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,
Global shipping saw a 17.2% increase in TEU-mile demand in 2024 due to vessel diversions around the Cape of Good Hope, according to Xeneta. To counter longer transit times, the global fleet will expand by 4.5% in 2025, though at a slower growth than in 2024. Despite lower consumer demand, the longer routes have kept
Several ports along the U.S. East and Gulf coasts have announced contingency plans in response to a potential dockworker strike starting October 1, 2024. The International Longshoremen’s Association (ILA) has stated it will not extend its current contract with the United States Maritime Alliance (USMX) after it expires on September 30. The Georgia Ports Authority
With over 36 years of trusted experience backed by a legacy of stability and reliability, Shipco serves as a steadfast neutral consolidations partner, explains Kim Ekstroem, Global COO – Air. “The forwarding community needs a stable partner to rely on in the neutral space. Our customers can be fully secure in doing business with us,
Global shipping lines announced major changes ahead of February’s alliance reshuffling. Hapag-Lloyd’s exit from THE Alliance has brought about the formation of the ‘Premier Alliance’, partnering Ocean Network Express (ONE), HMM, and Yang Ming. Leaving its 2M agreement with Maersk, MSC will largely operate standalone services. The carrier plans to run five East-West trades with
Ocean freight rates from Asia-Europe, which saw an early peak season starting in April, are now falling as European import demand decreases. Asia-North Europe rates have dropped by $2,700 per FEU since July, although they remain four times higher than last year. Asia-Mediterranean rates have also fallen steeply. A global freight forwarder noted the pulling
Shippers are advised to secure space and create contingency plans due to anticipated air cargo capacity shortages from key Asian markets during the peak season. According to a Xeneta and Tiaca webinar, dynamic load factors from Asia Pacific to Europe were 86% and 88% to North America in July, which is atypically high for this
The upcoming contract season brings uncertainty for shippers. Maersk and Hapag-Lloyd are leaving their current alliances, 2M and THE Alliance, in February to form the Gemini Cooperation. The shakeup in ocean alliances will likely impact contract negotiations, says James Hookham, director of the Global Shippers Forum. Shippers are undecided over which alliance to utilize for
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
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,
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