Global trade bottlenecks are more the result of demand spikes than supply chain snags, with pressure likely to ease in the coming months, the World Trade Organization's chief economist said on Monday.The WTO had thought in October that demand for goods would slow early in 2022…
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…
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…
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…
Congestion off China's top two container ports Shanghai and Ningbo is worsening following the shutdown of a container terminal in Ningbo where a COVID-19 case was detected this week.Tighter restrictions to fight China's latest coronavirus outbreak are starting to hit more parts of the economy…
Predictive intelligence tech company Windward has launched Container Insights, a capability that provides live screening and tracking of containers and Bill of Lading (BOL) verification.The new capability, which Windward says enhances the company’s current Cargo Insights…
Iceland-based shipping and logistics firm Eimskip has appointed María Björk Einarsdóttir as CFO, to take over from Egill Örn Petersen, who has decided to resign due to personal reasons. Egill Örn Petersen, who has been the CFO of Eimskip since the beginning of 2019…
The surge in U.S. container imports continued in April when West Coast loaded imports amounted to 1.10m TEU. Imports had never exceeded this level until August 2020, and developments in the past nine months mean that April imports are only the sixth highest on record…
With historically high freight rates, fleet utilization and demand, there is no end in sight for the red-hot containership market.Container shipping giant Hapag-Lloyd CEO Rolf Habben Jansen candidly said “nobody saw this coming” as “we’ve seen a spending shift from services to goods”…
Taiwan's government has urged shipping companies not to unfairly push up their prices amid a global squeeze on shipping containers and a shortage of space on cargo ships, the transport ministry said on Friday.Trade-dependent Taiwan, a tech powerhouse…
China's world-beating economic rebound from the coronavirus pandemic is being blunted by a global shortage of shipping containers, sending cargo costs to record highs and hampering manufacturers in filling fast-recovering global goods orders…
Handling of steel boxes throughout the shipping, ports and logistics supply chain has historically grown exponentially, putting strains on a range of operational procedures and the physical hardware employed to handle the steel boxes, particularly onboard ships…
Seaspan Ship Management selected Alfa Laval to help resolve steam balance and redundancy issues connected to sulfur-compliant fuels. The solution – an integrated steam boiler plant comprising oil-fired steam production, waste heat recovery,…
Mackay Marine announced the opening of its newest marine electronics service center, in Fujairah, U.A.E., located on the east coast of the Gulf of Oman.Mackay Marine–UAE provides Comm & Nav electronics sales and service to vessels in ports throughout the U…
During these unprecedented times, the International Transport Intermediaries Club (ITIC) recommends that brokers should consider stressing the current unusual market conditions in their ship valuation certificates.Following the financial crisis of 2008…
