Weekly Update: Week 23: June 7th – 11th

Operations Update

Importers Rejoice: It’s Finally Over. U.S. and EU to End for Good Trump’s $18 Billion Tariff Fight 

Oakland Update:

Today the vessel concentration at Oakland has exceeded Los Angeles and Long Beach, with vessel waiting times between 15-20 days. Oakland has an even greater labor shortage than Southern California but has been taking steps to increase the labor pool.

The Pacific Maritime Association (PMA) reports that employers and the union have hired 950 part-time workers and are moving existing part-time up in the process so they can handle container operations. The training process for new recruits takes 30-60 days. In addition, Oakland is now operating three new cranes that arrived in January, following the installation and testing process that lasted until the end of May.

The High Cost of Port Congestion:

  • The global average of capacity was reduced by 12%. “The effect is the same as if the entire industry had decided to remove all the The Ultra-Large Container Vessel (UCLV) from their fleets,” said Sea-Intelligence.

  • A staggering 25% of capacity deployed on the transpacific between January and April was “lost” due to vessel delays, compared with the normal 2%-4% of capacity that could be expected to be eroded.

  • The report says this vast amount of capacity effectively idled due to the chronic port congestion that has afflicted US west coast ports “outpaced the 17% soaked up by the 2015 US west coast labour dispute”.

    Source: https://theloadstar.com/high-charter-rates-could-be-carriers-achilles-heel-come-downturn/



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