ONE READIES INDIA-US EAST COAST SERVICE AS PART OF 2024 NETWORK ROLLOUT
Ocean Network Express (ONE) has unveiled plans for its first standalone container service from India to the US East Coast, aimed at capitalizing on India’s fast-growing export market. ONE said in a statement on Monday that the West India North America (WIN) service will offer weekly routes beginning in May 2024 from India’s west coast ports of Hazira, Nhava Sheva, and Mundra to the US East Coast, with calls at New York-New Jersey, Savannah, Jacksonville, Charleston, and Norfolk.
ASHCROFT TERMINAL TO EXPAND RAILCAR STORAGE TO ALLEVIATE VANCOUVER CONGESTION The Port of Vancouver and the operator of an inland port in British Columbia have agreed to work together to ease pressure on Canada’s largest container gateway with a new railcar storage agreement, a move that comes after years of reticence by the port authority. The deal between the Vancouver Fraser Port Authority and Ashcroft Terminal will allow better coordination of transloaded shipments at the inland port, located 186 miles from Vancouver’s marine terminals. “The organizations will work together to invest, build and operate rail infrastructure at Ashcroft Terminal to reduce congestion within the Port of Vancouver.
CONTROL OF US LTL CAPACITY IN 2024 HANGS ON SALE OF YELLOW TERMINALS
The biggest sale of trucking assets in US history was scheduled for Tuesday, but there is little clarity about who had buy the terminals. The defunct less-than-truckload (LTL) carrier, once the third-largest US LTL provider, is scheduled to auction off 174 of the terminals and other properties it owns Tuesday – that is if an auction is necessary, according to documents filed with the US Bankruptcy Court of Delaware in September. An auction would not be necessary if no bids exceed the $1.525 billion put up by Estes Express.
ASIAN AIR FREIGHT STAGES US, EUROPE RATE SURGE IN NOVEMBER
The highest air cargo rates of the year from Asia to North America and Europe are riding not on demand, but on constrained capacity due to weather disruptions and too little belly capacity on the China-United States leg, according to Netherlands-based air freight analyst World CD. Asia-North America rates rose 7% even as volume dropped 2%, and the spot rate to Europe was up 7%, although with a 4% increase in tonnage, the analyst noted in its latest weekly update. “That Asia Pacific to North America rates is up significantly despite a fall in tonnages may reflect several factors, including operations.