Containers

SITC International has placed an order at Yangzijiang Shipbuilding for the construction of six 2,600 teu container vessels plus four options.

AP Moller-Maersk has entered into a partnership with pharmaceutical firm Novo Nordisk on global cold chain logistics covering ocean services and inland transport.

The ongoing severe shortage of containers that is driving up freight rates is due mainly to logistical issues, not fleet underinvestment, according to shipping analyst Drewry.

CMA CGM has ramped up its capacity between Asia and Europe in response to “unprecedented demand” for shipping services.

Container freight rates are continuing to rise on capacity and availability crunch with SCFI spot rates to Europe up over 24% in the last week.

Container volume at eight major Chinese ports increased 3.7% year-on-year in late November, according to the statistics released by the China Ports and Harbours Association.

The port of Ningbo-Zhoushan port has new connection to West Africa with a service by Pacific International Lines (PIL).

Japanese car maker, Honda, has halted car production temporarily at its Swindon plant in the UK today, owing to port delays and a shortage of components.

The container shortage is not just affecting Asia ports, but also inland exporters in the US and in a number of European countries.

Hapag-Lloyd has joined Maersk in upping its 2020 earnings forecast as the container shipping market performs far better than expected.