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Asia-US East Coast capacity up 18.9%

Asia-US East Coast capacity up 18.9%

Congestion on the US West Coast led to a sharp increase in both demand and capacity on the Asia-US East Coast routes. Quoting Sea-Intelligence data, Xeneta said that in the three months to July 24, capacity between Asia and the US East Coast was up 18.9% on-year to an average of 210,000 teu. “Compared to the average weekly capacity in…

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Shanghai lockdown hits Oakland container volumes

Shanghai lockdown hits Oakland container volumes

China’s zero-tolerance in the Covid-19 pandemic and the lockdown in Shanghai have affected the Port of Oakland in the United States, which has seen a 7% reduction in its box volumes in April, compared to the same month last year. In particular, the port’s containerised import loads fell 17% last month, while exports sagged 18%. The decline is largely due…

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Hapag-Lloyd reports US$4.7 billion profit in first quarter

Hapag-Lloyd reports US$4.7 billion profit in first quarter

Hapag-Lloyd has achieved “an exceptionally strong start” of the year, according to the company’s CEO Rolf Habben Jansen, who expects a strong second quarter. The German ocean carrier has concluded the first quarter of 2022 with an EBITDA of US$5.3 billion, EBIT of US$4.8 billion, while the Hapag-Lloyd’s profit climbed to US$4.7 billion and revenues rose to US$9 billion. The…

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Port of Virginia’s near-record month ‘speaks volumes’

Port of Virginia’s near-record month ‘speaks volumes’

April was the second-most productive month in the history of the Port of Virginia in Norfolk. The Virginia Port Authority said Tuesday that the Port of Virginia handled 323,244 twenty-foot equivalent units in April, up 12.9% year-over-year. The all-time record was set in December 2021, and April was just shy of missing the mark, by only 2,300 TEUs, according to the port…

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FMC demands more rate, capacity information from container shipping alliances

FMC demands more rate, capacity information from container shipping alliances

The US Federal Maritime Commission (FMC) is demanding more information and pricing from the largest container shipping alliances accused of profiteering from the supply chain crunch. New monitoring requirements from the US regulator will see 2M, Ocean Alliance, and The Alliance, being mandated to provide the FMC’s Bureau of Trade Analysis (BTA) with insight into pricing of individual trade lanes and…

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Swire Shipping claims fastest service linking Vietnam and US

Swire Shipping claims fastest service linking Vietnam and US

Singapore-based liner operator Swire Shipping has launched what it claims is the market’s fastest port-to-port service for voyages between Ho Chi Minh city in Vietnam and Seattle in Washington with a transit time of between 16 and 18 days. The service, with priority berthing secured at both Seattle and Vietnam, has been launched exclusively in partnership with a top 20…

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