After several years of volatility, the air cargo market is anticipated to stabilize in 2024, with a return to “classic seasonality.” However, industry experts caution that unforeseen events could still cause turbulence. Data provider Xeneta projects modest growth of 1-2% for air cargo volumes in 2024, while supply is expected to increase at a slightly […]
Read MoreThe maritime industry, responsible for a significant 3% of global carbon emissions, finds itself at the forefront of environmental transformation efforts. With the support of EU funding, two groundbreaking vessel designs and retrofit technologies for existing cruise ships and bulk carriers have been developed. Maritime sustainability forms a cornerstone of the EU’s strategy to reduce […]
Read MoreThe outlook for air cargo demand in 2024 remains uncertain, with industry experts offering a range of projections from flat growth to moderate increases. While there is some optimism that demand could recover from its current slump, ongoing economic and geopolitical uncertainties cloud the picture. At the Tiaca Executive Summit event, Rogier Blocq of […]
Read MoreLogistics depots across Europe are struggling to cope with a surge of empty shipping containers as the economic downturn in the Eurozone and falling trade volumes exacerbate the issue. Industry experts at Container xChange claim that the cost of repositioning empty containers now surpasses their asset value, discouraging container lessors from shipping them back […]
Read MoreThe demand for the Asia-North Europe trade is weak and uneven, so carriers are adjusting their sailings and port calls to cope with the situation. A carrier source said they were trying to be flexible and responsive to the market needs. MSC announced today that it would cancel the next sailing of its MSC […]
Read MoreAs the bustling summer season kicks off, labor disputes have disrupted the flow of shipping in the United States. Members of the International Longshore and Warehouse Union have staged protests, resulting in congestion and delays at U.S. West Coast ports, as reported by CNBC. The average wait times for container vessels attempting to enter Los […]
Read MoreThe 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 […]
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