CMA CGM and Maersk enter into decarbonisation partnership
MARSEILLE / COPENHAGEN : Two of the largest container shipping companies, Maersk and CMA CGM have decided to collaborate on decarbonisation initiatives. Both ocean carriers believe that working together can assist in accelerating the
Global production of shipping containers piles up at major ports because of lack of demand for goods
LONDON : Global production of shipping containers has fallen significantly as demand for goods sank following the easing of pandemic restrictions, leaving the corrugated steel boxes piled up at major ports. Figures provided to
Container shipping under pressure as peak season hopes dim
LONDON : One of the earlier scenarios for container shipping’s 2023 peak season went like this: Importers would get cocky and keep much of their business in the spot market. Shipping lines would heavily
Evergreen’s new terminal in Kaohsiung to boost container volumes
KAOHSIUNG : Taiwan International Ports Corporation (TIPC) Chairman Lee Hsien-yi stated on 5 May that the newly built No. 7 terminal in Taiwan’s Kaohisung port is the country’s first fully automated container terminal, and
Container shipping under pressure globally due to high interest rates : S&P Global Commodity Insights
SINGAPORE : Container shipping, globally, will be “under pressure” because of high interest rates and inflationary pressures across developed economies; which in turn brings in “recessionary traits”, says Pradeep Rajan, Head – Asia Freight,
Container freight rate slide on larger Indian trades slows amid contract negotiations
MUMBAI : The slide in container freight rates on some of the trades routes out of India seems to have slowed, according to the latest market analysis. On the westbound India-Europe trade, average contract
The economy is in a ‘freight recession,’ with China trade decline continuing
NEW JERSEY : As the big East and West coast ports jockey for supremacy in total trade volume coming into the country, the pie is getting smaller as the economy softens. The latest trade data released
MSC’s secondhand boxship buying spree passes 300 mark
GENEVA : Mediterranean Shipping Co’s (MSC) secondhand buying spree has hit the 300-vessel threshold according to analyst Alphaliner. In its weekly newsletter Alphaliner said that MSC was reported to have purchased six vessels in recent