containerized freight

Descartes: Container import volume trajectory is strong

The container market continued to show strength in March as the pull forward ahead of the Lunar New Year continues to pay dividends at the ports.

According to the monthly report by Descartes, U.S. container import volumes in March climbed by 0.4% from February and over 15% from March 2023. The year-over-year gains can be explained by the timing of the Lunar New Year: This year’s holiday occurred nearly three weeks later than in 2023.

Descartes reported that U.S. container import volumes in...

https://www.freightwaves.com/news/descartes-container-import-volume-trajectory-is-strong

Port Houston shows import strength in February

The Gulf Coast ports have received a lot of attention in recent years and rightfully so. The ports along the Gulf Coast provided a pressure relief valve of sorts, though they suffered with congestion throughout the pandemic as well.

What separates the Gulf Coast ports from the major East and West Coast ports is the importance that bulk cargo and the industrial sector as a whole play in port volume. At Port Houston, over a third of all tonnage cleared in 2022 was noncontainerized.

Source: Port...

https://www.freightwaves.com/news/port-houston-shows-import-strength-in-february

Carriers’ pricing power slipping amid continued Red Sea conflict

The first fatal Houthi attack on a commercial vessel happened earlier this week, claiming three lives. The attacks in the Red Sea have created diversion around the Cape of Good Hope across all of the major container shipping companies, as they opt for the safety of crews and cargo at the expense of shorter transit times.

The result of the diversion has been a surge in global container spot rates of over 200% in a matter of weeks. Rates have reached levels well in excess of what was experienced...

https://www.freightwaves.com/news/carriers-pricing-power-slipping-amid-continued-red-sea-conflict

Restocking boosts January US port activity

The past few years have brought plenty of questions as to whether the COVID-19 pandemic changed supply chains permanently or, once constraints eased, if supply chains would return to pre-pandemic patterns. Those answers are starting to reveal themselves as the ports release January figures.

The biggest East Coast port, the Port of New York and New Jersey, retained its place as the second-busiest port in the country in terms of loaded imports, only surpassed by the Port of Los Angeles.

On...

https://www.freightwaves.com/news/restocking-boosts-january-us-port-activity

Are ocean spot rates past their peak?

2023 was a challenging year for ocean carriers, especially those that have spot exposure. They have seen significant slashes to revenue and profitability. 

Zim Integrated Shipping (NYSE: ZIM), a carrier with more spot exposure than some of the other large ocean carriers, saw a 61% year-over-year reduction in third-quarter revenue, and earnings before interest and taxes fell by $1.77 billion to a loss of $213 million. The Freightos Baltic Daily Index from China to the North American west coast...

https://www.freightwaves.com/news/have-ocean-spot-rates-passed-their-peak

Port of Los Angeles shines in January

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The Port of Los Angeles’ January import numbers highlight that the inventory glut of 2022 and early...

https://www.freightwaves.com/news/port-of-los-angeles-shines-in-january

Water level projections threaten future Panama Canal transits

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Dry season in Panama is in full swing, and the impacts to trade through the Panama Canal will...

https://www.freightwaves.com/news/water-level-projections-threaten-future-panama-canal-transits

FreightWaves Classics: IMC Companies – drayage-focused for 40 years

IMC Companies' trucks at the ready. (Photo: IMC Companies)

FreightWaves Classics is sponsored by Sutton Transport, an LTL leader in the Midwest for more than 40 years. Sutton Transport proudly services Illinois, Minnesota, Missouri and Wisconsin. Request a quote here.

IMC Companies began as a regional drayage firm in Memphis 40 years ago. Since then, its leaders have developed a national network of drayage companies. IMC Companies leverages its companies’ local expertise, and has built a technology infrastructure that moves containers faster. IMC...

https://www.freightwaves.com/news/freightwaves-classics-imc-companies-focused-on-drayage-for-40-years

SONAR Sightings for Sept. 8: Capacity seems to be able to handle increased volume from Port of Savannah, Georgia

The highlights from Thursday’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.

Market watchSavannah, Georgia

Outbound tender rejections in Savannah are bouncing back to start September but are still low in comparison to where they were through the summer.

Since Sept. 1, the Outbound Tender...

https://www.freightwaves.com/news/sonar-sightings-for-sept-8-capacity-seems-to-be-able-to-handle-increased-volume-from-port-of-savannah-georgia

SONAR Sightings for Aug. 30: Port of LA finally catching up, creating increased truckload volume

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.

Market watchLos Angeles

As more containerized imports are being shipped to the East Coast in an effort to ease congestion at the West Coast ports of Los Angeles and Long Beach, California, dwell times at the port of...

https://www.freightwaves.com/news/sonar-sightings-for-aug-30-port-of-la-finally-catching-up-creating-increased-truckload-volume

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