Market News

Shipping giant Hapag-Lloyd has implemented new peak season surcharges for cargo shipped to North American ports from two key regions: East Asia and the Indian Subcontinent & Middle East. From Indian Subcontinent & Middle East: Applies to all 20’, 40’, reefer, and special containers (including high cube) gated in from June 17th, 2024 onwards (valid [...]

Shipping companies operating in the European Union need to prepare for stricter environmental regulations. The deadline to submit plans for monitoring fuel type and consumption under the FuelEU Maritime regulation is approaching on August 31st, 2024. What is FuelEU Maritime? Part of the EU’s Fit for 55 package, aiming to green the shipping sector. Requires [...]

Leading container line Ocean Network Express (ONE) has announced the launch of a brand new service connecting China, Vietnam, and Thailand, offering a significant boost to its Southeast Asian coverage. This exciting new route, commencing operations on May 27th, 2024, offers businesses a direct and efficient connection between key markets in Asia. Port Rotation The [...]

The Port of Antwerp-Bruges takes a significant stride towards becoming a climate-neutral port by 2050 with the launch of the Methatug, the world’s first methanol-powered tugboat. This innovative vessel joins the port’s growing fleet of eco-friendly tugs, including the Hydrotug 1 (hydrogen-powered) and energy-efficient RSD tugboats. An electrically-powered tugboat, the first in Europe, is also [...]

Asian ports are facing a surge in congestion reminiscent of the pandemic era, due to the ongoing crisis in the Red Sea. Here’s a breakdown of the situation: Red Sea Attacks Disrupt Shipping: Houthi attacks on vessels in the Red Sea have forced cargo ships to take the longer route around Africa’s Cape of Good [...]

Maersk has implemented new peak season surcharges for shipments from Far East Asia to various destinations. This update is crucial for businesses planning imports and exports during this busy period. Here’s a breakdown: To East Coast South America: Origin Destination Effective Date 20′ Dry (USD) 40’/45′ Dry (USD) 20’/40′ Reefer (USD) Vietnam, Brunei, China, Hong [...]