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Wednesday, February 21, 2024
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Braemar sees looming crisis in feeder sector

Demand for feeders is rising mainly as a consequence of the Red Sea crisis which has had a knock-on effect on demolition, but ultimately...

Worker killed as shipbuilding structure topples in HD Hyundai Heavy Industries

A shipbuilding structure weighing 9,000 tonnes came loose at South Korean shipbuilder HD Hyundai Heavy Industries (HHI) on the evening of 12 February, killing...

CMA CGM replaces Brazilian port call on BRAZEX service

French box line CMA CGM has announced changes to its weekly BRAZEX service connecting the US Gulf, Latin America and the Caribbean. Commencing with the...

Maersk may pursue DB Schenker

Maersk Line might become a suitor for Deutsche Bahn’s logistics subsidiary DB Schenker after an initial lack of interest. The Danish liner giant’s CEO Vincent...

No large ships idled this week

Following the impact of the Houthi attacks on commercial shipping in general and container ships in particular the number of large boxships idled fell...

Maersk’s revenue takes US$30 billion hit in “transitional year”

Like the majority of container carriers, Maersk has seen huge drops in its 2023 financial figures. The Danish company reported a US$30 billion decline in...

Container rates surge amid Red Sea crisis

In response to the escalating Red Sea crisis, Container xChange, an online container logistics platform, has released a comprehensive report detailing the far-reaching effects...

Spot rates bottoming out, but contract rates to rise in tandem with costs

While spot container freight rates appear to have peaked, contract rates are expected to go up to reflect the increased costs of sailing round...

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...

ONE introduces world’s first dual-temperature refrigerated container

Ocean Network Express (ONE) announced the introduction of the world's first trial for a dual-temperature refrigerated container featuring Controlled Atmosphere (CA) capabilities, developed in...

Maersk commences new service between Middle East and Europe

Maersk will launch a new weekly service connecting the Middle East with Europe in mid-February. The new service, called ME8, will sail via the...

CMA CGM halts Red Sea transits

French container shipping company CMA CGM informed its customers that as from 1 February 2024 and until further notice, all services initially routed via...

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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...

Wan Hai and ONE launch joint service to link Asia with US West Coast

Taiwan's ocean carrier Wan Hai Lines has announced the revamp of its Asia-Pacific Service (AP1), to enhance its current network on the United States...