South American spot rate gap set to narrow as shippers take advantage of lower Far East to West Coast ratesThe latest ocean freight rate data from Xeneta reveals that spot rates are currently $3,700 more expensive for shipping 40-ft. containers from the Far East to the South American East Coast…
Ten trade organizations representing the owners and forwarders of cargo, port terminal operators and other parts of the supply chain dependent on container shipping are demanding an immediate review of European Union’s Consortia Block Exemption Regulation for the container shipping industry…
It’s been another bumper month for long-term contracted ocean freight rates, as the cost of securing container shipments climbed by 10.1% in June. Following on the heels of a record 30.1% hike in May, this now means rates stand 169.8% higher than this time last year…
Kongsberg Digital and MSC has signed a contract for digitalizing MSC’s entire fleet consisting of approximately 500 vessels with Vessel Insight.“This is a very important contract for MSC as making our fleet more sustainable is one of our top priorities…
The Federal Maritime Commission approved a settlement agreement reached between its Bureau of Enforcement (BoE) and Hapag-Lloyd AG (Hapag-Lloyd) where the ocean carrier will pay a $2 million civil penalty to address alleged violations related to their detention and demurrage practices…
According to the latest crowd-sourced data from Xeneta, long-term rates for reefer containers on the key US West Coast to Far East route soared almost 60% in April.In its report Xeneta notes a surge in rates of around $2000 per 40-ft. unit after the latest 12-month contracts came to a close…
According to a recent analysis by Container xChange, one of the many challenges for the supply chain now is the overflowing container depots in the U.S. and the pileup of empties that will push the container prices further downwards in the mid-term…
Despite months of softening on the backhaul North Europe to Far East trade, with rates on the spot market closing in on $1,000 per FEU for normal-dry containers, spot rates for reefer containers on this trade have been stable since early 2021…
Xeneta, a leader in ocean and air freight rate benchmarking, market analytics platform and container shipping index, announced the appointment of two new sales executives. Scott Irvine joins Xeneta as VP of Freight Forwarding and Laura Finbow will serve as Director of Sales Enablement…
The Far East to South American East Coast trade is the only front haul trade where the long term is lower than the average spot rate among Xeneta's top 13 trades. Long-term rates on this trade are still below their October highs, but they have been steadily rising since 2022…
Net Income of $4.65 Billion, Adjusted EBITDA of $6.60 billion, and Adjusted EBIT of $5.82 billionAs the containershipping industry enjoys its greatest boom of a generation, ZIM Integrated Shipping Services Ltd. (NYSE: ZIM) announced its consolidated…
Russia's war in the Ukraine and spiraling oil and marine fuel prices have conspired to drive the VCFI indes to its first loss in 18 months.Change of trend in the indicators that measure the evolution of container transport costs. Valencia Containerized Freight Index (VCFI) fell by 0…
The following is a recap of the containershipping logistics challenges for the the Black Sea, Ukraine and Russia from Christian Roeloffs, co-founder and CEO, Container xChangeParts of the Black Sea and Sea of Azov are now dangerous or unpassable…
When the global supply chain runs smoothly, it’s like a well-choreographed dance. Everything comes together elegantly and effortlessly. But when someone misses a step, the show can quickly turn into a disaster. And that’s what’s currently unfolding before our eyes…
Ocean freight costs are likely to remain high in 2022 as investors and regulators scramble to accelerate decarbonization of the shipping industry and companies grapple with green financing, sources say.Shipping, which transports about 90% of…
