WEEK 42 MARKET UPDATE

MOBILE’S BREAKBULK DOCKS FACE STRIKE THREAT AFTER TALKS WITH ILA LOCAL FAIL

The ILA’s local union at Mobile’s general cargo and breakbulk docks may walk off the job this week if a deal  can’t be reached with breakbulk stevedore CSA Equipment. 

PORT OF CHARLESTON’S HARBOR DEEPENING NEARS COMPLETION 

The deepening of Charleston’s harbour will enable the port to handle larger vessels that are carrying growing  volumes of imports from Southeast Asia and the Indian Subcontinent to the US East Coast. 

US GULF RESIN SHIPPERS GET MORE VESSEL SPACE WITH NEW CMA CGM SERVICE

CMA CGM is adding a new South America-US Gulf service that aims to restore some of the capacity lost on  that trade lane due to cutbacks over the past year. 

Ocean Freight Cargo Container

PORT HOUSTON CONTAINER VOLUMES STAY STRONG IN SEPTEMBER 

Port Houston on the U.S. Gulf Coast has reported another very strong month in September as it continued to  benefit from shifted inbound trade flows in the hangover of the pandemic-fuelled imports boom. In fact,  September marked the second-biggest month ever for containers at Port Houston, following only August  2022. Port Houston last month handled 353,525 TEUs, for a whopping 26% increase over September 2021. Port Houston, with its two Barbour’s Cut and Bayport container terminals, has been perhaps the biggest  winner of shifting trade flows, but has also not proven to be immune to congestion problems. AIS data as of  Monday showed more than 20 containerships waiting at port anchorages. In other Port Houston news…. Steel  imports used heavily by the state’s oil and gas industry were up 32% in September and year-to-date are up  76% and have surpassed 4M tons. Crude oil production in the Texas Eagle Ford region has been increasing  steadily since early this year, and Texas rig count and number of drilling permits are both up. 

PORT OF SAVANNAH SEES SIGNS OF MARKET CORRECTION 

Cargo volumes through the Port of Savannah tumbled more than 7 percent in September in part due to  impacts related to Hurricane Ian. Even so, the port closed out the quarter handling nearly 10 percent more  cargo than it did a year ago. 

The Georgia Port Authority said it expects growth to moderate in the coming months. On a positive note, an  easing of demand should help U.S. ports address vessel backlogs brought on by unprecedented import  volumes. The Port of Savannah expects to clear the need for vessels to wait at anchor by the end of November. Currently, approximately 204,600 containers are on the water headed for Savannah, down from a  high of 262,500 in July. 

US FMC proposes new demurrage and detention billing requirements 

The US Federal Maritime Commission (FMC) is proposing a new rule that seeks to bring more clarity, structure  and punctuality to the demurrage and detention billing practices of vessel operating common carriers  (VOCCs), non-vessel-operating common carriers (NVOCCs) and marine terminal operators (MTOs). The FMC  proposes adopting the list of minimum information that common carriers must include in demurrage or  detention invoices as mandated in the Ocean Shipping Reform Act of 2022 (OSRA); further defining prohibited  practices by clarifying which parties may be billed for demurrage or detention charges; and establishing billing  practices that billing parties must follow when invoicing for demurrage or detention charges.

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