Chinese shipping majors Cosco Group, China Merchants Group and ICBC Financial Leasing Co. have placed orders for 30 giant Valemax vessels worth a combined $2.5 billion. The move will tighten Beijing’s grip on iron-ore shipments from Brazil over the next decade and increase pressure on Western shipowners struggling to find cargo in one of the […]
The largest cargo ship to visit the United States, the CMA CGM Benjamin Franklin, arrived in Seattle on Feb. 29 morning to greetings from Mayor Ed Murray and other dignitaries, and a flurry of media coverage.
The six 18,000 TEU vessels named after the Great Explorers will be deployed on the trans-Pacific market, the most dynamic one, to accelerate its growth
The CMA CGM Benjamin Franklin on Friday was christened in Long Beach, and with the largest container ship to call in the U.S., with a capacity of 18,000 20-foot container units, the carrier was sending a message to ports on both coasts. “These are the vessels the U.S. will have to handle on a regular […]
Washington state suffered an economic impact of $769.5 million due to labor disruptions at West Coast ports this past year, according to one of the most detailed analyses of the impact of a labor disruption on U.S. business and industry. (This article requires registration at the Journal of Commerce. To access, please click on the […]
Global container port traffic grew by just 1.1 percent in 2015, the second-lowest annual increase ever recorded. The snail’s pace growth last year was only surpassed by the record low in 2009 when container volume declined by 8.4 percent in the wake of the global financial crisis, industry analyst Alphaliner said. North America bucked the […]
Spot freight rates on the Asia-U.S. trades held their ground this week, actually rising slightly and ensuring most of the sharp gains made in the Jan. 1 rate increase were retained for the rest of the month. The Shanghai-U.S. East Coast spot rate rose 2 percent to $2,466 per 40-foot container, while on the trans-Pacific […]
Following up on last fall’s successful campaign to include a port performance statistics program in the federal long-term surface transportation bill, the National Retail Federation is leading a coalition of more than 100 groups in sending specific recommendations to the Department of Transportation.
Amazon.com Inc’s China arm has registered as an ocean freight forwarder, according to the U.S. Federal Maritime Commission, a move that will give it more control over shipping products from Chinese factories to U.S. shoppers. The registration is the latest indication that Amazon plans to expand its logistics reach to cut costs for its retail […]
The value of U.S.-NAFTA freight totaled $93.0 billion in July 2015 as all modes except air carried less freight than in July 2014, according to the TransBorder Freight Data released today by the U.S. Department of Transportation’s Bureau of Transportation Statistics (BTS
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