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Search resuls for: "Ocean Carriers"


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Between swirling geopolitical winds, the variables of climate change and continued disruptions resulting from the pandemic, the risks of depending on ships to carry goods around the planet were already conspicuous. The pitfalls of relying on factories across oceans to supply everyday items like clothing and critical wares like medical devices were at once vivid and unrelenting. Off Yemen, Houthi rebels have been firing missiles at container ships in what they say is a show of solidarity with Palestinians in the Gaza Strip. In Central America, a dearth of rainfall, linked to climate change, has limited passage through the Panama Canal. That has impeded a crucial link between the Atlantic and the Pacific, delaying shipments to the East Coast of the United States from Asia.
Organizations: Atlantic, Pacific Locations: Baltimore, Patapsco, American, Yemen, Gaza, Suez, Asia, Europe, Africa, Central America, Panama, East Coast, United States
The shipping container is a logistics marvel that can affordably move thousands of items from hundreds of different companies all around the globe. Supply chain disruptionsDisruptions to global trade can have major impacts on shortages and inflation, causing serious ramifications for American households and businesses. Indeed, inflation cooled alongside the bounce back of the supply chain, according to a White House analysis of the U.S. economy. [It's] an inefficiency born not of container shipping but just of the nature of the global economy." Watch the video above to learn more about how shipping containers enable global trade, why China dominates the shipping industry and what happens after a container shortage.
Persons: Simon Heaney, John Fossey, Good Hope, John McCown, nonresident, McCown, Goetz Alebrand, " Heaney, Heaney Organizations: Drewry, CNBC, Supply, Federal Reserve Bank of San, Center for Maritime Strategy, Federal Maritime Commission, Americas, DHL Global Locations: Federal Reserve Bank of San Francisco, U.S, Iran, Good, Africa, China, Ukraine, Asia
The steel frame of the Francis Scott Key Bridge sits on top of the container ship Dali after the bridge collapsed, Baltimore, Maryland, on March 26, 2024. At the time of the collision, the vessel had two pilots from the Port of Baltimore on board. The steel frame of the Francis Scott Key Bridge lies in the water after it collapsed in Baltimore, Maryland, on March 26, 2024. "For cargo already on water, we will omit the port, and will discharge cargo set for Baltimore, in nearby ports. "The collapse of the Baltimore bridge primarily affects coal exports from CNX and CSX terminals," said Madeleine Overgaard, dry market data manager for the global trade data platform Kpler.
Persons: Francis Scott Key, Dali, Roberto Schmidt, Paul Brashier, Brashier, Goetz Alebrand, Wes Moore, Larry, Richard Meade, Meade, Kena Betancur, Andy Lipow, Lipow, Helen Delich Bentley, Judah Levine, Madeleine Overgaard, Levine, Tasos Katopodis Organizations: Afp, Getty Images Logistics, Port, Eastern Seaboard, ITS Logistics, Getty, Americas, DHL Global, Maryland Gov, Baltimore, AFP, Uber Freight, IKEA, Lipow Oil Associates, Maersk, Freightos, CSX, East, Francis Scott Key Bridge Locations: Baltimore , Maryland, Baltimore, New York, New Jersey, Norfolk, Port of Baltimore, Colombo, Sri Lanka, Port, American, Taicang Port, Suzhou, China's, Jiangsu, East Coast, Norfolk , Virginia, Maryland, Midwest, New England, Virginia, North East , Maryland, Gulf Coast, Philadelphia, Suez, CNX, Freightos, Asia, U.S
We saw them coming up a bit towards the end of the quarter, and then of course, the Red Sea crisis ... which again changed the market." Rolf Habben Jansen, CEO of Hapag-Lloyd, the world's fifth-largest ocean carrier, tells CNBC he has an improved view on trade for the rest of 2024. "It's a concerning situation and I think the [Red Sea] outlook is very difficult," Jansen said. In addition to the added costs, according to Sea-Intelligence, the Red Sea diversions could increase carbon dioxide emissions by 260%–354%. New ocean alliance with MaerskThe reduction in global freight and schedule reliability are headwinds ocean carriers have been facing for months.
Persons: Lloyd, Jansen, Rolf Habben Jansen, Hapag Lloyd, Hansen, it's, Lars Østergaard Nielsen, Nielsen, " Hansen Organizations: CNBC, Intelligence, EU, Trading, Maersk, Hapag, Gemini, Sea, MSC Locations: U.S, Asia, West Coast, East Coast, Gulf Coast, Red, Aden, Yemen, Africa, Europe, Suez, Panama, California
During 2022-2023, ocean carriers used some of those reserves for their own buying sprees to expand their footprints. While adding to the ocean carrier bunker fuel costs, they are being compensated.. "The Red Sea diversions are a good thing for ocean carriers. The big question mark is the duration of the diversions and the surcharges the ocean carriers can charge. Those two regions have steadily taken market share away from the West Coast ports, with shippers also benefitting from investments in ports infrastructure. "The West Coast ports have strengthened infrastructure," Iampieri said.
Persons: Marc Iampieri, Cash, Iampieri, Jeff Bezos, It's, Paul Brashier, Brashier, AlixPartners Organizations: Bloomberg, Getty, Dow Jones Transportation, Fortune, Convoy, Amazon, Technology, Ocean, Maersk, CNBC, ITS Logistics Locations: Panama, Red, East Coast, AlixPartners, Flexport, Europe, North America, Asia, West Coast, East, Gulf, Mexico, West, Los Angeles, Long
It tells CNBC that rates on ocean routes from Asia to Europe and the Mediterranean are beginning to decline, but for U.S.-bound trade, prices are still climbing. Rates for cargo headed to the U.S. are still risingBut for U.S companies, while some have negotiating leverage, shipping rates are not seeing any reprieve. According to Sand, rates for the trade route from the Far East to the U.S. East Coast are still heading higher. "Everyone is accusing everyone at the moment, which is normal during situations when there is so much uncertainty in the market," Sand said. "Ocean freight carriers did not invent this crisis and it takes time for them to put in new shipping networks to deal with the disruption caused by diverting away from the Suez Canal."
Persons: February's GRIs, Emily Stausbøll, Peter Sand, Sand Organizations: CNBC, Logistics, U.S . Locations: Xeneta, Asia, Europe, North Europe, Sand, U.S . East Coast, Suez
The strikes are a response to attacks on the Red Sea, adding complexity to the regional conflict originating from Israel's Gaza war. With that exception, "This [the Red Sea crisis] is the largest single event – even larger than the early pandemic impact," Murphy said. Sea-Intelligence analyzed current vessel delays compared to delays over the last several years in a report for clients. A leading ocean supply chain advisory firm is warning that the disruptions to shipping from the Houthi rebel attacks in the Red Sea are already more damaging to the supply chain impact than the early Covid-19 pandemic. "Threats to Red Sea shipping are a threat to maritime commerce worldwide," said Steve Lamar, CEO of the American Apparel and Footwear Association.
Persons: Luis Boza, Alan Murphy, Murphy, Hope, Steve Lamar Organizations: Getty, Intelligence, MSC, Volvo, Michelin, Ikea, American Apparel and Footwear Association, Logistics, CNBC Locations: Lisbon, Portugal, U.S, Yemen, Red, Gaza, Suez, Good Hope, Europe, United States, Asia
DHL Cargo planes are unloaded at Halle-Leipzig Airport on February 28, 2014 in Leipzig, Germany. Up to 60 cargo planes land every weeknight. The Houthi attacks in the Red Sea are not only driving up sea freight — air freights are going to get higher too, as global trade flows get increasingly disrupted. This means that air cargo is about to play an expanded role in the supply chain ecosystem. Air freight can slash delivery times to just a few days compared to weeks taken by ocean carriers.
Persons: Matthew Burgess, Robinson Organizations: DHL Cargo, Airport Locations: Halle, Leipzig, Germany, South Africa, C.H
Stringer | Bloomberg | Getty ImagesVessels transiting the Red Sea have faced attacks over the past several weeks from Yemen-based Houthis, prompting shipping companies to change routes, leading to a spike in freight rates. Alan Baer CEO of OL USAVessel-Operating Common Carriers (VOCC) are ocean carriers that own and operate vessels responsible for managing cargo and transporting them. Luis Boza/ | Nurphoto | Getty ImagesWhile the recent spikes in freight rates might not help shippers relive their glory days following the pandemic, they would substantially boost profitability. Brashier noted that both contracted rates for ocean carriers and spot market rates may rise further. Overall, container freight will still [find it] difficult to manage oversupply issue.
Persons: Stringer, Houthi, Alan Baer, Baer, Luis Boza, Nico Luman, Jefferies, Brashier, Daejin Lee Organizations: Bloomberg, Getty, Houthi, U.S, U.S . Central Command, USA, CNBC, Evergreen, Shipping, Logistics, Head, Research, Fertistream Locations: Suez, Egypt, Yemen, South Africa, Gibraltar, Maersk, Lisbon, Portugal, Asia
The Red Sea is one of the most important shipping waterways in the world, but it’s also one of the most dangerous. Here’s how the cargo industry is responding to try and guard against attacks from the Houthis in Yemen. Illustration: Annie ZhaoWestern importers are reporting a steep rise in ocean-shipping rates and weekslong delays as carriers divert ships from the Red Sea to avoid Houthi rebel attacks. Some companies shipping goods on the crucial trade lane are starting to chafe at the rising prices and extra fees that ocean carriers are imposing for the higher cost of routing containerships on longer voyages around the Horn of Africa following drone and missile attacks by Houthi rebels in Yemen.
Persons: it’s, Annie Zhao, Houthi Locations: Yemen, of Africa
How the Red Sea crisis could clobber the global economy
  + stars: | 2024-01-10 | by ( Hanna Ziady | ) edition.cnn.com   time to read: +9 min
The Suez Canal accounts for 10-15% of world trade, which includes oil exports, and for 30% of global container shipping volumes. Maersk CEO Vincent Clerc told the Financial Times Thursday that re-establishing safe passage through the Red Sea could take “months.” “It could potentially have quite significant consequences on global (economic) growth,” he added. Ikea has warned of shipment delays and potential shortages of certain products due to disruption in the Red Sea. Some ocean carriers that ordinarily transit through the Panama Canal had rerouted to the Suez Canal before the attacks in the Red Sea escalated, according to logistics company C.H. Matthew Burgess, vice-president of global ocean services at the firm, said global shipping capacity would be constrained for a while yet.
Persons: Joe Biden, Vincent Clerc, Germany’s, Mohamed, El Erian, ” Simon MacAdam, Lily Millard, Ben May, Good Hope, , ” It’s, Abercrombie &, Nathan Howard, , ” Philip Damas, , Judah Levine, Levine, Eric Thayer, Carolina Klint, Marsh McLennan, Robinson, Matthew Burgess, we’ve, Gene Seroka, Burgess, C.H Organizations: London CNN, British, Energy, World Bank, Maersk, MSC, Lloyd, CMA CGM, Financial Times, Global, Germany’s Kiel Institute, Allianz, Bank, Capital Economics, Oxford Economics, European Automobile Manufacturers ’ Association, Ikea, CNN, Abercrombie, Abercrombie & Fitch, Bloomberg, Getty, Drewry Supply Chain Advisors, Marsh, United, Port Locations: Iran, Crocs, Suez, Yemen, Gaza, Germany, Brent, Gulf, Oman, South Africa, Germany’s Kiel, Red, Israel, Good, Europe, , China, Asia, Los Angeles, United States, Panama, Rotterdam, of Los Angeles, of New York, New Jersey
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
U.S. ports are receiving multimillion dollar grants to upgrade cargo handling infrastructure. The grants are part of the Biden administration's $21 billion commitment to modernize port infrastructure in the U.S.Midsize port cities such as Baltimore are among the 2023 grant recipients. In November, the Port of Baltimore received a $47 million grant to kick-start an offshore wind manufacturing hub, among other improvements. More than $653 million in Port Infrastructure Development Program grants were awarded to U.S. ports in 2023 by the U.S. Department of Transportation, Maritime Administration. Ports America formed a public-private partnership with the state of Maryland to manage equipment and operations in sections of the Port of Baltimore.
Persons: John Deere, Walter Kemmsies Organizations: Biden, BMW, Maryland Port Administration, Port Infrastructure Development Program, U.S . Department of Transportation, Maritime Administration, Tacoma Husky, North, Environmental Protection Agency, U.S . Department of Defense, Kemmsies, Port Authority of, CNBC, Midwest ., Port Locations: U.S, Baltimore, Port, Washington, Long Beach , California, Port Authority of Georgia, Savannah, Maryland, Port of Baltimore, Midwest
Giant gantry cranes and tracks in a container port, viewed from a moored cruise ship in Ashdod, Israel. The moves to evade detection come as shipping lines are also being advised to wait further offshore with rocket attacks reported at the ports of Ashdod and Eilat in Israel. Israel has closed the Port of Ashkelon, the country's biggest oil-importing port, because of rocket attacks. "This suggests that container lines are avoiding the Port of Ashdod, and potentially relying more on the Port of Haifa instead," Woitzik said. The ports of Ashdod and Haifa are the key ports for food imports.
Persons: There's, Homayoun Falakshahi, Ambrey, Falakshahi, Port, Mirko Woitzik, Woitzik, majeure Organizations: Getty, AIS, Israel, CNBC, tanker Sea Galaxy, Port, ICL Group, ICL, Rockets, Army, Evergreen Locations: Ashdod, Israel, Eilat, Port, Port of Haifa, Ashkelon, Haifa, Kpler, Gaza, Suez, Aqaba
Just this week, the Panama Canal Authority extended those restrictions for at least another 10 months. Next shoe to dropBut from a transportation standpoint beyond Panama, the next shoe to drop could be the Mississippi River, Davis said. During the past 30 days, rainfall along the southern Mississippi River has been well below normal. And when you have two disruptions versus just one, that is magnified overall.”Holiday shopping hang-upsFor now, general waiting times have spiked at the Panama Canal. Supply chain shiftsHad this occurred before the pandemic lockdowns and the drastic swings in consumer spending patterns that mangled supply chains, it might have been a different story.
Persons: sandstorm, , Janelle Griffith, Marsh, Jon Davis, El, , Davis, Evelyn Hockstein, Everstream, Ahmad Hassan, hasn’t, “ We’ve, ” Phillip Sanfield, Amanda Kwan, hadn’t, ” Kwan, plumb, Taylor Swift, Kamala Raman, you’ve, Peter Sand, Sand Organizations: Minneapolis CNN —, Panama Canal Authority, Getty, CNN, Port, Port Authority of New, National Retail Federation Locations: Minneapolis, Minneapolis CNN — Panama, Panama, Mississippi, Suez, North American, El, Central America, Grand Tower , Illinois, New Orleans, United States, Europe, Egyptian, Ismailiya, AFP, Panama Canal, Los Angeles, Port of Los Angeles, New York, Port Authority of New York, New Jersey,
A ship navigates through the Panama Canal in the area near the Americas' Bridge in Panama City on April 24, 2023. The Panama Canal is a critical trade link for U.S. shippers heading to Gulf and East Coast ports. The U.S. is the largest user of the Panama Canal, with total U.S. commodity export and import containers representing about 73% of Panama Canal traffic. The massive pileup is a result of water conservation measures the Panama Canal Authority deployed in late July due to drought. West Coast ports saw a decrease of 38.3% in July trade, and top East and Gulf Coast ports processed an increase of 46.4%.
Persons: Luis Acosta, Max, Adil Ashiq, Ricaurte Vásquez Morales, Ashiq, Descartes, Stephen Lamar Organizations: Afp, Getty, Panama Canal Authority, Labs, Planet Labs, PCA, Port, MarineTraffic, American Apparel & Footwear Association Locations: Panama, Americas, Panama City, Gulf, East Coast, U.S, Pacific, Port of Balboa, Port of Savannah, North America, Gatun, Coast, West Coast
Photographer: Ben Nelms/Bloomberg via Getty ImagesThe supply chain is in turmoil again with International Longshore & Warehouse Union West Coast Canada members walking off the job after a key union caucus voted down a tentative deal that had temporarily ended the West Coast ports strike last week. Rob Ashton, president of the ILWU Canada, said in a statement that it did not believe the recommendations had the ability to protect union jobs. His group estimated that the first strike would cause an average 6-8 weeks of supply chain disruption before conditions would return to normal. The National Association of Chemical Distributors told CNBC some chemical companies are expected supply chain congestion until October as a result of the strike. Critical chemicals that go into food, cleaning, water purification, and personal care, among many others, flow through the West Coast ports of Canada and down to the United States.
Persons: Prince Rupert, of Prince Rupert in Prince, Trudeau, He's, Kinder Morgan, Ben Nelms, Rob Ashton, Seamus O'Reagan, " O'Regan, Steve Lamar, Lamar, Vancouver and Prince Rupert, Destine Ozuygur, Ozuygur, Eric Byer, Byer, HLS, Captain Adil Ashiq, Ashiq, Paul Brashier, BCMEA Organizations: Prince Rupert Grain Ltd, Canadian, Enbridge Inc, Kinder, Kinder Morgan Inc, Bloomberg, Getty, Warehouse Union, Coast Canada, British Columbia Maritime Employee Association, Canada's Labor, Canada's Transport, Canada Industrial Relations Board, Logistics, CNBC, American Apparel and Footwear Association, Railway Association of Canada, U.S, Port, HLS Shipping, Association of American Railroads, National Association of Chemical Distributors, Canadian National Railroad, Government, ., U.S ., ITS Logistics Locations: of, of Prince Rupert in Prince Rupert, British Columbia, Canada, Petroliam Nasional, West, British, Vancouver, U.S, Port of Vancouver, eeSea, United States, . West Coast, East Coast, China, U.S . West Coast, U.S . East Coast, North America, East, Asia
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
A tentative deal between the Pacific Maritime Association and the International Longshore and Warehouse Union was announced Wednesday night, ending 14 days of worker slowdowns and stoppages that crippled port productivity. The new contract is for six years and will cover workers at all 29 West Coast ports. "We are also pleased to turn our full attention back to the operation of the West Coast Ports." In a landslide vote, ILWU Canada workers authorized a strike at Canadian West Coast ports as early as June 24. Correction: A tentative deal between the Pacific Maritime Association and the International Longshore and Warehouse Union was announced Wednesday night.
Persons: slowdowns, James McKenna, Willie Adams, Labor Julie Su, Su Organizations: Pacific Maritime Association, Warehouse Union, West Coast Ports, Labor, CNBC, SSA, Logistics, Canadian Locations: Coast, San Francisco, California, Los Angeles, Long Beach, Oakland, The, Seattle's, Port, Seattle, Canada, Canadian West, Panama, East Coast
Julie Su testifies before a Senate Health, Education, Labor and Pensions Committee hearing on her nomination to be Labor Secretary, on Capitol Hill in Washington, U.S., April 20, 2023. President Biden's Acting Labor Secretary Julie Su is in current communication with labor and port management representatives in an effort to help broker a deal at a time of rising tensions at ports up and down the West Coast. President Biden nominated Acting Secretary Su on February 28 to replace Labor Secretary Marty Walsh, who stepped down in March. She was previously confirmed by the Senate to serve as the deputy secretary of labor on July 13, 2021. It estimated a more widespread strike along the West Coast could cost approximately $1 billion per day.
Persons: Julie Su, Biden's, Su, Su's, Biden, Marty Walsh, Suzanne Clark, Paul Brashier Organizations: Health, Education, Labor, Capitol, California Labor, Workforce Development Agency, Warehouse Union, Pacific Maritime Association, The Department, United Mine Workers, AFL, Senate, Los Angeles Chamber of Commerce, National Retail Federation, National Association of Manufacturers, . Chamber of Commerce, U.S . Chamber of Commerce, ILWU, Canadian, Logistics, ITS Logistics Locations: Washington , U.S, West, West Coast, Los Angeles, Long, U.S, ILWU Canada, Canadian West Coast, Panama, East
In a landslide vote, over 99% of ILWU Canada union workers critical for West Coast port operations, including in Vancouver and Prince Rupert, voted in favor of supporting a strike. The biggest port to be affected is the Port of Vancouver, the largest port in Canada. It is estimated that Canadian West Coast ports handle almost $225 billion worth of cargo a year, with items transported by rail including many consumer products, from apparel to electronics and home goods. The threat of a strike is occurring as labor tensions have escalated at U.S. West Coast ports. "This is a significant blow to operations on the West Coast," said Paul Brashier, vice president of drayage and intermodal at ITS Logistics.
Persons: Prince Rupert, Port of Prince Rupert, Prince Rupert Port Authority's, Brian Friesen, Berkshire Hathaway, Port, slowdowns, Paul Brashier, Adil Ashiq Organizations: ILWU, British Maritime Employers Association, Federal Maritime Conciliation, Port, Vancouver, Vancouver Fraser Port Authority, U.S, BNSF, U.S ., Pacific Maritime Association, ITS Logistics, Cargo, MarineTraffic, CNBC Locations: ILWU Canada, West Coast, Vancouver, of Vancouver, Canada, Canadian, Vancouver Fraser, U.S, Port of Vancouver, Port of, West, CN, Canadian Pacific, Berkshire, U.S . West Coast, Port, Seattle, Midwest, Chicago, Panama, East, North America
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
Tugboats guide the Mediterranean Shipping Co. (MSC) Mia container ship arriving at the Port of Los Angeles in Los Angeles, California, U.S., on Wednesday, April 1, 2020. The number of vessels due to dock at the Port of Los Angeles and Long Beach is increasing as labor slowdowns at West Coast port terminals have impacted supply chain operations, from trucks to rails and ocean carriers. Data from MarineTraffic shows that vessel problems are shifting from isolated to more pervasive. He said these vessels have yet to be loaded/offloaded and sent away, critical to make room for the next wave of vessels heading to Los Angeles. At the Port of Los Angeles, the CMA CGN Lyra has been at the dock since May 31; CMA CGM Amerigo Vespucci has been there since June 1.
Persons: Adil Ashiq, Lyra, Amerigo Vespucci Organizations: Mediterranean Shipping Co, Port, Marine Exchange, Southern, Vessel Traffic Service, North, MarineTraffic, MSC, CNBC, Tesla, CMA, Ports Locations: Port of Los Angeles, Los Angeles , California, U.S, Long, West Coast, Port of Long, Southern California, Los Angeles, LA, North America, of Los Angeles, Europe, Port of Oakland
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
The Port of Long Beach is the second-busiest U.S. container terminal and a key driver of economic activity. That industry accounts for about half of the volume at the nation's container ports and is gearing up for back-to-school, Christmas and key sales events. That facility is majority owned by container shipping giant Mediterranean Shipping Company SA (MSC). Pacific Container Terminal, owned by Carrix Inc's SSA Marine, was closed on Monday for normal operational reasons having nothing to do with labor, terminal general manager Randy Galosic told Reuters. Many West Coast terminals are fully or partly owned by those shipping companies.
Persons: Biden, dockworkers, David French, TTI, Lee Peterson, Randy Galosic, Lisa Baertlein, Will Dunham, Chizu Organizations: National Retail Federation, Mediterranean Shipping Company SA, Warehouse Union, Coast, Container, Carrix, SSA, Reuters, ILWU, Long, Thomson Locations: ANGELES, West Coast, Southern California's Port, Long, Oakland , California, California, Washington, TTI, Los Angeles, Oakland, Long Beach, West
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