Shipping Information | Strikes at US West Terminals Affect Multiple Ports; Kuehne & Navigator Acquires Morgan Cargo

NO.1, the strike at the west of the United States affects the operation of multiple ports

The progress of labor negotiations at the west coast of the United States is slow, and the confrontation between the two sides continues.

A few days ago, the Pacific Maritime Association (PMA), which represents 29 terminals and 70 shipping companies on the west coast of the United States, stated that on June 2, local time, dock workers in the west of the United States held a strike, which caused some container terminal operations in the west of the United States to be interrupted.

According to PMA, in addition to the interruption of some terminal operations in the ports of Los Angeles and Long Beach, the strike has also seriously affected the operations of Oakland, Tacoma, Seattle and other ports in the West of the United States.

NO.2. Kuehne & Nagel acquires Morgan Cargo

A few days ago, KuehneNagel, the world's largest ocean freight forwarder, announced the acquisition of Morgan Cargo, a South African freight forwarding company.

Founded in 1993 and headquartered in Johannesburg, South Africa, Morgan Cargo specializes in the transportation of perishable goods to countries such as South Africa, the United Kingdom and Kenya. In 2022, Morgan Cargo handled more than 20,000 TEU of ocean freight, and more than 40,000 tons of air cargo.

Kuehne & Nagel said the acquisition of Morgan Cargo complemented its own business in perishables logistics and improved customer transport services to and from South Africa, the UK and Kenya.

NO.3, Hapag-Lloyd executives: Optimistic about the prospect of the peak season in the market

The chief executive of Hapag-Lloyd sees a "more than 50%" chance of a normal peak season this year.

It is reported that at a recent online conference, Hapag-Lloyd Rolf Habben Jansen said that although inventories still rose slightly, "in general, inventories are starting to decline". Expect a normal peak season this year if retailers start restocking in preparation for back-to-school and Christmas. He added that bookings had "increased over the past few weeks" and expected spot rates to rebound in the second half of the year.

“I believe there is a greater than 50 per cent chance that the peak season will be fairly normal. I do expect spot rates to bounce back a little bit, simply because they are at such low levels right now,” he said.

NO.4. Trans-Pacific container spot freight rates rise slowly

According to the Baltic Freight Daily Index, the China-West Coast spot freight rate was ,441 per 40 feet equivalent on Friday, up 11% from before GRI on Thursday and 44% from before GRI on April 15.

The FBX index shows that the China-East Coast freight rate was US,448 per FEU last Friday, up 6% from the latest GRI and 17% from the GRI on April 15.

NO.5. Portuguese railway workers go on strike for one month

According to reports, the Portuguese railway commercial inspection union organized railway employees to hold a one-month strike action. From 00:00 to 8:00 local time on the 5th, a total of 22 trains were canceled.

Portugal's inflation rate was 7.8 percent last year, the highest in the past 30 years, according to the Portuguese National Statistics Institute, while wage adjustments have been far below inflation.

Since the beginning of this year, Portuguese railway workers have held intensive strikes one after another, demanding higher wages, improved working conditions, and enhanced personnel safety.