The diversions are expected to cause a general increase in freight rates. “This is likely to affect the entire industry, regardless of the contractual or spot rates of individual carriers,” said Mario Veraldo, CEO of MTM Logix. Adding 2,200 miles to a Singapore to Rotterdam trip,...
Spot rates are also set to exceed the Red Sea crisis peak on the Far East to North Europe trade, reaching USD 5280 per FEU on 1 June compared to USD 4 839 on 16 February. This will be the highest rates have been on this trade for 596 days...
“The threat level to Red Sea shipping remains high and it is uncertain how long this situation will persist for ocean freight given the Houthi attacks continue unabated. Shipping companies must therefore prepare and take account of higher emissions liabilities for the foreseeable future,” Grell say...
TheRed Sea crisisstarted at the end of 2023 and continued throughout 2024 impacting operations, freight rates and seasonal demand. Diversions around the Cape of Good Hope meant additional lead times of one to two weeks forAsia – Europeand Mediterranean shippers, and the capacity absorbed by long...
of 12,500+ have shown almost forward US imports due to • Demand remains healthy at no idling. least until Lunar New Year • Annual dry container driven by early Lunar New Year production could reach 7.3 potential new tariffs1), Transpacific freight rates have shown slight decreases. and...
Neither Flexport nor its advisors or affiliates shall be liable for any losses that arise in any way due to the reliance on the contents contained in this report. About the Author Flexport Editorial Team December 30, 2024 Related Content BLOG Global Ocean Carriers Halt Red Sea Transits – What...
In addition to shipment delays it is also likely that shippers will be faced with increased rate levels as a result of the latest development. According to Xeneta Chief Analyst, Peter Sand then ‘depending on the scale and duration, we could see ocean freight prices increase by up to 100 %...
The Wall Street Journal recently reported on the trend, noting that Maersk and France’s CMA CGM, which together operate more than 1,000 ships, are using planes to supplement their core ocean freight business due to the factmoving cargo on time is at a premium. ...
To facilitate the extra ships taken on charter due to the Red Sea crisis, ocean carriers have put a temporary moratorium on selling any containers, as well as pausing the return of equipment to lessors. With the exception of in some isolated trades, carriers have largely been able to manage...
grape exports DHL Global Forwarding | Ocean Reefer Market Update | Q4 2024 13 Update from the Region – MIDDLE EAST & AFRICA News from the Region • The avocado market from South Africa has opened up to China, which will increase sea freight volumes on that route and create new ...