China’s Taizhou Zhonghang Shipbuilding has launched a new large crane ship ordered by China Communications Construction Company (CCCC) for operation by its Third Harbour Engineering Bureau. Upon completion, Sanhang Xiang’an will have an LOA of 186 metres, a beam of 48 metres, and a depth of 13.5...
Eastbound trans-Pacific ocean container spot rates plunged again this week as container ship capacity on the trade lane recovers and volumes reset at a lower level than they were pre-Lunar New Year.
The Freightos Baltic Daily Index spot rate for China to the West Coast of North America fell from $3,620 per forty-foot equivalent unit to $2,976 per FEU this week, a drop of 17.8%. The rate has come down more than 36% since March 1 as steamship line networks have adjusted and capacity has loosened...
https://www.freightwaves.com/news/trans-pacific-container-rates-plunge-again
South Korea’s flagship carrier HMM has signed a memorandum of understanding (MoU) with Shanghai International Port Group (SIPG) to cooperate on clean marine fuel. This agreement between the two will focus on bunkering methanol and LNG at Shanghai Port along with supporting carbon reduction goals,...
https://splash247.com/hmm-inks-deal-to-bunker-methanol-and-lng-at-shanghai-port/
MANILA, April 1 (Reuters) – Countermeasures by the Philippines to China’s conduct in the South China Sea will entail strengthening its defence capabilities with allies and exhausting all diplomatic measures to resolve…
In Maersk’s press release last week about a new warehousing facility in Tijuana, Mexico, one line stood out. It was sandwiched between a list of value-added services offered and a paragraph about the facility’s sustainable energy practices and certifications.
“Alternatively, it could operate [fulfillment or e-fulfillment] operations into the United States, leveraging the Section 321 Shipment Type** for e-commerce shipments.”
Under U.S. Customs and Border Protection rules, a Section 321 shipment...
https://www.freightwaves.com/news/how-china-skirts-tariffs-into-the-us
Terminal Portuario Jinzhao Peru, a subsidiary of Chinese construction company Jinzhao, has been awarded a contract for the design, financing, construction, operation, and maintenance of a new large port in San Juan de Marcona in Nazca province in southern Peru. The contract awarded by the Peruvian...
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By Alasdair Pal(Reuters) – New Zealand said on Monday it will dispatch defence personnel, helicopters and a naval ship to the Solomon Islands to assist in a national election due next month, where relations…
By Yi Wei Wong Mar 23, 2024(Bloomberg) –Yemen-based Houthis fired a missile at a Chinese-owned oil tanker called M/V Huang Pu on Saturday, the US Central Command said. The Iranian-backed Houthis…
https://gcaptain.com/houthis-fired-missile-at-chinese-owned-ship-in-red-sea-us-says/
Chart of the Week: Import Ocean TEUs Index – China to Mexico, China to USA SONAR: IOTI.CHNMEX, IOTI.CHNUSA
Import bookings have doubled from China to Mexico compared to the same period in 2019, with the bulk of the increase coming in the past year. By contrast, import bookings from China to the U.S. are up a still-impressive approximately 40%, but nothing like the Mexico figure. What does this mean for the U.S. freight market?
The Inbound Ocean TEUs Indices (IOTI) measure bookings of...
https://www.freightwaves.com/news/is-mexico-becoming-the-new-china