The world’s largest container shipping company, MSC Mediterranean Shipping Company SA aims to enter the air freight market, starting the development of a new MSC Air Cargo solution. According to a recent announcement, MSC Air Cargo has been under development for several months and the new solution will be available from early 2023, following the delivery of the first of…
Container spot rates have fallen by 10% for the fourth week running as increasingly looks like the sector could be in for a hard landing. The bell weather Shanghai Containerized Freight Index (SCFI) has lost another 10.4% over the last week to be recorded at 2072.04 some 240.61 points lower than week earlier. The SCFI is now 59% lower than…
Yang Ming Marine Transport Corp. has added one new 11,000 TEU container vessel, namely YM Trillion, which is chartered from Shoei Kisen Kaisha, Ltd. and built by Imabari Shipbuilding Co., Ltd. YM Trillion was named and delivered to Yang Ming at a ceremony held at Imabari Marugame Shipyard on 21 September. YM Trillion will be deployed on Yang Ming’s Trans-Pacific…
SeaPort Manatee, one of Florida’s largest deepwater seaports, has been awarded a federal grant of nearly US$12 million to advance a 67,000m² expansion of container yard facilities at Florida Gulf Coast trade gateway. The upgraded infrastructure of SeaPort Manatee is one of 26 projects for which a total of US$1.5 billion in Infrastructure for Rebuilding America (INFRA) grant funding was…
Yang Ming Marine Transport chairman Cheng Cheng-mount has asserted that the ongoing correction in container freight rates is just a blip and the market should not be worried that the segment could return to its pre-pandemic struggles. At an investment seminar organised by Taiwan Stock Exchange on 12 September, Cheng said that China’s Covid-19-related lockdowns had caused the decline in…
Descartes: August imports kept pace with July, down 1.8% y/y on tougher comps. Containerized goods are still flooding into the U.S. at a near-record pace. Port throughput in August came in just under all-time highs. The pileup of waiting ships off East and Gulf Coast ports remains almost as bad as ever. U.S imports totaled 2,529,042 twenty-foot equivalent units in…
Shanghai Port Northeast Asia Empty Container Transportation Center has officially started operations at the port of Shanghai, the busiest container port in the world. The new container facility covers an area of 450,000m² and has an annual handling box capacity of 3 million TEU. “The new center will help us to apply digitalised and intelligent management to promote communications between…
PhilaPort welcomed the arrival of the vessel Wan Hai 315 to the Packer Avenue Marine Terminal this week. The weekly Asia – America 9 (AA9) Service makes calls to Haiphong, Vietnam; Shekou (Shenzhen), Shanghai, and Qingdao, China; Kaohsiung, Taiwan; and Balboa, Panama on its way to Philadelphia. “The arrival of Wan Hai Lines’ AA9 Service gives shippers a better alternative for…
Covid lockdowns are ticking up in China again with neighbourhoods in key port cities such as Shenzhen and Dalian forced back home this week, and mass testing underway at other important maritime gateways including Tianjin. There is no let up in the government’s zero-covid policy, which has stretched global supply chains a great deal this year. The difference today is…
The nation’s top port for containers is out with some big numbers again today. The Port of Los Angeles reported preliminary July figures showing an estimated 935,345 TEU crossed its docks last month, outpacing the previous record set in 2019 by 2.5%. The Port of Los Angeles has now set monthly records in five of seven months in 2022. Compared…
