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Incoterms 2020 rules are the latest revision of international trade terms published by the International Chamber of Commerce (ICC). They are recognized as the authoritative text for determining how costs and risks are allocated to the parties conducting international transactions. Incoterms 2020 rules outline whether the seller or the buyer is responsible for, and must assume the […]
01
Apr
Apr
The Saudi Ports Authority (Mawani) will extend the services of Jeddah Islamic Port for ship transfers and container offloading to support shipping lines stranded at the south end of the Suez Canal on the Red Sea coast. Mawani’s initiative is aimed at assisting the shipping logistics industry to manage the unexpected situation in the Suez […]
01
Apr
Apr
A group of senior industry figures have analysed the post-Ever Given Suez Canal grounding in a critical reflection of the handling of disrupted supply chains by the industry and they concluded that data-sharing and significant digital collaboration through ports, acting as co-ordinators, can manage supply chain disruptions, benefitting all the stakeholders. Critical incidents such as […]
01
Apr
Apr
The Suez Canal blockage has delayed vessel traffic to European ports during the week, while European bunker hubs continue to have readily available supplies of low sulphur fuels, according to Marine Bunker Exchange (MABUX). Some East Mediterranean ports have seen stems delayed and cancelled, including Limassol in Cyprus. At the same time, suppliers were able […]
28
Mar
Mar
With the US election finalised and Biden now in office, VesselsValue’s AIS & Trade Manager Charlotte Cook – analyses trade data for the container sector and the impact that his appointment is expected to have on US Container demand. Biden’s win came at a time when container ship rates were, and continue to be, sky […]
28
Mar
Mar
Tugs and dredgers surrounding the Ever Given are working towards a major attempt to free the vessel later today as the tide rises. Salvage teams from the Suez Canal Authority (SCA) have said that they have successfully moved the bow of the stricken ship five metres as the tide rises, but the best chance for […]
27
Mar
Mar
Taking digitalisation one step at a time will offer a resilient, safe and sustainable maritime ecosystem for all those involved in the supply chain argue Mikael Lind, Richard T. Watson, andWolfgang Lehmacher. Achievement of an efficient, resilient, safe, and sustainable maritime ecosystem is a multi-year, multi-stage project that requires a sequence of interlocking actions. Attainment […]
27
Mar
Mar
Hopes of re-floating the stranded 20,388TEU Ever Given following this weekend increased when salvage teams using Suez Canal tugs reportedly succeeded in freeing the stern and rudder section of the vessel. Suez Canal tugs are assisting in trying to complete the re-floatation, which will be further assisted by the high tides on Sunday and Monday, […]
26
Mar
Mar
Taiwan carrier Yang Ming rode the crest of a wave of new e-commerce business as consumers reached for e-commerce solutions to the restrictions imposed by the spread of Covid-19, boosting the line’s income as a consequence. The container shipping market’s dramatic swing into the black in the last months of 2020 boosted Yang Ming results […]
26
Mar
Mar
The Vietnamese government has joined its counterparts in China, Taiwan, the US and South Korea, by intervening to cool the overheated container shipping market. Vietnam’s Ministry of Industry and Trade (MOIT) has informed 12 liner operators, including Maersk Line and HMM, that they are required to report data about empty containers and shipping routes between Vietnam, Europe and […]
