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Bottlenecks in key regions such as the Los Angeles port complex and North European ports, exacerbated by the Suez Canal blockage and container shortages have seen growing congestion along supply chains. Project44 VP marketing at project44 Josh Brazil argues the industry must learn lessons from the events of the last year. Congestion at ports around […]
07
May
May
Global non-vessel operating common carrier (NVOCC), CargoGulf has announced the launch of a new container liner service between North Asia and the Arabian Gulf, which is called North Asia Gulf Express (NAGE) service and complements its Arabian Gulf to Asia (AGA) service serving trade to/from Southeast Asia introduced last year. The new service will offer […]
07
May
May
Demand for cargo on major trade lanes has increased substantially and the returns to the shipping lines and vessel owners have also increased with billions of dollars-worth of profits reported for the first quarter of this year by the lines and as the demand and profits have risen so have time charter rates and vessel […]
07
May
May
Evergreen Marine Corporation achieved a TW$16.17 billion (US$567.13 million) net profit for Q1 2021, reversing the TW$733.15 million (US$24.24 million) net loss in Q1 2020. Revenue was up 35% to TW$64.69 billion (US$2.27 billion), according to preliminary unaudited figures disclosed on 6 May. Despite concerns that the grounding and subsequent detention of the Evergreen-operated Ever […]
07
May
May
A Covid-19 cluster has emerged in Singapore’s container port, after a trailer driver tested positive, leading to fears that the virus could have spread through the port. Singapore’s Health Ministry announced on 6 May that it is testing port workers, after a trailer driver, who worked at Brani and Pasir Panjang Terminals, tested positive for […]
05
May
May
China’s Wenzhou continues to build overseas container shipping links, with SITC Container Lines launching a service connecting the port to the Philippines. On 1 May, the 2,700TEU SITC Port Klang departed Wenzhou with containers bound for Subic, Manila North, Cebu and Makassar in the Philippines. This is Wenzhou’s seventh overseas route so far and is […]
05
May
May
Asian container ports have marked the highest efficiency scores in the world, dominating the top-50 positions of the global efficiency ranking according to the new global Container Port Performance Index (CPPI) launched by the World Bank and data company IHS Markit. The report scored ports against different metrics, making the efficiency ranking comparable around the […]
05
May
May
Increased freight rates caused by strong demand coupled with significant operational challenges such as bottlenecks, lack of capacity and equipment shortages in global supply chains led Maersk to earnings and growth across all its businesses in ocean, port services and logistics during the first quarter of the year. Earnings Before Interest, Taxes, Depreciation, and Amortisation […]
01
May
May
Wan Hai Lines is raising rates on its Taiwan-Vietnam services as the Taiwanese intra-Asia carrier enhances its coverage of Vietnam with two new services starting 2 May. Citing rising demand amid a capacity and container crunch, the increase will be US$50/TEU, effective from 7 May. Freight for 40ft containers is expected to be around US$1,000 […]
01
May
May
Amid the US-China trade war, Vietnam has benefited the most. As manufacturers shift some production from China to Vietnam, intra-Asia liner operators have been adding more calls to the Southeast Asian country. US-China trade tensions have altered the flow of goods in Asia. According to China’s General Administration of Customs, the value of Chinese exports […]
