Amazing video showing the U.S. Coast Guard’s rescue of a mariner in distress approximately 6 miles west of the Columbia River mouth on Friday, February 3, 2023.
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The post [WATCH] Coast Guard Rescues Mariner After Waves Capsizes Boat appeared first on mfa...
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Israeli ocean carrier Zim has posted its first annual profit for three years – and the biggest in its 75-year history – recording a net income of $524m for 2020 and claiming it is a “revitalised company”, reports The Loadstar.
What Data SuggestZim carried an-above industry par 0.7% more containers last year than in 2019, at 2,841,000 teu, and revenue jumped 21%, compared with the previous year, to $4bn, for an ebitda of $1.04bn, up from $399m in 2019.
Its average freight rate was also up, by...
Container spot rates from Asia to North Europe are now 130% higher than at the start of the year, after a further spike this week.
Today’s Shanghai Containerized Freight Index (SCFI) recorded a 13.5% increase in its North Europe spot rate, to $2,374 per teu – however, in practice, market rates are considerably higher.
The SCFI Asia-Mediterranean component increased by $165, to $2,384 per teu.
One Shanghai-based NVOCC told The Loadstar several carriers were …
The post Spot rates to Europe...
https://theloadstar.com/spot-rates-to-europe-continue-to-provide-seasonal-bonuses-for-carriers/
Ocean carriers are racking up massive profits from the unrelenting spiral of rate hikes and surcharges across virtually all liner services.
Today’s Shanghai Containerized Freight Index (SCFI) recorded a further 81-point gain across its tradelane components and a new record reading of 1,938.32, a colossal 150% higher than a year ago.
Spot rates to North Europe increased by 9%, to $1,644 per teu – 134% higher than 12 months ago.
However, shippers told …
The post Ocean carriers ‘really kicking us...
https://theloadstar.com/ocean-carriers-really-kicking-us-while-we-are-down-say-forwarders/
Chinese authorities are set to interfere in both pricing and capacity management on the transpacific, as rates soared to record highs again this week.
China’s ministry of communications today discussed refusing to allow carriers to increase the spot rate from China to the US, and that their suspended sailings must be reinstated from week 42.
The move was reported by Zest Shipping Media, but not confirmed by the government. Zest noted that …
The post China set to step in and hold down rates, with...
https://theloadstar.com/china-set-to-step-in-and-hold-down-rates-with-ocean-freight-a-global-mess/
Despite a marginal decline in volumes, Israeli container carrier Zim has reported significant improvement in financial results last year.
In 2019, it earned revenue of $3.3bn, compared with $3.25bn in 2018, a 1.6% increase, which came on the back of a 3.7% increase in the average freight rate to $1,009 per teu compared with $973 per teu in 2018.
Total volumes were 2.8m teu compared with 2.9m teu in 2018.
Its adjusted ebitda …
The post Zim – ‘a strong operational and financial performance’ in a...
https://theloadstar.com/zim-a-strong-operational-and-financial-performance-in-a-difficult-2019/
Capacity on the transpacific Asia-US west coast tradelane will be cut by some 7,000 teu a week from May, Alphaliner reports.
However, this may not be enough to mitigate the negative drag of US import tariffs and the continued structural move of trade to east coast ports.
The revised alliance networks, after 1 April, will see HMM terminate its standalone services as it joins THE Alliance, while its South Korean compatriot, SM …
The post Carriers set to cut Asia-USWC capacity in response to...
https://theloadstar.com/carriers-set-to-cut-asia-uswc-capacity-in-response-to-weakening-outlook/
Today’s Shanghai Containerized Freight Index (SCFI) saw spot rates tumble again on the transpacific, as softening demand reflected the impact of US tariffs on Chinese imports.
Rates from Asia to US west coast ports, as recorded by the SCFI, slumped a further 9% this week to $1,229 per 40ft, as shippers rowed back on front-loading to beat new import tariffs on 15 December.
However, for the more robust lane to the US …
The post Transpacific spot rate slump continues amid global trade uncertainty...
https://theloadstar.com/transpacific-spot-rate-slump-continues-amid-global-trade-uncertainty/
OOCL has advised its customers it will blank two more voyages between Asia and the US west coast in weeks 47 and 49 as it struggles to balance supply with “expected low seasonal demand”.
The cancellation of the eastbound sailings of the 8,814 teu Northern Jupiter, on 18 November, and the 8,333 teu Belita, on 2 December, operated by OOCL’s partners in the Ocean Alliance, follow a slew of previous void …
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https://theloadstar.com/asia-uswc-tradelane-will-recover-despite-trade-war-shenanigans/
Asia-North Europe carriers continue to discount rates to fill their ships, suggesting that the usual pre-peak season recovery will be late, if it happens at all this year.
CMA CGM has slashed its headhaul FAK rate on the tradelane by $200 from 16 June, to $1,700 per 40ft as spot rates continue to slide.
The North Europe component of the Shanghai Containerized Freight Index (SCFI) declined a further 4.4% this week, to $745 per teu, and spot rates on …