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Suez Canal toll earnings set to continue falling, as vessels re-route around the Cape of Good Hope

As we enter into the third month of escalating conflict in Yemen that has prompted significant rerouting of vessels with far-reaching consequences for global...

Red Sea Greens to Chinese New Year Blues: Where are container spot prices headed?

As the Chinese New Year Blues unfold, with the “Year of the Dragon” being celebrated from the 10th to the 15th of February, 2024,...

Red Sea crisis impact on box rates more rapid than Covid-19: Xeneta analysis

The Red Sea crisis has seen ocean freight rates increase faster than in the early months of the Covid-19 pandemic as swathes of shippers...

The Red Sea Under The Microscope: A Deep Dive Into Suez Canal Rerouting And Its Consequences

The following report has been written by VesselBot, a technology company with deep logistics market expertise that brings transparency to Scope 3 transportation emissions...

Red Sea Crisis: Xeneta forecasts freight rates to rise further in February

Early indications suggest ocean freight shipping rates are set to increase further in early February amid the ongoing Red Sea crisis, according to data...

January Global Shipping Report by Descartes Datamyne

The following report has been written by Chris Jones, Executive Vice President of Industry and Services at Descartes Systems Group. In December 2023, US container...

Red Sea-Suez crisis quadruples Asia-Europe & Med rates

About 90% of all the containerized fleet that would have ideally taken the Suez Canal have now re-routed via the Cape of Good Hope....

BIMCO: Record deliveries could push container fleet above 30 million TEUs in 2024

"In 2023, shipyards delivered 350 new container ships with a total capacity of 2.2 million TEUs, beating the previous record from 2015 when 1.7...

Shipping gears up to meet 5-10% low carbon fuel target, but will fuels be available?

In this week’s “Shipping Number of the Week” from BIMCO, chief shipping analyst, Niels Rasmussen, explores the percentage of the fleet currently prepared for...

Global Shipping: Disruptions pop-back ahead of 2024

One of the largest global shipping organizations, Maersk announced pausing all its operations on the Red Sea route, a passage that accounts over 10%...

Container freight rates fall to 2019 levels while costs remain high

Liner operators continue to struggle with a worsening supply/demand balance, affecting freight rates. On average, the fleet has grown 5% and 19% compared with...

BIMCO: Coal shipments to advanced economies down 17% so far in 2023

"In the first ten months of 2023, coal shipments to advanced economies fell by 17% year on year, as demand for electricity declined and...

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CMA CGM applies new surcharges from Europe to India, Middle East Gulf and Red Sea

French ocean carrier CMA CGM announced that it will implement the following peak season surcharges, effective from 1 March. For dry cargo from North Europe,...

CMA CGM introduces Red Sea contingency fee

Marseille-headquartered box line CMA CGM will implement a contingency charge from 1 March due to the additional expenses caused by rerouting services via the...

WEC Lines enhances its reefer container fleet

WEC Lines has decided to enter the refrigerated container market by adding 45ft reefer boxes to its container fleet. The company has added the first...

Crew from sunken cargo ship saved as South Korean president steps in

All 11 seafarers on a general cargo ship were rescued by the Korea Coast Guard shortly before their vessel sank, in an event that...

Red Sea Crisis: Spiralling ocean freight rates from Far East to US may have peaked

The Red Sea crisis sent ocean freight rates from the Far East to the US spiralling by more than 150%, but there appears to...