The Shanghai Containerized Freight Index increased 11.3 percent from last week to a reading of 884.95, thanks to sharp increases from Shanghai to Northwest Europe and the Mediterranean.
U.S. gross domestic product increased 2.9 percent in the third quarter of 2016, according to the “advance” estimate from the Department of Commerce, following a revised increase of 1.4 percent in the second quarter.
The technology startup Otto and Budweiser have completed the world’s first shipment by a self-driving truck.
Registration takes less than 1 minute.
Investments in new projects are slowing, and Neil Davidson, senior analyst in Drewry’s ports and terminals practice, warned that a sudden rebound in demand could be a problem.
Peak season capacity took a major hit in third quarter 2016 as carriers scrambled to replace services interrupted by Hanjin Shipping’s Aug. 31 bankruptcy announcement.
Bigger vessels that can fit through the expanded section of the Panama Canal represent a small portion of the total traffic so far, but the new locks have only been open for less than four months.