By Ian Putzger, Americas correspondent 24/09/2020, The Loadstar US importers and domestic shippers are facing more pain from increasing road and rail freight rates. The surge of imports that has flooded US west coast container gateways has so far failed to return intermodal volumes to last year’s levels, but rates have soared. On US roads, the picture […]
Category Archives: News & Events
3PLs frustrated by ocean service contracted rate upheaval
NCBFAA asks Federal Maritime Commission to investigate ‘named account rate’ practice Chris Gillis Tuesday, September 15, 20200 976 2 minutes read, Freightwaves For many U.S. freight forwarders and consolidators moving freight during the coronavirus pandemic, it is as if the container-shipping rates of their initially contracted transport arrangements with the ocean carriers are no longer valid. The National […]
Shippers’ ocean freight budgets ‘about to explode’ as rates hit new highs
By Mike Wackett 28/08/2020 Ocean freight budgets for shipments from Asia to the US and Europe are going through the roof as carriers prepare yet another round of freight rate increases. Today’s Shanghai Containerized Freight Index (SCFI) recorded further gains for the transpacific and Asia-Europe tradelanes, taking its combined reading up another 7% for the week, to […]
Demand driving transpacific prices sky high, with Asia-Europe benefiting too
By Gavin van Marle 14/08/2020 Container spot freight rates on the transpacific trades leapt this week, with prices from Asia to US west coast ports sailing way above $3,000 per feu – and looking set to jump higher. Today’s Shanghai Containerised Freight Index (SCFI) reading – prices quoted for next week – was $3,406 per feu, an […]
Trans-Pacific ‘going crazy’ as demand defies pandemic pessimists
Rates now top $3,000 per 40-footer — and they’re still rising Greg Miller, Senior EditorFollow on TwitterWednesday, August 12, 20200 China-U.S. West Coast container rates continue their astonishing climb. Not because of too little vessel supply, but because of too much import demand. U.S. import demand that is not surging despite of coronavirus, but because of it. “The trans-Pacific […]
Airfreight rates expected to shoot up by September
Eric Kulisch, Air Cargo Editor Sunday, July 26, 2020 Stability in the airfreight market may be short-lived, with outbound China rates rising this month and big high-tech product launches poised to soak up cargo aircraft in several weeks. That could pinch some shippers that currently view air transport as a refuge from unreliable and expensive […]
European exporters still up against it, but equipment shortages are easing
Mike Wackett 14/07/2020 Blank sailings, escalating freight rates and a shortage of equipment continue to hobble European exporters. Shippers to Asia and the US are facing lengthy delays and uncertainty for container bookings as the knock-on effect of short-notice carrier blanking programmes plays havoc with supply chains. As a consequence, rates have soared, particularly to Asia […]
Crew crisis is on verge of becoming global trade crisis
Greg Miller, Senior Editor Tuesday, June 16, 2020 Watching the growing threat to global trade from the stranded-crew crisis is like watching a train wreck in slow motion — and the governments of the world still don’t see it coming. A June 15 deadline was set by the union representing seafarers, the International Transport Workers’ […]
U.S. to Halt Chinese Airlines’ Flight Access as Relations Fray
Alan Levin and Ryan Beene The Trump administration on Wednesday issued an order suspending passenger flights from China-based airlines, saying it was retaliation for Beijing barring American carriers from re-entering that market, in a continued escalation of tensions between the two nations. The order goes into effect June 16 but President Donald Trump can act […]
Lufthansa to get €9bn bailout, but state wants 20% and seats on the board
By Alex Lennane 22/05/2020 It might not be precisely what Lufthansa was looking for, but the carrier appears to have reached a deal with the German government for a €9bn bailout package. Expected to be signed today, the deal will result in the government taking a 20% stake in the carrier. It also means it […]
