Trans-Pacific Trade Crashes Into Max-Capacity Ceiling zerohedge.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from zerohedge.com Daily Mail and Mail on Sunday newspapers.
Congestion Worsens at Southern California Ports
A containership unloaded at the Port of Los Angeles. (Patrick T. Fallon/Bloomberg News)
Ship congestion around the ports of Los Angeles and Long Beach hit an unprecedented level, worsening the bottleneck at the busiest gateway for U.S. imports.
A record 38 containerships are awaiting berth space 36 at anchor and two that were directed to wait in designated areas at sea until anchorages are available, the Marine Exchange of Southern California said in a note late Jan. 28. It’s the first time since 2004 that so-called drift zones have been used to manage traffic into the neighboring ports.
Biggest Gateway for U S Imports Hit by Record Ship Bottleneck yahoo.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yahoo.com Daily Mail and Mail on Sunday newspapers.
Dive Brief:
The Competition Directorate of the European Commission, the European Freight Forwarders Association and the European Shippers Council sent a letter to the European Commission, accusing ocean carriers of breaking contracts, and are asking the regulatory authority to take steps to investigate the situation, according to a press release and emails from individuals involved in the discussions.
Along with contract violations, the concerns highlighted in the letter include carrier conditions for accepting bookings and the ability of ocean carriers to unilaterally set rates, according to the release.
The ocean alliances respective capacity management efforts have led to the recent hikes in container freight rates, the organizations said in their letter to the Commission, an excerpt of which was shared with Supply Chain Dive. The letter also notes that the carriers abilities to cut capacity while raising rates earlier in 2020 helped to create the current issues.
Persistently tight containers market expected into 2021 as contract talks evolve hellenicshippingnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from hellenicshippingnews.com Daily Mail and Mail on Sunday newspapers.