WEEK 35 MARKET UPDATE

NEW ALL-ELECTRIC CONTAINER CRANES ARRIVE AT PORT OF SAVANNAH 

Four new Super Post-Panamax ship-to-shore (STS) container cranes arrived at the Port of Savannah. Part of $1.9 billion in infrastructure improvements that will help boost capacity at the port. The addition the cranes will bring Port of Savannah’s fleet to 34 machines at the Garden City Terminal, the largest single container terminal in North America, after four older cranes are retired and recycled. “Along with the completion of our project to improve Berth 1, these cranes will help deliver faster turn times to our ocean carrier customers, including the largest vessels calling on the U.S. East Coast. “ 

JAXPORT RECEIVES $30 MILLION IN STATE FUNDS FOR NEW CRANES AT BLOUNT ISLAND 

The Port of Jacksonville will purchase two new container cranes for its Blount Island Marine Terminal after receiving $30  million in state funds from Florida legislators. The cranes are part of overall improvements to update and expand Blount  Island operations and double its current capacity to 500,000 TEU by 2025. The two cranes will replace outdated  equipment utilized by Tote Maritime. 

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PILOT PROJECT AIMS TO OPEN MORE TRUCKER SLOTS IN LOS ANGELES-LONG BEACH 

Truckers at the ports of Los Angeles and Long Beach say they’re having chronic problems securing appointment slots for  container moves, something that’s particularly frustrating now because there’s little to no congestion at the gateway’s  marine terminals. That may begin to change. The HTA and Yusen Terminals in Los Angeles met and agreed to a 60-day  pilot project designed to shorten the window for taking delivery of containers from two hours to 90 minutes.  

TRANS-PAC CARRIER RELIABILITY SLIPPED IN JULY AMID LABOR WOES, PANAMA CANAL LIMITS The on-time performance of ocean carriers working the eastbound trans-Pacific deteriorated in July to both the West  and East coasts of North America amid longshore labor disruptions in Western Canada and drought-induced draft  restrictions at the Panama Canal. Globally, schedule reliability remained unchanged month over month in July at 64.2%,  according to the Global Liner Performance report published Monday by Sea-Intelligence Maritime Analysis. That was  23.8 percentage points higher than July 2022. Schedule reliability in July improved from June in 11 of the 34 trade lanes  analyzed by Sea-Intelligence. 

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DOMESTIC INTERMODAL VOLUMES JUMP IN EARLY DAYS OF NEW MEXICO RAIL SERVICES Domestic intermodal volumes originating in Mexico have been on the rise in recent months since the May debut of two  new services launched by competitors Canadian Pacific Kansas City (CPKC) and Canadian National (CN). Since CPKC’s  Mexico Midwest Express and CN’s Falcon Premium services were launched in May, intermodal volume out of Mexico has  surged 34% year over year through the end of July, according to data from the Intermodal Association of North America  (IANA). Volume from Mexico to the US Midwest specifically has risen 25% during that time, while domestic intermodal  volumes across North America have fallen 4.5%.

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