The U.S. government is imposing a 25% tariff on all foreign-built cars, light-duty trucks and certain auto parts. This is a significant increase from the current rate of 2.5%. The tariff will take effect starting April 3, 2025, for vehicles, while auto parts will be taxed by May 3. The new policy applies to finished
In February 2025, global schedule reliability rose to 54.9%, up 3.6 percentage points month-over-month and 1.8 points year-over-year. Maersk led the top 13 carriers with a reliability rate of 60.2%, followed by MSC at 57.4%, and Hapag-Lloyd at 57.3%. Two new carrier alliances, Gemini Cooperation and Premier Alliance, were launched in February, while the 2M
According to TMC Marine, a subsidiary of Bureau Veritas and international marine consultancy, avoiding the Red Sea has led to a significant rise in container losses. TMC’s Group CEO, Simon Burthem, reported that three major incidents off South Africa between July and August 2024 resulted in 200 containers being lost overboard. Extreme weather has been
During a seminar held in Singapore hosted by the Association of Maritime International Commercial Interests & Expertise (AMICIE), panelists discussed the challenges of navigating geopolitical risks in international trade and shipping. SeaLead Singapore’s Chief Operations Officer, Chow Kitwei, was asked about the potential impact of the United States Trade Representative’s (USTR) proposal to levy tariffs
Seven regional carriers based in Asia have teamed up to introduce a new weekly express service between Asia and Mexico, adding at least 15,000 TEUs of capacity to the growing trade. In the first nine months of 2024, trade volumes between the two regions soared by 18.9% year-over-year. The first starts on April 30 from
[Port of Spain, Trinidad and Tobago] – Shipco Transport, one of the world’s leading neutral NVOCCs, is celebrating five years of operations in Trinidad and Tobago. The branch office has established a strong local presence through delivering customer-centric freight solutions, leveraging the organization’s robust global network, and applying deep industry expertise alongside comprehensive local market knowledge.
The U.S. Federal Maritime Commission (FMC) is investigating global shipping chokepoints, examining whether foreign laws, regulations, or practices are disrupting U.S. trade. The international shipping lanes under review are the English Channel, the Malacca Strait, the Northern Sea Passage, the Singapore Strait, the Panama Canal, the Strait of Gibraltar, and the Suez Canal. The FMC
Airfreight demand and rates have stabilized after recent volatility caused by the Lunar New Year and tariff concerns. According to data from analyst WorldACD, global air cargo demand has remained unchanged week-over-week but is up 2% compared to the previous year. In early March, the average worldwide airfreight rates for both spot and contract shipments
The Global Tracker Report from the National Retail Federation (NRF) and Hackett Associates indicates that U.S. container imports will likely remain strong through spring but may record a year-over-year decline in the summer. Retailers are frontloading goods due to concerns about new tariffs on Chinese imports, which have already doubled from 10% to 20%, with
[Kingston, Jamaica] – Shipco Transport, one of the world’s leading neutral NVOCCs, is excited to announce the five-year anniversary of its office in Kingston, Jamaica, in January 2025. Since its inception, the branch has focused on a single objective: to set a new standard for customer service and operational excellence in the shipping industry while maintaining
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