Shanghai has halted some container port operations and will cancel most flights Monday and Tuesday as Typhoon Chanthu approaches the city, which is China’s financial capital and a major shipping hub. The city’s container port, the world’s biggest, has suspended some...
Amid rising antagonism against carriers over skyrocketing freight rates, shipping major CMA CGM announced yesterday that it would stop all spot rate increases with immediate effect (September 9) to February 1, 2022. The Group has said it is prioritising its long-term...
Carriers’ inordinately high freight rates once again topped the agenda at the fifth biennial meeting of the Global Regulatory Summit convened to discuss competition issues related to the shipping industry. Federal Maritime Commission chairman Daniel B Maffei joined...
Having slipped from -9 to -13 index points during the second quarter of 2021, the FNB/BER Consumer Confidence Index (CCI) recovered some lost ground to -10 in the third quarter of 2021. That’s according to the latest data released by the Bureau for Economic Research...
Forwarders are predicting ‘big chaos’ and very high rates in the coming air peak season, as a host of issues combine, leading to demand significantly outstripping supply out of Asia. The problems in Shanghai, where an outbreak of Covid has led to strict crew and...
Louisiana is the heart of America’s offshore oil and gas industry, and the region’s energy production quickly shut down in advance of Hurricane Ida, with more than 90 percent of all offshore oil output shut in as a precautionary measure. Most of the...
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