The Department of Energy/Energy Information Administration average retail diesel price fell 4.5 cents a gallon to $3.534, with the price released Tuesday morning but with an effective date Monday. It’s the second consecutive decline, coming after three weeks of gains that added 9 cents a gallon to the DOE/EIA price. The two latest declines then sliced 10.5 cents off the price.
For most of April, the futures price of ultra low sulfur diesel on the CME commodity exchange has been extremely...
Shares of the biggest U.S.-flag container carrier are taking a beating as President Donald Trump tries to reset global trade.
Honolulu-based Matson (NYSE: MATX) has seen its share price lose nearly 30% of its value from a 52-week high of $169.12 to $94.50 as of Monday.
The collapse has been even steeper from $132.55 as of April 2 when the U.S. implemented the most recent round of tariffs even as the broader shipping sector recovers from the disruption of trade.
During that time, shares of...
In recent weeks, the container shipping industry has seen significant changes in scheduled vessel capacity, particularly on routes connecting Asia to North America, in response to the volatile trade climate and the rapidly changing tariff situation.
SONAR’s Container Atlas data indicates a 20% decline in China order bookings year on year through mid-April, as shippers mull shifts to Vietnam and other manufacturing centers in the region.
“Our distributors have been urging us to order, order,...
https://www.freightwaves.com/news/trans-pacific-blank-sailings-soar-as-ocean-shipments-plunge
China’s largest container carrier on Monday lashed out at a U.S. plan to charge its ships steep fees to dock at American ports.
“We firmly oppose the accusations and the subsequent measures,” Cosco Shipping Lines said in a statement. “Such measures not only distort fair competition and impede the normal functioning of the global shipping industry, but also threaten its stable and sustainable development.
“Ultimately, these actions risk undermining the security, resilience, and orderly operation...
https://www.freightwaves.com/news/chinas-cosco-says-us-port-charges-threaten-global-supply-chains
U.S. plans next month to cancel tariff-free access for low-value parcel shipments from China and Hong Kong, coupled with a new 145% tariff rate on Chinese imports, could bleed more than $22 billion in revenue from the air cargo sector over three years and put thousands of online sellers with direct-to-consumer fulfillment models out of business, according to an e-commerce and logistics consulting firm.
Derek Lossing, the founder of Cirrus Global Advisors, has previously said the Trump...
https://www.freightwaves.com/news/air-cargo-faces-22b-revenue-hit-when-china-tariff-exemption-ends
Borderlands Mexico is a weekly rundown of developments in the world of United States-Mexico cross-border trucking and trade. This week: Source Logistics eyes rising US demand for Hispanic brands; South Korean automotive supplier opens $160M facility in Mexico; Otay Mesa border crossing secures $150M federal grant; and CBP snags $14M in meth from tractor-trailer.
Source Logistics eyes rising US demand for Hispanic brands
With Hispanics making up 20% of the U.S. population and growing annually,...
Integrated logistics company DHL on Monday will temporarily suspend e-commerce shipments to individuals in the United States when the declared customs value exceeds $800 because import specialists are overwhelmed filing extra documentation after U.S. customs authorities lowered the threshold for filing an informal entry.
U.S. Customs and Border Protection on April 5, in response to President Donald Trump’s order for reciprocal tariffs under emergency authority, began requiring a formal entry...
https://www.freightwaves.com/news/dhl-temporarily-suspends-b2c-shipments-over-800-to-us
Ryan Petersen, CEO of digital freight forwarder Flexport, took to X on Thursday to issue a stark warning, predicting that thousands, and potentially millions, of American small businesses could face bankruptcy in 2025 unless the U.S. reverses its aggressive tariff policies on Chinese imports. In his thread, Petersen outlined how these tariffs, which have already slashed ocean freight bookings from China by up to 50% — SONAR’s Container Atlas data suggests the true number is more like -20% y/y —...
The United States late Thursday announced a multi-phase scheme for port fees on Chinese-linked shipping based on the size of ships.
The reset comes after a wave of opposition during public hearings in March from shippers, exporters and other maritime stakeholders to millions of dollars in fees proposed by the United States Trade Representative.
The long-term plan also accommodates what is expected to be a years-long ramping up of domestic shipyard capacity. China produces about 1,700 ships per...
https://www.freightwaves.com/news/us-plans-phased-approach-to-port-fees-for-chinese-ships
Just a few weeks after the March State of Freight webinar, FreightWaves and SONAR CEO Craig Fuller and SONAR Chief of Market Intelligence Zach Strickland took to the same platform with a significantly altered freight market landscape in front of them.
In March, what was on the table were auto tariffs, now paused. But what happened in the relatively short interim was Liberation Day, and the escalating tariff war with China that has put 145% tariffs on imports from that country, the largest...
https://www.freightwaves.com/news/five-takeaways-from-the-state-of-freight-a-market-at-the-precipice