According to maritime consultancy Drewry, reefer container freight rates continue to outperform the dry cargo trade, despite an unprecedented contraction in reefer seaborne trade last year, with the pattern is expected to continue over the next few years. Despite facing adverse factors such as weaker cargo...
According to the International Air Transport Association (IATA) June saw the smallest year on year contraction in global air cargo markets since February 2022, with a 3.4% decrease in global demand compared to the same time last year. As at June 2023, demand has decreased 8.1%...
US imports from Asia increased for the fifth consecutive month in July, reaching 1.46 million TEUs - the highest since September 2022. This increase reflects the increased probability that eastbound trans-Pacific trade will return to year-over-year import growth this upcoming peak season. Although total July imports from...
As previously notified, low water levels on the critically important Panama Canal have prompted the Central American country to reduce the number of vessels that pass through the key global trade route. Each day an average of 32 ships is allowed to pass through, which...
Wine Victoria has announced a plan to implement a $2.2 million USA Market Development Strategy that aims to increase the sales of premium Victorian wine across the United States of America. This plan will deliver several programs over the coming years that amplify the presence of...
The Ministry for Primary Industries have updated their guidelines and instructions covering mandatory pre-shipment fumigation requirements to protect against BMSB over the 2023/2024 high-risk season. These measures will come into effect on 1st September 2023 and will apply to target vehicles, machinery and parts exported on...
The Australian Department of Agriculture and Fisheries and Forestry (DAFF) have now updated their guidelines and instructions covering mandatory pre-shipment fumigation requirements to protect against BMSB over the 2023/2024 high-risk season. These measures will come into effect on 1st September 2023 (date of shipment from origin...
After 20 years of negotiation, the United Nations has adopted a marine biodiversity treaty for the high seas, the first international agreement of its kind. Whilst individual nations have jurisdiction over marine biodiversity out to the edge of their own waters, there have been few, if...
The latest update of Drewry’s composite World Container Index (WCI) has seen a weekly decrease by 2.7% to reach $1494.46 per 40-foot container whilst the composite index has dropped by 78.9% when compared to the same week last year. The index is now 86% below the...
Severe drought conditions affecting the Panama Canal is forcing container vessels to lighten their loads and pay higher fees, with further increases in the cost of shipping cargo through the canal expected this summer. The Panama Canal Authority (ACP) has stated it will progressively decrease the...