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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 [...]

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 [...]

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 [...]

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 [...]

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 [...]

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 [...]