US-based container lessor CAI International has announced a $1.35bn investment which will see 700,000 new containers hit the sea. This initiative is in response to an anticipated increase in demand due to the shortage which has resulted from the volatile conditions across the Red Sea and...
The collapse of the Middle East peace talks has seen China's container shipping futures rally, with interest up 15% from the previous week, potentially indicating shippers belief that rates will stay elevated. In addition, Linerlytica's latest report revealed that spot market rates have risen by almost...
As market leaders in the bulk liquid space, we are excited to announce the addition of the largest flexi tanks available in the market to our fleet. This ground-breaking flexitank can transport up to 27,000 litres of bulk liquid across the globe safely, securely and with...
Whilst businesses may reap the benefits of lower rates, they may also experience a decrease in service levels and vessel schedule reliability as shipping lines adopt measures such as blank sailings and cancelled services in a bid to manage excess capacity. With capacity anticipated to increase...
Due to ongoing drought and low water levels, authorities have announced that the Panama Canal has further reduced the maximum number of ships travelling the waterway to 31 per day, (down from a daily limit of 35 during normal conditions), as well decreasing the allowable...
Following the recent agreement between the International Longshore and Warehouse Union (ILWU) Canada and British Columbia Maritime Employers (BCMEA), which saw all Industrial Action cease, the impacted ports of Vancouver and Prince Rupert are clearing out container backlogs that accumulated throughout this period. Substantial progress...
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...
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...
There's been substantial commentary around the lack of a perceived peak season in 2023 however given the rapidly changing situation across the ocean's trade routes, how accurate does this claim continue to be? Whilst traditionally the premise of a peak season is based on the volume...
Since 1 June 2023, Victoria International Container Terminal (VICT) at Webb Dock, Melbourne has been applying a VGM Weight Discrepancy Fee for full import and export containers determined to have a variance over or under one tonne from the container's Verified Gross Mass (VGM) declared...