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
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
Global container freight demand has not shown signs of improvement and continues to drive a downward trend in rates, according to market indices. Drewry’s composite World Container Index (WCI) for March 6, 2025, decreased -3% per 40ft container, led by a -9% decline in the Pacific trade rates. This marks the lowest level observed since
Speaking at TPM25, liner analyst and CEO of Vespucci Maritime, Lars Jensen, asserted that the container market is unaffected despite declines in spot rates on the main East-West routes. “I really don’t think the market is that weak – demand remains strong, and the number of boxes being moved globally is still very high,” he
The U.S. has imposed tariffs of 25% on all goods from Mexico and Canada starting March 4, 2025. The measure comes following a one-month delay during which negotiations with the two countries took place. Additionally, duties on Chinese goods have also doubled, increasing from 10% to 20% Canada immediately implemented a 25% tariff on U.S. imports worth
Panelists at the Journal of Commerce’s TPM25 conference indicated that the container market is facing a downturn in 2025, warning that it could be worse than previous declines. Parash Jain, the global head of Transport and Logistics Research at HSBC, stated that the market’s decline is already underway and identified several key variables driving this
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