More so, an additional increase of $1,000 was announced by carriers for the first half of May and additional increases of $1,000 have started coming in already for the second half of May. This enduring high cost exceeds the estimated financial burdens to carriers caused by the diversions, ...
How to navigate the current freight market:Compare at least a few quotes and modes to make sure you are getting the best cost and most efficient service possible. Buffer your freight budget and transit time for changes. Costs due to unforeseen delays or limited capacity can arise, so be ...
"If a vessel transporting Chinese automobiles opts to circumnavigate the Cape of Good Hope on its way to Europe, the duration of the journey will be extended by two weeks. Even if the charter fees stay constant, the export cost for each Chinese car to Europe will increase by 20...
smaller players are feeling the pinch. Michael Short of logistics group CH Robinson, points out that fixed rates negotiated last year "never really saw the light of day" due to the Red Sea crisis. Compared to those rates, it is more like a 75-100 per cent cost increase for smaller ...
The investment bank estimates shipping disruptions could increase the core goods CPI inflation by 0.5%. The Red Sea disruptions could have a domino effect on the supply chain if the situation is not resolved by end of the first quarter, HSBC analysts told clients in a note Wednesday...
From the perspective of vessels numbers, there was a sharp decline during the week after November 14th, 2023, followed by a gradual increase until a sudden drop occurred in mid-December. After the RSC, the daily number of vessels in the Red Sea decreased from ∼400 to 350. In Table 2...
DP World investing to reduce emissions at Peru terminal Jan 30, 2025 Bulker at sea Dry Bulk Dry bulk freight rates fall further on weak demand Jan 30, 2025 Seatrade Maritime Qatar logo Feb 4 - Feb 5, 2025 Shaping the next era of maritime excellence ...
Ships are diverted via the Cape of Good Hope until a safe passsage can be guaranteeed, which significantly increases transit times betweeen Asia and Europe and require shipping lines to increase planned capacity. Cost increases are being implemented immediately.Jump...
Seaborne trade is on track to increase by 5.1% this year, with the Red Sea re-routing contributing approximately 3.0% to tonne-mile trade growth, the company said in a press release. Currently experiencing some of its highest returns in decades, the shipping industry ex...
West Coast ports, in general, have seena bump in volumedue to a variety of issues, including the Panama Canal. The Port of Los Angeles announced a 60% increase in container processing for February year over year. It was the seventh-consecutive month of year-over-year growth at the nation...