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☆ CSX completes first diverted cargo shipments on new rail line for Port of Baltimore
▼ + stars: | 2024-04-04 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +3 min

Just days after CSX announced a new rail line in response to the Port of Baltimore closure, the Baltimore-bound containers that were diverted to the Port of New York and New Jersey are back being unloaded in Baltimore. CSX started discussions last week with Ports America to see how it could effectively move the diverted cargo. The train route moving the diverted cargo includes Chicago; Kearney, New Jersey; and Baltimore. Norfolk is in discussions with Ports America to extend this service directly on-dock at their Seagirt Intermodal Container Transfer Facility. As the Port of Baltimore crisis unfolded, many major ocean carriers invoked contract clauses transferring responsibility for transportation of cargo from diverted ports to shipping clients.

Persons: Mark Schmidt, Schmidt, Scott Cowan Organizations: CSX, Port, Ports, Canada, Plan Investment Board, Ports America, Norfolk Southern, Elizabeth Marine, Norfolk Southern's Triple Crown Services, International Longshoremen's Association, Baltimore Locations: Baltimore, of New York, New Jersey, Ports America, North, Chicago, Kearney , New Jersey, Norfolk, New York, Wilmington, Newark, Elizabeth , New Jersey, Port of New York, North America, Port of Baltimore, East Coast, Gulf, U.S, , Puerto Rico, Eastern Canada

☆ The Baltimore bridge disaster is just the latest knock to global shipping and trade
▼ + stars: | 2024-03-28 | by ( Huileng Tan | ) www.businessinsider.com time to read: +7 min

Over the past few years, supply chain woes have repeatedly come into the spotlight. Since then, global integrated supply chain systems just seem to keep getting disrupted — be it by the COVID-19 pandemic or Russia's war in Ukraine. The domino effect is due to the "just in time" model that supply chains have been relying on for decades. Here are three key reasons why supply chains just seem to keep screwing up in recent years. Examining ongoing conflicts in the Black Sea and Red Sea respectively shows how geopolitical conflicts affect global supply chains.

Persons: —, they've, Donald Trump, Dali, Francis Scott Key, Project44, Nari Viswanathan, Viswanathan, tailspin, Julie Gerdeman, Trump, Rahul Khanna, Geoff Weiss, Allan Post, Justus Heinrich, Khanna Organizations: Service, Business, Maersk, BI, Shipping, Allianz, Allianz Commercial, Technologies Locations: China, Ukraine, Baltimore, The Port, of Baltimore, Europe, Asia, Iran, Israel, Suez, Good, Africa, Panama, El, Egypt

☆ Global shipping rates set to jump as carriers avoid the Red Sea amid Houthi attacks
▼ + stars: | 2024-01-10 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +5 min

Freight prices are set to jump Monday, while longer transit times around Africa are disrupting and delaying deliveries of products. British clothing retailer Next recently warned of stock delays as a result of the longer ocean transit. "This creates strong motivations for ocean carrier(s) to increase rate(s) by establishing General Rate Increases (GRIs), Peak Season Surcharge (PSSs), and other contingency or emergency surcharges," the company said. "HLS warned Transpacific freight rates could spike to highs not seen since early 2022, with the Suez Canal route suspended, and the Panama Canal route restricted." Kuehne + Nagel analysts told CNBC that 419 vessels are currently being rerouted due to the Red Sea situation.

Persons: Jon Gold, HLS, Good Hope, Kuehne, Nagel, Franziska Bietke, Mark Rhodes, Rhodes Organizations: Lane Shipping, Ikea, National Retail Federation, CNBC, MSC, U.S ., East, U.S . Shipping Act, Federal Maritime Commission, Kuehne, Logistics, Crane Worldwide Logistics, CNBC PRO Locations: Suez, Ismailia, Egypt, Iran, Red, Africa, Asia, British, West Coast, Panama, U.S . West Coast, East Coast, Gulf of Mexico, South Africa's, Good, Project44, Europe

☆ Panama Canal drought hits new crisis level with nearly half of vessel traffic targeted for cuts
▼ + stars: | 2023-11-03 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +4 min

PANAMA CITY, PANAMA - SEPTEMBER 22: The container ship Maersk Bogor is guided by a tugboat as it prepares to enter the Miraflores locks while transiting the Panama Canal on September 22, 2023 in Panama City, Panama. The Panama Canal Authority is continuing to restrict the number of vessels that pass through the Panama Canal locks as drought has caused water levels at Gatun Lake to drop. Over one hundred ships are waiting to transit the canal and the backup could delay goods heading to the United States for the holiday season. The Panama Canal is popular for East Coast trade because it is faster than other options. Traveling through the Panama Canal takes only 35 days.

Persons: Justin Sullivan, Adil Ashiq, Alan Baer, Baer, Jon Davis, Davis, Ashiq, Paul Brashier Organizations: PANAMA CITY, The Panama Canal, Port, CNBC Supply Chain, Panama Canal Authority, East, Panama Canal, MarineTraffic, USA, CNBC, U.S, ITS Logistics Locations: PANAMA, Bogor, Miraflores, Panama, Panama City, The Panama, Colon, Caribbean, United States, Cape Horn, South America, East, Charleston, El Nino, East Coast, Shenzhen, China, Miami , Florida, Suez, North America, U.S, West Coast, Asia, Gulf

☆ Panama Canal slashes the number of ships allowed through — drought means there isn't enough water in the channel
▼ + stars: | 2023-10-02 | by ( Marianne Guenot | ) www.businessinsider.com time to read: +3 min

The Panama Canal Authority has further restricted the number of boats that can cross per day. Traffic restrictions in August caused a backlog of hundreds of ships waiting to cross. AdvertisementAdvertisementThe Panama Canal Authority further reduced the number of boats that can transit through the strategic waterway, which has been hit by an intense drought. Unlike the Suez Canal, which relies on seawater, the Panama Canal uses freshwater from an artificial lake to supply its waterway. AdvertisementAdvertisementBecause of this, the canal authority has had to ration the transit through the Panama Canal locks, per the AP.

Persons: —, Avance Gas, Ricaurte Vásquez Morales, Vásquez, France24 Organizations: Panama Canal Authority, Service, Avance, French Locations: Panama, Suez, France

☆ Add the climate crisis to the long list of things messing up supply chains this summer
▼ + stars: | 2023-09-12 | by ( Huileng Tan | ) www.businessinsider.com time to read: +6 min

The climate crisis is throwing a wrench into already messy supply chains. Climate change and the El Niño weather phenomenon are affecting water levels in the Panama Canal. The situation is serious this summer because of a historic drought affecting rainfall that feeds into the Panama Canal. Advertisement Advertisement Watch:Droughts aren't a new phenomenon at the Panama Canal — climate change has been associated with unpredictable weather for years. Supply chains were already in chaos from COVID-19, geopolitics, and rising costs in ChinaTo be sure, the vessel congestion at the Panama Canal is troubling because it adds to the existing stress on the world's supply chains.

Persons: Nari Viswanathan, Viswanathan, Project44, Stephen Lamar, Jon Davis, Donald Trump, Biden Organizations: Service, American Apparel & Footwear Association, CNBC Locations: Panama, Washington, El, COVID, China, China . Washington, Beijing, India, Vietnam

☆ The congestion at the Panama Canal is so bad that one shipper paid $2.4 million to jump a line and get through the waterway: report
▼ + stars: | 2023-09-06 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

The Panama Canal has been hit by a serious drought this year, causing long transit times for ships. A shipper recently paid $2.4 million for a winning bid to jump the queue, according to one energy shipping firm. AdvertisementAdvertisementThe congestion in the Panama Canal is closely watched because 40% of US container traffic passes through the waterway, according to an August report from Container xChange, a logistics platform. The Panama Canal Authority said in a Tuesday statement that there's been an improvement in the queue of vessels waiting to transit the canal. AdvertisementAdvertisementThe Panama Canal Authority and Avance Gas did not immediately respond to requests for comment from Insider sent outside regular business hours.

Persons: Oystein Kalleklev, Kalleklev, there's, project44 Organizations: Service, Gas, Shipping, Maersk, Wall, Panama Canal Authority, Bloomberg, Avance Locations: Panama, Wall, Silicon

☆ A huge traffic jam at the Panama Canal could take at least 10 months to clear up — and it'll likely screw up your holiday shopping
▼ + stars: | 2023-08-30 | by ( Rebecca Cohen | ) www.businessinsider.com time to read: +3 min

A traffic jam in the Panama Canal could take at least 10 months to clear up, new data shows. Holiday shopping will likely be impacted, with higher prices and out-of-stock items. Since ships are taking much longer to move through the body of water, delayed shipments will likely screw up holiday shopping plans. Either way, higher prices for the ships likely mean higher prices for the items they're bringing to your area, Slagle explained. The Panama Canal traffic jam can be chalked up to unprecedented conditions in Panama.

Persons: haven't, Jenna Slagle, Slagle, Project44, Salgle Organizations: Morning, Panama Canal Authority Locations: Panama

☆ The world's worst traffic jam isn't on any road — it's at one of the most important shipping routes where ships are paying upto 3x fare just to get across
▼ + stars: | 2023-08-23 | by ( Huileng Tan | ) www.businessinsider.com time to read: +2 min

Over 200 ships are currently stuck in a massive traffic jam in the Panama Canal. The US is the largest user of the Panama Canal, so the bottleneck could hit holiday shipping. AdvertisementAdvertisementThe world's worst traffic jam is at the Panama Canal, where hundreds of massive ships are stuck due to a serious drought that reduced water levels. The traffic jam is so bad that ships have paid multiple times the toll to pass through. AdvertisementAdvertisementThe US is also the largest user of the Panama Canal, accounting for 70% of the waterway's traffic, per Container xChange.

Persons: Lars Oestergaard Nielsen, Maersk's, Insider's Rebecca Cohen Organizations: Morning, Wall, Bloomberg, Clarksons Research Services, Reuters, Panama Canal Authority, Maersk Locations: Panama, Americas, project44, Gulf, East Coast

☆ More than 200 ships are in a traffic jam outside the Panama Canal, showing we can't get through a year without big boats getting stuck
▼ + stars: | 2023-08-22 | by ( Rebecca Cohen | ) www.businessinsider.com time to read: +2 min

More than 200 ships are stuck in a traffic jam outside the Panama Canal. Over 200 ships are currently stuck in a major traffic jam on either side of the Panama Canal, with some ships trapped for more than three weeks waiting to get through, according to data from project44 reviewed by Insider. The ships are stuck due to an unprecedented drought taking hold in Panama right now, the Wall Street Journal reported. The traffic jam is causing a slowdown in consumer goods delivery and is already stoking concerns over the holiday supply chain. But the stuck ships should come as no surprise; it's the third year in a row that the world has marveled at an unfortunate logjam of maritime traffic.

Persons: Alix Partners, Alix Organizations: Wall Street Journal, Panama Canal Authority, Alix Partners, Authorities Locations: Panama, Suez, Chesapeake

☆ Where the trucking and rail recession is showing up in the economic data
▼ + stars: | 2023-04-28 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +6 min

The decrease negatively impacts earnings for both trucking and rail where revenue is generated by moving freight. Ocean freight orders are a leading indicator of train and trucking earnings since 90% of the world's trade moves by water. This is one of three key supply chain charts that are signaling more financial potholes for trucking and rail companies. West Coast ports have been losing trade to both the East Coast ports and Gulf ports as a result of prolonged labor negotiations, though union representatives indicated last week a "tentative agreement" had been reached, but no details were provided. Trucking is needed for both container pick up at the ocean terminals and rail ramps.

☆ 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.

☆ New York continues streak as nation's No. 1 port as LA cargo volume hits level not seen since 2009
▼ + stars: | 2022-11-17 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +6 min

Earlier this week, the Port of Los Angeles posted its lowest level of October since 2009. "Firstly, shippers are still avoiding the West Coast to mitigate the risk of labor strikes at LA and Long Beach. According to Project44 data, total vessel TEU capacity deployed from Europe to the East Coast is up 15.5% compared to Oct 2021. CNBC Supply Chain Heat Map providers warned in the summer and fall of a decrease in manufacturing orders which has impacted the volume of shipping. The lesser container volumes are now being seen off the ports across the East Coast, including New York and New Jersey.

☆ Canceled sailings from China and 'radical' vessel cuts hit U.S. ability to reach export market
▼ + stars: | 2022-11-11 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +9 min

"As shipping lines reduce their vessel calls in the form of blank sailings, this reduces the capacity for outbound volumes. Sea-Intelligence wrote in its recent blank sailings report that it has detected some unannounced cancellations for the calendar-year period of weeks 42-52 in the past two weeks. "Blank sailings have been ramped up drastically on the Transpacific, but not so much on Asia-Europe," said Alan Murphy, CEO at Sea-Intelligence. On Asia-North Europe routes, Sea-Intelligence is only seeing an additional six blank sailings, and on Asia-Mediterranean routes an increase of four blank sailings. The weekly average of vessels waiting this week is 14, waiting for an average of 6.3 days.

☆ Supply-Chain Tech Provider Project44 Delays Potential Public Offering
▼ + stars: | 2022-11-03 | by ( Paul Page | ) www.wsj.com time to read: +4 min

Supply-chain technology provider project44 has postponed plans for a possible public stock offering amid the uncertainty in markets, and instead is turning to more venture-capital investment to expand its business tracking goods through global transportation networks. Funding for supply-chain technology startups has also tapered off this year, according to analytics firm PitchBook Data Inc., as venture-capital firms have reined in deal making. Mr. McCandless said project44 can continue to expand without going to public markets over the next couple of years based on its existing investment and cash flow. PREVIEWMr. McCandless said project44 was in position to file paperwork in June for a future public stock offering. A public offering, he said, would allow more venture-capital and private-equity investors to cash out in public markets while letting the company have continuing access to capital.

☆ Goldman-backed project44 valued at $2.7 bln in latest funding round
▼ + stars: | 2022-11-03 | by ( ) www.reuters.com time to read: +1 min

Nov 3 (Reuters) - U.S.-based supply chain management technology company project44 said on Thursday it was valued at $2.7 billion after its latest funding round that also saw participation from existing investor Goldman Sachs Asset Management. The $80 million funding round was led by investment firms Generation Investment Management and A.P. Moller Holding, while buyout firm TPG (TPG.O), venture capital firm Emergence Capital and others also participated. Project44 said the funds will be used to measure and reduce emissions across its global supply chain. The COVID-19 pandemic set off a crisis in global supply chains, which has also worsened inflation and put pressure on central banks to tame price hikes.

☆ New York tops West Coast again as nation's No. 1 port in sign of permanent trade shift
▼ + stars: | 2022-10-27 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +3 min

The previous monthly data was the first time New York topped the West Coast and was being watched as a tipping point. Fears of a strike among West Coast port workers is one of the primary reasons behind the coastal shift in trade to the U.S. The freight railroads have shifted with the port trade trends as the East Coast has gained. "We expect the East Coast trend to continue, and our railroad is ready to deliver for more than half of the country's consumers and manufacturers," he said. As more trade has moved east, port congestion has come with it.

☆ China, 'factory of the world,' is losing more of its manufacturing and export dominance, latest data shows
▼ + stars: | 2022-10-20 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +5 min

The container ship Emma Mærsk docked at the Dapukou container terminal of Ningbo-Zhoushan Port on August 21, 2022 in Zhoushan, Zhejiang Province. Teodoro said Vietnam's close proximity to China and cheap labor are reasons why Vietnam is considered a suitable alternative. Vietnam has taken the lion's share of the manufacturing trade away from China with an almost 360% increase in far-distance trade since 2014 — the year the country started to invest in its maritime and manufacturing sector. Malaysia and Bangladesh have taken apparel manufacturing away from China, according to MDS Transmodal, while Taiwan has seen a marginal uptick in metal manufacturing. Ningbo port hit by Covid policiesThe Port of Ningbo, the world's largest port and the third-largest container port, is the latest Chinese trade hub to see an impact from the government's "Zero Covid" policies.

☆ Tensions rise in West Coast port labor battles, with unions and management trading accusations
▼ + stars: | 2022-09-28 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +6 min

Tensions are rising in West Coast port labor battles as unions and port management trade accusations about worker productivity and the awarding of job assignments. Jerome Roberts, GVP of marketing at supply chain consulting company Blume Global, told CNBC the one shift protest had no lasting productivity impact. Logistics companies fear the latest round of accusations will only increase tensions for a supply chain and national port infrastructure already dealing with multiple labor concerns. Project44, which also collects and analyzes port productivity for the CNBC Supply Chain Heat Map, has tracked some recent issues at Seattle operations. Container dwell times at the Port of Oakland have been improving over the month of September, according to Josh Brazil, vice president of supply chain insights at Project44.

☆ A new wave of UK port labor strikes begins, with 'massive impact' for Christmas supply chain
▼ + stars: | 2022-09-28 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +6 min

A striking dockworker on a picket line outside the Port of Liverpool during a strike in Liverpool, UK, on Tuesday, Sept. 20, 2022. The shop stewards who represent union workers accepted Peel Ports request for a meeting at the union office on Tuesday. Supply chain impact from second round of U.K. strikesThe latest development comes amid mounting labor issues linked to inflation at U.K. ports, with workers at the nation's largest port, Felixstowe, beginning another strike this week after one in August. "Unite made it clear that until they have reached their goals these waves of strikes will continue which will have a massive impact on the Christmas business and supply." The CNBC Supply Chain Heat Map shows the present situation at the ports.

☆ Workers strike again at UK's largest port Felixstowe in threat to holiday shipments
▼ + stars: | 2022-09-27 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +4 min

The dockworkers at Felixstowe, the largest port in the UK, have started an eight-day strike in protest over their wages and inflation, overlapping with an ongoing strike at Port of Liverpool. Together, the two port strikes threaten imports and exports across industries —much bound for the U.S. — during a critical ramp up in the holiday shipping season. The combined value of weekly trade that moves out of the ports of Felixstowe and Liverpool, according to MDS Transmodal, is nearly $7 billion. The Port said in a statement Tuesday that it was "very disappointed that Unite has announced this further strike action. "This time, it's more likely that supply chains will be under pressure and trade could be affected by the overlapping Liverpool strike," warned Brazil.

☆ New York is now the nation's busiest port in a historic tipping point for U.S.-bound trade
▼ + stars: | 2022-09-24 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +5 min

This comes as the flow of trade continues to move away from the West Coast with logistics managers worried about a labor strike or lockout. More East Coast trade, and more port congestionThe CNBC Supply Chain Heat Map for the U.S. shows how the continued increase in trade has East Coast ports and Gulf port as the winners in this movement of freight. Maritime prices fallingThe flow of trade away from the West Coast has decreased the demand for vessel space, leading Far East to West Coast maritime freight prices to fall. "Shippers are still bringing in a lot of containers, on the East Coast and West Coast and Gulf Coast as well." Shippers are still hesitant to return re-routed cargo to the U.S. West coast, Sand said.

☆ Блокировка Суэцкого канала спровоцировала рост цен на нефть на 5% – Цензура МД
▼ + stars: | 2021-03-26 | by ( ) cenzura.md time to read: +1 min

В мире Блокировка Суэцкого канала спровоцировала рост цен на нефть на 5%Танкеры с нефтью на сумму более $400 млн застряли в результате блокировки Суэцкого канала севшим на мель контейнеровозом Ever Given. По ее данным, в канале застопорились по меньшей мере семь крупнотоннажных судов, перевозящих 6,3 млн баррелей нефти. Также отмечается, что остановка постигла и 15 других судов, перевозящих нефтепродукты, включая нафту, авиационное топливо и бензин. Стоимость нефти Brent в ходе торгов 24 марта выросла на 5,8%, до $63,9 за баррель, после новостей о прекращении движения судов по Суэцкому каналу. Общее количество застрявших в регионе судов разных типов оценивается примерно в сотню, пишет издание.

Persons: Brent Organizations: China, ТАСС Locations: Суэцкий канал, Азия

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