There is growing agreement in the maritime industry that current supply chain disruptions will persist throughout 2022. Alphaliner reported a 26% surge in container ships purchased in 2021, the equivalent of 1.94 million twenty-foot equivalent units (TEUs). In the charter market, rates have reached record highs. Alphaliner said liners have acted to secure tonnage before […]
Read MoreThe International Chamber of Shipping is calling on shipping stakeholders and governments to help prevent Russian and Ukrainian seafarers from becoming ‘collateral damage’ in the conflict between Russia and Ukraine. According to a 2021 report published by BIMCO and ICS, there are 1.89 million seafarers operating over 74,000 vessels in the global merchant fleet. The report estimates that 10.5% […]
Read MoreShenzhen might have got through the worst of another Covid lockdown, but the ripple effects of China’s battle with omicron are seeing ships back up along the nation’s coastline with carriers forced to change schedules to avoid growing congestion issues. Shenzhen came out of a seven-day lockdown yesterday, and while its port workers were allowed […]
Read MoreAfter two weeks since Russia’s invasion of Ukraine, there seems to be a negligible impact on the container prices and leasing rates in China. Container availability has improved soon after the Chinese New Year until Friday across key ports in China. However, with the announcement of nationwide lockdowns, the supply chain must prepare for another […]
Read MoreAs an impact of the Chinese New Year linked import slowdown from China, followed by the latest Covid connected lockdown in various Chinese provinces, and the Russian invasion in Ukraine, Bangladesh’s shipping circle is facing severe equipment shortage. Ship liners fear a further spike of box shortages in the coming weeks as the situation further […]
Read MoreThe spectre of blank sailings may be about to return to haunt shippers and forwarders on the Asia-Europe trades, as carrier begin to cancel departures in an effort to restore schedule reliability. Japanese carrier ONE this morning told customers THE Alliance would cancel three sailings on the FE2 and FE3 service departing Asia at the […]
Read MoreVessel capacity and service have been prioritized above price. Retailers and Importers have signed long-term contracts at significantly higher levels in Trans-Pacific Eastbound trades than in previous years, Xeneta reported. Rates have continued to climb the past two months even as contract negotiations continue. “Trans-Pacific contracts are catching up with spot market rates,” Alan Murphy, […]
Read MoreWe are witnessing the remaking of the world order in front of our eyes — and this will impact global supply chains in unforeseen ways. We are about to experience the most dramatic and unpredictable supply chain map we’ve experienced since World War II. If the Russia-Ukraine conflict’s international ramifications keep spreading, we face a […]
Read MoreRussian import bookings declined 40% over the past week and will obviously fall further after growing ~64% in 2021 from the previous year, resulting in a 75% increase in goods by value, according to the Census Bureau. This put the imported goods value at its highest level since 2012. This direct economic hit will more than […]
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