The Port of Los Angeles, the busiest in the United States, is reporting its third busiest month on record in May with a busy summer and early peak shipping season…
https://gcaptain.com/port-of-los-angeles-reports-third-busiest-month-ever-in-may/
Container shipping
President Biden Signs The Ocean Shipping Reform Act Into Law
President Joe Biden has signed into law the S. 3580, the “Ocean Shipping Reform Act of 2022,” marking the first major change to federal regulations for international container shipping in…
https://gcaptain.com/president-biden-signs-the-ocean-shipping-reform-act-into-law/
World Shipping Council Responds to Ocean Shipping Reform Act Enactment:
U.S. President Joe Biden has signed into law the Ocean Shipping Reform Act of 2022, the first major change to federal regulations related to the international container shipping industry in…
https://gcaptain.com/world-shipping-council-responds-to-ocean-shipping-reform-act-enactment/
FBX Report: June 16, 2022
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To learn more about FreightWaves SONAR, click here.
Carriers Battle to Ease Congestion at Northern European Ports
By Mike Wackett (The Loadstar) – Maersk is looking to overland Asian containers at less-congested North European ports and evacuate long-stay imports to off-dock storage facilities in a bid to mitigate…
https://gcaptain.com/carriers-battle-to-ease-congestion-at-northern-european-ports/
SONAR Sightings for June 15: Ontario, California, to Dallas, Japan to US, more
The highlights from Tuesday’s SONAR reports are below. For more information on SONAR — the fastest freight-forecasting platform in the industry — or to request a demo, click here. Also, be sure to check out the latest SONAR update, TRAC — the freshest spot rate data in the industry.
NTI as a point of referenceNational Truckload Index is a daily look at how spot rates in specific lanes hold up in comparison to the national average, giving carriers and brokers an idea of which lanes to gravitate...
Los Angeles port: Peak season coming soon, strong imports ahead
Despite surging inflation and waning consumer confidence, Port of Los Angeles Executive Director Gene Seroka sees America’s import boom persisting in the months ahead.
“While we’re cost-minded and we feel it at the pump and at the grocery store, we’re going to continue to buy,” he predicted at a press conference Tuesday, pointing to Americans’ $1 trillion in accumulated savings and $1.2 trillion in revolving credit.
Americans aren’t buying the same kind of goods they were at the height of the...
https://www.freightwaves.com/news/los-angeles-port-peak-season-coming-soon-strong-imports-ahead
West Coast Ports Strike Unlikely Even If No Labor Deal By July Deadline
By Augusta Saraiva (Bloomberg) — Employers and the union representing more than 22,000 dockworkers at 30 US ports on the West Coast are unlikely to reach a wage deal by the…
https://gcaptain.com/west-coast-ports-strike-unlikely-even-if-no-labor-deal-by-july-deadline/
Batten down the hatches: Shipping stocks ‘unable to escape the torrent’
Bulk commodity shipping stocks kept rising in May even as the broader market fell, offering shelter from the storm. Not so in June. With few exceptions, dry bulk and tanker stocks that previously held up are sinking. Declines for container shipping stocks have accelerated.
Shipping stocks have been “unable to escape the torrent,” wrote Clarksons Platou Securities analyst Frode Morkedal. “Demand destruction is a major source of concern.”
Ben Nolan, shipping analyst at Stifel, said, “The equities...
Fitch: Port Congestion Will Prevent Container Shipping’s Return to Normal in 2022
Fitch Ratings is calling for another solid year for container shipping industry earnings as port congestion will continue to prevent a return to pre-pandemic levels. For shippers, this means high…