CNNews
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Port of calls are prohibited! Thousands of ships affected
A few days ago， India will have a major impact on ship valuations. The Mumbai-based Economic Times reported that the Indian government will announce an age limit for ships calling at the country’s ports. How will this decision change maritime trade, and how will it affect freight rates and...Read more -
A shipping company suspends US-West service
Sea Lead Shipping has suspended its service from the Far East to the West US. This comes after other new long-haul carriers pulled out of such services due to a sharp drop in freight demand, while service in the US East was also questioned. Singapore- and Dubai-based Sea Lead initially focused on...Read more -
$30,000/box! Shipping company: adjust Compensation for Breach of Agreement
ONE announced a few days ago that in order to provide reliable and safe transportation services, the Compensation for Breach of Agreement has been adjusted, which is applicable to all routes and will take effect on January 1, 2023. According to the announcement, for the goods that conceal, omit o...Read more -
Suez Canal Blocked Again
The Suez Canal, which connects the Mediterranean Sea and the Indian Ocean, has once again stranded a freighter! The Suez Canal Authority said on Monday (9th) that a cargo ship carrying Ukrainian grain ran aground in Egypt’s Suez Canal on the 9th, temporarily disrupting traffic in the waterw...Read more -
There may be no peak season in 2023, and the surge in demand may be delayed until before the 2024 Chinese New Year
According to the Drewry WCI Index, the container spot freight rate from Asia to Northern Europe rose by 10% compared with before Christmas, reaching US$1,874/TEU. However, export demand to Europe is much lower than usual ahead of the Chinese New Year on January 22, and freight rates are expected ...Read more -
149 voyages suspended!
Global transportation demand continues to decline, and shipping companies continue to suspend shipping in large areas to reduce shipping capacity. It was previously reported that only one of the 11 ships in the Asia-Europe route of the 2M Alliance is currently operating, and the “ghost ship...Read more -
Slumping demand, Big Shutdown!
The slump in global transport demand continues due to weak demand, forcing shipping companies including Maersk and MSC to continue cutting capacity. The spate of blanked sailings from Asia to northern Europe has led some shipping lines to operate “ghost ships” on trade routes. Alphali...Read more -
The volume of cargo remains high, this port charges container detention fees
Due to the high volume of cargo, the Port of Houston (Houston) in the United States will charge overtime detention fees for containers at its container terminals from February 1, 2023. A report from the Port of Houston in the United States pointed out that container throughput increased strongly ...Read more -
The world’s largest container terminal operator or change of owner?
According to Reuters, PSA International Port Group, wholly owned by Singapore’s sovereign fund Temasek, is considering selling its 20% stake in the port business of CK Hutchison Holdings Limited (“CK Hutchison”, 0001.HK). PSA has been the number one container terminal operator i...Read more -
5.7 billion Euros! MSC completes acquisition of a logistics company
MSC Group has confirmed that its wholly-owned subsidiary SAS Shipping Agencies Services has completed the acquisition of Bolloré Africa Logistics. MSC said the deal has been approved by all regulators. So far, MSC, the world’s largest container liner company, has acquired the ownership of t...Read more -
Rotterdam port operations disrupted, Maersk announces emergency plan
The Port of Rotterdam remains heavily impacted by disruptions in operations due to ongoing strikes at several terminals in Dutch ports due to ongoing collective labor agreement (CLA) negotiations between unions and terminals at Hutchinson Delta II and Maasvlakte II. Maersk stated in a recent cust...Read more -
Three shippers complained to FMC: MSC, the world’s largest liner company, charged unreasonably
Three shippers have filed complaints with the U.S. Federal Maritime Commission (FMC) against MSC, the world’s largest liner company, citing unfair charges and insufficient container transit time, among others. MVM Logistics was the first shipper to file three complaints dating from August 2...Read more
