A major fire broke out in a container storage yard in Yau Ma Tei, Hong Kong, on October 14, resulting in significant damage to over 10 containers. The blaze, believed to have originated from plastic materials, took 14 hours to extinguish. Firefighters faced challenges due to the nature of the materials involved and the confined …

Hong Kong Container Yard Fire Causes Significant Damage Read More »

Spot rates surge: Despite a recent dip in tonnages from Asia Pacific, global air cargo spot rates have reached their highest levels this year. Vietnam emerges as a hotspot: Carriers are increasing capacity to meet booming demand for ecommerce exports from Vietnam. Rates on the rise: Air freight rates from Vietnam to North America and …

Global Air Cargo Market Surges: Vietnam emerges as a Hotspot Read More »

Hurricane Milton, a Category 3 storm, made landfall near Siesta Key, Florida, on Wednesday evening, causing widespread damage and disruption throughout the state. Widespread Damage: Millions without power, roof of Tropicana Field shredded, at least 10 fatalities confirmed. Heavy Rainfall: Up to 18 inches of rain dumped on some areas, with additional rainfall and potential …

Hurricane Milton Wreaks Havoc Across Florida: Port Closures Read More »

MSC has announced plans to expand its Chinook service with the addition of a new call at Haiphong, Vietnam. This strategic move will bolster MSC’s Transpacific network, offering direct connectivity between Vietnam and the United States and Canada. Effective late October, the Haiphong call will provide North Vietnamese exporters and importers with enhanced access to …

MSC to Enhance Chinook Service with Haiphong Call Read More »

South Korea’s container trade with its Asian neighbors continued its upward trajectory in August, reaching the second-highest monthly volume on record. The country exchanged a total of 367,000 TEUs (Twenty-Foot Equivalent Units) of containers with eight other Asian economies, marking a 12% year-over-year increase. Exports and Imports on the Rise Exports accounted for 161,300 TEUs, …

South Korea’s Container Trade with Asia Surges in August Read More »

Hapag-Lloyd Announces General Rate Increase (GRI) for Asia to West Coast South America, Mexico, Central America, and Caribbean Cargo. Effective November 1, German shipping line Hapag-Lloyd will implement a General Rate Increase (GRI) of US$2,000 per 20-foot and 40-foot dry container on cargo shipments from Asia to the West Coast of South America, Mexico, Central …

Hapag-Lloyd Announces GRI for Asia-America Cargo Read More »

A major port strike on the US east and Gulf coasts is entering its third day, threatening to disrupt global container shipping. Supply chain analysts are warning of severe congestion and capacity shortages if the strike continues. Sea-Intelligence Consulting has issued a dire forecast, predicting that the first week of the strike alone could result …

The Looming Crisis: US Port Strike Threatens Global Shipping Read More »

The ongoing conflict in Gaza has had a profound impact on global trade, particularly for reefer cargo destined for the Middle East. As a result of the closure of the Red Sea and Suez Canal route, carriers have been forced to take a longer, more circuitous route via the Cape of Good Hope. This diversion …

Reefer Cargo Market Hit by Cape of Good Hope Diversions Read More »

Key Points: Spot rates on major east-west trade routes have continued to fall this week, though the decline has slowed. Asia-North Europe trade saw the largest decrease, with rates dropping 9% week-over-week.    Long-term contract rates have shown more volatility than expected, especially on the Vietnam-Rotterdam trade. Transatlantic rates have remained firm due to the …

Container Freight Rates Fall, Long-term Contracts Volatile Read More »

China and Vietnam is on high alert as Super Typhoon Yagi, the strongest storm to hit the region in nearly a decade, approaches its eastern coast. The typhoon, which intensified significantly after causing flooding in the Philippines, is expected to make landfall in Guangdong and Hainan provinces on Friday. Source: Hongkong satellites Key points about …

Super Typhoon Yagi: Service Disruptions in China & Vietnam Read More »