Efforts by Evergreen, the operator of Ever Given, to have the vessel’s cargo separated from the ship in any legal action have failed. Evergreen had hoped to move the cargo to other vessels to allow it to continue to its destination. The Ever Given was arrested by...
The knock-on effects of the blockage of the Suez Canal are likely to impact North Europe supply chains until June. Container lines have discharged Asian imports wherever they can to turn ships around in North Europe as quickly as possible and return vessels to Asia. Moreover, the...
Before the grounding of the massive Ever Given container ship in the Suez Canal, some 50 vessels a day, or about 10% of global trade, sailed through the waterway each day — everything from consumer electronics to food, chemicals, ore and petroleum....
The Suez Canal Authority said in a statement Thursday that it had officially suspended traffic while efforts to dislodge the 1,300-foot Ever Given, stuck crossways in the canal, continued, raising the possibility of major new disruptions to global commerce just as supply chains have begun...
Constrained space, a rise in vaccine shipments around the world, and already buoyant demand in the air cargo sector for other commodities are likely to hold air freight prices at their current buoyant levels for some time....
During Lunar New Year, bookings came down as some companies were still closed, but, according to Hapag-Lloyd CEO Rolf Habben Jansen, trucking capacity was higher than normal for the time. Jansen told reporters last week, speaking about the seasonal decline encountered as a result of...
Container spot rates spiked first. Next in line: annual contract rates...
Due to unusually long delays on vessels caused by congestion in Asian and North American ports, major global container lines are being forced to cancel large numbers of east-west services. This week, Hapag-Lloyd told customers that it was forced to introduce "a comprehensive schedule recovery plan...
A global shortage of shipping containers that’s sent ocean freight rates skyrocketing shows signs of easing, according to an index that tracks the steel boxes used to transport 90% of the global trade in goods....
The latest figures show that in December, average rollover levels at key ports increased to 37 percent. The number reflects a market affected by a 30 percent decline in demand for container shipping in Europe and the United States at the start of the pandemic,...
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