CNNews
-
Boom over? Imports at U.S. container port plunge 26% in October
With the ups and downs of global trade, the original “hard to find a box” has become a “serious surplus”. A year ago, the largest ports in the United States, Los Angeles and Long Beach, were busy. Dozens of ships lined up, waiting to unload their cargo; but now, on the eve...Read more -
The “Yuan” continued to strengthen in November
On the 14th, according to the announcement of the Foreign Exchange Trading Center, the central parity rate of the RMB against the U.S. dollar was raised by 1,008 basis points to 7.0899 yuan, the largest single-day increase since July 23, 2005. Last Friday (11th), the central parity rate of the RM...Read more -
Germany Partially Approves COSCO Shipping’s Acquisition of Hamburg Port Terminals!
COSCO SHIPPING Ports announced on the Hong Kong Stock Exchange on October 26 that the German Ministry of Economic Affairs and Energy had partially approved the company’s acquisition of the Hamburg Port Terminal. According to the tracking of the most shipping company for more than a year, th...Read more -
MSC Acquires Another Company, Continues Global Expansion
Mediterranean Shipping (MSC), through its subsidiary SAS Shipping Agencies Services Sàrl, has agreed to acquire 100% of the share capital of Rimorchiatori Mediterranei from Genana-based Rimorchiatori Riuniti and DWS Infrastructure Investment Business Management Fund. Rimorchiatori Mediterranei is...Read more -
Volumes will face a sharp drop in the fourth quarter
The major container hub ports in northern Europe are facing a significant reduction in calls from the alliance (from Asia), so the final quarter of the year is likely to face a significant drop in throughput. Ocean carriers are being forced to significantly adjust weekly capacity from Asia to Eur...Read more -
A sudden explosion! RMB soars over 1,000 points
The RMB staged a strong rebound on October 26. Both the onshore and offshore RMB against the US dollar rebounded significantly, with intraday highs hitting 7.1610 and 7.1823 respectively, rebounding more than 1,000 points from the intraday lows. On the 26th, after opening at 7.2949, the spot exch...Read more -
The decline of freight rates has narrowed significantly, and the freight rates of many sub-routes in Southeast Asia and the Middle East have risen sharply
The latest container freight index SCFI released by Shanghai Shipping Exchange reached 1814.00 points, down 108.95 points or 5.66% for the week. Although it fell for the 16th consecutive week, the decline did not increase the cumulative decline because last week was China’s Golden Week. On ...Read more -
EU’s ban on Russian crude sparks buying frenzy for ice-class tankers, with prices doubling from last year
The cost of buying oil tankers capable of navigating icy waters has soared ahead of the European Union’s imminent imposition of formal sanctions on Russia’s seaborne exports of crude oil at the end of the month. Some ice-class Aframax tankers were recently sold for between $31 million and $34 mil...Read more -
Container rates may fall to pre-pandemic levels before Christmas
At the current rate of decline in spot rates, shipping market rates could fall to 2019 levels as early as the end of this year – previously expected by mid-2023, according to a new HSBC research report. The report’s authors noted that according to the Shanghai Container Freight Index ...Read more -
Maersk and MSC continue to cut capacity, suspend more headway services in Asia
Ocean carriers are suspending more headway services from Asia as global demand plummets. Maersk said on the 11th that it will cancel capacity on the Asia-North Europe route after suspending two trans-Pacific routes at the end of last month. “As global demand is expected to decrease, Maersk ...Read more -
MSC, CMA and other major shipping companies have cancelled and closed routes one after another
MSC confirmed on the 28th that MSC will “take certain measures” to rebalance its capacity, starting with the suspension of a complete route service, as the demand from the United States and the West from China has “reduced significantly”. The major ocean carriers have so f...Read more -
COSCO SHIPPING and Cainiao cooperate with the whole chain the first container arrives at the “overseas warehouse” of ZeebruggeBelgium
Recently, COSCO SHIPPING’s “CSCL SATURN” cargo ship departing from Yantian Port, China arrived at the Belgian port of Antwerp-Bruges for loading and unloading operations at CSP Zeebrugge Terminal. This batch of goods prepared for China’s “Double 11″ and “...Read more
