World Maritime News

World Maritime News (33)

May 10, 2022

World Maritime News

Disruption of supply chain and outlook for container freight rate Uncertainty over economic recovery and China's lockdowns has seen a decline in volumes and rates in northern Europe. But longer-term contracts remain over twice last year's level. Containerized spot freight rates have declined, continuing a trend since rates peaked in the first week of this year. Delays in container transport from Asia increased in the first quarter, even before the impact of the latest pandemic-related restr

World Maritime News (32)

April 20, 2022

World Maritime News

Chinese measures against COVID-19 impact logistics Cargo flows at China’s largest ports continue to face disruption as a new wave of coronavirus infections across the country poses a threat to the global supply chain. Key port cities, including Shanghai and Ningbo, are facing logistics bottlenecks as China is grappling with its worst spate of infections. China is blocking more highways to curb the spread of coronavirus as the snarl-up in Reduced trucking capacity in Shanghai and the closure o

World Maritime News (31)

April 05, 2022

World Maritime News

Africa bracing for food crisis as war cuts grain supply chain African economies are bracing for a catastrophic fallout from the war in Ukraine. The rapid report from the United Nations Conference on Trade and Development revealed that in 2020 every single ton of wheat imported by Benin came from Russia, while all imports into Somalia came from either Russia or Ukraine. Three-quarters of Egypt’s wheat came from these exporting countries, and neighboring Libya and Tunisia are heavily dependent on

World Maritime News (30)

March 22, 2022

World Maritime News

Impact on port and maritime industry due to Russian invasion of Ukraine The conflict in Ukraine and the ensuing sanctions on Russia are likely to have an ongoing impact on global container supply chains despite the relatively limited volumes shipped to and from Russia. The impact of the conflict in Ukraine on container shipping is likely to come more from increased bunker costs rather than any direct disruption to the sector. The sudden increase in fuel-related shipping costs caused by the war

World Maritime News(29)

March 08, 2022

World Maritime News

Ukraine Crisis Most of the world’s major carriers have now suspended shipments to and from Russia, severely restricting commercial maritime access to the country after it invaded Ukraine. Russia’s invasion of Ukraine has prompted the closure of the country’s main port of Odesa, forcing container carriers to divert vessels. Read more:JOC |JOC2 The movement toward restricting the shipping industry US President Joe Biden has called on Congress to address problems in the ocean shipping indu

World Maritime News(28)

February 22, 2022

World Maritime News

Global trade surges past pre-pandemic level Despite a severe blow at the start of the pandemic, the value of goods and services traded internationally is now at record highs. Trade figures reached a new record of $28.5trn in 2021, up 13% on pre-pandemic levels, according to the latest World Trade Outlook from UNCTAD. But while figures remained strong and even accelerated during the fourth quarter, the outlook for the first quarter is not as strong, with trade expected to slow in the first quart

World Maritime News(27)

February 09, 2022

World Maritime News

Redeploying vessels to transpacific trade lane from regional services The increase in capacity on the transpacific alone was larger than total fleet growth in 2021. As a result, carriers are moving tonnage, particularly from intra-Asia services, to fill the gaps. Although fleet capacity increased by 4.5% during 2021, figures from Alphaliner show that shipping companies deployed over a fifth of the 25m teu in service to Asia-North America services from 17.5% at the start of 2021. Read more:Ll

World Maritime News(26)

January 25, 2022

World Maritime News

New indicators for port congestion and supply chain disruption The Federal Reserve Bank of New York launched a new Global Supply Chain Pressure Index designed to provide a “bird’s eye view” of supply chain disruptions. The metric suggests that pressures have peaked, although at a historic high. The index integrates 27 variables covering global transportation costs and country-specific supply chain measures and aims to provide a comprehensive summary of potential disruptions affecting global

World Maritime News(25)

January 12, 2022

World Maritime News

Outlook for supply chain disruption in 2022 Early this year, any expectations of easing supply chain congestion and containerized freight rates are too optimistic as the pandemic continues to exert its influence over the sector. Carriers and their customers began their 2021-22 service contract negotiations several months earlier than usual, seeking stability and predictability in an eastbound trans-Pacific trade roiled by supply chain disruptions. With import volumes in the trans-Pacific proj

World Maritime News(24)

December 22, 2021

World Maritime News

Supply chain disruption risk in 2022 The fundamental structural market vulnerabilities that had led to so much disruption this year remain in place, according to Drewry head of supply chain advisers Philip Damas. On top of this, however, shippers faced four other key risks in the year ahead. Key among these is the chance of another dispute between the International Longshore and Warehouse Union and US west coast port employers when the two parties renegotiate their labor agreement. Despite eff

World Maritime News (23)

December 08, 2021

World Maritime News

Measures against supply chain crisis and issues in LA/LB ports The US President said terminal operators at the ports of Los Angeles and Long Beach would eliminate fees when truck drivers come into the port to collect containers if they do so at night or on weekends when roads are less congested. However, FMC commissioner Carl Bentzel said the temporary amendment to the PierPass program would not do much to promote 24/7 operations. CMA CGM plans to offer incentives to importers to remove contai

World Maritime News (22)

November 24, 2021

World Maritime News

Outlook for freight rate, supply chain crisis, and US demand for goods Freight rates may be beginning to come off the boil on some trade lanes, but there are warnings that any relief will be relative and that a return to sustainable rates is still some time off. According to Sea-Intelligence chief executive Alan Murphy, to get back to the rate levels seen between 1998-2014 would require a 69% fall from where they are now. Container lines and their largest import customers are beginning trans-P

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