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August 28 2023

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Spotlight www.joc.com August 28, 2023 | Journal of Commerce 7 1/3 horizontal ad currently depressed container shipping market, terminal operators are looking to the future and focusing much of their attention on emerging markets like South- east Asia, India, Africa and Latin America, where they believe much of the growth will originate. Leading the expansion drive is DP World, which plans to add 3 million TEUs of capacity across its global terminal portfolio by the end of the year. Manila- based International Container Terminal Services Inc. (ICTSI) and APM Terminals are also investing heavily in emerging markets. The Dubai-headquartered port operator handled 79 million TEUs in 2022, up 1.4% year over year, and Tiemen Meester, COO of ports and terminals, said the group has set a medium-term target 01346 Gain full access to extensive data dashboards, analyst reports and full daily coverage from our journalist team. Become a premium member Gold subscription Panama Canal delays raise risks Vessel and dra restrictions on the Panama Canal have not affected most shippers — at least not as of mid-August — but the resulting queue of container ships waiting to transit the canal does bear watching for importers moving goods into the US for the coming fall and win - ter seasons. The Panama Canal Authority on Aug. 8 reduced the total number of ships that can pre-reserve a transit to 14 from 19, with that reduction expected to last at least through Aug. 21. The reduction means fewer than 34 ships can move through the canal in both directions daily, compared with the 34 to 42 it can handle at peak capacity. The reduction in transits followed a move in June by the Authority that reduced the maximum dra for neo-Panamax vessels from 50 feet to 44 feet. However, those delays have not translated into a significant increase in late arrivals at US East and Gulf coast ports. A cargo operations analyst at the Port of New York and New Jersey who asked not to be identified said there has been "no impact so far" on vessel schedules to the largest East Coast seaport. Should the delays increase, it would put more pressure on rates and vessel capacity, along with squeezing space on transloading and rail services from the West Coast to the Midwest, said Joe Monaghan, CEO of New Jersey-based forwarder Worldwide Logistics Group. "Custom - ers haven't seen the delays they are going to be seeing," Monaghan said. "We're expecting very soon people are going to start saying, 'Where's my freight?'" Shutterstock.com APM Terminals

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