Container Ship

Nyshex closes latest funding round, launches shipping rate indexes

The New York Shipping Exchange (Nyshex) announced Tuesday it has closed on its latest funding round and that it’s working with Intercontinental Exchange Inc. (ICE) to launch new shipping rate indexes.

Founded in 2015, Nyshex is a facilitator of two-way committed ocean container shipping contracts, ensuring contract performance between carriers and shippers on a shared digital platform. The exchange works to establish clear contract terms, providing an exception resolution process by a neutral...

https://www.freightwaves.com/news/nyshex-closes-latest-funding-round-launches-shipping-rate-indexes

POSITIVE OUTLOOK OF THE CONTAINER SHIPPING INDUSTRY

  • The DHL Ocean Freight Market update indicates a potential upturn in the global container shipping industry shortly.
  • Since October 2023, the ocean freight market has experienced year-on-year growth.
  • The global GDP is projected to increase to 2.5% this year from 2.3% in 2023.
  • Niki Frank, CEO of DHL Global Forwarding Asia Pacific, stated,“There are clear indicators that the economic tide is shifting in favor of trade growth.”

As per the recently released DHL Ocean Freight Market update report...

https://mfame.guru/positive-outlook-of-the-container-shipping-industry/

The Houthis sank a ship. But their attacks may be less disruptive for now

Source: FreightWaves SONAR. Drewry World Container Index, Shanghai to Rotterdam (WCI.SHARTM), Shanghai to Los Angeles (WCI.SHALAX), Shanghai to New York (WCI.SHANYC) and Shanghai to Genoa (WCI.SHAGOA).

Over the past few months, the Red Sea has shifted from a highly trafficked maritime passage to something more like a battleground. Attacks on cargo vessels by Houthi rebels have threatened both regional stability and the arteries of global commerce.

On March 2, the Rubymar finally sank. The cargo ship had been targeted by Houthi militants on Feb. 18 and had been taking on water in the days since. It’s the first vessel lost to the Houthi attacks in and around the Red Sea, which began in November...

https://www.freightwaves.com/news/the-houthis-sank-a-ship-but-their-attacks-may-be-past-peak-disruption

2 dead after fire aboard container ship at Port Houston

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Two crew members died and a third was injured after a fire aboard a container ship at Port Houston.

Th...

https://www.freightwaves.com/news/2-dead-after-fire-aboard-container-ship-at-port-houston

Container Shipping Lines Brace For Impact Amidst Imminent Fee Hikes

  • Container shipping lines are set to see another spike in costs next year.
  • Suez Canal Authority (SCA) announced that it would increase fees on northbound transits by 15%.
  • The increases will not apply to eastbound vessels returning to Asia whose last port call was at the Straits of Gibraltar.

The same hikes, which will take effect on 15 January, also apply to all other types of vessel except ro-ro ships, which will be subject to a 5% increase, sources Loadstar.

Hefty Cost Increases

However,...

https://mfame.guru/container-shipping-lines-brace-for-impact-amidst-imminent-fee-hikes/

OneGlobal Shipping Market Report for October 2023

Credit: Vidar Nordli-Mathisen on Unsplash

The attack by Hamas on Israel in October 2023 led to uncertainties in the oil supplies and global economic risks. The WTO reduced global trade projections, and during this time Chinese investors divested US assets at a four-year high level. Various developments were witnessed in the maritime and energy sectors including LNG and maritime industry changes.

Economy:
  • There is increasing concern about global oil supply due to the Hamas attack against Israel.
  • Wo...

https://mfame.guru/oneglobal-shipping-market-report-for-october-2023/

Changing Consumer Behavior Affecting Container Shipping

Credits: Eilis-garvey-unsplash

As we near the end of the traditional peak season, the spot rate declines over the past 2 weeks are a very clear indicator that the peak season did not really materialize. Further to that, there are dark clouds looming over the horizon for the Transpacific trade, in part linked to US consumer behavior.

Changing Consumer Behavior

One element is the change in consumer behavior we saw during the pandemic (from services to goods), which is very likely to change back and...

https://mfame.guru/changing-consumer-behavior-affecting-container-shipping/

COSCO’s Green Initiative to Transform Maritime Industry

Credits: Daniel Wright/Getty Images

COSCO Shipping Lines, a prominent Chinese shipping company, has marked a significant milestone by unveiling its first fully electric inland container ship in Yangzhou. This revolutionary vessel, known as N997, boasts a 700 TEU capacity and is powered by innovative container-sized battery units, setting a new standard for sustainable shipping.The report from engine.online.

  • COSCO Shipping launches its first fully electric container ship, N997, powered by...

https://mfame.guru/coscos-green-initiative-to-transform-maritime-industry/

Container Shipping ‘Maxed Out’ Highlights Leading Shipping Analyst

Credit: venti-views-unsplash

Alphaliner head analyst Jan Tiedemann says “for the first time in history”, the latest fleet additions are replacement vessels rather than designed to boost global capacity. 

Record Deliveries

With record container ship deliveries expected this year and next, most analysts have predicted further heavy downside pressure on container shipping freight rates to be offset by carriers’ efforts to reduce capacity by slow steaming, layups or, alternatively, by a...

https://mfame.guru/container-shipping-maxed-out-highlights-leading-shipping-analyst/

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