Fed holds main interest rate steady despite accelerating inflation
Two policymakers on the Federal Open Market Committee dissented in favor of raising the federal funds rate by 0.25 percentage point.
Two policymakers on the Federal Open Market Committee dissented in favor of raising the federal funds rate by 0.25 percentage point.
The challenge begins when a shipper decides that waiting for a delayed vessel is more expensive than paying a premium for air freight, industry leaders told the group’s conference in Miami.
But Baker Hughes, Halliburton and SLB, key drivers of energy project cargo, are also riding the wave of US data center demand to boost their work backlogs.
Despite the implementation of the updated Air Cargo Advance Screening requirements being pushed back to May 2027, compliance will be difficult, industry leaders told the Tiaca conference.
The second-largest US LTL provider by revenue sees more positive indicators early in the fourth quarter after sequential gains in tonnage through September.
The railroad said some systems were gradually returning to service, but that significant operational restrictions remained due to the outage, which began Tuesday and was determined to not be a cyberattack.
The strike threat from unionized security personnel comes as the Southern California gateway is already experiencing congestion and rising rail container dwell times due to record or near-record container volumes this summer and fall.
The new ships join a ballooning backlog of vessels that has swelled to more than 200 ships totaling 2 million dwt, equivalent to 23% of the existing fleet, according to data from shipbroker Clarksons.
Management said on the company’s third-quarter earnings call that early bidding opportunities could require average double-digit rate increases, although it cautioned it was too early to forecast pricing for the entire year.
Notwithstanding the rate correction, sources believe unchanged or only slightly lower westbound allocations on the lane have kept carrier spot asks from crashing more steeply.