Page 4 - Container Rate News Today

The Port of Los Angeles will expand its hours of operation on nights and weekends to reduce port congestion that has contributed to consumer price inflation, the Biden administration said Oct. 13. Major retailers Walmart, Target, and The Home Depot, as well as logistics firms UPS and FedEx, have committed to utilizing the off-peak hours, ...

North Asia-to-US West Coast all-inclusive rates continued to edge down in the week ended Oct.8 as additional ship charterers entered the market, while Southeast Asia-to-US premiums rebounded. “Some carriers are offering lower rates to the US West Coast, but those could go back up in November,” a US freight forwarder said. “Some alliance carriers are ...

US container port infrastructure is facing heavy strain in August as the country is expected to receive a record volume of goods cargoes amid restocking by retailers ahead of year-end holidays, the National Retail Federation said Aug. 9. The US import volume for August is forecast at 2.37 million twenty-foot equivalent units, the highest monthly ...

Shippers have bid trans-Pacific eastbound spot container shipping rates above $15,000/FEU from Asia to the US East Coast as they become increasingly worried about moving cargoes out of rapidly filling Asian warehouses and factories. One major US retailer offered to pay $15,000/FEU for each of 100 containers loading in June to any freight forwarder that ...

Container Premiums: Trans-Atlantic shippers hit with new surcharges Premium service fees paid on top of base container shipping rates have emerged as a prerequisite for some spot market booking from North Europe to the US East Coast for the first time amid a supply crunch of space and equipment at European ports. While premium surcharges have become a common requirement for carriers to take spot bookings in the trans-Pacific market, supply and demand was more balanced in the trans-Atlantic west...

Asia-to-Europe container rates hit fresh all-time highs on delays Container rates from Asia to Europe have hit fresh all-time highs as logistical issues continue to constrain the market and demand remains firm through to July, limiting availability on ships. Platts Container Rate 1 – North Asia-to-North Continent – rose to $12,000/FEU on May 17, up $1,500/FEU from the week earlier. This increase reflected a near ten-fold increase from the $1,300/FEU assessed on this route a year earlier. Th...

Ports of Los Angeles, Oakland set April container volume records The ports of Los Angeles and Oakland both had their busiest April ever for container throughput as the US West Coast remained inundated by imports from Asia, the ports said May 13. The Port of Los Angeles was making progress in reducing the queue of ships at anchor in San Pedro Bay, handling 946,966 twenty-foot equivalent units (TEUs) in April, up by 37.2% year on year and its fourth highest ever monthly volume. Total throughput a...

Container liner Hapag-Lloyd expects 2021 growth to continue on firm demand German container liner Hapag-Lloyd is expecting 2021 year-on-year growth to far outperform the levels seen in 2020 as demand continues in the container market around the world. With strong cargo volumes dominating the market until this point in 2021, this is expected to continue well into the middle of the year, although the company expects there to be a “gradual normalisation of the development in the second half of t...

Port of New York sets new monthly record for container volume in March The Port of New York and New Jersey posted its highest-ever monthly container volume in March as imports surged while also drawing cargoes away from congested US West Coast ports, the Port Authority said May 5. Total throughput was 789,776 twenty-foot equivalent units in March, beating the previous monthly record from October 2020 by 34,339 TEUs. The March total was a 40.8% increase from the same month last year when the cor...

Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now Total throughput was 789,776 twenty-foot equivalent units in March, beating the previous monthly record from October 2020 by 34,339 TEUs. The March total was a 40.8% increase from the same month last year when the coronavirus outbreak largely brought global trade to a halt, underlining the staggering reversal in demand for space on containerships over the past year. It was also wor...