Global shipping giant Hapag-Lloyd has implemented a substantial General Rate Increase (GRI) for cargo transported from Asia to key markets in Latin America, including the West Coast of South America, Mexico, Central America, and the Caribbean. This rate adjustment will impact a wide range of container types, such as 20′ and 40′ dry containers, high-cube …

Hapag-Lloyd Announces Rate Hike for Asia-Latin America Trade Read More »

Vietnam’s economy continues to thrive as evidenced by a remarkable surge in import-export activities during July. Preliminary data from the General Department of Customs revealed a total turnover of a staggering $70.11 billion, marking a substantial 9.4% increase compared to the previous month. This unprecedented figure represents a significant milestone for the country, surpassing the …

Vietnam’s Trade Soars: Import-Export Hits Record $70 Billion Read More »

A potentially catastrophic fire aboard the container vessel MSC Capetown III at the Port of Colombo was successfully extinguished by the Sri Lanka Ports Authority (SLPA) Fire Brigade on Sunday (August 11th). The blaze erupted around midnight while the ship was docked at the Jaya Container Terminal (JCT) Berth IV. Swift action by port authorities prevented …

Container Ship MSC Capetown III Catches Fire at Colombo Port Read More »

Civil society organizations target methane emissions, urge investment in zero-emission solutions A global shift away from liquefied natural gas (LNG) is on the horizon, driven by the “Beyond Methane Pledge” launched by a coalition of seven environmental organizations. Announced on July 31, 2024, the initiative aims for a complete phase-out of LNG and other methane-based …

Beyond Methane Pledge: A Call to End LNG in Shipping Read More »

Global airfreight demand surged in July, driving up rates across the board and setting the stage for a potentially explosive peak season. According to Xeneta, average spot rates climbed 20% year-over-year to $2.66 per kilogram, fueled by a 13% increase in cargo volumes. Key factors driving the market: Booming e-commerce: Online shopping continues to fuel …

Airfreight Market Soars, Peak Season Anticipation Builds Read More »

Hoa Phat Container Production (HPCP), a subsidiary of Vietnam’s leading industrial conglomerate Hoa Phat Group, has secured a major deal with global shipping giant Hapag-Lloyd. This landmark agreement marks a significant step forward for HPCP, positioning Vietnam as a rising star in the container manufacturing industry. Key Highlights: Strategic Partnership: HPCP and Hapag-Lloyd have formed …

Vietnam’s Hoa Phat Makes Waves in Global Container Market Read More »

Singapore-based shipping giant, Ocean Network Express (ONE), has announced a significant upgrade to its KVT (Korea-Vietnam-Thailand) service. Effective August 4th, the service will feature an enhanced port rotation of Incheon, Gwangyang, and Busan in South Korea, followed by Ho Chi Minh City in Vietnam, and Laem Chabang in Thailand (both discharge and load calls), concluding …

Ocean Network Express Boosts Korea-Vietnam-Thailand Trade Read More »

Despite strong overall performance in the second quarter, US airlines Delta, United, and American have been unable to fully capitalize on the surging e-commerce market from China. Key Points: Mixed Cargo Performance: While all three airlines saw increases in cargo ton-kilometers (CTK), only Delta and United experienced growth in freight revenue. American Airlines, on the …

US Mega-Airlines Struggle to Capitalize on E-commerce Boom Read More »

Typhoon Gaemi has caused widespread devastation across Taiwan, resulting in the sinking of a cargo ship and the grounding of several others. The powerful storm brought torrential rain, destructive winds, and hazardous waves to the northern part of the island, following a deadly path through the Philippines where it claimed 25 lives. The Fu Shun, …

Typhoon Gaemi Wreaks Havoc in Taiwan: Cargo Ship Sinks Read More »

The US Federal Maritime Commission (FMC) has introduced a new rule that will significantly curtail the ability of shipping lines to deny space for booked containers. This move aims to safeguard shippers from unfair practices and restore balance to the shipping industry. The rule, set to take effect on September 23, comes in response to …

FMC Cracks Down on Ocean Carriers: New Rule Shield Shippers Read More »