Transpacific rates are once again flying high with eastbound volumes hitting the stratosphere with a US$17,000/FEU rate hitting the top rate for this week.
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At least 35 to 40 ships were at anchor off the US West Coast this week as the congestion at ports continues in the US and spreads to ports beyond North America, even as rates on the two major trades out of China to the US and Europe fell.
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https://container-news.com/freight-rates-fall-but-congestion-in-southern-california-is-maintained/
As the pandemic has progressed through 2020 we have seen the ups and downs of economic activity and the struggles of an industry to maintain the vital trade links that support a nation. Consultant Jon Monroe chronicles these events weekly. As the Lunar New Year ends Monroe gives us his own, inimitable, take of the week in a Pandemic.
China is open for business. The year of the bull begins. Good luck to us all. This week we are hearing good news on the Covid front. Daily vaccinations are...
https://container-news.com/a-week-on-the-us-west-coast-during-the-covid-pandemonium/
Retail sales figures in the United States showed no signs of abating as the National Retail Federation (NRF) reported increases in retail generally and substantial increases in the proportion of goods sold online.
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Nick Savvides
Managing Editor
The...
https://container-news.com/us-online-sales-continue-to-climb/
In the sixth week of the year, the evolving situation in Asia and the United States (US) has seen an increase in demand, pre-Chinese New Year, driver shortages in China, extra capacity and a further increase in delayed cargo in key export regions.
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https://container-news.com/driver-shortages-in-china-expected-to-further-hit-exports/
Staff from factories and truck drivers in China have ignored incentives to work through the Chinese New Year and have headed home for the New Year celebrations, according to Worldwide Logistics consultant Jon Monroe.
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Rising costs in the US market have continued apace as the latest news reports suggest the cost of trucking has more than doubled, from US$35 to US$75/day, while some beneficial cargo owners (BCOs) are paying super-rates to ensure their cargo gets shifted, while others have decided the costs are too high and the service is too poor.
Meetings between carriers and authorities are expected to take place in China this week, with the Federal Maritime Commission and the EU both reporting that they are...
https://container-news.com/us-drayage-costs-more-than-double-as-ocean-rates-spiral-ever-upwards/
Spiking freight rates have surged by 25% on the Asia to North Europe and the Mediterranean over the last week and now stand at triple the levels seen at the end of October according to the Freightos Baltic Index (FBX).
Meanwhile, on the Pacific freight rates dipped 7% to the US West Coast and 8% to East Coast ports, over the past week according to Freightos CMO Ethan Buchman. Rate levels were still more than double the levels of a year ago.
Regulators in China and the US have worked to keep a lid...
https://container-news.com/spot-rates-hit-unprecedented-highs-from-asia-to-europe/
Ocean Network Express (ONE) brings some welcome news with the first signs that the challenges faced by logisticians are being overcome with eh announcement that its reefer congestion surcharge (CGS) has been suspended at its Tianjin/Xingang terminal effective from 28 December.
One is not alone, MSC also scrapped its Xingang CGS on 24 December, following the alleviation of congestion at the port.
Appreciated as this news is from ONE and MSC, Worldwide Logistics, in the form of consultant Jon...
Today’s launch of CMA CGM’s SEAPRIORITY go and SEAPRIORITY get by CMA CGM reveals the confidence carriers have that t
he current surge in cargo on the Pacific will continue, but also shows the lines’ newfound ability to manage capacity, bolstering rates and carrier income.
SEAPRIORITY go will offer fast, 12-day, transit times from Yantian to Los Angeles with priority given to cargo out of Yantian to receive equipment and space on board the vessel. SEAPRIORITY get gives priority to...
https://container-news.com/liner-competition-shifts-focus-to-nvoccs/