Us West News

The collapse of the Francis Scott Key Bridge in Baltimore has caused supply chain disruption on the US East Coast but, so far, it has not seen an increase in ocean freight container shipping rates.Data released Monday by Xeneta reveals average spot rates from the Far East into the US North East Coast (including Baltimore) have fallen slightly (-1%) since the bridge collapse on March 26 to stand at USD 5,421 per FEU (40ft shipping container).When including other US East Coast ports such as New York / New Jersey…

Ocean Network Express (ONE) has announced its Transpacific service starting from February 2025 which will deploy 16 core weekly services.“The emphasis will be on quality end-to-end direct services with high schedule reliability.

Asia's imports of crude oil are expected to rise to the highest in 10 months as heavyweights China and India lifted arrivals from Russia, but impending maintenance schedules and rising prices mean such levels may not be sustained.The world's top importing region is forecast to see arrivals of 27.48 million barrels per day (bpd) in March, up from 26.70 million bpd in February and January's 27.18 million bpd, according to data compiled by LSEG Oil Research.The bulk of oil arriving in March was arranged before the current increase in prices…

This spring, Fincantieri Marine Repair (FMR) is expanding its presence to the Port of Everett with a new facility to support U.S. Navy assets.On March 12, the Port of Everett Commission unanimously approved a new one-year lease to establish an FMR office at the Port’s Marina Village at Waterfront Place.The U.S. Navy plans to homeport up to 12 new Constellation-class guided-missile frigates at Naval Station Everett, adjacent to the Port of Everett’s international Seaport. The FMR…

Growth in demand for container shipping imports from China into Mexico in January 2024 increased by 60% compared to 12 months ago, further fuelling suspicions it has become a back door into the US.According to analysts at Xeneta, 117,000 TEU was shipped in January of this year compared to 73,000 TEU in January 2023 (source: Container Trades Statistics).Annual growth in container shipping between China and Mexico had already increased by 34.8% in 2023 compared to just 3.5% in 2022.Peter Sand…

Spiraling ocean freight rates from the Far East to the United States, caused by the Red Sea crisis, may have peaked, with some relief on the horizon emerging for the shippers, according to the latest analysis from Xeneta, and ocean and air freight rate benchmarking and market analytics platform.The latest data released by Xeneta indicates a peak may have been reached after spot rates from the Far East into the US declined slightly since the last round of General Rate Increases (GRIs) were implemented at the start of February.Into the US East Coast…

Ocean Network Express (ONE) has launched a new route connecting Asia and the US West Coast: Asia Pacific 1 (AP1) as a result of sustained growth of US import volumes from Asia to the US.The AP1 service introduces direct routes from Taipei and Shekou to the U.S. West Coast. The return leg of this service boasts a rapid transit from the U.S. West Coast back to Vietnam, with an expected transit time of 19 days to Haiphong and 22 days to Cai Mep.Subject to applicable regulatory clearance…

Inbound cargo volume at the United States’ major container ports is expected to see year-over-year increases through the first half of the year despite attacks on ships in the Red Sea, according to the Global Port Tracker report released by the National Retail Federation and Hackett Associates.“Only about 12% of U.S.-bound cargo comes through the Suez Canal but the situation in the Red Sea is bringing volatility and uncertainty that are being felt around the globe,” NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said. “U.S.

Swire Shipping announced that Westwood Shipping Lines, a niche vessel operator it acquired in June 2022, has changed its name to Swire Shipping.According to Sire, the rebrand—which took effect February 1—will help Westwood to leverage synergies and capabilities in containers, networks, and projects across the global Swire Shipping network to better serve customers throughout North America, Japan, South Korea and China.“The integration of Westwood Shipping Lines reflects our continued investment and expansion in the North Pacific.

Freight going through the Suez Canal has dropped by 45% in the two months since attacks by Yemen's Houthis led shipping groups to divert freight, disrupting already strained maritime trading routes, according to UN agency UNCTAD.UNCTAD, the United Nations Conference on Trade and Development, which supports developing countries in global trade, warned of risks of higher inflation, uncertainty of food security and increased greenhouse gas emissions.Shipping companies have diverted ships from the Red Sea since the Iran-aligned Houthi movement…

The U.S. government has awarded a major grant to the Humboldt Bay Harbor, Recreation, and Conservation District for the construction of a new marine terminal to be primarily used for floating offshore wind-related activities.The grant for the Humboldt Bay Offshore Wind MVP (Minimum Viable Port) project comes through the U.S. Department of Transportation’s Nationally Significant Multimodal Freight & Highway Projects (INFRA) grant program, which received a substantial funding increase…

Shipping industry majors Hapag-Lloyd and Maersk have signed an agreement for a new long-term operational collaboration called ‘Gemini Cooperation’, which will start in February 2025.The ambition is to deliver a flexible and interconnected ocean network with industry-leading reliability.The new cooperation between the companies will comprise a fleet pool of around 290 vessels with a combined capacity of 3.4 million containers (TEU). Maersk will deploy 60% and Hapag-Lloyd 40%, the shipping giants said.As a part of the agreement…

Automakers Tesla and Geely-owned Volvo Car said they were suspending some production in Europe due to a shortage of components, the first clear sign that attacks on shipping in the Red Sea are hitting manufacturers in the region.The United States and Britain launched a series of strikes on Yemen on Thursday, aimed at the Iran-backed Houthi militia whose attacks on international shipping have disrupted one of the world's most important shipping routes.Container shipping rates jumped…

Container shipping rates for key global routes have soared this week, with U.S. and UK air strikes on Yemen stirring concerns of a prolonged disruption to global trade in Red Sea, one of the world's busiest routes, industry officials said on Friday.U.S. and British warplanes, ships and submarines launched dozens of strikes across Yemen overnight in retaliation against Iran-backed Houthi forces for attacks on Red Sea shipping, widening regional conflict stemming from Israel's war…

Ocean freight rates are surging after a missile attack and attempted hijacking of a Maersk ship this weekend prompted carriers to suspend plans to restart transits through the Red Sea, a key artery to the vital Suez Canal trade route.Yemen-based Houthi militants have been attacking high-value cargo vessels in the Red Sea since November in a show of support for Palestinian Islamist group Hamas fighting Israel in Gaza. It has forced ships to reroute around the southern tip of Africa…

Analysts and commentators are quick to point out that fossil fuels will power maritime equipment, and indeed dominate the fueling marketplace, well into the future. However, they will do so alongside new fuels, and new technologies, that will be introduced to the maritime sector in the coming years. In its September, 2023 report “Beyond the Horizon: View of the Emerging Energy Value Chains”, the American Bureau of Shipping (ABS) explains that, “During the recent 80th meeting of the Marine Environment Protection Committee (MEPC 80)…

Oil prices were little changed on Tuesday as investors eyed the impact on oil supply after attacks by Yemen's Iran-aligned Houthi militants on ships in the Red Sea disrupted maritime trade and forced companies to reroute vessels.Brent crude futures rose 6 cents to $78.01 a barrel at 0726 GMT. The front-month U.S. West Texas Intermediate crude futures contract , which expires on Tuesday, fell 18 cents to $72.29 a barrel. The more active second-month contract dropped 10 cents, or 0.1%…

Oil rose on Tuesday as an attack by the Iran-aligned Houthis on a chemical tanker escalated geopolitical tension in the Middle East, though concerns over excess supply and slowing demand kept a lid on gains.A cruise missile launched from Houthi-controlled Yemen struck a commercial chemical tanker, causing a fire and damage but no casualties in the latest such attack to heighten safety risks for tankers in vital shipping lanes.Brent crude futures LCOc1 for February rose 21 cents, or 0.3%, to $76.24 a barrel by 0915 GMT, while U.S.

Swire Projects, the projects and heavy lift shipping arm of Swire Shipping, has officially launched a dedicated semi liner service connecting East Asia with the West Coast of North America.Previously offered on an ad hoc basis, the service will provide enhanced cargo connectivity and support the growing demand for reliable breakbulk and project cargo transportation into the West Coast and a gateway to the interior of the Continent avoiding the need to route cargo via the Panama Canal.Swire Projects' semi liner service connects the base ports of Qingdao and Taicang in China and ports en route…

Supply chains around the world could be at serious risk amid expected increases in the cost of ocean freight shipping during 2024.Oslo-based Xeneta has carried out in-depth analysis of the latest ocean freight rates and branded the current market as unsustainable.Xeneta CEO Patrik Berglund said: “The cost of moving goods by sea has plummeted during 2023 by almost 60% for long term contracts on a global level and some corridors, such as the Transatlantic into US East Coast and Far East to Europe…

UK-based company Tugdock has signed a Memorandum of Understanding with Salamander floating offshore wind farm to collaborate on innovation for floating offshore wind energy in Scotland.Tugdock, based in Cornwall, UK, has patented marine buoyancy technology that enables heavy marine structures to be built or assembled and loaded-out in ports with water depth or space restrictions.Salamander Offshore Wind is a joint venture development project between Simply Blue Group, Ørsted and Subsea7, which is developing a floiating wind farm to be located offshore from Peterhead in North-East Scotland.

Cargo volume at the Port of Los Angeles jumped from July to August after business lost during the now-finished West Coast labor talks began returning, the top executive at the nation's busiest ocean trade gateway said on Thursday.That data comes as seaports on the U.S. West Coast are battling to regain market share lost to rivals on the East Coast and the Gulf of Mexico during the 13-month union negotiations, and as ocean cargo volumes tumble from early pandemic highs.In August, the Port of Los Angeles handled 828,016 20-foot equivalent units, a measurement standard for ocean cargo.

U.S. West Coast ports, which reached a labor deal with their workers this summer, gained market share in August from the previous month, while their main rivals on the East Coast lost ground, Descartes Systems Group DSG.TO said on Monday.For more than a year, as worker labor talks dragged on, West Coast ports lost market share. Worried shippers diverted containers filled with everything from furniture to food to ports on the East Coast and Gulf of Mexico.Some shippers told Reuters…