Maritime

  • Container Shipping Prices Skyrocket as Rush to Move Goods Picks Up


    Jul 6, 2021 — Prices to ship containers from Asia to the U.S. and Europe are rising at a historic pace as cargo owners bid up rates in a search for ocean transportation capacity that shipping industry executives expect to remain tight for the rest of the year. The average price world-wide to ship a 40-foot container has more than quadrupled from a year ago, to $8,399 as of July 1.
  • Hapag-Lloyd Orders Another Six Ultra Large Container Vessels of 23,500+ TEU


    Jun 30, 2021 — Hapag-Lloyd has commissioned the South Korean shipyard Daewoo Shipbuilding & Marine Engineering to build six ships, each with a capacity of over 23,500 TEU. The container liner shipping company had already placed an order for six ships of the same size at the end of 2020. Thus, the fleet will be expanded by a dozen 23,500+ TEU ships in total.
  • 'Crazy rates' to ship a container out of India – after a 100% premium to get the box


    Jun 29, 2021 — With the severe shortage of containers and capacity, Indian forwarders are being quoted “crazy” freight rates by carriers that “won’t honour” contracts. “A 40ft container to the US before Covid cost $2,000, now it is between $6,200 and $6,500,” Federation of Indian Export Organisations said.
  • Congress discusses forcing liners to accept US export container bookings


    Jun 16, 2021 — American politicians are discussing taking drastic action to force global liners to take all US export container bookings. A Republican and a Democrat have pitched the idea to the US House Transportation & Infrastructure Committee, claiming yesterday American exporters are being discriminated by carriers who are rushing to send their empty boxes back to Asia rather than wait for American exporters – led by the agricultural community – to fill them up.
  • Panama Canal to allow larger vessels to transit


    Jun 16, 2021 — The Panama Canal has increased the maximum allowable length for commercial and non-commercial vessels transiting the neopanamax locks to 370.33 m, up from 367.28 m. The increase means that 96.8% of the world’s fleet of containerships can now transit the canal.
  • Container shortage worsens as box ships avoid Chinese ports that need empties


    Jun 10, 2021 — The availability of containers at southern Chinese ports continues to deteriorate as carriers omit calls due to a wave of Covid outbreaks in Guangzhou province. According to the latest data from Container xChange, the ports of Yantian, Shekou and Nansha have been hit worst by the box shortages.
  • Yantian congestion pushes box spot rates to new highs, ceiling still not in sight


    Jun 4, 2021 — Hobbled by growing congestion at Chinese export gateway Yantian and key receiving terminals such as Oakland and Hamburg, the Shanghai Containerized Freight Index shot up by another 3.3% today to hit new records. The box spot index operated by the Shanghai Shipping Exchange climbed 117 points to close the week on 3,613 points, up 157% year-on-year.
  • HMM adds its fifth extra loader to US east coast


    Jun 1, 2021 — South Korean flagship liner operator HMM has substituted the 1,800 teu multi-purpose vessel HMM Dubai, normally used to carry heavylift & project cargo, to offer an extra loader service to the US. This was one of 25 extra loader services from HMM since August 2020: 14 to Los Angeles, five to the US east coast, three to Russia, two to Europe and one to Vietnam.
  • Federal Maritime Commission (FMC) Seeking Input on Detention and Demurrage Charges


    Jan 12, 2021
  • Federal Maritime Commission (FMC) Moves Forward, Announces Investigation of Port-Based Detention and Demurrage Charges


    Nov 23, 2020 — FMC approved a Supplemental Order that expands the authority of Fact Finding 29, “International Ocean Transportation Supply Chain Engagement”. Commissioner Dye will lead the FMC's efforts into further investigation of ocean carriers operating in alliances, focusing on the Ports of Long Beach, Los Angeles and the Port Authority of New York and New Jersey. Specifically, the Commission will review policies and practices related to detention and demurrage, container return and container availability.