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Kevin Mackay-led Teekay Tankers said it has now secured time charters for 13 of its vessels since October 2019, securing $170m of fixed forward revenuesPhoto: Bill Levey Teekay ties up nine tankers as it reports 'best quarter in a decade' Suezmax and aframax specialist also repays $200m worth of debt in move to increase financial flexibility

The Port of Long Beach saw a 17 percent year-on-year drop in container volume in April, the latest sign of the coronavirus pandemic's effects on America's biggest deep sea ports. Imports were down by 20 percent, overseas-bound empties were down 12 percent and exports fell by 17 percent. For the first four months of the year - including the period in January before COVID-19 trade disruption arrived on the West Coast - Long Beach's total volume by TEU fell by nearly 10 percent.... Manufacturing is on the rebound in China, easing the challenges faced on the East Asian side of the transpacific trade lanes. However, decreased U.S. consumer demand due to COVID-related stay-at-home orders drove down import volumes, the port said. Exports were hampered by a shift of carrier services. We look forward to a recovery stage and rebounding cargo shipments as the nation contemplates relaxing shelter-in-place orders, people return to work and consumer demand rises - however it will not be in the short term, said Mario Cordero, Executive Director of the Port of Long Beach. In the meantime, we continue to collaborate with importers, exporters, terminal operators and labor to develop a recovery plan while ensuring the safe and reliable delivery of goods moving through the Port of Long Beach. The port cautioned that there are more challenges ahead. At Long Beach and the adjacent Port of Los Angeles - the San Pedro Bay port complex - ocean carriers are expected to cancel 48 voyages in the second quarter of the year. This is about five times the number of blanked sailings the complex saw in Q2 2019. At the Port of Los Angeles, total volume declined by 6.5 percent year-on-year in April. In a briefing in early May, port executive director Gene Seroka described the result as "better than expected" under the challenging circumstances. See more

The Port of Oakland has announced that Japanese carrier ONE is launching a new Asia-U.S. service which will provide the first-ever direct link between Oakland and the Middle East. The first ship in the service, the ONE Aquila, should arrive at Oakland International Container Terminal on May 7. The new route, called the Far East Pacific 2, will be operated by a total of 18 container ships. Each of the ships will have a capacity to carry 14,000 TEU. That places them among the... largest container vessels calling at U.S. ports, according to the port. ONE is combining two existing routes calling at the Port of Oakland to create this service. The route will reach nine ports in Singapore, Thailand, Vietnam, Japan, Hong Kong, China, the U.S., and Saudi Arabia. The Far East Pacific 2 service will incorporate stops at Saudi Arabia’s Jeddah port, providing Oakland’s first direct connection to the Middle East. Until now, ships from the Arab world transferred Oakland-bound cargo to other vessels at intermediate ports.

Economic Slowdown Reshuffles Container Movements File imageBY PAUL BENECKI 05-07-2020 02:14:00 With global trade down sharply due to the coronavirus pandemic, container traffic volumes have fallen by double-digit percentages at many seaports. The top ocean carriers are suspending entire service loops, returning chartered vessels and idling a significant portion of their global fleets. The entire ocean freight industry faces unprecedented headwinds - and these challenges affe...ct containers on the ground as well. It isn't possible for the general public to track container movements in real time, but some stakeholders have a good view into patterns and trends. Chassis pool operators know when a chassis leaves a terminal with a box and when it comes back, and the dwell time gives a view into what is happening with the average container. (Only a small minority of chassis are fitted with GPS trackers, so more granular usage data is harder to come by.) According to Mike Wilson, the CEO of gray chassis pool manager Consolidated Chassis Management (CCM), fewer chassis are in use now - but the average length of time that a container stays on the chassis is getting longer.