MSC’s lawyers file opposition to possible FMC default judgment

MSC’s lawyers have objected to a potential default judgment from the US Federal Maritime Commission (FMC) for allegedly failing to produce documents relating to a shipper’s complaint. In July 2021, US furniture maker MCS filed complaints with the FMC, alleging that MSC and COSCO Shipping Lines reneged on their contractual obligations to supply shipping slots for exports […]

Intra-Asia rates out of India crash amid tightening market conditions

While container freight rates across trades out of India have cooled over the past few months, new data obtained by Container News from local forwarder sources now point to a more precipitous slide in intra-Asia connections. Rate levels from India to Central/North China, Singapore and Hong Kong have slid between 30% and 50% this month from the […]

Ningbo closing in on Singapore as world’s second largest container port

Singapore is now facing the possibility of being overtaken by China’s Ningbo-Zhoushan port as the world’s second-busiest container port, 12 years after losing its crown as the world’s busiest box port to Shanghai. Alphaliner’s latest report on 21 September noted that Ningbo-Zhoushan handled 17.54 million TEU in the first half of 2022, just 1.08 million […]

Yang Ming chairman: Market correction is “temporary”

Yang Ming Marine Transport chairman Cheng Cheng-mount has asserted that the ongoing correction in container freight rates is just a blip and the market should not be worried that the segment could return to its pre-pandemic struggles. At an investment seminar organised by Taiwan Stock Exchange on 12 September, Cheng said that China’s Covid-19-related lockdowns […]

Hapag-Lloyd, Bolloré Logistics ink biofuel agreement to reduce GHG emissions

Hapag-Lloyd and Bolloré Logistics have recently signed an agreement to promote the use of marine biofuel and contribute to the reduction of their maritime greenhouse gas (GHG) emissions. This commitment, starting on 1 September, for a weekly allocation of 100 TEUs transported with biofuel, will allow a reduction of around 1,500 tons of CO2 emissions […]

Maersk inks agreement to open second warehouse in UAE

Maersk Kanoo UAE signed an agreement with Dubai South, the largest single-urban master development focusing on aviation, logistics and real estate, for its new warehousing and distribution (W&D) facility in Dubai. With its second warehousing & distribution (W&D) facility spread over 15,000m² at Dubai South, the Danish company strengthens its network in the United Arab […]

Empty container problem intensifies, reports Sea-Intelligence

Sea-Intelligence revisited its analysis of the eventual normalisation of supply chains and the potential impact on empty container flows. The underlying data for this model comes from the Flexport Ocean Timeliness Indicator (OTI) data, which measures the time it takes from when the cargo is ready at the exporter to the importer’s delivery. “Pre-pandemic, the […]