CMA CGM has declared Force Majeure on shipments to and from the Port of Baltimore following the collapse of the Francis Scott Bridge after it was hit by the containership Dali.
The north Chinese port group of Shandong is enhancing collaboration with leading shipping lines targeting electric vehicles (EVs), lithium-ion batteries and photovoltaic products.
MSC and the Ocean Alliance lead the way on the Asia to Europe trades in terms of market share, but Alphaliner’s analysis shows a trade in flux that will necessarily change again before the end of this year.
The MSC Sky II was targeted by Houthis who fired an anti-ship missile which struck and damaged the vessel, UK MTO reports that all crew are safe and the ship has continued on its journey.
Ocean Alliance has chosen a period of crisis and flux to emphasise the container lines’ commitment to stability and cooperation by announcing an extension to the grouping of five years, from 2027.
The idle container ship fleet has contracted again as the crises in the Red Sea and Panama Canal suck capacity into service diversions and distort the market, as newbuildings arrive to alleviate tonnage crunch.
The world’s third largest container line CMA CGM has stopped transiting the Red Sea and is rerouting via the Cape of Good Hope to avoid the threat of Houthi attacks.
The impact of the Houthi attacks on shipping in the Red Sea have sent shockwaves throughout global shipping and these were highlighted by Mediterranean Shipping Company (MSC) at US Congress.
Following the dissolution of the 2M alliance, of Maersk and MSC, it was expected a realignment of the top 10 container lines could take place, the Gemini Cooperation could prove to be start of this shift, but the move could drive further merger...