Higher prices for containers used by merchant ships caused by attacks on Red Sea shipping are likely to fall back in three to nine months to levels seen in early December due to market overcapacity, the head of an online container logistics platform said on Wednesday…
Exporters are scrambling to find ways to get key consumer goods to buyers including by air as a wave of attacks in the Red Sea adds to ocean freight supply chain problems elsewhere.Iran-backed Houthi militants in Yemen have stepped up attacks on vessels in the Red Sea since Nov…
Several shipping companies and a few liquefied natural gas (LNG) tankers have decided to avoid the world's main East-West trade route, following attacks launched by Yemen's Houthi group on commercial ships at the southern end of the Red Sea…
Oil is flooding out of Texas in the final weeks of 2023, as traders find outlets abroad for record U.S. production and dodge a hefty year-end tax bill on their inventories.U.S. crude exports, nearly all of which leave from the U.S. Gulf coast…
“Congestion for ships loading grain cargoes at Brazilian ports has surged this year due to large harvests and low water levels in the Amazon River. Between January and November, the average waiting time reached 15 days, up from nine days average…
As low water level continue to plaque the Panama Canal, shipowners and managers are paying the price in the form of longer hauls and higher fuel (and emissions) costs to deliver product to market.In one example, oil tanker Cururo is taking the…
Inbound cargo volume at the United States’ major container ports should continue to slow in the final weeks of 2023 after reaching its peak later than expected this fall, according to the Global Port Tracker report recently released by the National Retail Federation and Hackett Associates…
Calling bottlenecks at the Panama Canal chokepoint a ‘slow burning disaster’, with one vessel operator reportedly paying nearly $4 million to ‘jump the line’, Peter Sand, Chief Analyst, Xeneta, examines the key market trends that will drive the container shipping sector in 2024.
U.S. officials have begun informal talks to prepare for new negotiations on the North American Free Trade Agreement (NAFTA), David Cohen, the country's ambassador to Canada, told CBC News in an interview published Saturday.'On the U.S. side…
Bulk grain shippers hauling crops from the U.S. Gulf Coast export hub to Asia are sailing longer routes and paying higher freight costs to avoid vessel congestion and record-high transit fees in the drought-hit Panama Canal, traders and analysts said…
The number of U.S. liquefied natural gas (LNG) vessels transiting the Panama Canal to Asia halved in November compared with a year ago as Asia prices for the gas this week traded at their steepest premium to European prices in nearly two years…
Shipments of iron ore on the Great Lakes totaled 4.5 million tons in November, an increase of 1.5 percent from 2022. Shipments were below the month’s 5-year average by 1.7 percent.Year-to-date the iron ore trade stands at 46.3 million tons, an increase of 20…
Monique Hezel-Reyntjens will retire effective December 31, 2023, having worked in and led what is now known as BeKa HGK GmbH for almost 42 years. Her parents, Franz Josef and Corrie Becker founded the dry shipping company in 1982. Monique Hezel…
Speaking after the November 30 OPEC+ meeting, Ann-Louise Hittle, vice president, Macro Oils, at Wood Mackenzie, said: “The decision by OPEC+ to continue with its previously announced production cuts and Saudi/Russia to extend their voluntary production cuts to the end of Q1 2024 is not a surprise…
Russia's Novorossiisk port resumed oil loadings after a severe storm on Thursday, two sources familiar with the port's operations told Reuters.The loadings started as the weather conditions improved after the storm had suspended exports since last week…
