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
According to the “State of Logistics” report by the Council of Supply Chain Management Professionals (CSCMP), U.S. logistics costs dropped 11% in 2023 to $2.4 trillion. Despite the reduction, U.S. business spending on logistics is still high, following a 22.4% increase in 2021 and a nearly 20% rise in 2022. Many logistics companies recognize supply
Maritime consultancy Drewry reported that carriers have added 1 million TEUs of new containership capacity to trades originating out of Asia in the first four months of 2024. However, congestion at ports in Asia and U.S. Businesses Spend $2.4 Trillion on Logistics ATA Reports 3.6% Rise in Truck Tonnage for May Small Forwarders Focus on
Political tensions between the U.S. and China are contributing to lower container shipments between the world’s two largest economies, on top of an already-underway reshaping of global trade, according to a major shipping industry boss. “We are seeing a de-leveraging of trade between the U.S. and China,” Jeremy Nixon, chief executive officer of Ocean Network
ARE YOU READY FOR ICS2?DON’T WORRY, WE GOT YOU! As of today March 1st, phase two of the Import Control System 2 (ICS2) goes into effect. As such, all air shipments to, or via, the European Union + Norway and Switzerland must be cleared for departure ahead of loading onto the aircraft. This will allow
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