Month: July 2024

Shippers worried about not being able to secure capacity for the upcoming peak season are rushing to book space and equipment on the Trans-Pacific container market. Container spot rates from Asia to the U.S. West and East coasts have steadily increased since April. Year-over-year, U.S. imports from Asia are up 18.2% through May 2024, according

With freight costs rising due to supply chain volatility, managing freight spend is a key concern for shippers and forwarders, according to a Xeneta poll. In the company’s mid-year update, CEO Patrik Berglund described the volatility in 2024, pointing out an initial spike in spot rates on key Far East trades at the beginning of

Water levels at the Panama Canal are close to normal, allowing more large ships to pass through and carry more cargo. Starting in August, the Panama Canal Authority (ACP) will let nine neo-Panamax ships and nineteen super-Panamax ships transit daily. The canal will be handling 35 ships per day, up from 24 in May. The

According to the United Nations Conference on Trade and Development’s (UNCTAD) July trade update, global trade rose in Q1 2024 with goods up by 1% and services by 1.5%. This increase could add $200 billion to the goods trade and $100 billion to the services trade. The world economy is expected to grow 3% in

WorldACD data reveals a 13% increase in general cargo volumes compared to special products like perishables, dangerous goods, high tech, and pharma, which grew 10% from January to May this year. Strong growth in cross-border e-commerce traffic which often flies in bulk as general cargo, and freight conversions from ocean freight to air cargo and

Cosco is warning customers of port congestion in Germany, Netherlands, and Belgium. The container carrier has introduced a fee per container, which will apply to sailings to and from Hamburg, Bremerhaven, Wilhelmshaven, Rotterdam, and Antwerp. “The current handling situation in the ports and the availability of infrastructure are leading to considerable restrictions,” Cosco said, adding

May. Imports were up 5.6% from last year, though this increase was smaller than in the previous three months. In May, 1.93 million TEUs were handled, 1% more than in April and the highest volume of U.S. imports in 21 months. However, this was -15.5% below May 2021. McCown pointed out that May is usually

A group of U.S. manufacturers, distributors, retailers, and trade organizations is urging the Biden administration to help resume stalled contract negotiations between the International Longshoremen’s Association (ILA) and maritime employers. The current six-year contract between the union representing 45,000 dockworkers on the U.S. East and Gulf coasts and the United States Maritime Alliance (USMX) expires