containers

The cost to ship a standard 40-foot container of goods from Shanghai to New York has risen to nearly $10,000. That’s because cargo ships are taking the long way around Africa to avoid Houthi rebels in the Suez Canal. A much longer route puts a squeeze on container vessels and ultimately leads...

The Biden administration is asking a "broad range of stakeholders" involved with moving freight to help solve the country's container and intermodal chassis shortages while also trying to alleviate supply chain chokepoints. In an information request to be posted in the Federal Register on Thursday...

Global supply chain visibility, automation, and optimization depends on the quality of one commodity: data. While individual freight forwarders and container lines have optimized their internal processes, none have developed a standard way of doing business across shipping stages.  Port operators...

Facilitator of two-way committed ocean contracts New York Shipping Exchange (Nyshex) announced Wednesday it has raised $15 million in a recent funding round. The round was led by NewRoad Capital Partners and included Collate Capital, Blumberg Capital, and the New York Angels. Since its start in...

As skyrocketing rates squeeze importers and exporters scramble for containers, the push for government intervention is accelerating. What if the U.S. government does move to rein in foreign carriers? What if carrier alliances are broken up, detention and demurrage charges are curtailed, export...

On today's episode, Dooner and The Dude are talking about a U.S. company that's suing "collusive" ocean carriers and alleging price manipulation. Jon Monroe, founder, Monroe Consulting, tries to help us make sense of this market and what's going on between shippers and carriers. In the past...

Huge profit gains in ocean shipping have become commonplace this year. But Ocean Network Express' year-over-year profit increase — 1,432% — is still attention-grabbing.    For its fiscal 2021 first quarter, ONE recorded profit of $2.559 billion, a $2.39 billion gain from the $167 million posted in...

The blows to the global supply chain never seem to end in 2021, resulting in delays that have sharply reduced the system's effective capacity and put upward pressure on shipping rates that began reaching record highs months ago. Purchasing ocean transportation has become so expensive that many...

After reporting another record fiscal year of volume growth, the Port of Savannah's near-term encore is likely to be somewhat muted. The nation's fourth-busiest container port broke the 5 million twenty-foot equivalent unit barrier in its 2021 fiscal year, according to data published Monday by the...

EDRAY, a drayage platform, is looking to revolutionize the way technology executes port logistics.   The company announced Tuesday it is looking to accelerate its growth and expand its suite of drayage solutions with a recent $7 million investment from logistics entrepreneur and investor Andrew...

To view more FreightWaves infographics, click here. Image by Alexander Kliem from Pixabay

There are almost no container ships in the world left for liners to charter. Secondhand purchase prices are through the roof. It takes two years or more to get a newly built ship. How can liners find more capacity? There is a way — without adding ships — for liners to move more cargo and take even...

Port Houston's container activity in June surpassed the record level of twenty-foot equivalent units for the same month last year, despite a decline in steel and auto volumes. Total June container volume was 292,627 TEUs, a 39% increase compared to the same month in 2020. Import container volume...

The ongoing container shortage and port congestion is becoming old news. Freight income per TEU is higher than ever due to the COVID-spurred consumer demand for goods. The industry is seeing a large number of blank sailings, not for lack of cargo, but because the containers sit in waiting for so...

HMM announced Tuesday that it will pay $1.57 billion for 12 container ships that each can carry 13,000 twenty-foot equivalent units.  The ocean carrier said it had signed the newbuild contracts with Daewoo Shipbuilding & Marine Engineering and Hyundai Heavy Industries, both located in South...