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
China-Russia vs US-EU: How global shipping is slowly splitting in two
NEW YORK : Another meeting between a House speaker and Taiwan’s president, another spike in tensions in the Taiwan Strait. Last summer’s meeting between Taiwan President Tsai Ing-wen and Nancy Pelosi prompted Chinese live-fire exercises.
Container lines post strong earnings in 2022 : Sea-Intelligence
COPENHAGEN : Shipping lines reported very strong financial results for 2022, according to the latest report by the Danish maritime data analysis company Sea-Intelligence. At the time of writing, 12 of the largest container
Wärtsilä launches radical two-stroke derating solution
HELSINKI : Wärtsilä has launched a new solution to allow two-stroke engines to meet tightening emissions regulations into the future. The radical derating solution dubbed Wärtsilä Fit4Power will enable a reduction of engine bore
Shipping, allied industries battle choppy waters as margins sink
MUMBAI : Shipping and allied industries are bracing for a rough patch with depleting margins as freight rates are falling to pre-Covid levels or even lower in certain cases with containers accumulating at Indian
Freight rates for Indian exports continue to cool ahead of carriers’ GRI attempts for US services
MUMBAI : Container carriers serving Indian trades are seeing no letup in the erosion of export freight rates amid a slowdown in cargo volumes, according to the latest market analysis. On the westbound India-Europe
China remains most important partner for German seaports in container traffic
BEIJING : China remained the “most important partner” for German seaports in container traffic in 2022, accounting for more than one-fifth of the country’s container throughput, the Federal Statistical Office (Destatis) said it recently.