Terminal operators at the ports of Los Angeles and Long Beach are working to resolve the backlog of rail containers that is a result of strong import demand over the past few months. US imports from Asia were 39.6% higher over January and February compared to...
A surge in imports, compounded by a shortage of available rail cars, has seen the Port of Vancouver hit with rail container backlogs. Whilst import-laden containers declined by 12.7% last year, they increased by 22.3% in January and February, creating congestion and increasing dwell times....
Improved water levels have seen The Panama Canal Authority announce the opening up of three more daily transit slots (as of March 2024) to accommodate growing demand. These additional slots will increase the daily quota to 27, representing a significant increase from the daily limit...
The disruptions across the Red Sea continue unabated, with ongoing route diversions, prolonged transit times and associated delays resulting in an 80% volume reduction of maritime traffic across the Suez Canal. However, whilst the continued shipping diversions have seen rates surge 200% throughout January and February,...
As of 3 June 2024, Australian businesses exporting to the European Union (EU) will need to fulfill additional data requirements. As part of the upcoming third release of the EU’s Import Control System 2 (ICS2), all cargo that is discharging, transhipping in the EU, Northern Ireland,...
In welcome news, China 's Ministry of Commerce has announced the abolishment of tariffs on Australian wine, which became effective as of 29th March 2024. Prior to the introduction of these punitive tariffs, mainland China was Australia's most valuable export market, worth AU$1.3billion, a value...
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The latest Drewry World Container Index (WCI) decreased by 5% to US$3493 per 40-foot container this week, however experienced an 88% increase when compared to the same week last year. The average composite index for the year to date is US$3553 per 40-foot container, which is...
The EU has announced new regulations around sustainable aviation fuel (SAF) expectations for airlines that fly within or depart from EU nations. These new green laws ReFuelEU focus on aviation and outlines that all flights departing from and to an EU airport must use a minimum...
A backlog at Oakland International Container Terminal (OICT) is expected to clear within the next fortnight. This backlog was caused by a combination of various factors, including an electrical outage, low worker productivity due to Super Bowl Sunday and super-post Panamax ships waiting for a...