Container shipping

Port of Los Angeles sees busiest month outside pandemic

The Port of Los Angeles handled 960,597 twenty-foot equivalent units in August, a 16% increase over the previous year and the busiest month ever outside the pandemic.

Eight months into 2024, the leading U.S. container gateway is 17% ahead of its 2023 pace, already moving nearly 1 million more containers than a year ago.

“The American consumer continues to spend and that’s helping to power our economy,” Port of Los Angeles Executive Director Gene Seroka said at a media briefing. “Some of the cargo...

https://www.freightwaves.com/news/port-of-los-angeles-sees-busiest-month-outside-pandemic

Seko Logistics gets capital infusion

Global freight forwarder Seko Logistics said Thursday it has entered a recapitalization agreement with its financial partners to cure its balance sheet.

Financial terms of the transaction were not disclosed, but the deal is a “landmark transaction” that will stabilize the company and allow it to focus on its “long-term growth trajectory,” a news release said.

“The ongoing freight recession has impacted the entire market, and by proactively addressing our balance sheet, we will be at the forefront...

https://www.freightwaves.com/news/seko-logistics-gets-capital-infusion

Maersk: Q4 container demand to remain strong

The world’s second-largest ocean freight carrier expects global demand for container shipping to remain strong into the fourth quarter on robust imports to North America and Latin America, as well as ongoing strong exports from the Far East. 

Maersk in a quarterly review and outlook on Wednesday projected a more balanced supply and demand across the global shipping market despite disruptions in the Red Sea and from a potential U.S. East Coast port strike.

“There will still be trade-specific and...

https://www.freightwaves.com/news/maersk-q4-container-demand-to-remain-strong

DOJ seeking over $100M from owner, operator of ship that struck Key Bridge

The U.S. Department of Justice is seeking over $100 million from the owner and operator of the Dali, the container ship that struck the Francis Scott Key Bridge, causing it to collapse.

The Justice Department filed a claim in the U.S. District Court for the District of Maryland on Wednesday against Singaporean companies Grace Ocean Private Ltd. and Synergy Marine Private Ltd. The suit hopes to recoup costs incurred in reopening access to the Port of Baltimore.

Container ship Dali, bound for Sri...

https://www.freightwaves.com/news/doj-seeking-over-100m-from-owner-operator-of-ship-that-struck-key-bridge

Indiana port adds rail capacity, eyes container traffic

The Ports of Indiana-Burns Harbor has dedicated $25 million to infrastructure upgrades, including two new railyards and the port’s first all-new dock in two decades.

“Today marks a historic day for this region, our workers and this port,” Ports of Indiana Chief Executive Jody Peacock said in a statement Tuesday. “This is the first new dock Ports of Indiana has opened in 20 years and it signifies our commitment to support economic growth for our state. This new dock will provide critical global...

https://www.freightwaves.com/news/indiana-port-adds-rail-capacity-eyes-container-traffic

Report: Biden won’t block dock strike

President Joe Biden won’t intervene to prevent a strike at East and Gulf Coast ports by union longshore workers, according to a published report.

The federal Taft-Hartley Act grants presidents powers to intervene in labor disputes that threaten national security or safety by imposing an 80-day cooling-off period, and forcing employees back to work while negotiations continue.

“We’ve never invoked Taft-Hartley to break a strike and are not considering doing so now,” a Biden administration official...

https://www.freightwaves.com/news/report-biden-wont-block-dock-strike

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