World Maritime News

August 31, 2022

Outlook for container freight rate The peak in freight rates may have already passed. But even getting rates down to a 'new normal' of twice their 2019 levels will take up to two years. Spot rates may have fallen by one-third from their extreme peaks, but shippers should not expect rates to return to pre-pandemic levels for at least another year. Markets are expected to head further south this year amid weaker demand after the peak season. As a result, spot rates on the China-US west coast tra

World Maritime News (38)

July 20, 2022

World Maritime News

Congested US rail system threatens 'nationwide logjam' Los Angeles and Long Beach reported record high volumes in June. But disruptions in the inland supply chain threaten to set back work done to ease congestion. According to Gene Seroka, executive director of Port of Los Angeles, the US needs to solve the issues with its congested railway system to avoid further supply chain congestion during the peak season for containerized freight imports. "All eyes are focused on improving our rail produ

World Maritime News (37)

July 05, 2022

World Maritime News

Port congestion in Europe The number of vessels waiting in European anchorage remains steady, but congestion is still a problem behind the scenes. A rise in coronavirus infections is responsible for the labor shortage. The beginning of the summer holidays is putting further stress on operations. Strikes over pay at Germany’s North Sea ports threaten to worsen the situation in Europe. Negotiations between the German trade union and the Central Association of German Seaport Companies have failed

World Maritime News (36)

June 21, 2022

World Maritime News

Situations of port congestion in the US, Europe, and China The key US west coast gateway ports of Los Angeles and Long Beach are improving even as Europe’s congestion situation continues to deteriorate. “Although major North American ports remain heavily congested, we are now seeing some small signs of improvement on the west coast,” said Drewry senior analyst Eleanor Hadland. Already congested ports in North Europe are bracing for a spike in volume this summer following the lifting of COVI

World Maritime News (35)

June 07, 2022

World Maritime News

Middle East container ports most efficient globally in 2021: index Ports in the Middle East were the most efficient in the world in 2021 amid widespread disruption stemming from a pandemic-induced spike in volumes flowing from Asia to North America and Europe, according to the second edition of the global Container Port Performance Index (CPPI), jointly developed by the World Bank and IHS Markit, now part of S&P Global. Middle East gateways represented four of the top five ports in the annu

World Maritime News (34)

May 25, 2022

World Maritime News

The situations and outlook for supply chain disruption Overcrowded terminal yards and hinterland delays are leading to lengthy delays. A surge of cargo from Shanghai could lead to further problems. Delays to voyages from Asia to Europe are increasing on the back of high yard densities at northern European terminals and hinterland bottlenecks, leading to worse port congestion. “Container ships deployed on this route currently need an average of 101 days to complete a full round voyage,” Alph

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