Container rate negotiations on the Transpacific are about to begin in earnest, but Xeneta believes shippers and carriers both have strong hands and that will make discussions long and complex.
Three months of the Red Sea crisis, US cyber fears over Chinese made port cranes, and the Magna Carta of the seafaring kind and much more in the latest Maritime in Minutes.
Container line CMA CGM has resumed transit of some vessels through the Red Sea on a case-by-case basis, despite continued Houthi attacks on shipping transiting the region.
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.
Yet another attack on commercial vessels in the Red Sea/Gulf of Aden region, this time on the US flagged chemical tanker Torm Thor, again emphasises the difficulty in protecting trading routes from missile and drone attacks.
In 2023 the Panama Canal’s revenues increased by 14.9% to $4.97 billion despite handling less cargo due to draught and transits restrictions caused by drought.
Asian container lines including Cosco, Evergreen, HMM, and Ocean Network Express (ONE), as well as Anglo-Eastern Ship Management, are amongst the hardest hit by the European Union’s Emissions Trading System (ETS) which entered force at the...