Category Archives for Industry News

Short-term US industrial real estate market clouded by uncertainty: JLL In a new report, industrial real estate firm Jones Lang LaSalle said fundamentals such as absorption of warehouse and distribution space, vacancy rates, deliveries of new properties and subleasing activity slowed in the second quarter. Short-term US industrial real estate market clouded by uncertainty: JLL […]

Lag in higher contract rates to drive second-half profitability: Maersk CFO The carrier believes the ongoing disruption in the Red Sea is now “entrenched” and will not change for the rest of the year. Lag in higher contract rates to drive second-half profitability: Maersk CFO Journal of Commerce

Maersk CEO says port strike along US East, Gulf coasts is ‘highly unlikely’ Vincent Clerc instead expects the ILA and maritime employers to extend the current deal while talks continue rather than shutting down terminals when the contract expires at the end of September. Maersk CEO says port strike along US East, Gulf coasts is […]

Port of Virginia launches expanded rail yard at Norfolk International Terminals The $83 million project, which took two years to complete, adds another 455,000 TEUs of annual on-dock rail capacity at NIT. Port of Virginia launches expanded rail yard at Norfolk International Terminals Journal of Commerce

STG shifting from drayage carrier to broker after New Jersey legal challenge The intermodal logistics provider said it will change its business model as state and federal laws make it more difficult to classify drivers as independent contractors. STG shifting from drayage carrier to broker after New Jersey legal challenge Journal of Commerce

Transload demand from Southern California expected to pop in Q3: analyst The percentage of import TEUs arriving in Los Angeles and Long Beach and departing as domestic transloads should rise significantly in the third quarter, analyst Larry Gross says. Transload demand from Southern California expected to pop in Q3: analyst Journal of Commerce

US truckload carriers cutting deeper into fleets, capacity Large truckload providers have been jettisoning trucks at an historic pace in an imbalanced market, but they are making more efficient use of their remaining trucks. US truckload carriers cutting deeper into fleets, capacity Journal of Commerce

Bangladesh’s supply chains grind to a halt amid political upheaval The crisis has surfaced on the heels of recent capacity expansions from major liners, particularly Maersk and Mediterranean Shipping Co., to tap booming apparel exports and associated input material inflows from China. Bangladesh’s supply chains grind to a halt amid political upheaval Journal of Commerce

ILA seeking huge wage hike from maritime employers: sources The disclosure of a 76% wage increase proposal comes as ILA sent a 60-day notice to the United States Maritime Alliance (USMX) warning that the union is prepared to strike if a new labor deal is not signed before the current contract’s Sept. 30 expiration. ILA […]

Shifting trans-Pac dynamics push rate spread to almost two-year high The differential between East and West coast spot rates is now more than $3,000 as retailers rush to ship their imports from Asia ahead of a possible strike by ILA dockworkers when their contract expires on Sept. 30. Shifting trans-Pac dynamics push rate spread to […]