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 in spot crude prices which saw Brent […]
Read MoreWith the pressure on equipment capacity showing no sign of abating, freight forwarders are increasingly turning to “shipper-owned containers (SOCs)” to minimize the risk associated with port congestion and potential penalties, amid Covid-induced supply chain dysfunction. The top 50 forwarders accepting SOC requests had risen sequentially from 6% in 2019 to 18 % in 2021, […]
Read MoreGlobal port congestion will continue going into Q2, container shipping analysts tell shippers. Asia-based Linerlytica reports escalating port congestion at North America, with ports on both the East and West coasts recording new highs. The company calculates that 10% of the global containership fleet, the equivalent of 2.53m TEU, is presently tied up by port […]
Read MoreIn February port congestion seemed to be reaching a plateau. The evidence to support that conclusion was the line of ships waiting for a berth at Los Angeles/Long Beach, which had seen a steep decline for the first time in a while. Unlike in the past, it seems that was not due to changing the […]
Read MoreThe World Trade Organization’s (WTO) chief economist said last week that global trade bottlenecks are the result of a surge in demand rather than a supply chain disruption. The expectation is for pressure to ease in the coming months. The WTO had believed demand for goods would slow in early 2022 but the Omicron variant […]
Read MoreThere 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 MoreThe air cargo market should be cautious about drawing conclusions based on January’s market performance, said Niall van de Wouw, chief airfreight officer at Xeneta. Aside from the uncertainties caused by COVID, the aviation industry encountered added challenges brought on by 5G concerns in the U.S., winter weather episodes impacting flight schedules and an earlier-than-usual […]
Read MoreAccording to the latest Road Freight Rate Benchmark published by Transport Intelligence (Ti) and Upply, high prices across Europe have been driven by driver shortages, rising fuel costs, supply chain congestion and a supply-demand imbalance. The Benchmark index stood at 108.3 in Q4 2021, higher by 1.1 points than in Q3 2021 and 3.2 points […]
Read MorePort congestions in North America and Europe continue to put pressure on the Carriers’ schedules, as vessels are not making the journey back to Asia timely. The port overwhelms in Los Angeles and Oakland (currently 1 to 3 weeks waiting time) has had ripple effects worldwide, with the Suez Canal and Yantian recent crisis adding […]
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