Industry News
East Coast ports are expected to get slammed by a lot more ships. More cargo is diverting away from the Pacific gateway in Los Angeles/Long Beach, where the ship queue has fallen to 42.
East Coast ports about to get slammed by a lot more ships
www.freightwaves.com
Congestion could go from bad to worse as liners steer a record number of container ships toward East Coast ports.OotBox a startup, has turned 10’ #shippingcontainers into offices. The company promotes them as "a space solution anywhere, from a backyard to coffee shops to hospitals." The ootBox rents its offices for as little as $500/month.
www.businessinsider.com
ootBox tiny offices are delivered by truck, and just need to be plugged into a standard outlet for full functionality.The #COVID19 lockdown in Shanghai is having a bigger effect than expected. Terminals are full of unclaimed import boxes - including boxes of much-needed frozen food for Shanghai's populace. According to the #1 ocean carrier, MSC Mediterranean Shipping Co terminals in Shanghai may be running out of available reefer container plugs and may be unable to receive more refrigerated boxes.
Strict COVID-19 Lockdown Impacts Port Operations at Shanghai
www.maritime-executive.com
Despite early official denials, the COVID-19 lockdown in Shanghai is having a significant effect on...The world’s third-largest shipping line, has announced it will stop taking scrap plastics on all of its vessels. Because receiving countries like China and its neighbors might refuse to accept the scrap plastic, shipping lines are forced to dump the cargo or carry it back where it came from, making little or no economic profit.
A major shipping line is refusing to export the West's plastic waste. Here's why it matters
www.weforum.org
Western countries may have to rethink what they do with their plastic waste as a major shipping line bans plastic exports. Could this be a watershed moment?According to Bank of America trucking demand is “near freight recession levels.” Trucks move 72% of all freight. If people aren’t buying or building as much, there’s less need for truckers, which may be an indicator of an economic downturn.
Bank of America sounding the alarm on collapsing freight demand
www.freightwaves.com
Demand for truckers has hit a 22-month low, according to Bank of America. It’s the latest indicator that a freight recession is underway.
TIME has announced its yearly list of "TIME100 Most Influential Companies of 2022." The US freight forwarder company Flexport is listed among them. The company has made $3.3 billion in revenue last year helping amid the supply-chain crisis.
time.com/collection/time100-companies-2022/6159468/flexport/
Due to the increasing number of #Covid19 cases, China has entered a new lockdown. Factories and companies have been shut down. Many logistics professionals remain concerned that shippers that haven’t placed orders yet could miss getting their goods in time for big shopping events such as back to school, Halloween, and Christmas.
www.freightwaves.com/news/crisis-or-hiccup-assessing-the-logistics-impact-of-china-lockdowns
Crisis or hiccup? Assessing the logistics impact of China lockdowns
www.freightwaves.com
COVID lockdowns in major Chinese cities are bottling up freight shipments, but the full impact on global logistics won’t be clear until this summer.
The new wave of delays and waiting times for vessels is expected to hit the West Coast in June/July. As export demand from China plummets and container spot rates come under increased pressure, the 2M Alliance is preparing to blank three Asia-North Europe sailings in the first week of May.
theloadstar.com/carriers-roll-out-more-blank-sailings-in-a-bid-to-underpin-slide-in-spot-rates/
Carriers roll out more blank sailings in a bid to underpin slide in spot rates - The Loadstar
theloadstar.com
The 2M alliance is preparing to blank three Asia-North Europe sailings next month, as export demand from China plummets and container spot rates come under increased pressure. 2M partners MSC and Maer...Growing fresh produce inside shipping containers is becoming more and more ordinary. Square Roots are partnering with Gordon Food Service to open a Kenosha farm to grow produce inside containers near the Kenosha Regional Airport.
www.kenoshanews.com
In the dead of winter, the last thing on the minds of many Kenoshans is the thought of freshly-grown produce, salads and herbs on the plate.The future is closer than many may think! #Hyperloops can help streamline urban mobility and commuting and, more importantly, improve the supply chain by quickly transporting shipping containers and reducing CO2.
More than people, hyperloops can transport shipping containers and reduce CO2
360.here.com
In the not-so-distant future, we'll be zipping between cities in minutes using the ultra-fast hyperloop. Speedy, low-consumption tube travel can also help reduce urban congestion and the CO2 contribut...The Port of Savannah is, once again, a major topic in the shipping industry. Shipping traffic jams are the main reason the port is reporting record cargo volumes for 2021.
Cargo surge pushes Port of Savannah to 5.6M container record
abcnews.go.com
The Port of Savannah is reporting record cargo volumes for 2021 thanks to a surge in trade that saw its container yard cramped for space and ships waiting at seaIn the past year, India’s exports have increased significantly. The premier container port Jawaharlal Nehru Port Trust - JNPT, handled the total traffic of 76.14 million tonnes and container traffic of 5.63 million TEUs, a growth of 25.86% over the last calendar year.
JNPT gets highest ever container traffic this year since inception
www.msn.com
“The port handled a total container traffic of 5.63 million TEUs (5,631,949 TEUs) as against 4.47 million TEUs (4,474,878 TEUs) in 2020--a growth of 25.86% over last calendar year,” said a senior ...ZIM Integrated Shipping Services, one of the top 20 global carriers, is a company with great financial potential. With an operating margin of +17.50 and a Net Margin of +12.98, they continue to draw the attention of new and prospective investors.
dbtnews.com
Wall Street Analyst Initiated ZIM Integrated Shipping Services Ltd. [ZIM]. What else is Wall St. saying Companies By Misty Lee January 28, 2022 Related Companies Cowen lifts Amazon.com Inc. [AMZN] pri...An intimate atmosphere and unique wines are offered inside Manchester, UK’s smallest wine bar, Le Social Wine. Deli-style menu, special tastings, and workshops are taking place in a shipping container, offering an unforgettable experience.
Manchester’s smallest wine bar opens this weekend in a shipping container
www.msn.com
Le Social is small but perfectly formedShipping containers may be used for carrying many different things, from unique vintage cars to electric scooters, breast implants or pumpkin seeds. Supply-chain disruptions have caused a surplus of abandoned shipping containers and created an opportunity for buying more mystery prizes.
www.businessinsider.com
One buyer compared it to "Storage Wars," telling Bloomberg he'd unearthed anything from electric scooters to breast implants and pumpkin seeds.The Port of Oakland, a major container ship facility in the San Francisco Bay, is adding a 25-acre container yard to help clear export backlog.
Port of Oakland opens 25-acre container yard to help clear export backlog
www.dcvelocity.com
Move targets agriculture industry as import surge continue to clog California ports.Affordable, sustainable, and stylish #shippingcontainer housing that became popular in 2010s is now overtaking major cities throughout Europe and the rest of the world.
Innovating with Shipping Containers
www.azobuild.com
In the last decade, an artifact from the marine and transportation industries has landed squarely on our shores.A private development team plans to build a cargo terminal on more than 300 acres of land along the Mississippi, 30 miles south of downtown St. Louis. Experts predict that the project will revolutionize Midwest shipping.
www.ksdk.com
A private development team unveiled plans to build a cargo terminal on more than 300 acres of land along the Mississippi in HerculaneumA sustainable pop-up hotel made from two 280-square-foot #shippingcontainers in Singapore offers a "very private" staycation to rest from the hustle and bustle of the busy city.
You can now sleep in a shipping container at Haw Par Villa if you dare
www.asiaone.com
Forget the usual beaches and resorts. For a staycation experience off the beaten path, you can now spend a night near one of Singapore's oldest theme parks.Pop-up hotel Shipping Container Hotel has mo...Terrible news for the coffee lovers: the #shippingcontainer shortage is impacting supply and prices of coffee in different parts of the globe. Trading company, OLAM Food Ingredients, expects roasters to start utilizing old-school shipping without containers.
Container shortage sparks coffee shipping experiment
economictimes.indiatimes.com
Staggered economic restarts during the pandemic and an acceleration of online buying has created an all-out fight for freight.Despite a 2.5% decrease in volumes, French shipping company CMA CGM group has reported an increase in Q3 profits to $5.6bn compared with $567m in the same period last year.
The Institute of Export and International Trade
www.export.org.uk
The Institute Of Export and International trade is a professional membership body offering business support, training and qualificationsCalifornia ports report progress on clearing out containers. Measures like charging $100 per day for each lingering container have made a major impact. In just one month the ports have seen a decline of 33% in aging cargo on the docks.
California ports report supply chain progress, delay fines for lingering cargo containers
www.cnbc.com
The nation's busiest port complex will delay imposing fines on carriers for containers awaiting pickup citing significant improvements in the supply chain.Bad news is good news! Forbes magazine suggests that shipping bottlenecks are expected to persist well into 2022: terrible news for shipping and logistics companies but a great opportunity for container shipping investors.
Shipping Bottlenecks Could Last Well Into 2022. That's Good News For Investors
www.forbes.com
Shipping bottlenecks are expected to persist well into 2022, driven by slow capacity growth, a shortage of containers and truckers and the ongoing semiconductor chip crunch, which has limited new truc...With #shippingcontainers being such a hot topic in the news, NPR reminds us where they are coming from and why they’ve gained such popularity in modern global supply chain.
The pandemic economy's latest victim? The lowly shipping container
www.npr.org
Delayed containers are a symptom of and contributor to global supply chain problems. But imagine a world without them.Due to the lack of truck drivers, about 1,000 #shippingcontainers are temporarily stored near Suffolk, UK waiting to be transported to the port of Ipswich. The UK government announced that it would grant up to 5,000 temporary visas for drivers from abroad to ease the supply chain issues.
Why are shipping containers stacked at sites around Suffolk?
www.bbc.com
Huge piles of shipping containers have appeared at sites across Suffolk.With almost 2 years into the #pandemic and global supply disruption in everyone's ear, The Maritime Executive explains the main reasons behind America's supply-chain shortfalls.
Four Reasons Behind America's Supply-Chain Shortfalls
www.maritime-executive.com
Walk into any U.S. store these days and youre likely to see empty shelves.Shortages of virtually eve...Increased demand for imported goods and broken supply chain resulted in #shippingcontainers piling up in certain places with not enough trucks drivers to relocate them. American Trucking Association reported a shortage of 80,000 drivers, that's a 30% increase from before the #pandemic.
Wanted: 80,000 truck drivers to help fix the supply chain slowdown
www.wdsu.com
Many drivers are retiring, dropping out of the industry. Increased consumer demand, prompting a need for more drivers, also plays a big role in the shortfall.Due to an increased demand for imports and a broken supply chain, #shippingcontainers are piling up in certain places with not enough trucks drivers to relocate them. The American Trucking Association has reported a shortage of 80,000 drivers. That's a 30% increase from before the #pandemic!
Storage containers are scarce, so toymakers are focused on small, squishy toys for the holidays
www.wdsu.com
Popular toymakers have found an easy answer to the storage container shortage: small, squishy toys.This midcentury top deck ship was recently turned into the world's biggest floating nightclub. The club is situated on the retired QE2 ocean linger in #Dubai. This modern club can be entered for free, but it comes with a hefty price tag for service.
Iconic Ocean Liner QE2 is Now the World's Biggest Floating Nightclub
www.maritime-executive.com
The classic transatlantic liner Queen Elizabeth 2 is now home to what may well be the worlds largest...Despite the fact that Port of Boston used to be one of the biggest ports on the east coast, the disruptions to the global #supplychain have made container ships and carriers temporarily bypass smaller ports - like the one in #Boston.
In global shipping crisis, Port of Boston deliveries are getting passed over - The Boston Globe
www.bostonglobe.com
Boston isn’t facing a backlog like other major US ports, but cargo from China has been arriving up to a month late. Soon, and for a couple of months, it won’t be arriving at all, as a major shippi...They say fashion repeats itself and Coca-Cola really put their mind to it. Since #shippingcontainers have been considered a luxury the past few seasons, the industry giant went back to the roots of shipping and switched to breakbulk approach of moving the materials it needs to maintain operations.
Maersk Diverts Ships and Containers as Backlog Snarls UK Ports
www.maritime-executive.com
The U.K.s largest container port is the latest port worldwide to experience the problems related to...Shipping container shortage, supply chain disruption, increased inflation and how they are all related. The New York Times shares the possibility of prolonged inflation related to the supply chain disruption.
The world’s top central bankers see supply chain problems prolonging inflation.
www.nytimes.com
The heads of the Federal Reserve, European Central Bank, Bank of England and Bank of Japan spoke on a joint panel Wednesday.New height records do not necessarily mean a good thing. Two biggest ports on the West Coast are experiencing new congestion milestone: around 100 vessels are waiting on anchor due to supply chain problems.
New Record: 100 Vessels Are Waiting to Berth at LA / Long Beach
www.maritime-executive.com
The twin ports of Los Angeles and Long Beach have hit yet another new congestion milestone: arecord...Supply chain problems have been reported for months now. The world was trying to keep up with the abnormal demand but some analysts have started warning about upcoming 'systems collapse'.
www.msn.com
"Global supply chains are beginning to buckle as two years' worth of strain on transport workers take their toll," letter from industry groups said.A $280K home built out of 5 upcycled shipping containers in Minneapolis has made it to the daily newspaper. The owner explains his drive for using shipping containers comes from their originality and uniqueness while adding that another huge factor is sustainability.
5 upcycled shipping containers make one $280K house in Minneapolis
www.startribune.com
Builder David Schiller hopes this is just the beginning for the affordable, eco-friendly structures.Extra ships, extra delays, and extra profits. #Covid19 has shown that the world has entered the 'extra' phase, but no one knows how long it will last.
Container Shipping: Record Delays, Record Profits
www.marinelink.com
As ports and hinterland transport struggle to keep up, delays at ports are soaking up capacity leading to frustration on the shippers’…Tidy and eco-friendly shipping container housing is exactly what the doctor ordered. These five beautiful vacation spots will help you relax and recharge before the winter holidays.
Stay Inside Shipping Containers! Bookmark These Container Homes In Maharashtra For Your Next Vacay!
www.whatshot.in
Stay inside containers!Unheard of shortages and shipping delays are threatening the holiday spirit. To ensure Santa comes on time, large retailers like Costco Walmart and The Home Depot have rented out their own shipping containers and started considering different ports of entry.
Costco, Walmart rent out own shipping containers amid supply chain hiccups ahead of holidays
abcnews.go.com
Holiday shipping could be slowed down due to supply chain issues with cargo ship delays and labor shortages.For the past 18 months, #shippingcontainers were among the hottest items on the planet. Supply chain disruption, shortage of labor, and increased demand led to the increased popularity of six-sided metal boxes.
How the pandemic turned humble shipping containers into the hottest items on the planet
cbs58.com
By Julia Horowitz, CNN Business (CNN) -- The 30,000 aluminum tins were supposed to show up in a 20-foot shipping container in July. Months later, they haven't arrived — and SJ HLooking for ways to start trading internationally but don't know where to start? Check out the website of the U.S. Department of Commerce. International Trade Administration posts articles about #financing, #exporting, #shipping, and much more.
www.trade.gov
Learn to sell your products overseas - assess your company’s readiness to enter your first markets, or to expand into additional markets.Digitalization continues to shape supply chains. Automation, 5G, artificial intelligence, Internet of Things, cybersecurity, extended reality, and blockchain are the words one should definitely add to their vocabulary.
Ports Navigating an Ocean of Technology
www.seaportsmag-digital.com
Seaports are navigating through an ocean of technology that...Due to the #pandemic, many industries had to adjust to doing their daily jobs online and port authorities are not an exception. Jeff Pollack, Chief Strategy Officer for the Port of Corpus Christi, said that their team greatly enjoys working online and emphasized that "we’re in a much more intimate relationship now than we would have been without #COVID."
Communications: A Whole New World
www.seaportsmag-digital.com
In the middle of the COVID-19 pandemic, the Port of Corpus...Santa might be late this year! Increased consumer demand, e-commerce explosion, port lockdowns, and travel restrictions led to an increased wait time for imported goods.
Order your Christmas presents now - the shipping crisis isn't ending anytime soon
www.msn.com
A supply chain expert explains why the backlog is going to make it nearly impossible to get gifts on time this year - unless you get a big head start.The world’s largest shipping container firm, Maersk stays true to its promise. The company committed to reducing the level of CO₂ by 40% by 2030. The firm has now ordered eight vessels that will run on a carbon-neutral fuel.
ABS to Class Maersk's Methanol-fueled Containerships
www.marinelink.com
A groundbreaking series of eight large container vessels capable of being operated on carbon-neutral methanol ordered by Maersk,…#COVID19 brought close attention to the #shipping industry. Increasing demand and better than average financial ratios indicate the possibility of ultimately great gains.
Container Shipping: Who wants to be a (multi) billionaire? | Hellenic Shipping News Worldwide
www.hellenicshippingnews.com
Drewry’s latest Container Forecaster report includes huge upgrades for freight rates and carrier profits as market faces extended period of under supply. The latest edition of Drewry’s Container F...Let’s talk about record breaking freight rates! What should one expect to pay to ship a group of standard #containers from Shanghai to Los Angeles? $32,000!
Are You Shipping Me?!? $32,000 Container Move From China To LA
finance.yahoo.com
The blows to the global supply chain never seem to end in 2021, resulting in delays that have sharply reduced the system's effective capacity and put upward pressure on shipping rates that began reach...Ready for some #margaritas after a long week? The City of Oak Creek, WI, is planning to repurpose the use of a #shippingcontainer and use it as a double-decker container bar.
Jim Dandy's Wants To Create Shipping Container Bar
patch.com
The container likely won't make it this summer, but the restaurant owner said he hopes to use it in winter and next summer.Pour me one!
Maersk, the world’s biggest container shipping company, forecasts full-year demand growth of 6-8%. Will consumers be able to handle this increase, or have we reached the peak already?
Maersk lifts outlook as supply chain disruptions push up shipping rates
wsau.com
COPENHAGEN (Reuters) - The world's biggest container shipping company, A.P. Moller-Maersk, on Monday lifted its full-year earnings outlook after repor...#ShippingContainer prices might seem quite high this year. Nasdaq shows that investors can take advantage of it by investing their money in a #Shipping stock.
4 Shipping Stocks To Buy As the Global Economy Gains Steam
www.nasdaq.com
InvestorPlace - Stock Market News, Stock Advice & Trading TipsWe all know port congestion is nothing new. As of today, North American cargo ships spend close to 33 hours at anchor, opposed to only eight hours in 2019!
Time Containerships Spent Waiting for Berths Doubled in Two Years
www.maritime-executive.com
Port congestion and the resulting decline in liners schedule performancehas been a persistent story...The gang is back together! After more than a year of #workingfromhome due to #Covid-19, CSI Group LLC team finally got together for the first time for a summer BBQ. The evening was full of excitement, laughter and wine, making the night simply unforgettable.
The CEO of French luxury leather goods company Longchamp announced that starting in 2024, the company will entrust 50 percent of its America-bound cargo to the French sail-freighter startup. Sailing is considered a cleaner way of transporting goods, emitting 90% less carbon per voyage than a comparably-sized conventional merchant ship.
Luxury Handbag Maker Signs On for Sail-Powered Shipping
www.maritime-executive.com
French luxury handbagbrand Longchamp has agreed to entrust 50 percent of its America-bound cargo to...Extravagant sculpture located in Denver, Colorado has a much deeper meaning to it. The art is made of #shippingcontainers and is called Trade Deficit, to underline the fact that the USA is the biggest importer in the world.
Joe Riche: Trade Deficit - Demiurge LLC
www.demiurgedesign.com
Artist: Joe RichéTitle: Trade DeficitMaterials: Shipping Containers, Structural SteelFabrication + Installation: DemiurgeEngineering: KL&ALocation: Denver, ColoradoSkyrocketing #shippingcontainer prices, shortages of tapioca pearls (boba), and increased prices of the car rentals are all caused by the same factor: disruption in a global supply chain. Wendover Productions explains how are all the events interconnected with one another.
A colossal traffic jam, disruptions to supply chains, millions of dollars' worth of cargo sinks in the ocean. That is not the plot for a western movie, that is the first half of 2021 in the #shippingcontainerindustry.
Container shipping’s stranger-than-fiction first half of 2021 - FreightWaves
www.freightwaves.com
California offshore traffic jam, Ever Given, Yantian closure, skyrocketing rates and volumes … what’s next for container shipping?
Last year The Home Depot was caught by surprise by consumers’ extreme appetite for #homeimprovement during the pandemic. This year, to avoid a holiday shipping crisis, they decided to invest in their own container ship.
www.cnbc.com/2021/06/13/home-depot-contracted-its-own-container-ship-to-avoid-shipping-delays.html
How bad are global shipping snafus? Home Depot contracted its own container ship as a safeguard
www.cnbc.com
The home improvement retailer is one of many companies facing supply chain challenges and trying to find creative solutions to keep merchandise in stock.
With the US #IndependenceDay around the corner, Chinese suppliers are already worried about the Christmas shipping rush. Many western retailers who have yet to recover from #COVID19 supply-chain disruptions are now facing higher prices of transportation and inventory restocking problems.
www.wsj.com/articles/chinese-port-logjam-threatens-christmas-shipping-rush-11624307360
Chinese Port Logjam Threatens Christmas Shipping Rush
www.wsj.com
A backlog of dozens of ships around the Yantian port is expected to further rattle global supply chains.#COVID has changed the way we do a lot of things over the last year and weddings are no different! #Engaged couples have the chance to exchange their vows inside of a pink #shippingcontainer with none other than “Elvis”!
COVID threw weddings off track. One solution? Marry in a pink Seattle shipping container with Elvis.
www.seattletimes.com
When the coronavirus pandemic closed down Washington state last spring, Bronwen Stevenson shuttered her Pioneer Square business of 10 years, a Vegas-style wedding venue named Shotgun Ceremonies. Yet a...Typically a well-oiled machine, the shipping container industry just can’t catch a break!
Get Ready for Years of Chaos in Container Shipping
www.bloomberg.com
Backed up ports and the Suez Canal fiasco are just surface problems. When things go wrong in this business, they go seriously wrong.