Shipping costs are increasing in significant trade routes for the foreseeable future. This trend is expected to persist at least until the Chinese New Year and possibly beyond. To address the rapid rate increases, we have decided to implement an Emergency Cost Recovery Surcharge (ECRS) ...
The heightened risks are already reverberating across the industry. Marine insurers in London have declared the southern Red Sea a high-risk zone, prompting shipping companies to obtain additional war risk coverage. Adding to the concerns, four major container shipping companies -- MSC, Maersk, CMA...
What does the Red Sea situation mean for shipping heavy machinery to Australia? The impact of these disruptions on shipping to Australia is dependent on various factors such as the nature of the goods being shipped, the shipping routes, and the shipping companies involved. For the RORO shipping...
In summary, the RSC reduced the number of vessels in the Red Sea and altered their behavior (i.e., COG and SOG). Consequently, the RSC had a significant impact on maritime trade, as analyzed in Sections 3.2 RSC impacts on maritime shipping networks, 3.3 RSC future impacts on the maritime...
In conclusion, the persistent high shipping rates on the Asia to Europe routes are not merely a symptom of temporary market fluctuations but a signal of deeper, structural challenges. As these trade lanes adjust to the new realities of post-Red Sea diversions, all market participants must recalib...
Red Sea shipping issues have been the hot topic this quarter for phenol, acetone and their derivatives, with import delays opening up domestic demand opportunities and leading to a firmer price sentiment in some markets. Rising feedstock and sea freight costs are a key area of focus. But these...
Second, although the Red Sea crisis also has a certain impact on China's textile and clothing exports to Europe (the routes in Europe and the Middle East have been empty), on the one hand, China Europe trains are more alternative to shipping. The space of China Europe trains has been bo...
Impact on Ocean Carriers and Ports Rising Ocean Freight Rates Shift to Alternative Shipping Methods Access real-time freight rate data with Freightos TerminalBook Demo The Red Sea Crisis: The Data Points With Lunar New Year just around the corner, the global shipping industry is still contend...
Meanwhile, the attacks in the area also have a financial impact on shipping, in the sensethat war risk insurance premiums for Red Sea voyages have reportedly increasedafter the multiple attacks. Latest attacks MSC confirmed that on 26 December 2023 the container ship MSC UNITED VIII was attacked...
The recent air cargo impact from the Red Sea diversions is a case in point in how airlines that invested in air cargo digitization in advance were able to maintain operations. Ports in India were among those hardest hit by the Red Sea diversions that started in mid-December. Schedules were...