Singapore expects the supply chain remain under stress and for its port to continue playing a role as a location for shipping companies to catch up on schedules.
Chinese financial service provider, CITC Financial Leasing, has placed an order at Dalian Shipbuilding Industry (DSIC) for the construction of 10 bulk carriers.
Regional Container Lines (RCL), Pacific International Lines (PIL), and Interasia Line (IAL) are launching a new service between China and the Indian east coast
Despite some easing spot container freight rates major bottlenecks remain and Covid situation in China, as well as a possible US west coast labour dispute, are expected to keep rates relatively high through 2022.
Container line Ocean Network Express (ONE) has mapped out a $20bn investment plan over the next decade, the majority for new vessels to help meet decarbonisation targets.