ZIM adds Cai Mep Port call to Asia-East Med service rotation
HAIFA : On 8 January 2023, ZIM Integrated Shipping Services unveiled an enhancement to its ZMP Service, a pivotal route linking Asia with East Mediterranean. The latest development
OOCL revenues plunge in 2023, amid solid container growth
HONG KONG : COSCO-owned Orient Overseas Container Line (OOCL) has seen a huge 49% decrease in its fourth quarter revenues, compared to 2022 Q4, reporting US$1.62 billion. In
COSCO Shipping halts shipping to Israel : Israeli media
JERUSALEM : Chinese shipping firm COSCO has suspended shipping to Israel, Israeli financial news website Globes reported on Sunday. The report, which did not include details behind the
India-US shippers hit by three rounds of hefty rate hikes in January
MUMBAI : Indian shippers are getting flooded with general rate increase (GRI) and peak season surcharge (PSS) notices as container lines attempt to maximise pricing out of the
How Red Sea attacks put India’s trade at risk
NEW DELHI : The Gaza war has long posed the risk of escalating into a broader crisis for the Global Economy, and recent developments in the Red Sea
Red Sea attacks leave shipping companies with difficult choices
CAIRO : The shipping companies that move goods on one of the world’s busiest trade routes for factories, stores, car dealerships and other businesses face an excruciating decision. They can
Charting the Global Economy: Employment growth picks up in US
WASHINGTON : US hiring picked up along with hourly earnings at the end of 2023, though some metrics in the closely watched jobs report and a separate services
A.P. Moller – Maersk and the Government of Tamil Nadu enter a strategic partnership
CHENNAI : A.P. Moller – Maersk (Maersk) and the Government of Tamil Nadu signed a Memorandum of Understanding (MoU) during the Tamil Nadu Global Investors Meet 2024. As
MSC overtakes Maersk in becoming the World’s largest shipping line
GENEVA : MSC Mediterranean Shipping Company solidified its position as the most extensive shipping line in the world in 2023 with the addition of over one million TEUs
Maersk diverts its Vessels from Red Sea ‘For the Foreseeable Future’
COPENHAGEN : Danish shipping giant Maersk has decided to divert all its vessels due to transit the Red Sea and Gulf of Aden south around the Cape of