(left to right) Elaine Low, Area Managing Director, Maersk Southeast Asia, Ditlev Blicher, President of Maersk Asia Pacific, Vincent Clerc, CEO of A.P. Moller-Maersk Maersk will invest more than US$500 million in expanding its supply chain infrastructure to support Southeast Asia’s emergence as a global production hub and a consumption powerhouse. Maersk’s planned three-year investment […]

Maersk Line has reached an out-of-court settlement with the parties it sued for damages resulting from the grounding of Ever Given in the Suez Canal two years ago. The 20,124 TEU Ever Given, owned by Japanese tonnage provider Shoei Kisen Kaisha and on long-term charter to Taiwanese mainline operator Evergreen Marine Corporation, became grounded on 23 March […]

Hong Kong consultancy Linerlytica suggests that the carriers are struggling to achieve the General Rate Increases (GRIs) that they have supposedly imposed amongst the increase in capacity and persistent low demand, which will lead to greater capacity management according to one expert. Long term shipping commentator and industry insider John McCown in his latest report […]

Port of Shanghai / Source: SIPG Chinese ports experienced a year-over-year 4.9% uptick in container volume for January-October period, with the box throughput reaching a total of 257 million TEUs. At the same time, over the ten-month period, cargo volume at Chinese ports surpassed 14 billion tons, marking an 8.5% year-on-year increase. The following chart […]

Panama Canal MSC has announced it will implement a Panama Canal Surcharge (PCS) of US$297 / container for cargo from Adia to the Caribbean transiting the Panama Canal. The new surcharge will be effective from 15 December. “During the second quarter of 2023, the Panama Canal Authority decided to reduce the draft from 14.94 to […]

DK Butterfly-1 Inc. is looking to recoup costs and reparations for losses during the pandemic of up to US$347 million in a complaint filed with the Federal Maritime Commission (FMC) against MSC on 28 November. The shipper, formerly known as Bed Bath and Beyond (BBBY) was forced to file for Chapter 11 bankruptcy protection in […]

Kuehne+Nagel has announced the acquisition of Farrow, a Canada-based customs broker, saying this transaction complements its offering for companies that increasingly rely on customs clearance services and supports the growing demand in an environment of increasingly complex international trade regulations. Headquartered in Windsor, Ontario, Canada, Farrow’s service is rooted in a 112-year heritage and is […]

The construction of two storage and manoeuvring yards in the Inner Port has been completed, with a total area of approximately 20,000 m², as well as access roads, a railway track connector, and the necessary electrical, water and sewage, fire-fighting, and telecommunications infrastructure. All of the work has been done, and the grain warehouse acceptance […]

South Korea’s Dongwon Group and Harim Group will be vying to take control of the country’s flagship box line HMM. Dongwon, South Korea’s largest fishing group, and Harim, parent of the country’s largest dry bulk shipping business Pan Ocean, submitted their entries when the one-day tender closed at 5pm local time on 23 November. South […]

French ocean carrier CMA CGM has announced new Freight All Kinds (FAK) rates from Asia to North Europe, the Mediterranean and North Africa. The following increased rates will be effective from 15 December until further notice and will be applied to dry, out of gauge (OOG), paying empties and reefer cargo. 20’GP 40’GP/40’HC/40’REEFER Asia to […]