A Singapore trade data sharing platform backed by banks, commodity houses and state firms has signed up 70 participants as part of the city-state's attempts to bolster confidence after a spate of commodity trade finance frauds in recent years…
Jordan's only container port on the Red Sea has been capturing traffic to Syria, Israel and the West Bank as higher ocean freight costs give it an edge over closer but heavily congested Mediterranean ports, its CEO said on Tuesday.Crises from…
German container shipping group Hapag-Lloyd on Thursday reported first-quarter net profit of 4.2 billion euros ($4.4 billion), more than triple the number a year ago and, forecast another strong performance for the second quarter.'The year has got off to an exceptionally strong start on the whole…
Cavotec reports it has won a shore power order valued at €15.7 million from a major global container shipping line. Deliveries are scheduled to start in the fourth quarter of 2022 and continue throughout 2023 and 2024.Cavotec is to supply its…
In contrast to spot rates on the Far East to North Europe trade which have fallen by more than USD 3,600 per FEU [Forty-Foot-Equivalent-Unit ] since the start of the year, those to the Mediterranean have seen a much smaller decline, falling by just USD 850 per FEU…
ZIM Integrated Shipping Services (NYSE: ZIM) announced today that as of mid-May 2022, the transatlantic ZIM Container Turkey service (ZCT) will become a weekly service, providing an enhanced connection between Turkey and the US East Coast.ZCT…
Container volume at Port Houston in March totaled 308,557 Twenty-Foot Equivalent Units (TEUs). That brings the total for just the first three months of 2022 to 903,383 TEUs, an increase of 20% year-to-date over last year’s record year.“Port…
Russia is bracing for a sharp decline in cargo flows and a deficit of containers after major international container shipping lines halted operations in the country due to Moscow’s military campaign in Ukraine, two Russian executives said.The world’s three largest container shipping lines…
South Carolina Ports reported an all-time container record in March, marking the 13th consecutive month of cargo records at the Port of Charleston.“As we continue to handle record volumes on our terminals, SC Ports is working alongside our maritime…
The Port of Los Angeles has completed construction of the $65 million Everport Terminal Improvement Project located at Berths 226-236 along the Los Angeles Main Channel.The project allows Everport to improve the container-handling efficiency…
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…
Singapore-based container shipping company Ocean Network Express (ONE) announced it is expanding its refrigerated container (reefer) fleet by adding another 6,500 new units (including 500 units equipped with advanced Controlled Atmosphere (CA)…
Port of Oakland import business continues to grow though export recovery has yet to take off. The port said Friday that import cargo volume increased 6.3% in February 2022 compared to February 2021. Exports declined 10.3% over the same period…
The queues of container ships outside major Chinese ports are lengthening by the day as COVID-19 outbreaks in manufacturing export hubs threaten to unleash a fresh wave of global supply chain shocks, ship owners, logistics firms and analysts say…
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…
