Trans-Pacific westbound spot rate plunge set to deepen

Spot rates in the westbound Pacific took a sizable drop this month due to declining US exports to Asia, which are resulting in especially low vessel utilization rates. The normal strong rebound which should begin in November could be muted as a result. Source: http://www.joc.com

August 22, 2019
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Charleston, Savannah dredging projects advance

The Wando Welch Terminal. The Army Corps of Engineers awarded a contract for the final phase to deepen the inner harbor to the Wando terminal to 52 feet. Photo credit: Ari Ashe/JOC.com. Projects to deepen the inner harbors of the ports of Charleston and Savannah are moving forward after the US Army Corps of Engineers awarded two contracts this week for dredging work meant to ease vessel berthing delays due…

August 21, 2019
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New extra-loaders put downward pressure on trans-Pacific rates

Carriers continue to send mixed messages as they respond to the uncertainties over four rounds of tariffs on imports from China by the Trump administration this past year. Photo credit: Shutterstock.com. New extra-loaders on the trans-Pacific will test the potential for a rebound for eastbound spot rates.  Cosco Shipping and OOCL on Aug. 5 launched a 10-week peak-season (August 5-October 6) service linking southern China with Long Beach, according to…

August 21, 2019
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Zim swings to profit on higher rates, 2M pact

The volume of cargo handled by Zim in the second quarter of 2019 was lower than in the quarter a year ago, but its freight rates increased 9.5 percent. Photo credit: Shutterstock.com Zim Integrated Shipping Services swung to a $5.1 million profit in the second quarter, citing a deepening relationship with the 2M Alliance and a near-double-digit increase in average freight rates.  The vessel-sharing agreement with the 2M Alliance, which…

August 21, 2019
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Maersk integrator strategy takes US shape

Maersk said it has already doubled volumes on its destination cargo management solution, offering large and medium US retailers tracking of their shipments on the water, forecasting of discharge dates, and handling of pick-up orders to truckers in advance of the vessel arrival. Photo credit: Maersk. Maersk’s second-quarter earnings reveal a company delivering stronger-than-expected profits and not chasing market share, but also how far the world’s largest container line still…

August 21, 2019
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Rolling in the deep

Private helicopter landing on Mafi trailers at WW Solutions’ Terminal in Brunswick, GA. Credit: Wallenius Wilhelmsen Ocean Roll-on, roll-off cargo imports are — pardon the pun — on a roll. Volumes through the top US ports handling this cargo saw a decided bounce in the first five months of this year, according to an analysis of data from PIERS, a sister product of The Journal of Commerce within IHS Markit….

August 21, 2019
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Ulrichs named CEO of BBC Chartering

Three cranes, a 550 metric ton (mt) ship-to-shore crane, a 320 mt gantry crane, and a 125 mt ship loader, are loaded aboard the BBC Amber at Yangzhong, China for transport to Indonesia. Credit: BBC Chartering Ulrich Ulrichs has been named CEO of Leer, Germany-based BBC Chartering, taking over from long-time leader Svend Andersen, the multipurpose/heavylift operator said Tuesday.  Ulrichs was named CCO of BBC Chartering last May, with the…

August 21, 2019
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Container growth ups Mexico customs reform pressure

  Shippers and other stakeholders say cargo could be moved into Mexico through the sea and land ports if the customs system were streamlined through a variety of measures. Photo credit: Shutterstock.com. Mexico’s customs system, sagging under the strain of near double-digit cargo growth at the country’s ports, is in need of serious reform to rid the process of numerous inefficiencies, frustrated stakeholders say.  Greater efficiency in single-window technology and…

August 20, 2019
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US truck index signals rebounding demand

A Werner Enterprises truck on Interstate 40 in Arizona. Some data shows the trucking industry is contracting while others have a stronger view of business conditions. Photo credit: Wikicommons. Despite gloomy indicators from some quarters, a closely watched index shows trucking industry conditions might not be all that bad. The American Trucking Association’s (ATA’s) Truck Tonnage Index rose 7.3 percent year over year in July to 122.7 on a seasonally…

August 20, 2019
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Logistics software vet launches process automation venture

The idea of equipping logistics service providers with machine learning tools to make their processes more efficient and their operations leaner is gaining momentum. Photo credit: Shutterstock.com. The founder of widely used freight rate management software provider Catapult International has started a new venture that aims to equip logistics companies with the ability to automate time-consuming tasks through robotic process automation, or RPA. Matt Motsick, who sold his stake in…

August 20, 2019
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