The ransomware attack on Forward Air’s (NASDAQ: FRWD) operational and information technology systems more than a week ago has caused shipping delays for customers, especially those that use them to move loads to, from and between airports. Cargo is moving, but the information flow is hampered without the automated interfaces companies rely on, logistics professionals say. Freight forwarders […]
As 2020 draws to a close, the world’s container-shipping network is bursting at the seams. The Shanghai Containerized Freight Index jumped again last week, to another all-time high. There’s market chatter of all-in Asia-West Coast rates (including premiums) of over $8,000 per forty-foot equivalent unit (FEU) and Asia-East Coast rates of $10,000 per FEU. The […]
The leadership of the Federal Maritime Commission says it is becoming worried that ocean carriers may be assessing unfair detention and demurrage charges at the Ports of Los Angeles and Long Beach, Calif., as well as the Port Authority of New York and New Jersey. In the past several months, those ports and several others […]
The world’s largest operational cargo plane, nicknamed Mriya, or “Dream” in Ukrainian, is returning from a short hibernation to help address a global shortage of heavy-lift air transport.
Now that the ONE Apus has berthed in Japan, investigators can begin to sort through what could be thousands of damaged containers on the ship’s deck. This is in addition to the 1,816 containers reported lost at sea.
“The ships are 100% full. The containers are 100% full. You can’t get a container built. You can’t pick up a ship from the spot market. The whole container-shipping cycle is at absolutely full pelt,” exclaimed Jeremy Nixon, CEO of Ocean Network Express (ONE), the world’s sixth-largest container line. October’s ocean container market is “unbelievable,” […]
The third-ranking Democrat in the House of Representatives is asking four cargo airlines to return more than $630 million they received in emergency funding to keep workers from losing their jobs during the coronavirus pandemic, saying they aren’t entitled to the money because cargo business is roaring. South Carolina Rep. James Clyburn, the majority whip […]
The limited passenger service worldwide is keeping a lid on airfreight volumes, which should be growing faster based on strong global manufacturing activity and retail sales as the world adjusts to the coronavirus. The International Air Transport Association reported this week that air cargo demand in August improved nearly two points from July, but was […]
No one predicted a U.S. import surge in the middle of a pandemic — but it’s happening. The big question now is: How long can this last? The answer has key implications for ocean spot freight rates and contract renewals, port throughput, and landside volumes for trucking and rail. Investment bank Jefferies issued an exceptionally […]
Beta made landfall along the central Texas coast overnight. As of early Tuesday, it was centered just east of Victoria, Texas, producing sustained winds of 40 mph. Monday afternoon, the U.S. Coast Guard placed the Port of Corpus Christi under port condition Zulu. This means inbound and outbound traffic has been suspended. The ports of […]
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