Logistics 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 to […]
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 Bianca […]
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 to […]
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 phase-in […]
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 More