14.6 C
Wednesday, May 22, 2024
Home News Chaos in Brazil (Financial Times)

Chaos in Brazil (Financial Times)

Confusion at ports at time when exporters should be enjoying a boom

Chaos in Brazil`s logistics sectors that started with a truckers’ strike this year has spread to the shipping industry just as Latin America’s biggest economy should be enjoying an export boom, shippers said.

Exporters keen to capitalise on Brazil’s weakening currency and bumper harvests are booking shipping, but then having difficulty finding the trucks to deliver their goods to port on time because of an ongoing dispute with drivers over freight prices, according to Maersk Line, the world’s largest container shipping company.

Competition for limited shipping space combined with the uncertainty over truck freight prices is leading exporters to over-book shipping by as much as 200 per cent from 5 per cent normally, Maersk said, creating confusion at ports.

“What we see right now is the situation is completely out of control, and getting worse,” said Antonio Dominguez, Maersk Line managing director for east coast South America.

Read more on Financial Times.

Latest Posts

Red Sea bounce gives carriers bottom line boost

Container shipping, it appears, loves a crisis. With the pandemic supercharging carrier incomes, the latest dip has been abruptly halted by the Red Sea...

Visayas Container Terminal welcomes inaugural CPX6 service call

Visayas Container Terminal (VCT), a business unit of International Container Terminal Services, Inc. (ICTSI) at the Port of Iloilo in Panay, Philippines, welcomed the...

Stolt-Nielsen to pay MSC US$290 million to settle MSC Flaminia claim

Norwegian chemical shipping group Stolt-Nielsen will pay US$290 million to MSC to settle claims resulting from the fatal explosion that claimed the lives of...

Box lines’ first-quarter margins the best since 2010, bar Covid-boom

Liner operators' operating margins for 1Q 2024 have reached the highest since 2010, excluding the period during the Covid-induced boom, according to Alphaliner’s report. Average...

Sea-Intelligence reports average minimum transit time up 39% on Asia-Med routes

The Red Sea crisis has compelled shipping lines to reroute around the Cape of Good Hope, significantly extending sailing distances and consequently increasing transit...