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Weakening Markets Lead to Trans-Pacific Rate Drops

Shipping Delays

Ever Given Dislodged from Suez Canal

After Days of Suffering a Complete Blockage, The Suez Canal is No Longer Harboring a Ship Across its Waters The Ever Given containership was dislodged this morning and is now once again floating in the right direction. Tug boats worked hours to get this ship freed from the canal, but it was with the help of high tide that the ship was finally freed. It is now being towed towards Egypt’s Great Bitter Lake, where it will undergo an inspection. “The outcome of that inspection will determine whether the ship can resume its scheduled service.…
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Tensions High Over Ever Given Containership Blockage

Egypt Seizes Ever Given, Demands $900M for Suez Canal Blockage Egyptian authorities have seized the Ever Given containership, which blocked the Suez Canal for almost a week last month, amidst a dispute over financial damages. Egyptian authorities have ordered the Ever Given’s owner, Japanese chartering company Shoei Kisen Kaisha, to pay $900 million in compensation. The bill includes losses inflicted by the congestions the ship caused, maintenance fees and rescue operation costs, according to Egypt’s state-run news agency Al Ahram. Image courtesy of Planet Labs Inc. The Backstory  On March 29th, 2021, The Ever Given containership was successfully…
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Ocean Cargo

Ship Congestion Continues 

The Impact of the Suez Canal Blockage on Global Shipping The recent situation in the Suez Canal resulting in the containership Ever Given blocking the enitre canal for days, could not have happened at a worse time due to to the current extremely high shipping demands. Global shipping, the industry that transports steel boxes full of products around the global economy, was already reporting record highs and operating at full capacity. The Port of Long Beach reported its busiest month ever in March 2021 as imports continued to pour into U.S. seaports. The congestion resulting…
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2021 Shipping Delays

Guide to Survive 2021 Shipping

5 Tips to Help Navigate the Unusual Shipping Delays 2021 Will Bring 1. Book Early Due to the current over-demand in the shipping industry, paired with capacity and equipment shortages, booking your shipments early has never been more important. Within 3 weeks of departure, bookings are already full. It is essential that you make your booking at least 4 weeks prior to the cargo ready date. Typically, shippers were in the habit of booking cargo once it is ready, this system may have been efficient prior to the Covid-19, however, if you go by this…
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Container shortage

Is China to Blame for Sudden Container Shortage?

As the US Faces a Shortage in Shipping Containers, we are Forced to Wonder if China is to Blame.  This container shortage has been a prevalent issue for months at US ports. Federal Maritime Commissioner Carl Bentzel stated that he believes, “China may be manipulating the market to control the availability of containers.” “I am concerned that this equipment is controlled by a state-owned enterprise and that we’re completely reliant, and I have questions about whether or not there’s been market manipulation of what is potentially a monopoly,” Bentzel said on Wednesday. Shipping Demands Continue…
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Largest Container Ship to Visit the East Coast

Increased Ship Size is Creating More Work and Congestion at Ports via The Associated Press The largest container ship to ever serve the East Coast of the U.S. called on the Ports of New Jersey, Norfolk, Virginia, Savannah, Georgia, and Charleston, South Carolina this week. The Marco Polo is a container ship of the Explorer class owned by the CMA CGM Group. It is 1,300 feet long, nearly the length of four football fields, and can carry a capacity of 16,022 20-foot-long containers. Surge in Volume Although exciting, the Marco Polo’s visit this week calls attention…
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Port Congestion

Covid-19 Restrictions Create New Setbacks at China Port

Delays Threaten New Disruptions in Global Trade COVID-19 restrictions, which have complicated major ports in the U.S. and Europe through the pandemic, are now disrupting operations at a key export hub in China that could last until the end of this month and lead to further rise in ocean freight rates. Recent Set Backs Capacity at major ports is being pushed to the limit by tighter coronavirus controls in China’s southern manufacturing hub. Operations have slowed as authorities restrict business activity in the efforts to halt COVID-19 outbreaks. The present COVID-19 crisis has resulted in…
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FMC to Review Ocean Shipping Practices in Response to Biden’s Executive Orders

President Biden Released Executive Orders Affecting Ocean Container Shipping. On Friday, July 9th, President Biden released executive orders affecting ocean container shipping. Biden’s orders encourage competition across several sectors, prompting the Federal Maritime Commission, or FMC, to pursue unfair carrier practices in the area of detention and demurrage. Prior to Biden’s recent orders, the FMC already began investigating detention and demurrage practices they found unfair such as the refusal to carry exports, which violated the Shipping Act of 1984. The FMC also aims to strictly enforce rules so exporters aren’t excessively charged. The container shipping…
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Auditing Charges

FMC to Begin Auditing Detention and Demurrage Charges 

Top 9 Container Lines Become the Target of FMC’s Audits Among increased pressure from shippers, Congress, and the White House, the US Federal Maritime Commission (FMC) will begin auditing how they bill customers’ detention and demurrage charges. The audit targets the top nine container lines including Cosco Shipping Group, CMA CGM, Evergreen, Hapag-Lloyd, HMM, Maersk, Mediterranean Shipping Co., Ocean Network Express, and Yang Ming. A letter to the container carriers details that the Vessel-Operating Common Carrier Audit program will determine whether carriers will face additional storage fees if they are unable to pick up or…
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Shipping Delays

Port Congestion Exacerbated by Shutdown of Ningbo Terminal

Temporary Shuttering of Meidong Terminal in China A positive test for coronavirus on a vaccinated individual, working for an undisclosed carrier, led to shipping delays and the temporary shuttering of Meidong terminal in Ningbo, China, the country’s second largest container port, according to Reuters. The shutdown of the terminal, at 3:30 AM local time on Tuesday, August 10th, was the result of China’s tighter restrictions as it attempts to fight the most recent outbreak of coronavirus within its borders. The backlog of ships queuing to call at Ningbo stood at 37 vessels as of Friday,…
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