\u003e\u003cp\u003eAll these factors are leading to market stasis. project44 is the largest provider and has the largest geographic footprint, with FourKites a close second. Paris-based Shippeo is attempting to expand into North America, building on its solid customer base in Europe. The others tend to be focused more narrowly on international transportation visibility. \u003c/p\u003e\u003ch3\u003eBest-in-breed vs. one-stop shop \u003c/h3\u003e\u003cp\u003eThe market is further clouded by the existence of other types of visibility vendors. There are hardware-focused providers that deploy devices on containers, pallets or individual products, such as Tive, Roambee, Traxens, and Nexxiot, as well as logistics software providers including Infor Nexus, E2open, Transporeon and Gnosis Freight that offer visibility as part of a broader suite of technology products. Gnosis, for example, provides visibility data to a number of other software vendors, including some real-time visibility providers. \u003c/p\u003e\u003cp\u003eOne theory for the lack of consolidation is that there actually is enough demand for all the standalone visibility providers to prosper because the pandemic recalibrated shippers’ needs for such data. \u003c/p\u003e\u003cp\u003e“Each mode of transportation has deep specificities, so today there is no ‘one size fits all,’” said Julien Cote, CEO of Wakeo. “And global organizations have different buying teams — one for intercontinental, one for local road transport in North America and one for European road transport — so the one-stop-shop approach has limitations both from a buyer and product perspective.” \u003c/p\u003e\u003cp\u003eCote said the reality that most shippers take a patchwork approach to visibility based on mode and geography is part of what’s keeping many vendors in the game. \u003c/p\u003e\u003cp\u003e“Vendors tend to coexist,” he said. “Typically, many of our customers, like Michelin, use Wakeo for all their intercontinental flows, and then locally they can be using p44 for road in North America. In the end, several companies can prosper.” \u003c/p\u003e\u003cp\u003eCote compared the current landscape to that of a transportation management system (TMS) market, where “many people thought a large player like SAP would consolidate the end-to-end supply chain. In reality, we’re far from this, and the best-of-breed approach took over the one-stop-shop play.” \u003c/p\u003e\u003cp\u003eMelding data from more than one visibility provider means shippers, or their 3PL partners, need to be adept at integrating and normalizing tracking data across modes, or use a platform that specializes in logistics data integrations. \u003c/p\u003e\u003cp\u003eThat’s not as difficult a task as it was in previous generations of logistics software. Most visibility providers already integrate with widely used TMSs, and some even plug directly into enterprise resource planning (ERP) systems so shippers can use visibility data in functional areas outside of logistics. \u003c/p\u003e\u003cp\u003e“It’s really not a big issue for clients,” Cote said. “Via APIs, they can still connect everything back to the ERP, but this means you need good IT architects and integration teams.” \u003c/p\u003e\u003ch3\u003eA problem of profitability \u003c/h3\u003e\u003cp\u003eBeyond the technical lift of combining data from multiple visibility providers, there is a sense that more vendors are good for the market. Logistics has a natural predilection for fragmentation, evidenced by the tens of thousands of 3PLs, trucking companies and software providers that serve shippers. \u003c/p\u003e\u003cp\u003e“Lack of consolidation means there’s more competition,” said Akshay Dodeja, CEO of Terminal49. “There’s more appetite to continue to innovate, to improve the quality of the data and the user experience. \u003c/p\u003e\u003cp\u003e“It’s an old industry that we’re trying to evolve and change, and it’s going to take some time,” he added. “There’s a linear increase in technology improvement instead of an exponential increase.” \u003c/p\u003e\u003cp\u003eBut competition — at least in theory — creates winners and losers, leaving the question of whether all these vendors can survive in their current forms very much unanswered. \u003c/p\u003e\u003cp\u003eFourKites told the \u003ci\u003eJournal of Commerce\u003c/i\u003e it is currently profitable, but none of the other vendors have yet to reach that milestone. With all but project44 likely too small to consider a public offering, the only viable options are to trim costs and win more business until they become profitable or find an acquirer. \u003c/p\u003e\u003cp\u003eDe Muynck said the latter would be difficult. “A lot of the functionality is not differentiated, and so there is no upside for a larger vendor to acquire a smaller vendor,” he said. \u003c/p\u003e\u003cp\u003eBrian Glick, CEO of logistics systems integrations specialist Chain.io, which is tasked with connecting many of the visibility providers to shippers’ and 3PLs’ execution systems, agreed. \u003c/p\u003e\u003cp\u003e“I don’t know why a visibility company would buy another one at this point,” he said. “The original set of acquisitions were about getting coverage for different modes and geographies. Now, it would be more about buying customer lists. I don’t think the smaller ones have a big enough reach to make their customer lists interesting enough for the big ones. I think the big ones are too highly valued to sell to each other.” \u003c/p\u003e\u003cp\u003eGlick said he also doesn’t think other software companies or 3PLs would be willing to meet current valuations to “buy a shortcut to what they’d see as a feature in their suite. If I’m [TMS provider] Blue Yonder, I’d argue that I could build any visibility provider’s functionality for a lot less than what I’d pay to buy them.” \u003c/p\u003e\u003cp\u003eAnother technical challenge to market consolidation is that previous platform combinations haven’t really helped the market concentrate. They’ve either extended the modal or geographical reach of a vendor, or added to their customer list, but the market fragmentation persisted. \u003c/p\u003e\u003cp\u003e“The multiples on our revenue or some of our competitors’ would be high enough that a project44 or FourKites, which already has these capabilities, does not have the cash to acquire other companies,” Dodeja said. “And the founders would not settle for lower multiples in a sale as long as they have money in the bank and they continue to go win in the market.” \u003c/p\u003e\u003cp\u003eDodeja said visibility providers are in “capital preservation mode” and that companies on the top end of the market no longer have the growth rate to raise huge amounts of capital needed to fund acquisitions. \u003c/p\u003e\u003cp\u003e“Raising growth equity rounds right now is effectively impossible, unless you are growing extremely fast,” he said. “And the struggle that logistics tech companies had in 2022–23, where if you look at their metrics, they might not look as appealing to a potential buyer.” \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":"One provider estimates fewer than 20% of shippers and 3PLs are currently using supply chain visibility technology. Photo credit: APChanel / Shutterstock.com.","__typename":"Metadata"},"ModDate":"1732204758613","Taxonomy":{"MainCategory":[{"Id":"17","Name":"Logistics Technology News","Redirects":[{"Path":"/supply-chain/logistics-technology-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"AdditionalCategories":[{"Id":"34","Name":"Container lines","Redirects":[{"Path":"/maritime/container-shipping-news/container-lines","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"36","Name":"Forwarding","Redirects":[{"Path":"/maritime/container-shipping-news/forwarding","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"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"},{"Id":"47","Name":"Truckload","Redirects":[{"Path":"/surface/trucking-news/truckload","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"Eric Johnson, Senior Technology Editor","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1732197600000","TitlePlainText":"Lack of consolidation driving freight visibility differentiation, competition","Published":true,"Redirects":[{"Path":"/article/lack-of-consolidation-driving-freight-visibility-differentiation-competition-5821531","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eA dearth of consolidation means there are still plenty of visibility vendors for shippers to choose from, but it also means the market as a whole is on somewhat unsteady ground. \u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"A dearth of consolidation means there are still plenty of visibility vendors for shippers to choose from, but it also means the market as a whole is on somewhat unsteady ground.","__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":"5821532_JournalOfCommerce","Attachments":[{"FileName":"5821540_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eUS import volumes are expected to remain elevated into 2025 amid cargo frontloading driven by labor and tariff concerns, officials at Zim Integrated Shipping Services said Wednesday. \u003c/p\u003e\u003cp\u003eZim CFO Xavier Destriau, during the carrier’s third-quarter conference call, pointed to the rising ratio of US retail sales to inventories, a barometer of available product, as a sign that retailers are still bringing in new inventory, meaning there likely won’t be a sharp drop in volumes early next year. \u003c/p\u003e\u003cp\u003e“We see that inventory levels as of today are not abnormal compared to normal inventory levels to be expected at this time of year,” he said. “The demand has been strong and resilient in the US, so we don’t feel too alarmed that there might be inventory buildup going on right now in the US that might bite us back in subsequent quarters into 2025.” \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, the outset of the pandemic. Destriau pointed to \u003ca href=\"https://www.joc.com/article/ila-breaks-off-contract-talks-accuses-usmx-of-semi-automation-push-5810392\"\u003eimplications of a second possible strike\u003c/a\u003e by the International Longshoremen’s Association (ILA), the \u003ca href=\"https://www.joc.com/article/us-importers-dabbling-in-frontloading-ahead-of-new-tariff-threat-5821448\"\u003efear of new US tariffs\u003c/a\u003e and general seasonality as possible accelerants for the growing inventories. \u003c/p\u003e\u003cp\u003eZim rode the market volatility to a strong performance in the third quarter, reporting its revenues jumped 117% year over year to $2.77 billion. Net income of $1.13 billion was up from a loss of $2.27 billion. Volumes moved by the carrier in the quarter increased 12% to 970,000 TEUs. \u003c/p\u003e\u003cp\u003eSome of the profitability in the third quarter was a result of the carrier having more spot capacity on hand after taking a harder line on annual service contract pricing in early 2024 by shifting the typical 50% share of spot volumes up to about 65%, Destriau said. \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 pandemic-fueled 2022, the carriers will enter an uncertain 2025 in robust financial health.\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":"Zim’s Q3 net income of $1.13 billion was up from a loss of $2.27 billion in the year-ago period. Photo credit: Daniel Wright / Shutterstock.com.","__typename":"Metadata"},"ModDate":"1732201815953","Taxonomy":{"MainCategory":[{"Id":"9","Name":"Container Shipping News","Redirects":[{"Path":"/maritime/container-shipping-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"AdditionalCategories":[{"Id":"1","Name":"Maritime","Redirects":[{"Path":"/maritime","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"Laura Robb, Associate Editor","__typename":"ConnectAuthorsValues"},{"Value":"Mark Szakonyi, Executive Editor","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1732139894000","TitlePlainText":"Cargo push to continue amid mounting market pressures: Zim","Published":true,"Redirects":[{"Path":"/article/cargo-push-to-continue-amid-mounting-market-pressures-zim-5821532","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eThe carrier’s CFO pointed to the rising ratio of US retail sales to inventories as a sign that retailers are still bringing in new inventory.\u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"The carrier’s CFO pointed to the rising ratio of US retail sales to inventories as a sign that retailers are still bringing in new inventory.","__typename":"Document"},{"Id":"5821309_JournalOfCommerce","Attachments":[{"FileName":"5821197_0.1.jpg","FileType":"Nondownloadable","Title":null,"__typename":"Attachment"},{"FileName":"5821221_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eNon-vessel-operating common carriers (NVOs) will look back on 2024 as a challenging year in two key respects: it was when carriers, seizing on an unexpectedly favorable market, got tough in demanding more spot cargo as a condition for granting contracts to NVOs’ customers, while putting further pressure on NVOs by closely monitoring their adherence to those contracts. \u003c/p\u003e\u003cdiv class=\"wrapper-narrow float-right-element\"\u003e\u003cimg src=\"/images/phoenix/5821197_0.1.jpg\"\u003e\u003c/img\u003e\u003c/div\u003e\u003cp\u003e“In 2024, ocean carriers began tightening their grip on the market,” analyst Jon Monroe wrote on Nov. 19. “They became more selective with NVOCC contracts, making ‘named account’ deals, [i.e.] contracts reserved for large, high-volume customers, harder to secure.” \u003c/p\u003e\u003cp\u003eNVOs will go into 2025 hoping that experience was merely cyclical, a product of an unusual market following the Red Sea diversions and an early peak season. For beneficial cargo owners (BCOs), the idea that NVOs are coming under pressure from carriers is relevant in terms of NVOs’ ability to access vessel space. Indeed, some BCOs have recently raised concerns to the \u003ci\u003eJournal of Commerce\u003c/i\u003e about the presence in their NVO contracts of clauses absolving the NVO if space can’t be procured. \u003c/p\u003e\u003cp\u003eUnfortunately, there is no guarantee the market will weaken in the New Year even as a glut of capacity threatens to weigh on the market. Some NVOs contacted by the \u003ci\u003eJournal of Commerce\u003c/i\u003e believe a softening is likely next year — and may already have begun. But others believe the stretch of good fortune for carriers — seen in a fully deployed fleet and still-elevated spot rates — hasn’t run its course and won’t until the Suez becomes a safe route again, whereupon capacity will pour back into the market. \u003c/p\u003e\u003cp\u003eMaersk CEO Vincent Clerc suggested as such in a recent earnings call, \u003ca href=\"https://www.joc.com/article/scrapping-slow-steaming-demand-will-limit-capacity-overhang-clerc-5785020\"\u003enoting carriers have untapped levers to forestall overcapacity\u003c/a\u003e. Maersk “highlighted that supply discipline in the form of slow steaming, blanked sailings and scrapping could emerge once the market returns to a normal level of profitability,” Parash Jain, HSBC Commercial Banking’s global head of transport and logistics research and a TPM25 speaker, wrote on Nov. 1. \u003c/p\u003e\u003ch3\u003eCarriers’ evolving positions on NVO cargo \u003c/h3\u003e\u003cp\u003eFor NVOs, as long as carriers are in control such that spot rates end up higher than contract rates, carriers will demand more spot market cargo, also called freight-all-kinds (FAK), as the price for granting NVOs’ contract, or named account rates (NAC), for their BCO customers. \u003c/p\u003e\u003cp\u003e“The ratio between nominated account rates and FAK rates varies among different carriers. However, we are observing an increasing demand for a more balanced approach as we approach 2025,” meaning carriers seeking a larger share of FAK cargo from NVOs, said Marc Meier, global head of ocean freight at Toll Global Forwarding. \u003c/p\u003e\u003cp\u003eOthers see an already softening market reflected in carriers’ evolving positions relative to NVO cargo. \u003c/p\u003e\u003cp\u003e“Carriers have taken such a policy each year during annual negotiations on NAC rates to request for at least 50-50 on NAC/FAK bookings, but when space is tighter, some even ask for 4 to 1 (FAK to NAC) to even 5 to 1 as happened in June-July of this year,” said Christian Sur, executive vice president for ocean freight/contract logistics at Unique Logistics International. “We are back to more 1 to 1 or even a better ratio to receive NAC space.” \u003c/p\u003e\u003cp\u003eOthers see it similarly, given that new tonnage deliveries will add 11% to existing capacity by the end of 2024 and another 6% next year, growth only minimally reduced by scrapping at least so far, according to S\u0026amp;P Global Market Intelligence. \u003c/p\u003e\u003cp\u003e“NVOCCs could find themselves in a more favorable position in 2025 as the market shifts and carriers face increased competition to fill excess vessel capacity,” Monroe wrote on Nov. 19. “With the surge of available capacity in the ocean freight market, carriers are likely to adopt more flexible and reasonable terms for NVOCCs in order to maintain their vessel utilization.” \u003c/p\u003e\u003ch3\u003eCarriers monitoring NVOs’ use of NAC rates \u003c/h3\u003e\u003cp\u003eCarriers’ NVO policies this year forced some NVOs to be more aggressive in scrounging up FAK cargo, often from the smaller end of the shipper market that is too small to secure contract rates. \u003c/p\u003e\u003cp\u003eBut while market cyclicality might make carriers hungry for NVO cargo, what will likely not change so fast is carriers’ increasingly sophisticated monitoring of NVOs’ use of named account rates, especially when spot rates exceed contract rates. \u003c/p\u003e\u003cp\u003eThat monitoring has disrupted longstanding practice under which NVOs — when contract rates fall below spot rates — utilize named account rates to ship multiple shippers’ cargo, not just the shipper named in the account, thereby taking advantage of lower buy rates than were available on the open market. Not anymore, as carriers have developed technology and systems enabling them to closely monitor NVO named account volumes. When they see commodities or volumes shipped beyond what was agreed in an NAC contract, or the NVO not providing agreed-upon volumes in a given month, they intervene. \u003c/p\u003e\u003cp\u003eIn a soft market, carriers may pressure NVOs less but won’t stop monitoring the volumes. That is something unlikely to change irrespective of where the market goes. \u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Peter Tirschwell at \u003c/i\u003e\u003ca href=\"mailto:peter.tirschwell@spglobal.com\"\u003e\u003ci\u003epeter.tirschwell@spglobal.com\u003c/i\u003e\u003c/a\u003e\u003ci\u003e.\u003c/i\u003e \u003c/p\u003e\u003c/div\u003e","Metadata":{"BylineOverwrite":null,"AuthorCompanyOrEventLink":null,"PaywallLocked":true,"FeatureImageCopyright":"Maersk CEO Vincent Clerc suggested during a recent earnings call that carriers have untapped levers to forestall overcapacity. Photo credit: Clearsunrise / Shutterstock.com.","__typename":"Metadata"},"ModDate":"1732120157860","Taxonomy":{"MainCategory":[{"Id":"1","Name":"Maritime","Redirects":[{"Path":"/maritime","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"AdditionalCategories":[{"Id":"34","Name":"Container lines","Redirects":[{"Path":"/maritime/container-shipping-news/container-lines","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"36","Name":"Forwarding","Redirects":[{"Path":"/maritime/container-shipping-news/forwarding","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"Peter Tirschwell","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1732113614000","TitlePlainText":"NVOs eager to get past carriers’ tight grip on unexpectedly favorable market","Published":true,"Redirects":[{"Path":"/article/nvos-eager-to-get-past-carriers-tight-grip-on-unexpectedly-favorable-market-5821309","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eNVOs will enter 2025 hoping that their experience this year with carriers taking a get-tough approach to their business dealings was merely cyclical, a product of an unusual market following the Red Sea diversions and an early peak season.\u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"NVOs will enter 2025 hoping that their experience this year with carriers taking a get-tough approach to their business dealings was merely cyclical, a product of an unusual market following the Red Sea diversions and an early peak season.","__typename":"Document"},{"Id":"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"},{"Id":"5820605_JournalOfCommerce","Attachments":[{"FileName":"5820604_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eA group of 40 global shippers has pushed the decarbonization boat further out with its second tender to ocean carriers focusing exclusively on cargo transported on e-fuel-powered container ships from 2027. \u003c/p\u003e\u003cp\u003eThe call made by the Zero Emission Maritime Buyers Alliance (ZEMBA) for offers from carriers will be launched in January, with ZEMBA increasing its ambition to fast-track the commercial deployment of green shipping services at scale to create a competitive market for those services. \u003c/p\u003e\u003cp\u003eIngrid Irigoyen, president and CEO of ZEMBA, said the alliance of shippers was voluntarily catalyzing commercial e-fuel deployment through the next collective tender. E-fuels are synthetic fuels produced using renewable electricity and include e-methanol and biomethane, a cleaner version of liquefied natural gas (LNG). \u003c/p\u003e\u003cp\u003e“Our members are demonstrating that freight buyers are willing to make multi-year advanced offtake commitments now to incentivize the creation of new markets for the most scalable solutions, which will be required for them to achieve their 2030 and 2040 climate goals,” Irigoyen said in a statement announcing the tender. \u003c/p\u003e\u003cp\u003e“By creating economies of scale and targeting investment in the right long-term solutions, our members can also accelerate the pace and manage overall costs of this clean energy transition,” she added. \u003c/p\u003e\u003cp\u003e\u003ca href=\"https://www.joc.com/article/hapag-lloyd-wins-asia-europe-green-shipping-tender-to-launch-next-year-5240949\"\u003eHapag-Lloyd in April was awarded ZEMBA’s inaugural tender\u003c/a\u003e for the zero-emission shipment of containers from Singapore to Rotterdam that will cover 1.2 billion TEU-miles over a two-year period beginning in 2025. \u003c/p\u003e\u003cp\u003eThrough the latest tender, ZEMBA is aiming to compile a minimum of 80 billion metric ton nautical miles of demand for emissions reductions linked to container shipping powered by e-fuels starting in 2027. That would equate to 1.4 million 20-foot containers transported across the Pacific Ocean by e-fuels, assuming a benchmark distance of Shanghai to Los Angeles. \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\u003eZEMBA’s e-fuel focus for the upcoming tender builds off experience gained during the inaugural tender that introduced a new very-low-emission fuel alternative to freight buyers in the maritime sector — liquified biomethane from waste. The group is seeking three- to five-year contracts for e-fuel-powered container shipping starting in 2027, e-fuel bids that achieve at least 90% emission reduction for primary propulsion, and bids from individual ocean carriers or consortiums, with ZEMBA being open to the possibility of multiple winners. \u003c/p\u003e\u003ch3\u003eReport card slams retail decarbonization efforts \u003c/h3\u003e\u003cp\u003eBut with the ink not yet dry on the ZEMBA statement, climate and public health coalition Ship It Zero released a damning 2024 report card Tuesday grading more than two dozen retailers and ocean carriers on their efforts to decarbonize and develop zero-emission fuels for maritime shipping. \u003c/p\u003e\u003cp\u003eThe report will make for uncomfortable reading for some of the world’s largest retailers, with Amazon, one of ZEMBA’s founding members, labeled as the “prime polluter.” Ship It Zero data from 2019 to 2023 shows Amazon’s maritime emissions increased 26% over the five years, its US air freight pollution was up 67%, delivery van carbon dioxide emissions grew over 190% and its heavy-duty truck emissions rose 51%. \u003c/p\u003e\u003cp\u003e“IKEA, LG, Samsung, Home Depot and Amazon wield tremendous power and influence to shape the future of zero-emission shipping, but a year after our last report card, most retailers, with the exception of IKEA, are failing,” said Ship It Zero campaign manager Jonathan Butler. \u003c/p\u003e\u003cp\u003e“We need these companies to clean up their shipping act and commit to 100% zero-emission ocean shipping by 2030, and we call on IKEA to lead its industry peers towards a zero-emission future,” he added. \u003c/p\u003e\u003cp\u003eThe Ship It Zero report noted that Home Depot has not joined the Cargo Owners for Zero Emission Shipping (coZEV) initiative or ZEMBA, two organizations designed to bring companies together to innovate and invest in solutions for the reduction of maritime shipping emissions. \u003c/p\u003e\u003cp\u003e“Home Depot’s absence from these initiatives demonstrates a concerning lack of commitment to investing in zero-emission maritime shipping solutions and to mobilizing its industry peers to raise climate ambitions,” said Ship It Zero. \u003c/p\u003e\u003cp\u003eOther retailers categorized as being “at risk of failure” in their decarbonization efforts were LG and Samsung. \u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Greg Knowler at \u003c/i\u003e\u003ca href=\"mailto:greg.knowler@spglobal.com\"\u003e\u003ci\u003egreg.knowler@spglobal.com\u003c/i\u003e\u003c/a\u003e\u003ci\u003e.\u003c/i\u003e \u003c/p\u003e\u003c/div\u003e","Metadata":{"BylineOverwrite":null,"AuthorCompanyOrEventLink":null,"PaywallLocked":true,"FeatureImageCopyright":"Hapag-Lloyd was awarded the inaugural ZEMBA tender for the zero-emission shipment of containers from Singapore to Rotterdam. Photo credit: Hapag-Lloyd.","__typename":"Metadata"},"ModDate":"1732039635940","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"}],"__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"Greg Knowler, Senior Editor Europe","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1732031473000","TitlePlainText":"Global shippers’ alliance to launch pioneering e-fuel ocean tender","Published":true,"Redirects":[{"Path":"/article/global-shippers-alliance-to-launch-pioneering-e-fuel-ocean-tender-5820605","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eThe urgent creation of new e-fuel markets for the most scalable net-zero solutions is essential if global cargo owners are to achieve their 2030 and 2040 climate goals, according to ZEMBA.\u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"The urgent creation of new e-fuel markets for the most scalable net-zero solutions is essential if global cargo owners are to achieve their 2030 and 2040 climate goals, according to ZEMBA.","__typename":"Document"},{"Id":"5819857_JournalOfCommerce","Attachments":[{"FileName":"5819849_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eGreen ocean corridors crucial to decarbonizing container shipping have grown rapidly over the past year, but the continued development of these trade routes is facing a “feasibility wall” in the absence of national policy incentives to narrow the cost gap between fossil fuels and cleaner alternatives, according to a new report. \u003c/p\u003e\u003cp\u003eThe Annual Progress Report on Green Shipping Corridors 2024, published Tuesday by the Getting to Zero Coalition and the Global Maritime Forum, said this lack of action at the government level was now the number one bottleneck facing green corridor projects. \u003c/p\u003e\u003cp\u003e“Green shipping corridors have an essential role to play in accelerating zero-emission shipping,” Jesse Fahnestock, director of decarbonization at the Global Maritime Forum, said in a statement. “This year saw a handful of advanced corridors setting the pace, but continued progress is not inevitable.” \u003c/p\u003e\u003cp\u003eThe warning comes as shipping’s greenhouse gas emissions return to the peak levels seen in 2008. Longer voyages around southern Africa to avoid ongoing hostilities in the Red Sea, spiralling freight rates and congestion across ocean container supply chains led to record-high carbon emissions in the third quarter, according to rate benchmarking platform Xeneta. \u003c/p\u003e\u003cp\u003eThe Marine Benchmark Carbon Emissions Index (CEI), which measures carbon emissions across Xeneta’s top 13 ocean container shipping trades, hit 107.9 points in the third quarter — the highest on record and up 12.2% compared with a year ago before the Red Sea crisis. \u003c/p\u003e\u003cp\u003eThe Global Maritime Forum report said 18 new green shipping corridor initiatives emerged worldwide in 2024, a 40% increase over 2023, with a third of the existing initiatives making “significant, measurable progress” in the past year. \u003c/p\u003e\u003ch3\u003eAfrica diversions frustrate emissions cuts \u003c/h3\u003e\u003cp\u003eOne of the largest of those green corridor projects connects the hubs of Rotterdam and Singapore, and even though the forced diversions around Africa are frustrating the drive to reduce shipping emissions, work continues on cleaning up the Asia-Europe trade route. \u003c/p\u003e\u003cp\u003eThe \u003ca href=\"https://www.joc.com/article/singapore-rotterdam-ports-commit-to-green-corridor-deal-5242711\"\u003eRotterdam-Singapore Green and Digital Shipping Corridor\u003c/a\u003e aims to reduce emissions from large container vessels on the 15,000-km route by at least 20% by 2030 by enabling the use of low- and zero-carbon shipping fuels. It is a project with 25 partners operating more than 90 large container vessels on the route with a combined transport capacity of 1.5 million TEUs per year. \u003c/p\u003e\u003cp\u003eHowever, a recent Port of Rotterdam report said without urgent government initiatives to address the wide price gap between fossil fuels and low- or zero-emission fuels, there would not be the level of commitment needed from carriers and fuel producers, slowing the development of the green corridors. \u003c/p\u003e\u003cp\u003e“Sustainable fuels are estimated to be two to three times more expensive than fossil fuels and could account for a significant portion of the total cost of ownership for container vessels,” the report noted. \u003c/p\u003e\u003cp\u003e“This makes it difficult for shipping companies to commit to long-term offtake agreements, thereby hampering investments from suppliers in new production facilities,” it added. \u003c/p\u003e\u003cp\u003eMaersk recently estimated that even with current regulatory tools in place such as the \u003ca href=\"https://www.joc.com/article/european-parliament-approves-shipping-ets-but-stakeholders-wary-5202492\"\u003eEuropean Union’s Emissions 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, only by the mid-2030s would it be more expensive to use fossil fuels on ships rather than green fuels. \u003c/p\u003e\u003cdiv class=\"wrapper-narrow\"\u003e\u003cdynamic-object type=\"jocchartid\" resource-id=\"321b8a55-a7c4-47b5-91e8-82ca9eb8c88a\"\u003e\u003c/dynamic-object\u003e\u003c/div\u003e\u003cp\u003eMember states of the International Maritime Organization (IMO) are working on \u003ca href=\"https://www.joc.com/article/midterm-emissions-plan-to-take-center-stage-at-upcoming-imo-meeting-5731399\"\u003ereaching an agreement on the proposed midterm measures\u003c/a\u003e involving a carbon pricing mechanism and the establishment of a fuel standard that must be approved at the MEPC 83 meeting in April 2025 if they are to be adopted in October next year. \u003c/p\u003e\u003ch3\u003eGreen trade lanes central to decarbonization \u003c/h3\u003e\u003cp\u003eThe concept of green corridors was established in November 2021 as a critical way to scale new sustainable fuels and technologies. They are regarded as being central to delivering the goal of having zero-emission fuels account for 5% of all fuels by 2030, a target considered to be the threshold at which the infrastructure, supply chains, and technologies that support zero-emission fuels are mature enough to enable exponential growth. \u003c/p\u003e\u003cp\u003eFahnestock said if industry and national governments made a concerted effort to share the costs and risks associated with new fuels, “these leading corridors could together generate a breakthrough for zero-emission shipping before 2030.” \u003c/p\u003e\u003cp\u003eBut if green corridors fail to continue advancing, the report said the 5% target that could potentially jeopardize the industry’s entire 2050 net-zero goal will be at risk. \u003c/p\u003e\u003cp\u003e“With shipping providing the backbone for global trade, failing to meet the sector’s decarbonization targets could have significant implications for Scope 3 emissions reductions across all sectors,” the report noted. \u003c/p\u003e\u003cp\u003eThe report identified key recommendations for the continued development of green corridors. On top of increased government support to bridge the operational cost gap of transitioning to alternative energy sources, the report said innovative commercial agreements for procurement within green corridor initiatives could be developed. Also recommended was more focused support on existing green corridor initiatives, a flexible governance approach to allow for risk sharing and scaling, as well as policy and finance to promote green corridors in the southern hemisphere’s weaker economies. \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":"Longer voyages around Africa to avoid the Red Sea have caused shipping’s emissions to return to the peak levels seen in 2008. Photo credit: Igor Grochev / Shutterstock.com.","__typename":"Metadata"},"ModDate":"1731964875097","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":"37","Name":"Asia-Europe","Redirects":[{"Path":"/maritime/container-shipping-news/asia-europe","__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":"Greg Knowler, Senior Editor Europe","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1731974400000","TitlePlainText":"Green ocean corridors hitting ‘feasibility wall’: Global Maritime Forum","Published":true,"Redirects":[{"Path":"/article/green-ocean-corridors-hitting-feasibility-wall-global-maritime-forum-5819857","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eA lack of action at the government level is now the number one bottleneck facing green corridor projects, according to a new report.\u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"A lack of action at the government level is now the number one bottleneck facing green corridor projects, according to a new report.","__typename":"Document"},{"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":"5819415_JournalOfCommerce","Attachments":[{"FileName":"5819414_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eDP World’s London Gateway opened a £350 million ($442 million) all-electric fourth berth last week, the latest step in a six-berth plan to overtake Felixstowe as the UK’s largest container port in the next five years. \u003c/p\u003e\u003cp\u003eBut the title of largest UK port is not the only thing London Gateway plans to take from Felixstowe. In a review of the Gemini Cooperation’s port network published in a customer advisory Monday, members Maersk and Hapag-Lloyd said they have decided that vessels in the shared network will call at London Gateway instead of Felixstowe when the new alliance launches in February. \u003c/p\u003e\u003cp\u003e“During this optimization process and our review of the Asia-Europe services, we have concluded that London Gateway is the most optimal port to serve our customers importing/exporting cargo to and from the UK,” Maersk noted in the advisory. \u003c/p\u003e\u003cp\u003eFelixstowe, operated by Hong Kong’s Hutchison Port Holdings, handles more than 4 million TEUs a year, while 2.9 million TEUs crossed the London Gateway wharves last year. \u003c/p\u003e\u003cp\u003eFelixstowe was originally meant to receive three of Gemini’s four Asia-North Europe loops, but Maersk said the new decision for the services to call at London Gateway was a strategic move to reduce network complexity with mostly single operator loops and fewer port calls per service, and was aimed at improving reliability, reach and speed for customers. \u003c/p\u003e\u003cp\u003e“Due to this change, Felixstowe will not be a part of Maersk and Hapag-Lloyd’s shared Gemini network,” the carrier said. \u003c/p\u003e\u003cp\u003eMaersk currently has four calls at Felixstowe outside its existing 2M Alliance with Mediterranean Shipping Co. that will not be affected by the launch of Gemini. \u003c/p\u003e\u003cp\u003eThe launch of the new 430-meter berth at London Gateway, which DP World said will increase handling capacity at the port by about 1 million TEUs annually, comes after $1.3 billion in fresh investment into its London Gateway operation was briefly threatened last month when the UK Transport Secretary criticized the March 2022 sacking of nearly 800 sea staff by DP World subsidiary P\u0026amp;O Ferries. \u003c/p\u003e\u003cp\u003eDP World group Chairman and CEO Sultan Ahmed bin Sulayem immediately canceled a scheduled announcement of the $1.3 billion investment and ordered a review of the London Gateway expansion plans. He later reversed his decision after a flurry of phone calls between DP World and senior British government officials. \u003c/p\u003e\u003ch3\u003eA pointed message \u003c/h3\u003e\u003cp\u003eIn what appears to be a pointed message to the UK government, Ernst Schulze, DP World UK CEO for ports and terminals, placed a heavy emphasis on the scale of the investment being made into London Gateway. \u003c/p\u003e\u003cp\u003e“We have already invested more than £2 billion ($2.5 billion) in the building of our modern and efficient facility at London Gateway in the last decade, connecting the UK with global supply chains and export markets,” he said. \u003c/p\u003e\u003cp\u003e“This new berth, alongside our £1 billion [$1.3 billion] investment in the fifth and sixth berths, will further enable us to service the largest vessels in operation worldwide today, and the larger, future megaships currently under construction, while also advancing our goal to be net-zero by 2050,” Schulze noted, adding that the all-electric berth has also added 200 new permanent jobs to the port. \u003c/p\u003e\u003cp\u003eLondon Gateway is located on the River Thames estuary about 30 miles east of London. The new berth will operate alongside the London Gateway Logistics Park, which has 9.25 million square feet of warehousing capacity, half of which is already developed, and multimodal connectivity to domestic and international road and rail networks. \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 Gemini Cooperation of Maersk and Hapag-Lloyd will call at London Gateway (pictured) when it launches in February. Photo credit: Terry Kent / Shutterstock.com.","__typename":"Metadata"},"ModDate":"1732115775463","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":"44","Name":"International ports","Redirects":[{"Path":"/maritime/port-news/international-ports","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"Greg Knowler, Senior Editor Europe","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1731953233000","TitlePlainText":"Gemini says will use London Gateway for shared network vessel calls","Published":true,"Redirects":[{"Path":"/article/gemini-says-will-use-london-gateway-for-shared-network-vessel-calls-5819415","__typename":"Redirect"},{"Path":"/article/london-gateway-lands-gemini-calls-from-rival-port-amid-bid-for-top-uk-spot-5819415","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eThe move comes as the DP World-operated hub is making large investments in berths and supporting infrastructure with a plan to grow its throughput and attract volumes from other UK ports, including top rival Felixstowe. \u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"The move comes as the DP World-operated hub is making large investments in berths and supporting infrastructure with a plan to grow its throughput and attract volumes from other UK ports, including top rival Felixstowe.","__typename":"Document"},{"Id":"5818380_JournalOfCommerce","Attachments":[{"FileName":"5818348_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eKey ports in Brazil are facing tightened capacity at the tail end of peak season, resulting in skipped calls, rerouted cargo and mounting vessel congestion. And as those ports work to clear the congestion, exporters are struggling to secure empty containers. \u003c/p\u003e\u003cp\u003eSeveral sources said the Port of Santos has hit its operational capacity, forcing some ships to miss narrow berthing windows. Other vessels have opted to omit Santos entirely, as shippers report cargo rolls. \u003c/p\u003e\u003cp\u003eBrazil exports are facing the brunt of the woes, sources say. As dockworkers are kept busy clearing the backlog, returning empties to exporters has taken a backseat. \u003c/p\u003e\u003cp\u003e“It’s too busy and trucks are not being able to book the empties to return,” said a freight forwarder in Brazil. \u003c/p\u003e\u003cp\u003eSources said 20-foot containers, which are often used for sugar and other specialty commodities, are especially sparse. \u003c/p\u003e\u003cp\u003ePlatts, a sister company of the \u003ci\u003eJournal of Commerce\u003c/i\u003e within S\u0026amp;P Global, pegged the spot rate for Brazil exports to the US Gulf Coast at $5,800 per FEU as of Nov. 14, maintaining the record high it achieved almost a month ago and up from $1,800 per FEU in mid-June. \u003c/p\u003e\u003ch3\u003eCongestion hurdles \u003c/h3\u003e\u003cp\u003eSeveral terminals in Santos have expanded their berthing areas to accommodate the increased demand. Santos had 10 vessels anchored outside the port as of Nov. 14, down from 14 on Nov. 12, according to AIS Live, a sister product of the \u003ci\u003eJournal of Commerce\u003c/i\u003e within S\u0026amp;P Global. \u003c/p\u003e\u003cp\u003eThe congestion issues at Santos have been exacerbated by construction at other ports. \u003c/p\u003e\u003cp\u003e“Navegantes is under renovation and a bit chaotic now,” said the freight forwarder source. “Itapoa is congested as well, so the vessels redirected to Santos are creating [a] domino effect.” \u003c/p\u003e\u003cp\u003eThe root of the congestion is largely attributed to increased import volumes associated with peak season. Still, the Port of Itajai has been able to absorb some of the cargo. Despite the increased volumes and tightened operating capacity, there is still vessel space available on ships from Asia and North America bound for Brazil. \u003c/p\u003e\u003cp\u003eAs of Nov. 14, Itajai had three ships anchored outside the port, while Itapoa had two. Navegantes did not have any ships anchored. \u003c/p\u003e\u003cp\u003eThe slowdowns in Brazil come in the wake of some earlier peak season \u003ca href=\"https://www.joc.com/article/north-south-trade-facing-schedule-woes-congestion-in-wake-of-ila-strike-5772068\"\u003eschedule interruptions made worse by vessel bunching\u003c/a\u003e caused by the early October strike at ports along the US East and Gulf coasts. \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":"Some terminals in Brazil have expanded berthing areas to better manage vessel congestion. Photo credit: Erich Sacco / Shutterstock.com.","__typename":"Metadata"},"ModDate":"1731696135653","Taxonomy":{"MainCategory":[{"Id":"10","Name":"Port News","Redirects":[{"Path":"/maritime/port-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"AdditionalCategories":[{"Id":"9","Name":"Container Shipping News","Redirects":[{"Path":"/maritime/container-shipping-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"Laura Robb, Associate Editor","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1731693771000","TitlePlainText":"Brazil exports feel impact of congestion woes as empty equipment remains limited","Published":true,"Redirects":[{"Path":"/article/brazil-exports-feel-impact-of-congestion-woes-as-empty-equipment-remains-limited-5818380","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eMounting congestion brought on by peak season volumes and port construction is making it difficult for exporters in Brazil to secure empty boxes.\u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"Mounting congestion brought on by peak season volumes and port construction is making it difficult for exporters in Brazil to secure empty boxes.","__typename":"Document"},{"Id":"5818358_JournalOfCommerce","Attachments":[{"FileName":"5818356_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eCosco Shipping Holdings is backing continued investment in methanol-fueled container ships after shareholders this week approved a $2.2 billion deal for 12 14,000-TEU dual-fuel vessels for delivery beginning in 2027. \u003c/p\u003e\u003cp\u003eCosco said in a statement the vessels “are well-suited for a wide range of routes, which could better meet the increasingly diverse transportation needs of our customers.” \u003c/p\u003e\u003cp\u003eContracts for the Cosco newbuild program — codenamed “Cosco Mercury” in company documents — have been placed with affiliated shipyard Cosco Shipping Heavy Industry (Yangzhou) in eastern China’s Jiangsu province. The ships will be delivered between May 2027 and March 2029, according to British shipbroking house Clarksons. \u003c/p\u003e\u003cp\u003eCosco Shipping said the order is part of its efforts to invest in clean energy-powered vessels either through orders for new ships or upgrading existing vessels to use cleaner fuels. The company operates 510 container ships totaling 3.3 million TEUs in capacity. \u003c/p\u003e\u003cp\u003eThe carrier said in May that it was upgrading four 16,180-TEU container ships now under construction at Cosco Shipping Heavy Industry (Yangzhou) from single-fuel to dual-fuel methanol power. \u003c/p\u003e\u003cdiv class=\"wrapper-narrow\"\u003e\u003cdynamic-object type=\"jocchartid\" resource-id=\"9a6c3727-a34d-4589-aa4a-e7d495b101d4\"\u003e\u003c/dynamic-object\u003e\u003c/div\u003e\u003cp\u003eThe latest order from Cosco continues the tussle between methanol and liquefied natural gas (LNG) as the preferred fuel for the next generation of container ships. \u003c/p\u003e\u003cp\u003eHapag-Lloyd last week \u003ca href=\"https://www.joc.com/article/hapag-lloyd-makes-4-billion-move-down-lng-path-with-24-ship-dual-fuel-order-5787368\"\u003eannounced its ongoing preference for LNG-powered vessels\u003c/a\u003e with a $4 billion order for 12 9,200-TEU and 12 16,800-TEU ships, the latter dubbed its “new workhorses.” \u003c/p\u003e\u003cp\u003eLNG has taken the lead over methanol as the preferred fuel by carriers ordering new container ships this year, reversing last year’s preference for methanol-fueled ships, according to data from Sea-web, a sister company of the \u003ci\u003eJournal of Commerce\u003c/i\u003e within S\u0026amp;P Global. \u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Keith Wallis at \u003c/i\u003e\u003ca href=\"mailto:keithwallis@hotmail.com\"\u003e\u003ci\u003ekeithwallis@hotmail.com\u003c/i\u003e\u003c/a\u003e\u003ci\u003e.\u003c/i\u003e \u003c/p\u003e\u003c/div\u003e","Metadata":{"BylineOverwrite":null,"AuthorCompanyOrEventLink":null,"PaywallLocked":true,"FeatureImageCopyright":"Cosco’s latest order of ships will be delivered between May 2027 and March 2029, according to British shipbroking house Clarksons. Photo credit: Sheila Fitzgerald / Shutterstock.com.","__typename":"Metadata"},"ModDate":"1731695414483","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"}],"__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"Keith Wallis, Special Correspondent","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1731692954000","TitlePlainText":"Cosco shareholders back $2.2 billion order for 12 methanol-fueled ships","Published":true,"Redirects":[{"Path":"/article/cosco-shareholders-back-22-billion-order-for-12-methanol-fueled-ships-5818358","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eThe order for the 14,000-TEU ships continues the tussle between methanol and liquefied natural gas (LNG) as the preferred fuel for the next generation of container ships.\u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"The order for the 14,000-TEU ships continues the tussle between methanol and liquefied natural gas (LNG) as the preferred fuel for the next generation of container ships.","__typename":"Document"},{"Id":"5817691_JournalOfCommerce","Attachments":[{"FileName":"5817678_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eHapag-Lloyd could see a cargo rush ahead of the Lunar New Year holidays in January partly due to shippers seeking to beat the possible imposition of new and increased US tariffs on Chinese products by the incoming Trump administration, its CEO said Thursday. \u003c/p\u003e\u003cp\u003eThat comes as demand remains strong in the fourth quarter, although Q4 profitability is set to slide compared with the carrier’s highly profitable third quarter, it said. \u003c/p\u003e\u003cp\u003e“That we’re going to see a little bit of a rush going into Chinese New Year, I would certainly not rule it out,” Hapag-Lloyd CEO Rolf Habben Jansen said in an online briefing after the carrier released its third-quarter earnings. He said it was too soon to tell how big the potential boost in volumes could be. \u003c/p\u003e\u003cp\u003eHabben Jansen said cargo demand returned quickly after the October holidays in China and was currently “robust.” \u003c/p\u003e\u003cp\u003e“But how much of that is pre-loading, is difficult to judge,” he said. “We see, at the moment, demand is very healthy.” \u003c/p\u003e\u003cp\u003eThe CEO indicated that increased demand ahead of the Lunar New Year holiday would most likely have a positive impact on short-term freight rates. The Lunar New Year holiday starts on Jan. 29, just over a week after Donald Trump is inaugurated as the US president. \u003c/p\u003e\u003cp\u003eHabben Jansen thought the introduction of more tariffs by the US could cause a further shift in trade flows, as happened during the first Trump administration in 2017–21 when manufacturers moved some production away from China. \u003c/p\u003e\u003cp\u003e“I would not be surprised if there was going to be something similar this time,” he said. “I’m cautiously optimistic that in the end trade flows may change, but we’ll hopefully still see fairly decent global trade. If we want to grow wealth around the world, it’s important we have free trade.” \u003c/p\u003e\u003cp\u003eHapag-Lloyd is currently forecasting cargo demand growth of 3% next year. \u003c/p\u003e\u003cp\u003eHabben Jansen said Hapag-Lloyd is not yet preparing for the possibility of renewed industrial action by dockworkers at ports on the US East and Gulf coasts when the current extended contract between the United States Maritime Alliance (USMX) and the International Longshoremen’s Association expires on Jan. 15. \u003c/p\u003e\u003cp\u003e“I would still hope an amicable agreement is ... reached between USMX and the ILA,” he said. \u003c/p\u003e\u003cp\u003eThe ILA \u003ca href=\"https://www.joc.com/article/ila-breaks-off-contract-talks-accuses-usmx-of-semi-automation-push-5810392\"\u003eon Wednesday broke off talks with the USMX\u003c/a\u003e scheduled for this week after it said maritime employers continued to push for automation and semi-automation in its proposed master contract in a move the ILA claimed would eliminate longshore jobs. \u003c/p\u003e\u003cp\u003eHabben Jansen, meanwhile, confirmed that Gemini Cooperation, its coming alliance with Maersk, would open for cargo bookings in two weeks as it prepares for a Feb. 1 launch. \u003c/p\u003e\u003cp\u003eHe said while Hapag-Lloyd has signed up “a bit more volume” for next year from Asia to Europe in the current ongoing contract negotiations with shippers, it was “way too early to draw any conclusions” whether Gemini was responsible. \u003c/p\u003e\u003cp\u003eGemini hopes to grow its market share partly on the basis of having improved schedule reliability by having fewer port pairings, Habben Jansen added. \u003c/p\u003e\u003cp\u003e“I would expect because of higher schedule reliability and better predictability in the supply chain people might be willing to pay a bit more,” he said. “But of course, we first need to implement that and demonstrate that schedule reliability week in, week out.” \u003c/p\u003e\u003ch3\u003eQ3 net profit soars \u003c/h3\u003e\u003cp\u003eHabben Jansen’s comments came after Hapag-Lloyd said third-quarter net profit surged 256% to $1 billion, up from $293 million in the prior year period. The quarterly figure was also 32% higher than the total $792 million in net profit reported for the first half of the year. \u003c/p\u003e\u003cp\u003eBut indicating lower earnings in the fourth quarter despite robust demand, the carrier estimated earnings before interest and taxes (EBIT) of between $460 million and $861 million for the fourth quarter based on full-year forecasts. \u003c/p\u003e\u003cp\u003eJefferies Equity Research said the carrier’s third-quarter results were in line with expectations. \u003c/p\u003e\u003cp\u003e”Hapag-Lloyd is in solid shape financially and benefiting from a strong underlying freight market,” Jefferies said in a research note Thursday. \u003c/p\u003e\u003cp\u003eHapag-Lloyd said group revenue climbed to $5.8 billion in the third quarter, up 29% from $4.5 billion a year earlier. That was driven by a 23% increase in average revenue per TEU, to $1,612 per TEU, plus a 3.8% increase in liftings to 3.2 million TEUs, fueled by volume gains on the trans-Pacific, trans-Atlantic and Far East trades. \u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Keith Wallis at \u003c/i\u003e\u003ca href=\"mailto:keithwallis@hotmail.com\"\u003e\u003ci\u003ekeithwallis@hotmail.com\u003c/i\u003e\u003c/a\u003e\u003ci\u003e.\u003c/i\u003e \u003c/p\u003e\u003c/div\u003e","Metadata":{"BylineOverwrite":null,"AuthorCompanyOrEventLink":null,"PaywallLocked":true,"FeatureImageCopyright":"Hapag-Lloyd is in “solid shape financially and benefiting from a strong underlying freight market,” Jefferies Equity Research said Thursday. Photo credit: MartinLueke / Shutterstock.com.","__typename":"Metadata"},"ModDate":"1731617114317","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"}],"__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"Keith Wallis, Special Correspondent","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1731612674000","TitlePlainText":"Hapag-Lloyd sees possible pre-LNY cargo rush amid ‘very healthy’ demand","Published":true,"Redirects":[{"Path":"/article/hapag-lloyd-sees-possible-pre-lny-cargo-rush-amid-very-healthy-demand-5817691","__typename":"Redirect"},{"Path":"/article/hapag-lloyd-sees-possible-pre-cny-cargo-rush-amid-very-healthy-demand-5817691","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eThe carrier, which reported $1 billion in net profit for the third quarter, says the potential boost in volumes could come as US importers seek to beat the possible implementation of new tariffs on Chinese goods by the incoming Trump administration.\u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"The carrier, which reported $1 billion in net profit for the third quarter, says the potential boost in volumes could come as US importers seek to beat the possible implementation of new tariffs on Chinese goods by the incoming Trump administration.","__typename":"Document"},{"Id":"5817574_JournalOfCommerce","Attachments":[{"FileName":"5817573_0.1.jpg","FileType":"Nondownloadable","Title":null,"__typename":"Attachment"},{"FileName":"5817572_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eFollowing President Joe Biden’s intervention in October \u003ca href=\"https://www.joc.com/article/ila-usmx-agree-on-new-wage-offer-and-contract-extension-that-reopens-ports-5741882\"\u003eto end the brief strike at East and Gulf coast ports\u003c/a\u003e, US longshore labor negotiations can no longer be seen through a traditional lens. The precedent now firmly established is that politics will prevail over the traditional give-and-take at the negotiating table. \u003c/p\u003e\u003cdiv class=\"wrapper-narrow float-right-element\"\u003e\u003cimg src=\"/images/phoenix/5817573_0.1.jpg\"\u003e\u003c/img\u003e\u003c/div\u003e\u003cp\u003eA traditional lens on the current scenario, \u003ca href=\"https://www.joc.com/article/ila-breaks-off-contract-talks-accuses-usmx-of-semi-automation-push-5810392\"\u003efollowing the suspension of talks again by the International Longshoremen’s Association (ILA) on Wednesday\u003c/a\u003e, would show labor and management dug in with few evident pathways to bridge the gap and the real possibility of another strike as of Jan. 15. \u003c/p\u003e\u003cp\u003eManagement’s fundamental view is that given minimal physical additions to US port capacity, efficiency gains through automation — starting with contractual rights — are required to move growing volumes through existing facilities. Although no current union jobs would be placed at risk, the union sees automation as a threat to its nearly 150-year-old franchise and is intent on rolling back the limited right of terminal operators to automate under the existing contract. \u003c/p\u003e\u003cp\u003eThe union suspended further talks this week over that issue, with management, represented by the United States Maritime Alliance (USMX), stating the union is intent on “restricting future use of technology that has existed in some of our ports for nearly two decades.” \u003c/p\u003e\u003cp\u003eBut the real question is: Does it matter? Is the economic rationale for greater port efficiency relevant in terms of how decisions will get made over the coming few months? Does it matter that US ports appear nowhere in the top 50 of the \u003ca href=\"https://www.worldbank.org/en/news/press-release/2024/06/01/regional-disruptions-drive-changes-in-global-container-port-performance-ranking\"\u003eContainer Port Performance Index\u003c/a\u003e, a data set developed by the \u003ci\u003eJournal of Commerce\u003c/i\u003e, and that costly bottlenecks are a frequent occurrence at US ports? \u003c/p\u003e\u003cp\u003eConversations the \u003ci\u003eJournal of Commerce\u003c/i\u003e has had with multiple sources close to the negotiations say with a Republican, pro-business administration coming into power on Jan. 20 and anti-union figures including Elon Musk advising President-elect Donald Trump, management may have more leverage in the negotiations than they did in October. \u003c/p\u003e\u003cp\u003eBut sources admit the possibility cannot be ruled out that management’s position is, in fact, no stronger than it was. In other words, even as the White House changes hands, the outcome will be the same as it was in October — presidential intervention in favor of the union irrespective of the costs to the industry and the economy. \u003c/p\u003e\u003cp\u003eThe carriers being on the losing end was precisely what happened in October. The USMX and its ocean carrier members were \u003ca href=\"https://www.joc.com/article/behind-the-scenes-white-house-arm-twisting-got-ila-wage-deal-done-5747241\"\u003eall but forced by the White House\u003c/a\u003e to agree to a 62% pay increase for dockworkers over six years in a preliminary settlement on the wage issue. The “deal” ended the strike after three days and took the issue off the table as a dangerous campaign factor for Democrats. \u003c/p\u003e\u003ch3\u003eLittle apparent leverage for management \u003c/h3\u003e\u003cp\u003eThis time, the campaign is no longer a factor, but the new administration will likely be similarly disinterested in a strike of any significant length and, it can be assumed, will get directly involved, following precedent set by a series of presidents going back to George W. Bush, who acted to end a 10-day lockout of West Coast dockworkers in 2002. \u003c/p\u003e\u003cp\u003eWhat does the incoming President-elect Trump do? Reject the views of blue-collar workers — a core Trump constituency — and a union that did him a favor during the campaign by withholding an endorsement of his opponent, as it had given to Biden in 2020? \u003c/p\u003e\u003cp\u003eHaving met with Trump late last year, documented in a photo widely spread on social media, ILA President Harold Daggett said in a social media post that “President Trump promised to support the ILA in its opposition to automated terminals in the US,” a statement that can hardly be written off. If Trump is all too willing to raise the costs of trade via tariffs, the reasoning goes, why would he be concerned about inefficiency at ports? \u003c/p\u003e\u003cp\u003eThat is why some close to the negotiations believe USMX will ultimately agree to the union’s demands, including agreeing to its terms on automation. The result would be avoiding a strike, or at the very least a lengthy one, and averting another White House showdown management had no chance of winning in October and could have no chance of winning in January. \u003c/p\u003e\u003cp\u003e“The employers in the end are likely to agree to language that effectively bans new automation for the life of the contract,” a knowledgeable source told the \u003ci\u003eJournal of Commerce\u003c/i\u003e. “The employers will want to put this contract behind them and prioritize strategy for future negotiations in hopes of avoiding a repeat of what happened just before the presidential election.” \u003c/p\u003e\u003cp\u003eOcean carriers, for whom the US is an important market, have traditionally sought to maintain a low profile, knowing they are foreign entities and politically speaking have few friends in Washington, as was seen when the Ocean Shipping Reform Act of 2022 (OSRA-22) was signed into law over their objections. \u003c/p\u003e\u003cp\u003eThat thinking appears to be part of the union’s calculus that, at the moment, it holds all the cards and if so, why not seize the day in seeking to not just prevent an expansion of automation, but to roll back employers’ existing automation rights? \u003c/p\u003e\u003cp\u003eUnder that scenario, USMX would live to fight another day and likely take the next few years to re-tool in a bid to fare better in future negotiations. \u003c/p\u003e\u003cp\u003e \u003ci\u003eContact Peter Tirschwell at \u003c/i\u003e\u003ca href=\"mailto:peter.tirschwell@spglobal.com\"\u003e\u003ci\u003epeter.tirschwell@spglobal.com\u003c/i\u003e\u003c/a\u003e\u003ci\u003e.\u003c/i\u003e \u003c/p\u003e\u003c/div\u003e","Metadata":{"BylineOverwrite":null,"AuthorCompanyOrEventLink":null,"PaywallLocked":false,"FeatureImageCopyright":"Some sources close to the ILA-USMX negotiations believe management will ultimately agree to the union’s demands, including agreeing to its terms on automation. Photo credit: ambient_pix / Shutterstock.com.","__typename":"Metadata"},"ModDate":"1732545074983","Taxonomy":{"MainCategory":[{"Id":"1","Name":"Maritime","Redirects":[{"Path":"/maritime","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"AdditionalCategories":[{"Id":"34","Name":"Container lines","Redirects":[{"Path":"/maritime/container-shipping-news/container-lines","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"42","Name":"North American ports","Redirects":[{"Path":"/maritime/port-news/north-american-ports","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"45","Name":"Longshore labor","Redirects":[{"Path":"/maritime/port-news/longshore-labor","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"Peter Tirschwell","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1731596954000","TitlePlainText":"New precedent established for politics to drive longshore union negotiations","Published":true,"Redirects":[{"Path":"/article/new-precedent-established-for-politics-to-drive-longshore-union-negotiations-5817574","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eWhile the presidential campaign is no longer a factor, the new Trump administration will likely be similarly disinterested in a strike of any significant length and, it can be assumed, will get directly involved in talks.\u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"While the presidential campaign is no longer a factor, the new Trump administration will likely be similarly disinterested in a strike of any significant length and, it can be assumed, will get directly involved in talks.","__typename":"Document"},{"Id":"5810473_JournalOfCommerce","Attachments":[{"FileName":"5810457_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eLongshore foremen at British Columbia ports plan a legal challenge against a government order for them to return to work and submit to binding arbitration in contract talks with maritime employers, even as Canada’s busiest port plans to reopen Thursday. Meanwhile, Montreal’s dockworkers are also balking at a similar request, arguing such a demand from the government is unconstitutional. \u003c/p\u003e\u003cp\u003eThe International Longshore and Warehouse Union Local 514 said \u003ca href=\"https://www.joc.com/article/bc-montreal-ports-set-to-reopen-under-orders-from-canadas-labor-chief-5792214\"\u003ethe order from Canadian Labor Minister Steve MacKinnon for binding arbitration\u003c/a\u003e in contract talks between the union and the British Columbia Maritime Employers Association (BCMEA) was unconstitutional, as was his order to reopen ports. \u003c/p\u003e\u003cp\u003eThe union added that it plans to file a “charter challenge” against the Canada Industrial Relations Board’s (CIRB’s) constitutional power to make such an order. \u003c/p\u003e\u003cp\u003e“We will fight this order in the courts,” Frank Morena, president of Local 514, said in a statement. “We will fight the arbitrated forced contract in the courts.” \u003c/p\u003e\u003cp\u003eThe labor minister’s orders aimed \u003ca href=\"https://www.joc.com/article/port-lockouts-extend-from-bc-ports-to-montreal-5790073\"\u003eto end a two-week closure of the ports of Vancouver and Prince Rupert\u003c/a\u003e due to the \u003ca href=\"https://www.joc.com/article/bc-container-ports-set-for-shutdown-after-foremen-begin-strike-5785499\"\u003eBCMEA locking out members of Local 514 after they voted to strike\u003c/a\u003e. \u003c/p\u003e\u003cp\u003eMacKinnon’s order also applied to the Port of Montreal’s 1,200 dockworkers who have been in \u003ca href=\"https://www.joc.com/article/montreal-dockworkers-target-mscs-terminals-for-strike-this-week-5781453\"\u003ea series of rolling labor actions against maritime employers there since October\u003c/a\u003e, culminating in management locking out longshore workers. \u003c/p\u003e\u003cp\u003eLocal 514 in British Columbia has been in protracted negotiations with the BCMEA over a new contract covering its 700 members since the expiration of the previous deal in March 2023. A separate dispute over the implementation of semi-automated rail mounted gantry cranes at Vancouver’s DP World Centerm terminal prompted the union to strike that facility, but the CIRB ruled that vote was illegal. \u003c/p\u003e\u003cp\u003eDespite the union’s challenge, the BCMEA said port operations across the province are set to resume with the night shift on Thursday. As of Thursday, there were four container ships at the Port of Vancouver’s anchorage sites, with another seven dwelling just outside the port’s jurisdiction. \u003c/p\u003e\u003cp\u003eWhile the number of ships waiting for a berth is relatively small, it’s unclear when Vancouver’s marine terminals will be able to clear up the backlog due to a more limited pool of longshore labor available during November and December.\u003c/p\u003e\u003cp\u003e“With the resumption of work, coupled with an anticipated high volume of vessels and cargo, there will be extensive province-wide labor requirements across all port areas,” the BCMEA said in its statement. \u003c/p\u003e\u003ch3\u003eDirect appeal to CIRB \u003c/h3\u003e\u003cp\u003eLocal 514’s charter challenge first involves a direct appeal to the CIRB about its ability to order a return to work. Even though it was maritime employers who locked out longshore foremen, the CIRB’s return-to-work order also covers any labor actions on the part of the union. \u003c/p\u003e\u003cp\u003eIf a direct appeal doesn’t work, then Local 514 can turn to Canada’s Supreme Court for a hearing on MacKinnon’s constitutional power to issue such an order. \u003c/p\u003e\u003cp\u003eThe union’s move is similar to what \u003ca href=\"https://www.joc.com/article/canadas-labour-minister-orders-end-to-rail-work-stoppage-via-binding-arbitration-5709672\"\u003ethe Teamsters Canada Rail Conference (TCRC) tried when its members were locked out by Canadian National Railway and Canadian Pacific Kansas City back in August\u003c/a\u003e. At that time, \u003ca href=\"https://www.joc.com/article/canadian-rail-workers-back-on-job-after-failed-challenge-to-binding-arbitration-5712234\"\u003eMacKinnon also ordered union members back to work and to accept binding arbitration\u003c/a\u003e, allowing the railroads to resume operations. TCRC is also challenging the minister’s order in court. \u003c/p\u003e\u003cp\u003eSeparately, the Canadian Union of Public Employees CUPE) Local 375 in Montreal said in a Tuesday statement that it was “disappointed” by MacKinnon’s order, saying he was “trampling on their constitutionally protected rights” and that the government should not interfere in collective bargaining between labor and management. \u003c/p\u003e\u003cp\u003e“There is no incentive for them to bargain in good faith because they know the federal government will back their side,” Candace Rennick, CUPE’s national secretary-treasurer, said in the statement. \u003c/p\u003e\u003cp\u003eIt was not immediately clear whether CUPE will also mount a similar legal challenge to MacKinnon’s order. \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 longshore unions are taking a page from Canada’s railroad unions, which also tried to challenge binding arbitration and return-to-work orders Photo credit: SherSS / Shutterstock.com. ","__typename":"Metadata"},"ModDate":"1731600975113","Taxonomy":{"MainCategory":[{"Id":"42","Name":"North American ports","Redirects":[{"Path":"/maritime/port-news/north-american-ports","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"AdditionalCategories":[{"Id":"9","Name":"Container Shipping News","Redirects":[{"Path":"/maritime/container-shipping-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"43","Name":"Marine terminals","Redirects":[{"Path":"/maritime/port-news/marine-terminals","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"45","Name":"Longshore labor","Redirects":[{"Path":"/maritime/port-news/longshore-labor","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"Michael Angell, Senior Editor","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1731537554000","TitlePlainText":"BC ports to reopen, but longshore union plans challenge to back-to-work order","Published":true,"Redirects":[{"Path":"/article/bc-ports-to-reopen-but-longshore-union-plans-challenge-to-back-to-work-order-5810473","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eDockworkers in British Columbia, as well as Montreal, say Labor Minister Steve MacKinnon’s order to accept binding arbitration goes against their rights under Canada’s constitution.\u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"Dockworkers in British Columbia, as well as Montreal, say Labor Minister Steve MacKinnon’s order to accept binding arbitration goes against their rights under Canada’s constitution.","__typename":"Document"},{"Id":"5810460_JournalOfCommerce","Attachments":[{"FileName":"5810452_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eThe Panama Canal Authority (ACP) is looking for more than $1 billion in funding to develop an over-the-road network connecting the Pacific and Atlantic oceans that would move containers carried on vessels too large to transit the waterway. \u003c/p\u003e\u003cp\u003eACP Administrator Ricaurte Vásquez Morales, who made the plan public at a Houston maritime event last week, said the port authority needs $1.2 billion to $1.4 billion to fund the project aimed at regaining cargo now transshipped via Colombia’s Cartagena and mitigating the canal’s inability to handle the industry’s largest ships. \u003c/p\u003e\u003cp\u003eMorales said the land bridge option would have to be cost competitive, a challenge given the increased costs to unload a container, haul by truck and then reload onto another vessel. The idea behind the Panama project would be, for example, to remove eastbound containers on the Pacific side from a vessel too large to move through the canal, ship the boxes across the isthmus via truck, and then reload them on a separate vessel on the Atlantic side for the onward journey.\u003c/p\u003e\u003cp\u003eIt wasn’t immediately clear the distance the trucks would need to travel, but the canal itself is just over 50 miles long. The transit time via the Panama Canal is about 10 hours, while existing transshipment options take about two days via rail and four days via truck.\u003c/p\u003e\u003cp\u003eThe public revealing of the plan comes as the Panama Canal \u003ca href=\"https://www.joc.com/article/panama-canal-transits-rise-to-almost-normal-levels-as-expansion-work-begins-5703116\"\u003esporadically grapples with low water levels\u003c/a\u003e that prevent it from fully utilizing its larger locks that normally handle fully loaded 14,000- to 15,000-TEU ships. The ACP is eyeing 2027 as the next potential dry season impacting canal passages and forcing draft restrictions, subject to change amid increased weather volatility. \u003c/p\u003e\u003cp\u003eWhile the Suez Canal hasn’t been seen as viable for container routings by major carriers since Houthi militant attacks began late last year, it can handle the industry’s largest ships. Still, Vásquez Morales said the two canals don’t necessarily serve the same markets, with only about 15% overlap in container cargo.\u003c/p\u003e\u003ch3\u003eGlobal order book presents challenges\u003c/h3\u003e\u003cp\u003eThe Panama Canal can serve ships as large as 17,000 TEUs, but Vásquez Morales said about 20% of the current global order book calls for vessels too large to pass through the waterway. While 72% of the container vessels that transit the Panama Canal do make a port of call to load or unload boxes, 28% of vessels go through without stopping — a figure Vásquez Morales would like to reduce.\u003c/p\u003e\u003cp\u003eThe Port of Cartagena, he said, is more efficient than the Port of Panama and has capitalized on the opportunity to transship.\u003c/p\u003e\u003cp\u003e“We know that the market is there, and it’s probably [going] to grow container traffic,” Vásquez Morales said. “[The order book] clearly indicates that the number [and size] of ships are increasing.”\u003c/p\u003e\u003cp\u003eThe transshipment project could increase annual container throughput by just over 60%, or 5 million TEUs, from the 8 million TEUs moved currently each year through the canal, said Vásquez Morales.\u003c/p\u003e\u003cp\u003eThe project would be developed on part of a 54,000-acre plot already purchased by the ACP for $501 million — land Vásquez Morales describes as “challenging.” There is need for further funding to bring the project to fruition as the capital requirements are probably going to exceed local resources, he said, and the Panamanian government will not be financing the project. That means external sources of funding will need to be tapped, but Vásquez Morales did not detail what alternatives are available.\u003c/p\u003e\u003cp\u003eThe transshipment initiative would utilize existing port facilities on both ends of the isthmus. It also has the potential to expand to another tract of land, also already controlled by the ACP, to handle additional volumes.\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":"A land bridge serving the Port of Panama would increase container throughput by serving vessels otherwise too large to transit the canal. Photo credit: Jose Mario Espinoza / Shutterstock.com.","__typename":"Metadata"},"ModDate":"1731538155570","Taxonomy":{"MainCategory":[{"Id":"9","Name":"Container Shipping News","Redirects":[{"Path":"/maritime/container-shipping-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"AdditionalCategories":[{"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"}],"__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"Laura Robb, Associate Editor","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1731535275000","TitlePlainText":"Panama Canal chief offers land bridge option to transship containers across isthmus","Published":true,"Redirects":[{"Path":"/article/panama-canal-chief-offers-land-bridge-option-to-transship-containers-across-isthmus-5810460","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eDeveloping an over-the-road network to handle containers carried on ships too large to traverse the waterway could increase the canal’s annual throughput by over 60%, officials say, although funding concerns exist.\u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"Developing an over-the-road network to handle containers carried on ships too large to traverse the waterway could increase the canal’s annual throughput by over 60%, officials say, although funding concerns exist.","__typename":"Document"},{"Id":"5810416_JournalOfCommerce","Attachments":[{"FileName":"5810412_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eRocketing freight rates and a raft of new services helped propel Taiwan’s Evergreen Marine and South Korean carrier HMM to a bumper third quarter, with net earnings for both carriers outstripping those in the first half of the year. \u003c/p\u003e\u003cp\u003eThe strong quarterly results mirror those of other carriers, \u003ca href=\"http://go.microsoft.com/fwlink/p/?LinkId=255141\"\u003eincluding CMA CGM\u003c/a\u003e, \u003ca href=\"https://www.joc.com/article/yang-ming-wan-hai-see-q3-net-profit-outpace-first-half-on-demand-higher-rates-5791802\"\u003eYang Ming Marine and Wan Hai Lines\u003c/a\u003e, which have also recently reported stellar third-quarter profits. \u003c/p\u003e\u003cp\u003eEvergreen saw third-quarter net profit surge to $1.9 billion compared with $1.4 billion for the first six months, an analysis of its results filing to the Taiwan stock exchange showed Wednesday. The figures compare with net profit of $677 million in the third quarter of last year. \u003c/p\u003e\u003cp\u003eOperating revenue hit $4.7 billion in the third quarter, almost double the $2.4 billion recorded in the year-ago period. \u003c/p\u003e\u003cp\u003eEvergreen, ranked the seventh-largest ocean carrier in the world by capacity according to Alphaliner, has seen its cargo volumes and average revenue per TEU rise steadily since April. Total increases of approximately 2.7 million TEUs were reported between July and September compared with 2.5 million TEUs in the prior year period. Average freight rates hit almost $1,900 per TEU in August, against $844 per TEU in August 2023. \u003c/p\u003e\u003cp\u003eEvergreen’s third-quarter results were also supported by the launch of a raft of services, including its Asia-East Africa 3 service (AEF3), the Mindanao-Hong Kong-Taiwan (MHT) service with Wan Hai Lines and two intra-Mediterranean services. \u003c/p\u003e\u003cp\u003eThe carrier said it is also spending almost $187 million on the purchase of 60,500 containers in three deals with different manufacturers. That comes as Alphaliner reported this week Evergreen has asked six shipyards to submit proposals for 11 24,000-TEU methanol dual-fuel vessels that could cost $265 million each. The shipbuilders are Hanwha, Hyundai Heavy and Samsung Heavy from South Korea, China’s Jiangnan Shipyard and Hudong-Zhonghua Shipyard, and Japan’s Imabari Shipbuilding. Deliveries are slated for 2028 and 2029. \u003c/p\u003e\u003cp\u003eEvergreen currently has about 550,000 TEUs of new capacity on order for delivery next year and 2026, with 173,000 TEUs of capacity scheduled for delivery between July and the end of this year. \u003c/p\u003e\u003ch3\u003eHMM Q3 profit surges, but warns of ‘weak’ Q4 \u003c/h3\u003e\u003cp\u003eHMM’s third-quarter net profit surged to $1.2 billion from just $68 million in the prior year period. The July-September result also compared with total net profit of $815 million in the first half of 2024. \u003c/p\u003e\u003cp\u003e“Profit growth and enhanced competitiveness were achieved through launching and operating new service routes and a strengthened focus on profitability-driven sales,” the carrier said in a results announcement Wednesday. \u003c/p\u003e\u003cp\u003eThe new services included a Far East-Latin America Express (FLX) service launched on Aug. 16 that connects Busan, Shanghai and Lazaro Cardenas in Mexico. \u003c/p\u003e\u003cp\u003eThird-quarter revenue grew 67% to $2.5 billion from $1.5 billion a year earlier. \u003c/p\u003e\u003cp\u003eBut HMM warned the buoyant conditions are unlikely to continue, pointing out the “Q4 market outlook is weak.” “The possibility of further US dockworker industrial action may cause [vessel] supply uncertainty,” the carrier said. \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 pandemic-fueled 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=\"mailto:keithwallis@hotmail.com\"\u003e\u003ci\u003ekeithwallis@hotmail.com\u003c/i\u003e\u003c/a\u003e\u003ci\u003e.\u003c/i\u003e \u003c/p\u003e\u003c/div\u003e","Metadata":{"BylineOverwrite":null,"AuthorCompanyOrEventLink":null,"PaywallLocked":true,"FeatureImageCopyright":"Evergreen saw third-quarter net profit surge to $1.9 billion, up from $677 million in the third quarter of last year. Photo credit: hydebrink / Shutterstock.com.","__typename":"Metadata"},"ModDate":"1731532394277","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"}],"__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"Keith Wallis, Special Correspondent","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1731527955000","TitlePlainText":"Evergreen, HMM follow peers in reporting bumper Q3 profits","Published":true,"Redirects":[{"Path":"/article/evergreen-hmm-follow-peers-in-reporting-bumper-q3-profits-5810416","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eThe strong quarterly results mirror those of other carriers, including CMA CGM, Yang Ming Marine and Wan Hai Lines, which have also recently reported stellar third-quarter financials.\u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"The strong quarterly results mirror those of other carriers, including CMA CGM, Yang Ming Marine and Wan Hai Lines, which have also recently reported stellar third-quarter financials.","__typename":"Document"},{"Id":"5810392_JournalOfCommerce","Attachments":[{"FileName":"5810382_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eThe International Longshoremen’s Association (ILA) said Wednesday it has halted negotiations with maritime employers over a new master contract due to what it said was a management proposal for introducing semi-automated equipment that would eliminate longshore jobs. The technology at the heart of the dispute is said to be what’s already in use at New Jersey and Virginia marine terminals. \u003c/p\u003e\u003cp\u003eThe ILA said in a statement \u003ca href=\"https://www.joc.com/article/ila-usmx-say-to-resume-talks-on-new-master-contract-in-november-5778794\"\u003eit broke off talks with the United States Maritime Alliance (USMX) that were scheduled this week\u003c/a\u003e due to the “continued pushing [of] automation and semi-automation language in its master contract proposal that will eliminate jobs.” The union and employers were scheduled to meet for four days this week in New Jersey, with the most recent round of talks having ended Tuesday afternoon. \u003c/p\u003e\u003cp\u003e“The USMX introduced language in their proposal for semi-automated equipment to be used at ILA ports, which the union outright rejected,” the ILA said. “The ILA recognized this as a renewed attempt by USMX to eliminate ILA jobs with automation and broke off talks.”\u003c/p\u003e\u003cp\u003eIn a separate statement Wednesday, the USMX said that during the negotiations this week, it was “unable to make significant progress on our discussions that focused on a range of technology issues.”\u003c/p\u003e\u003cp\u003e“Unfortunately, the ILA is insisting on an agreement that would move our industry backward by restricting future use of technology that has existed in some of our ports for nearly two decades — making it impossible to evolve to meet the nation’s supply chain demands,” the USMX said.\u003c/p\u003e\u003cp\u003eThe ILA, which represents about 45,000 dockworkers at ports along the US East and Gulf coasts, staged a three-day strike in early October. \u003ca href=\"https://www.joc.com/article/ila-usmx-agree-on-new-wage-offer-and-contract-extension-that-reopens-ports-5741882\"\u003eA tentative deal on wages ended the work stoppage\u003c/a\u003e, and a temporary contract extension gave both sides until Jan. 15 to hammer out a final agreement once other bargaining items were settled. \u003c/p\u003e\u003ch3\u003eUse of RMGs at ports\u003c/h3\u003e\u003cp\u003eNeither side elaborated on the specific technology at issue. But a source familiar with the talks pointed to rail mounted gantry (RMG) cranes as the source of friction between the union and employers. \u003c/p\u003e\u003cp\u003eRMGs are used to stack containers coming off ships for placement on truck chassis. The RMGs are operated by longshore workers remotely within offices, unlike other types of terminal equipment which require a human operator directly on the equipment. A longshore worker can also operate multiple RMGs at one time. \u003c/p\u003e\u003cp\u003eThe advantage of an RMG is that it allows more dense stacking of containers within a yard. Other terminal operations that use straddle carriers or rubber tire gantry cranes with an operator directly on the machine require more lanes on terminal property, reducing the available space for containers. \u003c/p\u003e\u003cp\u003eRMGs have been in use at the Port of Virginia’s two main marine terminals since 2014. The former GCT Bayonne terminal at the Port of New York and New Jersey, now owned by CMA CGM, has also used RMGs since 2014 due to the yard’s small footprint.\u003c/p\u003e\u003cp\u003e\u003ca href=\"https://www.joc.com/article/nys-global-terminal-ila-in-arbitration-5219271\"\u003eThe ILA agreed to the previous implementations of RMG technology\u003c/a\u003e. It’s unknown if a specific port or marine terminal wants to also implement RMG technology now, the source said, adding, however, that the USMX employers would like to have that option available. \u003c/p\u003e\u003cp\u003eThe ILA said Wednesday its rank-and-file members fully support breaking off talks and that the brief strike in October “should serve as proof how much they will sacrifice to fight for a fair and decent contract.” \u003c/p\u003e\u003cp\u003eWhile both the ILA and USMX said they hope to resume negotiations soon, neither side said when that might happen. A source close to the maritime employers said they believe talks could resume in the next week or two. \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":"Contract talks between the ILA and USMX are said to have broken down due to employers wanting the option to use rail mounted gantry cranes. Above, dockworkers are pictured during the brief strike in early October. Photo credit: Getty Images.","__typename":"Metadata"},"ModDate":"1731529155423","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":"40","Name":"Port infrastructure","Redirects":[{"Path":"/maritime/port-news/port-infrastructure","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"43","Name":"Marine terminals","Redirects":[{"Path":"/maritime/port-news/marine-terminals","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"45","Name":"Longshore labor","Redirects":[{"Path":"/maritime/port-news/longshore-labor","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"Michael Angell, Senior Editor","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1731524774000","TitlePlainText":"ILA breaks off contract talks, accuses USMX of semi-automation push","Published":true,"Redirects":[{"Path":"/article/ila-breaks-off-contract-talks-accuses-usmx-of-semi-automation-push-5810392","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eThe union representing about 45,000 dockworkers at East and Gulf coast ports says employers want to eliminate jobs by implementing semi-automated technology at marine terminals. \u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"The union representing about 45,000 dockworkers at East and Gulf coast ports says employers want to eliminate jobs by implementing semi-automated technology at marine terminals.","__typename":"Document"},{"Id":"5792214_JournalOfCommerce","Attachments":[{"FileName":"5792209_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eCanada’s Labor Minister on Tuesday took direct action to end coast-to-coast port closures by ordering binding arbitration in contract disputes between maritime employers and longshore workers, forcing ports to reopen. \u003c/p\u003e\u003cp\u003eSteve MacKinnon said in a statement that he has invoked authority under Canada’s labor code that will force longshore unions in British Columbia and Montreal and their respective employer groups to come to terms on new collective bargaining agreements with the aid of a government arbitrator. \u003c/p\u003e\u003cp\u003eIn advance of the arbitration proceedings, MacKinnon also said \u003ca href=\"https://www.joc.com/article/port-lockouts-extend-from-bc-ports-to-montreal-5790073\"\u003ehis agency will order the reopening of ports in those jurisdictions\u003c/a\u003e, with previously expired longshore contracts being extended in the interim. \u003c/p\u003e\u003cp\u003e“I have directed the Canada Industrial Relations Board [CIRB] to order the resumption of all operations and functions at the ports, and to assist the parties by imposing final and binding arbitration,” MacKinnon said. “I have also directed the board to extend the term of the existing collective agreements until new ones are reached.” \u003c/p\u003e\u003cp\u003eMacKinnon’s move will end a nearly two-week work stoppage at the ports of Vancouver and Prince Rupert after \u003ca href=\"https://www.joc.com/article/bc-container-ports-set-for-shutdown-after-foremen-begin-strike-5785499\"\u003ethe British Columbia Maritime Employers Association (BCMEA) locked out members of the International Longshore and Warehouse Union Local 514 after its vote for a strike\u003c/a\u003e. \u003c/p\u003e\u003cp\u003eThe BCMEA tried to end the lockout this weekend through direct talks with Local 514 overseen by government mediators, but those talks did not result in a deal. Maritime employers there have offered Local 514 a 19.2% wage increase over four years, along with a one-time lump sum payment of C$21,000 and a boost to other existing benefits. \u003c/p\u003e\u003cp\u003eThe BCMEA said in a statement Tuesday that it “intends to follow direction received from the CIRB and will inform member employers of operational updates as soon as possible.”\u003c/p\u003e\u003cp\u003e“We look forward to safely resuming operations across Canada’s West Coast ports,” the group said. \u003c/p\u003e\u003cp\u003eThe coast-to-coast port closures have delayed the discharge and loading of ocean freight and forced Canada’s two main railroads to halt intermodal operations at the affected ports. But there does not appear to be any major disruptions in terms of a high number of anchored ships or severe backlogs at the ports. \u003c/p\u003e\u003cp\u003e\u003cb\u003e‘Corroded’ relations at Montreal\u003c/b\u003e \u003c/p\u003e\u003cp\u003eMacKinnon’s move also signals the end of \u003ca href=\"https://www.joc.com/article/montreal-dockworkers-target-mscs-terminals-for-strike-this-week-5781453\"\u003ea series of limited strikes\u003c/a\u003e and \u003ca href=\"https://www.joc.com/article/montreal-says-congestion-risk-grows-as-dockworkers-refuse-overtime-5751118\"\u003ework stoppages\u003c/a\u003e at the Port of Montreal by the Canadian Union of Public Employees Local 375 since the start of October. In response to those actions, Montreal’s Maritime Employers Association (MEA) began its own port-wide lockout of longshore workers this week. \u003c/p\u003e\u003cp\u003eMacKinnon said the situation at Montreal has become particularly acute due to the length of the standoff between the MEA and Local 375, \u003ca href=\"https://www.joc.com/article/port-of-montreal-labor-talks-head-to-mediation-at-longshore-unions-request-5220571\"\u003ewith government-mediated contract negotiations between the two having begun back in October 2023\u003c/a\u003e. Montreal terminal operators started using replacement workers at the port in response to the lockout, “so the relationship between the parties and industrial peace is further corroded with each passing day,” he said. \u003c/p\u003e\u003cp\u003eThe MEA began its lockout on Sunday evening after Local 375 rejected the employers’ last offer that included a 20.5% wage increase over six years, plus maintaining other benefits such as a pension and income guarantees. \u003c/p\u003e\u003cp\u003eThe MEA said in a statement Tuesday that it welcomed MacKinnon’s help in resolving the “total impasse” with Local 375 over a new contract that would cover about 1,300 dockworkers. While it did not say when the port will reopen, the MEA said it “will take the necessary steps to ensure that activities resume as quickly as possible at the Port of Montreal.” \u003c/p\u003e\u003cp\u003e\u003ca href=\"https://www.joc.com/article/ships-waiting-out-bc-port-closures-in-hopes-of-quick-deal-with-longshore-union-5786677\"\u003eOcean carriers have been holding fire on major operational changes due to the port closures\u003c/a\u003e. Carriers still accepted bookings for Canada-bound freight, and container ships have mostly been idling outside the ports awaiting a resolution. \u003c/p\u003e\u003cp\u003eMaersk said last week that vessels in its TP1 service to Canada’s west coast have remained at berth in Vancouver and Prince Rupert, with other scheduled vessels still en route to both ports. It said that vessels in the carrier’s Canada Express Service, which is jointly operated with CMA CGM, also remain en route to Montreal. \u003c/p\u003e\u003cp\u003eHapag-Lloyd said in an advisory Tuesday that it has three ships at berth in Montreal currently, with two idling at anchorage in the Saint Lawrence River awaiting the port’s reopening. On the west coast, one ship in THE Alliance’s PN3 service remains at berth in Vancouver, with vessels in other services awaiting a berth. Another vessel in THE Alliance’s PN4 service is waiting outside of Prince Rupert for an available berth, the carrier 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":"Ocean carriers took a wait-and-see approach to operational changes amid the shutdowns at Canada’s major ports that have been building since October. Photo credit: CK Foto / Shutterstock.com.","__typename":"Metadata"},"ModDate":"1731450314443","Taxonomy":{"MainCategory":[{"Id":"42","Name":"North American ports","Redirects":[{"Path":"/maritime/port-news/north-american-ports","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"AdditionalCategories":[{"Id":"9","Name":"Container Shipping News","Redirects":[{"Path":"/maritime/container-shipping-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"43","Name":"Marine terminals","Redirects":[{"Path":"/maritime/port-news/marine-terminals","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"45","Name":"Longshore labor","Redirects":[{"Path":"/maritime/port-news/longshore-labor","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"Michael Angell, Senior Editor","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1731440594000","TitlePlainText":"BC, Montreal ports set to reopen under orders from Canada’s labor chief","Published":true,"Redirects":[{"Path":"/article/bc-montreal-ports-set-to-reopen-under-orders-from-canadas-labor-chief-5792214","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eCanada’s Labor Minister requires management and unions to submit to binding arbitration and orders that ports reopen after a series of strikes and lockouts effectively halted container operations across the country. \u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"Canada’s Labor Minister requires management and unions to submit to binding arbitration and orders that ports reopen after a series of strikes and lockouts effectively halted container operations across the country.","__typename":"Document"},{"Id":"5791802_JournalOfCommerce","Attachments":[{"FileName":"5791801_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eTwo of Taiwan’s largest carriers — Yang Ming Marine Transport and Wan Hai Lines — saw net profit surge in the third quarter, outpacing their first-half results, on the back of stronger demand and higher freight rates. \u003c/p\u003e\u003cp\u003eBoth companies generated more in net income between July and September than the first two quarters combined, filings to the Taiwan stock exchange on Monday showed. \u003c/p\u003e\u003cp\u003eYang Ming, ranked by Alphaliner as the 10th-largest carrier globally in terms of capacity, saw net profit jump to $870 million in the third quarter, compared with $730 million for the entire first half. The third-quarter result was almost nine times higher than the $91 million in net profit reported in the third quarter of last year. \u003c/p\u003e\u003cp\u003eOperating revenues climbed to $2.2 billion in the third quarter against $1.2 billion in the prior-year period. \u003c/p\u003e\u003cp\u003eYang Ming said it started to see strong demand and higher freight rates in the first half, trends that continued in the third quarter as shippers consigned cargo early ahead of possible US port disruption and vessels diverting around southern Africa. \u003c/p\u003e\u003cp\u003eNearly 40% of operating revenues came from its services to the Americas, while the biggest volume gains were on trans-Pacific and longer-haul intra-Asia services to the Middle East and South Asia, the carrier said. \u003c/p\u003e\u003cp\u003eWhile container freight rates steadily declined in the third quarter from early July, when the benchmark Shanghai Container Freight Index (SCFI) peaked at 3,650, the SCFI was still 140% higher in the third quarter than the same period last year. \u003c/p\u003e\u003cp\u003eWan Hai, meanwhile, generated $600 million in net profit in the third quarter, up from the $499 million recorded in the first half and a $56 million net loss in the third quarter of 2023. \u003c/p\u003e\u003cp\u003eOperating revenues surged to $1.7 billion between July and September against $771 million in the year-ago quarter. \u003c/p\u003e\u003cp\u003eWan Hai has seen a steady increase in the percentage of revenue from long-haul Americas and Middle East and India services this year compared with 2023, while its traditional Far East-derived revenues have shrunk. \u003c/p\u003e\u003cp\u003eThe Americas now account for almost 50% of the carrier’s total revenues, with the Middle East and India around 25% combined. \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 pandemic-fueled 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=\"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":"Yang Ming’s third-quarter operating revenues climbed to $2.2 billion against $1.2 billion in the prior-year period. Photo credit: carol.anne / Shutterstock.com.","__typename":"Metadata"},"ModDate":"1731440414920","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"}],"__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"Keith Wallis, Special Correspondent","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1731436635000","TitlePlainText":"Yang Ming, Wan Hai see Q3 net profit outpace first half on demand, higher rates","Published":true,"Redirects":[{"Path":"/article/yang-ming-wan-hai-see-q3-net-profit-outpace-first-half-on-demand-higher-rates-5791802","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eBoth carriers generated more in net income between July and September than the first two quarters combined, filings to the Taiwan stock exchange showed.\u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"Both carriers generated more in net income between July and September than the first two quarters combined, filings to the Taiwan stock exchange showed.","__typename":"Document"},{"Id":"5791375_JournalOfCommerce","Attachments":[{"FileName":"5791372_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eJust days after announcing it would send its key India-US Indamex service back through the Suez Canal, CMA CGM has reversed course and instead will maintain the longer route around the Cape of Good Hope in southern Africa. \u003c/p\u003e\u003cp\u003eWhile there was no official word as to what caused the flip-flop on the part of the carrier, sources believe the security situation in the Red Sea remains too volatile for carriers to consider returning to the Suez route, which was largely abandoned by commercial shipping almost a year ago amid attacks by Houthi militants operating from southern Yemen. \u003c/p\u003e\u003cp\u003e”CMA CGM has decided to continue the Indamex service via (the) Cape of Good Hope routing with the same service schedule,” the carrier said in a customer advisory Tuesday. “This is applicable for the current vessel \u003ci\u003eCMA CGM Pelleas\u003c/i\u003e.”\u003c/p\u003e\u003cp\u003eA return to the shorter Suez route for the Indamex service \u003ca href=\"https://www.joc.com/article/cma-cgm-reinstates-suez-transits-on-india-us-route-5789989\"\u003ewas to begin with the \u003ci\u003eCMA Pelleas\u003c/i\u003e departing from Pakistan’s Port Qasim on Nov. 13\u003c/a\u003e. The revamped service was to offer transit times of 31 days from Nhava Sheva in India to New York, down from between 35 and 40 days with the current longer rotation.  \u003c/p\u003e\u003cp\u003eIndamex is arguably the most sought-after network by exporters on the India-US trade lane. \u003c/p\u003e\u003cp\u003eThe Gemini Cooperation of Maersk and Hapag-Lloyd in early October announced it had \u003ca href=\"https://www.joc.com/article/maersk-rules-out-suez-canal-routings-for-gemini-launch-5746470\"\u003eruled out Suez sailings\u003c/a\u003e for its network that will launch next February. \u003c/p\u003e\u003cdiv class=\"wrapper-narrow\"\u003e\u003cdynamic-object type=\"jocchartid\" resource-id=\"893ffa5c-0a69-45c7-a555-425e44318711\"\u003e\u003c/dynamic-object\u003e\u003c/div\u003e\u003cp\u003eMeanwhile, CMA CGM has issued a trade advisory announcing a peak season surcharge of $1,500 per container for Indian loads to the US East and Gulf coasts from Dec.5. The planned hike comes as rates on the trade lane continue to drop week on week, with forwarder sources now reporting quotes of $1,900 per FEU from some of the carriers, particularly Ocean Network Express, amid the demand downturn. \u003c/p\u003e\u003cp\u003ePlatts, a sister company of the \u003ci\u003eJournal of Commerce\u003c/i\u003e within S\u0026amp;P Global, pegged India-USEC spot rates at $2,400 per FEU as of Nov. 11, down 2% on the week. \u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Bency Mathew 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":"Bency Mathew, Special Correspondent","AuthorCompanyOrEventLink":null,"PaywallLocked":true,"FeatureImageCopyright":"CMA CGM changed course over the weekend on its plan to reinstate a shorter Suez Canal routing for the Indamex service. Photo credit: MartinLueke / Shutterstock.com.","__typename":"Metadata"},"ModDate":"1731433215137","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"}],"__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1731420014000","TitlePlainText":"CMA CGM does U-turn on Suez Canal resumption for Indamex service","Published":true,"Redirects":[{"Path":"/article/cma-cgm-does-u-turn-on-suez-canal-resumption-for-indamex-service-5791375","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eWhile there was no official word as to what caused the flip-flop on the part of the carrier, sources believe the security situation in the Red Sea remains too volatile for carriers to consider returning to the Suez route.\u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"While there was no official word as to what caused the flip-flop on the part of the carrier, sources believe the security situation in the Red Sea remains too volatile for carriers to consider returning to the Suez route.","__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":"5790073_JournalOfCommerce","Attachments":[{"FileName":"5790070_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eThe outlook for an end to the shutdown of Canada’s first, second and fourth-largest ports darkened over the weekend, after British Columbia foremen and Montreal port workers separately rejected what waterfront employers called their final wage offer. \u003c/p\u003e\u003cp\u003eMontreal employers on Monday locked out Canadian Union of Public Employees Local 375 after the union rejected an offer to end disruptions that initially targeted two of the marine terminals beginning Oct. 31. The International Longshore and Warehouse Union Local 514 on Saturday also rejected the latest contract proposal from employers at the ports of Vancouver and Prince Rupert, which \u003ca href=\"https://www.joc.com/article/ships-waiting-out-bc-port-closures-in-hopes-of-quick-deal-with-longshore-union-5786677\"\u003eNov. 4 locked out the foremen\u003c/a\u003e, effectively shutting down Canada’s largest port. \u003c/p\u003e\u003cp\u003eMost vessels have been waiting out the closures at the three ports, but diversions of cargo to other ports are occurring as the work stoppages continue. Class I railroads Canadian National Railway and Canadian Pacific Kansas City have stopped moving exports and empty containers into Montreal. \u003c/p\u003e\u003cp\u003eThe \u003ca href=\"https://www.joc.com/article/employer-labor-tensions-in-north-america-disrupting-more-cargo-5787466\"\u003eTrudeau government has urged both sides\u003c/a\u003e to keep negotiating, with the Canada’s labor minister on Thursday stating on X that labor negotiations on both coasts were progressing at an “insufficient pace, indicating a concerning absence of urgency from the parties involved.” \u003c/p\u003e\u003cp\u003e“It’s obvious that there are no negotiations, and that the government needs to act by offering both sides a path to reach a genuine industrial peace,” Julie Gascon, president and CEO of the Montreal Port Authority, said in a Thursday statement. \u003c/p\u003e\u003cp\u003eStalemates coast to coast \u003c/p\u003e\u003cp\u003eThe British Columbia Maritime Employers Association (BCMEA) is holding firm to a 19.2% wage increase over four years for longshore foremen, who have been without a contract since March 2023. The BCMEA has said that while it’s not asking for any concessions from Local 514, it could eliminate a proposed signing bonus or reduce wage increases in subsequent offers if the union rejects this offer. \u003c/p\u003e\u003cp\u003eMontreal’s Maritime Employers Association (MEA) said its rejected offer would increase wages for all unionized longshore workers at the port, the country’s second largest, by more than 20% over six years. The union has been working without a contract since the end of 2023. \u003c/p\u003e\u003cp\u003eThe ongoing shutdown of British Columbia container ports is roiling various Canadian industries. The Canadian Chamber of Commerce, which sent a letter Friday on behalf of 116 industry and trade groups, said agriculture, forestry, mining and manufacturing have been negatively impacted, along with retail and consumer good importers. \u003c/p\u003e\u003cp\u003e“Last year’s \u003ca href=\"https://www.joc.com/article/western-canada-port-strike-ends-after-deal-reached-on-tentative-four-year-contract-5202113\"\u003e13-day strike\u003c/a\u003e resulted in exports from British Columbia ports falling 23% in July, hitting their lowest point since the COVID-19 pandemic began,” the letter said. “Canadians cannot afford another labor disruption involving our critical infrastructure.” \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":"British Columbia’s maritime employers hope mediated talks will help end a work stoppage there, while Montreal’s port also requests government help. Photo credit: Jeff Whyte / Shutterstock.com.","__typename":"Metadata"},"ModDate":"1731358094623","Taxonomy":{"MainCategory":[{"Id":"42","Name":"North American ports","Redirects":[{"Path":"/maritime/port-news/north-american-ports","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"AdditionalCategories":[{"Id":"9","Name":"Container Shipping News","Redirects":[{"Path":"/maritime/container-shipping-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"43","Name":"Marine terminals","Redirects":[{"Path":"/maritime/port-news/marine-terminals","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"45","Name":"Longshore labor","Redirects":[{"Path":"/maritime/port-news/longshore-labor","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"Michael Angell, Senior Editor","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1731096554000","TitlePlainText":"Port lockouts extend from BC ports to Montreal","Published":true,"Redirects":[{"Path":"/article/port-lockouts-extend-from-bc-ports-to-montreal-5790073","__typename":"Redirect"},{"Path":"/article/bc-montreal-ports-look-for-federal-assistance-to-end-longshore-impasses-5790073","__typename":"Redirect"},{"Path":"/article/bc-montreal-ports-look-for-federal-assist-to-end-longshore-impasses-5790073","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eCoast-to-coast work stoppages at Canadian ports have ground container operations to a halt, with port employers saying their best offers for new dockworker contracts are on the table.\u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"Coast-to-coast work stoppages at Canadian ports have ground container operations to a halt, with port employers saying their best offers for new dockworker contracts are on the table.","__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":"5788729_JournalOfCommerce","Attachments":[{"FileName":"5788608_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eContainer lines on the India-US trades are navigating intense rate pressure amid the downturn in headhaul volumes, according to local market updates. \u003c/p\u003e\u003cp\u003eSpot rates from West India to the US East Coast have dropped between $2,500 and $3,000 per TEU over the last month or so, freight forwarders who spoke with the \u003ci\u003eJournal of Commerce \u003c/i\u003esay. \u003c/p\u003e\u003cp\u003eSources put current average rates at $2,200 per TEU and $2,300 per FEU for the lead carriers on the trade lane, while reporting even lower rates from a few carriers working on slot rights, mainly OOCL and HMM, for large-volume accounts. \u003c/p\u003e\u003cp\u003eBy carrier, published booking rates as of Thursday for loads from Nhava Sheva/Mundra to New York stand at: Maersk — $2,097 per TEU and $2,385 per FEU; CMA CGM — $2,332 and $2,732; Hapag-Lloyd — $2,432 and $2,832; Ocean Network Express — $2,539 and $2,784; Cosco Shipping — $2,246 and $2,501; and OOCL — $2,146 and $2,401, data obtained from forwarders shows. \u003c/p\u003e\u003cp\u003eForwarder executives generally expect booking prices on the route to fall to $2,000 per TEU by late November and to about $1,800 in early December, a level at which carriers were signing contracts in May before the sharp spike that began in mid-June. \u003c/p\u003e\u003cp\u003ePlatts, a sister company of the \u003ci\u003eJournal of Commerce\u003c/i\u003e within S\u0026amp;P Global, pegged India-USEC spot rates at $2,450 per FEU as of Nov. 5, the lowest since mid-June and down from $5,300 per FEU two months ago. \u003c/p\u003e\u003cdiv class=\"wrapper-narrow\"\u003e\u003cdynamic-object type=\"jocchartid\" resource-id=\"893ffa5c-0a69-45c7-a555-425e44318711\"\u003e\u003c/dynamic-object\u003e\u003c/div\u003e\u003cp\u003e“India-USEC ocean rates seem to be going back to the late-second-quarter trendline,” a sales executive at a Mumbai-based forwarding house who didn’t want to be identified told the \u003ci\u003eJournal of Commerce\u003c/i\u003e. “This downward shift could continue through December.” \u003c/p\u003e\u003cp\u003eForwarders also noted that some recent India-USEC sailings have had difficulty filling space at Nhava Sheva and Mundra in line with declared allocation plans. Schedule disruptions also persist on the trade lane because of the Red Sea-linked diversions and network realignments, with three November calls out of West India expected to be voided. \u003c/p\u003e\u003cp\u003eStill, major carriers have lined up a fresh round of rate increases for early December, including a $1,000-per-container hike announcement by Hapag-Lloyd. However, forwarders do not believe carriers have an opportunity to attempt any measurable price hikes in the immediate future. \u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Bency Mathew at \u003c/i\u003e\u003ca href=\"mailto:bencyvmathew@gmail.com\"\u003e\u003ci\u003ebencyvmathew@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":"Sources put current average rates at $2,200 per TEU and $2,300 per FEU for the lead carriers on the India-US East Coast trade lane. Photo credit: DP World Subcontinent.","__typename":"Metadata"},"ModDate":"1730998635010","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":"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":"1730994016000","TitlePlainText":"India-USEC rates hit four-month low amid sagging cargo volumes: forwarders","Published":true,"Redirects":[{"Path":"/article/india-usec-rates-hit-four-month-low-amid-sagging-cargo-volumes-forwarders-5788729","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eSources also noted that some recent sailings on the trade lane have had difficulty filling space at Nhava Sheva and Mundra in line with declared allocation plans.\u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"Sources also noted that some recent sailings on the trade lane have had difficulty filling space at Nhava Sheva and Mundra in line with declared allocation plans.","__typename":"Document"},{"Id":"5788606_JournalOfCommerce","Attachments":[{"FileName":"5788604_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eThe trans-Atlantic ocean corridor has returned to the “calm waters” mode that typically characterizes the westbound trade lane, with rates trending down into November and US import volume flattening out into the fourth quarter. \u003c/p\u003e\u003cp\u003eThere is no sign of any rush to frontload ahead of potential tariff increases on European imports by the new US administration or to get cargo moving before a possible second strike by the International Longshoremen’s Association (ILA) when \u003ca href=\"https://www.joc.com/article/ila-usmx-say-to-resume-talks-on-new-master-contract-in-november-5778794\"\u003eits extended contract expires on Jan. 15\u003c/a\u003e. \u003c/p\u003e\u003cp\u003e“The trans-Atlantic is back in calm waters ... for the moment we see a rather stable scenario,” Markus Panhauser, CEO for Germany and Switzerland at DHL Global Forwarding, told the \u003ci\u003eJournal of Commerce\u003c/i\u003e this week. Still, “today you never know which disruption comes next,” he added. \u003c/p\u003e\u003cp\u003eAverage spot rate levels on the trans-Atlantic began to spike in early August, reaching a 2024 peak of $2,700 per FEU on Oct. 11. But rates have declined over the past three weeks, according to data from 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=\"6d191095-d9b3-4aa6-8694-88b003ef4024\"\u003e\u003c/dynamic-object\u003e\u003c/div\u003e\u003cp\u003eThe North Europe to US East Coast rate this week was at $2,300 per FEU, down 5% compared with last week, Platts data showed. Mediterranean to US East Coast average spot rates are currently at $3,305 per FEU, virtually flat since the end of September, according to rate benchmarking platform Xeneta. \u003c/p\u003e\u003cp\u003eThe demand picture shows US East Coast imports from North Europe and the Mediterranean rising year over year through September, according to the latest data available from PIERS, a sister product of the \u003ci\u003eJournal of Commerce\u003c/i\u003e within S\u0026amp;P Global. \u003c/p\u003e\u003cp\u003eBut the subsequent rate decline through October and into November suggests a slowdown in volume into the fourth quarter. The latest data from Container Trades Statistics shows US September import volume from Europe at 435,540 TEUs, up just 1% on August. \u003c/p\u003e\u003cp\u003ePeter Sand, chief analyst at Xeneta, also referred to the trans-Atlantic as being back in “calm waters,” calling the trade “solid and stable” with cargo owners in no rush to ship. \u003c/p\u003e\u003cp\u003e\"It appears shippers are not expecting much disruption from a port strike or after the [US] presidential election,” he said. “There is no big surge expected in terms of volume in the coming months, but also no big drop, and instead more of a rebalancing of the inventory ratio.” \u003c/p\u003e\u003ch3\u003eCarriers removing capacity \u003c/h3\u003e\u003cp\u003eNot even the removal of 91,100 TEUs in capacity from the trade so far this year could prop up rates, with Alphaliner reporting that by October, container slots in the trans-Atlantic fleet had decreased by 8.2% year over year. \u003c/p\u003e\u003cp\u003eThe analyst said in a recent newsletter that the cellular fleet reduction was not only the result of the closure of a few loops, but also due to large ships being replaced by smaller units. \u003c/p\u003e\u003cp\u003eThe largest capacity reductions come from CMA CGM, which has withdrawn 30.9% of its trans-Atlantic capacity this year, while Cosco Shipping has cut 22.7% and Maersk 12.1%. Mediterranean Shipping Co., the largest tonnage provider on the trade lane with a 41% market share, has cut trans-Atlantic capacity this year by 7.9%, according to Alphaliner. \u003c/p\u003e\u003cp\u003eHapag-Lloyd is the only carrier to increase its trans-Atlantic fleet, adding 12,500 TEUs, or 6%, in the first 10 months of this year. \u003c/p\u003e\u003cp\u003ePanhauser said the additional capacity from Hapag-Lloyd was to accommodate demand for its popular “Quality Freight Product,” a fixed rate contract aimed at removing fluctuating prices. \u003c/p\u003e\u003cp\u003e”The QFP gave them stable volume at a healthy rate level and gave them the opportunity to secure further market volume,” he said. \u003c/p\u003e\u003cdiv class=\"wrapper-narrow\"\u003e\u003cdynamic-object type=\"jocchartid\" resource-id=\"aa9f3efb-4a9c-45c3-a66c-91651b8ebc75\"\u003e\u003c/dynamic-object\u003e\u003c/div\u003e\u003cp\u003eOcean Network Express (ONE) is the only carrier that has not yet announced its trans-Atlantic service offering from February next year. \u003c/p\u003e\u003cp\u003eAlphaliner expects ONE will soon announce a slot deal with a member of the Ocean Alliance, either CMA CGM, Cosco Shipping, OOCL or Evergreen. The Japanese-owned carrier is currently the fourth-largest carrier on the trade with a 7% market share, and most of its ships are trading in the all-water North Europe-West Coast North America loop of THE Alliance, which also serves Halifax and Port Everglades. \u003c/p\u003e\u003cp\u003eONE is in a position to jointly offer three loops out of North Europe to the US East Coast, Gulf Coast and West Coast. \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":"Carriers on the trans-Atlantic have cut 91,100 TEUs in capacity from the trade so far this year. Photo credit: Peter Gudella / Shutterstock.com.","__typename":"Metadata"},"ModDate":"1730998276740","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"}],"__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"Greg Knowler, Senior Editor Europe","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1730991614000","TitlePlainText":"‘Calm’ trans-Atlantic ocean trade shrugs off market disruption","Published":true,"Redirects":[{"Path":"/article/calm-trans-atlantic-ocean-trade-shrugs-off-market-disruption-5788606","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eThere are no signs of any rush to frontload ahead of potential tariff increases on European imports by the new US administration or to get cargo moving before a possible second strike by the ILA.\u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"There are no signs of any rush to frontload ahead of potential tariff increases on European imports by the new US administration or to get cargo moving before a possible second strike by the ILA.","__typename":"Document"},{"Id":"5787466_JournalOfCommerce","Attachments":[{"FileName":"5787232_0.1.jpg","FileType":"Nondownloadable","Title":null,"__typename":"Attachment"},{"FileName":"5787453_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cdiv class=\"wrapper-narrow float-right-element\"\u003e\u003cimg src=\"/images/phoenix/5787232_0.1.jpg\"\u003e\u003c/img\u003e\u003c/div\u003e\u003cp\u003eThat six port worker unions stretching across North America were all negotiating their contracts over approximately the last 18 months was a fluke of timing. That negotiations with waterfront employees deteriorated in four of those contract cycles to the point that cargo flow was slowed or halted entirely at nearly all US ports on the East, Gulf and West coasts at some point can’t be easily written off. \u003c/p\u003e\u003cp\u003eOf those six separate union negotiations, two were settled without labor action: the International Longshore and Warehouse Union’s (ILWU’s) office clerical unit agreed to a seven-year contract in late 2023, and Halifax union locals did the same for a contract lasting through 2025. \u003c/p\u003e\u003cp\u003eThree of the union negotiations collapsed this fall, leading to \u003ca href=\"https://www.joc.com/article/ships-waiting-out-bc-port-closures-in-hopes-of-quick-deal-with-longshore-union-5786677\"\u003emarine terminals locking out foremen\u003c/a\u003e in Western Canada this week amid \u003ca href=\"https://www.joc.com/article/montreal-warns-of-vessel-diversions-as-strike-against-msc-terminals-begins-5783311\"\u003eongoing strikes at two Montreal marine terminals\u003c/a\u003e, which came on the heels of the three-day strike early last month by the International Longshoremen’s Association (ILA) at ports along the US East and Gulf coasts. \u003c/p\u003e\u003cp\u003eThe extent and tactics of the labor actions deployed by the various unions during contract negotiations have varied. But the severity of labor actions and employer responses in three of the four recent and ongoing contracting cycles have arguably been greater than in respective past cycles. The one outlier was ILWU dockworkers engaging in quick-hit, rolling work slowdowns in the 15 months leading up to reaching a tentative agreement in August 2023 that were less severe than when negotiations hit a wall in the prior contract cycle. \u003c/p\u003e\u003cp\u003eThis year, it took three days before the White House turned up the heat on the ILA and the United States Maritime Alliance (USMX), which represents major container lines, to reach a tentative deal, ending the Oct. 1–3 strike. It was the first strike along those coasts in nearly 50 years and could occur again if both sides can’t come to an agreement on \u003ca href=\"https://www.joc.com/article/despite-tentative-wage-deal-usmx-and-ila-have-bumpy-road-ahead-on-other-key-issues-5743997\"\u003eautomation and other issues\u003c/a\u003e by Jan. 15. \u003c/p\u003e\u003cp\u003eBy Donald Trump’s second presidential inauguration on Jan. 20, the election pressure to avoid upsetting labor, which the Biden administration was under, will be gone. \u003c/p\u003e\u003ch3\u003eStrikes return to Western Canada port\u003c/h3\u003e\u003cp\u003e\u003c/p\u003e\u003cp\u003eAn anticipated change in power in Canada, as Prime Minister Justin Trudeau grasps to hold his seat in a shaky government coalition, may provoke more aggressive responses to port strikes there. But until then, the industry has learned to expect a weaker response from Ottawa to freight transportation disruptions compared with the prior Conservative government. \u003c/p\u003e\u003cp\u003eDuring his nine-year tenure, Trudeau has waited more than two weeks to end various port strikes and a political protest in 2020 that shut down western rail networks. Under his watch, Canada in August experienced its first nationwide strike, albeit only 17 hours, involving both Class I railroads since 1987. Conservative coziness with organized labor has tempered Parliament from ordering unions back to work. \u003c/p\u003e\u003cp\u003eIn 2023, the ILWU launched a 13-day longshore strike at the ports of Vancouver and Prince Rupert. Following a one-day strike, marine terminals locked out ILWU foremen Nov. 4. The ILWU Local 514 refuses to support the installation of remotely operated rail-mounted gantries. \u003c/p\u003e\u003cp\u003eThe ILWU Canada contract cycle used to be less fraught. In May 2019, there was an announcement of a 24-hour lockout by West Coast employers after contract negotiations hit a stalemate over the ILWU’s opposition to semi-automation at the rail facility serving the Deltaport terminal. However, Prince Rupert operations were unfazed, a sign of the calmer coastal labor atmosphere before the union local fully backed the nearly two-week strike in 2023. \u003c/p\u003e\u003ch3\u003eMontreal labor tension boils over \u003c/h3\u003e\u003cp\u003eTo the east, relations between unionized port workers and Montreal waterfront employers have been rocky for years, with federal arbitration ending strikes in 2020 and 2021 but not bridging the deep divisions on salaries, wage guarantees and paid vacation in which workers aren’t on call. The Local 375 of the Canadian Union of Public Employees on Oct. 31 launched an indefinite strike against two marine terminals serving Mediterranean Shipping Co., the carrier deploying the most ocean capacity in Montreal and to Canada. \u003c/p\u003e\u003cp\u003eAdding another dimension to the standoff, the ILA local representing Montreal clerks and checkers is resisting technology at both facilities that converts images to text, a move the union estimates will at least halve the needed labor force. \u003c/p\u003e\u003cp\u003eWhile Montreal port workers and B.C. foremen’s labor actions may be emboldened by ILA labor uncertainty on the US East and Gulf coasts, unions negotiate separately and there is little history of coordinating to gain significant leverage. Rather, unions in general claim solidarity with their striking brethren but rarely refuse to handle diverted cargo, which would be operationally challenging. \u003c/p\u003e\u003cp\u003eWhat unites the six unions is an existential fear of automation and a firmer understanding of their ability to control supply chains to get a larger piece of what they see as outstanding profits for the container shipping industry. Container lines are on track this year to nearly double their profits to $50 billion compared with last year, according to maritime consultancy Drewry. That the industry’s 2025 profits will pale in comparison with the $300 billion recorded in 2022 won’t likely change what labor thinks it deserves. \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":"International Longshore and Warehouse Union (Canada) members are protesting being locked out of Vancouver and Prince Rupert marine terminals by employers. Photo credit: Don MacKinnon / AFP via Getty Images.","__typename":"Metadata"},"ModDate":"1731004034520","Taxonomy":{"MainCategory":[{"Id":"45","Name":"Longshore labor","Redirects":[{"Path":"/maritime/port-news/longshore-labor","__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":"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":"Mark Szakonyi, Executive Editor","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1730986515000","TitlePlainText":"Employer-labor tensions in North America disrupting more cargo","Published":true,"Redirects":[{"Path":"/article/employer-labor-tensions-in-north-america-disrupting-more-cargo-5787466","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eThe disruptions coming out of disagreements during port work contract negotiations in North America have intensified, as seen currently in Western Canada and Montreal, and possibly again on the US East and Gulf coasts come mid-January. \u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"The disruptions coming out of disagreements during port work contract negotiations in North America have intensified, as seen currently in Western Canada and Montreal, and possibly again on the US East and Gulf coasts come mid-January.","__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":"5787362_JournalOfCommerce","Attachments":[{"FileName":"5787358_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eAverage air cargo rates from China to North America and Europe have hit their highest levels this year as peak season demand and cargo flows in preparation for November’s e-commerce online promotions begin to gear up. \u003c/p\u003e\u003cp\u003eThe rate from Shanghai to North America this week reached $6.79 per kilogram, up 7% from last week and 30% higher year over year, according to the Baltic Air Index (BAI). Shanghai-North Europe rates hit $4.85/kg, up 9% on the week and a year-over-year increase of 18%. \u003c/p\u003e\u003cp\u003e“Alongside e-commerce growth, the launch of new electronic goods and products has driven prices upward,” Kathy Liu, vice president of global sales and marketing at Taiwan-based forwarder Dimerco Express Group, said in a market update this week. \u003c/p\u003e\u003cp\u003e”The traditional peak season began in mid-October, immediately following China’s Golden Week holiday,” she added. “November is anticipated to be the peak month of 2024, particularly for shipments destined for the US and Europe.” \u003c/p\u003e\u003cp\u003eLiu noted that air freight capacity within intra-Asia routes was extremely limited as airlines allocated a greater portion of first-leg allotments to long-haul shipments that carried higher revenue potential. \u003c/p\u003e\u003cp\u003eAir cargo on the main Asian routes to North America and Europe has effectively been in peak season mode all year with the volume dominated by China’s e-commerce exports. Global air cargo recorded double-digit year-over-year demand growth in all 10 months through October and is on track to finish the year up approximately 14% year over year, according to rate benchmarking platform Xeneta. \u003c/p\u003e\u003cp\u003e“This puts air cargo demand safely on course to report double-digit growth in 2024, and not even zero growth in November or December is going to disrupt this,” Niall van de Wouw, Xeneta’s chief air cargo officer, wrote in a market update this week. \u003c/p\u003e\u003ch3\u003eRegulatory clampdown on ‘de minimis’ goods \u003c/h3\u003e\u003cp\u003eWhile the year will end on a high for the air freight industry, there is growing pressure on regulators in the US to clamp down on Chinese imports and reduce the generous $800 “de minimis” value threshold under which goods do not have to pay a duty. \u003c/p\u003e\u003cp\u003eThe e-commerce platforms in the past 18 months have factored this into their business models that almost exclusively use air cargo for shipments to the US, but the regulatory pressure is likely to be turned up under the new Trump administration. \u003c/p\u003e\u003cp\u003e“The Biden administration proposed excluding large swaths of Chinese imports from de minimis eligibility,” Judah Levine, head of research at freight marketplace Freightos, said in a report this week. “If Trump moves forward with something similar, it could be a major challenge to the surge of Chinese goods arriving by air via platforms like Shein and Temu.” \u003c/p\u003e\u003cp\u003eIf there is a clampdown, it will not only be the Chinese e-commerce platforms that come into the regulatory crosshairs. A report from stock market data provider AltIndex released Wednesday shows that most products sold by Amazon are made in China. \u003c/p\u003e\u003cp\u003e”Statistics show that 71% of the products that wholesalers and retailers sell on Amazon are produced in China, or 2.4 times more than in the United States, illustrating China’s importance for Amazon’s business,” AltIndex said. \u003c/p\u003e\u003cp\u003eAmazon has a 40% share of total e-commerce sales in its home US market, with products made in the US accounting for 30% of the company’s total goods sold and India third at 14%, according to industry data. \u003c/p\u003e\u003cp\u003eOn the trans-Atlantic, Europe to North America saw a month-over-month volume increase of 11% in October, according to Xeneta. Backhaul volume rose 10% sequentially in October as shippers and forwarders took precautionary measures to lessen the impact of the \u003ca href=\"https://www.joc.com/article/ripple-effects-playing-out-globally-from-ila-strike-analyst-5751171\"\u003ethree-day strike by dockworkers\u003c/a\u003e at US East Coast and Gulf Coast ports. \u003c/p\u003e\u003cp\u003eAir cargo rates from North Europe to North America have remained elevated all year and are currently at $1.84/kg, unchanged from the same week last year, according to the BAI. Xeneta expects the rise in trans-Atlantic air freight rates to continue with airlines’ winter schedules, leading to reduced cargo capacity from the end of October. \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":"Air cargo on the main Asian routes to North America and Europe has effectively been in peak season mode all year. Photo credit: supakitswn / Shutterstock.com.","__typename":"Metadata"},"ModDate":"1730920703913","Taxonomy":{"MainCategory":[{"Id":"3","Name":"Air Cargo","Redirects":[{"Path":"/air-cargo","__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":"14","Name":"Air Cargo Carriers News","Redirects":[{"Path":"/air-cargo/air-cargo-carriers-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":"36","Name":"Forwarding","Redirects":[{"Path":"/maritime/container-shipping-news/forwarding","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"Greg Knowler, Senior Editor Europe","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1730912174000","TitlePlainText":"Air cargo peak season elevates as Chinese export rates hit 2024 high","Published":true,"Redirects":[{"Path":"/article/air-cargo-peak-season-elevates-as-chinese-export-rates-hit-2024-high-5787362","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eVolume and rates on the Asian export corridors to the US and Europe have been high all year and online shopping promotions in November are further stoking the market.\u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"Volume and rates on the Asian export corridors to the US and Europe have been high all year and online shopping promotions in November are further stoking the market.","__typename":"Document"},{"Id":"5787246_JournalOfCommerce","Attachments":[{"FileName":"5787232_0.1.jpg","FileType":"Nondownloadable","Title":null,"__typename":"Attachment"},{"FileName":"5787230_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eMore than a year after global health agencies declared an end to the COVID-19 pandemic and nearly three years after the peak of the supply chain impact, the scars in the ocean container world have barely begun to heal. And given that market turbulence looks set to continue with a second Trump presidency, that healing may not have an opportunity for months or years to come. \u003c/p\u003e\u003cdiv class=\"wrapper-narrow float-right-element\"\u003e\u003cimg src=\"/images/phoenix/5787232_0.1.jpg\"\u003e\u003c/img\u003e\u003c/div\u003e\u003cp\u003eAdvisors to beneficial cargo owners (BCOs) say mitigating future disruption requires BCOs to proactively engage with ocean carriers and forwarders, seeking to build partnerships even if past experience suggests they end in disappointment. Yet, those advisors say, many BCOs remain stuck in a mindset of wanting to “get back what was taken from them” during the pandemic when rates soared to historic highs. \u003c/p\u003e\u003cp\u003eYet despite whatever evidence may exist of external causes of the COVID-19 supply chain crisis, some shippers, echoing politicians up to and including President Joe Biden, continue to hold a grudge against carriers to the point that they are unwilling to engage in the relationship-building that advisors say is critical to managing ocean supply chains through an era of disruption. \u003c/p\u003e\u003cp\u003eAnd that environment only looks set to continue assuming president-elect Trump makes good on threats to wage trade wars and given the possibility \u003ca href=\"https://www.joc.com/article/ila-usmx-say-to-resume-talks-on-new-master-contract-in-november-5778794\"\u003eof further East Coast labor disruption in January\u003c/a\u003e. \u003c/p\u003e\u003cp\u003e“The strained relationship between BCOs and ocean carriers post-pandemic has been significant, primarily due to repeated disruptions and lack of transparency throughout 2020–2022,” former Walmart logistics executive and current consultant Kevin Parkerson told the \u003ci\u003eJournal of Commerce.\u003c/i\u003e \u003c/p\u003e\u003cp\u003e“During this period, many BCOs felt they were deprioritized as ocean carriers reallocated capacity to secure spot rates that soared due to demand and port congestion,” Parkerson said. “This experience created a level of distrust that BCOs have struggled to overcome, as they now view carrier partnerships with caution and sometimes skepticism.” \u003c/p\u003e\u003ch3\u003e‘Revenge’ factor \u003c/h3\u003e\u003cp\u003eIn the aftermath of historically high rates combined with historically poor service, and with the experience being repeated on a smaller scale in 2024, being willing to engage with carriers is proving a tall order for many BCOs. Even when logistics teams themselves understand the value of engaging, they lack support from internal colleagues with long memories and festering resentments. \u003c/p\u003e\u003cp\u003eSuch is the magnitude of grievance that BCOs’ aim is not just to drive rates back down to pre-pandemic levels, but to “take revenge” in seeking to recover money perceived to be unjustly taken from them during the pandemic. \u003c/p\u003e\u003cp\u003e“For the last couple of years, everyone kind of had 2024 and now 2025 on the calendar as a recovery year. In other words, the time period when you can recover or get back what you feel like was taken from you, in the days of the tens of thousands of dollar rate levels,” Parkerson said. “And unfortunately, a lot of that is still the sentiment.” \u003c/p\u003e\u003cp\u003eThe process would be made easier if carriers themselves wanted to engage with customers, but even that seems to have broken down. Some carriers do wish to engage with certain customers, a trend that may pick up steam next year if the market softens under the strain of overcapacity. \u003c/p\u003e\u003cp\u003eFor their part, carriers — or at least some of them — seemed to have moved on from a prior mindset of seeking to work closely with customers. With a focus on blank sailings and a possible resurgence of slow-steaming next year to manage capacity — actions that benefit carriers at the expense of their customers — evidence of a partnership, such as quarterly business review meetings, has gone by the wayside. Carriers, meanwhile, have their own long memories of being beaten down on rates by shippers.\u003c/p\u003e\u003ch3\u003eThe need to build relationships \u003c/h3\u003e\u003cp\u003eBut BCO advisors say that however difficult or counterintuitive it may be for shippers to engage with carriers, protecting their interests and extracting maximum value out of the containerized supply chain demands it. \u003c/p\u003e\u003cp\u003e“I strongly advocate for building solid relationships with carriers and logistics service providers,” Parkerson said. “Cultivating strong, collaborative relationships with your carriers and LSPs can help mitigate some of the impacts of disruptions. While it may not eliminate challenges entirely, it can certainly soften the effects.” \u003c/p\u003e\u003cp\u003eOthers agree. In a \u003ca href=\"https://www.joc.com/article/bco-partnerships-with-carriers-often-fail-but-are-still-critical-5780305\"\u003erecent \u003ci\u003eJournal of Commerce\u003c/i\u003e commentary\u003c/a\u003e, former Newell Brands logistics leader Kristian Ording described an effort to improve volume forecasts provided by carriers, only to see the relationship get undermined under the strain of tight capacity. “As capacity tightened, unfortunately many of the carriers resorted to not confirming forecasts until the last minute, and in some cases either not confirming at all or accepting less bookings than forecast [and at times even (less) than allocated],” he wrote. \u003c/p\u003e\u003cp\u003eNevertheless, Ording said, he would still not give up on trying to strengthen partnerships with carriers when other opportunities arose. \u003c/p\u003e\u003cp\u003e“Despite sometimes disappointing outcomes even following the best of intentions, it is still worth the effort for beneficial cargo owners to take the steps toward building partnerships with carriers and forwarders that can withstand the ever more frequent swings in the market,” he wrote. “I hope shippers keep this in mind as we all gear up for the 2025 contracting cycle.” \u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Peter Tirschwell at \u003c/i\u003e\u003ca href=\"mailto:peter.tirschwell@spglobal.com\"\u003e\u003ci\u003epeter.tirschwell@spglobal.com\u003c/i\u003e\u003c/a\u003e\u003ci\u003e.\u003c/i\u003e \u003c/p\u003e\u003c/div\u003e","Metadata":{"BylineOverwrite":null,"AuthorCompanyOrEventLink":null,"PaywallLocked":true,"FeatureImageCopyright":"The strained relationship between BCOs and ocean carriers after the pandemic has been “significant,” one BCO advisor told the Journal of Commerce. Photo credit: Ceri Breeze / Shutterstock.com.","__typename":"Metadata"},"ModDate":"1730927954850","Taxonomy":{"MainCategory":[{"Id":"1","Name":"Maritime","Redirects":[{"Path":"/maritime","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"AdditionalCategories":[{"Id":"4","Name":"Supply chain","Redirects":[{"Path":"/supply-chain","__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"}],"__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"Peter Tirschwell","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1730906354000","TitlePlainText":"BCOs should forsake ‘revenge’ to build ‘collaborative’ relationships with carriers","Published":true,"Redirects":[{"Path":"/article/bcos-should-forsake-revenge-to-build-collaborative-relationships-with-carriers-5787246","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eAdvisors to beneficial cargo owners say mitigating future supply chain disruptions requires BCOs to proactively engage with ocean carriers and forwarders, seeking to build partnerships even if past experience suggests they end in disappointment.\u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"Advisors to beneficial cargo owners say mitigating future supply chain disruptions requires BCOs to proactively engage with ocean carriers and forwarders, seeking to build partnerships even if past experience suggests they end in disappointment.","__typename":"Document"}],"isError":false,"pageType":1,"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 $695! 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Business anachronisms permeate current supply chain processes. These vestiges of the way things used to work define the LTL freight transportation procurement process of many modern shippers.\u003c/span\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eDavid Knuth, logistics specialist at IEWC, a global supplier of cable and wire based in Wisconsin, is happy to have modernized the RFP process, automating the entire LTL bidding procedure with Bid$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":"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. Coverage includes the movement of containerized cargo handled by marine terminals and container ports, depots, container lines, drayage, consignees, importers and shippers, forwarders, non-vessel operating common carriers (NVOs) and off-dock warehousing providers. 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