Empty containers pile up at global ports as trade slows
SHANGHAI : Empty containers are piling up at major ports around the world as slowing economies weigh on shipping demand. In the week of Feb. 5, the CAx
Drewry: World Container Index Down 2% This Week
LONDON : Drewry’s composite World Container Index decreased by 2% to $1,954.64 per 40ft container this week. Our detailed assessment for Thursday, 16 February 2023 The composite index
Baltic index falls for seventh straight week
LONDON : The Baltic Exchange’s main sea freight index edged higher on Friday but declined for the seventh straight week on lower demand for larger vessels, while the
Unlocking opportunities for Green Shipping in Africa : IMO
LONDON : A Green Shipping conference in Accra, Ghana (15-16 February), provided a forum to discuss opportunities and challenges for African countries in the decarbonization of international shipping.
OOCL welcomes its first 24,188 TEU container vessel “OOCL Spain”
HONG KONG : Orient Overseas Container Line Ltd. (“OOCL”) is delighted to introduce the first 24,188 TEU mega vessel to its fleet. The new vessel was officially named
Chinese shipyards hit record 47% market share in 2022
BEIJING : “In 2022, Chinese shipyards reached a market share of 47% and for the first time exceeded the combined market share of Japanese and South Korean shipyards,”
DCSA’s member carriers commit to a fully standardised, electronic bill of lading by 2030
AMSTERDAM : Digital Container Shipping Association(DCSA) announced its nine ocean carrier members commit to 100% adoption of an electronic bill of lading (eBL) based on DCSA standards by
GST Council is likely to discuss tax parity for foreign and Indian shipping lines
NEW DELHI : The Goods and Services Tax (GST) Council is likely to discuss the issue of bringing parity in taxation on Indian and foreign shipping lines to
Maersk to build flagship logistics center in Shanghai to tap Chinese market potential
SHANGHAI : Shipping and logistics company Maersk held a groundbreaking ceremony on Tuesday for its 1-billion-yuan ($150 million) integrated logistics warehouse project in Shanghai, as the company puts more
Container shipping stock prices resilient : Drewry
LONDON : Amid falling spot freight rates, Drewry has significantly reduced the industry profitability forecast for 2023 but the ongoing consolidation at the current price-to-book (P/B level) hints