Seasonal surges in cargo demand, along with wildfire risks in California, have increased dwell times and slowed rail operations on the U.S. West Coast, according to an advisory from ocean carrier Maersk Line.
GPA announces sweeping port-wide infrastructure developments
At the annual State of the Port Address, Georgia Ports Authority (GPA) Executive Director Griff Lynch detailed the record cargo volumes at Georgia ports as well as future plans for transportation and logistics infrastructure improvements across the state.
HMM CEO highlights challenges of IMO sulfur cap
Meanwhile, ExxonMobil recently released a survey illustrating how the route to compliance with the International Maritime Organization’s 2020 limit on the amount of sulfur allowable in marine fuel is still unclear for many vessel operators.
Port of Oakland grows operating income, revenues in FY 2017
The Port of Oakland posted record operating revenues for the fiscal year, which ended June 30, thanks to higher operating revenues in all three of its business lines – aviation, maritime and commercial real estate.
Spot rates continue to decline on Shanghai-Europe, Med trades
Spot container rates from Shanghai to Europe have been continuously declining since the end of August, while on the Shanghai to Mediterranean trade, they have been falling since the end of July.
Port of Los Angeles grows monthly, quarterly TEU volumes
Empty containers drove up overall volumes last month at the Southern California port due to trade policy changes impacting waste paper exports to China, according to the Port of Los Angeles.
NYSHEX touts 99.6% fulfillment rate for ocean contracts
Thanks to its forward contract model, the digital booking platform offers shippers and carriers an extraordinarily high fulfillment rate over the traditional spot rate market, CEO Gordon Downes told CNBC Tuesday.
Virgin Group invests in Hyperloop One for cargo, passenger transport
The parent company of Virgin Atlantic Cargo has rebranded the futuristic technology known as Hyperloop One into Virgin Hyperloop One and is planning for a fully-functioning cargo and passenger transport system by 2021.
Drewry: World Container Index down 1% this week
Carriers are expected to attempt rate hikes for the second half of October, which should result in an upward rate movement next week, according to London-based maritime consultant Drewry.
UPS invests in Chinese shipping, delivery operations
UPS is enhancing services in 20 cities across China to provide greater, faster service coverage for Chinese exports, the parcel carrier announced Tuesday.