Monthly Archives for June 2023

IMO must set zero-emission target for 2050: Norwegian shipowners The shift to green fuels needs to be “supercharged” by establishing a clear zero-emissions target at the IMO’s July meeting, according to an Oslo-based shipowner group. IMO must set zero-emission target for 2050: Norwegian shipowners Journal of Commerce

Second month of big Asia-Med volume growth drives market optimism There are growing expectations in the container shipping market that the Asia-Europe trade will see a peak season this year as European import volume growth continued in April. Second month of big Asia-Med volume growth drives market optimism Journal of Commerce

CMA CGM to acquire share of Cosco’s Spanish terminal unit The Marseilles-based carrier continues to grow its terminal portfolio in strategic areas as part of a broad move to control the end-to-end logistics of customer shipments. CMA CGM to acquire share of Cosco’s Spanish terminal unit Journal of Commerce

Rate of US import declines to slow into third quarter: retailers The year-on-year gap in monthly import volumes will only narrow as shippers start to ramp up back-to-school and seasonal product ordering, says the National Retail Federation. Rate of US import declines to slow into third quarter: retailers Journal of Commerce

Hamburg Sud hit with million FMC judgment in shipper retaliation case The carrier was found to have willfully engaged in retaliation against a Florida-based retailer who had sought relief for $40,000 in detention fees. Hamburg Sud hit with million FMC judgment in shipper retaliation case Journal of Commerce

Seattle effectively shut, vessel backup builds in LA-LB amid ILWU job actions The latest labor-related port disruptions along the West Coast came as coastwide contract negotiations between the ILWU and the Pacific Maritime Association were scheduled to resume Wednesday. Seattle effectively shut, vessel backup builds in LA-LB amid ILWU job actions Journal of Commerce

US truckload spot rates likely nearing bottom: analysts Trucking analysts believe the downward pressure on rates has ended – or is close to ending, but an upward surge isn’t necessarily on the horizon, either. US truckload spot rates likely nearing bottom: analysts Journal of Commerce

Latest ILWU job action further energizes West Coast cargo diversions Shippers diverting goods away from the West Coast typically like what they see: Ports up and down the East and Gulf coasts that have invested significantly to handle growth, are customer-focused, take fluidity seriously and have experienced virtually no labor disruption since the late 1970s. […]

Stage set for IMO to provide strong direction on decarbonization path The International Maritime Organization has an opportunity next month to set more aggressive goals to slash carbon emissions, which could send a powerful signal to stakeholders needing direction, writes Journal of Commerce Executive Editor Mark Szakonyi. Stage set for IMO to provide strong direction […]

US importers still destocking, and delaying restocking in uncertain economy US consumers are still spending, but at a slower rate, and that’s pushing major restocking of goods further toward the back half of 2023, analysts and retailers say. US importers still destocking, and delaying restocking in uncertain economy Journal of Commerce