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Third GRI in a month pushes Asia-US container rates higher

[caption caption="Spot rates to the West Coast are up 69 percent year over year. Photo credit: Shutterstock.com"][/caption]Trans-Pacific container lines successfully pushed up eastbound container spot rates with the third general rate increase in a month.  The cost to ship an FEU from Shanghai to the West Coast surged 8.5 percent, to...

Asia air cargo exports show signs of recovery

[caption caption="Global demand for PPE is slowing, but there are encouraging signs of rising general air cargo volume. Photo credit: Shutterstock"][/caption]Rising general air cargo volume and high load factors in June are being reported by analysts on the Asia-Europe and trans-Pacific trades, where rates continue to soften as the urgent...

JOC Uncharted: Digitalization will reduce LTL costs, improve service

[caption caption="Pitt Ohio says more shippers are interested in digitizing their supply chains, eliminating the exchange of paperwork at docks, because of the COVID-19 pandemic. Photo credit: Ari Ashe."][/caption]Less-than-truckload (LTL) shippers concerned with costs and customer service should examine whether they are fully integrating technology to eliminate inefficiencies and extra...

Asia-Europe container spot rate rally extends into July

[caption caption="Rising volume and limited capacity is keeping spot rates elevated on the Asia-Europe trade. Photo credit: Shutterstock"][/caption]Spot rates on the Asia-Europe trade are tracking well above last year’s levels as carriers continue to keep capacity in line with rising demand from a reopening Europe.The China-North Europe rate rose 2...

CMA CGM helps expand clean-fuel initiative in Europe

[caption caption="CMA CGM is one of 11 international groups that have joined forces in the drive to create a more sustainable transport and logistics industry. Photo credit: CMA CGM."][/caption]Eleven global companies representing the shipping, retail, technology, banking, and energy sectors this week formed a coalition to accelerate the search for...

US lifeline to YRC Worldwide calms LTL market

[caption caption="CEO Darren Hawkins said the $700 million loan will allow YRC Worldwide to return its focus to the firm. Photo credit: Shutterstock.com."][/caption]The news that YRC Worldwide secured a $700 million loan from the US government sent shockwaves across the trucking and logistics industry. “I’m stunned,” was the comment heard from...

US trucking regains 44 percent of jobs lost to pandemic

[caption caption="Strong demand in June, especially for retail products, put more truckers back on the road. Photo credit: Shutterstock.com."][/caption]US trucking employment surged by 23,300 jobs in June, before seasonal adjustment of the job numbers, according to the US Bureau of Labor Statistics (BLS). The payroll expansion points to growing demand...

APMT rolls out API container availability alerts

[caption caption="Container availability and gate information exchange processes are being digitized across a number of terminals in the Southern California ports. Photo credit: Shutterstock.com."][/caption]Global container terminal operator APM Terminals has begun offering importers and their drayage providers access to container availability and vessel arrival and departure status information via application...

JOC Uncharted: More consolidation likely in MPV/HL sector, says BBC’s Ulrichs

[caption caption="The BBC Kibo in Singapore. Photo credit: BBC Chartering."][/caption]There are few members of the multipurpose/heavy-lift (MPV/HL) sector capable of being true global operators, BBC Chartering CEO Ulrich Ulrichs told JOC Uncharted.The MPV/HL sector “is quite divided and there are still too many players,” Ulrichs said in an interview this...

Montreal longshore workers, employers agree to talks as strike begins

[caption caption="The Racine and Cast terminals, operated by the Montreal Gateway Terminals Partnership (MGTP), are served by CMA CGM, Cosco Shipping/OOCL, Hapag-Lloyd, and Maersk Line. Photo credit: Shutterstock.com."][/caption]Correction: An earlier version of this story incorrectly stated the strike was set to last until 7 a.m. JOC apologizes for the error. Montreal...

Transplace offers benchmarking for non-TMS customers

[caption caption="Managed transportation providers generally base their services on the use of their own proprietary software in an outsourced arrangement. Photo credit: Shutterstock.com."][/caption]Transplace shipper customers can benchmark and analyze their rates and services against $11 billion worth of freight shipments thanks to new capabilities the Dallas-based third-party logistics provider (3PL)...

MPV charter rates end seven-month slide

[caption caption="Cuts to the oil and gas sector threaten the project cargo market even as rates stabilize. Photo credit: Shutterstock.com."][/caption]The Toepfer Multipurpose Index will rise 0.2 percent in July, a small gain but one that ends a seven-month slide, possibly signaling an end to the COVID-19 rate slump. However, cutbacks...

Acquisitions fuel fast-growing Chicago dray operator

[caption caption="In 2019, Mark-It Express Logistics ranked 48th on the Crain’s Chicago Business’s list of the 50 fastest-growing companies in the Chicago area with $37.6 million in annual revenue and a five-year growth rate of 181.4 percent. Photo credit: Shutterstock.com."][/caption]One of the fastest-growing intermodal drayage companies in the Chicago area,...

Rising Asia-Europe volumes to test carrier capacity management

[caption caption="Carriers in Europe say advance bookings do not suggest “right now” that cargo would need to be rolled in Asia in July. Photo credit: Shutterstock.com."][/caption]Forwarders are reporting tightening space on the Asia-Europe trade as blank sailings have left little room to accommodate rising import demand from Europe’s reopened economies.Carriers...

US loans YRC Worldwide $700 million, citing ‘national security’

[caption caption="YRC will use a portion of the US loan to pay overdue Teamster health and benefit obligations. Photo credit: Ari Ashe."][/caption]YRC Worldwide will receive a $700 million COVID-19 relief loan from the US government, allowing it to avoid default on Teamster pension and benefits obligations that would have threatened...

JOC Uncharted: Episode 7

The seventh episode of JOC Uncharted, available at 11 a.m. Eastern, features a one-on-one conversation with BBC Chartering CEO Ulrich Ulrichs, during which he discusses working with cargo owners as schedules are disrupted, handling quarantine restrictions, and finding ways to implement crew changes.  Following that, C. Thomas Barnes, president of project44;...

MSC unveils online freight booking tool

[caption caption="Customers of MSC can obtain quotes and book their spot containers online on two of the major trade lanes. Photo credit: Shutterstock.com."][/caption]Mediterranean Shipping Co. on Wednesday unveiled its instant quoting and booking platform to freight buyers, joining the likes of CMA CGM, Evergreen Line, Hapag-Lloyd, and Maersk in allowing cargo owners...

Longshore workers set to strike at two Montreal marine terminals

[caption caption="A container vessel nears the Port of Montreal via the Saint Lawrence River. Photo credit: Shutterstock.com."][/caption]Montreal longshore workers will strike for 40 hours at two marine terminals starting Thursday afternoon, a move employers say came as a surprise and now forces them to “consider possible options” other than focusing...

LA-LB gate fees to rise 4.2 percent Aug. 1

[caption caption="The traffic mitigation fee effective Aug. 1 will be $33.47 per TEU and $66.94 per FEU on both day and night shifts in LA-LB. Photo credit: Shutterstock.com."][/caption]Terminal operators will increase the traffic mitigation fee (TMF) used to fund night and weekend gates at the Los Angeles-Long Beach port complex...

Trans-Pacific carriers push third GRI in a month

[caption caption="July 1 general rate increases of $250 to $800 per FEU will apply to most shipments in excess of importers’ minimum volume commitments. Photo credit: Shutterstock.com."][/caption]With signs of US imports from Asia recovering, trans-Pacific carriers on Wednesday will impose a highly unusual third general rate increase (GRI) in one...