The easing of Covid-19-related bottlenecks in China’s Yantian container port in June has been short-lived, as another outbreak has resulted in congestion again. This morning (11 August), Ningbo port authorities suspended operations in Ningbo Meidong Container Terminal after a worker tested positive for Covid-19. The worker, who lived in a dormitory on the premises, initially […]

Dry freight shipping container prices have skyrocketed in a year to reach record highs, but will decrease in the next years, according to Drewry’s newly released Containers Census & Leasing Annual Review and Forecast 2021/22 study. Dry box newbuild prices rebounded significantly in 2020, rising 75% year-on-year to their highest threshold since 2011 by the […]

Freight rates continue to rise globally due to several factors, such as the container shortage and the economic pull of the United States, according to the Port Authority of Valencia (PAV). In particular, the high demand for maritime transport in combination with the lack of empty containers, the shortage of capacity and equipment, the price […]

OOCL Logistics and OOCL Liner Services have announced the launch of a new multi-modal container service from China to the US East Coast, with the vision to meet customer demand by offering an alternative shipment. Starting with the “Chang An” China-Europe block train service from Xian to Kaliningrad of Russia, then with the onward feeder […]

Port of Long Beach (POLB) has handled a record number of 784,845TEU for the month of July, presenting an increase of 4.2% from the same period of last year, which was the previous “record July”. Particularly, container imports saw a year-on-year (YoY) slight growth of 1.6%, with 382,940TEU, while exports noted a significant decrease of […]

A big number of European ports constitute major gateways for international transportation. Apart from the giant container port trio Rotterdam – Antwerp – Hamburg, there are several European hubs which are also developing, achieving to be considered as key hubs for European and global supply chain. The following list includes the busiest box ports in […]

The Federal Maritime Commission (FMC) has launched an inquiry, asking eight shipping companies to provide information about the congestion and related surcharges they have implemented. The carriers identified as having recently implemented or announced surcharges and contacted by FMC are CMA CGM, Hapag-Lloyd, HMM, Matson, MSC, OOCL, SM Line and Zim. The Commission’s Bureau of […]

Amid ongoing action to rescind the massive fines imposed by the Korea Fair Trade Commission (KFTC) on South Korea’s liner operators, lawmakers plan to amend the country’s Monopoly Regulation and Fair Trade Act to exempt the shipping industry from its jurisdiction to prevent a recurrence. KFTC has imposed a fine in excess of US$613 million […]

Ocean Network Express (ONE) has seen an astronomical increase of 1,432% in its 2021 first-quarter profits, which exceeded US$2.55 billion, mainly driven by the continuous strong container market. Besides, the Singaporean line has announced significant growth in its revenue, earnings before interest and taxes (EBIT) and earnings before interest, taxes, depreciation, and amortisation (EBITDA) during […]

The German logistics company, Rhenus Group is further expanding its presence in the Polish market with the planned acquisition of the Polish freight forwarding and logistics company C. Hartwig. With this acquisition, Rhenus is aiming to strengthen its global Air & Ocean network and expanding its position in Eastern Europe. The nine new polish locations […]