By Nick Savvides (The Loadstar) – A Pennsylvania-based shipper has lodged a formal complaint against two global shipping lines. In a $600,000 lawsuit filed with the Federal Maritime Commission (FMC) last week,…
ship freight rates
Container Rates to U.S. Top $10,000 as Shipping Crunch Tightens
By Brendan Murray (Bloomberg) — Container shipping rates from Asia to the U.S. and Europe increased to new record levels over the past week, ensuring transportation costs will stay elevated for companies heading…
Skyrocketing Containership Rates Draw EU Scrutiny
By Aoife White (Bloomberg) Container shipping’s surging rates are getting scrutiny by the European Union, adding to a U.S. call for more competition among shipping alliances. The European Commission “is…
2021 Container Rates Surge 333% From One Year Ago
By Brendan Murray (Bloomberg) –The cost to ship a boxload of goods to the U.S. from China edged close to $10,000 as the world’s biggest economy keeps vacuuming up imports…
Retail Suppliers Scramble to Secure Christmas Goods as Cargo Delays Worsen
By Lisa Baertlein and Jonathan Saul LOS ANGELES/LONDON, June 29 (Reuters) – Suppliers to Walmart , Target, Amazon.com and other major retailers told Reuters they are placing holiday orders for…
Shipping Woes Means You May Want to Christmas Shop Early
By Brendan Murray (Bloomberg) — If it seems like shipping delays and soaring delivery costs aren’t getting any better, it’s because they’re both getting worse. Throughout the pandemic, blame for global…
Shipper Fury as Container Freight Rates Soar
By Mike Wackett (The Loadstar) – Short-term freight rates from China to North Europe have breached the $20,000 per 40ft mark, while transpacific carriers are quoting rates of up to $25,000 to…
Deutsche Bank Set to Reap $1 Billion on Trader’s ZIM Bet
By Irene García Pérez and Luca Casiraghi (Bloomberg) — Mark Spehn couldn’t join billionaire Idan Ofer at his seaside villa north of Tel Aviv for a June 8 party to mark…
Out-of-Control Shipping Costs Fire Up Prices From Coffee to Toys
By Alex Longley, Catherine Bosley and Deirdre Hipwell (Bloomberg) — The skyrocketing price of shipping goods across the globe may hit your pocketbook sooner than you think — from that cup…
U.S. Maritime Regulator Sees Shipping Snarls Lasting to 2022
By Brendan Murray (Bloomberg) — The top U.S. maritime regulator said stretched global supply chains pushing ocean-freight rates to record highs may stay strained into 2022, raising concerns about whether small…