Customer-carrier relations

Market insight: Frustration boils over in the bunker

The bunker mentality in logistics is awful.
Indeed 
Far from being educational, perhaps instead only mildly reflective, if anything, this column today is a mere representation of the informal feedback received from the corporate side and our private circles.
Taking a breather from the numbers, the insights and the like, the classic “do not shoot the messenger” applies.
But also, “if they talk about it, we talk about it” – and if they don’t …

The post Market insight: Frustration boils over in the...

https://theloadstar.com/market-insight-frustration-boils-over-in-the-bunker/

Record container carrier profits on course to extend for a further two years

After cumulative ocean carrier profits exceeded some $9bn for the final quarter of 2020, the returns for the liner industry could double that in Q1 this year.
Cosco Shipping told analysts last week it expected its Q1 net profit would reach a massive $2.3bn, compared with just $44m for the same period a year ago, after its average freight rate leapt 54% quarter on quarter.
“It will be another strong year for …

The post Record container carrier profits on course to extend for a further two years...

https://theloadstar.com/record-container-carrier-profits-on-course-to-extend-for-a-further-two-years/

Sky-high container spot rates spark emergence of ‘dark side’ of shipping

Ocean carriers are cracking down on a spike in fraudulent contract bookings being driven by sky-high FAK rates from Asia.
Moreover, forwarders are gaining business from shippers based on “speculative” quotations.
In their struggle to overcome supply chain disruptions, embattled shippers faced with massive increases in their transport costs have widened the net to source new service providers and indirectly encouraged the emergence of what one contact described as the “dark side …

The post Sky-hig...

https://theloadstar.com/sky-high-container-spot-rates-spark-emergence-of-dark-side-of-shipping/

Buoyant ocean carriers set to roll out peak season surcharges months early

Asia-North Europe container spot rates eased back slightly this week, as carriers ‘hoovered up’ stockpiled cargo accumulated before Chinese New Year.
However, rates from Asia to the US increased again.
Today’s reading of the Freightos Baltic Index (FBX) for a 40ft from Asia to North Europe was $8,308, compared with $8,430 a week ago, but for west Mediterranean ports, the FBX spot rate edged up $74, to $7,967 per 40ft.
The modest softening …

The post Buoyant ocean carriers set to roll out peak...

https://theloadstar.com/buoyant-ocean-carriers-set-to-roll-out-peak-season-surcharges-months-early/

US FMC orders carriers and terminals to explain ‘excessive’ D&D charges

US marine regulatory agency the Federal Maritime Commission (FMC) is to order container lines serving Los Angeles, Long Beach and New York, and box terminal operators in the same ports, to explain how they calculate detention and demurrage charges. 
FMC commissioner Rebecca Dye, who has been leading the organisation’s investigation into the application of detention and demurrage fees, will issue the orders to determine if “legal obligations related to detention and demurrage practices are being...

https://theloadstar.com/us-fmc-orders-carriers-and-terminals-to-explain-excessive-dd-charges/

More misery for shortage-hit shippers as ocean carriers tighten booking

Carriers are imposing booking stops around Europe, as well as tightening the time allowed to pick up equipment prior to vessel departure dates.
The moves come as exporters from North Europe to Asia continue to struggle to secure equipment and vessel space.
One UK forwarder source told The Loadstar that, for one client, it had taken him over three weeks of searching in December to find a carrier prepared to offer equipment …

The post More misery for shortage-hit shippers as ocean carriers tighten...

https://theloadstar.com/more-misery-for-shortage-hit-shippers-as-ocean-carriers-tighten-booking/

Shippers and forwarders claim carriers breach contracts to demand higher rates

As Asia-Europe container spot rates continue to skyrocket, shippers and freight forwarders are accusing carriers of breaching short- and long-term contracts to “charge whatever they want”.
In a joint letter to the Competition Directorate of the European Commission (EC), the European Freight Forwarders Association (CLECAT) and European Shippers’ Council (ESC) have protested about the “damage” the carriers’ behaviour is “causing to trade growth at a time of economic recession”.
According to the …

T...

https://theloadstar.com/shippers-and-forwarders-claim-carriers-breach-contracts-to-demand-higher-rates/

A look back at 2020 – the year that container supply chains collapsed

As an unparalleled year for container shipping draws to a close ocean carriers are popping champagne corks to celebrate record profits, while beleaguered shippers reel against skyrocketing freight rates and a broken supply chain.
2020’s annus horribilis for shippers threatens their very existence and has left relationships with carriers in tatters.
However, back in May, at the height of the pandemic, it was the container lines that were staring into the abyss …

The post A look back at 2020 – the...

https://theloadstar.com/a-look-back-at-2020-the-year-that-container-supply-chains-collapsed/

Governments must back common rules for demurrage and detention fees

Concern about the widespread application of detention and demurrage charges has led the British International Freight Association to call for governments around the world to adopt the US Federal Maritime Commission’s position on the fees.
BIFA said it was joining a call from The International Federation of Freight Forwarders Associations (FIATA) for governments to support the key considerations laid out by the FMC in its Final Rule on Demurrage and Detention, …

The post Governments must back...

https://theloadstar.com/governments-must-back-common-rules-for-demurrage-and-detention-fees/

An ‘uphill battle for shippers’ on the transpacific as carriers shy away from contracts

As Asia-US demand continues to surge, BCOs are struggling to ship contracted cargo and are increasingly turning to NVOCCs to support their fractured supply chains.
Anecdotal reports to The Loadstar suggest carriers are finding spurious reasons to refuse the release of equipment at depots in China, in addition to rolling contracted containers without notice.
“It’s a no-brainer really,” one Shanghai-based forwarder told The Loadstar. “Carriers can get four times the price for …

The post An ‘uphill...

https://theloadstar.com/an-uphill-battle-for-shippers-on-the-transpacific-as-carriers-shy-away-from-contracts/

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