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MAERSK SEALS 33-YEAR LEASE EXTENSION AT PORT OF NY AND NJ  AP Moller-Maersk has reached an agreement with the Port Authority of New York and New Jersey to extend APM  Terminals Elizabeth’s lease through December 2062.Originally set to expire in 2029, the 33-year lease extension “paves  the way for major infrastructure investments which will enhance …

OCEAN CONTAINER RATES SLIDE AS US TARIFFS SHADOW LOGISTICS PLANNING  The initial announcement of 25% tariffs on all U.S. imports from Mexico and Canada sent shockwaves through the  logistics industry. However, within days, the administration issued a one-month reprieve for automotive goods covered  by the United States-Mexico-Canada Agreement, later extending this suspension to all imports …

CMA CGM TO INVEST $20B IN US SHIPPING, SUPPLY CHAIN CAPABILITIES  France-based container shipping and logistic giant CMA CGM Group on Thursday announced it will invest $20 billion  over four years in its U.S.-flag fleet, port terminals, an air cargo airline based in Chicago and warehouses to align with  President Donald Trump’s goal of increasing …

FREIGHTOS: OCEAN CONTAINER RATES FALLING BUT STILL ABOVE YEAR-AGO LEVELS  Ocean container rates on trans-Pacific services to the United States are trending lower but remain elevated from year ago prices. Analyst Freightos (NASDAQ: CRGO) said Asia-U.S. West Coast rates fell 8% to $4,362 per forty-foot equivalent  unit in its Baltic Index for the week ending …

US PORT FEES THE LATEST HEADWIND FOR CONTAINER SUPPLY CHAIN   It’s a tumultuous time to be in the container supply chain, a business that lends itself not only to shopworn maritime  cliches but also time-honored truths. But to say the industry faces significant headwinds may be an understatement. The  latest shot across the bow came …

CONTAINER SPOT RATES SLIDE TO 2023 LOWS The container sector is heading into its normal post-Lunar New Year lull that typically lasts until April/May. The scale of  the drops in spot rates is large, but the sector still remains one of the more profitable shipping sectors. The weekly  Drewry World Container Index slumped 5% to …

US CONTAINER IMBALANCE WORSENS DESPITE TARIFFS   Amid escalating tensions in an ongoing trade dispute, the anticipated conversation between US President Donald Trump  and Chinese President Xi Jinping was scrapped yesterday and has yet to be rescheduled. A tariff tit-for-tat has got  underway between the world’s two largest economies with the US putting a blanket 10% …

BEIJING RETALIATES AS TRUMP’S CHINA TARIFFS KICK IN   Donald Trump’s fast-moving tariff tiffs with key trading partners continue to keep shipping executives on edge around  the world. Similar to the threats he made to Colombia a week prior, the American president yesterday put planned  tariffs against Mexico and Canada on hold for 30 days, saying …

CMA CGM TO MAINTAIN CAPE DIVERSIONS ON MAJORITY OF NETWORK   Of the top tier container lines serving the Asia – Europe trade CMA CGM is the only carrier to have maintained some  presence through the Red Sea and the Suez Canal over much of the last 14 months operating services on a case-by-case  basis. Following …

OCEAN ALLIANCE PUBLISHES 2025 SCHEDULES   The Ocean Alliance has unveiled its updated shipping network for 2025. The group – comprised of COSCO, OOCL,  Evergreen and CMA CGM – has provided customers with details of Suez and non-Suez routes as the ongoing Red Sea  shipping crisis sees most containerships steer clear of Houthi attacks in the …