The two largest global container lines have mutually agreed to end their vessel-sharing partnership in January 2025. A joint statement by Vincent Clerc, CEO of A. P. Moller – Maersk, and Soren Toft, CEO of MSC, said that discontinuing the vessel-sharing alliance would allow both companies to “pursue their individual strategies”. Consultant Drewry observed […]
Read MoreDrewry’s WCI Asia-North Europe index recorded a 10% increase in the spot rate reading from pre-Christmas levels yet, export demand to North Europe ahead of the Chinese Lunar New Year (CNY) remains dampened and that is expected to continue post-holiday. Lars Jensen, CEO of Vespucci Maritime says the rate spike on the tradelane needed […]
Read MoreThe European Union (EU) and European Parliament reached an agreement on December 17, 2022, to reform the EU Emissions Trading System (ETS) which now includes the maritime sector under the scheme. Going forward, shipping companies will have to pay for carbon emissions in Europe. The new regulation will take effect by 2024, with a […]
Read MoreCHINA: The heatwave in China has forced some manufacturers in 19 cities and jurisdictions in China to shut down production for six days due to government-planned power cuts. Manufacturing power disruptions are also reported in Shanghai. The interruption is creating more bumps in the road with the approaching seven-day Golden Week holiday in October as […]
Read MoreThe container shipping orderbook currently stands at 6.6 million TEU, equal to 26.7% of the global container shipping fleet. Much of the capacity is scheduled for delivery in the next two years. However, a significant drop in ocean freight rates is unlikely to materialize as carriers have said they will implement capacity management to match […]
Read MoreAlliance carriers need to add three ships per loop to sustain weekly frequency and maintain schedule integrity on the Asia-North Europe corridor, Alphaliner analysis showed. After assessing the completion of round-trip voyages between 1 May and 15 May, Alphaliner noted that ships on Asia-North Europe loops arrived back in China, on average 20 days late […]
Read MoreDemand continues to increase, the upcoming change in season is seeing an increase in air freight requests for inventory to be stocked for Summer. To ensure goods arrive quickly, consider smaller batches of cargo across multiple uplifts. Rates are at a stable high due to capacity constraints, Jet fuel prices starting to decrease however the […]
Read MorePaul Bartlett Seatrade Maritime New The cost of fuel reflects the most immediate impact on shipping of the conflict. However, in the weeks ahead, analysts predict a broad fallout from Russia’s aggression which has generated widespread condemnation and protests too from ordinary Russian people. The bunker price hikes did not mirror the leap […]
Read MoreSam Chambers splash247 The global seaborne commodities trading map continues to be redrawn at a blistering pace in the wake of the Russian invasion of Ukraine two weeks ago. Yesterday, the United States announced a ban on Russian oil and other energy imports. “We’re banning all imports of Russian oil and gas and […]
Read MoreJackson Wood Global Trade Intelligence Descartes Western nations, including the United States, the United Kingdom and European Union along with Japan, Australia, Switzerland, New Zealand and Canada have imposed what they describe as “strong” and “severe” sanctions on Russia, following Moscow’s invasion of Ukraine. The new restrictions – which focus on additional individuals being […]
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