A.P. Moller - Maersk is about to launch the first of its 18 large methanol-enabled vessels currently on order. On February 9, 2024, it will enter service on the AE7 string connecting Asia and Europe, which includes port calls in Shanghai, Tanjung Pelepas…
'So far this year, container volumes have fallen nearly 2% year-on-year while average freight rates have declined, reaching 2019 levels in September. Since then, they have continued to fall. However, the cost to charter a ship remains 25% higher than in 2019…
Cosmos Van Oord, a joint venture (JV) of Cosmos Shipping and Van Oord, has been awarded a dredging project at Port of Burgas, the biggest port in Bulgaria.The project is part of the construction of a new deep-water berth at terminal Burgas-West in the Port of Burgas…
Latest data from Xeneta suggests 2024 could be even more brutal than expected for carriers in the ocean freight shipping market, as the Xeneta Shipping Index (XSI), which tracks real-time developments in global long-term contracted rates, today stands at 158…
Ocean Network Express (ONE) has announced a new West India North America (WIN) service which connects India’s west coast and the US east coast. India has been playing an increasingly important role in world trade, with an export volume of approximately…
Israel-based container shipping company ZIM Integrated Shipping Services has reaffirmed its continued commitment to serve the East Mediterranean and Israeli ports.The message comes after incidents in the Red Sea where militant groups have indicated the desire to disrupt Israeli shipping movements…
South Pacific International Container Terminal (SPICT) and Motukea International Terminal, International Container Terminal Services, Inc.’s (ICTSI) operations in the ports of Lae and Motukea respectively, established a record as they welcomed…
Orient Overseas Container Line (OOCL) has reported that there is a suspicious investment software in the market that is using the OOCL logo without authorization.The software claims to offer high returns on investments. However, OOCL has no…
The Australian government on Sunday described as 'serious and ongoing' a cybersecurity incident that forced ports operator DP World Australia to suspend operations at ports in several states since Friday.DP World Australia, which manages nearly half of the goods that flow in and out of the country…
BIMCO’s Chief Shipping Analyst, Niels Rasmussen, has revealed that Greek and Chinese shipping companies now own 34% of the global fleet’s cargo capacity, with Greek owners leading on cargo capacity.“The global fleet of cargo carrying ships consists of around 61…
Ocean Network Express (ONE) has obtained regulatory approval and completed its acquisition of a 51% stake in each of TraPac LLC and Yusen Terminals LLC (YTI), and a 20% stake in Rotterdam World Gateway (RWG).TraPac and YTI are container terminal…
Global container ship fleet is showing its age, reaching highest average age on record of 14.2 years.“Container ships have reached their highest average age yet at 14.2 years, the highest average age of the three main shipping sectors. The dry bulk fleet has an average age of 11…
Inditex, parent company of fashion brands such as Zara and Massimo Dutti, has partnered with Maersk to reduce its global GHG footprint from seaborne logistics by incorporating alternative fuels in all its inbound routes with the carrier.Through the ECO Delivery Ocean program…
The backlog of ships is growing at Israeli ports while operations continue at most terminals amid preparations by the military to launch a ground assault in the Hamas-controlled Gaza Strip, according to data and sources.Israel has vowed to annihilate…
The CMA CGM Group has unveiled the investment and business strategy for its recently acquired Global Container Terminals (GCT) in Bayonne and New York ports as part of the Group's U.S. expansion plan.Effective immediately, the terminals will…
