Shipping Industry Affected by Corona Virus Pandemic The rapidly developing Covid-19 Corona Virus pandemic is affecting the shipping industry along with every other aspect of business and personal life. We will be posting to this blog page with any industry relevant...
Cosco Orders $1.5 Billion in Megaships – China-based Cosco Holdings Co. announced plans this week to order 11 megaships capable of carrying 19,000 TEUs each. The vessels will be used in the Asia-Europe trade and reduce shipping cost by roughly 25% compared to smaller...
OakPass in Oakland Modeled After PierPass – Terminals at the Port of Oakland are planning to subsidize weekend operations with a new fee schedule modeled after Southern California’s PierPass program. PierPass has been in place at Los Angeles and Long Beach terminals...
Suez Canal Expansion Opens – An expansion to the Suze Canal opened this week. The project reportedly cost $8.2 billion to complete. Officials estimate that the expansion will cut average vessel waiting time of 8-11 hours down to 3 as well as allow larger vessels to...
FMC Report on U.S. Port Congestion – The Federal Maritime Commission (FMC) released a report this week on U.S. Port Congestion. Below is an expert from the report citing chassis availability as a major issue. The lack of chassis availability emerged, alongside...
PierPass Will Raise Fees – PierPass fees will rise from $66.50 to $69.17 per TEU next month. Higher labor costs due to the new longshore contract are the reason for the increase. PierPass has been around for 10 years and has led to more than 50% of truck traffic to...
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