Monthly Archives for July 2023

New capacity wave heading for trans-Pac trade: Sea-Intelligence The long-anticipated wave of container ship newbuildings will hit the water by the end of August, despite a weak cargo market that threatens to keep the new ships underutilized. New capacity wave heading for trans-Pac trade: Sea-Intelligence Journal of Commerce

Duisburg terminal stake extends PSA reach into Europe The global port operator is bolstering its multimodal supply chain capabilities with an investment that increases its already significant presence in the region. Duisburg terminal stake extends PSA reach into Europe Journal of Commerce

UPS, Teamsters break off contract talks The UPS and the International Brotherhood of Teamsters are battling on the brink of a potential strike, with both sides claiming the other has walked away from the negotiating table. UPS, Teamsters break off contract talks Journal of Commerce

First-half revenue, earnings contract sharply at Cosco, OOCL The extent to which the rapidly cooling container shipping market is hurting China’s main carriers is likely to be repeated across the industry as reporting season approaches. First-half revenue, earnings contract sharply at Cosco, OOCL Journal of Commerce

Vancouver, Prince Rupert face protracted port strike as talks stalemate Canadian business groups are pleading for Parliament to return to Ottawa and pass back-to-work legislation to end the ILWU Canada strike, but it will likely take days for the upper and lower houses to pass such legislation, if they heed the call. Vancouver, Prince Rupert […]

Vancouver, Prince Rupert face protracted port strike as talk stalemate Canadian business groups are pleading for Parliament to return to Ottawa and pass back-to-work legislation, but it will be days before the upper and lower houses are likely able to pass if they heed the call. Vancouver, Prince Rupert face protracted port strike as talk […]

Maersk warns of hefty Asia-Europe rate hike from July 31 The carrier is attempting to stem the spot rate slide in a weak demand-high-capacity environment that has seen freight prices falling more than 80% from the record highs of early last year. Maersk warns of hefty Asia-Europe rate hike from July 31 Journal of Commerce

Teamster workers ratify ABF contract, UPS deal draws closer The ABF-Teamsters contract is the first of three major negotiations the union is conducting this summer to make it past the finish line, with UPS and TForce Freight talks still ongoing. Teamster workers ratify ABF contract, UPS deal draws closer Journal of Commerce

USDOT awards M to boost port emissions reduction, surface projects The US Department of Transportation is funding infrastructure projects that include carbon neutralization plans, updating miles of century-old rail and improving port access roads. USDOT awards M to boost port emissions reduction, surface projects Journal of Commerce

Weakening ocean market puts renewed focus on Maersk integrator strategy The carrier accelerated its reach into the direct shipper market during the pandemic when access to vessel space was severely limited, but as demand slows and capacity grows, the company may need to increase its forwarder business. Weakening ocean market puts renewed focus on Maersk […]