CINXE.COM

<!DOCTYPE html><html lang="en"><head><meta charSet="utf-8"/><script>(function(w,d,s,l,i){w[l]=w[l]||[];w[l].push({'gtm.start': new Date().getTime(),event:'gtm.js'});var f=d.getElementsByTagName(s)[0], j=d.createElement(s),dl=l!='dataLayer'?'&l='+l:'';j.async=true;j.src= 'https://www.googletagmanager.com/gtm.js?id='+i+dl;f.parentNode.insertBefore(j,f); })(window,document,'script','dataLayer','GTM-5H9ZMQJ');</script><meta name="robots" content="all"/><meta name="viewport" content="width=device-width, initial-scale=1.0"/><meta name="keywords" content="Journal of Commerce, container shipping, breakbulk, international logistics, supply chain management, news, trends, analysis, business intelligence, strategies"/><link rel="preconnect" href="https://fonts.googleapis.com"/><link rel="preconnect" href="https://fonts.gstatic.com"/><link rel="icon" type="image/x-icon" href="/favicon.ico"/><link rel="apple-touch-icon" sizes="180x180" href="/apple-touch-icon.png"/><link rel="apple-touch-icon" sizes="120x120" href="/apple-touch-icon-120x120.png"/><link rel="apple-touch-icon" sizes="57x57" href="/apple-touch-icon-57x57.png"/><link rel="icon" sizes="192x192" href="/apple-touch-icon-192x192.png"/><script src="https://geoip-js.com/js/apis/geoip2/v2.1/geoip2.js" type="text/javascript"></script><script async="" src="https://securepubads.g.doubleclick.net/tag/js/gpt.js"></script><script src="https://js.chargify.com/latest/chargify.js"></script><script async="" src="https://platform.twitter.com/widgets.js" charSet="utf-8"></script><title>Strike bullet dodged for now, but raises questions of market resilience: analyst | Journal of Commerce</title><meta name="description" content="Market participants yearning for a market where adverse events never lead to major supply chain hiccups are essentially asking for a reality that has never existed, writes Lars Jensen."/><meta property="og:url" content="https://joc.com/article/strike-bullet-dodged-for-now-but-raises-questions-of-market-resilience-analyst-5745208"/><meta property="og:title" content="Strike bullet dodged for now, but raises questions of market resilience: analyst | Journal of Commerce"/><meta property="og:description" content="Market participants yearning for a market where adverse events never lead to major supply chain hiccups are essentially asking for a reality that has never existed, writes Lars Jensen."/><meta property="og:image" content="/images/phoenix/5745224_0.1.jpg"/><meta property="twitter:card" content="summary_large_image"/><meta property="twitter:domain" content="https://joc.com"/><meta property="twitter:url" content="https://joc.com/article/strike-bullet-dodged-for-now-but-raises-questions-of-market-resilience-analyst-5745208"/><meta property="twitter:title" content="Strike bullet dodged for now, but raises questions of market resilience: analyst | Journal of Commerce"/><meta property="twitter:description" content="Market participants yearning for a market where adverse events never lead to major supply chain hiccups are essentially asking for a reality that has never existed, writes Lars Jensen."/><meta property="twitter:image" content="/images/phoenix/5745224_0.1.jpg"/><meta property="og:type" content="article"/><meta property="article:published_time" content="1728398113000"/><meta property="article:section" content="Maritime"/><meta property="article:author" content="Lars Jensen, CEO and Partner, Vespucci Maritime, and Journal of Commerce Analyst "/><script type="application/ld+json">{"@context":"https://schema.org/","@graph":[{"@type":"WebSite","name":"Journal of Commerce","url":"joc.com"},{"@type":"Organization","name":"Journal of Commerce","legalName":"JOC Group","url":"joc.com","logo":"joc.com/favicon.ico","foundingDate":2003,"address":{"@type":"PostalAddress","streetAddress":"55 Water St., 39th Floor","addressLocality":"New York","addressRegion":"NY","postalCode":"10041","addressCountry":"US"},"sameAs":["https://twitter.com/JOC_Updates","https://www.facebook.com/JOCnewswire","https://www.linkedin.com/showcase/joc-group-inc-/","https://www.youtube.com/user/JOCNews"]},{"@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"item":{"@id":"joc.com","name":"Journal of Commerce"}},{"@type":"ListItem","position":2,"item":{"@id":"joc.com/maritime","name":"Maritime"}}]},{"@type":"NewsArticle","mainEntityOfPage":{"url":"joc.com/article/strike-bullet-dodged-for-now-but-raises-questions-of-market-resilience-analyst-5745208","@type":"WebPage"},"author":{"@type":"Person","name":"JOC Team"},"publisher":{"@type":"Organization","name":"Journal of Commerce","url":"joc.com","logo":{"url":"joc.com/favicon.ico","@type":"ImageObject"}},"url":"joc.com/article/strike-bullet-dodged-for-now-but-raises-questions-of-market-resilience-analyst-5745208","headline":"Strike bullet dodged for now, but raises questions of market resilience: analyst","datePublished":"Oct 8, 2024, 10:35 AM EDT","image":[{"@type":"ImageObject","url":"joc.com/images/phoenix/5745224_0.1.jpg"}],"hasPart":{"cssSelector":"article-contents","@type":"WebPageElement"}}]}</script><meta name="next-head-count" content="34"/><link rel="preconnect" href="https://fonts.gstatic.com" crossorigin /><link rel="preload" href="/_next/static/media/16d8c105238cc6fb-s.p.woff2" as="font" type="font/woff2" crossorigin="anonymous" data-next-font="size-adjust"/><link rel="preload" href="/_next/static/media/458c0800366b9d51-s.p.woff2" as="font" type="font/woff2" crossorigin="anonymous" data-next-font="size-adjust"/><link rel="preload" href="/_next/static/media/287321aa93e461f3-s.p.woff2" as="font" type="font/woff2" crossorigin="anonymous" data-next-font="size-adjust"/><link rel="preload" href="/_next/static/css/69208ab7aee980b7.css" as="style"/><link rel="stylesheet" href="/_next/static/css/69208ab7aee980b7.css" data-n-g=""/><link rel="preload" href="/_next/static/css/411d4d6684057f92.css" as="style"/><link rel="stylesheet" href="/_next/static/css/411d4d6684057f92.css" data-n-p=""/><noscript data-n-css=""></noscript><script defer="" nomodule="" src="/_next/static/chunks/polyfills-42372ed130431b0a.js"></script><script src="/_next/static/chunks/webpack-6bcc4808c5449b67.js" defer=""></script><script src="/_next/static/chunks/framework-ba89a7b933c4ac4c.js" defer=""></script><script src="/_next/static/chunks/main-a84c398976e470c3.js" defer=""></script><script src="/_next/static/chunks/pages/_app-cd0f472b43ff3ba7.js" defer=""></script><script src="/_next/static/chunks/75227768-7f1deb795a4838df.js" defer=""></script><script src="/_next/static/chunks/1892-38418978e9ca540c.js" defer=""></script><script src="/_next/static/chunks/7814-a36ea65be1ae61e1.js" defer=""></script><script src="/_next/static/chunks/1704-1fee114440fe18a8.js" defer=""></script><script src="/_next/static/chunks/9177-08236026223bce7d.js" defer=""></script><script src="/_next/static/chunks/9665-51e089a53326881f.js" defer=""></script><script src="/_next/static/chunks/pages/%5B...slug%5D-7b72d1dcc0cc4e49.js" defer=""></script><script src="/_next/static/ySTwj_LF9YWGrQLC0ryEK/_buildManifest.js" defer=""></script><script src="/_next/static/ySTwj_LF9YWGrQLC0ryEK/_ssgManifest.js" defer=""></script><style id="__jsx-3195947403">body{font-family:'__Akkurat_9c005d', '__Akkurat_Fallback_9c005d'}</style><style data-href="https://fonts.googleapis.com/css2?family=Source+Sans+Pro:ital,wght@0,300;0,400;0,600;0,700;0,900;1,300;1,400;1,700&display=swap">@font-face{font-family:'Source Sans Pro';font-style:italic;font-weight:300;font-display:swap;src:url(https://fonts.gstatic.com/s/sourcesanspro/v22/6xKwdSBYKcSV-LCoeQqfX1RYOo3qPZZMkhdo.woff) format('woff')}@font-face{font-family:'Source Sans Pro';font-style:italic;font-weight:400;font-display:swap;src:url(https://fonts.gstatic.com/s/sourcesanspro/v22/6xK1dSBYKcSV-LCoeQqfX1RYOo3qPa7j.woff) format('woff')}@font-face{font-family:'Source Sans Pro';font-style:italic;font-weight:700;font-display:swap;src:url(https://fonts.gstatic.com/s/sourcesanspro/v22/6xKwdSBYKcSV-LCoeQqfX1RYOo3qPZZclRdo.woff) format('woff')}@font-face{font-family:'Source Sans Pro';font-style:normal;font-weight:300;font-display:swap;src:url(https://fonts.gstatic.com/s/sourcesanspro/v22/6xKydSBYKcSV-LCoeQqfX1RYOo3ik4zAkw.woff) format('woff')}@font-face{font-family:'Source Sans Pro';font-style:normal;font-weight:400;font-display:swap;src:url(https://fonts.gstatic.com/s/sourcesanspro/v22/6xK3dSBYKcSV-LCoeQqfX1RYOo3aPA.woff) format('woff')}@font-face{font-family:'Source Sans Pro';font-style:normal;font-weight:600;font-display:swap;src:url(https://fonts.gstatic.com/s/sourcesanspro/v22/6xKydSBYKcSV-LCoeQqfX1RYOo3i54rAkw.woff) format('woff')}@font-face{font-family:'Source Sans Pro';font-style:normal;font-weight:700;font-display:swap;src:url(https://fonts.gstatic.com/s/sourcesanspro/v22/6xKydSBYKcSV-LCoeQqfX1RYOo3ig4vAkw.woff) format('woff')}@font-face{font-family:'Source Sans Pro';font-style:normal;font-weight:900;font-display:swap;src:url(https://fonts.gstatic.com/s/sourcesanspro/v22/6xKydSBYKcSV-LCoeQqfX1RYOo3iu4nAkw.woff) format('woff')}@font-face{font-family:'Source Sans Pro';font-style:italic;font-weight:300;font-display:swap;src:url(https://fonts.gstatic.com/s/sourcesanspro/v22/6xKwdSBYKcSV-LCoeQqfX1RYOo3qPZZMkidh18S0xR41YDw.woff2) format('woff2');unicode-range:U+0460-052F,U+1C80-1C8A,U+20B4,U+2DE0-2DFF,U+A640-A69F,U+FE2E-FE2F}@font-face{font-family:'Source Sans Pro';font-style:italic;font-weight:300;font-display:swap;src:url(https://fonts.gstatic.com/s/sourcesanspro/v22/6xKwdSBYKcSV-LCoeQqfX1RYOo3qPZZMkido18S0xR41YDw.woff2) format('woff2');unicode-range:U+0301,U+0400-045F,U+0490-0491,U+04B0-04B1,U+2116}@font-face{font-family:'Source Sans Pro';font-style:italic;font-weight:300;font-display:swap;src:url(https://fonts.gstatic.com/s/sourcesanspro/v22/6xKwdSBYKcSV-LCoeQqfX1RYOo3qPZZMkidg18S0xR41YDw.woff2) format('woff2');unicode-range:U+1F00-1FFF}@font-face{font-family:'Source Sans Pro';font-style:italic;font-weight:300;font-display:swap;src:url(https://fonts.gstatic.com/s/sourcesanspro/v22/6xKwdSBYKcSV-LCoeQqfX1RYOo3qPZZMkidv18S0xR41YDw.woff2) format('woff2');unicode-range:U+0370-0377,U+037A-037F,U+0384-038A,U+038C,U+038E-03A1,U+03A3-03FF}@font-face{font-family:'Source Sans Pro';font-style:italic;font-weight:300;font-display:swap;src:url(https://fonts.gstatic.com/s/sourcesanspro/v22/6xKwdSBYKcSV-LCoeQqfX1RYOo3qPZZMkidj18S0xR41YDw.woff2) format('woff2');unicode-range:U+0102-0103,U+0110-0111,U+0128-0129,U+0168-0169,U+01A0-01A1,U+01AF-01B0,U+0300-0301,U+0303-0304,U+0308-0309,U+0323,U+0329,U+1EA0-1EF9,U+20AB}@font-face{font-family:'Source Sans Pro';font-style:italic;font-weight:300;font-display:swap;src:url(https://fonts.gstatic.com/s/sourcesanspro/v22/6xKwdSBYKcSV-LCoeQqfX1RYOo3qPZZMkidi18S0xR41YDw.woff2) format('woff2');unicode-range:U+0100-02BA,U+02BD-02C5,U+02C7-02CC,U+02CE-02D7,U+02DD-02FF,U+0304,U+0308,U+0329,U+1D00-1DBF,U+1E00-1E9F,U+1EF2-1EFF,U+2020,U+20A0-20AB,U+20AD-20C0,U+2113,U+2C60-2C7F,U+A720-A7FF}@font-face{font-family:'Source Sans Pro';font-style:italic;font-weight:300;font-display:swap;src:url(https://fonts.gstatic.com/s/sourcesanspro/v22/6xKwdSBYKcSV-LCoeQqfX1RYOo3qPZZMkids18S0xR41.woff2) format('woff2');unicode-range:U+0000-00FF,U+0131,U+0152-0153,U+02BB-02BC,U+02C6,U+02DA,U+02DC,U+0304,U+0308,U+0329,U+2000-206F,U+20AC,U+2122,U+2191,U+2193,U+2212,U+2215,U+FEFF,U+FFFD}@font-face{font-family:'Source Sans Pro';font-style:italic;font-weight:400;font-display:swap;src:url(https://fonts.gstatic.com/s/sourcesanspro/v22/6xK1dSBYKcSV-LCoeQqfX1RYOo3qPZ7qsDJB9cme_xc.woff2) format('woff2');unicode-range:U+0460-052F,U+1C80-1C8A,U+20B4,U+2DE0-2DFF,U+A640-A69F,U+FE2E-FE2F}@font-face{font-family:'Source Sans Pro';font-style:italic;font-weight:400;font-display:swap;src:url(https://fonts.gstatic.com/s/sourcesanspro/v22/6xK1dSBYKcSV-LCoeQqfX1RYOo3qPZ7jsDJB9cme_xc.woff2) format('woff2');unicode-range:U+0301,U+0400-045F,U+0490-0491,U+04B0-04B1,U+2116}@font-face{font-family:'Source Sans Pro';font-style:italic;font-weight:400;font-display:swap;src:url(https://fonts.gstatic.com/s/sourcesanspro/v22/6xK1dSBYKcSV-LCoeQqfX1RYOo3qPZ7rsDJB9cme_xc.woff2) format('woff2');unicode-range:U+1F00-1FFF}@font-face{font-family:'Source Sans Pro';font-style:italic;font-weight:400;font-display:swap;src:url(https://fonts.gstatic.com/s/sourcesanspro/v22/6xK1dSBYKcSV-LCoeQqfX1RYOo3qPZ7ksDJB9cme_xc.woff2) format('woff2');unicode-range:U+0370-0377,U+037A-037F,U+0384-038A,U+038C,U+038E-03A1,U+03A3-03FF}@font-face{font-family:'Source Sans Pro';font-style:italic;font-weight:400;font-display:swap;src:url(https://fonts.gstatic.com/s/sourcesanspro/v22/6xK1dSBYKcSV-LCoeQqfX1RYOo3qPZ7osDJB9cme_xc.woff2) format('woff2');unicode-range:U+0102-0103,U+0110-0111,U+0128-0129,U+0168-0169,U+01A0-01A1,U+01AF-01B0,U+0300-0301,U+0303-0304,U+0308-0309,U+0323,U+0329,U+1EA0-1EF9,U+20AB}@font-face{font-family:'Source Sans Pro';font-style:italic;font-weight:400;font-display:swap;src:url(https://fonts.gstatic.com/s/sourcesanspro/v22/6xK1dSBYKcSV-LCoeQqfX1RYOo3qPZ7psDJB9cme_xc.woff2) format('woff2');unicode-range:U+0100-02BA,U+02BD-02C5,U+02C7-02CC,U+02CE-02D7,U+02DD-02FF,U+0304,U+0308,U+0329,U+1D00-1DBF,U+1E00-1E9F,U+1EF2-1EFF,U+2020,U+20A0-20AB,U+20AD-20C0,U+2113,U+2C60-2C7F,U+A720-A7FF}@font-face{font-family:'Source Sans Pro';font-style:italic;font-weight:400;font-display:swap;src:url(https://fonts.gstatic.com/s/sourcesanspro/v22/6xK1dSBYKcSV-LCoeQqfX1RYOo3qPZ7nsDJB9cme.woff2) format('woff2');unicode-range:U+0000-00FF,U+0131,U+0152-0153,U+02BB-02BC,U+02C6,U+02DA,U+02DC,U+0304,U+0308,U+0329,U+2000-206F,U+20AC,U+2122,U+2191,U+2193,U+2212,U+2215,U+FEFF,U+FFFD}@font-face{font-family:'Source Sans Pro';font-style:italic;font-weight:700;font-display:swap;src:url(https://fonts.gstatic.com/s/sourcesanspro/v22/6xKwdSBYKcSV-LCoeQqfX1RYOo3qPZZclSdh18S0xR41YDw.woff2) format('woff2');unicode-range:U+0460-052F,U+1C80-1C8A,U+20B4,U+2DE0-2DFF,U+A640-A69F,U+FE2E-FE2F}@font-face{font-family:'Source Sans Pro';font-style:italic;font-weight:700;font-display:swap;src:url(https://fonts.gstatic.com/s/sourcesanspro/v22/6xKwdSBYKcSV-LCoeQqfX1RYOo3qPZZclSdo18S0xR41YDw.woff2) format('woff2');unicode-range:U+0301,U+0400-045F,U+0490-0491,U+04B0-04B1,U+2116}@font-face{font-family:'Source Sans Pro';font-style:italic;font-weight:700;font-display:swap;src:url(https://fonts.gstatic.com/s/sourcesanspro/v22/6xKwdSBYKcSV-LCoeQqfX1RYOo3qPZZclSdg18S0xR41YDw.woff2) format('woff2');unicode-range:U+1F00-1FFF}@font-face{font-family:'Source Sans Pro';font-style:italic;font-weight:700;font-display:swap;src:url(https://fonts.gstatic.com/s/sourcesanspro/v22/6xKwdSBYKcSV-LCoeQqfX1RYOo3qPZZclSdv18S0xR41YDw.woff2) format('woff2');unicode-range:U+0370-0377,U+037A-037F,U+0384-038A,U+038C,U+038E-03A1,U+03A3-03FF}@font-face{font-family:'Source Sans Pro';font-style:italic;font-weight:700;font-display:swap;src:url(https://fonts.gstatic.com/s/sourcesanspro/v22/6xKwdSBYKcSV-LCoeQqfX1RYOo3qPZZclSdj18S0xR41YDw.woff2) format('woff2');unicode-range:U+0102-0103,U+0110-0111,U+0128-0129,U+0168-0169,U+01A0-01A1,U+01AF-01B0,U+0300-0301,U+0303-0304,U+0308-0309,U+0323,U+0329,U+1EA0-1EF9,U+20AB}@font-face{font-family:'Source Sans Pro';font-style:italic;font-weight:700;font-display:swap;src:url(https://fonts.gstatic.com/s/sourcesanspro/v22/6xKwdSBYKcSV-LCoeQqfX1RYOo3qPZZclSdi18S0xR41YDw.woff2) format('woff2');unicode-range:U+0100-02BA,U+02BD-02C5,U+02C7-02CC,U+02CE-02D7,U+02DD-02FF,U+0304,U+0308,U+0329,U+1D00-1DBF,U+1E00-1E9F,U+1EF2-1EFF,U+2020,U+20A0-20AB,U+20AD-20C0,U+2113,U+2C60-2C7F,U+A720-A7FF}@font-face{font-family:'Source Sans Pro';font-style:italic;font-weight:700;font-display:swap;src:url(https://fonts.gstatic.com/s/sourcesanspro/v22/6xKwdSBYKcSV-LCoeQqfX1RYOo3qPZZclSds18S0xR41.woff2) format('woff2');unicode-range:U+0000-00FF,U+0131,U+0152-0153,U+02BB-02BC,U+02C6,U+02DA,U+02DC,U+0304,U+0308,U+0329,U+2000-206F,U+20AC,U+2122,U+2191,U+2193,U+2212,U+2215,U+FEFF,U+FFFD}@font-face{font-family:'Source Sans Pro';font-style:normal;font-weight:300;font-display:swap;src:url(https://fonts.gstatic.com/s/sourcesanspro/v22/6xKydSBYKcSV-LCoeQqfX1RYOo3ik4zwmhdu3cOWxy40.woff2) format('woff2');unicode-range:U+0460-052F,U+1C80-1C8A,U+20B4,U+2DE0-2DFF,U+A640-A69F,U+FE2E-FE2F}@font-face{font-family:'Source Sans Pro';font-style:normal;font-weight:300;font-display:swap;src:url(https://fonts.gstatic.com/s/sourcesanspro/v22/6xKydSBYKcSV-LCoeQqfX1RYOo3ik4zwkxdu3cOWxy40.woff2) format('woff2');unicode-range:U+0301,U+0400-045F,U+0490-0491,U+04B0-04B1,U+2116}@font-face{font-family:'Source Sans Pro';font-style:normal;font-weight:300;font-display:swap;src:url(https://fonts.gstatic.com/s/sourcesanspro/v22/6xKydSBYKcSV-LCoeQqfX1RYOo3ik4zwmxdu3cOWxy40.woff2) format('woff2');unicode-range:U+1F00-1FFF}@font-face{font-family:'Source Sans Pro';font-style:normal;font-weight:300;font-display:swap;src:url(https://fonts.gstatic.com/s/sourcesanspro/v22/6xKydSBYKcSV-LCoeQqfX1RYOo3ik4zwlBdu3cOWxy40.woff2) format('woff2');unicode-range:U+0370-0377,U+037A-037F,U+0384-038A,U+038C,U+038E-03A1,U+03A3-03FF}@font-face{font-family:'Source Sans Pro';font-style:normal;font-weight:300;font-display:swap;src:url(https://fonts.gstatic.com/s/sourcesanspro/v22/6xKydSBYKcSV-LCoeQqfX1RYOo3ik4zwmBdu3cOWxy40.woff2) format('woff2');unicode-range:U+0102-0103,U+0110-0111,U+0128-0129,U+0168-0169,U+01A0-01A1,U+01AF-01B0,U+0300-0301,U+0303-0304,U+0308-0309,U+0323,U+0329,U+1EA0-1EF9,U+20AB}@font-face{font-family:'Source Sans Pro';font-style:normal;font-weight:300;font-display:swap;src:url(https://fonts.gstatic.com/s/sourcesanspro/v22/6xKydSBYKcSV-LCoeQqfX1RYOo3ik4zwmRdu3cOWxy40.woff2) format('woff2');unicode-range:U+0100-02BA,U+02BD-02C5,U+02C7-02CC,U+02CE-02D7,U+02DD-02FF,U+0304,U+0308,U+0329,U+1D00-1DBF,U+1E00-1E9F,U+1EF2-1EFF,U+2020,U+20A0-20AB,U+20AD-20C0,U+2113,U+2C60-2C7F,U+A720-A7FF}@font-face{font-family:'Source Sans Pro';font-style:normal;font-weight:300;font-display:swap;src:url(https://fonts.gstatic.com/s/sourcesanspro/v22/6xKydSBYKcSV-LCoeQqfX1RYOo3ik4zwlxdu3cOWxw.woff2) format('woff2');unicode-range:U+0000-00FF,U+0131,U+0152-0153,U+02BB-02BC,U+02C6,U+02DA,U+02DC,U+0304,U+0308,U+0329,U+2000-206F,U+20AC,U+2122,U+2191,U+2193,U+2212,U+2215,U+FEFF,U+FFFD}@font-face{font-family:'Source Sans Pro';font-style:normal;font-weight:400;font-display:swap;src:url(https://fonts.gstatic.com/s/sourcesanspro/v22/6xK3dSBYKcSV-LCoeQqfX1RYOo3qNa7lujVj9_mf.woff2) format('woff2');unicode-range:U+0460-052F,U+1C80-1C8A,U+20B4,U+2DE0-2DFF,U+A640-A69F,U+FE2E-FE2F}@font-face{font-family:'Source Sans Pro';font-style:normal;font-weight:400;font-display:swap;src:url(https://fonts.gstatic.com/s/sourcesanspro/v22/6xK3dSBYKcSV-LCoeQqfX1RYOo3qPK7lujVj9_mf.woff2) format('woff2');unicode-range:U+0301,U+0400-045F,U+0490-0491,U+04B0-04B1,U+2116}@font-face{font-family:'Source Sans Pro';font-style:normal;font-weight:400;font-display:swap;src:url(https://fonts.gstatic.com/s/sourcesanspro/v22/6xK3dSBYKcSV-LCoeQqfX1RYOo3qNK7lujVj9_mf.woff2) format('woff2');unicode-range:U+1F00-1FFF}@font-face{font-family:'Source Sans Pro';font-style:normal;font-weight:400;font-display:swap;src:url(https://fonts.gstatic.com/s/sourcesanspro/v22/6xK3dSBYKcSV-LCoeQqfX1RYOo3qO67lujVj9_mf.woff2) format('woff2');unicode-range:U+0370-0377,U+037A-037F,U+0384-038A,U+038C,U+038E-03A1,U+03A3-03FF}@font-face{font-family:'Source Sans Pro';font-style:normal;font-weight:400;font-display:swap;src:url(https://fonts.gstatic.com/s/sourcesanspro/v22/6xK3dSBYKcSV-LCoeQqfX1RYOo3qN67lujVj9_mf.woff2) format('woff2');unicode-range:U+0102-0103,U+0110-0111,U+0128-0129,U+0168-0169,U+01A0-01A1,U+01AF-01B0,U+0300-0301,U+0303-0304,U+0308-0309,U+0323,U+0329,U+1EA0-1EF9,U+20AB}@font-face{font-family:'Source Sans Pro';font-style:normal;font-weight:400;font-display:swap;src:url(https://fonts.gstatic.com/s/sourcesanspro/v22/6xK3dSBYKcSV-LCoeQqfX1RYOo3qNq7lujVj9_mf.woff2) format('woff2');unicode-range:U+0100-02BA,U+02BD-02C5,U+02C7-02CC,U+02CE-02D7,U+02DD-02FF,U+0304,U+0308,U+0329,U+1D00-1DBF,U+1E00-1E9F,U+1EF2-1EFF,U+2020,U+20A0-20AB,U+20AD-20C0,U+2113,U+2C60-2C7F,U+A720-A7FF}@font-face{font-family:'Source Sans Pro';font-style:normal;font-weight:400;font-display:swap;src:url(https://fonts.gstatic.com/s/sourcesanspro/v22/6xK3dSBYKcSV-LCoeQqfX1RYOo3qOK7lujVj9w.woff2) format('woff2');unicode-range:U+0000-00FF,U+0131,U+0152-0153,U+02BB-02BC,U+02C6,U+02DA,U+02DC,U+0304,U+0308,U+0329,U+2000-206F,U+20AC,U+2122,U+2191,U+2193,U+2212,U+2215,U+FEFF,U+FFFD}@font-face{font-family:'Source Sans Pro';font-style:normal;font-weight:600;font-display:swap;src:url(https://fonts.gstatic.com/s/sourcesanspro/v22/6xKydSBYKcSV-LCoeQqfX1RYOo3i54rwmhdu3cOWxy40.woff2) format('woff2');unicode-range:U+0460-052F,U+1C80-1C8A,U+20B4,U+2DE0-2DFF,U+A640-A69F,U+FE2E-FE2F}@font-face{font-family:'Source Sans Pro';font-style:normal;font-weight:600;font-display:swap;src:url(https://fonts.gstatic.com/s/sourcesanspro/v22/6xKydSBYKcSV-LCoeQqfX1RYOo3i54rwkxdu3cOWxy40.woff2) format('woff2');unicode-range:U+0301,U+0400-045F,U+0490-0491,U+04B0-04B1,U+2116}@font-face{font-family:'Source Sans Pro';font-style:normal;font-weight:600;font-display:swap;src:url(https://fonts.gstatic.com/s/sourcesanspro/v22/6xKydSBYKcSV-LCoeQqfX1RYOo3i54rwmxdu3cOWxy40.woff2) format('woff2');unicode-range:U+1F00-1FFF}@font-face{font-family:'Source Sans Pro';font-style:normal;font-weight:600;font-display:swap;src:url(https://fonts.gstatic.com/s/sourcesanspro/v22/6xKydSBYKcSV-LCoeQqfX1RYOo3i54rwlBdu3cOWxy40.woff2) format('woff2');unicode-range:U+0370-0377,U+037A-037F,U+0384-038A,U+038C,U+038E-03A1,U+03A3-03FF}@font-face{font-family:'Source Sans Pro';font-style:normal;font-weight:600;font-display:swap;src:url(https://fonts.gstatic.com/s/sourcesanspro/v22/6xKydSBYKcSV-LCoeQqfX1RYOo3i54rwmBdu3cOWxy40.woff2) format('woff2');unicode-range:U+0102-0103,U+0110-0111,U+0128-0129,U+0168-0169,U+01A0-01A1,U+01AF-01B0,U+0300-0301,U+0303-0304,U+0308-0309,U+0323,U+0329,U+1EA0-1EF9,U+20AB}@font-face{font-family:'Source Sans Pro';font-style:normal;font-weight:600;font-display:swap;src:url(https://fonts.gstatic.com/s/sourcesanspro/v22/6xKydSBYKcSV-LCoeQqfX1RYOo3i54rwmRdu3cOWxy40.woff2) format('woff2');unicode-range:U+0100-02BA,U+02BD-02C5,U+02C7-02CC,U+02CE-02D7,U+02DD-02FF,U+0304,U+0308,U+0329,U+1D00-1DBF,U+1E00-1E9F,U+1EF2-1EFF,U+2020,U+20A0-20AB,U+20AD-20C0,U+2113,U+2C60-2C7F,U+A720-A7FF}@font-face{font-family:'Source Sans Pro';font-style:normal;font-weight:600;font-display:swap;src:url(https://fonts.gstatic.com/s/sourcesanspro/v22/6xKydSBYKcSV-LCoeQqfX1RYOo3i54rwlxdu3cOWxw.woff2) format('woff2');unicode-range:U+0000-00FF,U+0131,U+0152-0153,U+02BB-02BC,U+02C6,U+02DA,U+02DC,U+0304,U+0308,U+0329,U+2000-206F,U+20AC,U+2122,U+2191,U+2193,U+2212,U+2215,U+FEFF,U+FFFD}@font-face{font-family:'Source Sans Pro';font-style:normal;font-weight:700;font-display:swap;src:url(https://fonts.gstatic.com/s/sourcesanspro/v22/6xKydSBYKcSV-LCoeQqfX1RYOo3ig4vwmhdu3cOWxy40.woff2) format('woff2');unicode-range:U+0460-052F,U+1C80-1C8A,U+20B4,U+2DE0-2DFF,U+A640-A69F,U+FE2E-FE2F}@font-face{font-family:'Source Sans Pro';font-style:normal;font-weight:700;font-display:swap;src:url(https://fonts.gstatic.com/s/sourcesanspro/v22/6xKydSBYKcSV-LCoeQqfX1RYOo3ig4vwkxdu3cOWxy40.woff2) format('woff2');unicode-range:U+0301,U+0400-045F,U+0490-0491,U+04B0-04B1,U+2116}@font-face{font-family:'Source Sans Pro';font-style:normal;font-weight:700;font-display:swap;src:url(https://fonts.gstatic.com/s/sourcesanspro/v22/6xKydSBYKcSV-LCoeQqfX1RYOo3ig4vwmxdu3cOWxy40.woff2) format('woff2');unicode-range:U+1F00-1FFF}@font-face{font-family:'Source Sans Pro';font-style:normal;font-weight:700;font-display:swap;src:url(https://fonts.gstatic.com/s/sourcesanspro/v22/6xKydSBYKcSV-LCoeQqfX1RYOo3ig4vwlBdu3cOWxy40.woff2) format('woff2');unicode-range:U+0370-0377,U+037A-037F,U+0384-038A,U+038C,U+038E-03A1,U+03A3-03FF}@font-face{font-family:'Source Sans Pro';font-style:normal;font-weight:700;font-display:swap;src:url(https://fonts.gstatic.com/s/sourcesanspro/v22/6xKydSBYKcSV-LCoeQqfX1RYOo3ig4vwmBdu3cOWxy40.woff2) format('woff2');unicode-range:U+0102-0103,U+0110-0111,U+0128-0129,U+0168-0169,U+01A0-01A1,U+01AF-01B0,U+0300-0301,U+0303-0304,U+0308-0309,U+0323,U+0329,U+1EA0-1EF9,U+20AB}@font-face{font-family:'Source Sans Pro';font-style:normal;font-weight:700;font-display:swap;src:url(https://fonts.gstatic.com/s/sourcesanspro/v22/6xKydSBYKcSV-LCoeQqfX1RYOo3ig4vwmRdu3cOWxy40.woff2) format('woff2');unicode-range:U+0100-02BA,U+02BD-02C5,U+02C7-02CC,U+02CE-02D7,U+02DD-02FF,U+0304,U+0308,U+0329,U+1D00-1DBF,U+1E00-1E9F,U+1EF2-1EFF,U+2020,U+20A0-20AB,U+20AD-20C0,U+2113,U+2C60-2C7F,U+A720-A7FF}@font-face{font-family:'Source Sans Pro';font-style:normal;font-weight:700;font-display:swap;src:url(https://fonts.gstatic.com/s/sourcesanspro/v22/6xKydSBYKcSV-LCoeQqfX1RYOo3ig4vwlxdu3cOWxw.woff2) format('woff2');unicode-range:U+0000-00FF,U+0131,U+0152-0153,U+02BB-02BC,U+02C6,U+02DA,U+02DC,U+0304,U+0308,U+0329,U+2000-206F,U+20AC,U+2122,U+2191,U+2193,U+2212,U+2215,U+FEFF,U+FFFD}@font-face{font-family:'Source Sans Pro';font-style:normal;font-weight:900;font-display:swap;src:url(https://fonts.gstatic.com/s/sourcesanspro/v22/6xKydSBYKcSV-LCoeQqfX1RYOo3iu4nwmhdu3cOWxy40.woff2) format('woff2');unicode-range:U+0460-052F,U+1C80-1C8A,U+20B4,U+2DE0-2DFF,U+A640-A69F,U+FE2E-FE2F}@font-face{font-family:'Source Sans Pro';font-style:normal;font-weight:900;font-display:swap;src:url(https://fonts.gstatic.com/s/sourcesanspro/v22/6xKydSBYKcSV-LCoeQqfX1RYOo3iu4nwkxdu3cOWxy40.woff2) format('woff2');unicode-range:U+0301,U+0400-045F,U+0490-0491,U+04B0-04B1,U+2116}@font-face{font-family:'Source Sans Pro';font-style:normal;font-weight:900;font-display:swap;src:url(https://fonts.gstatic.com/s/sourcesanspro/v22/6xKydSBYKcSV-LCoeQqfX1RYOo3iu4nwmxdu3cOWxy40.woff2) format('woff2');unicode-range:U+1F00-1FFF}@font-face{font-family:'Source Sans Pro';font-style:normal;font-weight:900;font-display:swap;src:url(https://fonts.gstatic.com/s/sourcesanspro/v22/6xKydSBYKcSV-LCoeQqfX1RYOo3iu4nwlBdu3cOWxy40.woff2) format('woff2');unicode-range:U+0370-0377,U+037A-037F,U+0384-038A,U+038C,U+038E-03A1,U+03A3-03FF}@font-face{font-family:'Source Sans Pro';font-style:normal;font-weight:900;font-display:swap;src:url(https://fonts.gstatic.com/s/sourcesanspro/v22/6xKydSBYKcSV-LCoeQqfX1RYOo3iu4nwmBdu3cOWxy40.woff2) format('woff2');unicode-range:U+0102-0103,U+0110-0111,U+0128-0129,U+0168-0169,U+01A0-01A1,U+01AF-01B0,U+0300-0301,U+0303-0304,U+0308-0309,U+0323,U+0329,U+1EA0-1EF9,U+20AB}@font-face{font-family:'Source Sans Pro';font-style:normal;font-weight:900;font-display:swap;src:url(https://fonts.gstatic.com/s/sourcesanspro/v22/6xKydSBYKcSV-LCoeQqfX1RYOo3iu4nwmRdu3cOWxy40.woff2) format('woff2');unicode-range:U+0100-02BA,U+02BD-02C5,U+02C7-02CC,U+02CE-02D7,U+02DD-02FF,U+0304,U+0308,U+0329,U+1D00-1DBF,U+1E00-1E9F,U+1EF2-1EFF,U+2020,U+20A0-20AB,U+20AD-20C0,U+2113,U+2C60-2C7F,U+A720-A7FF}@font-face{font-family:'Source Sans Pro';font-style:normal;font-weight:900;font-display:swap;src:url(https://fonts.gstatic.com/s/sourcesanspro/v22/6xKydSBYKcSV-LCoeQqfX1RYOo3iu4nwlxdu3cOWxw.woff2) format('woff2');unicode-range:U+0000-00FF,U+0131,U+0152-0153,U+02BB-02BC,U+02C6,U+02DA,U+02DC,U+0304,U+0308,U+0329,U+2000-206F,U+20AC,U+2122,U+2191,U+2193,U+2212,U+2215,U+FEFF,U+FFFD}</style></head><body><div id="__next"><style> #nprogress { pointer-events: none; } #nprogress .bar { background: #d6002a; position: fixed; z-index: 9999; top: 0; left: 0; width: 100%; height: 3px; } #nprogress .peg { display: block; position: absolute; right: 0px; width: 100px; height: 100%; box-shadow: 0 0 10px #d6002a, 0 0 5px #d6002a; opacity: 1; -webkit-transform: rotate(3deg) translate(0px, -4px); -ms-transform: rotate(3deg) translate(0px, -4px); transform: rotate(3deg) translate(0px, -4px); } #nprogress .spinner { display: block; position: fixed; z-index: 1031; top: 15px; right: 15px; } #nprogress .spinner-icon { width: 18px; height: 18px; box-sizing: border-box; border: solid 2px transparent; border-top-color: #d6002a; border-left-color: #d6002a; border-radius: 50%; -webkit-animation: nprogresss-spinner 400ms linear infinite; animation: nprogress-spinner 400ms linear infinite; } .nprogress-custom-parent { overflow: hidden; position: relative; } .nprogress-custom-parent #nprogress .spinner, .nprogress-custom-parent #nprogress .bar { position: absolute; } @-webkit-keyframes nprogress-spinner { 0% { -webkit-transform: rotate(0deg); } 100% { -webkit-transform: rotate(360deg); } } @keyframes nprogress-spinner { 0% { transform: rotate(0deg); } 100% { transform: rotate(360deg); } } </style><div id="app"><div class="PaddingContainer_wrapper__FWKgD Header_ad__Rgpxk"><div class="FullPageContainer_container__SQNsL"><div style="--ad-desktop-height:90px;--ad-mobile-height:50px;--ad-desktop-width:975px;--ad-mobile-width:300px" class="AdPlaceholder_placeholder__xdxjj ad"><div id="maritime_lb" class="mobile" style="margin-inline:auto;margin-bottom:0;max-width:300px;line-height:0"></div></div></div></div><header class="Header_header__2r_kK"><div class="Header_main__IKyVE"><div style="position:relative"><div class="PaddingContainer_wrapper__FWKgD UpperHeader_container__WUhP_"><div class="FullPageContainer_container__SQNsL UpperHeader_wrapper__QbEwQ"><div class="UpperHeader_logo__ISQzB"><a href="/" class="UpperHeader_logomark__vwH86"><img src="/_next/static/public/images/joc-logo-small.svg" alt="Journal of Commerce Logo"/></a><div class="UpperHeader_separator__TyomH"></div><div class="UpperHeader_logotype__44dMv"><a href="/" class="UpperHeader_logomark__vwH86"><img style="height:var(--font-size-3)" src="/_next/static/public/images/joc_one-line.svg" alt="Journal of Commerce Logo"/></a></div></div><form class="UpperHeader_search__4li5q"><div class="SearchInput_form__5D2DL"><input class="SearchInput_input__Qob4K" placeholder="Search" type="text"/><button class="SearchInput_icon__7Dc8_" title="search"><span class="material-symbols-outlined">search</span></button></div></form><button type="button" title="open menu" class="UpperHeader_trigger__gv_j1"><span class="material-symbols-outlined">menu</span></button></div></div></div><div class="PaddingContainer_wrapper__FWKgD DesktopHeader_container__Kpujn desktop"><div class="FullPageContainer_container__SQNsL DesktopHeader_wrapper__g_KKy"><ul class="DesktopHeader_menu__wDfLI"><li class="DesktopMenuItem_item__1MbBK"><a href="/maritime" class="DesktopMenuItem_link__Qwrf9" target="">Maritime</a><div class="DesktopMenuItem_submenu__O0Hw4"><div class="DesktopMenuItem_wrapper__EI36o"><a href="/maritime/container-shipping-news" class="ButtonLink_link__YfHeV" style="padding:var(--spacing-xs) var(--spacing-s)" target="">Container Shipping News</a><a href="/maritime/breakbulk-news" class="ButtonLink_link__YfHeV" style="padding:var(--spacing-xs) var(--spacing-s)" target="">Breakbulk News</a><a href="/maritime/port-news" class="ButtonLink_link__YfHeV" style="padding:var(--spacing-xs) var(--spacing-s)" target="">Port News</a></div></div></li><li class="DesktopMenuItem_item__1MbBK"><a href="/surface" class="DesktopMenuItem_link__Qwrf9" target="">Surface</a><div class="DesktopMenuItem_submenu__O0Hw4"><div class="DesktopMenuItem_wrapper__EI36o"><a href="/surface/trucking-news" class="ButtonLink_link__YfHeV" style="padding:var(--spacing-xs) var(--spacing-s)" target="">Trucking News</a><a href="/surface/rail-news" class="ButtonLink_link__YfHeV" style="padding:var(--spacing-xs) var(--spacing-s)" target="">Rail News</a></div></div></li><li class="DesktopMenuItem_item__1MbBK"><a href="/air-cargo" class="DesktopMenuItem_link__Qwrf9" target="">Air Cargo</a><div class="DesktopMenuItem_submenu__O0Hw4"><div class="DesktopMenuItem_wrapper__EI36o"><a href="/air-cargo/air-cargo-carriers-news" class="ButtonLink_link__YfHeV" style="padding:var(--spacing-xs) var(--spacing-s)" target="">Air Cargo Carriers News</a><a href="/air-cargo/air-cargo-forwarder-news" class="ButtonLink_link__YfHeV" style="padding:var(--spacing-xs) var(--spacing-s)" target="">Air Cargo Forwarder News</a></div></div></li><li class="DesktopMenuItem_item__1MbBK"><a href="/supply-chain" class="DesktopMenuItem_link__Qwrf9" target="">Supply chain</a><div class="DesktopMenuItem_submenu__O0Hw4"><div class="DesktopMenuItem_wrapper__EI36o"><a href="/supply-chain/logistics-technology-news" class="ButtonLink_link__YfHeV" style="padding:var(--spacing-xs) var(--spacing-s)" target="">Logistics Technology News</a><a href="/supply-chain/industrial-real-estate-news" class="ButtonLink_link__YfHeV" style="padding:var(--spacing-xs) var(--spacing-s)" target="">Industrial Real Estate News</a><a href="/supply-chain/transport-trade-and-regulation-news" class="ButtonLink_link__YfHeV" style="padding:var(--spacing-xs) var(--spacing-s)" target="">Transport, Trade and Regulation News</a><a href="/supply-chain/last-mile-news" class="ButtonLink_link__YfHeV" style="padding:var(--spacing-xs) var(--spacing-s)" target="">Last Mile News</a><a href="/supply-chain/cool-cargo-news" class="ButtonLink_link__YfHeV" style="padding:var(--spacing-xs) var(--spacing-s)" target="">Cool Cargo News</a></div></div></li><li class="DesktopMenuItem_item__1MbBK"><a href="/events" class="DesktopMenuItem_link__Qwrf9" target="">Events</a></li><li class="DesktopMenuItem_item__1MbBK"><a href="/resources" class="DesktopMenuItem_link__Qwrf9" target="">Resources</a><div class="DesktopMenuItem_submenu__O0Hw4"><div class="DesktopMenuItem_wrapper__EI36o"><a href="/resources/magazine" class="ButtonLink_link__YfHeV" style="padding:var(--spacing-xs) var(--spacing-s)" target="">Magazine</a><a href="/resources/newsletters" class="ButtonLink_link__YfHeV" style="padding:var(--spacing-xs) var(--spacing-s)" target="">Newsletters</a><a href="/resources/multimedia" class="ButtonLink_link__YfHeV" style="padding:var(--spacing-xs) var(--spacing-s)" target="">Multimedia</a><a href="/resources/white-papers" class="ButtonLink_link__YfHeV" style="padding:var(--spacing-xs) var(--spacing-s)" target="">White Papers</a><a href="/resources/special-reports" class="ButtonLink_link__YfHeV" style="padding:var(--spacing-xs) var(--spacing-s)" target="">Special Reports</a><a href="/resources/press-releases" class="ButtonLink_link__YfHeV" style="padding:var(--spacing-xs) var(--spacing-s)" target="">Press Releases</a><a href="https://subscribe.joc.com/mediasolutions/" class="ButtonLink_link__YfHeV" style="padding:var(--spacing-xs) var(--spacing-s)" target="_blank">Media Kit</a><a href="/resources/other" class="ButtonLink_link__YfHeV" style="padding:var(--spacing-xs) var(--spacing-s)" target="">Other</a></div></div></li><li class="DesktopMenuItem_item__1MbBK"><a href="/gateway" class="DesktopMenuItem_link__Qwrf9" target=""><span class="ButtonLink_link__YfHeV DesktopHeader_gateway-button__cLZkh"><span class="material-symbols-outlined">finance</span> Gateway</span></a></li></ul><a href="/user/trial" class="ButtonLink_link__YfHeV DesktopHeader_action___1cJ1">Free Trial</a><div class="DesktopHeader_separator__GAHT4" aria-hidden="true">|</div><a href="/subscription/choose-plan" class="ButtonLink_link__YfHeV DesktopHeader_action___1cJ1">Subscribe</a></div></div><div class="MobileHeader_menu__wuYqy mobile"><ul class="MobileHeader_list__vF7fE"><li class="ExpandableMenuItem_item__f7ayq"><div class="ExpandableMenuItem_row__7fGOE"><div class="ExpandableMenuItem_icon__uUHz_"><span class="material-symbols-outlined">chevron_right</span></div><a href="/maritime" class="ExpandableMenuItem_link__dwaQ0" target="">Maritime</a></div><ul class="ExpandableMenuItem_submenu__93Ty_" style="--children-count:3"><li><a href="/maritime/container-shipping-news" target="">Container Shipping News</a></li><li><a href="/maritime/breakbulk-news" target="">Breakbulk News</a></li><li><a href="/maritime/port-news" target="">Port News</a></li></ul></li><li class="ExpandableMenuItem_item__f7ayq"><div class="ExpandableMenuItem_row__7fGOE"><div class="ExpandableMenuItem_icon__uUHz_"><span class="material-symbols-outlined">chevron_right</span></div><a href="/surface" class="ExpandableMenuItem_link__dwaQ0" target="">Surface</a></div><ul class="ExpandableMenuItem_submenu__93Ty_" style="--children-count:2"><li><a href="/surface/trucking-news" target="">Trucking News</a></li><li><a href="/surface/rail-news" target="">Rail News</a></li></ul></li><li class="ExpandableMenuItem_item__f7ayq"><div class="ExpandableMenuItem_row__7fGOE"><div class="ExpandableMenuItem_icon__uUHz_"><span class="material-symbols-outlined">chevron_right</span></div><a href="/air-cargo" class="ExpandableMenuItem_link__dwaQ0" target="">Air Cargo</a></div><ul class="ExpandableMenuItem_submenu__93Ty_" style="--children-count:2"><li><a href="/air-cargo/air-cargo-carriers-news" target="">Air Cargo Carriers News</a></li><li><a href="/air-cargo/air-cargo-forwarder-news" target="">Air Cargo Forwarder News</a></li></ul></li><li class="ExpandableMenuItem_item__f7ayq"><div class="ExpandableMenuItem_row__7fGOE"><div class="ExpandableMenuItem_icon__uUHz_"><span class="material-symbols-outlined">chevron_right</span></div><a href="/supply-chain" class="ExpandableMenuItem_link__dwaQ0" target="">Supply chain</a></div><ul class="ExpandableMenuItem_submenu__93Ty_" style="--children-count:5"><li><a href="/supply-chain/logistics-technology-news" target="">Logistics Technology News</a></li><li><a href="/supply-chain/industrial-real-estate-news" target="">Industrial Real Estate News</a></li><li><a href="/supply-chain/transport-trade-and-regulation-news" target="">Transport, Trade and Regulation News</a></li><li><a href="/supply-chain/last-mile-news" target="">Last Mile News</a></li><li><a href="/supply-chain/cool-cargo-news" target="">Cool Cargo News</a></li></ul></li><li class="ExpandableMenuItem_item__f7ayq"><div class="ExpandableMenuItem_row__7fGOE"><div class="ExpandableMenuItem_icon__uUHz_"></div><a href="/events" class="ExpandableMenuItem_link__dwaQ0" target="">Events</a></div></li><li class="ExpandableMenuItem_item__f7ayq"><div class="ExpandableMenuItem_row__7fGOE"><div class="ExpandableMenuItem_icon__uUHz_"><span class="material-symbols-outlined">chevron_right</span></div><a href="/resources" class="ExpandableMenuItem_link__dwaQ0" target="">Resources</a></div><ul class="ExpandableMenuItem_submenu__93Ty_" style="--children-count:8"><li><a href="/resources/magazine" target="">Magazine</a></li><li><a href="/resources/newsletters" target="">Newsletters</a></li><li><a href="/resources/multimedia" target="">Multimedia</a></li><li><a href="/resources/white-papers" target="">White Papers</a></li><li><a href="/resources/special-reports" target="">Special Reports</a></li><li><a href="/resources/press-releases" target="">Press Releases</a></li><li><a href="https://subscribe.joc.com/mediasolutions/" target="_blank">Media Kit</a></li><li><a href="/resources/other" target="">Other</a></li></ul></li><a href="/gateway" class="ButtonLink_link__YfHeV MobileHeader_gateway__WmEsR"><span class="material-symbols-outlined MobileHeader_chart__ywbDy">finance</span>Gateway</a></ul><a href="/user/trial" class="ButtonLink_link__YfHeV">Free Trial</a><a href="/user/login?redirect=null" class="ButtonLink_link__YfHeV">Sign In</a><a href="/subscription/choose-plan" class="ButtonLink_link__YfHeV">Subscribe</a><form class="MobileHeader_search__2iHdq"><div class="SearchInput_form__5D2DL SearchInput_mobile__mZBXZ"><input class="SearchInput_input__Qob4K" placeholder="Search" type="text"/><button class="SearchInput_icon__7Dc8_" title="search"><span class="material-symbols-outlined">search</span></button></div></form></div></div></header><main id="main" class="main"><div class="PaddingContainer_wrapper__FWKgD"><div class="FullPageContainer_container__SQNsL"><div style="--left-column-width:2fr;--right-column-width:1fr" class="DoubleColumnContainer_wrapper__OOLmD ArticleComp_article__JYu0F"><div class="DoubleColumnContainer_left__v2CWC"></div><div class="DoubleColumnContainer_right__Kafux DoubleColumnContainer_line__AgwWS"><div data-cy="listings-column" class="ListingsColumn_promotions__V7uTc"><div style="--ad-desktop-height:400px;--ad-mobile-height:250px;--ad-desktop-width:450px;--ad-mobile-width:300px" class="AdPlaceholder_placeholder__xdxjj ad"><div id="maritime_ss_top" class="ListingsColumn_ad__WA7_X mobile" style="margin-inline:auto;margin-bottom:0;max-width:300px;line-height:0"></div></div><h2 class="Heading_heading__h8IMw Heading_brand__a9qse" style="font-size:var(--font-size-1);margin-bottom:0">Latest News</h2><div class="LatestNews_wrapper__cJxSN" data-cy="latest-news"><div class="LatestNews_column__3bFP2"><div><ul><li class="TopStory_item__w62rS"><a class="TopStory_story__R9CXh" href="/article/evergreen-sets-up-transshipment-hub-in-singapore-with-psa-terminal-deal-5833725"><div class="TopStory_wrapper__8q2mR"><img alt="Evergreen sets up transshipment hub in Singapore with PSA terminal deal" loading="lazy" decoding="async" data-nimg="fill" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;object-fit:cover;color:transparent" src="/images/phoenix/5833731_0.1.jpg"/></div><span class="TopStory_title__9EM8l">Evergreen sets up transshipment hub in Singapore with PSA terminal deal</span></a></li><li class="TopStory_item__w62rS"><a class="TopStory_story__R9CXh" href="/article/nyshex-keeps-core-vision-while-evolving-in-volatile-container-shipping-market-5833589"><div class="TopStory_wrapper__8q2mR"><img alt="NYSHEX keeps core vision while evolving in volatile container shipping market" loading="lazy" decoding="async" data-nimg="fill" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;object-fit:cover;color:transparent" src="/images/phoenix/5833574_0.1.jpg"/></div><span class="TopStory_title__9EM8l">NYSHEX keeps core vision while evolving in volatile container shipping market</span></a></li><li class="TopStory_item__w62rS"><a class="TopStory_story__R9CXh" href="/article/tightening-europe-decarbonization-measures-will-raise-shipper-costs-carriers-5833489"><div class="TopStory_wrapper__8q2mR"><img alt="Tightening Europe decarbonization measures will raise shipper costs: carriers" loading="lazy" decoding="async" data-nimg="fill" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;object-fit:cover;color:transparent" src="/images/phoenix/5833487_0.1.jpg"/></div><span class="TopStory_title__9EM8l">Tightening Europe decarbonization measures will raise shipper costs: carriers</span></a></li></ul></div></div><div class="LatestNews_column__3bFP2"><div><ul><li class="TopStory_item__w62rS"><a class="TopStory_story__R9CXh" href="/article/asia-europe-ocean-rates-up-sharply-ahead-of-carriers-dec-1-price-hikes-5833484"><div class="TopStory_wrapper__8q2mR"><img alt="Asia-Europe ocean rates up sharply ahead of carriers’ Dec. 1 price hikes" loading="lazy" decoding="async" data-nimg="fill" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;object-fit:cover;color:transparent" src="/images/phoenix/5833483_0.1.jpg"/></div><span class="TopStory_title__9EM8l">Asia-Europe ocean rates up sharply ahead of carriers’ Dec. 1 price hikes</span></a></li><li class="TopStory_item__w62rS"><a class="TopStory_story__R9CXh" href="/article/montreal-port-employers-union-agree-to-mediation-in-talks-for-new-contract-5824318"><div class="TopStory_wrapper__8q2mR"><img alt="Montreal port employers, union agree to mediation in talks for new contract" loading="lazy" decoding="async" data-nimg="fill" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;object-fit:cover;color:transparent" src="/images/phoenix/5824289_0.1.jpg"/></div><span class="TopStory_title__9EM8l">Montreal port employers, union agree to mediation in talks for new contract</span></a></li></ul></div><a class="Button_button__jFFjh Button_secondary__9eyUI" href="/news" style="align-self:center;margin-top:var(--spacing-m);padding-inline:var(--spacing-l);padding-block:var(--spacing-xs)">More News</a></div></div><div style="--ad-desktop-height:400px;--ad-mobile-height:250px;--ad-desktop-width:450px;--ad-mobile-width:300px" class="AdPlaceholder_placeholder__xdxjj ad"><div id="maritime_ss_mid" class="ListingsColumn_ad__WA7_X mobile" style="margin-inline:auto;margin-bottom:0;max-width:300px;line-height:0"></div></div><div style="--ad-desktop-height:100px;--ad-mobile-height:100px;--ad-desktop-width:450px;--ad-mobile-width:300px" class="AdPlaceholder_placeholder__xdxjj ad"><div id="maritime_ss_mid_small" class="ListingsColumn_ad__WA7_X mobile" style="margin-inline:auto;margin-bottom:0;max-width:300px;line-height:0"></div></div><div class="ListingsColumn_stickyWrapper__O4xwC" style="display:none"><div class="StickyWrapper_sticky__jLZGu StickyWrapper_floating__NOEpH"><div class="StickyWrapper_wrapper__EhAmB"><div class="CloseButton_close_button__tyDle" style="display:none">✕</div><div style="--ad-desktop-height:650px;--ad-mobile-height:600px;--ad-desktop-width:450px;--ad-mobile-width:300px" class="AdPlaceholder_placeholder__xdxjj ad"><div id="maritime_skyscraper_btm" class="ListingsColumn_ad__WA7_X mobile" style="margin-inline:auto;margin-bottom:0;max-width:300px;line-height:0"></div></div></div></div></div></div></div></div><section class="c-additional-news"><div class="c-additional-news__container"><h2 class="Heading_heading__h8IMw Heading_brand__a9qse" style="font-size:var(--font-size-1)">More News & Analysis</h2></div><div class="c-additional-news__container c-additional-news__container--articles"><div class="c-additional-news__inner"><div class="VerticalCard_card____Vkk" data-cy="vertical-card"><a href="/article/evergreen-sets-up-transshipment-hub-in-singapore-with-psa-terminal-deal-5833725" target=""><div class="VerticalCard_wrapper__uFLU9"><img alt="" loading="lazy" decoding="async" data-nimg="fill" class="VerticalCard_image__mtq8G" 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="VerticalCard_body__wUKqo"><h2 class="Heading_heading__h8IMw Heading_bold__h_y9l Heading_dark__jmb5G" style="font-size:var(--font-size-2);margin:0;margin-bottom:var(--spacing-xs)">Evergreen sets up transshipment hub in Singapore with PSA terminal deal</h2><p class="VerticalCard_description__pOSlS">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.</p></div></a></div><div class="VerticalCard_card____Vkk" data-cy="vertical-card"><a href="/article/nyshex-keeps-core-vision-while-evolving-in-volatile-container-shipping-market-5833589" target=""><div class="VerticalCard_wrapper__uFLU9"><img alt="" loading="lazy" decoding="async" data-nimg="fill" class="VerticalCard_image__mtq8G" 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="VerticalCard_body__wUKqo"><h2 class="Heading_heading__h8IMw Heading_bold__h_y9l Heading_dark__jmb5G" style="font-size:var(--font-size-2);margin:0;margin-bottom:var(--spacing-xs)">NYSHEX keeps core vision while evolving in volatile container shipping market</h2><p class="VerticalCard_description__pOSlS">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.</p></div></a></div><div class="VerticalCard_card____Vkk" data-cy="vertical-card"><a href="/article/tightening-europe-decarbonization-measures-will-raise-shipper-costs-carriers-5833489" target=""><div class="VerticalCard_wrapper__uFLU9"><img alt="" loading="lazy" decoding="async" data-nimg="fill" class="VerticalCard_image__mtq8G" 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="VerticalCard_body__wUKqo"><h2 class="Heading_heading__h8IMw Heading_bold__h_y9l Heading_dark__jmb5G" style="font-size:var(--font-size-2);margin:0;margin-bottom:var(--spacing-xs)">Tightening Europe decarbonization measures will raise shipper costs: carriers</h2><p class="VerticalCard_description__pOSlS">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.</p></div></a></div></div></div><div class="c-additional-news__container c-additional-news__container--offer-box"></div></section></div></div></main><div class="PopupAd_dismissableAd__7JYyU PopupAd_popup__IaYq_" id="dismissable-ad"><div class="PopupAd_image__wgVcQ"><div class="CloseButton_close_button__tyDle" style="display:none">✕</div><div style="--ad-desktop-height:400px;--ad-mobile-height:250px;--ad-desktop-width:450px;--ad-mobile-width:300px" class="AdPlaceholder_placeholder__xdxjj ad"><div id="popup" class="mobile" style="margin-inline:auto;margin-bottom:0;max-width:300px;line-height:0"></div></div></div></div><div class="PopupAd_dismissableAd__7JYyU PopupAd_interstitial__W4v_r" id="dismissable-ad"><div class="PopupAd_image__wgVcQ"><div class="CloseButton_close_button__tyDle" style="display:none">✕</div><div style="--ad-desktop-height:480px;--ad-mobile-height:250px;--ad-desktop-width:640px;--ad-mobile-width:300px" class="AdPlaceholder_placeholder__xdxjj ad"><div id="interstitial" class="mobile" style="margin-inline:auto;margin-bottom:0;max-width:300px;line-height:0"></div></div></div></div><div class="ExpandableBannerAd_bottomBannerObject__kF7Vm " id="article-banner"><div class="CloseButton_close_button__tyDle" style="display:none">✕</div><div class="ExpandableBannerAd_bottomBannerAd__SBSlD"><div style="--ad-desktop-height:270px;--ad-mobile-height:50px;--ad-desktop-width:975px;--ad-mobile-width:300px" class="AdPlaceholder_placeholder__xdxjj ad"><div id="expandable_slider" class="mobile" style="margin-inline:auto;margin-bottom:0;max-width:300px;line-height:0"></div></div></div></div><footer class="Footer_footer__diIZL Footer_expanded__V0FoH"><div class="Footer_content__DkeHZ"><div class=""><p>© 2024 S&P Global. All rights reserved. Reproduction in whole or in part without permission is prohibited.</p></div><div class="Footer_hidden__kYiDE"><ul class="Footer_links__f8MWp"><li class="Footer_link__RmJdM"><a href="/about">About</a></li><li class="Footer_link__RmJdM"><a href="/coverage-joc-editors">Editorial Team</a></li><li class="Footer_link__RmJdM"><a href="/contact">Contact</a></li><li class="Footer_link__RmJdM"><a href="https://subscribe.joc.com/mediasolutions" target="_blank">Advertise</a></li><li class="Footer_link__RmJdM"><a href="/customer-support">Customer Support</a></li><li class="Footer_link__RmJdM"><a href="/copyright-and-legal-disclaimer">Copyright</a></li><li class="Footer_link__RmJdM"><a href="https://ihsmarkit.com/Legal/privacy.html" target="_blank">Privacy</a></li><li class="Footer_link__RmJdM"><a href="/terms-conditions">Terms & Conditions</a></li><li class="Footer_link__RmJdM"><a href="https://ihsmarkit.com/Legal/modern-slavery-statement.html" target="_blank">Anti-Slavery</a></li></ul><ul class="Footer_socials__F7T7V"><li><a href="https://x.com/JOC_Updates" target="_blank" rel="nofollow"><img alt="X" loading="lazy" width="18" height="18" decoding="async" data-nimg="1" style="color:transparent" src="/_next/static/public/icons/x-white.svg"/></a></li><li><a href="https://www.facebook.com/JOCnewswire" target="_blank" rel="nofollow"><img alt="Facebook" loading="lazy" width="24" height="24" decoding="async" data-nimg="1" style="color:transparent" src="/_next/static/public/icons/facebook-white.png"/></a></li><li><a href="https://www.linkedin.com/showcase/joc-group-inc-/" target="_blank" rel="nofollow"><img alt="Linkedin" loading="lazy" width="24" height="24" decoding="async" data-nimg="1" style="color:transparent" src="/_next/static/public/icons/linkedin-white.png"/></a></li><li><a href="https://www.youtube.com/user/JOCNews" target="_blank" rel="nofollow"><img alt="YouTube" loading="lazy" width="30" height="24" decoding="async" data-nimg="1" style="color:transparent" src="/_next/static/public/icons/youtube-white.png"/></a></li><li><a href="/rss"><span class="material-symbols-outlined">rss_feed</span></a></li></ul></div></div><div class="Footer_hidden__kYiDE"><a href="/"><img class="Footer_logo__jJ05T" src="/_next/static/public/images/joc_spg_two-line_rev_rgb.svg" alt="Journal of Commerce Logo"/></a></div><div class="Footer_button__GxBD4"><button><span class="material-symbols-outlined">remove</span></button></div></footer></div><div class="Toastify"></div></div><script id="__NEXT_DATA__" type="application/json">{"props":{"pageProps":{"navigation":[{"Id":"1","Name":"Maritime","Menu":true,"ParentId":null,"Redirects":[{"Path":"/maritime","__typename":"Redirect"}],"Position":1,"__typename":"TaxonomyDictionary","Children":[{"Id":"9","Name":"Container Shipping News","Menu":true,"ParentId":"1","Redirects":[{"Path":"/maritime/container-shipping-news","__typename":"Redirect"}],"Position":8,"__typename":"TaxonomyDictionary","Children":[{"Id":"34","Name":"Container lines","Menu":true,"ParentId":"9","Redirects":[{"Path":"/maritime/container-shipping-news/container-lines","__typename":"Redirect"}],"Position":33,"__typename":"TaxonomyDictionary","Children":[]},{"Id":"35","Name":"Trans-Atlantic","Menu":true,"ParentId":"9","Redirects":[{"Path":"/maritime/container-shipping-news/trans-atlantic","__typename":"Redirect"}],"Position":36,"__typename":"TaxonomyDictionary","Children":[]},{"Id":"36","Name":"Forwarding","Menu":true,"ParentId":"9","Redirects":[{"Path":"/maritime/container-shipping-news/forwarding","__typename":"Redirect"}],"Position":34,"__typename":"TaxonomyDictionary","Children":[]},{"Id":"37","Name":"Asia-Europe","Menu":true,"ParentId":"9","Redirects":[{"Path":"/maritime/container-shipping-news/asia-europe","__typename":"Redirect"}],"Position":37,"__typename":"TaxonomyDictionary","Children":[]},{"Id":"38","Name":"Trans-Pacific","Menu":true,"ParentId":"9","Redirects":[{"Path":"/maritime/container-shipping-news/trans-pacific","__typename":"Redirect"}],"Position":35,"__typename":"TaxonomyDictionary","Children":[]}]},{"Id":"8","Name":"Breakbulk News","Menu":true,"ParentId":"1","Redirects":[{"Path":"/maritime/breakbulk-news","__typename":"Redirect"}],"Position":9,"__typename":"TaxonomyDictionary","Children":[{"Id":"29","Name":"Breakbulk carriers","Menu":true,"ParentId":"8","Redirects":[{"Path":"/maritime/breakbulk-news/breakbulk-carriers","__typename":"Redirect"}],"Position":28,"__typename":"TaxonomyDictionary","Children":[]},{"Id":"30","Name":"Ro/ro cargo","Menu":true,"ParentId":"8","Redirects":[{"Path":"/maritime/breakbulk-news/roro-cargo","__typename":"Redirect"}],"Position":31,"__typename":"TaxonomyDictionary","Children":[]},{"Id":"31","Name":"Energy projects","Menu":true,"ParentId":"8","Redirects":[{"Path":"/maritime/breakbulk-news/energy-projects","__typename":"Redirect"}],"Position":29,"__typename":"TaxonomyDictionary","Children":[]},{"Id":"32","Name":"Heavy-haul transport","Menu":true,"ParentId":"8","Redirects":[{"Path":"/maritime/breakbulk-news/heavy-haul-transport","__typename":"Redirect"}],"Position":32,"__typename":"TaxonomyDictionary","Children":[]},{"Id":"33","Name":"Project cargo","Menu":true,"ParentId":"8","Redirects":[{"Path":"/maritime/breakbulk-news/project-cargo","__typename":"Redirect"}],"Position":30,"__typename":"TaxonomyDictionary","Children":[]}]},{"Id":"10","Name":"Port News","Menu":true,"ParentId":"1","Redirects":[{"Path":"/maritime/port-news","__typename":"Redirect"}],"Position":10,"__typename":"TaxonomyDictionary","Children":[{"Id":"39","Name":"Drayage","Menu":true,"ParentId":"10","Redirects":[{"Path":"/maritime/port-news/drayage","__typename":"Redirect"}],"Position":38,"__typename":"TaxonomyDictionary","Children":[]},{"Id":"40","Name":"Port infrastructure","Menu":true,"ParentId":"10","Redirects":[{"Path":"/maritime/port-news/port-infrastructure","__typename":"Redirect"}],"Position":41,"__typename":"TaxonomyDictionary","Children":[]},{"Id":"41","Name":"Breakbulk ports","Menu":true,"ParentId":"10","Redirects":[{"Path":"/maritime/port-news/breakbulk-ports","__typename":"Redirect"}],"Position":44,"__typename":"TaxonomyDictionary","Children":[]},{"Id":"42","Name":"North American ports","Menu":true,"ParentId":"10","Redirects":[{"Path":"/maritime/port-news/north-american-ports","__typename":"Redirect"}],"Position":39,"__typename":"TaxonomyDictionary","Children":[]},{"Id":"43","Name":"Marine terminals","Menu":true,"ParentId":"10","Redirects":[{"Path":"/maritime/port-news/marine-terminals","__typename":"Redirect"}],"Position":42,"__typename":"TaxonomyDictionary","Children":[]},{"Id":"44","Name":"International ports","Menu":true,"ParentId":"10","Redirects":[{"Path":"/maritime/port-news/international-ports","__typename":"Redirect"}],"Position":40,"__typename":"TaxonomyDictionary","Children":[]},{"Id":"45","Name":"Longshore labor","Menu":true,"ParentId":"10","Redirects":[{"Path":"/maritime/port-news/longshore-labor","__typename":"Redirect"}],"Position":43,"__typename":"TaxonomyDictionary","Children":[]}]}]},{"Id":"2","Name":"Surface","Menu":true,"ParentId":null,"Redirects":[{"Path":"/surface","__typename":"Redirect"}],"Position":2,"__typename":"TaxonomyDictionary","Children":[{"Id":"11","Name":"Trucking News","Menu":true,"ParentId":"2","Redirects":[{"Path":"/surface/trucking-news","__typename":"Redirect"}],"Position":11,"__typename":"TaxonomyDictionary","Children":[{"Id":"46","Name":"LTL","Menu":true,"ParentId":"11","Redirects":[{"Path":"/surface/trucking-news/ltl","__typename":"Redirect"}],"Position":45,"__typename":"TaxonomyDictionary","Children":[]},{"Id":"47","Name":"Truckload","Menu":true,"ParentId":"11","Redirects":[{"Path":"/surface/trucking-news/truckload","__typename":"Redirect"}],"Position":48,"__typename":"TaxonomyDictionary","Children":[]},{"Id":"48","Name":"Truck brokers","Menu":true,"ParentId":"11","Redirects":[{"Path":"/surface/trucking-news/truck-brokers","__typename":"Redirect"}],"Position":46,"__typename":"TaxonomyDictionary","Children":[]},{"Id":"49","Name":"Flatbed","Menu":true,"ParentId":"11","Redirects":[{"Path":"/surface/trucking-news/flatbed","__typename":"Redirect"}],"Position":49,"__typename":"TaxonomyDictionary","Children":[]},{"Id":"50","Name":"Trucking labor","Menu":true,"ParentId":"11","Redirects":[{"Path":"/surface/trucking-news/trucking-labor","__typename":"Redirect"}],"Position":47,"__typename":"TaxonomyDictionary","Children":[]}]},{"Id":"12","Name":"Rail News","Menu":true,"ParentId":"2","Redirects":[{"Path":"/surface/rail-news","__typename":"Redirect"}],"Position":12,"__typename":"TaxonomyDictionary","Children":[{"Id":"51","Name":"North-American rail","Menu":true,"ParentId":"12","Redirects":[{"Path":"/surface/rail-news/north-american-rail","__typename":"Redirect"}],"Position":50,"__typename":"TaxonomyDictionary","Children":[]},{"Id":"52","Name":"International rail","Menu":true,"ParentId":"12","Redirects":[{"Path":"/surface/rail-news/international-rail","__typename":"Redirect"}],"Position":51,"__typename":"TaxonomyDictionary","Children":[]},{"Id":"53","Name":"Intermodal providers","Menu":true,"ParentId":"12","Redirects":[{"Path":"/surface/rail-news/intermodal-providers","__typename":"Redirect"}],"Position":52,"__typename":"TaxonomyDictionary","Children":[]}]}]},{"Id":"3","Name":"Air Cargo","Menu":true,"ParentId":null,"Redirects":[{"Path":"/air-cargo","__typename":"Redirect"}],"Position":3,"__typename":"TaxonomyDictionary","Children":[{"Id":"14","Name":"Air Cargo Carriers News","Menu":true,"ParentId":"3","Redirects":[{"Path":"/air-cargo/air-cargo-carriers-news","__typename":"Redirect"}],"Position":13,"__typename":"TaxonomyDictionary","Children":[]},{"Id":"13","Name":"Air Cargo Forwarder News","Menu":true,"ParentId":"3","Redirects":[{"Path":"/air-cargo/air-cargo-forwarder-news","__typename":"Redirect"}],"Position":14,"__typename":"TaxonomyDictionary","Children":[]}]},{"Id":"4","Name":"Supply chain","Menu":true,"ParentId":null,"Redirects":[{"Path":"/supply-chain","__typename":"Redirect"}],"Position":4,"__typename":"TaxonomyDictionary","Children":[{"Id":"17","Name":"Logistics Technology News","Menu":true,"ParentId":"4","Redirects":[{"Path":"/supply-chain/logistics-technology-news","__typename":"Redirect"}],"Position":15,"__typename":"TaxonomyDictionary","Children":[]},{"Id":"20","Name":"Industrial Real Estate News","Menu":true,"ParentId":"4","Redirects":[{"Path":"/supply-chain/industrial-real-estate-news","__typename":"Redirect"}],"Position":16,"__typename":"TaxonomyDictionary","Children":[]},{"Id":"16","Name":"Transport, Trade and Regulation News","Menu":true,"ParentId":"4","Redirects":[{"Path":"/supply-chain/transport-trade-and-regulation-news","__typename":"Redirect"}],"Position":17,"__typename":"TaxonomyDictionary","Children":[]},{"Id":"19","Name":"Last Mile News","Menu":true,"ParentId":"4","Redirects":[{"Path":"/supply-chain/last-mile-news","__typename":"Redirect"}],"Position":18,"__typename":"TaxonomyDictionary","Children":[]},{"Id":"18","Name":"Cool Cargo News","Menu":true,"ParentId":"4","Redirects":[{"Path":"/supply-chain/cool-cargo-news","__typename":"Redirect"}],"Position":19,"__typename":"TaxonomyDictionary","Children":[]}]},{"Id":"5","Name":"Events","Menu":true,"ParentId":null,"Redirects":[{"Path":"/events","__typename":"Redirect"}],"Position":5,"__typename":"TaxonomyDictionary","Children":[]},{"Id":"6","Name":"Resources","Menu":true,"ParentId":null,"Redirects":[{"Path":"/resources","__typename":"Redirect"}],"Position":6,"__typename":"TaxonomyDictionary","Children":[{"Id":"21","Name":"Magazine","Menu":true,"ParentId":"6","Redirects":[{"Path":"/resources/magazine","__typename":"Redirect"}],"Position":20,"__typename":"TaxonomyDictionary","Children":[{"Id":"54","Name":"Commentary","Menu":true,"ParentId":"21","Redirects":[{"Path":"/resources/magazine/commentary","__typename":"Redirect"}],"Position":53,"__typename":"TaxonomyDictionary","Children":[]}]},{"Id":"22","Name":"Newsletters","Menu":true,"ParentId":"6","Redirects":[{"Path":"/resources/newsletters","__typename":"Redirect"}],"Position":21,"__typename":"TaxonomyDictionary","Children":[]},{"Id":"23","Name":"Multimedia","Menu":true,"ParentId":"6","Redirects":[{"Path":"/resources/multimedia","__typename":"Redirect"}],"Position":22,"__typename":"TaxonomyDictionary","Children":[{"Id":"55","Name":"Podcasts","Menu":true,"ParentId":"23","Redirects":[{"Path":"/resources/multimedia/podcasts","__typename":"Redirect"}],"Position":55,"__typename":"TaxonomyDictionary","Children":[]},{"Id":"56","Name":"Webcasts","Menu":true,"ParentId":"23","Redirects":[{"Path":"/resources/multimedia/webcasts","__typename":"Redirect"}],"Position":56,"__typename":"TaxonomyDictionary","Children":[]},{"Id":"57","Name":"Videos","Menu":true,"ParentId":"23","Redirects":[{"Path":"/resources/multimedia/videos","__typename":"Redirect"}],"Position":54,"__typename":"TaxonomyDictionary","Children":[]}]},{"Id":"24","Name":"White Papers","Menu":true,"ParentId":"6","Redirects":[{"Path":"/resources/white-papers","__typename":"Redirect"}],"Position":23,"__typename":"TaxonomyDictionary","Children":[]},{"Id":"25","Name":"Special Reports","Menu":true,"ParentId":"6","Redirects":[{"Path":"/resources/special-reports","__typename":"Redirect"}],"Position":24,"__typename":"TaxonomyDictionary","Children":[{"Id":"58","Name":"Annual Review and Outlook","Menu":true,"ParentId":"25","Redirects":[{"Path":"/resources/special-reports/annual-review-and-outlook","__typename":"Redirect"}],"Position":57,"__typename":"TaxonomyDictionary","Children":[]},{"Id":"59","Name":"Top Rankings","Menu":true,"ParentId":"25","Redirects":[{"Path":"/resources/special-reports/top-rankings","__typename":"Redirect"}],"Position":58,"__typename":"TaxonomyDictionary","Children":[{"Id":"84","Name":"Top 100 US Exporters","Menu":true,"ParentId":"59","Redirects":[{"Path":"/resources/special-reports/top-rankings/top-100-us-exporters","__typename":"Redirect"}],"Position":81,"__typename":"TaxonomyDictionary","Children":[]},{"Id":"85","Name":"Top 100 US Importers","Menu":true,"ParentId":"59","Redirects":[{"Path":"/resources/special-reports/top-rankings/top-100-us-importers","__typename":"Redirect"}],"Position":81,"__typename":"TaxonomyDictionary","Children":[]},{"Id":"86","Name":"Top 25 LTL Trucking Companies","Menu":true,"ParentId":"59","Redirects":[{"Path":"/resources/special-reports/top-rankings/top-25-ltl-trucking-companies","__typename":"Redirect"}],"Position":82,"__typename":"TaxonomyDictionary","Children":[]},{"Id":"87","Name":"Top 25 North American Ports","Menu":true,"ParentId":"59","Redirects":[{"Path":"/resources/special-reports/top-rankings/top-25-north-american-ports","__typename":"Redirect"}],"Position":83,"__typename":"TaxonomyDictionary","Children":[]},{"Id":"88","Name":"Top 25 Truckload Companies","Menu":true,"ParentId":"59","Redirects":[{"Path":"/resources/special-reports/top-rankings/top-25-truckload-companies","__typename":"Redirect"}],"Position":84,"__typename":"TaxonomyDictionary","Children":[]},{"Id":"89","Name":"Top 40 Container Carriers","Menu":true,"ParentId":"59","Redirects":[{"Path":"/resources/special-reports/top-rankings/top-40-container-carriers","__typename":"Redirect"}],"Position":85,"__typename":"TaxonomyDictionary","Children":[]},{"Id":"90","Name":"Top 50 3PLs","Menu":true,"ParentId":"59","Redirects":[{"Path":"/resources/special-reports/top-rankings/top-50-3pls","__typename":"Redirect"}],"Position":86,"__typename":"TaxonomyDictionary","Children":[]},{"Id":"91","Name":"Top 50 Global Container Ports","Menu":true,"ParentId":"59","Redirects":[{"Path":"/resources/special-reports/top-rankings/top-50-global-container-ports","__typename":"Redirect"}],"Position":87,"__typename":"TaxonomyDictionary","Children":[]},{"Id":"92","Name":"Top 50 Global Transportation Providers","Menu":true,"ParentId":"59","Redirects":[{"Path":"/resources/special-reports/top-rankings/top-50-global-transportation-providers","__typename":"Redirect"}],"Position":88,"__typename":"TaxonomyDictionary","Children":[]},{"Id":"93","Name":"Top 50 Trucking Companies","Menu":true,"ParentId":"59","Redirects":[{"Path":"/resources/special-reports/top-rankings/top-50-trucking-companies","__typename":"Redirect"}],"Position":89,"__typename":"TaxonomyDictionary","Children":[]}]},{"Id":"60","Name":"Quarterly Intelligence Report","Menu":true,"ParentId":"25","Redirects":[{"Path":"/resources/special-reports/quarterly-intelligence-report","__typename":"Redirect"}],"Position":59,"__typename":"TaxonomyDictionary","Children":[]},{"Id":"61","Name":"Intermodal Savings Index","Menu":true,"ParentId":"25","Redirects":[{"Path":"/resources/special-reports/intermodal-savings-index","__typename":"Redirect"}],"Position":60,"__typename":"TaxonomyDictionary","Children":[]},{"Id":"62","Name":"Domestic Intermodal Service Scorecard","Menu":true,"ParentId":"25","Redirects":[{"Path":"/resources/special-reports/domestic-intermodal-service-scorecard","__typename":"Redirect"}],"Position":61,"__typename":"TaxonomyDictionary","Children":[]},{"Id":"63","Name":"Breakbulk Quarterly Intelligence","Menu":true,"ParentId":"25","Redirects":[{"Path":"/resources/special-reports/breakbulk-quarterly-intelligence","__typename":"Redirect"}],"Position":62,"__typename":"TaxonomyDictionary","Children":[]},{"Id":"64","Name":"Platts Containers Update","Menu":true,"ParentId":"25","Redirects":[{"Path":"/resources/special-reports/platts-containers-update","__typename":"Redirect"}],"Position":63,"__typename":"TaxonomyDictionary","Children":[]}]},{"Id":"26","Name":"Press Releases","Menu":true,"ParentId":"6","Redirects":[{"Path":"/resources/press-releases","__typename":"Redirect"}],"Position":25,"__typename":"TaxonomyDictionary","Children":[]},{"Id":"27","Name":"Media Kit","Menu":true,"ParentId":"6","Redirects":[{"Path":"/resources/media-kit","__typename":"Redirect"}],"Position":26,"__typename":"TaxonomyDictionary","Children":[]},{"Id":"28","Name":"Other","Menu":true,"ParentId":"6","Redirects":[{"Path":"/resources/other","__typename":"Redirect"}],"Position":27,"__typename":"TaxonomyDictionary","Children":[]}]},{"Id":"7","Name":"Gateway","Menu":true,"ParentId":null,"Redirects":[{"Path":"/gateway","__typename":"Redirect"}],"Position":7,"__typename":"TaxonomyDictionary","Children":[]}],"pageSpecificProps":{"heading":"Strike bullet dodged for now, but raises questions of market resilience: analyst","description":"Market participants yearning for a market where adverse events never lead to major supply chain hiccups are essentially asking for a reality that has never existed, writes Lars Jensen.","featureImage":"/images/phoenix/5745224_0.1.jpg","errors":[],"article":{"Id":"5745208_JournalOfCommerce","Attachments":[{"FileName":"5745031_0.1.jpg","FileType":"Nondownloadable","Title":null,"__typename":"Attachment"},{"FileName":"5745224_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyPlainText":"It could be said that global shipping dodged a bullet with the brief, three-day strike on the US East and Gulf coasts. However, it should be noted that the operational ripple effects will be felt until mid-November, and the possibility of a new strike on Jan. 15 could create a market impact from mid-November until the end of the year. And it also raises questions as to whether we should be concerned about the resilience of the supply chain linking the US to the rest of the world. First, the ripple effects from the short strike. About 60 vessels had to drop anchor and await a port reopening during the strike. Those vessels will suffer a delay of at least three days. More vessels will suffer delays as the ports are unable to handle the backlog instantaneously. Consequently, those vessels will arrive back at origin in Europe, Asia and Latin America with a delay — in turn causing a drop in export capacity in those regions with a time delay equal to the usual transit time for cargo coming from the US. The shortest impact will be in Europe and the northern reaches of Latin America where this delay will be felt within the next two weeks, and the time delay will be longest to Asia, where the effect will not be felt until mid-November. The next issue would be a possible strike in mid-January. Chinese New Year is on Jan. 29. Usual seasonality would see significant volumes loaded from China to the US from the end of December and during January. If shippers are concerned about a new strike, we might expect to see a shift of some cargo away from the East Coast and over to the West Coast during this seasonal peak, as well as potentially an earlier shipment of cargo than usual. This could place some pressure on the trans-Pacific trade from early December, and on Asia-US West Coast during January especially. This issue can be avoided, of course, if the International Longshoremen’s Association (ILA) and United States Maritime Alliance (USMX) reach final agreement on a new master contract within the next month and a half. What does a resilient supply chain mean? But the broader question then arises: Is the supply chain to and from the US sufficiently resilient? Not only did we have to manage the pandemic ripple effects, but 2024 alone has had its own share of issues with the Red Sea crisis, a strong early peak season causing a surge in spot rates, the last-minute cancellation of a rail strike in Canada and now the three-day strike at US East and Gulf coast ports. If by resilience we mean that the supply chain always has ample capacity no matter which problems arise, then the supply chain is not 100% resilient and it would be unrealistic to expect this to ever be the case — a practical example being the Red Sea crisis. Global supply chain stakeholders were lucky that the crisis erupted at a point in time when the carriers had created a substantial overcapacity of vessels. This allowed for vessels to divert around southern Africa without major issues. But had the carriers not over-ordered on vessels, 2024 would have looked very different as it would have been physically impossible to handle the full global trade volumes while having to divert around Africa. How about resilience in the face of potential strike actions? We have seen this issue multiple times in the past as well. We had the go-slow actions on the US West Coast in 2015 that led to an unprecedented pileup of vessels outside Los Angeles and Long Beach — only later superseded by the pandemic problems. We had the 10-day closure of West Coast ports in 2002. Strike action in different countries around the world is basically part of the normal way the market operates. This year has also seen port strikes in various places in Europe, as well as Australia. If resilience means never having to risk a bottleneck due to labor action, that has clearly never been the case — and likely never will be the case. Market participants yearning for a market where adverse events never lead to major supply chain hiccups are essentially asking for a reality that has never existed. ‘Disruptive events’ loom It is clear that carriers over-ordered vessels based on their profits in 2021–22, leading to significant overcapacity in 2023–24 that caused freight rates to drop to loss-making levels for carriers in late 2023. This was a clear illustration that there is not a willingness to pay for having resilience in the form of having excess capacity in case of a major disruption. In turn, this means that when such capacity is needed, it is expensive to tap into. The baseline expectation for the market in the future should be that the major swings we have seen since 2020 are not necessarily unusual events. We might very well be looking at a future where we will see more of these large swings between overcapacity and loss-making carriers interspersed with capacity crunches and very high freight rates whenever the market is hit by external disruptive events. But will we get such disruptive events? The list of potential events is, unfortunately, quite extensive and includes a spread of the Middle East crisis to the Strait of Hormuz, challenges with China in the South China Sea and Taiwan Strait, a rapidly escalating trade war if a new Trump administration places triple-digit tariffs on multiple countries, natural disasters destroying vital container terminals, and highly destructive cyberattacks. And this is before the “black swan” events that are completely unexpected, such as the sudden de facto closure of the southern Red Sea and Suez Canal. Contact Lars Jensen at lars.jensen@vespucci-maritime.com . ","BodyHtml":"\u003cdiv\u003e\u003cp\u003eIt could be said that global shipping dodged a bullet with the brief, three-day strike on the US East and Gulf coasts. However, it should be noted that the operational ripple effects will be felt until mid-November, \u003ca\u003eand the possibility of a new strike on Jan. 15\u003c/a\u003e could create a market impact from mid-November until the end of the year. And it also raises questions as to whether we should be concerned about the resilience of the supply chain linking the US to the rest of the world. \u003c/p\u003e\u003cdiv\u003e\u003cimg\u003e\u003c/div\u003e\u003cp\u003eFirst, the ripple effects from the short strike. About 60 vessels had...","Metadata":{"BylineOverwrite":"Lars Jensen, CEO and Partner, Vespucci Maritime, and Journal of Commerce Analyst ","AuthorCompanyOrEventLink":null,"PaywallLocked":true,"FeatureImageCopyright":"The list of potential disruptive events that could affect the global supply chain going forward is extensive, notes analyst Lars Jensen. Photo credit: Edssventura / Shutterstock.com.","__typename":"Metadata"},"ModDate":"1728411434637","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"}],"__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1728398113000","TitlePlainText":"Strike bullet dodged for now, but raises questions of market resilience: analyst","Published":true,"Redirects":[{"Path":"/article/strike-bullet-dodged-for-now-but-raises-questions-of-market-resilience-analyst-5745208","__typename":"Redirect"},{"Path":"/article/strike-bullet-dodged-for-now-but-raises-larger-questions-of-market-resilience-analyst-5745208","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eMarket participants yearning for a market where adverse events never lead to major supply chain hiccups are essentially asking for a reality that has never existed, writes Lars Jensen.\u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"Market participants yearning for a market where adverse events never lead to major supply chain hiccups are essentially asking for a reality that has never existed, writes Lars Jensen.","__typename":"Document"},"chartsInArticle":[],"breadcrumbs":[{"Id":"1","Name":"Maritime","Menu":true,"ParentId":null,"Redirects":[{"Path":"/maritime","__typename":"Redirect"}],"Position":1,"__typename":"TaxonomyDictionary","Children":[{"Id":"9","Name":"Container Shipping News","Menu":true,"ParentId":"1","Redirects":[{"Path":"/maritime/container-shipping-news","__typename":"Redirect"}],"Position":8,"__typename":"TaxonomyDictionary","Children":[{"Id":"34","Name":"Container lines","Menu":true,"ParentId":"9","Redirects":[{"Path":"/maritime/container-shipping-news/container-lines","__typename":"Redirect"}],"Position":33,"__typename":"TaxonomyDictionary","Children":[]},{"Id":"35","Name":"Trans-Atlantic","Menu":true,"ParentId":"9","Redirects":[{"Path":"/maritime/container-shipping-news/trans-atlantic","__typename":"Redirect"}],"Position":36,"__typename":"TaxonomyDictionary","Children":[]},{"Id":"36","Name":"Forwarding","Menu":true,"ParentId":"9","Redirects":[{"Path":"/maritime/container-shipping-news/forwarding","__typename":"Redirect"}],"Position":34,"__typename":"TaxonomyDictionary","Children":[]},{"Id":"37","Name":"Asia-Europe","Menu":true,"ParentId":"9","Redirects":[{"Path":"/maritime/container-shipping-news/asia-europe","__typename":"Redirect"}],"Position":37,"__typename":"TaxonomyDictionary","Children":[]},{"Id":"38","Name":"Trans-Pacific","Menu":true,"ParentId":"9","Redirects":[{"Path":"/maritime/container-shipping-news/trans-pacific","__typename":"Redirect"}],"Position":35,"__typename":"TaxonomyDictionary","Children":[]}]},{"Id":"8","Name":"Breakbulk News","Menu":true,"ParentId":"1","Redirects":[{"Path":"/maritime/breakbulk-news","__typename":"Redirect"}],"Position":9,"__typename":"TaxonomyDictionary","Children":[{"Id":"29","Name":"Breakbulk carriers","Menu":true,"ParentId":"8","Redirects":[{"Path":"/maritime/breakbulk-news/breakbulk-carriers","__typename":"Redirect"}],"Position":28,"__typename":"TaxonomyDictionary","Children":[]},{"Id":"30","Name":"Ro/ro cargo","Menu":true,"ParentId":"8","Redirects":[{"Path":"/maritime/breakbulk-news/roro-cargo","__typename":"Redirect"}],"Position":31,"__typename":"TaxonomyDictionary","Children":[]},{"Id":"31","Name":"Energy projects","Menu":true,"ParentId":"8","Redirects":[{"Path":"/maritime/breakbulk-news/energy-projects","__typename":"Redirect"}],"Position":29,"__typename":"TaxonomyDictionary","Children":[]},{"Id":"32","Name":"Heavy-haul transport","Menu":true,"ParentId":"8","Redirects":[{"Path":"/maritime/breakbulk-news/heavy-haul-transport","__typename":"Redirect"}],"Position":32,"__typename":"TaxonomyDictionary","Children":[]},{"Id":"33","Name":"Project cargo","Menu":true,"ParentId":"8","Redirects":[{"Path":"/maritime/breakbulk-news/project-cargo","__typename":"Redirect"}],"Position":30,"__typename":"TaxonomyDictionary","Children":[]}]},{"Id":"10","Name":"Port News","Menu":true,"ParentId":"1","Redirects":[{"Path":"/maritime/port-news","__typename":"Redirect"}],"Position":10,"__typename":"TaxonomyDictionary","Children":[{"Id":"39","Name":"Drayage","Menu":true,"ParentId":"10","Redirects":[{"Path":"/maritime/port-news/drayage","__typename":"Redirect"}],"Position":38,"__typename":"TaxonomyDictionary","Children":[]},{"Id":"40","Name":"Port infrastructure","Menu":true,"ParentId":"10","Redirects":[{"Path":"/maritime/port-news/port-infrastructure","__typename":"Redirect"}],"Position":41,"__typename":"TaxonomyDictionary","Children":[]},{"Id":"41","Name":"Breakbulk ports","Menu":true,"ParentId":"10","Redirects":[{"Path":"/maritime/port-news/breakbulk-ports","__typename":"Redirect"}],"Position":44,"__typename":"TaxonomyDictionary","Children":[]},{"Id":"42","Name":"North American ports","Menu":true,"ParentId":"10","Redirects":[{"Path":"/maritime/port-news/north-american-ports","__typename":"Redirect"}],"Position":39,"__typename":"TaxonomyDictionary","Children":[]},{"Id":"43","Name":"Marine terminals","Menu":true,"ParentId":"10","Redirects":[{"Path":"/maritime/port-news/marine-terminals","__typename":"Redirect"}],"Position":42,"__typename":"TaxonomyDictionary","Children":[]},{"Id":"44","Name":"International ports","Menu":true,"ParentId":"10","Redirects":[{"Path":"/maritime/port-news/international-ports","__typename":"Redirect"}],"Position":40,"__typename":"TaxonomyDictionary","Children":[]},{"Id":"45","Name":"Longshore labor","Menu":true,"ParentId":"10","Redirects":[{"Path":"/maritime/port-news/longshore-labor","__typename":"Redirect"}],"Position":43,"__typename":"TaxonomyDictionary","Children":[]}]}]}],"columnLatestHeadlines":{"data":{"items":[{"Id":"5833725_JournalOfCommerce","Attachments":[{"FileName":"5833731_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyPlainText":"Taiwan’s Evergreen Marine Asia and PSA Singapore on Tuesday signed a deal to form a joint venture terminal operation that will become Evergreen’s Southeast Asia transshipment center. Evergreen said the Singapore hub will strengthen its operational efficiency and bolster the competitiveness of its fleet. Evergreen will invest up to $57 million for a 49% stake in the venture, called Evergreen-PSA Terminal Ltd, the carrier said in a filing to the Taiwan stock exchange. Terminal operations are expected to start by the end of this year. Evergreen said the move will allow the carrier’s ships in Singapore to “obtain priority berthing rights [and] have exclusive loading and unloading resources to reduce waiting time for berthing operations.” The terminal is the first joint venture facility between Evergreen and PSA. ”As the company’s business expands, we are always looking for like-minded partners to build high-efficiency terminals in important locations,” Evergreen Marine Chairman Chang Yan Yi said in the statement. The deal adds to PSA Singapore’s growing stable of similar joint venture terminals with other carriers, notably Cosco Shipping, CMA CGM, HMM, Mediterranean Shipping Co. and Ocean Network Express. Evergreen directors decided in August to set up a joint venture company with PSA just weeks after Singapore experienced unprecedented congestion in May and June, with vessel delays of up to eight to 10 days. At the time, Singapore’s Maritime and Port Authority (MPA) said the problems were the culmination of months of disruption as carriers curtailed or blanked services and discharged cargo in Singapore as vessels diverted around southern Africa to avoid the Red Sea. The situation was exacerbated due to strong east-west cargo volumes as shippers consigned cargo early to offset delays. Contact Keith Wallis at keithwallis@hotmail.com .","BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eTaiwan’s Evergreen Marine Asia and PSA Singapore on Tuesday signed a deal to form a joint venture terminal operation that will become Evergreen’s Southeast Asia transshipment center. Evergreen said the Singapore hub will strengthen its operational efficiency and bolster the competitiveness of its fleet. \u003c/p\u003e\u003cp\u003eEvergreen will invest up to $57 million for a 49% stake in the venture, called Evergreen-PSA Terminal Ltd, the carrier said in a filing to the Taiwan stock exchange.\u003c/p\u003e\u003cp\u003eTerminal operations are expected to start by the end of this year.\u003c/p\u003e\u003cp\u003eEvergreen said the move will allow the carrier’s ships in Singapore to “obtain priority berthing rights [and] have exclusive loading and unloading resources to reduce waiting time for berthing operations.”\u003c/p\u003e\u003cp\u003eThe terminal is the first joint venture facility between Evergreen and PSA.\u003c/p\u003e\u003cp\u003e”As the company’s business expands, we are always looking for like-minded partners to build high-efficiency terminals in important locations,” Evergreen Marine Chairman Chang Yan Yi said in the statement.\u003c/p\u003e\u003cp\u003eThe deal adds to PSA Singapore’s growing stable of similar joint venture terminals with other carriers, notably Cosco Shipping, CMA CGM, HMM, Mediterranean Shipping Co. and Ocean Network Express.\u003c/p\u003e\u003cp\u003eEvergreen directors decided in August to set up a joint venture company with PSA just weeks after Singapore experienced unprecedented congestion in May and June, with vessel delays of up to eight to 10 days.\u003c/p\u003e\u003cp\u003eAt the time, Singapore’s Maritime and Port Authority (MPA) said the problems were the culmination of months of disruption as carriers curtailed or blanked services and discharged cargo in Singapore as vessels diverted around southern Africa to avoid the Red Sea. The situation was exacerbated due to strong east-west cargo volumes as shippers consigned cargo early to offset delays.\u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Keith Wallis at \u003c/i\u003e\u003ca href=\"mailto:keithwallis@hotmail.com\"\u003e\u003ci\u003ekeithwallis@hotmail.com\u003c/i\u003e\u003c/a\u003e.\u003c/p\u003e\u003c/div\u003e","Metadata":{"BylineOverwrite":null,"AuthorCompanyOrEventLink":null,"PaywallLocked":true,"FeatureImageCopyright":"Evergreen will invest up to $57 million for a 49% stake in the terminal venture with PSA Singapore. Photo credit: Felipe Sanchez / Shutterstock.com.","EventDate":null,"__typename":"Metadata"},"ModDate":"1732661411060","Taxonomy":{"MainCategory":[{"Id":"34","Name":"Container lines","Redirects":[{"Path":"/maritime/container-shipping-news/container-lines","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"AdditionalCategories":[{"Id":"43","Name":"Marine terminals","Redirects":[{"Path":"/maritime/port-news/marine-terminals","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"44","Name":"International ports","Redirects":[{"Path":"/maritime/port-news/international-ports","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"ContentType":"ARTICLE","__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"Keith Wallis, Special Correspondent","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1732657288000","TitlePlainText":"Evergreen sets up transshipment hub in Singapore with PSA terminal deal","Published":true,"Redirects":[{"Path":"/article/evergreen-sets-up-transshipment-hub-in-singapore-with-psa-terminal-deal-5833725","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eThe agreement was set in motion by Evergreen just weeks after Singapore experienced unprecedented congestion in May and June, with vessel delays of up to 10 days.\u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"The agreement was set in motion by Evergreen just weeks after Singapore experienced unprecedented congestion in May and June, with vessel delays of up to 10 days.","__typename":"Document"},{"Id":"5833589_JournalOfCommerce","Attachments":[{"FileName":"5833574_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyPlainText":"From its origins over a decade ago, NYSHEX, founded and led by Gordon Downes, has always aimed to advance a simple yet stubbornly elusive concept in container shipping: integrity of contracts. Incomprehensible to outsiders, signed contracts — many pages long and vetted by lawyers — are unenforceable when confronted by the real-world forces of supply and demand and volatile pricing. “The big problem that prompted us to start NYSHEX is contracts in our industry don’t perform,” Downes told the Journal of Commerce. In many cases, the shipper or carrier fails to live up to the contract terms, whether that be a carrier unwilling to provide vessel space or a shipper steering cargo to other carriers or non-vessel-operating common carriers (NVOs) to obtain a lower rate, thus failing to deliver the agreed-upon volumes. Triggers for failed contracts occur when spot rates deviate significantly from contract rates and carriers blank sailings or omit ports on short notice due to changes in demand, creating shortfalls in available capacity. Downes said ocean container contracts have just a 65% fulfillment rate. Although such practices undermine trust and stress relationships to the breaking point, no scenario results in serious consequences for the offending party. Litigation or government enforcement remain rare outside of a tiny handful of highly publicized cases. Originally, NYSHEX, founded by Downes in 2015 “to solve the problem of poor contract fulfillment,” aimed to create an exchange whereby mutually committed — meaning enforceable — contracts could be executed by shippers, NVOs and carriers under full approval of the US Federal Maritime Commission (FMC) and the auspices of the NYSHEX brand. To the limited extent the market availed itself of such contracts, they worked: in the vast majority of cases, both parties lived up to what they committed to. Still, the penalties meant to ensure compliance “can put a lot of strain on relationships, especially when the spot rates are so volatile,” Downes said. But while the concept found some uptake, demand was cyclical and could not overcome at scale the market forces that, in peculiar container shipping mentality, frequently lead each side to seek near-term pricing gain, if it is to be had, at the expense of longer-term certainty of space or volumes. Whether it’s an obsessively procurement-based mindset on the part of shippers in seeking to drive prices lower whenever possible, or carriers seeing better opportunities on the spot market, sacrifices in pursuit of certainty have yet to take hold on an industrywide level. If there was ever a moment for that mentality to be challenged, it was the pandemic, which showed shippers how quickly and painfully vessel space can dry up in a crisis. And yet the problem remains. New technology and products But NYSHEX persevered with its original vision, even if that meant applying it in new ways. The company developed technology that enables parties to monitor contract performance, drawing them into a real-time collaborative environment where issues can be identified and resolved on the spot, versus after the fact during increasingly infrequent quarterly performance reviews. In other words, if contracts can be mutually monitored in real time, the odds are better the parties will comply. Now NYSHEX is delving yet further into solving the fundamental problem: promoting the use of index-linked contracts as a way to build contract integrity and certainty into ocean container supply chains. In announcing a Series C funding round last week, NYSHEX made a strong statement that there is traction in the idea, however long it may have been around. The funding round attracted participation from existing investors, including Goldman Sachs, and new ones, including the Intercontinental Exchange (NYSE:ICE), a leading exchange operator which will calculate the new indices based on actual rates paid by shippers. Other container freight rate indices tend to be based on traditional price discovery performed by analysts. It said it will launch a new series of indices and tools to administer index-linked contracts. The question, then, is whether index-linked contracts are able to move the industry forward in addressing the continuing core problem of a lack of contract integrity. Linking pricing to an index means shippers’ rates face less risk of falling out of the range of prevailing rates and cargo being left behind at origin. But there is less budget certainty which clashes with annual budgeting cycles at beneficial cargo owners (BCOs). And while there are futures contracts traded, such as an active market of day traders on the Shanghai International Energy Exchange (INE China), which launched trading in a Containerized Freight Index Futures Contract in 2023, they haven’t built the liquidity or credibility to be of interest to BCO finance teams who would engage in hedging against adverse movements in ocean rates. And carriers have been outspoken about their declining interest in container freight futures. Index-linked contracts have a history of going in and out of fashion; they fell into fashion during the pandemic when shippers were desperate for space but fell out once the extremes of the disruptions were over. Also holding back index-linked contracts are shipper and carrier lawyers needing to come to agree on terms and conditions, frequently a difficult hurdle to overcome. Now, amid a continuing tight market fueled by Red Sea reroutings and robust 2024 volumes, there is more talk of using index-linked contracts. But just as it was before, that could just be cyclical. Contact Peter Tirschwell at peter.tirschwell@spglobal.com .","BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eFrom its origins over a decade ago, NYSHEX, founded and led by Gordon Downes, has always aimed to advance a simple yet stubbornly elusive concept in container shipping: integrity of contracts. \u003c/p\u003e\u003cp\u003eIncomprehensible to outsiders, signed contracts — many pages long and vetted by lawyers — are unenforceable when confronted by the real-world forces of supply and demand and volatile pricing. \u003c/p\u003e\u003cp\u003e“The big problem that prompted us to start NYSHEX is contracts in our industry don’t perform,” Downes told the \u003ci\u003eJournal of Commerce\u003c/i\u003e. \u003c/p\u003e\u003cp\u003eIn many cases, the shipper or carrier fails to live up to the contract terms, whether that be a carrier unwilling to provide vessel space or a shipper steering cargo to other carriers or non-vessel-operating common carriers (NVOs) to obtain a lower rate, thus failing to deliver the agreed-upon volumes. \u003c/p\u003e\u003cp\u003eTriggers for failed contracts occur when spot rates deviate significantly from contract rates and carriers blank sailings or omit ports on short notice due to changes in demand, creating shortfalls in available capacity. Downes said ocean container contracts have just a 65% fulfillment rate. \u003c/p\u003e\u003cp\u003eAlthough such practices undermine trust and stress relationships to the breaking point, no scenario results in serious consequences for the offending party. Litigation or government enforcement remain rare outside of a tiny handful of highly publicized cases. \u003c/p\u003e\u003cp\u003eOriginally, NYSHEX, founded by Downes in 2015 “to solve the problem of poor contract fulfillment,” aimed to create an exchange whereby mutually committed — meaning enforceable — contracts could be executed by shippers, NVOs and carriers under full approval of the US Federal Maritime Commission (FMC) and the auspices of the NYSHEX brand. To the limited extent the market availed itself of such contracts, they worked: in the vast majority of cases, both parties lived up to what they committed to. Still, the penalties meant to ensure compliance “can put a lot of strain on relationships, especially when the spot rates are so volatile,” Downes said. \u003c/p\u003e\u003cp\u003eBut while the concept found some uptake, demand was cyclical and could not overcome at scale the market forces that, in peculiar container shipping mentality, frequently lead each side to seek near-term pricing gain, if it is to be had, at the expense of longer-term certainty of space or volumes. \u003c/p\u003e\u003cp\u003eWhether it’s an obsessively procurement-based mindset on the part of shippers in seeking to drive prices lower whenever possible, or carriers seeing better opportunities on the spot market, sacrifices in pursuit of certainty have yet to take hold on an industrywide level. \u003c/p\u003e\u003cp\u003eIf there was ever a moment for that mentality to be challenged, it was the pandemic, which showed shippers how quickly and painfully vessel space can dry up in a crisis. And yet the problem remains. \u003c/p\u003e\u003ch3\u003eNew technology and products\u003c/h3\u003e\u003cp\u003eBut NYSHEX persevered with its original vision, even if that meant applying it in new ways. The company developed technology that enables parties to monitor contract performance, drawing them into a real-time collaborative environment where issues can be identified and resolved on the spot, versus after the fact during increasingly infrequent quarterly performance reviews. In other words, if contracts can be mutually monitored in real time, the odds are better the parties will comply. \u003c/p\u003e\u003cp\u003eNow NYSHEX is delving yet further into solving the fundamental problem: promoting the use of index-linked contracts as a way to build contract integrity and certainty into ocean container supply chains. \u003c/p\u003e\u003cp\u003eIn announcing a Series C funding round last week, NYSHEX made a strong statement that there is traction in the idea, however long it may have been around. The funding round attracted participation from existing investors, including Goldman Sachs, and new ones, including the Intercontinental Exchange (NYSE:ICE), a leading exchange operator which will calculate the new indices based on actual rates paid by shippers. Other container freight rate indices tend to be based on traditional price discovery performed by analysts. It said it will launch a new series of indices and tools to administer index-linked contracts. \u003c/p\u003e\u003cp\u003eThe question, then, is whether index-linked contracts are able to move the industry forward in addressing the continuing core problem of a lack of contract integrity. \u003c/p\u003e\u003cp\u003eLinking pricing to an index means shippers’ rates face less risk of falling out of the range of prevailing rates and cargo being left behind at origin. But there is less budget certainty which clashes with annual budgeting cycles at beneficial cargo owners (BCOs). And while there are futures contracts traded, such as an active market of day traders on the Shanghai International Energy Exchange (INE China), which launched trading in a Containerized Freight Index Futures Contract in 2023, they haven’t built the liquidity or credibility to be of interest to BCO finance teams who would engage in hedging against adverse movements in ocean rates. And carriers have been outspoken about their declining interest in container freight futures. \u003c/p\u003e\u003cp\u003eIndex-linked contracts have a history of going in and out of fashion; they fell into fashion during the pandemic when shippers were desperate for space but fell out once the extremes of the disruptions were over. Also holding back index-linked contracts are shipper and carrier lawyers needing to come to agree on terms and conditions, frequently a difficult hurdle to overcome. \u003c/p\u003e\u003cp\u003eNow, amid a continuing tight market fueled by Red Sea reroutings and robust 2024 volumes, there is more talk of using index-linked contracts. But just as it was before, that could just be cyclical. \u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Peter Tirschwell at \u003c/i\u003e\u003ca href=\"mailto:peter.tirschwell@spglobal.com\"\u003e\u003ci\u003epeter.tirschwell@spglobal.com\u003c/i\u003e\u003c/a\u003e.\u003c/p\u003e\u003c/div\u003e","Metadata":{"BylineOverwrite":null,"AuthorCompanyOrEventLink":null,"PaywallLocked":true,"FeatureImageCopyright":"The COVID-19 pandemic showed shippers just how quickly and painfully vessel space can dry up in a crisis. Photo credit: GreenOak / Shutterstock.com.","EventDate":null,"__typename":"Metadata"},"ModDate":"1732654040583","Taxonomy":{"MainCategory":[{"Id":"34","Name":"Container lines","Redirects":[{"Path":"/maritime/container-shipping-news/container-lines","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"AdditionalCategories":[{"Id":"17","Name":"Logistics Technology News","Redirects":[{"Path":"/supply-chain/logistics-technology-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"ContentType":"ARTICLE","__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"Peter Tirschwell","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1732649662000","TitlePlainText":"NYSHEX keeps core vision while evolving in volatile container shipping market","Published":true,"Redirects":[{"Path":"/article/nyshex-keeps-core-vision-while-evolving-in-volatile-container-shipping-market-5833589","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eNYSHEX is making a renewed effort to solve the fundamental problem of ocean container supply chains, promoting the use of index-linked contracts to build contract integrity and certainty. \u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"NYSHEX is making a renewed effort to solve the fundamental problem of ocean container supply chains, promoting the use of index-linked contracts to build contract integrity and certainty.","__typename":"Document"},{"Id":"5833489_JournalOfCommerce","Attachments":[{"FileName":"5833487_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyPlainText":"Carriers are warning shippers to expect significant increases in their Emissions Trading System (ETS) surcharges in 2025 as the European Union carbon tax is expanded to cover 70% of all carrier emissions. The rise in ETS surcharges will come on top of the new fuel intensity regulation FuelEU Maritime that from Jan. 1 will force carriers to increase their use of more costly lower-emission fuels. “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.” CMA CGM is expecting an increase of about 75% in its current ETS surcharge amounts and will publish its revised ETS surcharges on Dec. 1. “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.” Maersk 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. “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.” Maersk also noted that the price of European allowances was expected to increase due to supply cuts. ‘Cap-and-trade’ principle Shipping 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. The 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. “This regulation’s costs will roughly increase by 75% from this year to next, depending on the price of emission allowances,” Hapag-Lloyd said. FuelEU 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.” From 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. The 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. “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. Several 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. Contact Greg Knowler at greg.knowler@spglobal.com .","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. ","EventDate":null,"__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"}],"ContentType":"ARTICLE","__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"}],"BodyPlainText":"Rate 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. Ocean 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. If 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. Markus 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. “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 Journal of Commerce. “We see very strong bookings for January as well, therefore we believe the short-term market will see further rate increases.” Other forwarders, however, had a different view of the market. “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. However, Meier noted that some carriers could be expecting disruption around the launch of the new Gemini Cooperation alliance between Maersk and Hapag-Lloyd in February. Gemini will operate a hub-and-spoke network, while at the same time Mediterranean Shipping Co. will launch a standalone network , with blank sailings, vessel delays and the carriers reshuffling fleets as they prepare for the changes. No sign of discounted rates The 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. “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.” The 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. Average 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 Journal of Commerce within S\u0026P Global. “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. Contact Greg Knowler at greg.knowler@spglobal.com .","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. ","EventDate":null,"__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"}],"ContentType":"ARTICLE","__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"}],"BodyPlainText":"Maritime employers at the Port of Montreal will try yet again to reach a deal with dockworkers on a new contract with a mediator’s help, heading off a government-brokered deal that aims to end the coast-to-coast strife hitting Canada’s major ports. The Maritime Employers Association (MEA) said in a statement Monday that it and the Canadian Union of Public Employees (CUPE) Local 375 mutually agreed to engage in a 90-day mediation process in a bid to come to terms on a new collective bargaining agreement covering 1,300 longshore workers at the port . The MEA said the process will be led by Gilles Charland, “an experienced mediator with a good knowledge of the industry.” The decision to engage with a mediator comes after Labor Minister Steve MacKinnon ordered the MEA to end a lockout of Local 375 stemming from its ongoing work stoppages . The mediation process means both sides won’t have to submit to a government-appointed arbitrator, also ordered by MacKinnon. Whether mediation succeeds is far from certain, however. The MEA said last month that it has engaged in 35 mediation meetings with Local 375 since mid-2023, with no resolution. Montreal’s port effectively reopened on Nov. 16 following MacKinnon’s back-to-work order. MacKinnon’s order also covered the ports in British Columbia where longshore foremen have been in protracted contract talks with maritime employers over a new contract and work rules following a semi-automation project at a Vancouver-area marine terminal. Local 514 of the International Longshore and Warehouse Union, the foremen’s union, said it plans to challenge the constitutionality of MacKinnon’s request . Yet its members also followed the return-to-work order, allowing the ports of Vancouver and Prince Rupert to reopen. Contact Michael Angell at michael.angell@spglobal.com .","BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eMaritime employers at the Port of Montreal will try yet again to reach a deal with dockworkers on a new contract with a mediator’s help, heading off a government-brokered deal that aims to end the coast-to-coast strife hitting Canada’s major ports. \u003c/p\u003e\u003cp\u003eThe Maritime Employers Association (MEA) said in a statement Monday that it and the Canadian Union of Public Employees (CUPE) Local 375 mutually agreed to engage in a 90-day mediation process in a bid to come to terms on \u003ca href=\"https://www.joc.com/article/canadian-shippers-urge-ottawa-to-act-as-montreal-port-talks-hit-impasse-5241393\"\u003ea new collective bargaining agreement covering 1,300 longshore workers at the port\u003c/a\u003e. \u003c/p\u003e\u003cp\u003eThe MEA said the process will be led by Gilles Charland, “an experienced mediator with a good knowledge of the industry.” \u003c/p\u003e\u003cp\u003eThe decision to engage with a mediator comes after \u003ca href=\"\"\u003eLabor Minister Steve MacKinnon ordered the MEA to end a lockout of Local 375\u003c/a\u003e stemming from \u003ca href=\"https://www.joc.com/article/bc-montreal-ports-set-to-reopen-under-orders-from-canadas-labor-chief-5792214\"\u003eits ongoing work stoppages\u003c/a\u003e. The mediation process means both sides won’t have to submit to a government-appointed arbitrator, also ordered by MacKinnon. \u003c/p\u003e\u003cp\u003eWhether mediation succeeds is far from certain, however. The MEA said last month that it has engaged in 35 mediation meetings with Local 375 since mid-2023, with no resolution. \u003c/p\u003e\u003cp\u003eMontreal’s port effectively reopened on Nov. 16 following MacKinnon’s back-to-work order. \u003c/p\u003e\u003cp\u003eMacKinnon’s order also covered the ports in British Columbia where longshore foremen have been in protracted contract talks with maritime employers over a new contract and work rules following a semi-automation project at a Vancouver-area marine terminal. \u003c/p\u003e\u003cp\u003eLocal 514 of the International Longshore and Warehouse Union, the foremen’s union, said \u003ca href=\"https://www.joc.com/article/bc-ports-to-reopen-but-longshore-union-plans-challenge-to-back-to-work-order-5810473\"\u003eit plans to challenge the constitutionality of MacKinnon’s request\u003c/a\u003e. Yet its members also followed the return-to-work order, allowing the ports of Vancouver and Prince Rupert to reopen. \u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Michael Angell at \u003c/i\u003e\u003ca href=\"mailto:michael.angell@spglobal.com\"\u003e\u003ci\u003emichael.angell@spglobal.com\u003c/i\u003e\u003c/a\u003e. \u003c/p\u003e\u003c/div\u003e","Metadata":{"BylineOverwrite":null,"AuthorCompanyOrEventLink":null,"PaywallLocked":true,"FeatureImageCopyright":"Montreal’s Maritime Employers Association has already engaged in 35 mediation sessions with its main longshore union, to no avail. Photo credit: PatrickLauzon photographe / Shutterstock.com. ","EventDate":null,"__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"}],"ContentType":"ARTICLE","__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"}],"itemsCount":434133,"nextToken":1,"__typename":"DocumentPaginatedList"}},"moreArticles":{"data":{"items":[{"Id":"5833725_JournalOfCommerce","Attachments":[{"FileName":"5833731_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyPlainText":"Taiwan’s Evergreen Marine Asia and PSA Singapore on Tuesday signed a deal to form a joint venture terminal operation that will become Evergreen’s Southeast Asia transshipment center. Evergreen said the Singapore hub will strengthen its operational efficiency and bolster the competitiveness of its fleet. Evergreen will invest up to $57 million for a 49% stake in the venture, called Evergreen-PSA Terminal Ltd, the carrier said in a filing to the Taiwan stock exchange. Terminal operations are expected to start by the end of this year. Evergreen said the move will allow the carrier’s ships in Singapore to “obtain priority berthing rights [and] have exclusive loading and unloading resources to reduce waiting time for berthing operations.” The terminal is the first joint venture facility between Evergreen and PSA. ”As the company’s business expands, we are always looking for like-minded partners to build high-efficiency terminals in important locations,” Evergreen Marine Chairman Chang Yan Yi said in the statement. The deal adds to PSA Singapore’s growing stable of similar joint venture terminals with other carriers, notably Cosco Shipping, CMA CGM, HMM, Mediterranean Shipping Co. and Ocean Network Express. Evergreen directors decided in August to set up a joint venture company with PSA just weeks after Singapore experienced unprecedented congestion in May and June, with vessel delays of up to eight to 10 days. At the time, Singapore’s Maritime and Port Authority (MPA) said the problems were the culmination of months of disruption as carriers curtailed or blanked services and discharged cargo in Singapore as vessels diverted around southern Africa to avoid the Red Sea. The situation was exacerbated due to strong east-west cargo volumes as shippers consigned cargo early to offset delays. Contact Keith Wallis at keithwallis@hotmail.com .","BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eTaiwan’s Evergreen Marine Asia and PSA Singapore on Tuesday signed a deal to form a joint venture terminal operation that will become Evergreen’s Southeast Asia transshipment center. Evergreen said the Singapore hub will strengthen its operational efficiency and bolster the competitiveness of its fleet. \u003c/p\u003e\u003cp\u003eEvergreen will invest up to $57 million for a 49% stake in the venture, called Evergreen-PSA Terminal Ltd, the carrier said in a filing to the Taiwan stock exchange.\u003c/p\u003e\u003cp\u003eTerminal operations are expected to start by the end of this year.\u003c/p\u003e\u003cp\u003eEvergreen said the move will allow the carrier’s ships in Singapore to “obtain priority berthing rights [and] have exclusive loading and unloading resources to reduce waiting time for berthing operations.”\u003c/p\u003e\u003cp\u003eThe terminal is the first joint venture facility between Evergreen and PSA.\u003c/p\u003e\u003cp\u003e”As the company’s business expands, we are always looking for like-minded partners to build high-efficiency terminals in important locations,” Evergreen Marine Chairman Chang Yan Yi said in the statement.\u003c/p\u003e\u003cp\u003eThe deal adds to PSA Singapore’s growing stable of similar joint venture terminals with other carriers, notably Cosco Shipping, CMA CGM, HMM, Mediterranean Shipping Co. and Ocean Network Express.\u003c/p\u003e\u003cp\u003eEvergreen directors decided in August to set up a joint venture company with PSA just weeks after Singapore experienced unprecedented congestion in May and June, with vessel delays of up to eight to 10 days.\u003c/p\u003e\u003cp\u003eAt the time, Singapore’s Maritime and Port Authority (MPA) said the problems were the culmination of months of disruption as carriers curtailed or blanked services and discharged cargo in Singapore as vessels diverted around southern Africa to avoid the Red Sea. The situation was exacerbated due to strong east-west cargo volumes as shippers consigned cargo early to offset delays.\u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Keith Wallis at \u003c/i\u003e\u003ca href=\"mailto:keithwallis@hotmail.com\"\u003e\u003ci\u003ekeithwallis@hotmail.com\u003c/i\u003e\u003c/a\u003e.\u003c/p\u003e\u003c/div\u003e","Metadata":{"BylineOverwrite":null,"AuthorCompanyOrEventLink":null,"PaywallLocked":true,"FeatureImageCopyright":"Evergreen will invest up to $57 million for a 49% stake in the terminal venture with PSA Singapore. Photo credit: Felipe Sanchez / Shutterstock.com.","EventDate":null,"__typename":"Metadata"},"ModDate":"1732661411060","Taxonomy":{"MainCategory":[{"Id":"34","Name":"Container lines","Redirects":[{"Path":"/maritime/container-shipping-news/container-lines","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"AdditionalCategories":[{"Id":"43","Name":"Marine terminals","Redirects":[{"Path":"/maritime/port-news/marine-terminals","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"44","Name":"International ports","Redirects":[{"Path":"/maritime/port-news/international-ports","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"ContentType":"ARTICLE","__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"Keith Wallis, Special Correspondent","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1732657288000","TitlePlainText":"Evergreen sets up transshipment hub in Singapore with PSA terminal deal","Published":true,"Redirects":[{"Path":"/article/evergreen-sets-up-transshipment-hub-in-singapore-with-psa-terminal-deal-5833725","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eThe agreement was set in motion by Evergreen just weeks after Singapore experienced unprecedented congestion in May and June, with vessel delays of up to 10 days.\u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"The agreement was set in motion by Evergreen just weeks after Singapore experienced unprecedented congestion in May and June, with vessel delays of up to 10 days.","__typename":"Document"},{"Id":"5833589_JournalOfCommerce","Attachments":[{"FileName":"5833574_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyPlainText":"From its origins over a decade ago, NYSHEX, founded and led by Gordon Downes, has always aimed to advance a simple yet stubbornly elusive concept in container shipping: integrity of contracts. Incomprehensible to outsiders, signed contracts — many pages long and vetted by lawyers — are unenforceable when confronted by the real-world forces of supply and demand and volatile pricing. “The big problem that prompted us to start NYSHEX is contracts in our industry don’t perform,” Downes told the Journal of Commerce. In many cases, the shipper or carrier fails to live up to the contract terms, whether that be a carrier unwilling to provide vessel space or a shipper steering cargo to other carriers or non-vessel-operating common carriers (NVOs) to obtain a lower rate, thus failing to deliver the agreed-upon volumes. Triggers for failed contracts occur when spot rates deviate significantly from contract rates and carriers blank sailings or omit ports on short notice due to changes in demand, creating shortfalls in available capacity. Downes said ocean container contracts have just a 65% fulfillment rate. Although such practices undermine trust and stress relationships to the breaking point, no scenario results in serious consequences for the offending party. Litigation or government enforcement remain rare outside of a tiny handful of highly publicized cases. Originally, NYSHEX, founded by Downes in 2015 “to solve the problem of poor contract fulfillment,” aimed to create an exchange whereby mutually committed — meaning enforceable — contracts could be executed by shippers, NVOs and carriers under full approval of the US Federal Maritime Commission (FMC) and the auspices of the NYSHEX brand. To the limited extent the market availed itself of such contracts, they worked: in the vast majority of cases, both parties lived up to what they committed to. Still, the penalties meant to ensure compliance “can put a lot of strain on relationships, especially when the spot rates are so volatile,” Downes said. But while the concept found some uptake, demand was cyclical and could not overcome at scale the market forces that, in peculiar container shipping mentality, frequently lead each side to seek near-term pricing gain, if it is to be had, at the expense of longer-term certainty of space or volumes. Whether it’s an obsessively procurement-based mindset on the part of shippers in seeking to drive prices lower whenever possible, or carriers seeing better opportunities on the spot market, sacrifices in pursuit of certainty have yet to take hold on an industrywide level. If there was ever a moment for that mentality to be challenged, it was the pandemic, which showed shippers how quickly and painfully vessel space can dry up in a crisis. And yet the problem remains. New technology and products But NYSHEX persevered with its original vision, even if that meant applying it in new ways. The company developed technology that enables parties to monitor contract performance, drawing them into a real-time collaborative environment where issues can be identified and resolved on the spot, versus after the fact during increasingly infrequent quarterly performance reviews. In other words, if contracts can be mutually monitored in real time, the odds are better the parties will comply. Now NYSHEX is delving yet further into solving the fundamental problem: promoting the use of index-linked contracts as a way to build contract integrity and certainty into ocean container supply chains. In announcing a Series C funding round last week, NYSHEX made a strong statement that there is traction in the idea, however long it may have been around. The funding round attracted participation from existing investors, including Goldman Sachs, and new ones, including the Intercontinental Exchange (NYSE:ICE), a leading exchange operator which will calculate the new indices based on actual rates paid by shippers. Other container freight rate indices tend to be based on traditional price discovery performed by analysts. It said it will launch a new series of indices and tools to administer index-linked contracts. The question, then, is whether index-linked contracts are able to move the industry forward in addressing the continuing core problem of a lack of contract integrity. Linking pricing to an index means shippers’ rates face less risk of falling out of the range of prevailing rates and cargo being left behind at origin. But there is less budget certainty which clashes with annual budgeting cycles at beneficial cargo owners (BCOs). And while there are futures contracts traded, such as an active market of day traders on the Shanghai International Energy Exchange (INE China), which launched trading in a Containerized Freight Index Futures Contract in 2023, they haven’t built the liquidity or credibility to be of interest to BCO finance teams who would engage in hedging against adverse movements in ocean rates. And carriers have been outspoken about their declining interest in container freight futures. Index-linked contracts have a history of going in and out of fashion; they fell into fashion during the pandemic when shippers were desperate for space but fell out once the extremes of the disruptions were over. Also holding back index-linked contracts are shipper and carrier lawyers needing to come to agree on terms and conditions, frequently a difficult hurdle to overcome. Now, amid a continuing tight market fueled by Red Sea reroutings and robust 2024 volumes, there is more talk of using index-linked contracts. But just as it was before, that could just be cyclical. Contact Peter Tirschwell at peter.tirschwell@spglobal.com .","BodyHtml":"\u003cdiv class=\"phx-topic\"\u003e\u003cp\u003eFrom its origins over a decade ago, NYSHEX, founded and led by Gordon Downes, has always aimed to advance a simple yet stubbornly elusive concept in container shipping: integrity of contracts. \u003c/p\u003e\u003cp\u003eIncomprehensible to outsiders, signed contracts — many pages long and vetted by lawyers — are unenforceable when confronted by the real-world forces of supply and demand and volatile pricing. \u003c/p\u003e\u003cp\u003e“The big problem that prompted us to start NYSHEX is contracts in our industry don’t perform,” Downes told the \u003ci\u003eJournal of Commerce\u003c/i\u003e. \u003c/p\u003e\u003cp\u003eIn many cases, the shipper or carrier fails to live up to the contract terms, whether that be a carrier unwilling to provide vessel space or a shipper steering cargo to other carriers or non-vessel-operating common carriers (NVOs) to obtain a lower rate, thus failing to deliver the agreed-upon volumes. \u003c/p\u003e\u003cp\u003eTriggers for failed contracts occur when spot rates deviate significantly from contract rates and carriers blank sailings or omit ports on short notice due to changes in demand, creating shortfalls in available capacity. Downes said ocean container contracts have just a 65% fulfillment rate. \u003c/p\u003e\u003cp\u003eAlthough such practices undermine trust and stress relationships to the breaking point, no scenario results in serious consequences for the offending party. Litigation or government enforcement remain rare outside of a tiny handful of highly publicized cases. \u003c/p\u003e\u003cp\u003eOriginally, NYSHEX, founded by Downes in 2015 “to solve the problem of poor contract fulfillment,” aimed to create an exchange whereby mutually committed — meaning enforceable — contracts could be executed by shippers, NVOs and carriers under full approval of the US Federal Maritime Commission (FMC) and the auspices of the NYSHEX brand. To the limited extent the market availed itself of such contracts, they worked: in the vast majority of cases, both parties lived up to what they committed to. Still, the penalties meant to ensure compliance “can put a lot of strain on relationships, especially when the spot rates are so volatile,” Downes said. \u003c/p\u003e\u003cp\u003eBut while the concept found some uptake, demand was cyclical and could not overcome at scale the market forces that, in peculiar container shipping mentality, frequently lead each side to seek near-term pricing gain, if it is to be had, at the expense of longer-term certainty of space or volumes. \u003c/p\u003e\u003cp\u003eWhether it’s an obsessively procurement-based mindset on the part of shippers in seeking to drive prices lower whenever possible, or carriers seeing better opportunities on the spot market, sacrifices in pursuit of certainty have yet to take hold on an industrywide level. \u003c/p\u003e\u003cp\u003eIf there was ever a moment for that mentality to be challenged, it was the pandemic, which showed shippers how quickly and painfully vessel space can dry up in a crisis. And yet the problem remains. \u003c/p\u003e\u003ch3\u003eNew technology and products\u003c/h3\u003e\u003cp\u003eBut NYSHEX persevered with its original vision, even if that meant applying it in new ways. The company developed technology that enables parties to monitor contract performance, drawing them into a real-time collaborative environment where issues can be identified and resolved on the spot, versus after the fact during increasingly infrequent quarterly performance reviews. In other words, if contracts can be mutually monitored in real time, the odds are better the parties will comply. \u003c/p\u003e\u003cp\u003eNow NYSHEX is delving yet further into solving the fundamental problem: promoting the use of index-linked contracts as a way to build contract integrity and certainty into ocean container supply chains. \u003c/p\u003e\u003cp\u003eIn announcing a Series C funding round last week, NYSHEX made a strong statement that there is traction in the idea, however long it may have been around. The funding round attracted participation from existing investors, including Goldman Sachs, and new ones, including the Intercontinental Exchange (NYSE:ICE), a leading exchange operator which will calculate the new indices based on actual rates paid by shippers. Other container freight rate indices tend to be based on traditional price discovery performed by analysts. It said it will launch a new series of indices and tools to administer index-linked contracts. \u003c/p\u003e\u003cp\u003eThe question, then, is whether index-linked contracts are able to move the industry forward in addressing the continuing core problem of a lack of contract integrity. \u003c/p\u003e\u003cp\u003eLinking pricing to an index means shippers’ rates face less risk of falling out of the range of prevailing rates and cargo being left behind at origin. But there is less budget certainty which clashes with annual budgeting cycles at beneficial cargo owners (BCOs). And while there are futures contracts traded, such as an active market of day traders on the Shanghai International Energy Exchange (INE China), which launched trading in a Containerized Freight Index Futures Contract in 2023, they haven’t built the liquidity or credibility to be of interest to BCO finance teams who would engage in hedging against adverse movements in ocean rates. And carriers have been outspoken about their declining interest in container freight futures. \u003c/p\u003e\u003cp\u003eIndex-linked contracts have a history of going in and out of fashion; they fell into fashion during the pandemic when shippers were desperate for space but fell out once the extremes of the disruptions were over. Also holding back index-linked contracts are shipper and carrier lawyers needing to come to agree on terms and conditions, frequently a difficult hurdle to overcome. \u003c/p\u003e\u003cp\u003eNow, amid a continuing tight market fueled by Red Sea reroutings and robust 2024 volumes, there is more talk of using index-linked contracts. But just as it was before, that could just be cyclical. \u003c/p\u003e\u003cp\u003e\u003ci\u003eContact Peter Tirschwell at \u003c/i\u003e\u003ca href=\"mailto:peter.tirschwell@spglobal.com\"\u003e\u003ci\u003epeter.tirschwell@spglobal.com\u003c/i\u003e\u003c/a\u003e.\u003c/p\u003e\u003c/div\u003e","Metadata":{"BylineOverwrite":null,"AuthorCompanyOrEventLink":null,"PaywallLocked":true,"FeatureImageCopyright":"The COVID-19 pandemic showed shippers just how quickly and painfully vessel space can dry up in a crisis. Photo credit: GreenOak / Shutterstock.com.","EventDate":null,"__typename":"Metadata"},"ModDate":"1732654040583","Taxonomy":{"MainCategory":[{"Id":"34","Name":"Container lines","Redirects":[{"Path":"/maritime/container-shipping-news/container-lines","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"AdditionalCategories":[{"Id":"17","Name":"Logistics Technology News","Redirects":[{"Path":"/supply-chain/logistics-technology-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"ContentType":"ARTICLE","__typename":"Taxonomy"},"DataDeliveryTaxonomy":{"ConnectAuthorsValues":[{"Value":"Peter Tirschwell","__typename":"ConnectAuthorsValues"}],"__typename":"DataDeliveryTaxonomy"},"PublishDate":"1732649662000","TitlePlainText":"NYSHEX keeps core vision while evolving in volatile container shipping market","Published":true,"Redirects":[{"Path":"/article/nyshex-keeps-core-vision-while-evolving-in-volatile-container-shipping-market-5833589","__typename":"Redirect"}],"AbstractHtml":"\u003cdiv class=\"phx-topic abstract-wrapper\"\u003e\u003cp\u003eNYSHEX is making a renewed effort to solve the fundamental problem of ocean container supply chains, promoting the use of index-linked contracts to build contract integrity and certainty. \u003c/p\u003e\u003c/div\u003e","AbstractPlainText":"NYSHEX is making a renewed effort to solve the fundamental problem of ocean container supply chains, promoting the use of index-linked contracts to build contract integrity and certainty.","__typename":"Document"},{"Id":"5833489_JournalOfCommerce","Attachments":[{"FileName":"5833487_0.1.jpg","FileType":"FeatureImage","Title":"Feature image","__typename":"Attachment"}],"BodyPlainText":"Carriers are warning shippers to expect significant increases in their Emissions Trading System (ETS) surcharges in 2025 as the European Union carbon tax is expanded to cover 70% of all carrier emissions. The rise in ETS surcharges will come on top of the new fuel intensity regulation FuelEU Maritime that from Jan. 1 will force carriers to increase their use of more costly lower-emission fuels. “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.” CMA CGM is expecting an increase of about 75% in its current ETS surcharge amounts and will publish its revised ETS surcharges on Dec. 1. “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.” Maersk 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. “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.” Maersk also noted that the price of European allowances was expected to increase due to supply cuts. ‘Cap-and-trade’ principle Shipping 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. The 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. “This regulation’s costs will roughly increase by 75% from this year to next, depending on the price of emission allowances,” Hapag-Lloyd said. FuelEU 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.” From 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. The 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. “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. Several 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. Contact Greg Knowler at greg.knowler@spglobal.com .","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. ","EventDate":null,"__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"}],"ContentType":"ARTICLE","__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"}],"itemsCount":434133,"nextToken":1,"__typename":"DocumentPaginatedList"}},"canShowArticleBody":false,"license":"CH317979612","assetsUrl":"/_next/static/public","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! Valid for first year of subscription. Offer ends December 1.","Title":"BLACK FRIDAY SALE","PromotionType":"CTA_WIDE","ButtonLink":"https://joc.com/subscription/choose-plan?utm_source=joc\u0026utm_medium=wide_box\u0026utm__campaign=upgrade","ButtonOpenInNewWindow":false,"ButtonText":"Save Now","CardLink":"","Icon":"alert","Published":true,"PublishingStart":"1669629085000","PublishingEnd":"1735642740000","SubscriberLevel":["Silver","Silver_Plus","Gold_Trial"],"CloseDelay":null,"DisplayDelay":null,"DisplayPerSession":null,"Taxonomies":[],"TargetUrls":[],"Position":null,"FeatureImageId":null,"FeatureImage":null,"__typename":"InternalPromotion"},{"Id":"f98788a9-09ef-4d68-a2bd-62407c96f3d4","Name":"Subscribe Now - Anonymous - Wide Box","Description":"Subscribe Now - Anonymous - Wide Box","Body":"Use code BF24W25 at checkout and save 25% on any annual plan! Valid for first year of subscription. Offer ends December 1.","Title":"BLACK FRIDAY SALE","PromotionType":"CTA_WIDE","ButtonLink":"https://joc.com/subscription/choose-plan?utm_source=joc\u0026utm_medium=wide_box\u0026utm__campaign=subscribe_anonymous","ButtonOpenInNewWindow":false,"ButtonText":"Save Now","CardLink":"","Icon":null,"Published":true,"PublishingStart":"1699264835748","PublishingEnd":"1735685999748","SubscriberLevel":["Free"],"CloseDelay":null,"DisplayDelay":null,"DisplayPerSession":null,"Taxonomies":[],"TargetUrls":[],"Position":null,"FeatureImageId":null,"FeatureImage":null,"__typename":"InternalPromotion"},{"Id":"4e4a3d10-a383-45b2-a1a0-cebb55ba9e36","Name":"TPM Discount - Gold","Description":"","Body":"Register today to redeem your Gold subscriber discount!","Title":"Save 20% on TPM25","PromotionType":"CTA_WIDE","ButtonLink":"https://events.joc.com/tpm/index.html","ButtonOpenInNewWindow":true,"ButtonText":"Register Now","CardLink":"","Icon":null,"Published":true,"PublishingStart":"1726838050500","PublishingEnd":"1740805140500","SubscriberLevel":["Gold"],"CloseDelay":null,"DisplayDelay":null,"DisplayPerSession":null,"Taxonomies":[],"TargetUrls":[],"Position":null,"FeatureImageId":null,"FeatureImage":null,"__typename":"InternalPromotion"},{"Id":"4afc17d8-d881-4908-a086-645154a4ea15","Name":"Subscribe Now - Free Trials - Wide Box","Description":"Subscribe Now - Free Trials - Wide Box","Body":"Use code BF24W25 at checkout and save 25% on any annual plan! Valid for first year of subscription. Offer ends December 1.","Title":"BLACK FRIDAY SALE","PromotionType":"CTA_WIDE","ButtonLink":"https://joc.com/subscription/choose-plan?utm_source=joc\u0026utm_medium=wide_box\u0026utm__campaign=subscribe_free_trial","ButtonOpenInNewWindow":false,"ButtonText":"Save Now","CardLink":"","Icon":null,"Published":true,"PublishingStart":"1669633140000","PublishingEnd":"1735642740000","SubscriberLevel":["Silver_Free_Trial"],"CloseDelay":null,"DisplayDelay":null,"DisplayPerSession":null,"Taxonomies":[],"TargetUrls":[],"Position":null,"FeatureImageId":null,"FeatureImage":null,"__typename":"InternalPromotion"}],"offerBoxProms":[{"Id":"76d83ad1-55ce-45c1-b662-5ada260ea17b","Name":"Subscribe Now - Free Trials - Offer Box","Description":"Subscribe Now - Free Trials - Offer Box","Body":"BLACK FRIDAY SALE: Use code BF24W25 at checkout to save 25% on any annual plan!\n","Title":"Subscribe Today","PromotionType":"OFFERBOX","ButtonLink":"https://joc.com/subscription/choose-plan?utm_source=joc\u0026utm_medium=offer_box\u0026utm__campaign=subscribe_free_trial","ButtonOpenInNewWindow":false,"ButtonText":"Save Now","CardLink":"","Icon":null,"Published":true,"PublishingStart":"1669632208841","PublishingEnd":"1735685999841","SubscriberLevel":["Silver_Free_Trial"],"CloseDelay":null,"DisplayDelay":null,"DisplayPerSession":null,"Taxonomies":[],"TargetUrls":[],"Position":null,"FeatureImageId":null,"FeatureImage":null,"__typename":"InternalPromotion"},{"Id":"eda334cb-bf98-4d50-9c50-c6626948c1c0","Name":"Upgrade Subscription - Offer Box","Description":"Upgrade Subscription - Offer Box","Body":"BLACK FRIDAY SALE: Use code BF24W695 at checkout and upgrade to Gold for just $695!","Title":"Upgrade Subscription","PromotionType":"OFFERBOX","ButtonLink":"https://joc.com/subscription/choose-plan?utm_source=joc\u0026utm_medium=offer_box\u0026utm__campaign=upgrade","ButtonOpenInNewWindow":false,"ButtonText":"Save Now","CardLink":"","Icon":null,"Published":true,"PublishingStart":"1672223948951","PublishingEnd":"1735685999951","SubscriberLevel":["Silver","Silver_Plus","Gold_Trial"],"CloseDelay":null,"DisplayDelay":null,"DisplayPerSession":null,"Taxonomies":[],"TargetUrls":[],"Position":null,"FeatureImageId":null,"FeatureImage":null,"__typename":"InternalPromotion"},{"Id":"f3a2b1e1-2dc2-45f6-b084-7114858d9124","Name":"TPM Discount - Gold ","Description":"20% discount to TPM for Gold subscribers","Body":"20% OFF ON TPM25: Register today and redeem your Gold subscriber discount!","Title":"20% OFF ON TPM25","PromotionType":"OFFERBOX","ButtonLink":"https://events.joc.com/tpm/index.html","ButtonOpenInNewWindow":true,"ButtonText":"Register Now","CardLink":"","Icon":null,"Published":true,"PublishingStart":"1726837583122","PublishingEnd":"1740805140122","SubscriberLevel":["Gold"],"CloseDelay":null,"DisplayDelay":null,"DisplayPerSession":null,"Taxonomies":[],"TargetUrls":[],"Position":null,"FeatureImageId":null,"FeatureImage":null,"__typename":"InternalPromotion"},{"Id":"202c6142-401f-4589-8552-3ebb76864e5d","Name":"Subscribe Now - Anonymous - Offer Box","Description":"Subscribe Now - Anonymous - Offer Box","Body":"BLACK FRIDAY SALE: Use code BF24W25 at checkout to save 25% on any annual plan!","Title":"Subscribe Today","PromotionType":"OFFERBOX","ButtonLink":"https://joc.com/subscription/choose-plan?utm_source=joc\u0026utm_medium=offer_box\u0026utm__campaign=subscribe_anonymous","ButtonOpenInNewWindow":false,"ButtonText":"Save Now","CardLink":"","Icon":null,"Published":true,"PublishingStart":"1699267280629","PublishingEnd":"1735685999629","SubscriberLevel":["Free"],"CloseDelay":null,"DisplayDelay":null,"DisplayPerSession":null,"Taxonomies":[],"TargetUrls":[],"Position":null,"FeatureImageId":null,"FeatureImage":null,"__typename":"InternalPromotion"}],"rectangleProms":[{"Id":"3b1d3c2d-6490-42ec-9f8e-e245d2ba697f","Name":"Breakbulk Report - Rectangle Box","Description":"Breakbulk Report - Rectangle Box","Body":"An in-depth analysis of transport trends in the multipurpose and heavy-lift fleet segment","Title":"Breakbulk Quarterly","PromotionType":"CTA_RECTANGLE","ButtonLink":"https://www.joc.com/resources/special-reports/breakbulk-quarterly-intelligence","ButtonOpenInNewWindow":false,"ButtonText":"Learn More","CardLink":"","Icon":"newspaper","Published":true,"PublishingStart":"1698920835493","PublishingEnd":"1735685999493","SubscriberLevel":["Gold_Trial","Gold","Free","Silver_Free_Trial","Silver","Silver_Plus"],"CloseDelay":null,"DisplayDelay":null,"DisplayPerSession":null,"Taxonomies":[],"TargetUrls":[],"Position":null,"FeatureImageId":null,"FeatureImage":null,"__typename":"InternalPromotion"},{"Id":"2c9c0ab3-8d50-44eb-9a98-e31d8af31382","Name":"ISI Report - Rectangle Box","Description":"ISI Report - Rectangle Box","Body":"A premium access index of savings using domestic intermodal vs. OTR ","Title":"Intermodal Savings Index","PromotionType":"CTA_RECTANGLE","ButtonLink":"https://www.joc.com/resources/intermodal-savings-index","ButtonOpenInNewWindow":false,"ButtonText":"Learn More","CardLink":"","Icon":"newspaper","Published":true,"PublishingStart":"1682501020267","PublishingEnd":"1735685999267","SubscriberLevel":["Gold_Trial","Gold","Free","Silver_Free_Trial","Silver","Silver_Plus"],"CloseDelay":null,"DisplayDelay":null,"DisplayPerSession":null,"Taxonomies":[],"TargetUrls":[],"Position":null,"FeatureImageId":null,"FeatureImage":null,"__typename":"InternalPromotion"},{"Id":"88a09ce9-39b1-47d8-808d-f57a2089f173","Name":"Intermodal Service Scorecard - Rectangle Box","Description":"Intermodal Service Scorecard - Rectangle Box","Body":"Customers scoring their intermodal partners to identify the best service providers","Title":"Intermodal Service Scorecard","PromotionType":"CTA_RECTANGLE","ButtonLink":"https://www.joc.com/resources/special-reports/domestic-intermodal-service-scorecard","ButtonOpenInNewWindow":false,"ButtonText":"Learn More","CardLink":"","Icon":"newspaper","Published":true,"PublishingStart":"1698921058134","PublishingEnd":"1735685999134","SubscriberLevel":["Gold_Trial","Gold","Free","Silver_Free_Trial","Silver","Silver_Plus"],"CloseDelay":null,"DisplayDelay":null,"DisplayPerSession":null,"Taxonomies":[],"TargetUrls":[],"Position":null,"FeatureImageId":null,"FeatureImage":null,"__typename":"InternalPromotion"},{"Id":"c11d38c7-436c-461c-bd92-67ab3d1a2d2d","Name":"QI Report - Rectangle Box","Description":"QI Report - Rectangle Box","Body":"A premium access outlook critical to shippers and transportation providers","Title":"Quarterly Intelligence","PromotionType":"CTA_RECTANGLE","ButtonLink":"https://www.joc.com/resources/special-reports/quarterly-intelligence-report","ButtonOpenInNewWindow":false,"ButtonText":"Learn More","CardLink":"","Icon":"newspaper","Published":true,"PublishingStart":"1682500464170","PublishingEnd":"1735685999170","SubscriberLevel":["Gold_Trial","Gold","Free","Silver_Free_Trial","Silver","Silver_Plus"],"CloseDelay":null,"DisplayDelay":null,"DisplayPerSession":null,"Taxonomies":[],"TargetUrls":[],"Position":null,"FeatureImageId":null,"FeatureImage":null,"__typename":"InternalPromotion"},{"Id":"e5d0baf4-9140-4020-a8f2-0a32b1f168bd","Name":"Breakbulk Conference - Rectangle Box","Description":"Breakbulk Conference","Body":"The only editorially independent conference for the breakbulk \u0026 project cargo industry","Title":"Attend Breakbulk25","PromotionType":"CTA_RECTANGLE","ButtonLink":"https://events.joc.com/breakbulk/index.html?utm_source=website\u0026utm_medium=internal_promotion\u0026utm__campaign=Breakbulk25","ButtonOpenInNewWindow":true,"ButtonText":"Learn More","CardLink":"","Icon":null,"Published":true,"PublishingStart":"1729268262567","PublishingEnd":"1742788799567","SubscriberLevel":["Free","Silver_Free_Trial","Silver","Silver_Plus","Gold_Trial","Gold"],"CloseDelay":null,"DisplayDelay":null,"DisplayPerSession":null,"Taxonomies":[],"TargetUrls":[],"Position":null,"FeatureImageId":null,"FeatureImage":null,"__typename":"InternalPromotion"},{"Id":"e067e4f3-e09f-4f2c-a7e4-1b3ba4620a15","Name":"TPM Conference - Rectangle Box","Description":"TPM Conference - Rectangle Box","Body":"The premier conference for the global container shipping and supply chain community","Title":"Attend TPM25","PromotionType":"CTA_RECTANGLE","ButtonLink":"https://events.joc.com/tpm/index.html","ButtonOpenInNewWindow":true,"ButtonText":"Learn More","CardLink":"","Icon":"calendar","Published":true,"PublishingStart":"1722503307948","PublishingEnd":"1740956399948","SubscriberLevel":["Free","Silver_Free_Trial","Silver","Silver_Plus","Gold_Trial","Gold"],"CloseDelay":null,"DisplayDelay":null,"DisplayPerSession":null,"Taxonomies":[],"TargetUrls":[],"Position":null,"FeatureImageId":null,"FeatureImage":null,"__typename":"InternalPromotion"},{"Id":"50bb0b65-1e88-4318-98cb-93934c29fa84","Name":"Gateway - Rectangle Box","Description":"Gateway - Rectangle Box","Body":"An extensive dashboard of charts organized by trade lane, mode, and topic","Title":"Gateway","PromotionType":"CTA_RECTANGLE","ButtonLink":"https://www.joc.com/gateway","ButtonOpenInNewWindow":false,"ButtonText":"Access Now","CardLink":"","Icon":"desktop","Published":true,"PublishingStart":"1685611945066","PublishingEnd":"1735685999066","SubscriberLevel":["Silver","Silver_Plus","Gold_Trial","Gold","Free","Silver_Free_Trial"],"CloseDelay":null,"DisplayDelay":null,"DisplayPerSession":null,"Taxonomies":[],"TargetUrls":[],"Position":null,"FeatureImageId":null,"FeatureImage":null,"__typename":"InternalPromotion"}],"nativeAdvertising":[{"Id":"5994e1c1-333c-462d-a230-0e63dd01a9b8","Title":"Shippers save money, time with automated transportation bidding tools","ContentBody":"\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eThe world of LTL is slow to embrace change. Business anachronisms permeate current supply chain processes. These vestiges of the way things used to work define the LTL freight transportation procurement process of many modern shippers.\u003c/span\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eDavid Knuth, logistics specialist at IEWC, a global supplier of cable and wire based in Wisconsin, is happy to have modernized the RFP process, automating the entire LTL bidding procedure with Bid$ense, SMC³’s automated truckload and LTL freight transportation sourcing solution. But when prompted, he can still recall what once was.\u003c/span\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eIn his previous job, a large part of his duties were consumed by creating an intermodal bid package for carriers. In a spreadsheet, Knuth detailed the company’s volumes lane by lane, taking care to delete any errant keystrokes or misleading data. He would then email out the information to each carrier, taking time to respond to detailed technical questions about the spreadsheet data. Finally, he had to compile all the results, create an algorithm that would compare the carriers on each lane, and award the business.\u003c/span\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003e“It was a huge undertaking. It took about four months to do,” Knuth said of the old process. “It was almost a full-time job for that part of the year, every year.”\u003c/span\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eIn his new job at IEWC, he sat down with Bid$ense on day one and was amazed at the capabilities. Knuth had never before used a bid tool. SMC³’s latest versions of Bid$ense automate the process even further, taking truckload and LTL RFPs entirely online. The tool draws on RFP best-practices protocols to streamline the bidding communication process, enabling bidding carriers to respond accurately and promptly to shipper requests. The solution also does all the distribution work automatically, electronically submitting shipper bid data to carriers based on their actual service capabilities and performance records. Carriers are alerted with timely prompts for RFP deliverables, so shippers aren’t waiting by the phone for responses.\u003c/span\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eAnother benefit of automating the process is the data-cleansing assistance. When Knuth sent spreadsheets to carriers, data errors might cloud the bidding process; he might have to resend data or simply accept a price that did not truly reflect the costs of doing business. Data cleansing is incredibly beneficial, he said.\u003c/span\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eThe spreadsheet technique also made bidding analysis an onerous task. Since Bid$ense automates and streamlines the entire RFP process, intensive examination is now simple. SMC³ knows that each bid has more than one best outcome. With uniform responses from each carrier, shippers can quickly rank results and create an unlimited quantity of what-if scenarios to make the optimal procurement decision.\u003c/span\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eJesse Burnett of Central Garden \u0026amp; Pet experiences many of the same benefits. Founded in 1980, Central Garden \u0026amp; Pet has spent the last three decades growing from a small garden supply company to a provider of a range of products from dog chews and bird seed to soil supplements and natural insecticides. For much of its life, the company shipped these disparate goods via LTL and truckload carriers to retailers throughout the country, relying on each business unit to negotiate directly with their freight transportation providers. This arrangement worked fairly well for a small company, but as Central Garden \u0026amp; Pet expanded, leadership decided to consolidate decision making.\u003c/span\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eBurnett helped centralize the transportation decision making in 2015 with SMC³’s Bid$ense. Before Bid$ense, every business unit operated independently as far as negotiating with carriers.\u003c/span\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003e“There were a lot of different things just floating around,” he said. “We didn’t have master agreements in place; no national pricing at all. The pricing from carriers was just all over the place, depending on where you were.”\u003c/span\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eThe transformations he saw with Bid$ense were immediate. Burnett has been using the tool about every other year since its implementation at the company. Central Garden and Pet’s $19.6 million 2019 LTL bid saved the company just more than 9 percent when compared to its historical average. For Burnett, though, bid automation extends far beyond savings.\u003c/span\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003e“We knew that we weren’t getting the best pricing offer from our carriers just because nothing was centralized,” he continued. “We knew that if we combined everything from all these business units and paired it with one corporate offering, then it would drive some cost benefit with it.”\u003c/span\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eWhen the company initially decided to centralize bid procurement, executives researched a number of different methodologies and technologies. In the end, though, Burnett found that Bid$ense was both widespread and well known, and that his carrier partners already knew how to use the application. Burnett also highlighted the data-cleansing process as a major benefit, saying the rigorous process ensures that carriers always return the best price.\u003c/span\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003e“It definitely has helped drive savings,” he said. “Any time you go out there and you drive that competitiveness with the carriers and they know they’re in a bid environment, it seems to sharpen their pencils.”\u003c/span\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eTransportation procurement is an integral part of the modern supply chain. With Bid$ense, shippers can develop a strategic implementation plan that saves them time and money, but also helps them create strong relationships with their carrier partners. These carriers appreciate the solution’s data-cleansing process; when carriers receive a complete shipment history and future volume forecast, they don’t have to guess on pricing. Carriers that receive more data from shippers get a complete picture of that shipper’s freight, allowing them to accurately plan instead of simply preparing for the worst-case scenario. Clean data presented through an automated system can lead to both bigger shipment savings and a lasting partnership between carrier and customer.\u003c/span\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eWhether customers are looking to streamline over-the-road transportation bidding by automating the RFP process or create an entirely new, centralized sourcing process, Bid$ense has the analytical horsepower to get the job done.\u003c/span\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eSMC³ 2020 Customer Case Study\u003c/span\u003e\u003c/p\u003e","Author":"Sponsored by SMC3","PhotoCutline":"Photo Credits: Shutterstock","FeatureImageId":"5a250a9a-79d5-4e11-99a9-055c34871cc2","FeatureImage":{"Id":"5a250a9a-79d5-4e11-99a9-055c34871cc2","Name":"SMC3rates_shutterstock_5247046.jpg","Path":"/content-assets/1724062812611_SMC3rates_shutterstock_5247046.jpg","__typename":"File"},"Taxonomy":{"Id":"46","Name":"LTL","Redirects":[{"Path":"/surface/trucking-news/ltl","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},"Redirects":[{"Path":"/shippers-save-money-time-with-automated-transportation-bidding-tools-5994e1c1","__typename":"Redirect"}],"EntityMetadata":{"CreatedAt":"1724062819729","__typename":"EntityMetadata"},"__typename":"PartnerContent"},{"Id":"92549aa6-bf87-42f9-a742-cbcd76e3d298","Title":"SSA Marine Mexico Modernizes Facilities with $15 Million Investment ","ContentBody":"\u003cp class=\"joc_admin__paragraph\"\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eSSA Marine Mexico has made significant strides in modernizing its infrastructure at the Port of Manzanillo, investing $15 million to enhance operational efficiency and sustainability at its facilities. This move is part of the company's broader strategy to remain at the forefront of the shipping and logistics industry.\u003c/span\u003e\u003cbr\u003e\u003cbr\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003e•\u003c/span\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003e\t\u003c/span\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eStrengthening Sustainability with Advanced Technology\u003c/span\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cfigure class=\"joc_admin__inline-image-position-left joc_admin__inline-image-size-medium\" data-figure-size=\"medium\" data-figure-position=\"left\"\u003e\u003cspan class=\"joc_admin__inline-image-inherit\"\u003e\u003cimg src=\"/content-assets/1730488295264_Cranes%20arrival%20to%20TEC%20I.png\" alt=\"Cranes arrival to TEC I\" class=\"joc_admin__inline-image-inherit\"\u003e\u003c/span\u003e\u003c/figure\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\"\u003e\u003cbr\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003e \u003c/span\u003e\u003cbr\u003e\u003cbr\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eIn July, SSA Marine Mexico added seven state-of-the-art E-RTG (Electric Rubber-Tired Gantry) cranes to its fleet, valued at $14 million. These advanced cranes were distributed across its two terminals: four cranes were assigned to the Multipurpose Terminal, and three to the Specialized Container Terminal I. \u003c/span\u003e\u003cbr\u003e\u003cbr\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eWhat sets these cranes apart is their dual-operation capability, allowing them to function either on electric power or diesel fuel. This innovation plays a critical role in reducing the environmental impact of operations, contributing to a 7% increase in energy efficiency. This efficiency improvement is equivalent to eliminating nearly 4,000 tons of CO2 emissions annually, underscoring SSA Marine Mexico's commitment to sustainability.\u003c/span\u003e\u003cbr\u003e\u003cbr\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eThrough this acquisition, SSA Marine Mexico not only enhances its cargo-handling capabilities but also reinforces its leadership in integrating cutting-edge, eco-friendly technology in the maritime industry. The company continues to push the boundaries of efficiency and sustainability, ensuring long-term value for both its customers and the environment.\u003c/span\u003e\u003cbr\u003e\u003cbr\u003e\u003cbr\u003e\u003cbr\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003e•\u003c/span\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003e\t\u003c/span\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eUpgraded Facilities to Meet Growing Demand\u003c/span\u003e\u003cbr\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003e \u003c/span\u003e\u003c/p\u003e\u003cfigure class=\"joc_admin__inline-image-position-left joc_admin__inline-image-size-medium\" data-figure-size=\"medium\" data-figure-position=\"left\"\u003e\u003cspan class=\"joc_admin__inline-image-inherit\"\u003e\u003cimg src=\"/content-assets/1730488350634_Multipurpose%20terminal.png\" alt=\"Multipurpose Terminal\" class=\"joc_admin__inline-image-inherit\"\u003e\u003c/span\u003e\u003c/figure\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"joc_admin__paragraph\"\u003e\u003cbr\u003e\u003cbr\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eIn addition to the new cranes, SSA Marine Mexico has completed crucial modernization and repair work across its Multipurpose Terminal and Specialized Facility at the Port of Manzanillo. This $1 million investment targeted critical infrastructure enhancements, focusing on both structural integrity and operational functionality.\u003c/span\u003e\u003cbr\u003e\u003cbr\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eKey improvements included leveling approximately 12,000 square meters in the dock area, along with the removal of outdated concrete curbs and asphalt layers. The upgraded space now features high-resistance pavers designed to optimize water drainage and prevent pooling, ensuring safer and more efficient operations.\u003c/span\u003e\u003cbr\u003e\u003cbr\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eMoreover, the Specialized Facility saw significant upgrades, including the leveling of key warehouse areas to facilitate smoother cargo handling processes.\u003c/span\u003e\u003cbr\u003e\u003cbr\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eThese infrastructure improvements directly enhance the handling of TEUS (Twenty-foot Equivalent Unit containers), further demonstrating SSA Marine Mexico's unwavering commitment to continuous modernization, operational safety, and efficiency.\u003c/span\u003e\u003cbr\u003e\u003cbr\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eWith these initiatives, SSA Marine Mexico is well-positioned to meet the growing demands of the global shipping industry while setting new standards in sustainable port operations.\u003c/span\u003e\u003cbr\u003e\u003cbr\u003e\u003cbr\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eLINK:\u003c/span\u003e\u003ca href=\"https://www.ssamarine.mx/ssa-ing/index\" rel=\"noreferrer\" class=\"joc_admin__link\"\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003e https://www.ssamarine.mx/ssa-ing/index\u003c/span\u003e\u003c/a\u003e\u003cbr\u003e\u003c/p\u003e","Author":"Sponsored by SSA Marine ","PhotoCutline":"Photo by SSA Marine Mexico","FeatureImageId":"e1447250-5fe7-43ba-a297-16b55e1dcd5f","FeatureImage":{"Id":"e1447250-5fe7-43ba-a297-16b55e1dcd5f","Name":"Cranes arrival to TEC I.png","Path":"/content-assets/1730488383359_Cranes arrival to TEC I.png","__typename":"File"},"Taxonomy":{"Id":"1","Name":"Maritime","Redirects":[{"Path":"/maritime","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},"Redirects":[{"Path":"/ssa-marine-mexico-modernizes-facilities-with-15-million-investment-92549aa6","__typename":"Redirect"}],"EntityMetadata":{"CreatedAt":"1730488384752","__typename":"EntityMetadata"},"__typename":"PartnerContent"},{"Id":"c7bc78df-b12e-42e2-964e-ea543f4d66a9","Title":"Filling the Supply Chain Education Gap with LTL Education Courses","ContentBody":"\u003cp class=\"joc_admin__paragraph\" dir=\"ltr\"\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eIf there’s one immutable truth in the world of logistics, it’s this: LTL is an inherently complex form of transportation. Tariffs, rates, DIM weights, transit times — it’s enough to confuse even seasoned logistics professionals. The solution to this knowledge gap has historically been on-the-job training or university supply chain education, but for a variety of reasons there is now a pressing need for third-party, remote LTL training that prepares logistics workers for transportation success.\u003c/span\u003e\u003cbr\u003e\u003cbr\u003e\u003cb\u003e\u003cstrong class=\"joc_admin__textBold\" style=\"white-space: pre-wrap;\"\u003eGlobal Scope Can Overlook Local Intricacies\u003c/strong\u003e\u003c/b\u003e\u003cbr\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eIn the past, professionals looking to move into a supply chain career learned about the basics of supply chain from universities. However, many of these college supply chain programs are now global in scope, focusing on worldwide supply chain management instead of the intricacies of specialized domestic transportation. And even these programs, which used to be widespread, are becoming less common. LTL is not an industry of broad-brush strokes; supply chain professionals really need a pointillistic understanding of the logistics of LTL in order to excel in the industry.\u003c/span\u003e\u003cbr\u003e\u003cbr\u003e\u003cb\u003e\u003cstrong class=\"joc_admin__textBold\" style=\"white-space: pre-wrap;\"\u003eAccelerating Need for Dedicated LTL Education\u003c/strong\u003e\u003c/b\u003e\u003cbr\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eThis lack of specified training put the onus on employers to prepare new hires with the LTL knowledge needed to do their jobs. Dedicated LTL study is a necessity, not a luxury. At the same time, changes in LTL and the broader supply chain world are accelerating. The reliance on e-commerce has ballooned since the start of the pandemic, and last-mile LTL shipments and related e-commerce strains on the supply chain won’t diminish once social distancing abates.\u003c/span\u003e\u003cbr\u003e\u003cbr\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eThat genie isn’t going back into the bottle. So supply chain employers need logistics workers that are fully versed in all aspects of the industry, ready to solve unique shipping and delivery problems based on their extensive supply chain knowledge But why care about LTL? It’s been reported that some shippers in today’s world are no longer concerned with what mode is used to ship their goods.\u003c/span\u003e\u003cbr\u003e\u003cbr\u003e\u003cb\u003e\u003cstrong class=\"joc_admin__textBold\" style=\"white-space: pre-wrap;\"\u003eA Multimodal Approach Ensures On-Time Delivery\u003c/strong\u003e\u003c/b\u003e\u003cbr\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eThis mode agnosticism means supply chain stakeholders have to be well versed in all modes of transportation. As unforeseen weather events and other disruptions, such as protests, become more common, savvy logistics employees will need to be armed with familiarity of all modes, not just the most popular, to ensure that freight is delivered on time, without damage, and in the most financially expedient way possible. Offerings like SMC³’s LTL online education courses cover a wide range of topics from LTL basics and operations to more advanced concepts like pricing analytics and transportation law. The company also has plans to continually refresh content, adding new expert presenters and taking the feedback of students to make the courses even better as time goes on.\u003c/span\u003e\u003cbr\u003e\u003cbr\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eLearn more about\u0026nbsp;\u003c/span\u003e\u003ca href=\"https://logisticstrainingcenter.com/smc3-courses/\" rel=\"noreferrer\" class=\"joc_admin__link\"\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003eSMC³’s LTL Online Education program\u003c/span\u003e\u003c/a\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003e\u0026nbsp;and view the 2021 hybrid schedule, featuring live industry experts,\u0026nbsp;\u003c/span\u003e\u003ca href=\"https://www.smc3.com/onlinelearning2021/\" rel=\"noreferrer\" class=\"joc_admin__link\"\u003e\u003cspan style=\"white-space: pre-wrap;\"\u003ehere.\u003c/span\u003e\u003c/a\u003e\u003c/p\u003e","Author":"Sponsored by SMC³","PhotoCutline":"Photo Credits: Shutterstock","FeatureImageId":"bf8b13fa-df15-4b0e-8d1d-d8ef28bdb121","FeatureImage":{"Id":"bf8b13fa-df15-4b0e-8d1d-d8ef28bdb121","Name":"SMC3rates_shutterstock_5247046 (1).jpg","Path":"/content-assets/1726241504084_SMC3rates_shutterstock_5247046 (1).jpg","__typename":"File"},"Taxonomy":{"Id":"46","Name":"LTL","Redirects":[{"Path":"/surface/trucking-news/ltl","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},"Redirects":[{"Path":"/filling-the-supply-chain-education-gap-with-ltl-education-courses-c7bc78df","__typename":"Redirect"}],"EntityMetadata":{"CreatedAt":"1726241511473","__typename":"EntityMetadata"},"__typename":"PartnerContent"}],"contentType":"PAID","taxonomyTree":[{"Id":"1","Name":"Maritime","Menu":true,"MetaTitle":"Maritime News | Journal of Commerce","MetaDescription":"News and analysis of ocean containerized cargo movement, logistics, supply chains, technology, and end-to-end connectivity. Maritime news and analysis of containerized ocean cargo movement, breakbulk and roll-on and roll-off shipping from origin to destination.","JocCategories":"Maritime","CategoryDescription":null,"ParentId":null,"Redirects":[{"Path":"/maritime","__typename":"Redirect"}],"Children":[{"Id":"8","Name":"Breakbulk News","Menu":true,"MetaTitle":"Breakbulk News shipping | Journal of Commerce","MetaDescription":null,"JocCategories":"Breakbulk News","ParentId":"1","Position":9,"Redirects":[{"Path":"/maritime/breakbulk-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"9","Name":"Container Shipping News","Menu":true,"MetaTitle":"Container Shipping News | Journal of Commerce","MetaDescription":"Container shipping news and analysis of ocean container shipping, logistics, supply chains, technology and end-to-end connectivity.","JocCategories":"Container Shipping News","ParentId":"1","Position":8,"Redirects":[{"Path":"/maritime/container-shipping-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"},{"Id":"10","Name":"Port News","Menu":true,"MetaTitle":"Port News | Journal of Commerce","MetaDescription":"Stay informed on port news worldwide with Journal of Commerce. From decarbonization to labor updates, get insights on global developments.","JocCategories":"Port News","ParentId":"1","Position":10,"Redirects":[{"Path":"/maritime/port-news","__typename":"Redirect"}],"__typename":"TaxonomyDictionary"}],"__typename":"TaxonomyDictionary"}]},"pageType":4,"children":null,"internalProms":[{"Id":"62c5d872-7749-4dbc-92f6-449d1e370130","Name":"Subscription Sale Pop Up","Description":"","Body":"","Title":null,"PromotionType":"POPUP","ButtonLink":"","ButtonOpenInNewWindow":false,"ButtonText":"","CardLink":"https://www.joc.com/subscription/choose-plan","Icon":null,"Published":true,"PublishingStart":"1732562400005","PublishingEnd":"1733115599005","SubscriberLevel":["Free"],"CloseDelay":25,"DisplayDelay":10,"DisplayPerSession":1,"Taxonomies":[{"Id":"5","Name":"Events","__typename":"TaxonomyDictionary"},{"Id":"1","Name":"Maritime","__typename":"TaxonomyDictionary"},{"Id":"2","Name":"Surface","__typename":"TaxonomyDictionary"},{"Id":"3","Name":"Air Cargo","__typename":"TaxonomyDictionary"},{"Id":"21","Name":"Magazine","__typename":"TaxonomyDictionary"},{"Id":"4","Name":"Supply chain","__typename":"TaxonomyDictionary"},{"Id":"8","Name":"Breakbulk News","__typename":"TaxonomyDictionary"},{"Id":"9","Name":"Container Shipping News","__typename":"TaxonomyDictionary"},{"Id":"10","Name":"Port News","__typename":"TaxonomyDictionary"},{"Id":"11","Name":"Trucking News","__typename":"TaxonomyDictionary"},{"Id":"12","Name":"Rail News","__typename":"TaxonomyDictionary"},{"Id":"13","Name":"Air Cargo Forwarder News","__typename":"TaxonomyDictionary"},{"Id":"14","Name":"Air Cargo Carriers News","__typename":"TaxonomyDictionary"},{"Id":"16","Name":"Transport, Trade and Regulation News","__typename":"TaxonomyDictionary"},{"Id":"17","Name":"Logistics Technology News","__typename":"TaxonomyDictionary"},{"Id":"18","Name":"Cool Cargo News","__typename":"TaxonomyDictionary"},{"Id":"19","Name":"Last Mile News","__typename":"TaxonomyDictionary"},{"Id":"20","Name":"Industrial Real Estate News","__typename":"TaxonomyDictionary"},{"Id":"25","Name":"Special Reports","__typename":"TaxonomyDictionary"},{"Id":"29","Name":"Breakbulk carriers","__typename":"TaxonomyDictionary"},{"Id":"30","Name":"Ro/ro cargo","__typename":"TaxonomyDictionary"},{"Id":"31","Name":"Energy projects","__typename":"TaxonomyDictionary"},{"Id":"32","Name":"Heavy-haul transport","__typename":"TaxonomyDictionary"},{"Id":"33","Name":"Project cargo","__typename":"TaxonomyDictionary"},{"Id":"34","Name":"Container lines","__typename":"TaxonomyDictionary"},{"Id":"35","Name":"Trans-Atlantic","__typename":"TaxonomyDictionary"},{"Id":"36","Name":"Forwarding","__typename":"TaxonomyDictionary"},{"Id":"37","Name":"Asia-Europe","__typename":"TaxonomyDictionary"},{"Id":"38","Name":"Trans-Pacific","__typename":"TaxonomyDictionary"},{"Id":"39","Name":"Drayage","__typename":"TaxonomyDictionary"},{"Id":"40","Name":"Port infrastructure","__typename":"TaxonomyDictionary"},{"Id":"41","Name":"Breakbulk ports","__typename":"TaxonomyDictionary"},{"Id":"42","Name":"North American ports","__typename":"TaxonomyDictionary"},{"Id":"43","Name":"Marine terminals","__typename":"TaxonomyDictionary"},{"Id":"44","Name":"International ports","__typename":"TaxonomyDictionary"},{"Id":"45","Name":"Longshore labor","__typename":"TaxonomyDictionary"},{"Id":"46","Name":"LTL","__typename":"TaxonomyDictionary"},{"Id":"47","Name":"Truckload","__typename":"TaxonomyDictionary"},{"Id":"48","Name":"Truck brokers","__typename":"TaxonomyDictionary"},{"Id":"49","Name":"Flatbed","__typename":"TaxonomyDictionary"},{"Id":"50","Name":"Trucking labor","__typename":"TaxonomyDictionary"},{"Id":"51","Name":"North-American rail","__typename":"TaxonomyDictionary"},{"Id":"52","Name":"International rail","__typename":"TaxonomyDictionary"}],"TargetUrls":["/","/news","/subscription/choose-plan"],"Position":1,"FeatureImageId":"c50bd3d1-f784-4aff-a0b5-066478ed1dea","FeatureImage":{"Id":"c50bd3d1-f784-4aff-a0b5-066478ed1dea","Name":"Website_Black Friday_640x340.png","Type":"image/png","Path":"/content-assets/1732562808532_Website_Black Friday_640x340.png","__typename":"File"},"__typename":"InternalPromotion"}],"baseUrl":"joc.com","path":"/article/strike-bullet-dodged-for-now-but-raises-questions-of-market-resilience-analyst-5745208","gtagKey":"G-W0K2N896YP","pageTitle":"Strike bullet dodged for now, but raises questions of market resilience: analyst","structuredData":{"@context":"https://schema.org/","@graph":[{"@type":"WebSite","name":"Journal of Commerce","url":"joc.com"},{"@type":"Organization","name":"Journal of Commerce","legalName":"JOC Group","url":"joc.com","logo":"joc.com/favicon.ico","foundingDate":2003,"address":{"@type":"PostalAddress","streetAddress":"55 Water St., 39th Floor","addressLocality":"New York","addressRegion":"NY","postalCode":"10041","addressCountry":"US"},"sameAs":["https://twitter.com/JOC_Updates","https://www.facebook.com/JOCnewswire","https://www.linkedin.com/showcase/joc-group-inc-/","https://www.youtube.com/user/JOCNews"]},{"@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"item":{"@id":"joc.com","name":"Journal of Commerce"}},{"@type":"ListItem","position":2,"item":{"@id":"joc.com/maritime","name":"Maritime"}}]},{"@type":"NewsArticle","mainEntityOfPage":{"url":"joc.com/article/strike-bullet-dodged-for-now-but-raises-questions-of-market-resilience-analyst-5745208","@type":"WebPage"},"author":{"@type":"Person","name":"JOC Team"},"publisher":{"@type":"Organization","name":"Journal of Commerce","url":"joc.com","logo":{"url":"joc.com/favicon.ico","@type":"ImageObject"}},"url":"joc.com/article/strike-bullet-dodged-for-now-but-raises-questions-of-market-resilience-analyst-5745208","headline":"Strike bullet dodged for now, but raises questions of market resilience: analyst","datePublished":"Oct 8, 2024, 10:35 AM EDT","image":[{"@type":"ImageObject","url":"joc.com/images/phoenix/5745224_0.1.jpg"}],"hasPart":{"cssSelector":"article-contents","@type":"WebPageElement"}}]}},"__N_SSP":true},"page":"/[...slug]","query":{"slug":["article","strike-bullet-dodged-for-now-but-raises-questions-of-market-resilience-analyst-5745208"]},"buildId":"ySTwj_LF9YWGrQLC0ryEK","runtimeConfig":{"NEXT_PUBLIC_AUTH_SHARED_CLIENT_ID":"1240c847-a45a-4fb6-bc06-e4a30a452a1f","NEXT_PUBLIC_AUTH_SHARED_CLIENT_SECRET":"","NEXT_PUBLIC_RECAPTCHA_SITE_KEY":"6LeIxAcTAAAAAJcZVRqyHh71UMIEGNQ_MXjiZKhI"},"isFallback":false,"isExperimentalCompile":false,"gssp":true,"locale":"en","locales":["en"],"defaultLocale":"en","scriptLoader":[]}</script></body></html>