CNNews
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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 -
The ranking of the world’s top 20 container ports is released, and China occupies 9 seats
Recently, Alphaliner announced the list of the top 20 container ports in the world from January to June 2022. Chinese ports account for nearly half, namely Shanghai Port (1), Ningbo Zhoushan Port (3), Shenzhen Port (4), Qingdao Port (5), Guangzhou Port (6), Tianjin Port (8), Hong Kong Port (10), ...Read more -
Dubai to build new world-class superyacht refit and service center
Al Seer Marine, MB92 Group and P&O Marinas have signed a Memorandum of Understanding to form a joint venture to create the UAE’s first dedicated superyacht refit and repair facility. The new mega-shipyard in Dubai will offer world-class bespoke refits to superyacht owners. The yard is s...Read more -
In 2022, the cumulative number of China-Europe trains has reached 10,000
Since the beginning of this year, the number of China-Europe trains has reached 10,000, and a total of 972,000 TEUs of goods have been sent, a year-on-year increase of 5%. The person in charge of the freight department of China National Railway Group Co., Ltd. introduced that the high-quality dev...Read more -
More than 50 Russian companies have obtained certificates for exporting dairy products to China
Russian Satellite News Agency, Moscow, September 27. Artem Belov, general manager of the Russian National Union of Dairy Producers, said that more than 50 Russian companies have obtained certificates for exporting dairy products to China. China imports dairy products worth 12 billion yuan a year,...Read more -
Sea Freight Drops Sharply, Market Panic
According to data from the Baltic Shipping Exchange, in January this year, the price of a 40-foot container on the China-US West Coast route was about $10,000, and in August it was about $4,000, a 60% drop from last year’s peak of $20,000. The average price fell by more than 80%. Even the price f...Read more
