In recent months, the container shipping industry has been experiencing significant shifts, particularly affecting container shipping from Australia to the Pacific Islands and Papua New Guinea (PNG). The changing dynamics in shipping container rates, volumes, and services have brought both challenges and opportunities to the sector. Increased Shipping Rates One of the most notable developments […]
Following Egypt’s Al-Mal News, recent data indicates a 64.3% decrease in the revenues of the Suez Canal last month, dropping down to approximately $337.8 million in comparison to May 2023’s impressive $648 million. Coinciding with this, May also saw a substantial decrease in the number of vessels passing through the canal, as only 1,111 ships […]
Breaking News! Ocean freight levels are skyrocketing, particularly on the Far East Westbound trade from Asia to Europe. This surge is due to a mix of sustained capacity demand, blank sailing programs, and an unfavourable outlook on the ongoing Red Sea crisis. A significant week-on-week increase in all major trades was reported on 26th April. […]
Prime trade associations globally are rallying for increased international support in Red Sea naval security endeavors. This plea, issued via an open letter, has been signed by top-tier trade organizations in the US such as the American Apparel and Footwear Association and the National Retail Federation. At the moment, the main defense effort shielding merchant […]
The Transpacific container trades are witnessing a positive uptick in spot rates due to a powerful combination of robust demand and meticulous capacity management, perfectly timed for the contract season. The Drewry World Container Index, an every-Thursday representation of spot rates across eight East-West container trades, reveals a three-week decline in freight rates from Asia […]
The recent crisis in the Red Sea, where attacks on container vessels continue to prompt significant disruption in global trade routes, has led to a dire prediction from shipping giant Maersk: This tumultuous situation might persist for up to a year. On January 27, 2024, the tanker Marlin Luanda was set ablaze after an assault […]
The intensifying tensions in the Red Sea region have prompted FIATA to call for enhanced global monitoring and coordination to assure the smooth functioning of INTERNATIONAL CARGO and maritime transport. The Red Sea shipping lane, a busy link between Europe and Asia, has been fraught with persistent attacks on commercial vessels, prompting about 18 shipping […]
17 Jan, 2024. Houthi rebels have once again targeted a ship in the Red Sea, this time focusing their attack on a Greek-owned bulk carrier. This incident adds to the escalating tensions in the region. • In a recent operation, the US military intercepted Iranian-supplied weapons that were en route to the Houthis. This interception […]
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