Ocean Freight

CEVA Logistics has acquired Bolloré Logistics, expanding CEVA's air and ocean freight capabilities.

SC Ports has successfully addressed ship delays by implementing operational solutions and pausing construction.

As carrier executives examine negative earnings reports and contemplate the future impact of changing freight demands and surging freight costs, carriers and shippers alike need to keep a close eye on any sudden shifts that could take them off course.

The RMS Titanic's sinking in 1912 highlighted the enduring volatility and challenges in the ocean freight industry, which, despite various efforts and consolidations, continues to face unpredictable pricing and capacity issues exacerbated by global disruptions, prompting ongoing debate about the feasibility of achieving market stability.

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Figuring out how to emerge from this ongoing maelstrom will remain a challenge for shippers everywhere in 2024. With that in mind, let’s focus a few areas around the globe where extra care and diligent logistics management will need to be applied to keep operations—and budgets—in check.

Ocean shipping is again at the mercy of environmental and geopolitical events—and the pessimists are winning over the optimists on the high seas.

Late last week, at the COP28 conference in Dubai, leadership for some of the largest global container shipping lines banded together to issue a joint declaration for an end date for newly-built fossil fuel-powered vessels, while also calling on the International Maritime Organization (IMO) to establish regulatory conditions needed to move on to green fuels to power vessels.

October imports, at 2.64 million TEU (Twenty-Foot Equivalent Units), increased 5% annually, following a 1% annual gain in September. On a year-to-date basis through October, imports are down 11.5%, to 24.02 million TEU.  

Ongoing drought conditions continue to impact the ability of large cargo ships to quickly traverse the Panama Canal.

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With too many vessels chasing too few cargoes, volumes—and rates—have spiraled downward. Consequently, the ocean lines are scrambling to find ways to prop up profits and remain competitive

World-class service emerges from operational squalls

Truck capacity across all modes is slowing because of slackening demand in both industry and retail freight, leading to murky forecasts for the rest of the year by leading freight analysts. Top freight officials throughout the trucking industry are bracing for a slowdown the second half of the year. Truck demand, buoyed last year by the recovery following the COVID shutdown, returns to a more normal level, they predict.

The latest report says that the era of building supply chains solely around cost-reduction considerations is over. Rather, a new value has taken hold—resilience.