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10/21/2014
Port of Los Angeles Executive Director Gene Seroka assured footwear importers meeting in Long Beach Tuesday that the Southern California ports have proposals that could provide some immediate relief to the worsening congestion problem in the harbor. Implementing these measures is difficult, though, because each industry sector continues to take a...
10/21/2014
The Ocean Three Alliance of CMA CGM, China Shipping and United Arab Shipping Co. has received U.S. regulatory clearance without the standard 45-day review by the Federal Maritime Commission, but Commissioner Richard Lidinsky isn’t happy about it. Lidinsky criticized the commission staff’s handling of the Ocean Three application. He said he...
10/21/2014
Supply chains are complex with an evolving landscape of stakeholders and practices. Container lines are important participants that affect supply chains with their operational changes. Today, fewer carriers are in business because of mergers. Alliances, slot exchanges, and vessel sharing among carriers have been created and changed. Shipping routes are...
10/20/2014
Members of the Transpacific Stabilization Agreement have filed for their 10th general rate increase this year in a continuing effort by carriers to shore up spot rates from Asia to North America. TSA members will seek an increase of $600 per 40-foot container, effective Nov. 15. The carriers have filed for...
10/20/2014
The slump in crude oil prices over the past three months has sharply reduced ocean carriers’ unit costs as they face declining cargo volumes in the seasonally slack fourth quarter. Brent crude, the international benchmark, is trading at around $86 a barrel today, down 25 percent from a peak of $115...
10/18/2014
An environmental accident was averted yesterday after a Canadian tugboat rescued a stranded Russian container vessel hauling hundreds of tons of fuel, according to the Canadian Press. The vessel lost power later Thursday night near Haida Gwaii while heading to Russia from Everett, Washington state, according to the Associated Press. Authorities...
10/17/2014
Full-size chartTrans-Pacific carriers received a small boost from a planned Oct. 15 rate increase this week, the Shanghai Containerized Freight Index shows. The SCFI showed rates from Asia to the U.S. West Coast up 13.1 percent, or $248 per 40-foot container, this week to $2,139. It was the first gain on...
10/17/2014
The Far East-U.S. East Coast container trade is shaping up as the potential “battlefield” of the future as an enlarged Panama Canal allows carriers to cascade larger ships from the Far East-Europe trade, according to Bimco. Spot freight rates on the route hit an all-time high of $4,636 at the beginning...
10/16/2014
SHENZHEN, China — The shift of freight from air to ocean is just a blip for container lines but has hit the air cargo industry hard, with few signs of relenting, a maritime consultant said Thursday. The air cargo industry lost 5.4 million metric tons of cargo to container lines between...
10/15/2014
Full-size chartDrewry’s benchmark spot rate from Hong Kong to Los Angeles rose as a result of a mid-October trans-Pacific general rate increase this week, though analysts with Drewry Maritime Research believe the eastbound spot rate will remain stable in the coming weeks. The spot rate from Hong Kong to Los Angeles...



 
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