Air cargo operations are gradually returning to normal following widespread disruptions caused by a global IT outage last week. The incident, triggered by a faulty software update from cybersecurity firm CrowdStrike, sent shockwaves through the aviation sector, causing widespread delays, cancellations, and operational gridlock. Major airports and cargo handling giants like Schiphol and Swissport have …

Air Cargo Industry Recovers from Global IT Outage Read More »

Suez Canal Traffic and Revenue Collapsed The Suez Canal Authority (SCA) has revealed a catastrophic 23.4% decline in annual revenue for the fiscal year 2023/2024. This dramatic downturn is directly linked to the escalating Red Sea crisis. Heightened tensions in the region, primarily driven by the Israel-Yemen conflict, have compelled ship owners to avoid the …

Suez Canal Revenue Plummets Amid Red Sea Crisis Read More »

The World Shipping Council (WSC) announced a significant decrease in containers lost at sea in 2023, marking the lowest number since record-keeping began in 2008. Only 221 containers were lost out of a staggering 250 million transported, surpassing the previous low of 661 containers in 2022. Recovery and Continued Vigilance: While approximately 33% of lost …

World Shipping Council Reports Lower Container Loss at Sea Read More »

The Tradewinds Shipowners Forum at Posidonia 2024 featured a dynamic opening session with key industry leaders discussing pressing challenges and opportunities in the maritime sector. Here’s a breakdown of the key topics: Shadow Fleets: A Threat to Safety and Environment Harry Conway (IMO) highlighted concerns about shadow fleets, vessels operating outside regulations, posing risks to …

Posidonia 2024: Tackle Shipping Industry Challenges Read More »

CMA CGM is implementing a Peak Season Surcharge (PSS) for shipments traveling from Asia to La Reunion. This applies to cargo originating in China, Taiwan, Hong Kong & Macau SAR, Southeast Asia, South Korea, and Japan. Key Points: Affected Routes: Asia (China, Taiwan, Hong Kong & Macau SAR, Southeast Asia, South Korea, Japan) to La …

New CMA CGM Peak Season Surcharge for Asia-La Reunion Routes Read More »

Strong Demand and Capacity Shortages Drive Rates Up Liner operators are reporting their strongest operating margins since 2010, excluding the COVID-19 boom, according to a recent report by Alphaliner. This surge is attributed to a combination of high demand and capacity limitations caused by Red Sea diversions. Average Margins Bounce Back The average operating margin …

Liner Operators See Highest Margins Since 2010 (Ex-COVID) Read More »

Strong Export Growth Continues Vietnam’s exports maintained their impressive growth trajectory in the first half of May 2024, reaching US$14.64 billion. This marks a 16% increase compared to the same period in 2023. Key Export Sectors Four product groups accounted for over US$1 billion in exports during this period: Computers, electronic products, and components Telephones …

Vietnam’s Exports Reach $14.64 Billion in First Half of May Read More »

Shipping routes between Asia and the Mediterranean (Asia-MED) are experiencing significantly longer transit times due to the Red Sea crisis. Impact: Ships are being forced to take a longer route around the Cape of Good Hope, leading to an average increase of 39% in minimum transit times. This data is based on a comparison between …

Asia-MED Shipping Times Soar 39% Due to Red Sea Crisis Read More »

Maersk Air Cargo, the airfreight arm of Danish shipping giant A.P. Moller-Maersk, is bucking the industry trend by aggressively expanding its operations in 2024. While many competitors are pulling back due to a recent downturn, Maersk is forging ahead with new facilities, routes, and most notably, the upcoming arrival of its first two Boeing 777 …

Maersk Air Cargo’s Expansion Plans Despite Industry Downturn Read More »

Container shipping rates have seen a dramatic increase since May 2nd, 2024, following a period of decline. This surge is attributed to several factors: Congestion in Asian ports High import demand in the US Reduced capacity on Asia-Europe routes Geopolitical tensions in the Red Sea These factors caused a 28.8% increase in rates over just …

Container Shipping Rates Surge After Dropping Early 2024 Read More »