The latest Drewry World Container Index (WCI) increased by 7% to US$5117 per 40-foot container this week, which is 260% higher than average 2019 (pre-pandemic) rates of US$1420. The average composite index for the year to date is US$3510 per 40-foot container, which is $768 higher...
Ongoing Red Sea diversions, which have created longer shipping distances and times, are resulting in continual freight rate increases that continue unabated across numerous trade routes. The subsequent disruptions, including vessel bunching and port processing delays, are being experienced at both ends of the Asia-Europe trade...
Whilst vessel delays are lessening across key gateways such as Singapore, Ningbo, Qingdao and Klang in North and Southeast Asia, and equipment availability improves in China, it appears the converse is occurring across India. At Singapore there has been a slight improvement in wait times of...
The Port of Melbourne has signed a new renewable Power Purchase Agreement (PPA) as it progresses along its path to sustainability via the usage of renewable energy. As of 1st July 2024, the Port of Melbourne now obtains over 60% of its electricity needs from renewable...
According to a recent survey conducted by the International Road Transport Union (IRTU) there is a critical truck driver shortage across all business types and sizes in the Australian domestic trucking sector. Research shows that over 26,000 drivers are needed to fill the current gaps in...
The Inland Rail project, which is a 1600km freight rail line connecting Melbourne and Brisbane via regional Victoria, New South Wales and Queensland, is currently underway, with completion due by 2027. Consisting of 12 sections, Inland Rail involves a combination of upgrades and improvements with the...
The 1st of July saw the Department of Agriculture, Forestry and Fisheries (DAFF) launch AusTreat: a new initiative aimed at ensuring imported goods undergo proper biosecurity treatment before entering Australia. AusTreat is a holistic integrated scheme that will enable a more efficient and future-ready biosecurity system,...
The Department of Agriculture, Fisheries and Forestry (DAFF) has issued a further update to inform members that the new date for self-assessed clearance (SAC) charges has been delayed until the 1st of October 2024. This revised commencement date will allow the industry and DAFF to work...
Victoria International Container Terminal (VICT) has announced an increase to their infrastructure charge per full container, effective from 1 July onwards. This charge will apply to full import and export containers and will help VICT maintain and enhance their efficiency as they have continued to deliver a sub 37-minute...
Rachael Budd, CEO of Transolve Global, will be attending the upcoming International Bulk Wine & Spirits Show in San Francisco on 23-24 July at the South San Francisco Conference Center. Reach out and let us know if you'll be there, Rachael would love to see...