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French container line CMA CGM sees the ownership of cargo terminals at U.S. ports as the next step in its bid to extend its shipping business into greater inland logistics. “Port terminals are an essential piece of the supply-chain efficiency, being at the crossroads of sea and land operations,” said Christine Cabau Woehrel, CMA CGM Group’s executive vice president of operations and assets. CMA CGM earned $17.9 billion in net profits in 2021 and its earnings in the first three quarters of this year reached more than $20.4 billion. The purchases come as CMA CGM is spending billions to buy logistics operations and more recently launch an airfreight service. China’s Cosco Shipping Ports has expanded its terminal operations around the world in concert with expansion by state-owned Cosco Shipping Lines.

☆ Freight railroad service is terrible, even without the threat of a strike
▼ + stars: | 2022-12-11 | by ( Chris Isidore | ) edition.cnn.com time to read: +9 min

But that doesn’t mean freight railroads are providing good service to their customers. Many of the problems tangling up the supply chain, driving up prices and slowing the economy can be traced to the steady decline in freight rail service in recent years. Some experts who represent rail customers who have complained about service in the past say service has gotten better since earlier this year. “The national freight rail network is broken, and the need for long-term rail reform is clear. Union Pacific (UNP), Norfolk Southern (NSC) and Berkshire Hathaway’s (BRKA) Burlington Northern Santa Fe all reported record earnings in 2021.

☆ California Long Ruled U.S. Shipping. Importers Are Drifting East.
▼ + stars: | 2022-12-10 | by ( Paul Berger | Photographs David Walter Banks For The Wall Street Journal | ) www.wsj.com time to read: +13 min

Abercrombie & Fitch Co. is moving more merchandise through New York and New Jersey to avoid West Coast bottlenecks. It trailed its East Coast rival again in that measure during September and October, according to the Pacific Merchant Shipping Association and ports data. ”There are so many customers that got so screwed because they were entirely reliant on L.A. and Long Beach.”The logistical challenges of spreading imports along the East Coast and the Gulf Coast are massive. The shift in trade to the East Coast marks a return to where container ships originated. Then the U.S. began importing more goods from Europe, making an Atlantic Ocean crossing to various East Coast ports more critical.

☆ The busiest port in America is no longer on the West Coast
▼ + stars: | 2022-12-09 | by ( Vanessa Yurkevich | ) edition.cnn.com time to read: +6 min

Since August, imports into the two major West Coast ports – Los Angeles and Long Beach – have declined. That cargo is now flowing into Gulf Coast ports like Savannah and New Orleans, and East Coast ports in New York and New Jersey. Around 20,000 dockworkers at West Coast ports, including Los Angeles and Long Beach, have been working without a contract since July 1. The jam at the West Coast ports delayed Americans getting goods and sent prices higher as demand outpaced supply. But until the labor dispute is resolved on the West Coast, it will be a challenge to lure importers back.

☆ France's CMA CGM to buy New York, New Jersey terminals from Canada's GCT
▼ + stars: | 2022-12-07 | by ( ) www.reuters.com time to read: +1 min

Dec 6 (Reuters) - CMA CGM, one of the world's largest container shipping lines, said on Tuesday that it has agreed to acquire two container terminals at the port of New York and New Jersey from Global Container Terminals (GCT), which will extend its presence in a crucial hub for trade. According to Bloomberg, which first reported the news, the deal could fetch around $3 billion. In a statement, CMA CGM said acquired ports in Staten Island, New York, and Bayonne, New Jersey, have a combined capacity of 2 million twenty-foot-equivalent units per year, and has a potential for further expansion, up to almost double capacity. Like its shipping rivals, CMA CGM has extended its presence along the logistics chain in port infrastructure and non-maritime transport services. Reporting by Kanjyik Ghosh and Akriti Sharma in Bengaluru; Editing by Christian Schmollinger and Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.

☆ Port of Los Angeles director on cargo capacity, shifting ships to the east coast
▼ + stars: | 2022-12-05 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPort of Los Angeles director on cargo capacity, shifting ships to the east coastGene Seroka, Port of Los Angeles executive director, joins CNBC's 'Squawk Box' to provide an update on the operations at the port as some shippers shift their cargoes to the east coast.

☆ California Looks to Ban Diesel Trucks at Ports by 2035
▼ + stars: | 2022-11-20 | by ( Paul Berger | ) www.wsj.com time to read: +6 min

An ambitious California plan to require trucking fleets in the state to switch from diesel to electric power faces a potential backup at charging stations. Requiring that dealers and truckers make the switch should give companies confidence to invest in charging stations, Mr. Brasil said. The trucks tend to cost two or three times as much as diesel trucks, which retail for about $150,000. State officials say they have funded 200 charging stations for medium- and heavy-duty trucks so far and that many more are being funded by private companies. Write to Paul Berger at paul.berger@wsj.comCorrections & AmplificationsThe Port of Los Angeles expects to install a small number of charging stations for electric trucks.

☆ 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.

☆ Imports Into Southern California’s Ports Plunged 26% in October
▼ + stars: | 2022-11-15 | by ( Paul Berger | ) www.wsj.com time to read: +3 min

Imports into the nation’s busiest container port complex in Southern California are plummeting as U.S. trade sputters and retailers and manufacturers shift their supply chains amid increasingly contentious West Coast port labor negotiations. Importers have said they are avoiding West Coast ports because previous contract talks have turned contentious and led to cargo slowdowns. Over the past few months, several West Coast ports have experienced sporadic work disruptions, although port officials say overall container movements remain steady. The declines are a contrast to East Coast ports that continue to see strong cargo volumes. That has also contributed to the recent decline in cargo volumes during what is normally a peak season for ocean shipping.

☆ Port of Los Angeles October imports tumble, pressured by labor worries
▼ + stars: | 2022-11-15 | by ( Lisa Baertlein | ) www.reuters.com time to read: +2 min

[1/2] Stacked containers and cranes are shown at the Port of Los Angeles in Los Angeles, California, U.S. November 22, 2021. Seaports like New York/New Jersey, Savannah and Houston have benefited from the uncertainty surrounding ongoing West Coast port labor talks and continue to report robust results. The biggest drag was from incoming "cargo that has shifted to the East and Gulf Coasts due to protracted labor negotiations" between West Coast port workers and their employers, Seroka said. Year-to-date volume is down almost 6% versus 2021, when Los Angeles port volume hit an all-time annual high. Reporting by Lisa Baertlein in Los Angeles; Editing by David GregorioOur Standards: The Thomson Reuters Trust Principles.

☆ 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.

☆ Union vs. Union Dispute Stalls West Coast Port Labor Talks
▼ + stars: | 2022-11-08 | by ( Paul Berger | ) www.wsj.com time to read: +4 min

A dispute between two unions over which workers get certain jobs at a cargo-handling terminal at the Port of Seattle is holding up labor talks between West Coast dockworkers and their employers. West Coast port labor talks are often fraught. Importers are already diverting some goods to Gulf Coast and East Coast ports because of the risk of labor strife. The port talks are taking place against a backdrop of global freight labor unrest. West Coast dockworkers have been working without a contract since the most recent labor agreement expired in early July.

REUTERS/Lucy NicholsonHOUSTON/SINGAPORE, Nov 3 (Reuters) - Deliveries of U.S. crude oil to Asia are set to touch a record 1.8 million barrels per day this month, Kpler shipping data showed, as demand climbed on a widening discount to global oil. Refiners in China, India and South Korea are returning as big U.S. crude oil buyers after several months of scooping up cheap Russian barrels. Overall, U.S. crude exports last week touched a weekly record of 5.1 million barrels per day (bpd), boosted by higher shale production. South Korea is set to import a record 619,000 barrels per day (bpd) of U.S. crude oil, according to Refinitiv, becoming the month's top Asian importer of U.S. crude. U.S. oil production was 11.98 million bpd in August, the latest month of official figures, as producers raise activity after pandemic cutbacks.

As tensions over the nine-month-old war worsen, NBC News looks at what a dirty bomb actually is, the damage it can cause and whether it can render any military advantage. What is a dirty bomb? A dirty bomb, also known as a “radiological dispersion device,” is defined as a conventional weapon that has been augmented with a radioactive material. The psychological damage from deploying a dirty bomb in Ukraine would probably be far-reaching, according to Plant. The Russain defense minstry said Monday that Kyiv has the “scientific, technical and industrial potential” to create a dirty bomb.

☆ Rail cargo is still lagging, but the delays are shortening, says Port of Los Angeles' Gene Seroka
▼ + stars: | 2022-10-24 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRail cargo is still lagging, but the delays are shortening, says Port of Los Angeles' Gene SerokaGene Seroka, Port of Los Angeles, joins 'The Exchange' to discuss port problems and supply issues still plaguing the U.S.

☆ Terawatt plans electric truck charging stations from LA to El Paso
▼ + stars: | 2022-10-20 | by ( Joseph White | ) www.reuters.com time to read: +2 min

DETROIT, Oct 20 (Reuters) - Terawatt Infrastructure will develop a U.S. network of charging stations for medium and heavy trucks along Interstate 10 between Los Angeles and El Paso, Texas, the electric vehicle charging startup said on Thursday, anticipating a significant increase in electric truck traffic along that largely desert corridor. Register now for FREE unlimited access to Reuters.com RegisterTerawatt is aiming to have charging stations fully running by 2024, Palmer said. Terawatt plans stations that could accommodate hundreds of trucks a day and offer amenities for waiting drivers, Palmer said. Charging stations capable of serving a medium or heavy-duty truck will require "significant investment" to bring adequate electric power to the site, Palmer said. Palmer said Terawatt will seek federal funding made available in the Biden administration's infrastructure bill and Inflation Reduction Act for electric vehicle charging development.

☆ Biden calls testimony from Jan. 6 committee hearing 'devastating'
▼ + stars: | 2022-10-16 | by ( Summer Concepcion | ) www.nbcnews.com time to read: +2 min

President Joe Biden said Saturday that he found testimony presented during the House Jan. 6 committee’s hearing last week to be “devastating” and that the panel has made an “overwhelming” case. But it’s— I think it’s been devastating," he said. I’ve not spoken with him at all.”The committee’s hearing Thursday — the last before the midterm elections — delve into former President Donald Trump’s mindset as the violence at the Capitol unfolded on Jan. 6, 2021. Former Trump White House aides testified that Trump privately knew he had lost the 2020 election, despite espousing false claims of widespread election fraud. The hearing concluded with the committee voting unanimously to subpoena the former president for documents and testimony.

☆ Ports are the perfect place for electric trucks to scale, but getting drivers on board could be a long haul
▼ + stars: | 2022-10-11 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +6 min

Then, electric trucks started to get real. That's where electric trucks come in. Why ports are a perfect fit for electric trucks — almostPorts are an ideal place to employ electric trucks at scale because the job of a port trucker matches the capability and limitations of an electric truck. Cordero said the Port of Long Beach, combined with the neighboring Port of Los Angeles, would raise $90 million a year in fees. But even with many unanswered questions, it's a great time to get serious about changing out trucks, Cordero said.

☆ Choked-Up Yards and Trailer Shortages Box In America’s Truckers
▼ + stars: | 2022-10-08 | by ( Paul Berger | ) www.wsj.com time to read: +8 min

“There’s a lot more hours and a lot more waiting, just because there’s no chassis.” Mr. Carrera said. Mr. Carrera uncouples a truck trailer, known as a chassis, from his rig at a yard outside Chicago. Mr. Carrera works as an independent owner-operator for California Cartage, a subsidiary of NFI Industries, a Camden, N.J.-based logistics and trucking operator. Mr. Carrera arrived at the container yard that held the Michaels box at about 6:45 a.m. His was the seventh truck in line when the yard opened. There was another empty container waiting nearby that needed to be picked up.

☆ 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.

☆ U.S. core capital goods orders surge in August
▼ + stars: | 2022-09-27 | by ( ) www.reuters.com time to read: +1 min

Orders for non-defense capital goods excluding aircraft, a closely watched proxy for business spending plans, surged 1.3% last month, the Commerce Department said on Tuesday. These so-called core capital goods orders gained 0.7% in July. Economists polled by Reuters had forecast core capital goods orders rising 0.2%. Register now for FREE unlimited access to Reuters.com RegisterCore capital goods shipments rose 0.3% after climbing 0.6% in July. Core capital goods shipments are used to calculate equipment spending in the gross domestic product measurement.

☆ U.S. core capital goods orders accelerate in August; shipments rise
▼ + stars: | 2022-09-27 | by ( Lucia Mutikani | ) www.reuters.com time to read: +4 min

REUTERS/Mike BlakeSummarySummary Companies Core capital goods orders increase 1.3% in AugustCore capital goods shipments rise 0.3%Durable goods orders fall 0.2% on transportation dragWASHINGTON, Sept 27 (Reuters) - New orders for U.S.-manufactured capital goods increased more than expected in August, suggesting that businesses remained keen to spend on equipment despite higher interest rates, which could keep the economy on a moderate growth path. Data for July was revised higher to show these so-called core capital goods orders gaining 0.7% instead of 0.3% as previously reported. Economists polled by Reuters had forecast core capital goods orders rising 0.2%. Core capital goods shipments rose 0.3% after climbing 0.6% in July. Core capital goods shipments are used to calculate equipment spending in the gross domestic product measurement.

☆ 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.

☆ U.S. current account deficit in shrinks in second quarter
▼ + stars: | 2022-09-22 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Lucy NicholsonWASHINGTON, Sept 22 (Reuters) - The U.S. current account deficit narrowed sharply in the second quarter amid a surge in goods exports, data showed on Thursday. The Commerce Department said that the current account deficit, which measures the flow of goods, services and investments into and out of the country, contracted 11.1% to $251.1 billion last quarter. The current account gap represented 4.0% of gross domestic product, down from 4.6% in the January-March quarter. GDP contracted at a 0.6% annualized pace in the second quarter after declining at a 1.6% rate in the January-March quarter. Primary income receipts rose $21.1 billion to $299.1 billion, while payments of primary income increased $16.2 billion to $255.5 billion.

But that doesn’t mean that the freight railroads are providing good service to their customers. Many of the problems tangling up the supply chain, driving up prices and slowing the economy can be traced to the steady decline in freight rail service in recent years. “Railroads understand that service is not at the level customers expect or deserve. “”I’m told by a lot of our members that this has been the worst rail service year in their careers. For rail customers there is basically no alternative for the products they ship.

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