SONAR sightings for April 4: Chicago to LA, weekly port update, more

The highlights from Monday’s SONAR reports are below. For more information on SONAR — the fastest freight-forecasting platform in the industry — or to request a demo, click here. Also, be sure to check out the latest SONAR update, TRAC — the freshest spot rate data in the industry.

Lane to watch: LA to Chicago

Overview: Carriers are now avoiding the overcorrected LA market.

Highlights:

  • Spot rates from Chicago to LA have risen gradually over the past two months in this lane, increasing from $1.87...

https://www.freightwaves.com/news/sonar-sightings-for-april-4-chicago-to-la-maritime-port-update-more

Kalmar Gloria reachstackers to help Uwe Kleinwort address growing rental demand

Kalmar, part of Cargotec, has concluded an agreement with Uwe Kleinwort GmbH to supply five Kalmar Gloria reachstackers with a lifting capacity of 45 tons. The order was booked in Cargotec’s Q1 2022 order intake, with delivery scheduled for Q4 of 2022. Located in the Port of Hamburg in northern...

https://www.hellenicshippingnews.com/kalmar-gloria-reachstackers-to-help-uwe-kleinwort-address-growing-rental-demand/

Baltic Exchange to U.K members: Don’t do business with Russians

A large part of the world’s ship chartering and sale & purchase business is negotiated at some stage by members of the London-based Baltic Exchange, the world’s oldest shipping market.

Today, the Baltic warned its U.K. members not to broker, charter or sell vessels to persons connected to Russia, citing U.K. sanctions put in place following Russian’s invasion of Ukraine. Those sanctions cast a very wide net in terms of who they target and who must comply.

Here’s what the Baltic said in its...

https://www.marinelog.com/legal-safety/compliance/baltic-exchange-to-u-k-members-dont-do-business-with-russians/

ExxonMobil-led group sanctions Yellowtail oil development offshore Guyana

A group of three global producers led by ExxonMobil has sanctioned the Yellowtail oil development offshore Guyana, the fourth and largest project to date on the Stabroek Block along the coast of the small, South American resource-rich country. The project, which includes partners Hess Corp. and...

https://www.spglobal.com/platts/en/market-insights/latest-news/oil/040422-exxonmobil-led-group-sanctions-yellowtail-oil-development-offshore-guyana

Ukraine crisis introduces uncertainties but medium-term outlook for shipping is good, says DPM Heng

The war in Ukraine has already placed a greater strain on shipping with air and rail cargo delivery disrupted, but the “strong fundamentals” of the shipping industry means that its medium-term outlook is still good, Deputy Prime Minister Heng Swee Keat said. This is despite the more than 100 ships...

https://www.hellenicshippingnews.com/ukraine-crisis-introduces-uncertainties-but-medium-term-outlook-for-shipping-is-good-says-dpm-heng/

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