CMA CGM UNVEILS NEW-LOOK BOXSHIP From yards in Asia, new look containerships are emerging from drydocks as the sector ushers in a greener era, spending billions of dollars on a next generation of vessels. An eye-catching new delivery came out of South Korea’s Hyundai Heavy Industries (HHI) this week, the 2,000 teu LNG dual-fuel CMA CGM Mermaid (pictured), the first in a …
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ANGELA CHAO, CEO OF GLOBAL SHIPPING FIRM FOREMOST GROUP, DEAD AT 50 Angela Chao, the CEO of New York-based shipping company Foremost Group, has died in a car accident at the age of 50, according to a news release. The Foremost Group is a global dry bulk shipping company whose clients include Cargill Inc., Louis …
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Houthis Target Two More Merchant Ships with New Attacks The Houthi militants targeted both a British and an American ship overnight as they vowed to continue their attacks. This came just a day after the UK’s Defense Secretary Grant Shapps said the UK believed the militants still had “an appetite” to continue targeting ships despite …
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RED SEA-DRIVEN SURGE IN CONTAINER SHIPPING RATES LOSES MOMENTUM Mass diversions of container ships around Africa’s Cape of Good Hope caused spot rates to surge, but the Red Sea effect has a limit, which may have already been reached. Upward momentum has slackened. Rates in most lanes have leveled off. Several indexes for European lanes …
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PORT OF NEW ORLEANS GETS $226M FOR INTERNATIONAL CONTAINER TERMINAL Efforts to build an international container terminal at the Port of New Orleans capable of handling ultra large container vessels got a boost Monday from the federal government. The port announced it was awarded an additional $226.2 million grant to assist in constructing the $1.8 …
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CONTAINER SHIPPING RATES SPIKE AS RED SEA CRISIS DRAWS FIRST BLOOD For cargo importers, the outlook is now clear: higher freight costs and longer delays. For liner profits, sentiment is increasingly bullish — but there are uncertainties. Spot rates and surcharges are rising fast, but liner costs are also increasing due to much higher fuel …
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Container shipping outlook 2024: Rising risk of delays, disruptions The supply chain crisis is long over, but America’s importers still have a lot to keep them up at night as they plan for 2024. Two key container shipping “chokepoints” — the Panama Canal and the Bab-el-Mandeb Strait in the Red Sea — are simultaneously under …
by adminCONTAINER SHIPPING OUTLOOK 2024: RISING RISK OF DELAYS, DISRUPTIONS The supply chain crisis is long over, but America’s importers still have a lot to keep them up at night as they plan for 2024. Two key container shipping “chokepoints” — the Panama Canal and the Bab-el-Mandeb Strait in the Red Sea — are simultaneously under …
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ONE READIES INDIA-US EAST COAST SERVICE AS PART OF 2024 NETWORK ROLLOUT Ocean Network Express (ONE) has unveiled plans for its first standalone container service from India to the US East Coast, aimed at capitalizing on India’s fast-growing export market. ONE said in a statement on Monday that the West India North America (WIN) service …
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PORT HOUSTON RECORDS NEW LOADED EXPORTS RECORD Port Houston celebrated a major milestone in October, reporting the highest volume of loaded exports in its history. Compared to the same period last year, loaded exports increased by an impressive 6%. Year-to-date export figures also show a significant growth of 10%, with a total of 1,151,638 twenty-foot …
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