Latest news with #StuartChirls
Yahoo
2 days ago
- Business
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Electric barge will help get Nike from factory to port
CMA CGM has launched what it said is the first fully electric container barge in Vietnam, connecting Nike's manufacturing sites with the country's Cai Mep container port. The initiative, Green River Transportation, is a joint venture between Marseilles, France-based CMA CGM and port operator Gemadept. The new entity will manage river transport services in the Mekong Delta. In a release, CMA CGM said the electric barge was jointly designed by its CMA Ships and research and development teams. Power will come from a dedicated charging station connected to a new solar farm located on the Gemalink terminal at Cai Mep, jointly owned by CMA CGM and Gemadept. With output of up to 1 GWh of green electricity per year, the zero-emissions solution will reduce carbon dioxide emissions by 778 tons per year on the 112-mile route between Binh Duong province and Bà Rịa-Vũng Tàu, in southern Vietnam. Based in Beaverton, Oregon, Nike (NYSE: NKE) is a longtime customer of CMA carrier said the low-carbon logistics model is designed to be replicated with other customers and in additional countries, especially where inland waterways are a key link in supply chains. The electric barge is scheduled to enter service in early 2026 and aligns with CMA CGM's global strategy to reach net zero carbon by 2050, through a combination of low-carbon technologies and alternative fuels. Find more articles by Stuart Chirls here. 'Fear and uncertainty' driving up China-US container rates CMA CGM developing $600M Vietnam container terminals Maersk, Hapag-Lloyd partner on new Asia-Long Beach service Maersk more than halfway through $1B stock buyback The post Electric barge will help get Nike from factory to port appeared first on FreightWaves. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
3 days ago
- Business
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US rail traffic ekes out another gain over 2024
U.S. weekly rail traffic remained above 2024 levels for the week that ended on Saturday — but barely. According to the Association of American Railroads, traffic for the week was 488,709 carloads and intermodal units, a 0.7% gain over the same week in 2024. It marked the 13th consecutive week in which traffic has been above year-ago figures, but the smallest gain during that period. The overall figure includes 226,091 carloads, up 3.8%, and 262,618 containers and trailers, a decrease of 1.8% compared to the corresponding week in 2024. Gainers and decliners were evenly split for the week. Coal shipments topped all commodity increases, up 12.1%, followed by motor vehicles and parts, 4.1%, and nonmetallic minerals, 3.5%Through 21 weeks, 2025 volume is 10,280,643 carloads and intermodal units, a 4.9% gain over the same period in 2024. That includes 4,580,934 carloads, up 2.3%, and 5,699,709 intermodal units, up 4.9%. North American traffic for the week, as reported by nine U.S., Canadian and Mexican railroads, was 675,811 carloads and intermodal units, up 1.8% from the same week a year ago. That included 330,466 carloads, up 4.5%, and 345,345 containers and trailers, down 0.8%. The year-to-date volume for North America is 14,173,143 carloads and intermodal units, up 3.3% from the first 21 weeks of 2024. That includes 3,407,247 carloads and intermodal units in Canada, a gain of 0.7%, and 485,523 carloads and intermodal units in Mexico, a decrease of 10.1%. Subscribe to FreightWaves' Rail e-newsletter and get the latest insights on rail freight right in your more articles by Stuart Chirls railroad has 100 extra locomotives ready to handle a container surge Baun joins railcar builder Greenbrier as chief commercial officer Norfolk Southern expands short line interchange improvement program Rail agenda steams up as short lines blitz Congress The post US rail traffic ekes out another gain over 2024 appeared first on FreightWaves.
Yahoo
5 days ago
- Business
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CMA CGM developing $600M Vietnam container terminal
CMA CGM Group is partnering with Saigon Newport Corp. to develop a new deepwater container terminal in Haiphong, northern Vietnam. The agreement covers the design, construction, and operation of the Lach Huyen terminals 7 and 8. The terminal will have a capacity of 1.9 million TEUs and is scheduled to open in 2028. The project comes amid a sharp increase in container volumes in northern Vietnam, and will enable Marseilles-based CMA CGM to secure long-term capacity as the region sees rapid industrial and logistics development. CMA CGM has been active in Vietnam since 1989, with offices in Ho Chi Minh City, Hanoi, Haiphong, Danang, and Quy Nhon. It operates 29 weekly services across seven ports in the country, connecting major global trade routes to an advanced intermodal network via Ceva carrier is co-owner of the Gemalink terminal in Cai Mep and the Vietnam International Container Terminal in Ho Chi Minh City. Find more articles by Stuart Chirls here. Maersk, Hapag-Lloyd partner on new Asia-Long Beach service Maersk more than halfway through $1B stock buyback Drewry: China-US container rates up by double digits Savannah sees record containers amid tariff frenzy The post CMA CGM developing $600M Vietnam container terminal appeared first on FreightWaves.
Yahoo
5 days ago
- Business
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Maersk, Hapag-Lloyd partner on new Asia-Long Beach service
Maersk (OTC: AMKBY) and Hapag-Lloyd (OTC: HPGLY) announced new container services from East Asia to the U.S. Port of Long Beach. The additions by the Gemini Cooperation partners, which include the redeployment of at least one ship back into the eastbound trans-Pacific to U.S. West Coast trade, come as carriers scale up during a 90-day pause in reciprocal tariffs by China and the United States. Maersk's Gemini TP9 service will be covering East China and North East Asia to Long Beach. The port rotation is Xiamen, China – Busan, South Korea – Long Beach – and return to Xiamen. The first sailing is the 4,600-TEU Rhone Maersk on June 24, with a return from Long Beach scheduled for July 15. The ship is being phased out of a West Africa-Asia will operate the 4,250-TEU Synergys Keelung on the same eastbound rotation from Xiamen on July 1. The new service adds an additional 1.2% of capacity to the Pacific trade into the U.S. West Coast, said analyst Lars Jensen, in a LinkedIn post. In the past week container vessel capacity on the trans-Pacific grew by 11%, according to Sea-Intelligence. Also, Maersk hiked its peak season surcharge from the Indian Subcontinent and Middle East to the U.S. and Canada East and Gulf coasts. The charge increases from up to $500 depending on origin/destination to an additional $500 as of next Monday from South and East India, Sri Lanka, Bangladesh, and Pakistan. The carrier said as of June 16, across-the-board surcharges will be $1,500-2,000 per said waiting times are rising at North China and other ports due to congestion, and intermittent port closures caused by strong winds and dense fog. Wait times range from 24-72 hours at Shanghai Yangshan; 24-36 hours at Ningbo, China; 24-72 hours at Qingdao, China; 12-36 hours at Singapore; an average of 18 hours at Busan, South Korea but 72 hours at PNIT Terminal. Japan's Yokohama has waits from 12-24 hours. Find more articles by Stuart Chirls more than halfway through $1B stock buyback Drewry: China-US container rates up by double digits Savannah sees record containers amid tariff frenzyZim profit up on higher container volume, rates The post Maersk, Hapag-Lloyd partner on new Asia-Long Beach service appeared first on FreightWaves. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
23-05-2025
- Business
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Drewry: China-US container rates up by double digits
That didn't take long. Container freight rates out from China to the United States are surging after the trading partners agreed to pause tariffs. Freight rates from Shanghai to New York surged 19% or $704 to $4,350 per 40-foot container, and those from Shanghai to Los Angeles shot up 16% or $423 to $3,136 per 40-foot container, according to maritime consultant Drewry. Rates from New York to Rotterdam, Netherlands, Europe's busiest port, increased just 1% or $10 to $824 per container. Prices from Shanghai to Rotterdam, Shanghai to Genoa, Italy, and Rotterdam to New York fell 1% to $2,035, $2,742 and $1,961, respectively. Rates from Rotterdam to Shanghai and Los Angeles to Shanghai were a note, Drewry said it expects an increase in trans-Pacific spot rates in the coming week due to a shortage in capacity following the latest U.S.-China trade developments. The Drewry World Container Index composite prices increased 8% to $2,233, 78% below the previous pandemic peak of $10,377 in September 2021. However, the index was 57% higher than the average $1,420 in 2019, pre-pandemic. The average YTD composite index closed at $2,746, $151 lower than the 10-year average of $2,896 inflated by COVID in more articles by Stuart Chirls sees record containers amid tariff frenzy Zim profit up on higher container volume, rates No container tsunami heading to Los Angeles, says port chief US trade representative holds second hearing on Chinese ship fees The post Drewry: China-US container rates up by double digits appeared first on FreightWaves. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
