MSC’s CEO, Soren Toft, expects global supply chains to become more fragmented, leading shippers to favor direct port calls over speed. Speaking at the International Association of Ports and Harbors (IAPH) World Port Conference, Toft said, “Supply chains are no longer centered around just a few countries, and no longer rely on one or two
U.S. East and Gulf Coast ports reopened Friday, October 4, after a three-day work stoppage. The International Longshoremen’s Association (ILA) and the United States Maritime Alliance (USMX) agreed to extend the master contract until January 15, 2025, and will continue negotiating other unresolved matters. Port leaders said minimal disruptions are expected as they work through
According to the International Air Transport Association (IATA), global air cargo demand rose by 11.4% year-over-year (y/y) in August. Cargo capacity grew by 6.2% y/y, driven by a 10.9% rise in international belly capacity. Despite record capacity levels and lower fuel costs, yields rose by 11.7% y/y and is 46% above pre-pandemic levels. Willie Walsh,
The IMO’s recent Meeting of the Environmental Protection Committee (MEPC 82) ended without a clear decision on the Carbon Intensity Index (CII), although there is growing support for a flat fee per tonne of CO2 emitted. Delegates said the current rules unfairly penalize waiting times in ports, a crucial factor to consider for shortsea and
Experts at the Journal of Commerce’s Inland Distribution Conference 2024 (Inland24) shared that the U.S. economy is expected to decelerate in 2025, with surface freight markets remaining soft. Paul Bingham, director of global intelligence and analytics for S&P Global Market Intelligence, said that strong consumer spending would not continue if unemployment and consumer debt continue
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