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Channel: New York & New Jersey – The Loadstar

Weather forces closure of NY/NJ terminals


Congestion at port of NY/NJ hits truckers hard

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More tan 90% of global trade moves by ship, and a lot of it moves through the port of New York / New Jersey. In recent weeks, however, port operations have been hurt not by anything occurring on the high seas, but by something happening on dry land: massive truck traffic jams.
The gridlock has been so bad that some truck drivers are complaining about waiting seven hours in line to ...

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Quiet US ports spark slowdown fears as imports fall

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High inventory levels and weak demand are to blame for a fall in imports at the US’s three busiest ports, say industry analysts. LA, Long Beach and New York saw imports fall 10% between August and October – a season traditionally associated with a surge in volumes. This WSJ article examines whether this is a “short-term hiccup, or the “start of a sustained period of weakness”. However, FedEx and Amazon ...

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Tough times ahead for North American port terminals as investors review their options

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Financial investors in North American ports and operating terminals may face difficult choices in the next few years, as margins continue to be squeezed and returns diminish, according to a new report from AlixPartners.
Prior to the global recession, scores of institutional investors were lured to the sector and its seemingly risk-free and stable returns. That in itself created something of an asset bubble.
A series of deals saw private equity and fund managers acquire ...

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Transpacific volumes break records at west coast ports as US confidence soars

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With the US economy showing no signs of ending its bull run, California’s San Pedro Bay ports, Los Angeles and Long Beach, handled record numbers of containers last year.
Container throughput at Los Angeles hit an all-time high of 9.3m teu, while neighbouring Long Beach is set to announce a record of some 7m teu.
“US consumers are confident and the economy has been strong,” said Long Beach Harbor Commission president Lou Anne Bynum.
The optimistic ...

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Judge prevents New Jersey backing out of Waterfront Commission

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After 65 years of service it looked like the Waterfront Commission of New York Harbour was facing its final bow. At the end of his tenure, former New Jersey governor Chris Christie had signed an order – pushed by the state legislature – that would break the two-state agreement. But last week, federal judge Susan Wigenton ordered a stay on the execution order. She decided the commission’s efforts to keep organised crime off the ...

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US east coast dockworkers finally settle bitter dispute over new employment contract

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Shippers are breathing a sigh of relief after US east and Gulf coast dock workers reached “tentative” agreement on a new six-year master contract, following years of tough negotiations.
The International Longshoremen’s Association (ILA) announced the news yesterday, adding that the agreement with the US Maritime Alliance (USMX) now needed to be ratified by its members.
In a joint broadcast, ILA president Harold Daggett and USMX chairman David Adam said: “We have reached a tentative ...

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