<div class="phx-topic abstract-wrapper">The assessment of storage fees inside a terminal creates competitive pressures among marine terminal operators, their container line customers, and the importers that contract with container lines.</div>

The assessment of storage fees inside a terminal creates competitive pressures among marine terminal operators, their container line customers, and the importers that contract with container lines.

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<div>The manner in which ocean carriers and marine terminals assess fees to importers for containers that dwell at port yards beyond contractual free time is a window into a muddled situation that the US Federal Maritime Commission (FMC) has two months to sort out. The complexities are coming to bear on a rulemaking process the FMC must complete by mid-June due to a provision within the Ocean Shipping Reform Act of 2022 that was signed into law last June by President Joe Biden and stipulates the agency must address the billing of detention and demurrage fees within one year. Demurrage...

The manner in which ocean carriers and marine terminals assess fees to importers for containers that dwell at port yards beyond contractual free time is a window into a muddled situation that the US Federal Maritime Commission (FMC) has two months to sort out. The complexities are coming to bear on a rulemaking process the FMC must complete by mid-June due to a provision within the Ocean Shipping Reform Act of 2022 that was signed into law last June by President Joe Biden and stipulates the agency must address the billing of detention and demurrage fees within one year. Demurrage is a fee assessed by terminal operators on loaded import containers that stay in port beyond allowable free time specified by a carrier-shipper contract or port free time tariff. In advance of the FMC concluding its rulemaking process, a handful of container lines have announced in recent weeks they have stopped charging importers, or consignees, demurrage fees on days when terminals are closed. But that only clouds the invoicing picture because, from the perspective of marine terminal operators (MTOs), storage fees will accumulate whether or not a terminal’s gates are open to truckers. Contract complexity An example of the complexity the rulemaking must address: The Port of Long Beach’s tariff gives consignees seven days of free time, a clock that generally starts at 3 am the day after a container is discharged from a vessel. That seven-day period includes days when a terminal is closed for weekends and holidays. Meanwhile, a container line that calls at a terminal in Long Beach can separately agree to a contract with a consignee that gives the cargo owner’s container additional free time in the terminal beyond what’s specified in the port tariff. That, in turn, creates a set of competitive pressures on various parties attached to the shipment in a so-called merchant haulage move, where the consignee is responsible for arranging the pickup and return of the container. The container line is the customer of the MTO, while the consignee is both the customer of the container line and the drayage provider it has nominated to pick up and return the container. The MTO is the party that collects fees, generally from its container line customer, when a container exceeds free time according to the port’s tariff. But the MTO has no contractual relationship with either the consignee or the drayage carrier, and it won’t allow a container to be discharged from a terminal until demurrage has been paid. In Southern California, terminals do not bill the shippers directly for demurrage due, but rather post what’s due on their website, said Ian Weiland, COO of drayage provider Junction Collaborative Transports. “The terminal doesn’t care who pays, but someone needs to pay it to retrieve the container,” Weiland said. That exact sentiment was echoed by Michael Kroul, managing director at drayage broker KTI. “Most of the time, the [dray] carrier pays and gets the amount paid back by the [beneficial cargo owner],” Kroul said. Terminals still ‘get paid’ The way terminals ensure they get paid for extra days of container storage is important, because the FMC said it is weighing whether to specify that the consignee on the bill of lading is the party to which demurrage should be billed. The complexity is that the consignee on the bill of lading has a contract with the container line, not the MTO, and if the container line is voiding demurrage charges on behalf of its customers for days a terminal isn’t open, someone still needs to pay. “We do not eat those extra days in storage fees,” said one Southern California terminal executive who did not want to be identified. “I’m not sure what the carrier is doing directly with the BCO, but we get paid per our tariff.” That is but one permutation of a process that is slightly different at each US port, including ones run as landlord ports — where private MTOs lease and run individual terminals — and operating ports, where the port authority also acts as the operator. Free time varies among ports, and there is no uniformity on free time clauses in contracts between container lines and importers. Fees as a way to incentivize cargo movement To underscore the potentially fraught nature of demurrage billing, the National Association of Waterfront Employers (NAWE) shared with the Journal of Commerce a list of data points that impact importer delays in retrieving cargo where MTOs lack insight. The list includes: the importer’s inland warehouse capacity and hours of operation; availability of chassis; availability of drayage capacity; the amount of free time agreed between the container line and importer; whether the ocean carrier’s performance caused or contributed to the importer’s delay in retrieving cargo; the underlying cause of any customs holds; and the existence of any disputes between the ocean carrier and importer. The NAWE’s implication is that, without insight to those data points, charging terminal storage fees is the best way to incentivize cargo retrieval. “Not only do we not even have a contractual relationship with the shipper, our agreements are with the carrier,” NAWE President Robert Murray told the Journal of Commerce in an interview. “But then on top of that, having to provide [invoice] data points that either don't exist or that we don't have, that's extremely burdensome. You've got some carriers that are already taking action , you have others that are not. That's uncertainty and it really isn't good for the marketplace.” Teri Errico Griffis contributed to this report. Contact Eric Johnson at eric.johnson@spglobal.com and follow him on Twitter: @LogTechEric .

Container Shipping News

Port News

Container lines

North American ports

Transport, Trade and Regulation News

Demurrage invoicing complications cloud FMC’s free time rulemaking process

<div class="phx-topic abstract-wrapper">Any tie-up between the two railroads would be classified as a “major transaction” under US Surface Transportation Board regulations and subject to a rigorous review that could take two to three years. </div>

Any tie-up between the two railroads would be classified as a “major transaction” under US Surface Transportation Board regulations and subject to a rigorous review that could take two to three years.

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<div class="phx-topic">Union Pacific Railroad and Norfolk Southern confirmed Thursday they are in “advanced discussions” on a possible merger to create a transcontinental railroad, though UP officials declined to offer further details during a second-quarter earnings call. UP CEO Jim Vena cautioned that there are no assurances a deal will be reached. Any tie-up <a href="https://www.joc.com/article/potential-up-ns-tie-up-would-cause-major-shift-in-us-intermodal-market-6046025">between the two railroads</a> would be classified as a “major transaction” under US Surface Transportation Board regulations and subject to a rigorous review that could take two to three years. “We didn’t wake up one morning and say we’re going to do something like we just announced that we’re in discussion,” Vena told analysts. “We’ve done a lot of homework to get us to this place.” Vena declined to say how close the companies are to a deal or whether they have contacted federal regulators or the White House. “If you fundamentally have a railroad that’s operating the way we operate, then you can do things that help the nation, help our customers win, and that’s what it’s all about,” he said. “Everything else in the world is moving ahead...If you stand still, you get left behind.” If a deal between UP and NS is announced and approved, it could benefit shippers of industrial and bulk goods, according to industry analysts with experience at Class I railroads. One analyst, who did not want to be identified, said the biggest gains would go to so-called “watershed” customers, meaning shippers that are located close to the operational networks of two railroads. Many of those shippers currently use trucks to avoid the delays and complications of handing freight between rail carriers. <h3>Differing views on intermodal impact </h3>A transaction between the two Class I railroads <a href="https://www.joc.com/article/potential-up-ns-tie-up-would-cause-major-shift-in-us-intermodal-market-6046025">would benefit Hub Group, Swift Intermodal, and parcel giant UPS</a> which partner with both Union Pacific and Norfolk Southern. But analysts differ on whether a transcontinental railroad would ease congestion in cities like Chicago, Memphis and Kansas City, where trains are broken up and containers exchanged between carriers. UP and rival BNSF Railway build West Coast trains bound for Chicago with freight destined for both the Chicagoland area and the East Coast. Ramp workers must break up the trains, sort and organize the containers, then mount the boxes into a stack or route them to NS or CSX for onward delivery. It’s not unlike how dockworkers separate containers for local delivery from those headed inland, then further divide loads between railroads and move them to on-dock yards. Ted Prince, CEO of Tri-Cities Intermodal, said he doesn’t believe much would change in gateway cities under a UP-NS merger. “The situation today in Chicago is not going to be any different after (a) merger,” Prince said. “A container traveling from Los Angeles to Philadelphia is still going to be sliced and diced in Chicago.” Prince also downplayed any impact on international intermodal freight, noting that ocean carriers tend to avoid expensive land-bridge routes in favor of all-water service to East Coast ports, followed by shorter drays. <h3>‘Untapped opportunities’ for intermodal </h3>But Paul Tonsager, a former Canadian National Railway executive, believes a potential merger could have an impact on the intermodal market. “Everyone is chomping at the bit to find ways around Chicago, and I cannot imagine Jim Vena getting into all of this without wanting to make his mark,” Tonsager said. “For example, Red Bull ships a lot from Phoenix to Philadelphia, but they don’t want to mess around with the railroad on this lane. We don’t know how much density is possible on such a lane, but with data and artificial intelligence, it’ll be much easier to find untapped opportunities.” He also sees potential to expand international intermodal business. “It’s inherent on the railroads to open up these opportunities and not be the historical barrier that they’ve been,” he said. “Would you spend $80 billion and just go ‘Okay, well I’m just going to operate the way I’ve always operated?’ I seriously doubt that. This is where the STB can step in and push on the UP.” Federal regulators have the authority to impose conditions on major mergers. Railroads must show that a deal serves the public interest, reduces highway congestion and promotes competition. Other railroads, as well as non-intermodal shippers, are likely to use a possible merger as an opportunity to seek concessions from UP in exchange for public support. Contact Ari Ashe at <a href="mailto:ari.ashe@spglobal.com">ari.ashe@spglobal.com</a>. </div>

Union Pacific Railroad and Norfolk Southern confirmed Thursday they are in “advanced discussions” on a possible merger to create a transcontinental railroad, though UP officials declined to offer further details during a second-quarter earnings call. UP CEO Jim Vena cautioned that there are no assurances a deal will be reached. Any tie-up between the two railroads would be classified as a “major transaction” under US Surface Transportation Board regulations and subject to a rigorous review that could take two to three years. “We didn’t wake up one morning and say we’re going to do something like we just announced that we’re in discussion,” Vena told analysts. “We’ve done a lot of homework to get us to this place.” Vena declined to say how close the companies are to a deal or whether they have contacted federal regulators or the White House. “If you fundamentally have a railroad that’s operating the way we operate, then you can do things that help the nation, help our customers win, and that’s what it’s all about,” he said. “Everything else in the world is moving ahead...If you stand still, you get left behind.” If a deal between UP and NS is announced and approved, it could benefit shippers of industrial and bulk goods, according to industry analysts with experience at Class I railroads. One analyst, who did not want to be identified, said the biggest gains would go to so-called “watershed” customers, meaning shippers that are located close to the operational networks of two railroads. Many of those shippers currently use trucks to avoid the delays and complications of handing freight between rail carriers. Differing views on intermodal impact A transaction between the two Class I railroads would benefit Hub Group, Swift Intermodal, and parcel giant UPS which partner with both Union Pacific and Norfolk Southern. But analysts differ on whether a transcontinental railroad would ease congestion in cities like Chicago, Memphis and Kansas City, where trains are broken up and containers exchanged between carriers. UP and rival BNSF Railway build West Coast trains bound for Chicago with freight destined for both the Chicagoland area and the East Coast. Ramp workers must break up the trains, sort and organize the containers, then mount the boxes into a stack or route them to NS or CSX for onward delivery. It’s not unlike how dockworkers separate containers for local delivery from those headed inland, then further divide loads between railroads and move them to on-dock yards. Ted Prince, CEO of Tri-Cities Intermodal, said he doesn’t believe much would change in gateway cities under a UP-NS merger. “The situation today in Chicago is not going to be any different after (a) merger,” Prince said. “A container traveling from Los Angeles to Philadelphia is still going to be sliced and diced in Chicago.” Prince also downplayed any impact on international intermodal freight, noting that ocean carriers tend to avoid expensive land-bridge routes in favor of all-water service to East Coast ports, followed by shorter drays. ‘Untapped opportunities’ for intermodal But Paul Tonsager, a former Canadian National Railway executive, believes a potential merger could have an impact on the intermodal market. “Everyone is chomping at the bit to find ways around Chicago, and I cannot imagine Jim Vena getting into all of this without wanting to make his mark,” Tonsager said. “For example, Red Bull ships a lot from Phoenix to Philadelphia, but they don’t want to mess around with the railroad on this lane. We don’t know how much density is possible on such a lane, but with data and artificial intelligence, it’ll be much easier to find untapped opportunities.” He also sees potential to expand international intermodal business. “It’s inherent on the railroads to open up these opportunities and not be the historical barrier that they’ve been,” he said. “Would you spend $80 billion and just go ‘Okay, well I’m just going to operate the way I’ve always operated?’ I seriously doubt that. This is where the STB can step in and push on the UP.” Federal regulators have the authority to impose conditions on major mergers. Railroads must show that a deal serves the public interest, reduces highway congestion and promotes competition. Other railroads, as well as non-intermodal shippers, are likely to use a possible merger as an opportunity to seek concessions from UP in exchange for public support. Contact Ari Ashe at ari.ashe@spglobal.com .

Surface

Rail News

North-American rail

Intermodal providers

UP confirms in ‘advanced discussions’ on deal with Norfolk Southern

<div class="phx-topic abstract-wrapper">The negative foreign exchange effects were most noticeable in the forwarder’s US dollar-denominated ocean freight business, where earnings fell sharply in the second quarter.</div>

The negative foreign exchange effects were most noticeable in the forwarder’s US dollar-denominated ocean freight business, where earnings fell sharply in the second quarter.

<div class="phx-topic">Kuehne + Nagel (K+N) Thursday reported above-market share growth in both air and ocean volumes in the first half of the year, although foreign currency headwinds weighed on the forwarder’s financial results. The negative foreign exchange effects were most noticeable in US dollar-denominated ocean freight. Despite a 20% increase in first-half ocean revenue to $5.9 billion and an 11% increase in second-quarter revenue to $2.8 billion, K+N’s earnings before interest and taxes (EBIT) in the ocean segment fell 5% year over year to $462 million in the first half and slid 16% to $98 million in the second quarter. Markus Blanka-Graff, CFO for Swiss-based Kuehne + Nagel, described the currency headwinds as “one of the most significant developments” this year. “Since ‘Liberation Day’ at the start of Q2, we have seen the devaluation of our key functional currencies, the US dollar and Euro, relative to our reporting currency, the Swiss franc,” Blanka-Graff told analysts on a first-half earnings call, referring to the launch of the Trump administration’s new tariff policy. “The average exchange rate for these currencies declined by 8% and 4% year over year, respectively,” he added. “This resulted in a 6% EBIT headwind in the second quarter alone, or 3% on a half-year basis.” Total first-half revenue was up 12% at $15.7 billion and earnings before interest, taxes, depreciation and amortization (EBITDA) increased 4% to $1.5 billion, although overall EBIT fell 1% to $937 million and net profit slid 1% to $700 million. While Kuehne + Nagel has maintained its full-year profitability forecast, the currency effect saw the forwarder adjusting its EBIT guidance range from $1.9 billion to $2.2 billion to $1.8 billion to $2 billion. <h3>‘Solid operational performance’ </h3>Although the negative foreign exchange effects undermined its earnings, Kuehne + Nagel CEO Stefan Paul said the forwarder put in a “solid operational performance” in the first half. In the volatile demand and rate environment that followed President Donald Trump’s April 2 “Liberation Day,” when tariffs were rolled out on the US’ trading partners, Paul said Kuehne + Nagel was able to offset declining ocean volumes to and from the US with gains in other markets. Overall container volume rose 4% year over year in the first half to 2.1 million TEUs against market growth of 1%, with Kuehne + Nagel also reporting “substantial market share gains” on the trade route from Asia to Europe. “We gained a significant amount of new businesses in the RFQ [request for quotation] season during the first half and we are confident we will see the same pattern in the third and the fourth quarters,” Paul said. <h3>Strong growth in air cargo </h3>K+N’s air cargo division delivered a robust performance. Revenue of $4.6 billion in the first six months was up 11% year over year and EBITA rose 9% to $1 billion. EBIT was up 13% at $289 million while volume increased 7% year over year to 1.1 million tons. The market growth in air cargo in the first half was about 4%, Paul noted. Kuehne + Nagel reported strong growth in volume in most of its air freight verticals, particularly perishables, semiconductors and “hyperscalers” — IT equipment providing the cloud infrastructure that powers modern digital applications and services. Paul said hyperscalers was “a promising field” that Kuehne + Nagel was actively pursuing, with “quite a few” people from the high-tech sector employed by the company in the past few weeks to grow the business. “This vertical ... is growing significantly and we expect it will bring high single-digit growth to the air freight business going into the fourth quarter,” he said. Meanwhile, subdued demand in European markets dragged down earnings in K+N’s road logistics business. Revenue was flat year over year at $2.2 billion, but EBIT plunged 26% to $59 million. The acquisition of Spanish groupage logistics provider TDN was completed at the end of the second quarter, enabling Kuehne + Nagel to expand its regional coverage on the Iberian Peninsula. In K+N’s contract logistics division, the second quarter was the strongest in the history of the business unit, with revenue growing 5% year over year to just shy of $3 billion. However, foreign exchange effects saw EBIT falling 2% year over year to $125 million. Contact Greg Knowler at <a href="mailto:greg.knowler@spglobal.com">greg.knowler@spglobal.com</a>. </div>

Kuehne + Nagel (K+N) Thursday reported above-market share growth in both air and ocean volumes in the first half of the year, although foreign currency headwinds weighed on the forwarder’s financial results. The negative foreign exchange effects were most noticeable in US dollar-denominated ocean freight. Despite a 20% increase in first-half ocean revenue to $5.9 billion and an 11% increase in second-quarter revenue to $2.8 billion, K+N’s earnings before interest and taxes (EBIT) in the ocean segment fell 5% year over year to $462 million in the first half and slid 16% to $98 million in the second quarter. Markus Blanka-Graff, CFO for Swiss-based Kuehne + Nagel, described the currency headwinds as “one of the most significant developments” this year. “Since ‘Liberation Day’ at the start of Q2, we have seen the devaluation of our key functional currencies, the US dollar and Euro, relative to our reporting currency, the Swiss franc,” Blanka-Graff told analysts on a first-half earnings call, referring to the launch of the Trump administration’s new tariff policy. “The average exchange rate for these currencies declined by 8% and 4% year over year, respectively,” he added. “This resulted in a 6% EBIT headwind in the second quarter alone, or 3% on a half-year basis.” Total first-half revenue was up 12% at $15.7 billion and earnings before interest, taxes, depreciation and amortization (EBITDA) increased 4% to $1.5 billion, although overall EBIT fell 1% to $937 million and net profit slid 1% to $700 million. While Kuehne + Nagel has maintained its full-year profitability forecast, the currency effect saw the forwarder adjusting its EBIT guidance range from $1.9 billion to $2.2 billion to $1.8 billion to $2 billion. ‘Solid operational performance’ Although the negative foreign exchange effects undermined its earnings, Kuehne + Nagel CEO Stefan Paul said the forwarder put in a “solid operational performance” in the first half. In the volatile demand and rate environment that followed President Donald Trump’s April 2 “Liberation Day,” when tariffs were rolled out on the US’ trading partners, Paul said Kuehne + Nagel was able to offset declining ocean volumes to and from the US with gains in other markets. Overall container volume rose 4% year over year in the first half to 2.1 million TEUs against market growth of 1%, with Kuehne + Nagel also reporting “substantial market share gains” on the trade route from Asia to Europe. “We gained a significant amount of new businesses in the RFQ [request for quotation] season during the first half and we are confident we will see the same pattern in the third and the fourth quarters,” Paul said. Strong growth in air cargo K+N’s air cargo division delivered a robust performance. Revenue of $4.6 billion in the first six months was up 11% year over year and EBITA rose 9% to $1 billion. EBIT was up 13% at $289 million while volume increased 7% year over year to 1.1 million tons. The market growth in air cargo in the first half was about 4%, Paul noted. Kuehne + Nagel reported strong growth in volume in most of its air freight verticals, particularly perishables, semiconductors and “hyperscalers” — IT equipment providing the cloud infrastructure that powers modern digital applications and services. Paul said hyperscalers was “a promising field” that Kuehne + Nagel was actively pursuing, with “quite a few” people from the high-tech sector employed by the company in the past few weeks to grow the business. “This vertical ... is growing significantly and we expect it will bring high single-digit growth to the air freight business going into the fourth quarter,” he said. Meanwhile, subdued demand in European markets dragged down earnings in K+N’s road logistics business. Revenue was flat year over year at $2.2 billion, but EBIT plunged 26% to $59 million. The acquisition of Spanish groupage logistics provider TDN was completed at the end of the second quarter, enabling Kuehne + Nagel to expand its regional coverage on the Iberian Peninsula. In K+N’s contract logistics division, the second quarter was the strongest in the history of the business unit, with revenue growing 5% year over year to just shy of $3 billion. However, foreign exchange effects saw EBIT falling 2% year over year to $125 million. Contact Greg Knowler at greg.knowler@spglobal.com .

Maritime

Air Cargo

Air Cargo Forwarder News

Forwarding

Post-tariff foreign currency headwinds hit Kuehne + Nagel’s H1, Q2 profit

<div class="phx-topic abstract-wrapper">Local freight forwarders have reported rate increases in the range of $300 to $500 per FEU month over month and expect further slight gains if the pace of demand remains steady.</div>

Local freight forwarders have reported rate increases in the range of $300 to $500 per FEU month over month and expect further slight gains if the pace of demand remains steady.

<div class="phx-topic">Container lines active on the India-Europe trades have been able to push short-term contract and spot rates noticeably higher in July, thanks to elevated bookings powered by the onset of peak shipping season, albeit milder than the normal pattern. Local freight forwarders have reported rate increases in the range of $300 to $500 per FEU month over month and expect further slight gains if the pace of demand remains steady. Sources who spoke with the Journal of Commerce pegged average booking prices from West India (Nhava Sheva/Mundra) to Felixstowe/London Gateway or Rotterdam at between $1,700 and $1,800 per TEU and $2,000 and $2,100 per FEU. Most premier services have their vessels fully booked to their westbound allocations for the next two weeks at least, according to forwarder sources. Sporadic schedule disruptions have in some part contributed to the space pressure. CMA CGM, which had a void call on its premier “Epic” routing last week, has suspended spot bookings for Indian loads to North Europe until the end of July, sources said. “Spot space on other India-Europe connections, including the Gemini network, is also either tight or sold out on their upcoming sailings as carriers are increasingly prioritizing service contract customers for the peak season,” a sales executive at a Mumbai-based forwarding house who did not want to be identified told the Journal of Commerce. “Vessels for August are also filling fast, so carriers are constantly adjusting spot rates.” Forwarders also believe anticipated overbooked sailings have the potential to cause cargo rollovers through the first half of August. <h3>Hapag-Lloyd plans Aug. 1 rate hike </h3>Meanwhile, Hapag-Lloyd plans to roll a $500-per-container increase into its published tariff rates for India-North Europe/Mediterranean trades beginning Aug 1. Maersk and CMA CGM set new freight-all-kinds (FAK) rates on July 15 with increases of the same level. Sources also said several carriers, particularly Hapag-Lloyd and Maersk, are experiencing tight availability of 20-foot boxes in Nhava Sheva and across certain inland container depots (ICDs) in northern India. August FAK rates published by Hapag-Lloyd for Nhava Sheva-North Europe bookings seem to reflect that scenario — at $2,139 per TEU and $1,778 per FEU. “For now, rates appear to be stable and slightly climbing, but much will depend on carriers’ vessel blanking strategies for August,” a second forwarder said. Contact Bency Mathew at <a href="mailto:bencyvmathew@gmail.com">bencyvmathew@gmail.com</a>. </div>

Container lines active on the India-Europe trades have been able to push short-term contract and spot rates noticeably higher in July, thanks to elevated bookings powered by the onset of peak shipping season, albeit milder than the normal pattern. Local freight forwarders have reported rate increases in the range of $300 to $500 per FEU month over month and expect further slight gains if the pace of demand remains steady. Sources who spoke with the Journal of Commerce pegged average booking prices from West India (Nhava Sheva/Mundra) to Felixstowe/London Gateway or Rotterdam at between $1,700 and $1,800 per TEU and $2,000 and $2,100 per FEU. Most premier services have their vessels fully booked to their westbound allocations for the next two weeks at least, according to forwarder sources. Sporadic schedule disruptions have in some part contributed to the space pressure. CMA CGM, which had a void call on its premier “Epic” routing last week, has suspended spot bookings for Indian loads to North Europe until the end of July, sources said. “Spot space on other India-Europe connections, including the Gemini network, is also either tight or sold out on their upcoming sailings as carriers are increasingly prioritizing service contract customers for the peak season,” a sales executive at a Mumbai-based forwarding house who did not want to be identified told the Journal of Commerce. “Vessels for August are also filling fast, so carriers are constantly adjusting spot rates.” Forwarders also believe anticipated overbooked sailings have the potential to cause cargo rollovers through the first half of August. Hapag-Lloyd plans Aug. 1 rate hike Meanwhile, Hapag-Lloyd plans to roll a $500-per-container increase into its published tariff rates for India-North Europe/Mediterranean trades beginning Aug 1. Maersk and CMA CGM set new freight-all-kinds (FAK) rates on July 15 with increases of the same level. Sources also said several carriers, particularly Hapag-Lloyd and Maersk, are experiencing tight availability of 20-foot boxes in Nhava Sheva and across certain inland container depots (ICDs) in northern India. August FAK rates published by Hapag-Lloyd for Nhava Sheva-North Europe bookings seem to reflect that scenario — at $2,139 per TEU and $1,778 per FEU. “For now, rates appear to be stable and slightly climbing, but much will depend on carriers’ vessel blanking strategies for August,” a second forwarder said. Contact Bency Mathew at bencyvmathew@gmail.com .

Asia-Europe

India-Europe rates strengthen on peak season space demand, capacity cuts

<div class="phx-topic abstract-wrapper">The Asian Development Bank also warned in a note Wednesday that escalating tariffs and further trade friction would further dim intra-Asia growth prospects. </div>

The Asian Development Bank also warned in a note Wednesday that escalating tariffs and further trade friction would further dim intra-Asia growth prospects.

<div class="phx-topic">Intra-Asia trade risks being thrown into chaos if the US imposes hefty tariffs on goods from the region should current trade talks break down, Hutchison Port Holdings Trust (HPH Trust) warned Wednesday. While the Singapore-listed port operator, a subsidiary of Hong Kong conglomerate CK Hutchison, was commenting before the Trump administration announced trade deals with three Asian countries — Japan, Indonesia and the Philippines — late Tuesday in the US, those countries still face significant levies on exports to the US. The Asian Development Bank also warned in a note Wednesday that escalating tariffs and further trade friction would further dim intra-Asia growth prospects. HPH Trust, which controls Hutchison’s Hong Kong and mainland China port interests, said the US government sent letters to several counties in Asia to increase pressure on them to conclude trade negotiations by an Aug. 1 deadline. “If these trade deals fail to materialize, the sudden reinstatement of higher tariffs and possible sectoral tariffs by the US could trigger fresh turmoil in global trade, particularly for intra-Asia trade,” HPH Trust said. The warning was included as part of the company’s first-half results announcement. In the agreements confirmed Wednesday, Japanese exports to the US will be charged a 15% tariff, down from a proposed 25% levy, while a 19% tariff will be added to imports from the Philippines. Indonesia will also have a 19% tariff added to its exports to the US, although that is down from the 32% the US said it would apply without a deal. But other major Asian exporters to the US, including South Korea and Thailand, have yet to agree to trade deals. South Korea and Malaysia both face a 25% tariff, with Thailand and Cambodia each looking at a 36% levy. Myanmar and Laos would have exports to the US taxed at 40%. Officials from the US and China, meanwhile, are due to meet next week in Stockholm to continue talks on a trade deal, <a href="https://www.reuters.com/world/china/us-china-discuss-tariff-deadline-extension-trump-reaches-philippines-deal-2025-07-22/">Reuters reported</a>. The US has imposed an Aug. 14 deadline for reaching a deal, without which Chinese goods could face a 145% US tariff. “Uneven progress in tariff negotiations and the potential expansion of tariffs to additional products could further disrupt trade activities and weigh on growth for the region,” said Dong He, chief economist at the regional government-backed ASEAN+3 Macroeconomic Research Office (AMRO). AMRO is forecasting economic growth in the intra-Asia region to be 3.8% this year, slipping to 3.6% in 2026. Contact Keith Wallis at <a href="mailto:keithwallis@hotmail.com">keithwallis@hotmail.com</a>.</div>

Intra-Asia trade risks being thrown into chaos if the US imposes hefty tariffs on goods from the region should current trade talks break down, Hutchison Port Holdings Trust (HPH Trust) warned Wednesday. While the Singapore-listed port operator, a subsidiary of Hong Kong conglomerate CK Hutchison, was commenting before the Trump administration announced trade deals with three Asian countries — Japan, Indonesia and the Philippines — late Tuesday in the US, those countries still face significant levies on exports to the US. The Asian Development Bank also warned in a note Wednesday that escalating tariffs and further trade friction would further dim intra-Asia growth prospects. HPH Trust, which controls Hutchison’s Hong Kong and mainland China port interests, said the US government sent letters to several counties in Asia to increase pressure on them to conclude trade negotiations by an Aug. 1 deadline. “If these trade deals fail to materialize, the sudden reinstatement of higher tariffs and possible sectoral tariffs by the US could trigger fresh turmoil in global trade, particularly for intra-Asia trade,” HPH Trust said. The warning was included as part of the company’s first-half results announcement. In the agreements confirmed Wednesday, Japanese exports to the US will be charged a 15% tariff, down from a proposed 25% levy, while a 19% tariff will be added to imports from the Philippines. Indonesia will also have a 19% tariff added to its exports to the US, although that is down from the 32% the US said it would apply without a deal. But other major Asian exporters to the US, including South Korea and Thailand, have yet to agree to trade deals. South Korea and Malaysia both face a 25% tariff, with Thailand and Cambodia each looking at a 36% levy. Myanmar and Laos would have exports to the US taxed at 40%. Officials from the US and China, meanwhile, are due to meet next week in Stockholm to continue talks on a trade deal, Reuters reported . The US has imposed an Aug. 14 deadline for reaching a deal, without which Chinese goods could face a 145% US tariff. “Uneven progress in tariff negotiations and the potential expansion of tariffs to additional products could further disrupt trade activities and weigh on growth for the region,” said Dong He, chief economist at the regional government-backed ASEAN+3 Macroeconomic Research Office (AMRO). AMRO is forecasting economic growth in the intra-Asia region to be 3.8% this year, slipping to 3.6% in 2026. Contact Keith Wallis at keithwallis@hotmail.com .

Intra-Asia trade faces fresh turmoil from potential hefty US tariffs: HPH Trust

<div class="phx-topic abstract-wrapper">In the wake of several paper mill closures globally so far this year, US pulp importers will be dealt another blow on Aug. 1 when a proposed 50% tariff on cargo from Brazil will go into effect. </div>

In the wake of several paper mill closures globally so far this year, US pulp importers will be dealt another blow on Aug. 1 when a proposed 50% tariff on cargo from Brazil will go into effect.

<div class="phx-topic">After the closure — and announcements of future closures — of more than half a dozen paper mills around the globe this year, the pulp industry will see higher costs and tightened supply when a 50% US tariff on Brazil goes into effect Aug. 1, stakeholders say. As the tariffs are implemented, the US paper pulp market is especially exposed, experts say. According to Chris Rogers, head of supply chain research at S&amp;P Global Market Intelligence, the Trump administration’s plan to apply elevated duties under the International Emergency Economic Powers Act (IEEPA) would increase import tariffs on Brazil to 50%, on Canada to 35% and to the European Union to 30%. According to S&amp;P Global Market Intelligence data, those sources together accounted for 93% of US imports of wood pulp between March and May of 2025. S&amp;P Global is the parent company of the Journal of Commerce. “[The plan] carries significant risks for the US paper manufacturing sector,” Rogers wrote in a July 16 analysis. In 2023, North America was only responsible for 10% of global wood pulp demand, according to Fastmarkets’ World Pulp &amp; Recovered Paper forecast. Meanwhile, China had 43%, Europe 24%, 13% went to the rest of Asia, Latin America had 6%, and less than 2% was bound for the rest of the world. <h3>Mill closures </h3>The global pulp industry was already facing challenges before the US tariffs were announced. Falling demand for paper products, increased consolidation across sectors and reduced margins have long impacted the industry, experts say. According to data analytics company ResourceWise, at least nine mills around the world have moved forward with closures since the beginning of 2025, including several in the US. International Paper shut down its Louisiana containerboard mill in April, while Georgia-Pacific announced it would close its Georgia containerboard mill in August. Similarly, Smurfit WestRock this year closed its Minnesota coated recycle board mill and ceased production at its Texas-based containerboard mill, while Greif permanently closed two recycled paperboard mills in California and Massachusetts, ResourceWise shows. “Many chemical pulp mills in USA and Canada [have] shut down due to high cost and low margins,” said a paper pulp logistics market source. “Future capacity growth will come from Brazil, Indonesia, and Chile due to the low cost of wood and production.” A Tako board mill in Finland owned by Metsa Board and a UPM Communication Papers paper mill in Germany also closed this year. Several of the closure announcements, both in North America and internationally, cited weak demand and high operating costs as contributing factors, according to ResourceWise. <h3>Volatility instead of stabilization </h3>According to paper industry consultant EMGE’s Paper and Pulp Industry Outlook 2025, there were expectations for the paper and board sector to stabilize “somewhat” this year, but tariff announcements have only increased volatility. US imports of wood pulp fell 4.7% year over year in May, according to Rogers’ analysis. That figure includes a 19.9% slide in imports from Canada and a 6.3% drop from the EU, reflecting the different tariff rates applied under the IEEPA (deficit) and IEEPA (fentanyl) programs, including the delayed implementation of higher duties until Aug. 1, he wrote. “The US is a key destination for Brazilian pulp, and any shift in trade policy could influence global supply chains,” Fastmarkets pulp analyst Mateus Saraiva said in a July 14 Fastmarkets article. “Other exporters with lower tariff exposure may gain competitive advantage, while downstream industries such as tissue and packaging could face cost pressures. Currency movements and freight rates may further shape the net impact on landed costs.” According to Parsan Chand Mahaveer, a logistics specialist in the paper pulp industry, some shippers frontloaded their cargo to beat the approaching Aug. 1 deadline, although moving cargo earlier than usual bears its own costs. “Frontloading in volumes to the US incurs extra holding costs ranging from $30 to $50 per ton,” Mahaveer told the Journal of Commerce. “Some shippers are also circumventing tariffs by diversifying end markets and changing their supply sources, [if possible.]” Importers who do get hit with the tariff will likely be forced to shoulder the additional costs directly, ultimately positioning importers to pass on price increases to the consumer. “Most of the pulp on long term commercial agreement is being sold on [a cost, insurance, and freight] basis in the US and any impact is being absorbed by importers in the US,” Mahaveer said. “Pulp producers who import their own pulp into [the US] and distribute by themselves, they absorb the tariff impact.” Still, some sectors of the pulp industry are more exposed than others. According to Fastmarkets, more than 82% of bleached eucalyptus kraft pulp (BEKP) imported into the US comes from Brazil. BEKP, largely favored for its short life span and high quality for kraft pulping, is a type of bleached hardwood kraft (BHK) pulp, which accounted for 55% of global pulp demand in 2023, according to Fastmarkets. Meanwhile, bleached softwood kraft (BSK) — which is more commonly available in North America than BHK — accounted for 26% of global pulp demand in 2023. Contact Laura Robb at <a href="mailto:laura.robb@spglobal.com.">laura.robb@spglobal.com</a>.  </div>

After the closure — and announcements of future closures — of more than half a dozen paper mills around the globe this year, the pulp industry will see higher costs and tightened supply when a 50% US tariff on Brazil goes into effect Aug. 1, stakeholders say. As the tariffs are implemented, the US paper pulp market is especially exposed, experts say. According to Chris Rogers, head of supply chain research at S&P Global Market Intelligence, the Trump administration’s plan to apply elevated duties under the International Emergency Economic Powers Act (IEEPA) would increase import tariffs on Brazil to 50%, on Canada to 35% and to the European Union to 30%. According to S&P Global Market Intelligence data, those sources together accounted for 93% of US imports of wood pulp between March and May of 2025. S&P Global is the parent company of the Journal of Commerce. “[The plan] carries significant risks for the US paper manufacturing sector,” Rogers wrote in a July 16 analysis. In 2023, North America was only responsible for 10% of global wood pulp demand, according to Fastmarkets’ World Pulp & Recovered Paper forecast. Meanwhile, China had 43%, Europe 24%, 13% went to the rest of Asia, Latin America had 6%, and less than 2% was bound for the rest of the world. Mill closures The global pulp industry was already facing challenges before the US tariffs were announced. Falling demand for paper products, increased consolidation across sectors and reduced margins have long impacted the industry, experts say. According to data analytics company ResourceWise, at least nine mills around the world have moved forward with closures since the beginning of 2025, including several in the US. International Paper shut down its Louisiana containerboard mill in April, while Georgia-Pacific announced it would close its Georgia containerboard mill in August. Similarly, Smurfit WestRock this year closed its Minnesota coated recycle board mill and ceased production at its Texas-based containerboard mill, while Greif permanently closed two recycled paperboard mills in California and Massachusetts, ResourceWise shows. “Many chemical pulp mills in USA and Canada [have] shut down due to high cost and low margins,” said a paper pulp logistics market source. “Future capacity growth will come from Brazil, Indonesia, and Chile due to the low cost of wood and production.” A Tako board mill in Finland owned by Metsa Board and a UPM Communication Papers paper mill in Germany also closed this year. Several of the closure announcements, both in North America and internationally, cited weak demand and high operating costs as contributing factors, according to ResourceWise. Volatility instead of stabilization According to paper industry consultant EMGE’s Paper and Pulp Industry Outlook 2025, there were expectations for the paper and board sector to stabilize “somewhat” this year, but tariff announcements have only increased volatility. US imports of wood pulp fell 4.7% year over year in May, according to Rogers’ analysis. That figure includes a 19.9% slide in imports from Canada and a 6.3% drop from the EU, reflecting the different tariff rates applied under the IEEPA (deficit) and IEEPA (fentanyl) programs, including the delayed implementation of higher duties until Aug. 1, he wrote. “The US is a key destination for Brazilian pulp, and any shift in trade policy could influence global supply chains,” Fastmarkets pulp analyst Mateus Saraiva said in a July 14 Fastmarkets article. “Other exporters with lower tariff exposure may gain competitive advantage, while downstream industries such as tissue and packaging could face cost pressures. Currency movements and freight rates may further shape the net impact on landed costs.” According to Parsan Chand Mahaveer, a logistics specialist in the paper pulp industry, some shippers frontloaded their cargo to beat the approaching Aug. 1 deadline, although moving cargo earlier than usual bears its own costs. “Frontloading in volumes to the US incurs extra holding costs ranging from $30 to $50 per ton,” Mahaveer told the Journal of Commerce. “Some shippers are also circumventing tariffs by diversifying end markets and changing their supply sources, [if possible.]” Importers who do get hit with the tariff will likely be forced to shoulder the additional costs directly, ultimately positioning importers to pass on price increases to the consumer. “Most of the pulp on long term commercial agreement is being sold on [a cost, insurance, and freight] basis in the US and any impact is being absorbed by importers in the US,” Mahaveer said. “Pulp producers who import their own pulp into [the US] and distribute by themselves, they absorb the tariff impact.” Still, some sectors of the pulp industry are more exposed than others. According to Fastmarkets, more than 82% of bleached eucalyptus kraft pulp (BEKP) imported into the US comes from Brazil. BEKP, largely favored for its short life span and high quality for kraft pulping, is a type of bleached hardwood kraft (BHK) pulp, which accounted for 55% of global pulp demand in 2023, according to Fastmarkets. Meanwhile, bleached softwood kraft (BSK) — which is more commonly available in North America than BHK — accounted for 26% of global pulp demand in 2023. Contact Laura Robb at laura.robb@spglobal.com . 

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Impending Brazil tariffs increase pressure on US pulp industry

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The world of LTL is slow to embrace change. Business anachronisms permeate current supply chain processes. These vestiges of the way things used to work define the LTL freight transportation procurement process of many modern shippers.David Knuth, logistics specialist at IEWC, a global supplier of cable and wire based in Wisconsin, is happy to have modernized the RFP process, automating the entire LTL bidding procedure with Bid$ense, SMC³’s automated truckload and LTL freight transportation sourcing solution. But when prompted, he can still recall what once was.In his previous job, a large part of his duties were consumed by creating an intermodal bid package for carriers. In a spreadsheet, Knuth detailed the company’s volumes lane by lane, taking care to delete any errant keystrokes or misleading data. He would then email out the information to each carrier, taking time to respond to detailed technical questions about the spreadsheet data. Finally, he had to compile all the results, create an algorithm that would compare the carriers on each lane, and award the business.“It was a huge undertaking. It took about four months to do,” Knuth said of the old process. “It was almost a full-time job for that part of the year, every year.”In his new job at IEWC, he sat down with Bid$ense on day one and was amazed at the capabilities. Knuth had never before used a bid tool. SMC³’s latest versions of Bid$ense automate the process even further, taking truckload and LTL RFPs entirely online. The tool draws on RFP best-practices protocols to streamline the bidding communication process, enabling bidding carriers to respond accurately and promptly to shipper requests. The solution also does all the distribution work automatically, electronically submitting shipper bid data to carriers based on their actual service capabilities and performance records. Carriers are alerted with timely prompts for RFP deliverables, so shippers aren’t waiting by the phone for responses.Another benefit of automating the process is the data-cleansing assistance. When Knuth sent spreadsheets to carriers, data errors might cloud the bidding process; he might have to resend data or simply accept a price that did not truly reflect the costs of doing business. Data cleansing is incredibly beneficial, he said.The spreadsheet technique also made bidding analysis an onerous task. Since Bid$ense automates and streamlines the entire RFP process, intensive examination is now simple. SMC³ knows that each bid has more than one best outcome. With uniform responses from each carrier, shippers can quickly rank results and create an unlimited quantity of what-if scenarios to make the optimal procurement decision.Jesse Burnett of Central Garden &amp; Pet experiences many of the same benefits. Founded in 1980, Central Garden &amp; Pet has spent the last three decades growing from a small garden supply company to a provider of a range of products from dog chews and bird seed to soil supplements and natural insecticides. For much of its life, the company shipped these disparate goods via LTL and truckload carriers to retailers throughout the country, relying on each business unit to negotiate directly with their freight transportation providers. This arrangement worked fairly well for a small company, but as Central Garden &amp; Pet expanded, leadership decided to consolidate decision making.Burnett helped centralize the transportation decision making in 2015 with SMC³’s Bid$ense. Before Bid$ense, every business unit operated independently as far as negotiating with carriers.“There were a lot of different things just floating around,” he said. “We didn’t have master agreements in place; no national pricing at all. The pricing from carriers was just all over the place, depending on where you were.”The transformations he saw with Bid$ense were immediate. Burnett has been using the tool about every other year since its implementation at the company. Central Garden and Pet’s $19.6 million 2019 LTL bid saved the company just more than 9 percent when compared to its historical average. For Burnett, though, bid automation extends far beyond savings.“We knew that we weren’t getting the best pricing offer from our carriers just because nothing was centralized,” he continued. “We knew that if we combined everything from all these business units and paired it with one corporate offering, then it would drive some cost benefit with it.”When the company initially decided to centralize bid procurement, executives researched a number of different methodologies and technologies. In the end, though, Burnett found that Bid$ense was both widespread and well known, and that his carrier partners already knew how to use the application. Burnett also highlighted the data-cleansing process as a major benefit, saying the rigorous process ensures that carriers always return the best price.“It definitely has helped drive savings,” he said. “Any time you go out there and you drive that competitiveness with the carriers and they know they’re in a bid environment, it seems to sharpen their pencils.”Transportation procurement is an integral part of the modern supply chain. With Bid$ense, shippers can develop a strategic implementation plan that saves them time and money, but also helps them create strong relationships with their carrier partners. These carriers appreciate the solution’s data-cleansing process; when carriers receive a complete shipment history and future volume forecast, they don’t have to guess on pricing. Carriers that receive more data from shippers get a complete picture of that shipper’s freight, allowing them to accurately plan instead of simply preparing for the worst-case scenario. Clean data presented through an automated system can lead to both bigger shipment savings and a lasting partnership between carrier and customer.Whether customers are looking to streamline over-the-road transportation bidding by automating the RFP process or create an entirely new, centralized sourcing process, Bid$ense has the analytical horsepower to get the job done.SMC³ 2020 Customer Case Study

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Shippers save money, time with automated transportation bidding tools

If there’s one immutable truth in the world of logistics, it’s this: LTL is an inherently complex form of transportation. Tariffs, rates, DIM weights, transit times — it’s enough to confuse even seasoned logistics professionals. The solution to this knowledge gap has historically been on-the-job training or university supply chain education, but for a variety of reasons there is now a pressing need for third-party, remote LTL training that prepares logistics workers for transportation success. Global Scope Can Overlook Local Intricacies In the past, professionals looking to move into a supply chain career learned about the basics of supply chain from universities. However, many of these college supply chain programs are now global in scope, focusing on worldwide supply chain management instead of the intricacies of specialized domestic transportation. And even these programs, which used to be widespread, are becoming less common. LTL is not an industry of broad-brush strokes; supply chain professionals really need a pointillistic understanding of the logistics of LTL in order to excel in the industry. Accelerating Need for Dedicated LTL Education This lack of specified training put the onus on employers to prepare new hires with the LTL knowledge needed to do their jobs. Dedicated LTL study is a necessity, not a luxury. At the same time, changes in LTL and the broader supply chain world are accelerating. The reliance on e-commerce has ballooned since the start of the pandemic, and last-mile LTL shipments and related e-commerce strains on the supply chain won’t diminish once social distancing abates. That genie isn’t going back into the bottle. So supply chain employers need logistics workers that are fully versed in all aspects of the industry, ready to solve unique shipping and delivery problems based on their extensive supply chain knowledge But why care about LTL? It’s been reported that some shippers in today’s world are no longer concerned with what mode is used to ship their goods. A Multimodal Approach Ensures On-Time Delivery This mode agnosticism means supply chain stakeholders have to be well versed in all modes of transportation. As unforeseen weather events and other disruptions, such as protests, become more common, savvy logistics employees will need to be armed with familiarity of all modes, not just the most popular, to ensure that freight is delivered on time, without damage, and in the most financially expedient way possible. Offerings like SMC³’s LTL online education courses cover a wide range of topics from LTL basics and operations to more advanced concepts like pricing analytics and transportation law. The company also has plans to continually refresh content, adding new expert presenters and taking the feedback of students to make the courses even better as time goes on. Learn more about&nbsp;<a href="https://logisticstrainingcenter.com/smc3-courses/" rel="noreferrer" class="joc_admin__link">SMC³’s LTL Online Education program</a>&nbsp;and view the 2021 hybrid schedule, featuring live industry experts,&nbsp;<a href="https://www.smc3.com/onlinelearning2021/" rel="noreferrer" class="joc_admin__link">here.</a>

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