Cargo congestion at the Port of Savannah is so severe that officials plan to use a small airport in Georgia as a temporary overflow yard, one of several locations being rushed into emergency service to relieve port infrastructure buckling under the strain of record volumes. The Georgia Ports Authority on Friday said it is setting […]
Maritime bookings represented by the Inbound Ocean TEUs Volume Index (IOTI) show a 40% increase over the past two weeks, the strongest spike in activity since early spring. This movement breaks the slow downward trend that had been in place since late April and could mean this cycle of tightened transportation capacity may have yet […]
From anchorage stats to forward arrivals, ocean bookings, and inventory-to-sales numbers, all the latest data paints the same picture: The U.S. congestion crisis has never been more severe than it is now — and it’s getting worse. Hope for any relief this year has vanished. French carrier CMA CGM is the latest in a long […]
The Inbound Ocean TEU Volume Index (IOTI), which measures maritime bookings for twenty-foot equivalent units for U.S. imports, is set to hit an all-time high this week. The IOTI starts in January 2019 but covers one of the most active periods in maritime shipping thanks to the pandemic. With imports being tied more closely than […]
Container-shipping spot rates keep bouncing around at stratospheric heights — and show zero signs of sliding back to earth. On some trade lanes, they’re still ascending. Case in point: The formerly sleepy Europe-U.S. trans-Atlantic route just spiked. With fallout from the Ever Given accident in the Suez Canal expected to cut container and vessel availability, […]
Robust demand for shipping goods across the world’s oceans shows no signs of slowing down, the chief executive of Germany’s largest container carrier said, signaling that elevated rates in the tight market for seaborne cargo may extend into the second half of the year.
Ship congestion around the ports of Los Angeles and Long Beach hit an unprecedented level, worsening the bottleneck at the busiest gateway for U.S. imports. A record 38 containerships are awaiting berth space — 36 at anchor and two that were directed to wait in designated areas at sea until anchorages are available, the Marine […]
In the movie “Falling Down,” the character played by Michael Douglas is stranded in a Los Angeles traffic jam. He abandons his car, starts walking with briefcase in hand and ultimately has a mental breakdown. Cargo shippers trying to get their containers through the ports of Los Angeles and Long Beach can relate. The pileup […]
The air cargo market ended 2020 on a high note, picking up steam again in December and setting the stage for a potential full recovery to pre-pandemic levels in the first quarter of 2021 with little sign there will be a normal seasonal falloff, according to the latest industry data. Global airfreight volumes rose 2.5% […]
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 […]
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