Blogs

US Retail Imports Grow at Record Pace Despite Pandemic According to the National Retail Federation (NRF) and Hackett Associates' monthly Global Port Tracker report, imports at the United States' major retail container ports are expected to end 2021 with the highest volume and fastest growth on record, despite supply chain disruptions caused by the COVID-19 pandemic. While imports do not directly correlate with sales, the record comes as the National Retail Federation expects holiday sales in November and December to increase 11.5 percent over last year. Adani Ports Reverses Decision to Stop Handling Cargo from Iran, Afghanistan, And Pakistan Adani Ports and Special Economic Zone Ltd (APSEZ) has reversed its November 15 decision to stop handling export-import (EXIM) containerized cargo from Iran, Afghanistan, and Pakistan at its ports. The action was taken in responseo requests from terminal operators, customs broker associations, vessel operators, and importers to review the advisory issued on October 11, according to APSEZ. Government officials have pressed India's largest private port operator to withdraw the advisory, which was issued in the aftermath of a massive heroin haul at Mundra port in Gujarat in September. Carriers Skipped Quarter of European Port Calls due to Congestion While much of the attention has been focused on the port congestion and resulting backups on China to U.S. West Coast routes, new data from Alphaliner highlights the impact port congestion is having on the major carriers scheduled into the Northern European ports. The market research analyst firm is reporting that the major carriers have skipped nearly a quarter of all scheduled calls in Northern Europe on their Far East routes over the past five months. Baltic index falls as rates for larger vessels dip, posts weekly gain The Baltic Exchange's dry bulk sea freight index fell, tracking the larger capesize and panamax vessel segments. The overall index, which includes capesize, panamax, and supramax vessel rates, fell 71 points, or 2.1 percent, to 3,272. On Wednesday, it reached its highest level in over a month. The main index, on the other hand, gained 3.2 percent this week, marking its fourth weekly gain in five. The capesize index fell 162 points, or 3.3%, to 4,827. It increased by 5.1 percent over the course of the week. COSCO Containership Seeks Refuge in South Korea After Box Loss One of COSCO's containerships has sought refuge in a port of safety, abandoning a trans-Pacific voyage and returning to South Korea. Early indications indicate that the vessel encountered a Pacific storm, which is thought to have resulted in the loss of containers overboard as well as a deck collapse. There are currently few details available about the size of the loss. The Cosco Nagoya, a 13-year-old containership, departed Busan, South Korea on November 22 for the typical trans-Pacific route to Long Beach, California. Sources: https://www.marinelink.com/news/us-retail-imports-grow-record-pace-492757 https://www.shippingtribune.com/news/shipping/Adani+Ports+reverses+decision+to+stop+handling+cargo+from+Iran%2C+Afghanistan+and+Pakistan https://www.maritime-executive.com/article/carriers-skipped-quarter-of-european-port-calls-due-to-congestion https://www.hellenicshippingnews.com/baltic-index-falls-as-rates-for-larger-vessels-dip-posts-weekly-gain/ https://www.maritime-executive.com/article/cosco-containership-seeks-refuge-in-south-korea-after-box-loss