According to Xeneta’s Shipping Index (XSI), global long-term shipping rates sank to a two-year low in July, falling 9.5% since June, plummetting 57.8% since the same period in 2022. And just as rates hit a fresh low, the bad news for carriers…
Maersk and Hong Lam Marine have conducted the world’s first ship-to-container ship methanol bunkering operation of a Maersk’s container vessel at the Raffles Reserved Anchorage in Singapore.This was also Singapore’s first methanol bunkering…
In preparation for the launch of SACP 3.0, the North Carolina State Ports Authority (NC Ports) has welcomed the arrival of Consolidated Chassis Management’s (CCM) new build container chassis.Scheduled to begin in October, SACP 3.0, the next…
The Unified Container Inspection & Repair Criteria (UCIRC) has now been revised to include inspection criteria for container depots and other container handover facilities to address pest contamination on and in containers. The first edition of the UCIRC…
Ocean Network Express (ONE) has announced a new weekly service: Latin-East-Coast Europe Express (LUX) connecting Europe and the Mediterranean to the East Coast of South America.The LUX represents ONE’s first dedicated service connecting Europe…
Volvo Cars has announced that it is switching delivery of its production material to container ships using renewable biofuel.The company will use renewable fuel for inbound ocean container transport of production material destined for manufacturing plants based in Europe and the Americas…
With the peak ocean freight cargo season approaching, the latest data from Oslo-based Xeneta shows mixed fortunes, and outlooks, for the two main Far East to Europe trade corridors.Xeneta’s analysis reveals that shippers opting for the Far East…
Newport Shipping and NSB Group announced a plan to work together to develop their ship widening proposition for its customers. The NSB Group design will increase container capacity by up to 30% by implementing its unique widening concept, according…
Ocean Network Express (ONE) plans to install telematic devices on its reefer box fleet to provide customers with more comprehensive visibility of their cargo.The telematic devices will provide ONE with active monitoring data about temperature…
Hyundai Merchant Marine (HMM) has announced that its exclusive service connecting Far East, India and Latin America (FIL) made a maiden call in Tanjung Priok, Jakarta, on June 8.The FIL service was launched in December 2021, and the port of Jakarta…
The ocean freight industry saw a slump in global long-term rates of unprecedented proportions in May, as the contracted cost of shipping containers fell by 27.5%. The development, detailed by Xeneta’s Shipping Index (XSI), marks the ninth consecutive month of rates drops…
International Container Terminal Services, Inc. (ICTSI) has commenced construction of another berth at its flagship, the Manila International Container Terminal (MICT).To be built in phases, Berth 8 will add to the MICT’s capability to service foreign ultra container vessels of up to 18…
ZIM Integrated Shipping Services Ltd. (NYSE: ZIM) announced its consolidated results for the three months ended March 31, 2023.Net loss for the first quarter was $58 million (compared to net income of $1,711 million in the first quarter of 2022)…
Port Houston has jumped from No. 7 to No. 5 in the Journal of Commerce’s ranking of top US container ports in terms of TEUs handled in 2022.Overall tonnage is up 4% through March compared to last year collectively for all of our terminals. “Our…
Bed Bath & Beyond Inc. has filed a complaint against Orient Overseas Container Line Limited and OOCL (Europe) Limited with the US Federal Maritime Commission (FMC).The company is seeking reparations for injuries it alleges resulted from the…
