July and August should be two of the busiest months ever seen for imports at US major retail container ports, possibly setting a new record, the latest Global Port Tracker report released by the US National Retail Federation and Hackett Associates says.
E-commerce continues to fuel a boom that’s tempered by overcapacity, rate pressures, sluggish demand and political doubt. The result: “cognitive dissonance” that finds a $1.4 trillion market scratching its head.
The fee that terminals at the ports of Los Angeles and Long Beach charge for moving cargo during daytime hours Monday through Friday is about to go up. On Aug. 1, the Traffic Mitigation Fee (TMF) at the adjoining Southern California ports is increasing by 2.3 percent, according to the West Coast MTO Agreement, which […]
Airfreight rates on major routes out of Asia continued to climb in June as demand to and from the region surges. The latest statistics from Tac Index show that average airfreight prices from Hong Kong to the US reached $3.27 per kg in June, an increase of 38.6% compared with the same month last year. […]
Despite data by Asian carriers of a solid 12.2 percent increase in volumes and a 4.7 percentage-point increase in freight load factors (FLF) for the month of May, Drewry’s East-West Airfreight Price Index dropped by 3.1 percent, month-over-month, in May on Asia-to-North America routes.
Container shipping is fast becoming a carriers’ market and with the extra pricing power gained by industry consolidation and the better supply-demand fundamentals, there is little likelihood of carriers returning to the profitability-destroying rate wars of early 2016
The Long Beach Board of Harbor Commissioners has approved a US$748 million budget for the Port of Long Beach in the next fiscal year, with more than 60 percent set aside to continue its modernization program.
Delta Air Lines Cargo and Grupo Aeromexico Cargo are teaming up on the cross-border US-Mexico trade under a flight and trucking partnership. After the two overall airlines announced a US-Mexico partnership deal last month, the carriers will expand the partnership to their cargo divisions to create “a bigger, better cargo operation” between the US and […]
A spiraling diplomatic crisis in the Arab Gulf region is already snarling overland logistics along the Qatar-Saudi Arabia border, and regional freight forwarding is running into complications as Emirates and Etihad operations terminating in Doha grind to a halt. Saudi Arabia, the United Arab Emirates, Bahrain, Egypt, Yemen and Libya all announced that they were […]
South Korean shipping company Hyundai Merchant Marine (HMM) has seen a 67% year-on-year rise in its Asia-US volume in April 2017. The company’s volumes jumped from 10,733 TEU/WK to 17,932 TEU/WK in April after HMM formed a strategic cooperation with 2M.
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