The announcement of Hanjin Shipping Co. Ltd. (the seventh largest container line in the world) filing for court receivership is expected to lead to an immediate increase in rates and tightening of capacity.
Per Hanjin customer announcement, “All containers intended to load on vessels are put on-hold for loading as per instruction of our head office to avoid further problems that may incur at transshipment port. Advance booking confirmation which have been released will also be put on hold. Kindly refrain from sending out truckers to our CY (container yard) for empty container withdrawal, our CY has been advised not to release empty containers to truckers”.
Additional detail from the Wall Street Journal: http://www.wsj.com/articles/troubled-hanjin-shipping-to-sell-healthy-assets-to-rival-1472611190
In other news, harbor trucking companies in Los Angeles – Long Beach are using a mobile app called GeoStamp to allow them to better manage truck dispatch and avoid trouble spots in a real-time environment.
GeoStamp allows users to geofence an area (including terminals, segments such as out-gate and in-gate, chassis pit, trouble windows, inspection sites, and highways) to capture real-time data within that area. Aggregate weekly and monthly data is collected to analyze recurring conditions to correct problems that contribute to congestion.
Harbor Trucking Association worked with InfoMagnus to develop and expand the software. Weston LaBar, Executive Director of Harbor Trucking Association commented, “Metrics are good for the industry as a whole”.
It is expected that the use of the app will expand to other ports.