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Week 37 Freight Updates

September 15th, 2021

A new IHS Markit report titled Port Performance Data has revealed just how swamped the world’s most popular gateways have become over the course of the pandemic. According to The Loadstar, “vessel exchanges–containers handled–at major U.S., North European, and Asian ports jumped between 10% and 70% in the first half of the year on the same period of 2020.”

The ports of Los Angeles and Long Beach are particularly overloaded and will likely remain that way until they can get the critical assets they need to offset the growing backlog of vessels—with a reported 49 container ships currently at anchor. Over in Shanghai, ports have more than just congestion to deal with as officials adjust operations to prepare for the coming Typhoon Chanthu.

And the toll all this chaos is taking on today’s shipping rates is astronomical, driving the cost of chartering a container ship up to $195,000-$202,000 a day for some. In other news, the FMC has finally named the 24 exporters and importers it selected for its Shipper Advisory Committee to help “advise the agency on the competitiveness, reliability, integrity, and fairness of the international ocean freight delivery system.”

To learn more about this week’s top international shipping industry news, check out the following article highlights:

Huge jump in number of boxes needing handling adds to pressure on terminals

Huge jump in number of boxes needing handling adds to pressure on terminals

The number of containers moved per vessel call has increased exponentially during the pandemic, placing enormous pressure on ship working and landside operations, according to a new IHS Markit report.

Record LA-LB cargo volumes heighten need for more assets (sub. required)

Record LA-LB cargo volumes heighten need for more assets (sub. required)

Chassis providers and railroads must increase the capacity and assets they deploy in Southern California in the months ahead, or the busiest — and most congested — U.S. gateway will face another year of supply chain disruptions.

Shanghai Halts Some Port Operations and Flights on Typhoon

Shanghai Halts Some Port Operations and Flights on Typhoon

Shanghai has halted some container port operations and will cancel most flights Monday and Tuesday as Typhoon Chanthu approaches the city, which is China’s financial capital and a major shipping hub.

Container sector is so hot that ships rent for $200,000/day

Container sector is so hot that ships rent for $200,000/day

You can buy a brand-new Ferrari starting at $250,000. To rent a 12-year-old container ship for a mere three months, it could cost you a lot more than that: as much as 68 new Ferraris.

FMC picks 24 shippers to advise it on container issues

FMC picks 24 shippers to advise it on container issues

On Thursday, the FMC revealed the 24 members of the National Shipping Advisory Committee. Members include Target, Amazon, Tyson Foods and Blue Diamond Growers. They will serve until Dec. 31, 2024.

2021-09-14T17:02:36+00:00September 15th, 2021|Shipping News|
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