Freight Forwarders Should Know About The Recovering of Vietnam Exports!
Every freight forwarder should know about Vietnam’s latest freight market. According to the Ministry of Trade of Vietnam, the export is estimated to increase by 10% to USD 600 billion in the fourth quarter.
Will Boosting Domestic Intermodal Transportation Alleviate Exorbitant Rates?
There are two segments of intermodal containers, which are domestic and international. The former is mostly operated by domestic providers, such as Union Pacific (NYSE: UNP) and JB Hunt (NASDAQ: JBHT), while the latter is the one you heard about being in shortage and largely owned by container lines like Maersk.
Port of Oakland on the Rebound! ONE Is About to Resume Service.
In recent years, the port has taken most of its capacity to handle chilled and frozen perishables and also benefited from being the destination with the transpacific route, leading to shorter transit times to Asian markets.
Amazon, Walmart and Coca-Cola Are Seeking Alternatives To Maintain the Flow Of Merchandise From Asia.
In light of the prospect that the shipping disruption and the shortage of containers and vessels will carry on throughout the holiday season, and probably into 2022, several American retailing companies, such as Amazon, Walmart and Coca-Cola, are intending to find out the alternative to retain their flow of merchandise from Asia, especially for China.
Increase of up to $10,000! MSC Has Announced Price Changes!
After CMA CGM and Hapag-Llyod’s announcements, it was expected that the other container lines would halt the escalating freight rates, and rates could return to pre-pandemic levels. However, MSC chooses to raise its prices, defying all expectations and potentially exacerbating the market’s instability.
Top 10! World’s Largest Ports Ranking 2020 vs. 2017
According to the data from the World Shipping Council, Shanghai has dominated the top since 2017, while Singapore chases after it. Overall, the top 10 handle over 254 million TEU in 2020, increasing the total capacity by ~10% compared to 2017.
Will the U.S. Benefit From the Trade War?
U.S.-China trade tensions have escalated under former President Donald Trump, with both sides raising higher tariffs on each other’s goods worth billions of dollars, which has caused negative impacts on these two major economies’ international trades.
US Fourth Largest Port Sees Congestion!
According to the live map from MarineTraffic, the number of container ships remaining at anchorage out of the Georgia container port of Savannah increased to ~20 as of Sep. 1, 11 more than the median number over the last 5 months.
The Sweep of Hurricane Ida Paralyzes New Orleans Port!
The “strongest storm” has done serious damage to the Port of New Orleans, and caused a power outage in the region. The main energy supplier along the US Gulf Coast said that Hurricane Ida has made more than 2,000 miles of transmission lines out of service.
Shipping Giants Surrender Long-Held Dominating Position!
The international shipping market share of non-alliance services on the transpacific is higher than both THE Alliance and 2M, which is the greatest change in the international shipping market that has taken place in recent years.