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☆ Biden promise to rival China on shipbuilding faces a big economic problem
▼ + stars: | 2024-04-25 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +11 min

The Biden administration is correct that China has not played fair. But he said the nations that could rival China in shipbuilding are Asian competitors. Shipbuilding subsequently dropped to around five ships per year, which is approximately the current rate of U.S. shipbuilding. President Joe Biden speaks to members of the United Steel Workers Union at the United Steel Workers Headquarters on April 17, 2024 in Pittsburgh, Pennsylvania. Biden announced new actions to protect American steel and shipbuilding industries including hiking tariffs on Chinese steel.

Persons: Biden, Ben Nolan, Nolan, Reagan, Joe Biden, Jeff Swensen, —, Darron, Wadey, Lloyd, Matson, George Washington, Ronald O'Rourke, O'Rourke Organizations: Mitsui Shipbuilding Co, Taicang Port Economic, Technological, Future Publishing, Getty, CNBC, Shipbuilding, Global, United States, Trade, U.S . Trade, U.S, China's Ministry of Commerce, United Steel Workers, Japan's Nippon Steel, United Steel Workers Union, United Steel Workers Headquarters, Analysts, Matson Shipping, Jones Act, Philly Shipyard, CMA CGM, Matson, United, Maritime Administration, U.S ., Huntington Ingalls Industries, News Shipbuilding, U.S . Navy, U.S Navy, Newport News Shipbuilding, Virginian Pilot, Tribune, Service, Force, warfighting, Navy, Biden, Congressional Research Service Locations: Taicang Port, Suzhou, Jiangsu province, China, U.S, Japan, South Korea, United States, Pennsylvania, Pittsburgh , Pennsylvania, American, Bangladesh, U.S . Virgin Islands, Great, Mississippi, Ohio

☆ The Red Sea crisis tests China’s global ambitions
▼ + stars: | 2024-01-30 | by ( Nectar Gan | ) edition.cnn.com time to read: +10 min

China’s responseThe Houthi rebels in Yemen started firing missiles and drones at ships in the Red Sea in mid-November, in what they say is an act of solidarity with Palestinians. Chinese officials repeatedly stressed that the Red Sea crisis is a “spillover” from the conflict in Gaza, citing an immediate ceasefire between Israel and Hamas as the top priority. Beijing’s reluctance to wade into the Red Sea crisis reflects these geopolitical calculations. The Chinese government readout of the meeting between Wang and Sullivan did not mention the Red Sea. Egypt is losing millions of dollars per day from the reduced traffic at the Suez Canal at the northern end of the Red Sea.

Persons: Houthi, “, ”, Mordechai Chaziza, Xi Jinping, Israel, ” Chaziza, Wang Yi, Jake Sullivan, Iran ”, we’re, Wang, Sullivan, Ebrahim Raisi, Yan Yan, OOCL, Kuehne + Nagel, Jonathan Fulton, “ can’t, ” Fulton, William Figueroa, Xi Organizations: Hong Kong CNN, Ashkelon Academic College, Beijing, Iran, People’s Liberation Army Navy, Britain, United Nations Security Council, Global, Western, Chinese Foreign, White House, Reuters, Chinese Foreign Ministry, China, Shanghai Shipping Exchange, Atlantic Council, University of Groningen, Xi’s Global Security Initiative, GSI, Hamas Locations: Hong Kong, Red, Israel, Ashkelon, United States, China, Europe, Yemen, Gulf, Aden, Djibouti, Beijing, Gaza, Bangkok, Iran, Tehran, Africa, Switzerland, Francisco, Shanghai, Abu Dhabi, Egypt, Suez, Sea, Saudi Arabia, Netherlands

☆ 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

☆ Containerships diverted from Vancouver amid port strikes, headed for Seattle
▼ + stars: | 2023-07-06 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +3 min

Two containerships originally bound for the Port of Vancouver are changing course and have been diverted to the Port of Seattle, according to VesselsValue tracking data, as labor strikes at West Coast ports in Canada stretch into their sixth day. The distance between the Port of Vancouver and the Port of Seattle is a little over a half-day's trip traveling at typical speeds. New data from MarineTraffic shows 15 containerships bound for Vancouver and 9 containerships bound for Prince Rupert. They were scheduled to arrive at the Port of Vancouver on July 3 and were then destined by rail for Memphis. The ocean carriers are the final arbiter in any container destination change.

Persons: Sara Elena, It's, Prince Rupert, Port of Prince Rupert, Paul Brashier, Brashier Organizations: Port, CNBC, Tacoma . ITS Logistics, ITS Logistics, American Apparel and Footwear Association, National Retail Federation, British Columbia Maritime Employers Association, Warehouse Union Locations: Vancouver, Port of Seattle, West Coast, Canada, San Francisco, Port of Vancouver, Seattle, Port, Port of, Asia, Tacoma, Memphis, United States, British

☆ West Coast port labor issues continue as some Los Angeles-bound rail shipments get paused
▼ + stars: | 2023-06-06 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +3 min

Aerial view of containers and cargo ships at the Port of Los Angeles on Jan. 19, 2022 in San Pedro, California. Union Pacific is no longer accepting exports or empty containers at its Denver rail terminal destined for the Port of Los Angeles, a proactive move that reflects the supply chain issues that have arisen due to ongoing West Coast port labor issues. That is critical for food and agriculture shipments, where products can spoil — the U.S. agriculture industry uses the West Coast predominantly for its goods. The Port of Los Angeles is the nation's busiest port, processing $440 billion in cargo value per year. Berkshire Hathaway subsidiary BNSF and Union Pacific are the railroads servicing the West Coast ports.

Persons: Paul Brashier Organizations: Port, San Pedro , California ., San Pedro , California . Union Pacific, CNBC, Ocean, CMA, Pacific, Union Pacific, Berkshire Hathaway, BNSF, ITS Logistics, Pacific Maritime Association, Oakland, Truckers, Marine Services, Maersk Locations: Port of Los Angeles, San Pedro , California, San Pedro , California . Union, Denver, West Coast, Los Angeles, East Coast, Long, U.S, Seattle, OOCL, COSCO Shipping, Sealand, Evergreen

☆ West Coast port labor issues persist from Los Angeles to Seattle, with supply chain frustration mounting
▼ + stars: | 2023-06-05 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +4 min

A container ship is shown at the Port of Los Angeles in Los Angeles, California, November 22, 2021. Another Los Angeles Port terminal, Pacific Container Terminal (owned by SSA) announced Monday morning to truckers they would be closing the dayside shift on Tuesday. watch nowThe Port of Los Angeles, the nation's busiest port, processes $440 billion in cargo value per year. That market share has declined with more trade moving to the East Coast over the past year, at least partially due to labor issues on the West Coast that had supply chain managers worried about reliability of service. Recently, as the labor negotiations on the West Coast were said to have made progress, more trade started coming back.

Persons: Mike Blake, Paul Brashier, Brashier, ILWU Organizations: Port, Oakland, Logistics, CNBC, Marine Services, CMA, Maersk, Evergreen, ITS Logistics, Warehouse Union, Fenix Marine, Los Angeles Port, Container, SSA, Pacific Maritime Association Locations: Port of Los Angeles, Los Angeles , California, West, Los Angeles, Seattle, OOCL, COSCO Shipping, Sealand, West Coast, Port, East Coast, China, of Los Angeles, East, Long, Oakland

☆ US import prices fall more than expected in March
▼ + stars: | 2023-04-14 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Brendan McDermidWASHINGTON, April 14 (Reuters) - U.S. import prices fell more than expected in March, leading to the biggest year-on-year decline since mid-2020, further evidence that inflation pressures were subsiding. Import prices dropped 0.6% last month after slipping 0.2% in February, the Labor Department said on Friday. Economists polled by Reuters had forecast import prices, which exclude tariffs, falling 0.1%. The government reported this week that consumer prices barely rose in March, while producer prices fell by the most in nearly three years. Petroleum prices decreased 1.2%, while natural gas prices plummeted 31.3%.

☆ Manufacturing orders from China down 40% in unrelenting demand collapse
▼ + stars: | 2022-12-04 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +6 min

U.S. manufacturing orders in China are down 40 percent, according to the latest CNBC Supply Chain Heat Map data. HLS expects most carriers to extend their West Coast rates until December 14, holding at $1,300-$1,400 per forty-foot equivalent containers (FEU). The 2M Alliance of Maersk and MSC has suspended almost half of its U.S. West Coast services for December. is also impacting Vietnam, which has been booming as a manufacturing hub as more trade moved away from China. Canceled ocean sailings bound for Vietnam are up 50% for December.

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