Following the driest year and October on record, the Panama Canal Authority (ACP) has been steadily cutting daily vessel transit numbers and draught levels across the canal, with some restrictions possibly staying in force until 2028, with wider supply chain ramifications. With each transit of the Panama Canal consuming a large amount of water, drought …
With 2024 just weeks away, scheduled container shipping capacity post-Golden Week on both the trans-Pacific and Asia to North Europe trade-lanes is up massively. Over 30% to the USEC and over 10% to Europe, raising fears of a massive blank sailing program between now and the end of the year. Just a year ago container …
The EU’s Emissions Trading Scheme (EU ETS) extends to container shipping from the 1st January 2024, with significant legal, commercial and financial consequences for carriers and a new surcharges for shippers. Under the EU ETS carriers will purchase a capped number of permits, known as EU Allowances (EUAs) at auction that allow discharge of a specified …
In an attempt to recover operations back into the black and jettison unprofitable cargoes, the container shipping lines have deferred FAK freight rate increases from Asia until December, after their planned November GRIs failed. The Asia-North Europe rate increases, that were due to be valid from 1st November have been supported by radical capacity management …
While sea freight traffic is largely operating without significant issues, the conflict in Israel is impacting airfreight to the country and the surrounding region, with many carriers’ services subject to cancellation and delay. Many airlines have suspended direct flights to and from Israel, with many international aviation authorities avoiding the region’s airspace, and no bookings …
The UK’s Electronic Trade Documents Act (ETDA) came into force on the 20th September, providing an electronic bill of lading (eBill) the same legal status as a paper bill of lading. This is a major step forward in the modernisation of international trade and is anticipated to boost the UK economy by over ÂŁ1 billion …
On the 9th August 2022, the European Commission (EC) issued a call for feedback on the Consortia Block Exemption Regulation (CBER) and on Tuesday announced that it will not renew the sector’s exemption to operating shipping alliances when current legislation expires on 25th April. The Consortia Block Exemption Regulation (CBER) was introduced in 2009, after …
The cancellation of multiple October sailings from Asia to Europe is an attempt by the carriers to push capacity down and raise rates, but if they fail, they may not have another opportunity to significantly raise prices before Chinese New Year, next February. Container shipping lines across the three alliances have announced additional blank sailings …
With a 3-4 month delay for car and truck RoRo (PCTC/PCC) services, automotive clients have looked to container shipping to provide an effective alternative transport solution, that also turns out to be much better for the environment. As the automotive industry emerged from the Covid pandemic, growing demand has exposed and exacerbated many of the …
Just months after IMO 2023 launched, the International Maritime Organisation raised its carbon emissions targets, which will require more carrier investment and with the EU rolling out its emissions trading scheme from next year, shipping lines will be looking to recover a lot of costs from shippers. The revised IMO greenhouse gas strategy, adopted this …