The Virginia Port Authority anticipates that the volume strength seen in August will persist through the remainder of 2021. “We are nearing the height of peak season and do not anticipate a let-up before year’s end. Knowing that, we are focusing on remaining agile and fluid in our operations and continuing to invest in new assets that […]
You can buy a brand-new Ferrari starting at $250,000. To rent a 12-year-old container ship for a mere three months, it could cost you a lot more than that: as much as 68 new Ferraris. Euroseas (NASDAQ: ESEA) confirmed this week that it chartered its 2009-built, 4,250-twenty-foot equivalent unit container ship Synergy Oakland for 60-85 days […]
Container volumes didn’t back down in August, with volumes 12% higher at the Port of Charleston than they were a year ago, the South Carolina Ports Authority said Thursday. At the Port of Charleston’s three terminals — the Wando Welch Terminal, the North Charleston Terminal and the Hugh K. Leatherman Terminal — August volumes were 234,688 twenty-foot […]
Issues weighing on the supply chain — labor and chassis shortages and congestion — are contributing toward a downward trend for U.S. intermodal volumes. Weekly U.S. intermodal traffic was down 7.3% year-over-year for the week ending last Saturday, with volume at 266,212 containers and trailers, according to the Association of American Railroads.
France’s CMA CGM, the world’s third-largest ocean carrier, will cease all increases in spot rates worldwide through Feb. 1, effectively immediately. At first blush, the decision sounds like a game changer. But even if other carriers make similar announcements, how much of this is genuine mercy toward customers that will have bottom-line effects related to […]
For the first time in three years, the allowable driver per diem is going up. The Internal Revenue Service said the per diem for transportation workers in the 2021-22 period will be rising to $69 for travel in the continental U.S. and up to $74 for travel outside the continental U.S. Both figures represent an […]
As I have been stressing, we are likely to see capacity constraints continue well into 2022 and 2023. The recent outbreak of the Delta variant of COVID in Asia is shutting down factories and ports. This will only add to the back log of products being shipped to North America. While ocean containers are waiting […]
Congestion at other West Coast ports has caused an increasing number of ships to use the Port of Portland in hopes of being unloaded quicker and being able to return to Asia for more goods during the 2021 peak season. Portland is the leading port on the U.S. West Coast for exports. It is also […]
The Port of New Orleans (Port NOLA) has awarded a $4 million contract to HDR Engineering Inc. as part of the multiyear due diligence and permitting process for the new Louisiana International Terminal container facility. As part of HDR’s three-year program management and control services contract with Port NOLA, the company will provide: terminal operation and […]
Murphy’s law states that if something can go wrong, it will. Murphy never informed us that everything would go wrong all at once. Even the biggest pessimist couldn’t have predicted the scale of the supply chain issues that plague us today, but that doesn’t change the reality. The supply chain didn’t just fracture a pinky […]
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