International shipping industry faces soaring freight costs as war rages
DUBAI : The cost of shipping goods around the world is likely to continue to rise due to geopolitical turmoil, experts have predicted. Alongside soaring fuel prices resulting
DFDS commits to Battery-Electric Vessels on the English Channel
COPENHAGEN : Danish shipping company DFDS announced it has committed to investing in battery-powered vessels to help decarbonize the maritime traffic across the English Channel. Following a meet between French
PSA celebrates double wins at Supply Chain Asia Awards 2023
SINGAPORE : It was a night of double celebration at the Supply Chain Asia Awards 2023, as PSA International’s Group CEO Tan Chong Meng was conferred with the
Xeneta Shipping Index (XSI®) October 2023: Upturn in the long-term ocean freight shipping market pr
OSLO : Any hopes of a revival in long-term ocean freight shipping rates were short-lived after the latest data from Oslo’s Xeneta indicated the market is once again
US East Coast vs. West Coast: More imports shift back to Pacific ports
CALIFORNIA : In the perennial tug-of-war between West Coast and East Coast ports, the momentum has shifted yet again. Imports from Asia are starting to head back to
Dry Bulk Market – Challenging Week for Capesizes : Baltic Exchange
LONDON : The capesize market started the week on a sluggish note with the PPA conference in Perth creating a quieter atmosphere, leading to reduced trading volumes in
Maersk’s woes signal slow-motion industry crash
COPENHAGEN : Shipping giant A.P. Moller-Maersk is battling choppier seas. the $23 billion Danish firm revealed a 94% profit plunge in the third quarter. Boss Vincent Clerc is not
Panama Canal traffic is being throttled by climate change impact
CAIRO : The Panama Canal doesn’t have enough water. A lack of rainfall, blamed on climate change, is leading to a steady decline in water levels on the
14 methanol-powered ships ordered in October
HAMBURG : A total of 14 orders for methanol-powered ships were recorded in October as demand for alternative fuels in the maritime industry continues to rise in line
Israel-Hamas War rocket attacks are leading oil tankers to make unusual moves near ports
HAIFA : Oil tankers in the Red Sea are taking unusual actions amid the Israel-Hamas war, shutting off their global tracking transponders — called Automatic Identification Systems (AIS)