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11/292023
Another freight forwarde...
Hamburg-based German Logistics company Fr. Meyer's Sohn has acquired Swedish freight forwarder C Land Logistics to strengthen its position in the Nordic market.
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11/282023
Following CMA CGM, MSC a...
MSC has announced that it will impose a hefty surcharge of $297 /TEU on cargo passing through the Panama Canal in response to the canal's dwindling capacity. Last Tuesday, CMA CGM became the first shipping company to announce a "Panama Canal Fee Adjustment Factor" of $150 /TEU, effective January 1, 2024. The MSC surcharge, which is almost double that of French shipping lines, will come into effect on December 15.
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11/272023
Freight prices continue ...
Shanghai Shipping Exchange has released the latest Shanghai Export Container Freight Index (SCFI). After falling below 1000 points in the early period, it continued to fall slightly by 6.71 points, or 0.67%, to 993.21 points, falling for three consecutive weeks. In the four major ocean routes, the gains and losses were mixed. The Far East to Europe, the Mediterranean route has fallen sharply, but they have rebounded slightly, and the increase has increased slightly. European routes saw the large
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11/242023
In the fourth quarter mo...
Ocean carriers' operating profits in the third quarter were below pre-pandemic levels, and fourth-quarter results could be worse.
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11/232023
The United States has im...
The move comes after the United States last month imposed sanctions for the firs
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11/222023
It's congested! 96 ships...
Severe congestion in South Africa's ports has forced shipping companies to abandon services to the country.
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11/212023
The West Coast is overso...
The West Coast is oversold! Cma CGM calls on shipping companies not to grab goods in the off-season and engage in freight wars. The freight war started, dragging the Shanghai export container freight index SCFI below 1000 points again. The latest quote on the 17th continued to fall 2.94% to 999.92 points. The freight rates of major routes in Europe and the United States all fell, of which the US-West route fell 7.98% per 40 feet container, the Mediterranean route fell 3.13% per 20 feet container
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11/202023
Twenty-eight billion dol...
Thailand is launching a multi-billion dollar project that would dramatically cut shipping times between the Indian and Pacific Oceans by bypassing the Strait of Malacca, one of the world's busiest shipping lanes, Bloomberg reported.
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11/162023
Over $2.2 billion in los...
The Israeli container liner announced its consolidated results for the third quarter and nine months ended September 30, 2023. Net loss reached $2.27 billion in the third quarter of this year, compared with a net profit of $1.166 billion in the third quarter of 2022. The loss for the quarter was primarily driven by a non-cash impairment loss of $2.063 billion.
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11/152023
The longest queue time i...
The impacts of the Panama Canal and global trade are also escalating due to global warming and ongoing climate drought. Data from the Panama Canal Authority shows that as of the 13th local time, there were approximately 126 cargo ships waiting to pass near the entrance to the Panama Canal, and the queue may last as long as 12 days. The latest auction for ship passage, known as the "queue-jumping fee," hit a record of nearly $4 million, significantly raising the cost of transporting goods across
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