FASA

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.

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.

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 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.

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.

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.

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.

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.