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…
Governor Tom Wolf announced that Pennsylvania’s Intermodal Cargo Growth Incentive Program (PICGIP), which aims to increase cargo activity by incentivizing shippers to move cargo through Pennsylvania ports, will be extended until July 2023. The…
Shipping group CMA CGM is set to buy auto transport company Gefco, French paper Les Echos reported on Friday, citing sources close to the matter.CMA CGM declined to comment.Gefco, in which French-Italian carmaker Stellantis holds a 25% stake…
Israeli shipping company ZIM Integrated Shipping Services (NYSE: ZIM) on Wednesday announced a new charter transaction with a group of investors initiated by MPC Capital AG, according to which ZIM will charter a total of up to six 5,500 TEU…
Russia is set to resume supplies of liquefied petroleum gas (LPG) from a Sea of Azov port on Tuesday for the first time since Moscow started its military operation in Ukraine, data from the port and Refinitiv Eikon showed.Supplies of LPG had been halted from the Temryuk terminal since Feb…
MacGregor, part of Cargotec, was selected to supply comprehensive packages of RoRo equipment for four Aurora class pure car and truck carriers (PCTCs) to be built by China Merchant Heavy Industries (Jiangsu) Co., Ltd. for Höegh Autoliners.The order has a value of more than $15 million…
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…
The White House on Tuesday unveiled a new pilot effort to help clear supply chain bottlenecks at congested U.S. ports by getting truckers, shippers, wholesalers, retailers and other businesses to share information.U.S. Transportation Secretary…
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…
Sixty-five years after Aristotle Onassis founded Greece's Olympic Airways, another shipping entrepreneur is planning to take to the skies - this time in Italy, where Gianluigi Aponte's MSC has its sights on the successor company to Alitalia…
dship Carriers took delivery of number four of four newbuilds, the MV Charlie, the latest generation eco-friendly F-500 vessel type. The quartet of new ships enhances dship's capabilities in the multi-purpose heavy lift market during a time when cargo slots are rare and the market is tight…
As the tanker market languishes and the containershipping sector drives full speed ahead, Concordia Maritime announced it has embarked on a technical design study on the feasibility of converting several of its tankers to container carriers…
Efforts to speed up the movement of goods around the world have yet to solve the supply chain bottlenecks caused by surging demand for retail goods and pandemic-related lockdowns, the latest shipping data shows.Delays at U.S. major ports have been particularly severe…
Freight tech firm Loadsmart Inc said on Tuesday it was valued at $1.3 billion in its latest funding round, led by SoftBank Latin America Fund and funds managed by BlackRock Inc.The company raised $200 million in the Series D funding round from…
