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04/102024
Claim for US$12.3 millio...
Flexport, the world's leading technology logistics giant, has officially filed a lawsuit of up to US$12.3 million against Giti Tire, accusing the latter of refusing to pay huge container demurrage fees and leaving Flexport to bear the costs.
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04/092024
The market seeks alterna...
As a strategic alternative to promote the flow of goods between Eurasia, the importance of the China-Europe international railway transport service is increasingly recognized by the outside world.
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04/082024
Famous American companie...
The American shoe giant Shoes for Crews (branded non-slip shoes) filed for bankruptcy protection on April 1. Its creditor list revealed a thought-provoking phenomenon: freight and logistics costs accounted for 41% of the company's total debt, amounting to nearly 1,000 Ten thousand U.S. dollars. This high debt ratio highlights the importance of logistics chains in the current business environment.
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04/072024
Freight rates end 7 cons...
The latest Shanghai export container Freight Index (SCFI) released by the Shanghai HNA Exchange shows that the index recovered to 1,745.43 points this week, up 0.83%, ending a seven-week decline. The small increase in European route rates remained stable, while the US East and US West route rates continued to fall by about 2%, but the decline has narrowed. Routes to the Persian Gulf and South America saw increases of more than 10 percent.
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04/032024
Declare general average?...
The fallout from the Baltimore bridge collapse continues. Due to the significant damage caused by the accident, it is increasingly likely that the owners of the container ship DALI will declare general average (GA), which means that the owners may be under pressure to pay a large bill. Although attorneys representing ship owner Grace Ocean and operator Synergy filed a petition in Maryland District Court on April 1 claiming no liability for the accident and seeking limited damages, asking for any
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04/022024
Get ahead of yourself! ...
Recently, Ocean Network Shipping (ONE), a member of THE Alliance, and Yangming Shipping jointly announced the 2025 Trans-Pacific route service plan, which will be formally implemented in February of the following year. THE launch of this route service is designed to reduce the impact of Hapag-Lloyd's exit from the Alliance in 2025 on the routes of the alliance.
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04/012024
China-Europe freight tra...
On March 29, China-Europe train X8155, fully loaded with 55 containers, departed from Xi'an International Port Station and headed west to Duisburg, Germany. This marked that the number of China-Europe trains (Xi'an) exceeded 1,000 in 2024. There were 107 more trains opened compared with the same period last year, an increase of 12%.
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03/292024
The port is paralyzed! A...
The Executive Committee of the Finnish Trade Union (SAK) decided on the 28th to extend the current national strike plan for another week. The newly announced strike is scheduled to begin at 06:00 on April 1 (in line with the expected end time of the current two-week strike) and will end at 06:00 on April 8.
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03/272024
Maersk container ship co...
According to CCTV News, a bridge in Baltimore, Maryland, USA collapsed due to a ship collision in the early morning of the 26th local time. According to US media reports on the 26th, at least seven people are known to have fallen into the water when the Baltimore bridge collapsed. The Baltimore city government declared the bridge collapse a "multiple casualty incident."
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03/262024
The Chinese Yuan suddenl...
On March 25, the RMB exchange rate market experienced another turmoil. In early trading, the RMB exchange rates both at home and abroad soared by about 400 basis points. Among them, the exchange rate of RMB against the US dollar in the domestic onshore market once regained the 7.2 mark and hit a high of 7.1902; the exchange rate in the offshore market also rose to 7.2316. The market was surprised by this sudden change, and foreign exchange traders expressed their surprise.
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