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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 westbound trade lane before a six-day impasse at the Suez Canal in March disrupted normal service schedu...