Futures show more downside to freight rates in 2025
SHANGHAI : Shanghai container futures trades suggest that Asia-Europe freight rates could fall further in 2025, after appearing to have peaked now. On 5 August, the index points
King Abdulaziz Port sets record with 20,645 containers handled on single ship
RIYADH : Saudi Arabia’s maritime sector is experiencing significant expansion, highlighted by the King Abdulaziz Port in Dammam achieving a milestone in container handling. The port recently set
Container ship newbuilds reach post-Covid high
Boxship newbuilding orders have burst back into life as the Red Sea crisis has caused freight and charter rates to reach levels not seen since the Covid-19 pandemic.
India’s crude oil imports from Russia surge 1000%
NEW DELHI : India now sources 40% of its crude oil imports from Russia, with year-to-date volumes averaging 1.6 million barrels per day (mbpd), according to BIMCO. This marks
Launch of FEDERALBOXX in India : The World’s First Unified Digital Networking Shipping Platfor
NEW DELHI : FEDERALBOXX announce the launch of their services in India. FEDERALBOXX is the world’s first unified digital networking shipping platform. This revolutionary platform is set to
Maersk continues with fleet renewal plan
COPENHAGEN : In continuation of its fleet renewal programme initiated in 2021, A.P. Moller – Maersk is in the process of signing newbuilding orders and time-charter contracts for
Iran releases all Filipino crew members from seized container ship MSC Aries
All Filipino crew members aboard the Portuguese-flagged MSC Aries, seized by Iranian officials, have safely returned home. The Philippines’ Department of Migrant Workers (DMW) confirmed the return of
Middle East Crisis: What could be the impact on the tanker market?
NEW YORK : Middle East tensions and a threat of war escalating is definitely on the cards, after recent events. But, unlike recent examples, it seems that this
US volumes break 2.5 million TEU mark in July; Imports from China set record high
WATERLOO : According to Descartes Systems Group’s latest Global Shipping Report, July container volumes into the United States were the third highest on record, eclipsed only by the
Ulsan Port Authority signs equity investment agreement to create publicly-led alternative marine fu
SEOUL : Ulsan Port Authority (UPA) has announced that it signed an equity investment agreement worth US$17.6 million with Hyundai Oil Terminal Corporation on 1 August 2024, to