ocean shipping News Updates

WASHINGTON — President Joe Biden launched a renewed push June 9 to reduce the costs of shipping goods across oceans, a major challenge for retailers that the White House said has pushed up prices as the world emerges from the coronavirus pandemic.

The giant ports in Southern California and across the U.S. greatly lag their counterparts in Europe and other regions using digital technology to optimize operations. That was the consensus of a panel discussion at the Metrans International Urban Freight Conference.

Imports continue to dominate the cargo at the nation’s ports, and the nation’s busiest — the Port of Los Angeles — reported its second-busiest April in its 115-year-plus history,

China locking down key port cities because of a new outbreak of the coronavirus could have serious ramifications for trucking in the United States.

As supply chain woes continue to affect the commercial transportation industry, Sen. Amy Klobuchar called on colleagues to pass legislation meant to facilitate the movement of freight at the nation’s ports.

Container ports in March were operating at, or near, record levels on the Pacific and Atlantic coasts.

Sen. Elizabeth Warren (D-Mass.) blamed rising U.S. inflation in part on the largest ocean shipping companies, calling “the anti-competitive nature” of the industry the root cause of soaring prices to transport goods around the global economy.

President Joe Biden and some members of Congress are calling for ocean carriers to lose their limited antitrust immunity under legislation that has been introduced in the House of Representatives.

A slowdown in China’s steel production is curbing demand for bulk ships to transport iron ore, driving a steady decline in global freight rates from October’s peak.

Ocean shipping rates are expected to stay elevated well into 2022, setting up another year of booming profits for global cargo carriers — and leaving smaller companies and their customers from Spain to Sri Lanka paying more for just about everything.