Spot Rates Jump as Shippers Rush to Beat Tariff Clock
Container freight spot rates shot up on the transpacific trades this week, with an immediate surge in demand following news of a new 90-day hiatus in the China-US trade war.
United Parcel Service has announced its participating in a short sea shipping pilot program to move trailers by barge across New York harbor, avoiding busy roadways and taking trucks off the road.
The trial, which is being conducted in partnership with the U.S. Department of Transportation’s Maritime Adminstration, Red Hook Terminals, Hughes Marine, and the New York City Economic Development Corporation, involves moving 5 trailers round-trip across New York Harbor from Red Hook, Brooklyn to Bayonne, New Jersey—a 4.5 mile journey.
By travelling across New York Harbor by barge (i.e. short sea shipping), trucks can avoid travelling on longer and more congested routes, including over the Verrazzano-Narrows Bridge in this case, as well as helping to reduce the number vehicles on the road and lower emissions.
Read Next: Short Sea Distribution, New York’s $40+ Million Shipping Prize
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