Cargo volumes in Red Sea area drop 21% due to attacks on ships : BIMCO
LONDON : “During the first seven weeks of 2024, cargo volumes to and from ports in the Gulf of Aden and Red Sea declined 21% y/y. The number
Baltic index hits over 1-month high on sturdy vessel rates
LONDON : The Baltic Exchange’s dry bulk sea freight index extended gains for an eighth straight session to touch 1-1/2 month peak on Tuesday, buoyed by climbing rates
CMA CGM’s financials declines amid stable container volumes
MARSEILLE : French ocean carrier CMA CGM reported revenues of US$47 billion in 2023, translating to a 36.9% decline compared with 2022 figures, EBITDA of US$9 billion, down
Asia to Europe containerised exports surge to 16.5 million TEUs in 2023
TOKYO : According to data compiled by the Japan Maritime Center (JMC) using information from Container Trades Statistics (CTS), containerised exports from Asia to Europe reached 16.58 million
ONE achieves another milestone with record-breaking load
SINGAPORE : Ocean Network Express (ONE) has achieved another milestone with a sixth consecutive record-breaking load, this time aboard the ONE Infinity. Last week, the vessel set a
OOCL boosts fleet with new eco-friendly Ultra Large Container Vessel
WAN CHAI : Orient Overseas Container Line (OOCL) announced the introduction of its latest mega container ship, named OOCL Abu Dhabi. This addition marks OOCL’s eighth eco-friendly vessel
CMA CGM gets approval from EC to acquire Bolloré Logistics
MARSEILLE : The European Commission (EC) has approved the proposed acquisition of compatriot transport and logistics firm Bolloré Logistics by French shipping major CMA CGM. The approval is
Panama Canal revenues up 14.9% in 2023 despite transit restrictions
PANAMA CITY : Panama Canal’s revenues increased by 14.9% to $4.97 billion in 2023, despite handling less cargo due to draught and transits restrictions caused by drought. While
US warns of environmental disaster from cargo ship hit by Houthi rebels
WASHINGTON : A cargo ship abandoned in the Gulf of Aden after an attack by Yemeni rebels is taking on water and has left a huge oil slick, in an environmental disaster that US Central Command said Friday could
Impact to global trade of disruption of shipping routes in the Red Sea, Black Sea and Panama Canal &
GENEVA : This UNCTAD rapid assessment looks into the situation of interntional shipping amid disruptions that have the potential to reshape global maritime networks and reconfigure the world