Nearly 12 weeks after the devastating collapse of the Francis Scott Key Bridge and blocking the Fort McHenry Federal Channel to all deepsea vessels, the Dali ship has left Baltimore for Norfolk to repair its damaged bow. Whilst the Port of Baltimore has been re-opened, the...
Florida International Terminal (FIT) has successfully renewed its lease agreement at Port Everglades for another 10 years, following authorisation by the Broward Country Commissioners and the local Port Authority. This extended tenure will see FIT invest $25m into the container terminal over the next 24 months,...
This month saw over 120 industry leaders from nearly 30 nations congregate for the Shaping the Future of Shipping Summit, which primarily focused on the current rise of global protectionism and its adverse impacts on shipping, customers and global trade. With shipping responsible for transporting over...
A settlement has been reached between South Carolina Ports Authority (SC Ports) and the International Longshoremen's Association (ILA) that will see The Port of Charleston's Hugh K. Leatherman marine terminal finally re-open. The agreement reached gives Leatherman's crane operators a choice to remain state employees or...
US exporters face unexpected costs and delays due to changes in dates for dropping off exports, which the Federal Maritime Commission (FMC) hopes to address with more consistent data. The FMC has sought input from shippers and other participants in the maritime supply chain for the...
This month has seen the launch of the International Maritime Cyber Security Organisation (IMCSO) in the United Kingdom, a not-for-profit body committed to improving standards of cybersecurity risk management across the maritime industry. IMCSO's mission is to be the standard in the maritime cyber security industry,...
The strong demand being experienced across Asia's export trade lanes is utilising a large amount of capacity being provided by shipping companies, which is causing tension in the quest to balance three main factors: high market demand, long transit times due to Red Sea diversions...
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...