Market News

Air Cargo Industry Recovers from Global IT Outage
Market News

Air Cargo Industry Recovers from Global IT Outage

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 [...]
  • admin
  • July 24, 2024
Air Cargo Industry Recovers from Global IT Outage
Market News

Air Cargo Industry Recovers from Global IT Outage

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 [...]
  • admin
  • July 24, 2024
World Shipping Council Reports Lower Container Loss at Sea
Market News

World Shipping Council Reports Lower Container Loss at Sea

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 [...]
  • admin
  • June 18, 2024
New CMA CGM Peak Season Surcharge for Asia-La Reunion Routes
Market News

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

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 [...]
  • admin
  • June 4, 2024
Asia-MED Shipping Times Soar 39% Due to Red Sea Crisis
Market News

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

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 [...]
  • admin
  • May 24, 2024
Maersk Air Cargo’s Expansion Plans Despite Industry Downturn
Market News

Maersk Air Cargo’s Expansion Plans Despite Industry Downturn

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 [...]
  • admin
  • May 23, 2024
Container Shipping Rates Surge After Dropping Early 2024
Market News

Container Shipping Rates Surge After Dropping Early 2024

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 [...]
  • admin
  • May 22, 2024

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