Hapag-Lloyd CEO Rolf Habben Jansen has raised concerns about the growing likelihood of a longshore strike that could close ports along the U.S. East and Gulf coasts, noting that the risk has increased since earlier in the year. Shippers have already responded by frontloading cargo in anticipation of possible disruptions. The potential strike revolves around
For air cargo carriers and forwarders, as well as those involved in automotive logistics, there is significant business potential in this specialized segment of the airfreight industry. However, there are also challenges that need to be addressed. Lufthansa Cargo, a part of Germany’s national airline group, transports automotive spare parts and vehicles worldwide. The company’s
Indian freight forwarders dealing with shipments to North America are expressing frustration as carriers increasingly deny gate openings for containers, even with confirmed bookings. This issue has become more prevalent as major shipping lines report fully booked vessels, leading to frequent instances of cargo being left behind. A recent example involves the APL Qingdao at
Ocean carriers on the trans-Atlantic route have announced peak season surcharges (PSSs) set for September 1, 2024, in an effort to reverse the ongoing decline in westbound rate levels, despite a 7% increase in US import volume from North Europe during the first half of the year. This marks the first rate increase attempt since
Container shipping capacity has increased by 1.6 million TEU since the beginning of 2024, marking an 11% year-over-year increase to 29.5 million TEU. According to Niels Rasmussen, chief shipping analyst at BIMCO, this is the fastest growth in 15 years. The 12,000-17,000 TEU ship segment has expanded the most, making up 22% of the container
A potential Canada-wide rail strike has caused some intermodal rail freight to shift to the U.S., according to Canadian National Railway (CN). CN CEO Tracy A. Robinson reported a significant drop in intermodal volume since late May, with a -17% decrease from May 12 to July 14. Overall rail volume dropped -8% in the same
The Port of Long Beach is expanding its rail yard in a $1.5 billion project called “America’s Green Gateway”. The project will triple the port’s rail cargo capacity, connecting it to 30 major rail hubs across the U.S. By improving rail operations and decreasing reliance on cargo trucks, the expansion aims to reduce environmental impacts,
Europe’s two biggest ports, Rotterdam and Antwerp-Bruges, saw increased freight volumes in the first half of 2024. Rotterdam handled 6.8 million TEUs, up 2.2% from last year, while Antwerp-Bruges handled 6.6 million TEUs, a 4.1% increase year-over-year. Rotterdam Port Authority CEO Boudewijn Siemons attributed the port’s growth to higher demand for consumer goods and an
The intra-Asia shipping market is experiencing a vessel shortage with smaller container ships being reassigned to more profitable long-haul routes. Consequently, it has increased freight rates significantly. Data from the Shanghai Containerized Freight Index shows that Shanghai-Southeast Asia rates have increased from $756 per TEU on July 12. According to the Korea Ocean Business Corp’s
Meteorologists say climate patterns associated with La Niña could come about as early as next month. This will affect global shipping and trade patterns into early 2025. Forecasts predict a 70% chance it will start between August and October, with a 79% probability to last into early 2025. La Niña is characterized by the cooling
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