PORT FEES FOR CHINESE SHIPS MAY PROMPT GENCO TO LEAVE US MARKET Genco is the largest U.S.-headquartered bulker operator and has a substantial number of Chinese-built vessels in its fleet. As such, it is exposed to the proposed port fees on Chinese tonnage, written by the Office of the U.S. Trade Representative (USTR). If the …
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 …
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