News
More than 40 ships waiting outside LA and Long Beach setting new record Photo of Sam Chambers Sam ChambersAugust 26, 2021
The number of ships at anchor, waiting for berth space to open up at America’s two largest boxports has hit a new record today with more than 40 ships now forming queues further and further away from the terminals at Los Angeles and Long Beach. The extraordinary...
Clock ticking for Christmas imports as West Coast congestion mounts Dwell times at terminals, warehouses and rail yards now at or near record highs Photo of Greg Miller, Senior Editor Greg Miller, Senior Editor Follow on TwitterTuesday, August 17, 2021
The Port Los Angeles — America’s largest container gateway — looks destined to max out this peak season. In fact, it may be maxing out right now. The port’s throughput numbers for July were announced Tuesday. They were high, but not as high as previously...
Ocean rates stay high as retailers struggle to build stock
Freight rates remain at extremely high levels this week to a backdrop of “maxed out” capacity and demand being sustained at peak levels, according to the latest international freight update published by digital rates specialist Freightos, which incorporates the...
There is little chance of congestion in the supply chain being resolved before the fourth quarter of the year, although some signs of improvement may begin to appear in time for the traditional peak season.
“We still see an enormous surge in demand that is overwhelming the shipping industry,” said Hapag-Lloyd chief executive Rolf Habben Jansen. “This has had a huge impact on spot rates, and there are still operational challenges and capacity bottlenecks. “I don’t think...
How three Chinese companies cornered global container production Drewry’s John Fossey on why China is ‘unbeatable’ at building boxes Greg Miller, Senior Editor Greg Miller,
Never before has the humble ocean shipping container been this important to American business. If you can’t get one, you can’t move your international cargo — and supply has never been tighter. The cost of global trade is now contingent on how many containers...
Container shipping spot rates just spiked yet again Updated with latest rates: Asia-West Coast spot pricing now 3.5 times higher than a year ago Greg Miller, Senior Editor Greg Miller, Senior Editor
The headlines last August and September blared: “Trans-Pacific rates are going crazy.” “Rates are on fire.” “Records shattered.” Oh, what cargo shippers would give to pay the rates they paid eight or nine months ago. Those earlier records were repeatedly shattered. It...
The best quarter ever’ for container shipping giant Maersk Maersk’s Q1 earnings were almost as high as its earnings for all of 2020
As the saying goes: “Never let a good crisis go to waste.” Before COVID struck, AP Moller-Maersk embarked on a transformation to become a global end-to-end logistics provider. The pandemic created an unexpected and unprecedented surge in cargo demand — which...
Matson CEO: Trans-Pacific trade to stay stronger for longer ‘In my nearly 40 years in the business, I have not seen an environment like this’
In 2020, shipping executives predicted the container-shipping capacity squeeze would last until Chinese New Year in February 2021. When that didn’t happen, they said mid-2021. The bar is now moving further out — to the fourth quarter or beyond. After market...
Trans-Pacific deteriorating, brace for shipping ‘tsunami’
The number of container ships stuck at anchor off Los Angeles and Long Beach is down to around 20 per day, from 30 a few months ago. Does this mean the capacity crunch in the trans-Pacific market is finally easing? Absolutely not, warned Nerijus Poskus, vice...
Retail sales pop in March along with freight demand March sees 9.8% sequential jump in sales, Census Bureau reports Todd Maiden Todd Maiden
Retail sales, including food services, increased 9.8% sequentially in March, according to Thursday Census Bureau data. The pop in sales highlights the impacts of widespread vaccinations and federal stimulus payments to consumers. On a year-over-year comparison,...
‘March madness’ at LA port amid ‘once in a lifetime’ surge The goal is to clear all the container ships stuck at anchorage by June Greg Miller, Senior Editor Greg Miller, Senior Editor
The flood of imports into the Port of Los Angeles is relentless. More records were set in March. And volumes are expected to remain at peak levels — with container ships to remain stuck at anchor — until June. “I would describe this as the port version of March...
Lengthy wait for cargo as Ever Given owner declares General Average
By Gavin van Marle 01/04/2021 As the investigation into the grounding of the Ever Given in the Suez Canal begins, the vessel’s Japanese owner, Shoe Kisen, this morning declared General Average. And a customer circular from Evergreen, seen by The Loadstar,...
