The number of vessels waiting for a berth at the Port of Vancouver stood at over 50 on Monday as CN reported a major setback in efforts to restore rail service on a key portion of its network.
The rail briefly reopened its Vancouver-Kamloops line over the weekend but quickly shut it down as more heavy rain hit southern British Columbia, the company said in a statement to American Shipper.
“After moving seven trains during the weekend, CN took the decision to proactively close its network as the large amounts of precipitation into British Columbia were causing increased debris, washout and landslide activity,” CN (NYSE:CNI) said.
FreightWaves, American Shipper
President Joe Biden said his administration has made strides toward relieving U.S. supply chain disruptions, as he met Monday with the leaders of major retailers including Walmart Inc. who assured him they have ample inventories for the holiday season.
The meeting, and Biden’s remarks, were intended to reassure Americans anxious about the lingering pandemic and its impact on the economy. Polls indicate a majority of voters believe the country is headed in the wrong direction, despite reduced unemployment and growing economic output under Biden.
Starting on December 1, the CMA CGM Group will offer incentives to importers to pick up their containers from terminals at the ports of Los Angeles and Long Beach within eight days of their arrival. This early container pickup incentive program will run for 90 days and is intended to help improve fluidity at America’s largest import gateway.
Shippers who pick up their containers within the eight-day window will receive $100 per container for daytime weekday pickups and $200 per container for night and weekend pickups.
CMA CGM says the incentive funds will “offset costs incurred by tensions on [customers’] supply chains.”
China’s manufacturing activity likely remained subdued in November, with weak domestic demand in the economy outweighing any relief that came from an easing in energy shortages.
The official manufacturing purchasing managers’ index is forecast to improve slightly to 49.7 from 49.2 in October when it’s released Tuesday, according to the median estimate in a Bloomberg survey of economists. That would be the third month it stays below the key 50-mark, indicating a contraction in production.
The non-manufacturing gauge, which measures activity in the construction and services sectors, is forecast to fall to 51.5 from 52.4 in the previous month.
The Port of Hamburg has achieved a new record in rail container volumes, reaching 2.1 million TEU during the first nine months of the year, representing a growth of 8.3% year-on-year.
Additionally, during the third quarter, the German port posted the highest quarterly total in its history for containers transported by rail, marking 709,000TEU, according to Axel Mattern, Port of Hamburg Marketing’s Joint CEO.
Furthermore, during the first nine months, the Port of Hamburg handled a total of 6.5 million TEU in its terminals, reflecting a rise of 2.4% compared to the same period of the previous year.