The Port of New York and New Jersey has outperformed other US ports, handling 774,698 twenty-foot equivalent units in May, 2% less the same month a year ago, but 20% more than pre-pandemic May 2019. In addition, the port handled 3,729,611 TEUs, up 6.5% year...
Spot rates in the eastbound trans-Pacific have fallen, potentially signifying that the temporary tariff pause won't deliver the consistent demand initially envisaged. West Coast rates fell 32% in the week ending 17th of June whilst East Coast rates were down 11% over the same period. This...
The Port of Long Beach, California, had its busiest April on record, handling 867,493 twenty-foot equivalent units, a 15.6% increase compared to the same month last year. This April performance marks the 11th consecutive month of cargo increases at the port, which with Los Angeles, constitutes...
Louisiana's Plaquemines Port has a new name: the Louisiana Gateway Port. This new name reflects the Port's growing role in global trade as well as its goal of becoming one of the top five U.S. ports by tonnage within five years. With no height limits for...
As part of ongoing tariff discussions, the EU has confirmed that American whiskey will not be subject to the 50% tariff initially proposed as a response to the US tariff on European steel and aluminium. The decision to omit whiskey was in response to Trump's threat...
A joint declaration pertaining to security matters has been signed and agreed to by The Minister for Canal Affairs of Panama and the United States Secretary of Defense. This agreement reaffirms respect for, and the recognition of, Panamanian sovereignty over the interoceanic waterway, as well as...
As previously reported in our newsletters, the USA has announced a raft of port fees on Chinese vessels in an attempt to boost America's shipbuilding industry. Given China manufactures over 1000 ships per year whilst the U.S. builds five or fewer, this initiative has been met...
In the latest developments in the trade war between USA and China, reduced tariffs of 30% and 10% have been respectively announced, alongside a rollback on some of the steeper tariffs, giving both sides 90 days to continue negotiations. Regardless of the de-escalation of the trade...
A Trump administration port fee proposal designed to boost the U.S. shipbuilding industry could transform international intermodal traffic, shift some container business to ports in Canada and Mexico, and help Canadian National and Canadian Pacific Kansas City railroads in the process. As mentioned in last month's...
APM Terminals (APMT) have announced they will invest over $500 million at its 350-acre Elizabeth terminal after it agreed to a 33-year lease extension until December 2062 with the Port Authority of New York and New Jersey. APMT Elizabeth handles over 25% of the port's annual...