Ocean freight rates record higher levels in Red Sea crisis
MUMBAI : Ocean freight rates are heading to record high levels with global events like the Red Sea crisis; port congestion especially in the Middle East and Asia regions; container repositioning imbalance – with
US East Coast Ports face challenge of diverted Baltimore cargo : Drewry
LONDON : Maritime industry consultancy Drewry flags potential challenges for the US East Coast ports due to the diversion of Baltimore’s container volumes combined with expected market growth in 2024. The Port of Baltimore is the
How shipping containers can make or break the global economy
LONDON : The shipping container is a logistics marvel that can affordably move thousands of items from hundreds of different companies all around the globe. If there is a slowdown in shipping-container circulation, there
Drewry: Multipurpose Time Charter Index moving higher
LONDON : The Drewry Multipurpose Time Charter Index tracks one-year period charter rates across a basket of vessel types and sizes and forecasts the market movement over the coming month. The vessel types include
Shipping containers to post two consecutive years of decline: Drewry
LONDON : The global pool of shipping containers is expected to contract in both 2023 and 2024, according to Drewry’s latest report on the container equipment market. “While stubbornly high levels of inflation in
Forwarder says lines creating “artificial demand”
LONDON : A European freight forwarder has accused the lines of creating “artificial demand” by blanking sailings and talking up a looming empty box crisis. The forwarder, who wanted to remain anonymous, claimed that
Red Sea crisis pushes container shipping spot rates to highest level in over a year
LONDON : Attacks on ships in the Red Sea continue to push ocean freight rates higher, triggering warnings of inflation and delayed goods. To avoid strikes by Iran-backed Houthi militants based in Yemen, carriers
Shipping industry steers container production away from China
LONDON: The shipping industry is stepping up efforts to build steel containers outside China, lining up the spare capacity needed to shield a key component of global trade from supply chain pressures and geopolitical