BIMCO’s SNOW (W35): US West Coast laden container exports fall to 327,417 TEU
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Shipping Number Of the Week form BIMCO
US West Coast laden container exports fall to 327,417 TEU
Exports from the major US west coast container ports took another hit in July, falling to their lowest level since at least 2010, the earliest BIMCO has data for. Just 327,417 TEU have been exported with goods. In contrast exports of empty containers have been record high this year with July...
The Freightos Baltic Global Container Index (FBX) climbed 21% this month to an FBX-high of $4,077/FEU, a 162% increase annually, says an article published in Baltice Xchange.
Pandemic Still RagingWith the pandemic still raging and consumers still spending on goods instead of services that require leaving the house, demand for ocean freight continued to surge through the normal post-holiday lull and straight toward Chinese New Year in February.
The persistence of peak level demand and volumes –...
https://mfame.guru/freightos-baltic-global-container-index-climbed/
While the US east coast ports are in expansion mode, anticipating growth, the nation’s prime maritime gateway on the west coast remains choked with traffic.
The congestion that has plagued the port complex of Los Angeles and Long Beach in recent months has got worse lately, with dwell times for vessels of almost a week, while on the docks containers pile up, slowing movement of boxes off the facilities.
There has been …
The post US east coast ports expand to handle traffic bypassing congestion...
Chinese authorities are set to interfere in both pricing and capacity management on the transpacific, as rates soared to record highs again this week.
China’s ministry of communications today discussed refusing to allow carriers to increase the spot rate from China to the US, and that their suspended sailings must be reinstated from week 42.
The move was reported by Zest Shipping Media, but not confirmed by the government. Zest noted that …
The post China set to step in and hold down rates, with...
https://theloadstar.com/china-set-to-step-in-and-hold-down-rates-with-ocean-freight-a-global-mess/
US west coast ports, and rail and road links to the interior, are currently struggling with a surge of imports from Asia, mostly from China.
Despite all the fiery rhetoric and tariffs, the flow of goods from China to the US has not slowed down.
“We have not seen a major slowdown in business with China, it’s pretty steady, if not growing,” said Bob Imbriani, vice-president international services of forwarder Team Worldwide.
If …
The post Trade war and tariffs fail to slow growing surge of US...
https://theloadstar.com/trade-war-and-tariffs-fail-to-slow-growing-surge-of-us-imports-from-china/
Transpacific container spot rates to the US west coast have powered over the $3,000 mark to hit a record level of $3,167 per 40ft.
The US west coast component of today’s Shanghai Containerized Freight Index (SCFI) soared 17% on the back of 1 August GRIs and is now 100% higher than a year ago.
The spot rate surge represents the highest SCFI reading for the west coast in the decade-long history of …
The post Transpac rates at new heights, but reviving blank sailings could muddy the water appeared...
Just as their inbound flows are building up, US importers are facing tight capacity on the water, chiefly out of Asia.
“We had at least two conference calls with customers and shipping lines about this in the last few days,” reported Bob Imbriani, senior vice-president international of forwarder Team Worldwide.
“It’s more difficult to get space, and you have to book earlier,” he added.
Waterborne US imports from Asia in June were 9.5% …
The post Demand spike and blank sailings make US importers...
https://theloadstar.com/demand-spike-and-blank-sailings-make-us-importers-scramble-for-capacity/
Efforts to push rates up on Asia-North Europe trades are still failing, and carriers are now also beginning to feel the pinch from the China-US trade wars.
The Shanghai Containerised Freight Index (SCFI) today recorded spot rates for North Europe virtually unchanged, up just 0.2% to $812 per teu.
While this modest increase will allay some of concerns, there have been significant efforts to push rates up, with carriers removing a reported …
The post Transpacific rates take a tumble as trade war...
https://theloadstar.com/transpacific-rates-take-a-tumble-as-trade-war-ripples-spread/
An article in Llyods list explains why 2018 was a forgettable year for the Container lines.
Fuel prices and US-China trade scenarioThe year 2018 started well for container lines, with year-end results from 2017 showing positive figures. However, rates began to stumble in the new year and the...
http://mfame.guru/what-caused-a-less-than-stellar-year-for-container-lines/