Ocean Network Express (ONE) has obtained design approval for a revolutionary ammonia-fueled container ship, signaling its commitment to exploring diverse zero-carbon fuels for the maritime industry. The approval, granted by the classification society DSV, pertains to the design of a dual-fuel 3,500-TEU ship capable of being powered by ammonia—a colorless chemical that emits no […]
Read MoreThe Red Sea disruption to container shipping remains uncertain in terms of duration, according to Drewry Maritime Research. The anticipation is that carriers might not resume Suez Canal transits until the elimination of the risk of attack, a process expected to take months rather than weeks. Despite this, Drewry’s analysis suggests that the impact on […]
Read MoreThe spot rates for shipping goods from Asia to the US have risen sharply this week, as carriers applied the planned GRIs on Jan. 15 and added a PSS for both the West and East coast deliveries. Moreover, importers who send their cargo to the East Coast through the Panama or Suez canals, or […]
Read MoreLong Beach, CA: The Port of Long Beach is chugging into the “Year of Rail” in 2024, with a focus on modernizing facilities, boosting air quality, and ultimately becoming the world’s first zero-emissions seaport. CEO Mario Cordero laid out the ambitious plan in his State of the Port Address, highlighting the Pier B On-Dock Rail […]
Read MoreWest Coast ports are bracing for a tidal wave of incoming goods as supply chain woes and international tension collide. This perfect storm stems from several factors: Inventory restocking: Retailers are replenishing shelves after periods of low stock, driving up import demand. Homecoming cargo: Goods that shifted to other ports during last year’s labor talks are returning to […]
Read MoreThe Red Sea, one of the world’s busiest shipping lanes, faces unprecedented risks as Houthi rebels launch escalating attacks on commercial vessels. Houthi Motives and the Murky Web of Attacks: The Houthis, backed by Iran, claim their strikes target vessels with Israeli ties. However, experts highlight the indiscriminate nature of attacks, raising concerns about […]
Read MoreOn December 26, the Office of the United States Trade Representative (USTR) made an important announcement regarding the extension of active Section 301 China product exclusions. Originally slated to conclude on December 31, 2023, the 429 exclusions are now set to endure until May 31, 2024, as outlined in a comprehensive report by the […]
Read MoreGood news for homebuyers! Mortgage rates have dropped for the ninth consecutive week, providing a glimmer of hope in a housing market that has been tough on wallets since the 1980s. After dipping below 7% for the first time since August in early December, rates continued their downward slide. The average 30-year fixed-rate mortgage now […]
Read MoreWhile the 2024 crystal ball remains cloudy, a glimmer of hope shines for the air cargo industry. Geopolitical turmoil and unpredictable supply chains could create a surge in demand for its reliable services. December saw promising signs: Demand surged 9% year-over-year, partly driven by a weak 2022 comparison. Spot rates climbed to their highest in nine […]
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