Container shipping spot rates in the trans-Pacific trade started to rise in late June and remain near their highs for 2023. The question is: How much of this rate gain is driven by peak season demand, and how much by shipping lines intentionally constraining capacity?
Shippers may need to look for alternative routes to avoid potential cargo delays as disruption threats compound in the Panama Canal, analysts told Supply Chain Dive this month. “Delays at the Panama Canal are now up to 15 days or more and likely to increase,” Worldwide Logistics CEO Joe Monaghan told Supply Chain Dive in …
Panama Canal delays have shippers mulling freight diversions Read More »
The Port of Los Angeles moved 684,291 Twenty-Foot Equivalent Units (TEUs) in July as cargo volumes declined 27% compared to last year’s record month. “Global trade has eased as warehouse inventories of retailers and manufacturers remain elevated,” said Port of Los Angeles Executive Director Gene Seroka. “American consumers are continuing to spend and are likely …
Port of Los Angeles Cargo Volumes Fall 27% in July Read More »
The Panama Canal expects to maintain restrictions on daily vessel transit and maximum draft for at least 10 more months amid a prolonged drought that has lowered the water level, an official from the waterway said on Thursday. The canal’s authority earlier this year began imposing restrictions, causing a backlog of vessels waiting to pass. The curbs have forced …
Panama Canal to Extend Transit Restrictions for at Least 10 More Months Read More »
The bigger they come, the harder they fall. The shipping boom in the trans-Atlantic market was one of the world’s biggest, and spot rates in this trade have not only plummeted from COVID-era highs, they’ve sunk below pre-pandemic levels.
A little known but powerful public agency created 70 years ago to root out organized crime on the New York Harbor docks officially closed shop last month. The demise of the bi-state Waterfront Commission of New York Harbor comes after a five-year legal battle between Trenton and Albany about which state would control policing of …
The Georgia Ports Authority handled 5.4 million twenty-foot equivalent units in its 2023 fiscal year ending June 30, down 6.7% from fiscal year 2022 but higher than the 5.3 million TEUs moved in 2021 and the 4.5 million TEUs moved in 2019 before the COVID-19 pandemic. Of that total, GPA handled 1.13 million TEUs in …
Georgia Ports’ fiscal year volumes slide nearly 7% Read More »
Federal Reserve Chair Jerome Powell keeps careful track of employment levels, wages, consumer prices and numerous other metrics to see where the US inflation rate may be headed in the next year. He might also want to keep an eye on water levels at Gatun Lake. That’s the lake that feeds the locks in the Panama Canal with the fresh water …
The Port of New York and New Jersey has officially regained its status as the busiest container port in the United States. Despite a traditionally slow period for US ports in February, the Port of New York and New Jersey managed to move 571,177 TEUs (twenty-foot equivalent units) of cargo in February, surpassing West Coast rivals such …
Port of New York and New Jersey Regains Status as Busiest Container Port in US Read More »
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