Category: Newsletters

The intra-Asia shipping market is experiencing a vessel shortage with smaller container ships being reassigned to more profitable long-haul routes. Consequently, it has increased freight rates significantly. Data from the Shanghai Containerized Freight Index shows that Shanghai-Southeast Asia rates have increased from $756 per TEU on July 12. According to the Korea Ocean Business Corp’s

Meteorologists say climate patterns associated with La Niña could come about as early as next month. This will affect global shipping and trade patterns into early 2025. Forecasts predict a 70% chance it will start between August and October, with a 79% probability to last into early 2025. La Niña is characterized by the cooling

According to Linerlytica, freight rates may have peaked and are leveling off. The company said new shipping capacity into the U.S. West Coast, North Europe, South America, and the Middle East has reduced pressures on these routes. Meanwhile, Linerlytica projects freight rates will stay high until the peak season ends in September. According to Linerlytica,

Independent container shipping services are gaining more market share on major East-West routes. Over the next three months, about a third of Trans-Pacific trade services offered will be outside of vessel-sharing agreements (VSAs), Sea-Intelligence said. Alan Murphy, Sea-Intelligence’s CEO, said that on the Asia-North America West Coast trade lane, nearly 30% of shipping capacity will

Adding UK port stops on Asia-Europe trade routes might help shipping lines avoid high EU carbon taxes. Lars Jensen, CEO at Vespucci Maritime, noted that adding the UK as a port of call before or after entering the European Union (EU) has carriers paying less ETS carbon tax. Under the Emissions Trading System (ETS) rules,

Independent container shipping services are gaining more market share on major East-West routes. Over the next three months, about a third of Trans-Pacific trade services offered will be outside of vessel-sharing agreements (VSAs), Sea-Intelligence said. Alan Murphy, Sea-Intelligence’s CEO, said that on the Asia-North America West Coast trade lane, nearly 30% of shipping capacity will

Shippers worried about not being able to secure capacity for the upcoming peak season are rushing to book space and equipment on the Trans-Pacific container market. Container spot rates from Asia to the U.S. West and East coasts have steadily increased since April. Year-over-year, U.S. imports from Asia are up 18.2% through May 2024, according

With freight costs rising due to supply chain volatility, managing freight spend is a key concern for shippers and forwarders, according to a Xeneta poll. In the company’s mid-year update, CEO Patrik Berglund described the volatility in 2024, pointing out an initial spike in spot rates on key Far East trades at the beginning of

Water levels at the Panama Canal are close to normal, allowing more large ships to pass through and carry more cargo. Starting in August, the Panama Canal Authority (ACP) will let nine neo-Panamax ships and nineteen super-Panamax ships transit daily. The canal will be handling 35 ships per day, up from 24 in May. The

According to the United Nations Conference on Trade and Development’s (UNCTAD) July trade update, global trade rose in Q1 2024 with goods up by 1% and services by 1.5%. This increase could add $200 billion to the goods trade and $100 billion to the services trade. The world economy is expected to grow 3% in