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The maritime transportation industry is undergoing significant transformation, driven by the increasing need for cost reduction, enhanced operational efficiency, and growing competition within the global supply chain. In response to these pressures, major shipping companies are increasingly forming strategic alliances. million TEUs.
inventories and consumer behavior, and reconciling them with maritime supply/demand dynamics is getting harder each day. For example, recently Target was forced to write down the value of excess inventory that’s stuck in warehouses. The shipping ecosystem is ever-changing. However, the efforts to slow down inflation in the U.S.
Take for example the increased emphasis on the purchase of household goods via e-Commerce platforms. Examples of the sought-after perks include guaranteed space, sure-deal equipment, more space on the ship, and finally the ultimate prize of expedited processing. The statistics are startling.
INCOTERM 2000 Import Documentation and Procedures Export Documentation and Procedures CTPAT and Security Customs Entry Workshop Insurance and Carriers Liability Customer Service Techniques and Communication Skills Import and Export Techniques The post MTS Logistics: An Example of Great Customer Service in Shipping appeared first on More Than Shipping. (..)
For example: The global GDP growth rate for 2021 was 6.02%, a 9.1% The post Analysis: Today’s Global Economy vs. Global Container Shipping appeared first on More Than Shipping. increase from 2020. The global GDP growth rate for 2022 was 3.08%, a 2.94% decline from 2021.
Cargill uses a cool example for showing real-world impact: this smaller fuel volume produces the same lower volume of emissions as removing almost 500 cars from highways. The post A Real-World Example of Wind Power in Shipping Comes to Fruition appeared first on More Than Shipping. What did the results of the months-long test show?
For example, an analysis carried out by AIR on the potential impact of Hurricane Harvey on regional manufacturing found that, based on percentage of the total potential revenue loss, the top three subsectors are petroleum and coal products manufacturing (37%), chemical manufacturing (13%), and oil and gas extraction (12%).
For example, numerous ports are still severely congested today. So, planning in advance, choosing the right partners that present options, doing an actual cost analysis, and keeping customers educated will be the key to overcome the challenges faced in 2025. The situation is not very different at destination ports either.
Although we had seen many bad examples of the piling up strategy, due to lack of direction, these two ports are also now congested. The post Analysis: Should You Redirect Your Cargo and If So, Where? Due to the Port of Houston’s congested status, cargo that was traditionally was moving through Houston has been re-routed to U.S.
In late-January, Maritime Executive and other media outlets said that new analysis by Container xChange reveals a “positive trend in availability,” and that the container leasing platform was expecting Chinese New Year to be a turning point in the persistent container shortage. for standard 20-foot containers and 0.38 An index of 0.5
Port congestion poses significant challenges to global supply chains, maritime trade, and overall economic efficiency. For example, if a vessel is delayed due to adverse weather, port operators can adjust resource allocation accordingly. Regular maintenance prevents unexpected breakdowns and ensures that equipment remains operational.
To reduce costs and shipping delays, and to optimize inventory, manufacturers like his need to know precisely when, for example, to manufacture boxes that its retailer customer will use to ship the products it sells. The maritime industry — 90% of world trade travels by sea — is notoriously manual.
As trade has dramatically increased, the need to reduce emissions from burning fuel has become a leading global problem for the maritime shipping industry. Some examples of those new types of ships as follows: Wind-Assisted Propulsion Ships 1. There are many solutions at hand to reduce emissions from ships.
In the report, it was stated that fluctuating freight markets and interrupted deliveries put global maritime transportation under pressure, and the following statements were made: “Increasing security concerns primarily means higher premiums for the insured. Choosing alternative routes doesn’t really decrease insurance costs much.
From Shanghai to Genoa, for example, the weekly change in rate has increased from $1,956/FEU to $4,178/FEU according to Drewry Supply Chain advisors. Trade routes from Asia to North Europe and the Mediterranean have seen the most drastic week-to-week changes in spot market container freight. What comes next for rates and the industry?
The ongoing negotiations between the International Longshoremen’s Association (ILA) and the United States Maritime Alliance (USMX), might not reach a resolution before the current contract expires tonight, September 30th. These ports handle approximately 43% of all U.S.
One major example is semiconductors. Per their analysis for the last 15 years, the risk level went up from 2.0 Apart from the delays in transit times, certain commodities do not have any alternative place to switch since certain commodities are considered high-tech where they can only be produced in certain countries.
For example, receiving alerts about intentionally or accidentally opening container doors enables quick intervention to prevent damage or loss from environmental exposure. In summary, these advancements bring cargo security and supply chain resilience into the digital age, actively contributing to a safer maritime industry.
The Port of Long Beach, for example, is undergoing a $1.5 The International Maritime Organization (IMO) projects that global seaborne trade will grow by 3.4% For instance, Maersk has ordered a fleet of mega-ships, each capable of carrying over 24,000 TEUs, to improve capacity and reduce per-unit shipping costs.
Dive deeper into freight data that matters Stay in the know in the now with instant freight data reporting Sign up for Free Analysis Transpacific ocean rates were level to close November and about even with the start of the month, with prices to the West Coast 22% higher than in 2019 and East Coast rates 9% below the 2019 mark.
With the further release of container inventory into the market, for example from the disposal of leasing fleets, there will be added pressure on depots in the coming months,” container logistics expert Christian Roeloffs stated in an industry update several weeks ago. The Outlook. A blank sail, simply put, is a canceled sailing.
Maritime Alliance, the group negotiating with for the ports has offered 50% raises over the six-year life of the contract but the union has signaled that it plans on sticking with its initial 77% pay increase over six years.
Covid lockdowns proved that any disturbance in the flow of containers has enormous consequences and terminals are a good example of that. One of the biggest issues being discussed by the Federal Maritime Commission (FMC) and being debated by Congress in a pending shipping bill is detention charges.
January 1st, 2023 marked the starting date of some new regulations drafted by the International Maritime Organization (IMO), a branch of NATO, to significantly reduce carbon emissions by large oceanic shipping vessels over time. Some new IMO regulations in the shipping industry went into effect earlier this year.
For example, think about the Suez Canal. The Silk Road is a prime example of that. There are many examples that we could touch upon but the above are the two main ones. Trade through the Indian Ocean to the Mediterranean from China, India, Malaysia, etc. Not all trade routes have the same importance they once had.
According to a 2020 analysis by the Insurance Information Institute, these disruptions cost firms an average of $1.45 Statistics and Examples 1. The global shipping industry heavily relies on accurate and timely documentation, such as the Bill of Lading (BOL), to transport an astounding 11 billion tons of cargo annually.
One area to watch: rail Heading into 2024 for example, in sustainability and technology improvements, rail is standing out far more than in past years as an attractive option due to the gains it has made in service, sustainability, and technology. This has been seen with AI, robotics, and specialized software.
For example, in a flight, the wind and its direction are also considered. On the other hand, in maritime transport, the weather and route must be taken into account. Today, many companies have already launched AI tools to improve the prediction of maritime and land transport operations. For example, consider drayage movement.
Below is a real-world example of the need for human involvement in logistics. A prime example is a recent shipment handled by MTS Logistics Project Division where a lift drawing showcased lifting lugs on piece of machinery. Yet, in person there were no lifting lugs and a change of plan was needed.
For example, we are currently facing issues in the Red Sea that disrupt trade in amounts to what would be close to 15%. Either example would not be good for any of the players. Whatever comes our way, we can surely adapt to. That could mean a factory in Germany that sells goods to the U.S. Nonetheless, it has a similar effect globally.
One of the examples of this that positively affects world trade is the National Transport and Logistics Strategy announced by Saudi Arabia about two years ago. It’s well-known that the growth and development strategies of countries either develop or complicate the commercial activities of the companies operating in that region.
Federal Maritime Regulators intervened, demanding that marine terminal operators and container lines explain how they are assessing detention and demurrage. Rebecca Dye is the Federal Maritime Commissioner (FMC) and has led an investigation and fact-finding exercise concerning the management of detention and demurrage.
One example is the upcoming next-generation Logistics Hub that will house a multi-story Inland Container Depot (ICD), featuring a modern crane system, a multi-tenant logistics center, as well as a heavy vehicle park. Another example of effective collaboration is the Logistics Professional Conversion Program.
For example, after a cargo shipment starts by road, it can continue by sea or air. Some common examples include: 1. Multimodal transport supports various transport systems. This situation includes different variations or situations depending on the location of the cargo. The goods are delivered to the destination. Truck-Railroad.
Based on past global behaviors, these are just a few examples of the general consensus among analysts, but the past isn’t always indicative of the future. China is a prime example of that; for years they had focused on such methods and now they are a global trading power house, and the recent trade war between the U.S. economy.
We also showed participants a real-life example of someone who is demonstratively making a key difference in the future of the environment. This was a very impressive example of how one person can contribute to the habitat of sea creatures and restore our natural ecosystems.
Wind power, for example, requires favorable wind conditions to generate enough energy for power. With thousands of container ships in service throughout the world, there will still be many ships unable or unwilling to make the transition to greener fuels due to higher costs, engineering requirements, etc.
For example, some companies are already looking into autonomous shipping, which could reduce the need for human labor and therefore reduce emissions. For example, just this month, large U.S. As the technology develops, companies will be able to further reduce their emissions and increase their sustainability.
For example, in recent years, with the Covid pandemic, American consumers have experienced the hardships of a globalized economy. This means that supply chain management will need to focus on providing greater transparency into the supply chain, so that consumers can make informed choices about the products they buy.
For example, in March 2023, the Port of Los Angeles, one of the busiest container ports, handled 623,234 TEUs. In March, 367,880 TEUs were handled, compared to 444,690 TEUs in the same month last year, representing a nearly 21% decrease in handling statistics. we can see that the GPA is doing better.
For example, the New York Times is out with a new article on wind energy and how it can help shipping in the near future as climate change becomes a major focus. Could wind power help power tomorrow’s shipping vessels as shippers look to become more environmentally-friendly?
For example, tankers that transport LNG around the world for use in multiple applications are forced to take larger routes to the risks of Houthi attacks in the Red Sea. LNG operations have already been disrupted by the rising rate of Houthi attacks in the Red Sea.
For example, Vietnam to U.S. West Coast, the Ports of Los Angeles and Long Beach saw increases of more than 22,500 and over 17,700 TEUs, respectively. China led the way in increases in U.S. imports, but other countries saw growth, too. imports grew over 18,200 TEUs between March and April of this year. The post U.S.
One prime example of this is California with the state’s Port of Los Angeles upgrades and the Clean Air Act with regulations on freight transportation air pollution. The trend of greener shipping One of the sustainable trends being seen is the goal to reduce the carbon footprint of logistics by adapting green practices.
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