Monthly Archives for May 2024

ILA, local ports wrapping up contracts, setting up coastwide talks The International Longshoremen’s Association and its maritime employers are highlighting amicable outcomes to previous contract talks as they get ready to restart coastwide negotiations. ILA, local ports wrapping up contracts, setting up coastwide talks Journal of Commerce

Concluding local talks lays path for coastwide ILA contract The International Longshoremen’s Association and its maritime employers are highlighting amicable outcomes to previous contract talks as they get ready to restart coastwide negotiations. Concluding local talks lays path for coastwide ILA contract Journal of Commerce

MPV rates rising as diversions, increasing demand tighten vessel supply Time charter equivalents and forward bookings are increasing as project-related demand strengthens and carriers continue to reroute voyages away from the Red Sea. MPV rates rising as diversions, increasing demand tighten vessel supply Journal of Commerce

FMC clarifies language around ocean carrier-drayage provider billing Two weeks before new rules around detention and demurrage billing go into effect, the US Federal Maritime Commission has told ocean carriers that contracts independent of a “through bill of lading” fall outside its jurisdiction. FMC clarifies language around ocean carrier-drayage provider billing Journal of Commerce

Forward Air claims ‘no customer attrition’ following Omni merger The expedited surface transportation provider said it has kept customers and is adding business but needs to “aggressively” address profitability after a first-quarter loss. Forward Air claims ‘no customer attrition’ following Omni merger Journal of Commerce

Ro/ro carriers report mixed results on ‘sold out’ capacity Roll-on/roll-off carriers Wallenius Wilhelmsen and Höegh Autoliners anticipate high auto volumes and tight capacity ahead amid Red Sea-driven diversions. Ro/ro carriers report mixed results on ‘sold out’ capacity Journal of Commerce

Yang Ming nearly triples Q1 profits on improving shipping market While Yang Ming was upbeat about improving container volumes and easing global inflation, the Taiwan-based ocean carrier warned of geopolitical volatility. Yang Ming nearly triples Q1 profits on improving shipping market Journal of Commerce

Declining India–Europe vessel reliability reverses rate decline Poor schedule reliability, challenged by a container supply chain that has been stretched thin by diversions away from the Suez Canal, is causing spot rates from India to Europe to rebound. Declining India–Europe vessel reliability reverses rate decline Journal of Commerce

Dali refloating triggers multiyear insurance claim process for shippers Shippers will soon be able to retrieve cargo aboard the Dali, but they or their insurers will be expected to post sizeable bonds to cover general average claims. Dali refloating triggers multiyear insurance claim process for shippers Journal of Commerce

No sign of air freight demand easing as ‘slow’ summer nears Underpinning strong volume growth is booming demand for Chinese e-commerce in the US and modal shift from ocean to air in South Asian countries to mitigate Red Sea disruptions. No sign of air freight demand easing as ‘slow’ summer nears Journal of Commerce