CMA CGM posts record $3.5bn profit for Q2 – and promises more to come
MERSEILLES : CMA CGM has posted an astonishing 2,500% increase in its net profit, to $3.5bn, for the second quarter, compared with the same period of last year. And it added that it should
Captain Of Evergreen’s Mega-Container Ship Felicitated After Vessel Transits Suez Canal Successfully
TAIWAN : Evergreen Marine Corp’s newest cargo ship, the Ever Ace, crossed the Suez Canal without a hitch , prompting the Egyptian authorities to call for a celebration. The Taiwanese captain was gifted a
DP World near deal to build Bangladesh’s largest rail ICD
DUBAI : Talks between UAE-based DP World and the government of Bangladesh are advancing regarding the construction of Bangladesh’s largest rail container depot in Gazipur district, close to the capital city of Dhaka. Last
Shortages push Freight Rates to New High
LONDON : Global shipping costs have soared to record highs after an August price surge fuelled by the scramble by firms to combat severe supply shortages as port and factory shutdowns bite. Trade experts
Containership order book doubled up in 2021 : BIMCO
COPENHAGEN : Freight rates are record high, record amounts of cargo are shipped across the Pacific Ocean, as well as globally, and the previous yearly record for new container ship orders has just been
All-inclusive rates inch up as shippers compete for space
LONDON : All-inclusive premium bookings heard in the US marketplace inched upwards during the week to Aug. 27 as port congestions on both sides of the Pacific supported market rates, and booking levels soared
World’s first Autonomous, Electric cargo ship to make voyage with zero crew onboard in November 2021
NORWAY : A Norwegian company called Yara International claims to have created the world’s first zero-emission ship that can also transport cargo autonomously. The Yara Birkeland electric cargo ship was first conceptualized in 2017
The shipping crisis is getting worse. Here’s what that means for holiday shopping
LONDON : The vast network of ports, container vessels and trucking companies that moves goods around the world is badly tangled, and the cost of shipping is skyrocketing. That’s troubling news for retailers and holiday