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Ports up and down the west coast are continuing to set cargo records following the COVID-19 pandemic and months of congestion. Just last week the Port of Los Angeles announced that it moved more than one million container units of cargo in May. This was the first time a Western hemisphere port has surpassed that […]

Just this week, shippers from Asia to Europe saw a further spike in container spot rates, especially for Mediterranean ports. In addition, carriers are said to be preparing big increases in short-term rates as cargo-rolling to become normalized. On the transpacific route, carriers are booked solid well into June, with this week’s spot rate increases

According to recent data, The Port of Oakland has seen record levels in the first quarter of 2021 as recent trade surge has pushed both imports and exports to record-breaking levels. The port saw over 630,000 20-foot containers between January and March, topping the port’s previous record set in 2019. Officials said the surge reflects

Despite recent price surges, a group of major oil producers has agreed to extend production cuts for another month, choosing to limit supply until the global economic recovery is firmly established. The Organization of the Petroleum Exporting Countries (OPEC) and allied producers said on Thursday that they would largely roll over production cuts during the

Shipping experts now believe that major port and landside congestion at US west coast ports could last until the summer peak season, according to recent data. Ocean Network Express (ONE) CEO Jeremy Nixon and Hapag-Lloyd CEO Rolf Habben Jansen both warned of a “difficult” period leading up to the start of the traditional peak season.

This week alone, more than 40 cargo ships were lined up off the coast of Los Angeles and Long Beach in a new sign of unyielding backlogs that are hampering U.S. importers at the country\’s main trade gateways. The new shipping surge, that began in late summer, has only rose during the holiday season and

Even though the pandemic is raging on, shocks to supply chains are engulfing a wider swath of the global economy. It is predicted that auto manufacturing will take the hardest hit just months after toiler paper and work-from-home gear were hot commodities. Manufacturers like Volkswagen and Honda were forced to reduce output at their factories

The unpredictable levels of containerized cargo movement that have driven freight rates sky-high will not likely end soon, according to a top Maersk executive. The carrier expects high levels of capacity to continue into February, reducing the number of expected blanked sailings. All of the major trunk routes, Transatlantic, Transpacific and Asia-Europe, only two percent

The tanker market entered 2021 with renewed optimism, despite estimates of the opposite following 2020 data. In VLCC market’s latest report, there was hope in the air for the first full trading week of the New Year, with added volumes from OPEC+ and the perception that we were behind the curve on the fixture count.”

According to Copenhagen-based Sea-Intelligence, average global carrier schedule reliability across 34 trade lines fell to just 50.1% last month. November 2020 is the worst global score recorded since 2011. The second- and third-worst scores were recorded in September and October of this year. Compared to previous data, carrier services were far more reliable, averaging 75.5%