project 44

Port congestion eases in the United States, shifts to Asia

The US West and East Coast ports saw a reduction in port congestion during January, as workers cleared a substantial backlog amid Covid-19 outbreaks, according to the supply chain visibility platform provider Project44.

Particularly, the number of days that ships were waiting to berth at US ports, on average, fell from 14.1 days in December to 7.4 days in January, according to Project44 intelligence.

However, while there was some easement at US ports, including Los Angeles (POLA) and Long Beach...

https://container-news.com/port-congestion-eases-in-the-united-states-shifts-to-asia/

Project44 receives US$420 million investment

The supply chain visibility platform Project44 has received an investment of US$420 million from a syndicate led by the private equity companies Thoma Bravo and TPG as well as the investment banking company Goldman Sachs.

The syndicate with participation from Emergence Capital, Insight Partners, Chicago Ventures, Generation Investment Management, Sapphire and Sozo Ventures has acquired equity interests, resulting in a pre-money valuation of US$2.2 billion, and Sixth Street committed to making...

https://container-news.com/project44-receives-us420-million-investment/

US importers using box ships to store cargo – cheaper than warehouses

The combination of congestion at US west coast ports and low interest rates is allowing US importers to use containerships as ‘offshore warehouses’, mitigating logistics costs.
According to freight visibility company project44, transit times from China to Los Angeles have nearly tripled, with freight taking up to 60 days to be cleared through LA and Long Beach ports – its data suggests an average of 540,255 teu per month was waiting …

The post US importers using box ships to store cargo –...

https://theloadstar.com/us-importers-using-box-ships-to-store-cargo-cheaper-than-warehouses/

California’s congestion leads billions of dollars worth of cargo waiting outside USWC ports racking up millions in interest

A report conducted by the provider of supply chain visibility platform for shippers and logistics firms, Project 44, has shown that the worth of cargo waiting outside the US West Coast ports in 2021 has racked up millions in interest due to port congestion.

Data from the Ports of Los Angeles (POLA) and Long Beach (POLB) as of 7 January have shown that 103 vessels, expected to deliver approximately 147,000 TEU at these two ports, were either waiting in a zone of 74 km or loitering, drifting, or...

https://container-news.com/californias-congestion-leads-billions-of-dollars-worth-of-cargo-waiting-outside-uswc-ports-racking-up-millions-in-interest/

Tech solutions are plugging in to help ease widening congestion at global ports

As shipping’s port congestion crisis widens, tech-players are hoping to capitalise on calls for improved visibility across container supply chains.
SeaIntelligence’s Lars Jensen noted the lack of any real-time overview of global bottlenecks, as pockets of congestion spring up from Auckland to Singapore to Los Angeles.
“Instead, it is drip-wise in terms of each individual port,” he explained. “Sometimes you can only get the info from a carrier calling at the port/terminal, …

The post Tech...

https://theloadstar.com/tech-solutions-are-plugging-in-to-help-ease-widening-congestion-at-global-ports/