“An inventor is simply a fellow who doesn’t take his education too seriously.” –Charles KetteringJust for fun, try asking a friend a few questions. Who developed the telephone? Chances are that your friend will reply, Alexander Graham Bell…
Average container prices have declined by more than half from the last year in August as China picks up containerized trade volumes more recently, according to an analysis published by Container xChange.Trade in China was impacted in the first half of the year…
While there are many layers to the continued container shipping supply chain woes, and the U.S. Federal Maritime Commission has set its sites on the nuisance of empty containers clogging traffic, on the heals of FMC Chairman Maffei's visit to the Port Authority of New York/New Jersey…
Despite another slew of rises in long-term contracted ocean freight rates across key global trade corridors, month-on-month growth is slowing - and spot rates continue to weaken – suggesting prices may have peaked. However, according to the latest Xeneta Shipping Index (XSI)…
Nippon Yusen Kabushiki Kaisha has upgraded its financial outlook for the fiscal year ending March 2023, projecting higher revenue and operating profits across the board in light of changing market conditions across multiple sectors it serves…
While spot rates head in the right direction for ocean freight from the Far East to the South America East coast, short-term air freight rates are failing to take off on major intra-Asian and long haul trades, according to Xeneta.“Certainly…
Supply chain management and logistics solutions firm DB Schenker plans to build a fully-electric, zero-emission, un-crewed coastal container feeder to serve the route between Ikornnes quay and the Port of Ålesund in Norway. DB Schenker, and its cooperation partners…
Shipping group Maersk will temporarily halt all container shipping to and from Russia in response to Western sanctions on Moscow following its invasion of Ukraine, the company said on Tuesday.The move follows similar decisions by Singapore-headquartered Ocean Network Express (ONE)…
Shipping group Maersk expects 2022 earnings to be around as high as last year, it said on Wednesday, as the supply chain disruption that sent freight rates soaring extends into the first half.It expects underlying earnings before interest, tax…
Long-term contracted ocean freight rates fell 3.6% in January, according to the latest Xeneta Shipping Index (XSI) Public Indices, the second consecutive monthly rates decline following 14 straight months of increases. Despite the recent stumble…
Swiss-based container group MSC has overtaken Denmark's Maersk as the world's biggest shipper, the company said, confirming data from intelligence provider Alphaliner.After taking delivery of several ships last year, MSC or Mediterranean Shipping Company has capacity to move the equivalent of 4…
Container shipping giant Maersk on Wednesday agreed to buy Hong Kong-based LF Logistics for $3.6 billion in an all-cash deal, as it seeks to expand beyond its core ocean freight business.The deal is one of the group's largest takeovers to date…
Speaking as President of the California Association of Port Authorities (CAPA), Port of Oakland Executive Director Danny Wan requested state help this week to ease a U.S. supply chain crisis. He called for increased collaboration and solutions…
Global supply chain disruption is changing cargo flows coming into Britain and smaller ports such as Liverpool are benefiting as suppliers look for other ways to route cargoes and minimize disruptions, Liverpool port's operator said.Major bottlenecks…
Shipping group A.P. Moller-Maersk said on Tuesday record-high freight rates boosted quarterly earnings despite lower container volumes due to congestion at ports.The coronavirus pandemic has prompted a shortage of container ships and logjams at ports at a time of high consumer spending…