The following “Transportation Happenings” occurred during the past week that you may find of interest.
1. The transportation freight rates are up between $700 and $1000 per FEU in Asia-Pac trade, according to Shanghai Containerized Shipping Index, indicating a strong demand.
2. Hyundai Marine has announced that they are going to double their fleet size by 2022.
3. Shanghai is the first Containerport to exceed 40 million TEU handled in one calendar Year.
4. Containership capacity is expected to grow again during 2018 by 5.6%.
5. According to the JOC, (see attached), North American ports are under the gun to modernize. But questions remain as to where the money is going to come from. There are hopes that the new tax laws will attract the money back from offshore, to be vectored into much needed infrastructure work at ports as well as bridges, highways and other infrastructure throughout the US.