News
Evergreen, HMM latest Asia-based carriers to report Q1 profit surge
Evergreen Marine’s first-quarter net profit of $537 million was among the highest quarterly profit posted by container lines in the post-COVID 19 era, according to Alphaliner.
US intermodal savings showed little movement in first quarter
The average cost savings for a shipper choosing intermodal rail over truckload was about 26% in the first quarter, according to the latest Journal of Commerce Intermodal Savings Index.
NY-NJ port swaps assets with NYC to grow Brooklyn, Staten Island terminals
The Port Authority of New York and New Jersey will take full control of the Howland Hook marine terminal in Staten Island while New York City will take over Brooklyn’s Red Hook terminal.
Hapag-Lloyd returns to profit in Q1, but baffled by current rate spike
The carrier’s CEO said buyers could be pulling orders forward because of concerns over global geopolitical uncertainties or that rates could be driven by a more general restocking to replenish inventories.
US Senate confirms existing terms for FMC’s Maffei, Dye
During the tenure of the two members, the FMC has ramped up its oversight of the container shipping industry following widespread strains during the pandemic-era container surge.
XPO using former Yellow facilities to gain share in growth markets
Like many of its LTL competitors, XPO is using former Yellow terminals to build density in major freight markets such as Baltimore-Washington, D.C.
Post-pandemic inventory hangover hindering US alcohol imports
After a two-year binge that left inventories bloated, demand for imported wine, beer and spirits dried up in 2023.
Maersk’s new Rotterdam cross-dock speeds integrator offerings
Containers offloaded from ships calling at APM Terminal’s Maasvlakte II terminal can be palletized and in trucks “within hours,” thanks to a new cross-dock warehouse, according to the Maersk’s new head of northern Europe.
Gap between US LTL, truckload pricing growing
Average US truckload pricing has hardly risen since last June, while less-than-truckload costs continue to climb due to tighter capacity.
Trans-Pacific carriers slashing NVO allocations as spot rates spike
Trans-Pacific carriers are restricting forwarders’ access to fixed “named-account” rates and pushing bookings to the much higher spot market pricing.
Port NOLA CEO stepping down amid major expansion
Brandy Christian led the Port of New Orleans during the acquisition of its on-dock rail network and spearheaded the development of a new terminal that will allow the port to service ultra-large ships.
Failed electrical breaker triggered Dali crash: NTSB
A preliminary federal investigation found the use of a different breaker configuration than had been previously in use onboard the Dali that led to a series of power blackouts on its outbound voyage.
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.
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.
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.