The Eastbound Trans-Pacific trade is seeing unusually strong demand for Asian imports in November when peak season typically slows. Steady retail sales, concerns over higher tariffs, and the mid-January expiration of the labor agreement at U.S. East and Gulf Coast ports have reduced blank sailings to about 5.4% on the West Coast and 8.1% on
Asia-Europe spot freight rates temporarily rose after 15 weeks of decline as carriers implemented general rate increases (GRIs) on ex-Asia shipments. Drewry’s World Container Index (WCI) showed an 8% rate jump on Shanghai-Rotterdam routes and an 11% rise on Shanghai-Genoa routes. Despite this uptick, industry experts are seeing the increases as temporary. Market feedback suggests
Canadian ports face potential disruptions as labor tensions rise on the East and West coasts. Port employer B.C. Maritime Employers Association (BCMEA) in British Columbia received a 72-hour strike notice from the International Longshore and Warehouse Union (ILWU) Local 514, representing approximately 700 foremen. In response, the BCMEA has issued a lockout notice that will
The U.S. government is awarding US$3 billion in investments to strengthen the country’s port infrastructure, boost jobs, and reduce pollution at 55 ports across 27 states and territories. The US$3 billion investment will fund “… battery-electric and hydrogen-powered human-operated and human-maintained equipment, including over 1,500 units of cargo handling equipment, 1,000 drayage trucks, 10 locomotives,
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