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☆ US and China are buying into Mexico’s manufacturing moment
▼ + stars: | 2024-04-28 | by ( John Towfighi | ) edition.cnn.com time to read: +9 min

CNN —As US supply chains decouple from China, Mexico’s manufacturing sector is emerging as a winner. Ramos said Mexico and China have been competing for the US manufacturing market for years, but amid a shifting US-China relationship, Mexico looks poised to pull ahead. Those exports were driven by manufacturing, which comprises 40% of Mexico’s economy, according to Morgan Stanley. Meanwhile, Chinese exports to the US were down 20% in 2023, compared to 2022. Analysts at Morgan Stanley see the value of Mexico’s exports to the United States growing from $455 billion to about $609 billion in the next five years.

Persons: That’s, nearshoring, Alberto Ramos, Goldman Sachs, Ramos, Morgan Stanley, Katherine Tai, CNN’s Julia Chatterley, Tai, United States Jose Luis Gonzalez, Xeneta, Peter Sand, Jose Enrique Sevilla, John Raines, Goldman’s Ramos, Biden, Raquel Buenrostro, —, Joe Biden, Donald Trump, Trump, ”, Global’s, Raines, Christoffer Enemaerke, “, Tesla, Elon Musk, Julio Cesar Aguilar, BYD doesn’t, RBC’s Enemaerke, Michael Nam Organizations: CNN, Manufacturing, Commerce Department, US Trade, General Motors, Ford, Reuters, Shipping, Container Trade, Xeneta, Moody’s Analytics, P Global Market Intelligence, steelworkers, “, Global’s Sevilla, Macip, RBC, Getty, BYD, ” Sevilla, Monterrey Locations: China, Mexico, Canada, North America, US, Ciudad Juarez, United States, Pittsburgh, Mexican, Monterrey, ”, Nuevo Leon, Asia

☆ China may have found a new way to skirt US import tariffs: Go through Mexico instead
▼ + stars: | 2024-03-15 | by ( Huileng Tan | ) www.businessinsider.com time to read: +2 min

China's exports to Mexico surged nearly 60% in January year-over-year, according to Xeneta. Mexico became America's top trade partner last year, overtaking China amid geopolitical tensions. The strong growth in trade between the two countries followed a 35% on-year jump in container volumes from China to Mexico. In 2022, China's exports to Mexico grew just 3.5% on-year. AdvertisementLast year, Mexico overtook China as America's top trade partner, according to data from the US Commerce Department.

Persons: —, Peter Sand, Donald Trump Organizations: Service, Container Trades Statistics, Business, China, Trump, US Commerce Department Locations: Mexico, China

☆ Fatal Houthi rebel attack may be a ‘red line’ in Red Sea shipping crisis
▼ + stars: | 2024-03-07 | by ( Hanna Ziady | ) edition.cnn.com time to read: +6 min

The deadly strike marks a significant escalation of the Houthi attacks on ships in the Red Sea and and comes despite a US-led naval coalition to protect the crucial waterway. Fewer ships appear to be transiting through the Red Sea and adjoining Suez Canal after the latest attack, according to maritime risks analytics company Windward. According to Windward, the number of bulk carriers anchoring outside ports to the north and south of the Suez Canal surged 225% Wednesday compared with the previous day. Windward data shows that last month the number of bulk carriers in the Red Sea was already at its lowest level in two years. Just 30% of the usual shipping capacity — including container ships, bulk carriers, car carriers, and tankers carrying oil and liquefied natural gas — is still passing through the Red Sea and Suez Canal, according to Sand.

Persons: Ami Daniel, ”, Peter Sand, “, Hapag Lloyd —, Christine Lagarde, CMA CGM, Stephen Cotton, Cotton, David Ashmore, Reed Smith, John Stawpert, ” Maisie Linford Organizations: London CNN, Liberian, ” Windward, CNN, Maersk, MSC, European Central Bank, Drewry, CMA, International Transport Workers ’ Federation, International Chamber of Shipping Locations: Red Sea, Iran, Suez, Africa, Windward, Red, Norway, Sand, “, London, Good, Gulf, Aden and Red, Aden

SAVANNAH, Ga. (AP) — The Georgia Ports Authority said Tuesday that it moved a record number of automobiles across its docks in Brunswick last year, while goods shipped to Savannah in cargo containers declined 16%. The news comes as port authority CEO Griff Lynch has set a goal of Brunswick surpassing the Port of Baltimore as the No. We've been creating capacity in Brunswick,” Lynch said in an interview, adding that more growth is possible in 2024. Savannah handled 4.9 million container units of imports and exports last year, down 16% compared with calendar 2022. “I fully believe that when we look at February and March and April, we should see some positive numbers year-over-year,” Lynch said.

Persons: Griff Lynch, We've, ” Lynch, Lynch, “, ” Organizations: Georgia Ports Authority, Brunswick, Port, Auto, Hyundai, Kia, U.S Locations: SAVANNAH, Ga, Georgia, Brunswick, Savannah, Port, Port of Baltimore, Southern, U.S, Atlanta, West, New York, Los Angeles, Long Beach , California

☆ 'The shooting has to stop': World's biggest shipping company pleads with Congress to help end Houthi Red Sea chaos
▼ + stars: | 2024-01-30 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +6 min

Ralby stressed the crisis in the Red Sea is not just a U.S. problem, but recent attacks by the U.S. military have led to greater targeting of its vessels. After those attacks, Maersk announced it would no longer be transiting the Red Sea. MSC announced on December 17 that it would divert its services that would typically transit the Red Sea and the Suez Canal around the Cape of Good Hope. Sailing around the Cape of Good Hope to avoid the Red Sea adds one to two weeks to a one-way shipping journey relative to the Red Sea and Suez Canal. Rising freight costs were a big component of inflation during Covid and the Red Sea crisis has renewed fears that another bout of supply chain-triggered inflation could occur.

Persons: Ralby, Ian Ralby, Darr, Charles, Bud, Salud Carbajal, Biden, Hapag Lloyd, Bab, Good Hope, Jon Gold, Phillips, Ralph Lauren, Levi Strauss, Gold Organizations: U.S, Mediterranean Shipping Company, U.S . Navy, Coast Guard, Maritime Transportation, MSC, Senate Foreign Relations Committee, Maersk, Maersk Detroit, Maersk Chesapeake, Navy, Intelligence, Suzuki, Volvo, Michelin, Ikea, National Retail Federation, Bank of America, Van Heusen Corporation, Birkenstock, Capri Holdings, Nike, Corp Locations: Suez, Ismailia, Egypt, Yemen, U.S, Iran, Gulf, Aden, Maersk, Good, Europe's, Asia, Europe, Vietnam

COPENHAGEN, Denmark (AP) — Maersk, the world’s biggest shipping company, said Friday that it plans to eliminate 10,000 jobs due to what it described as a challenging environment for container trade and logistics services. The company said the move would result in savings of $600 million in 2024. The report cited “challenging market conditions resulting in substantially lower freight rates compared to the abnormally high rates in 2022.”A.P. Moller-Maersk CEO Vincent Clerc said the company will continue to streamline its organization and operations. The company said it now expected annual global container volume growth in the range of -2% to -0.5% compared to -4% to -1% previously.

Persons: — Maersk, ” A.P, Moller, Vincent Clerc, ” Clerc, “ Organizations: Maersk Locations: COPENHAGEN, Denmark, Copenhagen

[1/2] Containers are seen on the Maersk's Triple-E giant container ship Majestic Maersk, one of the world's largest container ships, next to cranes at the APM Terminals in the port of Algeciras, Spain January 20, 2023. REUTERS/Jon Nazca/File photo Acquire Licensing RightsSummaryCompanies Signals sharp downturn in demandTo review share buyback program for 2024Says industry facing overcapacity and lower prices, demandShares down 17.5% to lowest in three yearsCOPENHAGEN, Nov 3 (Reuters) - Shipping group A.P. Moller-Maersk (MAERSKb.CO), reported a steep drop in third-quarter profit and revenue on Friday and said it would cut at least 10,000 jobs in the face of overcapacity, rising costs and weaker prices, sending its shares tumbling. The industry invested heavily in new container ships during and after the pandemic to meet strong demand and benefit from record freight rates. A large number of new ships entered the market since the summer with no signs of idling or scrapping, said Clerc.

Persons: Jon Nazca, Moller, Vincent Clerc, Clerc, Morten Holm Enggaard, Maersk, Jacob Gronholt, Pedersen, Louise Rasmussen, Johannes Birkebaek, Terje Solsvik, Miral Fahmy, Elaine Hardcastle Organizations: Triple, Majestic, APM, REUTERS, Shipping, Maersk, Walmart, Nike, Jyske Bank, Revenues, Thomson Locations: Algeciras, Spain, COPENHAGEN, North America, Copenhagen

REUTERS/Jon Nazca/File photo Acquire Licensing RightsSummaryCompanies Signals sharp downturn in demandTo review share buyback program for 2024Says industry facing overcapacity and lower prices, demandShares down more than 10% to lowest in three yearsCOPENHAGEN, Nov 3 (Reuters) - Shipping group A.P. Moller-Maersk (MAERSKb.CO), reported a steep drop in third-quarter profit and revenue on Friday and said it would cut at least 10,000 jobs in the face of overcapacity, rising costs and weaker prices. Shares in the Copenhagen-based group slid 11.1% by 0904 GMT, to their lowest level in three years. The group already warned in August of a steeper decline in global demand for shipping containers by sea this year. Reporting by Jacob Gronholt-Pedersen and Louise Rasmussen, editing by Terje Solsvik, Miral Fahmy, Elaine HardcastleOur Standards: The Thomson Reuters Trust Principles.

Persons: Jon Nazca, Moller, Vincent Clerc, Morten Holm Enggaard, Maersk, Jacob Gronholt, Pedersen, Louise Rasmussen, Terje Solsvik, Miral Fahmy, Elaine Hardcastle Organizations: Triple, Majestic, APM, REUTERS, Shipping, Maersk, Walmart, Nike, Jyske Bank, Thomson Locations: Algeciras, Spain, COPENHAGEN, Copenhagen

Lynch said his agency is seeking congressional authorization to study another round of deepening for the Savannah River shipping channel. The Army Corps of Engineers last year finished deepening the waterway by 5 feet (1.5 meters), a $973 million project that took 25 years to study and execute. And it’s not just for the Georgia Ports Authority. Buddy Carter, a Republican whose district includes Savannah's port, said they support studying another harbor expansion. “This port affects every county in Georgia,” said Georgia House Speaker Jon Burns, a Republican who attended the speech.

Persons: Griff Lynch, Lynch, We’ve, They're, Eugene Talmage, “, Sen, Raphael Warnock, Buddy Carter, ”, Jon Burns, Chris DeScherer, ” DeScherer Organizations: Georgia Ports Authority, Army Corps, Engineers, U.S ., Port, Georgia Department of Transportation, Army Corps of Engineers, Water Resources, Democrat, U.S . Rep, Republican, Southern Environmental Law, Wildlife Locations: SAVANNAH, Ga, Port, Savannah, U.S, Georgia, “ State, India, Thailand, Vietnam, U.S . East Coast, Panama, East Coast, Suez, Savannah's

Chartbook: Global container freightIn the United States, the volume of container trade handled through the nine largest ports in July was the lowest for the time of year since 2017. The volume of container freight hauled on the major railroads in June was the lowest for the time of year since 2012. Container trade through the port of Singapore, a major transshipment point for the region, has climbed to record levels. Rising share prices would be consistent with an improving outlook for global trade, but the evidence for it so far is limited. Related columns:- Global container freight stuck in doldrums (June 23, 2023)- Global freight shows signs of bottoming out (April 27, 2023)John Kemp is a Reuters market analyst.

Persons: Mike Segar, pare, Korea’s, John Kemp Organizations: REUTERS, Manufacturers, Economic, Heathrow, China’s, Global, Thomson, Reuters Locations: Port Elizabeth , New Jersey, U.S, North America, Europe, Netherlands, United States, Japan, Narita, United Kingdom, Asia, Singapore, doldrums

☆ Column: China's shrewd grab for green energy recycling dominance
▼ + stars: | 2023-08-18 | by ( Gavin Maguire | Thomson Reuters | Gavin Maguire Is The Global Energy Transition Columnist. He Was Previously Asia Commodities | ) www.reuters.com time to read: +5 min

Wind turbines and solar panels are seen at a wind and solar energy storage and transmission power station from State Grid Corporation of China, in Zhangjiakou of Hebei province, China, March 18, 2016. GLOBAL REACH WITH BACKHAUL POTENTIALChina's recyclers also have strong international supply lines thanks to the country's vast export-oriented manufacturing sector and resulting dominance in global shipping container trade. ECO-FRIENDLY ECOSYSTEMSChina's plan to develop a large scale recycling sector for the renewables industry is in keeping with the country's practice of developing interdependent ecosystems around key industries. The country aims to develop similar strongholds in auto and electronics manufacturing, and may now extend that framework to the renewables energy sector, which Beijing has identified as a key industry for the remainder of this century. For recycling firms based elsewhere that had been planning to scale up their handling of older green energy equipment, the prospect of a government-backed competitor in China may be a cause for concern.

Persons: Jason Lee, recyclers, China's, Gavin Maguire, Jamie Freed Organizations: Grid Corporation of, REUTERS, Reuters, Thomson Locations: Grid Corporation of China, Zhangjiakou, Hebei province, China, LITTLETON , Colorado, United States, Asia, Beijing

NEW YORK/LONDON, Aug 10 (Reuters) - Lean times faced by many U.S. and European companies may last longer than expected as they try to sell off their bulging inventories in an economic climate where demand is stalling. Full-to-bursting warehouses means fewer orders for manufacturers, which translates into lower levels of business activity and, ultimately, weaker growth. Now, global demand is falling as borrowing costs have risen, so companies have started running down stocks. Maersk controls about one-sixth of global container trade, transporting goods for a host of major retailers and consumer goods companies. Refinitiv I/B/E/S data shows U.S. and European companies are expected to report their worst quarterly results in years.

Persons: Vincent Clerc, Hugo Boss, Moller, Stanley Black, Decker, destocking, Levi Strauss, Rajiv Sharma, Arun Sundaram, Guillermo Novo, Cyrus de la Rubia, Siddharth Cavale, David Gaffen, Josephine Mason, Mark John, Jonathan Cable, Helen Reid, Jane Merriman Organizations: U.S, Maersk, Heineken, 3M, . Bureau of Labor Statistics, CFRA Research, Retailers, BASF, London, Rutgers University, Hamburg Commercial Bank, doesn't, Thomson Locations: Ukraine, U.S, United States, Ashland, Hamburg, New York, London

☆ Two measures of global corporate health flash red
▼ + stars: | 2023-08-04 | by ( ) www.reuters.com time to read: +5 min

Moller-Maersk (MAERSKb.CO) lowered its estimate for global container trade this year as companies reduce inventories and higher interest rates and recession risks in Europe and the United States drag on global economic growth. The company, one of the world's biggest container shippers, said it expects container volumes to fall by as much as 4%. Maersk controls about one-sixth of global container trade, transporting goods for retailers and consumer companies such as Walmart (WMT.N), Nike (NKE.N) and Unilever (ULVR.L). The International Monetary Fund last week said that it expects global economic growth to slow this year, led by advanced economies even as food prices have come down and the March banking turmoil has been contained. It expects the global growth to slow to 3% this year and next, from 3.5% last year.

Persons: Jon Nazca, . Moller, Mark Read, Grey, Sophie Lund, Yates, Hargreaves Lansdown, Swift, David Jackson, Josephine Mason, Catherine Evans, Deepa Babington Organizations: Triple, Majestic, REUTERS, Maersk, WPP, Walmart, Nike, Unilever, Reuters, Ogilvy, Apple, Amazon.com Inc, Companies, Global, Nissan, Caterpillar, Monetary Fund, DHL Group, Thomson Locations: Strait, Gibraltar, Algeciras, Spain, U.S, Europe, United States, Beijing, slowdowns, China

☆ Two measures of corporate health flash red
▼ + stars: | 2023-08-04 | by ( ) www.reuters.com time to read: +4 min

Persons: Jon Nazca, . Moller, Mark Read, Grey, Sophie Lund, Yates, Hargreaves Lansdown, Josephine Mason, Catherine Evans Organizations: Triple, Majestic, REUTERS, Maersk, WPP, Walmart, Nike, Unilever, Reuters, Ogilvy, Apple, Amazon.com Inc, Companies, Global, Nissan, Caterpillar, Monetary Fund, DHL Group, Thomson Locations: Strait, Gibraltar, Algeciras, Spain, U.S, Europe, United States, Beijing, slowdowns, China

☆ Canadian West Coast ports strike is over, but it will take weeks for supply chain to recover
▼ + stars: | 2023-07-13 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +7 min

Darryl Dyck | Bloomberg | Getty ImagesThe strike at the Canada's West Coast ports is over, after both the labor union and port ownership accepted a deal presented by federal mediators. ILWU Canada union workers were expected to be back on the job for the 4:30 p.m. Pacific time shift on Thursday, but undoing the damage to the supply chain from close to two weeks of strike will take weeks. While the production ramp down at the ports was seen immediately, the congestion as a result of the 13-day strike will have a lasting effect on ports. The International Longshoremen and Warehouse Union of Canada begin its strike on July 1. The ports strike has already damaged the U.S. supply chain.

Persons: Darryl Dyck, Seamus O'Regan, Omar Alghabra, O'Regan, Prince Rupert, HLS, Eric Byer, Byer, Vancouver and Prince Rupert, Sara Elena, Willie Adams Organizations: Port Metro Vancouver, Bloomberg, Getty, Twitter, Canadian Labor, Warehouse Union of Canada, British Columbia Maritime Employers Association, Vancouver, US Inland Port, U.S ., Carriers, American Association of Railroads, National Association of Chemical Distributors, CNBC, Port, U.S, Products, Canada, Canadian Chamber of Commerce, Railway Association of Canada, MSC Brunella, ILWU U.S, West Coast, Logistics, Customs Locations: Vancouver , British Columbia, Canada, Coast, U.S, British, Vancouver, U.S . West Coast, Asia, Port of Vancouver, West Coast, Africa, United States

☆ Rail trade from Canada plummets due to West Coast ports strike, down nearly 50%
▼ + stars: | 2023-07-12 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +7 min

Year-over-year intermodal Canadian rail was down 46.2% last week as a result of the strike. Weekly rail trade data from the Association of American Railroads shows the devastating impact that Canadian West Coast ports strike is having on freight rail cargo entering the U.S. The U.S. and Canada have a historically strong trade relationship: Each country is the other's top trading partner. The Canadian Chamber of Commerce estimates $605 million in trade moves through one of those two ports daily. The International Longshoremen and Warehouse Union of Canada begin its strike on July 1.

Persons: Vancouver and Prince Rupert, Paul Brashier, Prince Rupert, Brashier, Eric Byer, Byer, Willie Adams, Sara Elena, Medea, Rob Ashton, Steve Lamar Organizations: AAR, Association of American Railroads, Railway Association of Canada, Canadian Chamber of Commerce, Warehouse Union of Canada, British Columbia Maritime Employers Association, ITS Logistics, ITS, U.S ., National Association of Chemical Distributors, Products, CNBC, Hyundai, CMA, Canadian Labor, Labor, Bank of Canada, American Apparel and Footwear Association Locations: West Coast, U.S, Canada, Vancouver, British, United States, U.S . West Coast, East Coast, Western Canada, Asia, Chicago, San Francisco

☆ U.S. apparel trade group calls to recall Canadian Parliament as ports strike enters 10th day
▼ + stars: | 2023-07-10 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +3 min

A picket line at the Neptune Terminal at the Port of Vancouver during a dockworkers strike in Vancouver, British Columbia, Canada, on Wednesday, July 5, 2023. As a workers' strike at West Coast Canadian ports enters its 10th day, trade associations both in the United States and Canada are warning the impact will inflate prices and cause weeks of delays in product arrivals. Approximately $572 million in container trade arrives daily to the U.S. from Canada, according to a breakout of U.S. Census data. From January 2022 to May 2023, total monthly U.S. goods imports from Canada ranged from $31 billion to nearly $41 billion. The Canadian Chamber of Commerce estimates $605 million in trade moves through one of those two ports daily.

Persons: Vancouver and Prince Rupert, Steve Lamar, Lamar, Bruce Rodgers, Seamus O'Regan Organizations: Port, West Coast, Canadian Chamber of Commerce, American Apparel and Footwear Association, CNBC, Warehouse Union, British Columbia Maritime Employers Association, Canadian International Freight Forwarders Association, Logistics Locations: Port of Vancouver, Vancouver , British Columbia, Canada, United States, U.S, Vancouver, British Columbia, British

☆ ILWU Canada West Coast port workers to strike starting July 1 in blow to recovering supply chain
▼ + stars: | 2023-06-28 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +5 min

After a recent landslide vote of union members, the ILWU Canada has served notice it plans to strike at the country's West Coast ports starting on July 1. ILWU Canada said in a statement on Wednesday that its goal is to protect jobs and claims the British Columbia Maritime Employers Association is demanding major concessions. Impact to U.S. economy and tradeThe biggest port to be affected by this strike is the Port of Vancouver, the largest port in Canada. So far, ILWU Canada has declined this binding mediation & arbitration proposal," it said. But logistics managers tell CNBC that news of the Canadian port worker strike is a blow to operations.

Persons: Prince Rupert, ILWU, Rob Ashton, BCMEA, Port of Prince Rupert, Berkshire Hathaway, Vancouver and Prince Rupert, Jon Gold, General Mills, Jeff Harmening, Paul Brashier, Brashier Organizations: Canadian Labor, ILWU, British Columbia Maritime Employers Association, Canadian, Port, Vancouver Fraser Port Authority, U.S, BNSF, U.S ., National Retail Federation, CNBC, Retailers, General, ITS Logistics Locations: Canada, Coast, ILWU Canada, West Coast, Vancouver, British, of Vancouver, Canadian, Vancouver Fraser, U.S, Port of Vancouver, Port of, West, CN, Canadian Pacific, Berkshire, Panama, U.S . West Coast, Midwest, Chicago

LONDON, June 23 (Reuters) - Global trade remained in the doldrums during the second quarter as China’s post-lockdown rebound proved slower than expected and was offset by continued weakness in North America and Europe. Chartbook: Global container tradeChina’s freight movements have rebounded as the country emerged from lockdowns and the exit wave of the epidemic, though not as fast as anticipated at the start of the year. At Japan’s Narita airport, international air cargo was down 25% in the first five months of 2023 compared with a year ago. The most optimistic interpretation is that freight volumes have stabilised, after declining sharply in the second half of 2022, but there is no sign yet of a recovery outside China. Related columns:- Global freight cycle may have reached lowest point (May 25, 2023)- Global freight shows signs of bottoming out (April 27, 2023)- Global freight slump deepens at the start of 2023 (March 21, 2023)John Kemp is a Reuters market analyst.

Persons: John Kemp, Barbara Lewis Organizations: Global, of, European Union, Ministry of Transport, Traffic, Association of American Railroads, American Trucking Association, Thomson, Reuters Locations: North America, Europe, Netherlands, China, Asia, United States, Japan, United Kingdom, lockdowns, Singapore, East Asia, Los Angeles, Long Beach , Oakland, Houston, Charleston, Savannah, Virginia, Seattle, New York, U.S, Narita, Heathrow

The "slow and go" pace of the International Longshore and Warehouse Union workforce at West Coast ports has slowed ground port productivity to a crawl. "Our data shows that vessels will continue arriving at West Coast ports in the coming days with significant amounts of cargo to unload," said Kyle Henderson, CEO of Vizion. Truck and container backupsThe average truck turns to go in and out of the West Coast ports are up. West Coast ports, which had lost significant volume to East Coast ports over the past year due to volatility in the labor contract talks, had in recent months begun to gain back volume. Recent Panama Canal low water levels limited cargo throughput, and soon after that, large parts of U.S. West Coast ports stopped handling inbound and outbound container trade.

Persons: Kyle Henderson, lashers, Xeneta, Peter Sand, Hapag Lloyd, Paul Brashier, Jerome Powell, Jonathan Ostry Organizations: Fenix Marine Services, Warehouse, Port, CNBC, Vizion, Logistics, Pacific Maritime Association, Long, PMA, Marine Services, East Coasts, Fenix Marine, U.S ., East Coast Ports, CMA, ITS Logistics, Los Angeles, Federal, Georgetown Locations: West Coast, Port of Oakland, Port of Los Angeles, Long Beach , California, Oakland, Los Angeles, Long, Port of Long, Long Beach, Seattle, Tacoma, West, U.S, East, Coast, East Coast, Panama, U.S . West Coast, Gulf, Asia, South America, Los, Houston, Savannah

☆ Retailers Reaping Big Savings on Ocean Transport Costs
▼ + stars: | 2023-03-25 | by ( Paul Berger | ) www.wsj.com time to read: 1 min

Ocean carriers are struggling to fill space on ships after a steep drop-off in cargo that began in the fall. Retailers are gaining huge savings on ocean container transport as once sky-high shipping prices tumble toward prepandemic levels and companies delay signing annual contracts so they can bargain rates down even further. The average price for Asia-to-U.S. container trade has “fallen as dramatically as we’ve ever seen it fall,” said Jon Cargill , senior vice president and chief financial officer of Hobby Lobby Stores Inc.

Moeller-Maersk and Mediterranean Shipping Co. created the so-called 2M alliance in 2015 to help them reduce costs by sharing cargo on major ocean routes. Rivals formed similar partnerships, creating the Ocean Alliance and THE Alliance. Global trade volumes fell 9.5% year over year in November 2022, according to London-based Container Trade Statistics, and global shipping rates have been sliding at a steep pace since early last year. He said the winding down of 2M raised questions over the future of the other two alliances, Ocean Alliance and THE Alliance. So the in-transit issues and all the penalties have pretty much faded away.”Target said in an email that it renegotiates its shipping rates regularly.

☆ The Logistics and Supply-Chain Slowdown Has Begun. Here’s How to Take Advantage.
▼ + stars: | 2022-11-27 | by ( Paul Page | C.H. Robinson Worldwide Ceo Bob Biesterfeld | ) www.wsj.com time to read: +6 min

After the pandemic-driven surge in consumer demand that triggered a frenzy of shipping activity and skyrocketing prices, logistics and transportation companies are signaling a fast slowdown. The weekly Shanghai Containerized Freight Index, which measures shipping prices out of China, recently dropped to $1,443.29, about one-third the level it hit in early June. The jaw-dropping declines also measure the spot market prices. Most freight business moves on contract rates, and those long-term prices haven’t fallen nearly as fast as the spot market. Here are some tips for logistics and supply-chain managers to take advantage of a changing market.

LONDON, Nov 16 (Reuters) - Container freight volumes at the largest U.S. ports were down 3.8% in September compared with the same month a year earlier, confirming the slackening of merchandise trade and downturn in the business cycle. The ports of New York-New Jersey, Los Angeles, Long Beach, Savannah, Houston, Norfolk, Charleston, Seattle and Oakland account for the overwhelming majority of container ocean freight into and out of the United States. Chartbook: U.S. container tradeFreight is reflecting a significant slowdown in consumer spending on merchandise over the last 12-15 months as economies have re-opened after the pandemic and spending has rotated to travel and other services. As the global manufacturing sector contracts, freight volumes are likely to shrink further, which will eventually relieve some of the pressure on diesel fuel supplies. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

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