The 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 wider […]
Read MoreThe Los Angeles and Long Beach ports on the U.S. West Coast enjoyed a robust performance in October, marked by a significant surge in imported containers. Los Angeles handled 372,455 TEU (twenty-foot equivalent units), representing a 10.7% increase over the previous year. Long Beach, on the other hand, witnessed an even more impressive 23.6% jump […]
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 long-awaited surge in inactive tonnage, driven by a wave of new large vessels delivered from shipyards, appears to have temporarily subsided. However, this lull may be short-lived as the industry faces a further increase in idle capacity. Despite the influx of larger vessels, box ships with capacities of 12,500 twenty-foot equivalent units (TEU) and […]
Read MoreThe International Longshoremen’s Association (ILA), the union representing dockworkers on the U.S. East and Gulf coasts, warned members to prepare for a possible coast-wide strike in October 2024. Harold Daggett, the President of the ILA, conveyed this message to the rank-and-file members. He also mentioned that an update on wage negotiations with ocean carriers […]
Read MoreAir cargo is poised to benefit from a potential decline in ocean shipping reliability in 2024 as the industry grapples with the implications of changes to antitrust regulations. Xeneta chief airfreight officer Niall van de Wouw, speaking at the TIACA executive summit, highlighted the key factors shippers consider when choosing between air and ocean freight. […]
Read MoreThe Panama Canal Authority (ACP) has announced further restrictions on ship crossings, starting February 1, 2024, in response to an intensifying drought that has caused water levels in the canal to reach record lows. The drought, which is being blamed on the El Niño weather pattern, has had a significant impact on global trade, with […]
Read MoreAfter a period of dominance by East Coast and Gulf Coast ports, the momentum has shifted back to the West Coast. Imports from Asia are starting to head back to America’s Pacific gateways, with the West Coast regaining some lost ground. There are a few factors driving this shift. First, the labor issue on the […]
Read MoreAfter four weeks of gains, spot container freight rates are expected to decline in November, as shipping lines continue to add capacity despite weak demand. The Shanghai Containerised Freight Index (SCFI) closed on 3 November with Transpacific rates still up, but Shanghai-North Europe rates had already begun to retreat. This is due to carriers adding […]
Read MoreMembers of the West Coast Marine Terminal Operators Agreement (WCMTOA) announced that the PierPass fee will increase on November 1, 2023 by 4 percent, from USD 34.21 per TEU (twenty-foot equivalent unit), and USD 68.42 for all other container sizes, to USD 35.57 per TEU, and USD 71.14 per FEU (forty-foot equivalent unit), respectively. This fee is called the PierPass […]
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