Category Archives for Industry News

Plunge in trans-Pac rates, volumes sink Q4 revenues for Taiwan carriers Despite the fourth-quarter crash in revenues, all three Taiwan-based carriers still booked record revenues for the full year, suggesting they will report bumper profits for 2022. Plunge in trans-Pac rates, volumes sink Q4 revenues for Taiwan carriers Journal of Commerce

Domestic intermodal rail volumes likely to slip after 2022 uptick As consumer buying patterns return to a more normal mix of goods and services in 2023, domestic intermodal providers will have to find a way to fill a huge influx of boxes ordered during the pandemic. Domestic intermodal rail volumes likely to slip after 2022 […]

Zim wades into trade finance market with startup investment Zim has joined a growing group of companies that see potential in giving small importers and exporters access to digital finance tools through an investment in an Israel-based startup. Zim wades into trade finance market with startup investment Journal of Commerce

West Coast cargo bleed to continue until labor talks are resolved: stakeholders The West Coast’s share of US imports from Asia will continue to deteriorate in the first quarter and beyond until terminal operators and the International Longshore & Warehouse Union agree on a new contract, sources say. West Coast cargo bleed to continue until […]

Don’t confuse ocean market collapse with carrier weakness: analyst Despite the collapse in spot rates, ocean carriers are fundamentally in a stronger position than in the past, and shippers would be wise not to confuse a temporary downcycle with the liners’ structurally stronger long-term position, writes analyst Lars Jensen. Don’t confuse ocean market collapse with […]

Jaxport secures funding to raise power lines for Blount Island big ship calls The Port of Jacksonville said it has the estimated funding in place from the city and state of Florida to increase the air draft on its main ship channel to accommodate larger post-Panamax vessels. Jaxport secures funding to raise power lines for […]

USDA urges FMC to hone OSRA-22 export rules for ag shippers The Ocean Shipping Reform Act’s export provisions need further clarification to explain instances when US ag exports don’t get on a ship, the US Department of Agriculture said. USDA urges FMC to hone OSRA-22 export rules for ag shippers Journal of Commerce

Declining freight demand prompts Flexport to cut 20 percent of global staff Falling demand for ocean and air freight services is driving headcount cuts across the logistics sector, with forwarder Flexport the latest to announce layoffs. Declining freight demand prompts Flexport to cut 20 percent of global staff Journal of Commerce

Antwerp-Bruges volume fell 5.2 percent in 2022 amid operational challenges Heavily disrupted shipping markets kept container handling at the Belgian hub of Antwerp-Bruges under pressure throughout 2022. Antwerp-Bruges volume fell 5.2 percent in 2022 amid operational challenges Journal of Commerce

Maersk, MSC add ships in restructured trans-Atlantic trade The disruption to trade lanes caused by the pandemic is over, but slowing demand has left carriers struggling to manage the existing capacity flooding back into service as congestion eases and new ships are delivered. Maersk, MSC add ships in restructured trans-Atlantic trade Journal of Commerce