By Mike Wackett (The Loadstar) - Despite the escalating US/China trade war, the ten biggest US container ports posted a surprisingly robust 2.7% year-on-year import throughput growth in July, for a cumulative 1,865,645 teu. However, analyst John D McCown, of consultancy Blue Alpha Capital, still believes that the impact of tariffs on Chinese imports “will become dramatically … [Read more...]
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Transpacific Rates Take a Tumble as Trade War Ripples Spread
By Alexander Whiteman (The Loadstar) - Efforts to push rates up on Asia-North Europe trades are still failing, and carriers are now also beginning to feel the pinch from the China-US trade wars. The Shanghai Containerised Freight Index (SCFI) today recorded spot rates for North Europe virtually unchanged, up just 0.2% to $812 per teu. While this modest increase will allay … [Read more...]
Tariff Delay May Mean Relief for U.S. West Coast Ports
By Alexander Whiteman (The Loadstar) - West coast US ports suffered last month, but there may be some relief with the news that the US government is rethinking plans for further tariffs in September. The port of Long Beach experienced a 9.7% volume drop in July, handling 621,780 teu, and executive director Mario Cordero pointed the finger of blame in just one … [Read more...]
Fire Erupts on APL Containership Off India
By Alexander Whiteman (The Loadstar) - Fire has swept through several containers aboard the APL Le Havre just days after carriers announced they would impose heavy fines on misdeclared dangerous goods. The Ministry of Defence in Gujarat State said fire had forced a diversion of the 10,100 teu vessel on Friday night, after it left Karachi en route to Mumbai. Reports claim … [Read more...]
More Carriers to Fine Rogue Shippers for Misdeclared Goods in Containers
By Alexander Whiteman (The Loadstar) - Carriers are cracking down on rogue shippers by threatening significant financial penalties for misdeclared shipments, following a series of vessel fires. Evergreen was first out of the gates announcing fines, ranging from $4,000 to $35,000, for misdeclarations, with Hapag-Lloyd and OOCL following suit. TT Club risk management … [Read more...]