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Industry Opinions

Long-term ocean freight rates hit two-year low just as record new levels of ships enter market and overcapacity adds further pressure: Xeneta

Ioanna Kontos - August 1, 2023 0

Global long-term shipping rates sank to a two-year low in July, with the latest data from Xeneta's Shipping Index (XSI®) showing a fall of...

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COSCO SHIPPING launches 700 TEU electric boxship

Container News Team - August 1, 2023 0

COSCO SHIPPING Development successfully launched a 700 TEU electric container vessel (N997) on 26 July at No.1 Shipyard of COSCO SHIPPING Heavy Industry in...

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Freight rates rise on GRIs and Canadian strike

Container News Team - August 1, 2023 0

Transpacific rates rose to a nine-month high when the Shanghai Containerized Freight Index (SCFI) closed on 28 July, as general rate increases (GRIs) on...

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MSC tops schedule reliability rankings in June

Antonis Karamalegkos - August 1, 2023 0

MSC was the most reliable top-14 carrier in June 2023, with 70.6% schedule reliability, followed by Maersk with 69.9%, according to a recent analysis...

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Construction worker dies at Tuas mega-port site in Singapore

Container News Team - July 31, 2023 0

A worker involved with the building of Singapore's new mega-port has died after being found motionless at the construction site. The Maritime and Port Authority...

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Carriers see rate gains on India-US trades, but slide continues on other trades

Container News Team - July 31, 2023 0

With the exception of trades to the United States, container carriers operating out of India have continued to face further significant freight rate declines...

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CMA CGM exceeds US$12 million in second quarter revenues

Antonis Karamalegkos - July 30, 2023 0

French ocean carrier CMA CGM reported revenue of US$12.3 billion and net income of US$1.3 billion in the second quarter of the year. These...

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South Korean shipbuilder orders waste heat recovery systems for Maersk newbuildings

Antonis Karamalegkos - July 28, 2023 0

The world’s largest shipbuilder, HD Hyundai Heavy Industries (HD-HHI), has placed a €2.5 million (US$2.75 million) order for Climeon HeatPower 300 waste heat recovery...

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Adani to boost Mundra port capacity by 800,000 TEUs amid steady volume growth

Container News Team - July 28, 2023 0

The Adani Group is set to open a new container terminal at Mundra Port at the end of this year, as major carriers add...

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Sealand commences new intra-Asia service

Container News Team - July 28, 2023 0

Sealand Asia has announced the launch of an intra-Asia service, IA11, to connect China, Taiwan and Vietnam. The Maersk-owned container line will deploy two boxships...

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Japanese car carrier Fremantle Highway still burning off Dutch coast

Container News Team - July 27, 2023 0

Japanese shipping group K Line has confirmed that it is the operator of a car carrier that caught fire in the North Sea on...

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ONE to get larger terminal in Kobe port

Container News Team - July 26, 2023 0

Ocean Network Express (ONE) will get a larger terminal in Japan's Kobe port, after one of its shareholders, Mitsui OSK Lines (MOL), agreed to...

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Maersk announces adjustments to three services

Shipping alliances carriers and MSC control over 80% of market

Yang Ming executive: Tariffs and Mid-East conflict to shape demand

US considers easing Iran Sanctions, shipping industry eyes return in the Red Sea

COSCO SHANGHAI to join AMERIGO service

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