#Maritime

Drewry: China-US container rates up by double digits

That didn’t take long.

Container freight rates out from China to the United States are surging after the trading partners agreed to pause tariffs.

Freight rates from Shanghai to New York surged 19% or $704 to $4,350 per 40-foot container, and those from Shanghai to Los Angeles shot up 16% or $423 to $3,136 per 40-foot container, according to maritime consultant Drewry.

Rates from New York to Rotterdam, Netherlands, Europe’s busiest port, increased just 1% or $10 to $824 per container. Prices from...

https://www.freightwaves.com/news/drewry-china-us-container-rates-up-by-double-digits

House passes bill to counter Beijing’s influence over global ports

WASHINGTON — The House passed a bill on Thursday that would require heavy monitoring of China’s influence over global ports to eventually help the U.S. develop a strategy to counter that influence.

The Strategic Ports Reporting Act, sponsored by U.S. Rep. Bill Huizenga, R-Mich., requires the State and Defense departments to conduct a study analyzing plans by China to expand its control over ports around the world.

The report will also assess how Beijing’s container ship operator, COSCO Shipping,...

https://www.freightwaves.com/news/house-passes-bill-to-counter-beijings-influence-over-global-ports

Savannah sees record containers amid tariff frenzy

The biggest U.S. ports continue to benefit from the chaos in global trade.

The Port of Savannah saw its most successful April on record for container trade, moving 515,500 twenty-foot equivalent units, up 17%, or 74,500 TEUs, compared to April 2024.

It was the third consecutive monthly container record for Savannah following impressive performances in February, 480,000 TEUs, and March, 534,000 TEUs.

For the current fiscal year to date (July 2024-April 2025), the port has handled 4.8 million TEUs,...

https://www.freightwaves.com/news/savannah-sees-record-containers-amid-tariff-frenzy

US to take on possible fraud in foreign-flag registries

WASHINGTON — The Federal Maritime Commission is opening an informal investigation into whether so-called foreign “flags of convenience” are unfairly competing against the United States in the international container trades.

In a notice published Wednesday, the FMC said it is concerned about conditions created by the “wide and uneven” range of foreign vessel flagging regulations and practices, versus those of foreign countries that uphold high standards in their registries.

Some countries “have...

https://www.freightwaves.com/news/us-to-take-on-possible-fraud-in-foreign-flag-registries

Zim profit up on higher container volume, rates

Zim Integrated Shipping Services Ltd. said first-quarter net income was $296 million compared to $92 million a year ago, on total revenues of $2.01 billion, a 28% increase from $1.56 billion.

The Haifa-based carrier said the improvements were driven by increases in both freight rates and carried container volume.

The company (NYSE: ZIM) reported diluted earnings per share of $2.45 for the quarter ended March 31, up from 75 cents reported in the first quarter of 2024.

“As we look toward the...

https://www.freightwaves.com/news/zim-profit-up-on-higher-container-volume-rates

Mexico’s largest container port slowly reopens after worker strike 

Mexico’s largest container port resumed some operations Monday after a four-day strike by customs workers led to blockades, delays and logistics disruptions.

Revenue losses at the Port of Manzanillo due to the strike between May 12 and last Thursday are estimated to total $150 million, officials said.

Guillermo del Río, president of the Western Maquiladora and Export Manufacturing Industry Association, said although some drayage trucks began moving containers at the port on Monday, it will take...

https://www.freightwaves.com/news/mexicos-largest-container-port-slowly-reopens-after-worker-strike

No container tsunami heading to Los Angeles, says port chief

The head of the busiest U.S. container port doesn’t expect a big jump in import shipments during the pause in China tariffs.

“Next we will see an uptick in [vessel] bookings from China, but I don’t see a huge surge that will impact the Port of Los Angeles,” said port Executive Director Gene Seroka, in a monthly media briefing. “Probably less than the 30% that we had during the ‘peak of the peak’ of COVID.

“From all the stakeholders we talk with and all the data we review, we are seeing bookings...

https://www.freightwaves.com/news/no-container-tsunami-heading-to-los-angeles-says-port-chief

US trade representative holds second hearing on Chinese ship fees

United States Trade Representative Jamieson Greer will hold a second round of hearings Monday in Washington on port fees for China-built,- owned and -operated ships docking at American ports.

The punitive fees are meant to blunt China’s maritime dominance and help kick-start U.S. shipbuilding.

Public comments ahead of the USTR’s first hearing in April led to dramatic changes, notably from a scheme of blanket charges on all ships to fees based on net tonnage and number of containers carried.

Expecta...

https://www.freightwaves.com/news/us-trade-representative-holds-second-hearing-on-chinese-ship-fees

Long Beach sees record TEUs on trade war effect

The Port of Long Beach, California, marked its strongest April on record, handling 867,493 twenty-foot equivalent units, a 15.6% increase compared to the same month a year ago.

Volumes surpassed the previous record set in April 2022 by 5.7% at the hub. Imports rose significantly to 419,828 TEUs, representing a 15.1% increase y/y, while exports declined by 4.5% to 93,842 TEUs.

Empty containers saw the most dramatic change, jumping 23% to 353,824 TEUs, as demand for boxes moving out of Chinese...

https://www.freightwaves.com/news/long-beach-sees-record-teus-on-trade-war-effect

State of Freight takeaways: Freight crash may turn into sudden revival

What a difference a month makes. 

Four weeks after the April State of Freight webinar, when a raging trade war looked to wreak havoc on freight markets, the May edition of the monthly series confronted conditions that were getting at least a temporary reprieve because of the 90-day truce agreed upon by China and the United States.

The first signs of change are indications that freight movement from China to the U.S., pushed down sharply by the Trump administration’s 145% tariffs, is starting to...

https://www.freightwaves.com/news/state-of-freight-takeaways-freight-crash-may-turn-into-sudden-revival

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