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 […]
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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 […]
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 […]
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 […]
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 […]
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 […]
