CONGESTION IN US WEST COAST PORTS THREATENS LONG-TERM GROWTH

May 26,2022

Nearly US$2 trillion a year is the national economic value of the US West Coast ports, but in the long run, their growth is threatened.

SHANGHAI-BOUND REEFER BOOKINGS RESUME AS LOCKDOWN SET TO END ON 20 MAY

May 16, 2022

Shanghai vice-mayor Wu Qing said at a press conference today (13 May) that the city will gradually lift movement restrictions between 11 and 20 May, nearly two months after the lockdown began.

EXPECTS SPOT RATES TO REMAIN STABLE IN THE NEAR FUTURE

May 13, 2022

Following the composite World Container Index (WCI) decreased by 0.9% to US$7,657.20 per 40ft container the week of 12 May 2022, compared with the previous week's figure. Despite the fall though, it remains 33.7% higher than a year ago.

CHINA’S LOCKDOWNS IMPACT NORTH AMERICA WEST COÁT PORT VOLUMES

May 12,2022

China's firm policy on the Covid-19 pandemic has created a climate of port closure and operational restrictions, as seen in both Ningbo and Shanghai, according to the latest Sea-Intelligence report.

AUSTRALIA’S SHIPPING BODIES STRESS “ỦNEASONABLE CONTAINER FEES”

May 06,2022

Freight & Trade Alliance (FTA) and the Australian Peak Shippers Association (APSA) have announced they have received extensive examples from members highlighting the "unreasonable administration of container detention fees".

Port of Rotterdam sees a modest drop in TEU volumes during the first quarter

April 27, 2022

The Port of Rotterdam has announced a slight container volume decrease of 1.4% to 3.6 million TEU in the year’s first quarter.

US government to help with user costs for Oakland’s pop-up container yard

April 26,2022

Port of Oakland has announced that its new, temporary container yard is getting federal help in the form of financial relief for its customers with the United States Department of Agriculture (USDA) providing agricultural and other exporters assistance in covering expenses for using the pop-up yard.

Ever Forward still stuck, dredging operations may take up to a week

Evergreen's 11,850 TEU vessel Ever Forward remains aground in the Chesapeake Bay in the United States, after an accident on 13 March, with the US Coast Guard reporting that officials have not yet determined the reasons for the incident.

San Pedro Bay Ports to collect clean truck fund rate from 1 April

The ports of Long Beach and Los Angeles will begin collecting a rate of US$10 per TEU on loaded import and export containers hauled by drayage trucks, as they enter or leave container terminals.

What are the most important changes on Incoterms 2020?

The most significant change relates to the term FCA (Free Carrier). It now allows the buyer to instruct the carrier to issue a Bill of Lading with an onboard notation to the seller. By doing so, it satisfies the terms and conditions of a Letter of Credit. Previously, many exporters preferred to use FOB (Free on Board) to arrange payment under a Letter of Credit. Nonetheless, FCA was more suitable for the shipment of containerised goods. It was due to the extra delivery cost differential between FCA and FOB.