ocean spot rates

Carriers’ pricing power slipping amid continued Red Sea conflict

The first fatal Houthi attack on a commercial vessel happened earlier this week, claiming three lives. The attacks in the Red Sea have created diversion around the Cape of Good Hope across all of the major container shipping companies, as they opt for the safety of crews and cargo at the expense of shorter transit times.

The result of the diversion has been a surge in global container spot rates of over 200% in a matter of weeks. Rates have reached levels well in excess of what was experienced...

https://www.freightwaves.com/news/carriers-pricing-power-slipping-amid-continued-red-sea-conflict

Restocking boosts January US port activity

The past few years have brought plenty of questions as to whether the COVID-19 pandemic changed supply chains permanently or, once constraints eased, if supply chains would return to pre-pandemic patterns. Those answers are starting to reveal themselves as the ports release January figures.

The biggest East Coast port, the Port of New York and New Jersey, retained its place as the second-busiest port in the country in terms of loaded imports, only surpassed by the Port of Los Angeles.

On...

https://www.freightwaves.com/news/restocking-boosts-january-us-port-activity

Are ocean spot rates past their peak?

2023 was a challenging year for ocean carriers, especially those that have spot exposure. They have seen significant slashes to revenue and profitability. 

Zim Integrated Shipping (NYSE: ZIM), a carrier with more spot exposure than some of the other large ocean carriers, saw a 61% year-over-year reduction in third-quarter revenue, and earnings before interest and taxes fell by $1.77 billion to a loss of $213 million. The Freightos Baltic Daily Index from China to the North American west coast...

https://www.freightwaves.com/news/have-ocean-spot-rates-passed-their-peak

Viewpoint: 3 inflationary warning signals the world can’t afford to miss

Another pandemic year is almost in the books and the forecasts of when the congestion will let up in 2022 have been flooding the news streams. But if COVID has shown us anything, it’s that this virus is the biggest source of uncertainty for the world. So what tea leaves can we look at for any insight? It’s simple: the flow of trade. 

There are three key indicators flashing inflationary warning signals that do not bode well for the American consumer or for consumers around the world.

The first...

https://www.freightwaves.com/news/viewpoint-3-inflationary-warning-signals-the-world-cant-afford-to-miss

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