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Covid pandemic wiped 24.6 million TEUs off container market growth

"Due to the Covid-19 pandemic, the global container market grew only 1.5% from 171 million TEU in 2019 to 173.5 million TEU in 2023. Without...

Escalating Middle East tensions trigger projected surge in war risk premiums and freight rates

In a significant escalation of tensions in the Middle East, Iran's capture of the MSC Aries, a container ship linked to Israel, has reverberated...

Due diligence needed for maritime tech adoption to minimize risk with digital transformation

Rapid technological change, complex regulation and competitive pressures are driving digital transformation in the shipping industry. But navigating a confusing software landscape can be difficult...

EU tanker import tonne mile demand up 12% as ships avoid Red Sea area

“In 2023, sanctions on Russian oil exports by the EU caused a major shift in tanker trades and a 10% increase in average sailing...

Singapore’s EU ETS liabilities of €330 million can accelerate green shipping initiatives

Singapore-registered vessels will be required to contribute a significant €330 million (US$355 million)m share of Asian shipping’s total emissions liabilities under the EU ETS,...

Veson Shipping Market Outlook: Chinese economy’s recovery, elevated interest rates and ongoing political tensions add to an atmosphere of uncertainty

Veson Nautical, which delivers maritime freight management solutions, said there are several elements of unpredictability affecting the shipping market forecasts for the second quarter...

Baltimore bridge collapse has not triggered rate increase

The collapse of the Francis Scott Key Bridge in Baltimore has caused supply chain disruption on the US East Coast but, so far, it...

Container traders anticipate rise in disruptions and increase in container prices in the Wake of Baltimore Bridge Collision

In the aftermath of the Baltimore Bridge collision, supply chain professionals are anticipating price hikes, as indicated by a significant rise in sentiment for...

Demand shocks drive ship recycling to lowest level in 20 years

Over the past eight quarters, ship recycling of bulkers, tankers and container ships has dropped to the lowest level in 20 years. A combination of...

Baltimore rerouting not impacting broader ocean operations or rates so far: Freightos Analysis

Salvage crews have already started working to clear the wreckage from last week’s bridge collapse in Baltimore. Despite this task’s complexity and obstacles in the way, the...

China’s container trade faces hold-offs due to supply-demand imbalance

Container xChange has released its latest China market update, shedding light on the current container price trends in China. Despite expectations of price drops post-Chinese New Year,...

Ocean rates keep sliding, but some rebound for air: Freightos analysis

In the latest development in the Red Sea crisis, Houthis recently announced threats to expand their attacks to Indian Ocean traffic, aimed at disrupting vessel...

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CMA CGM updates Asia peak season surcharges

The French carrier, CMA CGM Group, has announced an updated Peak Season Surcharge effective from 20 June 2024, until further notice. The surcharge applies to...

U.S. container imports to surpass 2 million TEUs for next 7 months

The Global Port Tracker report, released jointly by the National Retail Federation (NRF) and Hackett Associates, forecasts that monthly inbound cargo volumes at U.S....

Pier owner seeks to arrest MSC boxship after near-miss

An arrest warrant has been issued against one of Mediterranean Shipping Company's ships, MSC Michigan VII, after Charleston port officials accused the vessel of...

Asia-Europe spot rates could surpass US$20,000 per FFE

Spot rates have continued to soar this week, causing significant concern among shippers about how high these rates might climb. However, the reality is that...

OOCL celebrates maiden voyage of two new mega vessels

Orient Overseas Container Line (OOCL) is celebrating the maiden voyage of its latest two 24,188 TEU mega vessels, "OOCL Finland" and "OOCL Sweden." With these...