PANAMA CANAL INCHES BACK TO NORMALITY The Panama Canal Authority (ACP) has upped the maximum authorised draft allowed for vessels transiting the larger neopanamax locks by 30 cm to 14.94 m as it gets back to normal operations following more than a year of drought linked difficulties. The canal increased daily transits to 35 slots …
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HOUTHIS ASSERT ATTACKS IN MED AND RED SEA INCLUDING FIVE MISSILES AT A SHIP The Houthis are asserting a broad array of attacks conducted on a range of ships in both the Mediterranean and the Red Sea, including a barrage at one vessel and targeting a Maersk vessel. Spokesperson Yahya Saree asserted all the attacks …
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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 …
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