Monthly Archives for July 2024

Rates from India to US, Europe explode amid heightened capacity pressures Spot booking prices from West India to the US East and West coasts have seen four- to five-fold gains in the last week or so, according to local freight forwarders. Rates from India to US, Europe explode amid heightened capacity pressures Journal of Commerce

Most newbuild capacity headed to Asia-Europe amid ongoing diversions The capacity deployments during the first half of 2024 show that smaller carriers have been deploying many of the new large ships serving the North America trade, while major alliance carriers have deployed most of their big vessels on Asia-Europe. Most newbuild capacity headed to Asia-Europe […]

Large forwarder acquisition activity, advent of AI puts pressure on midsize NVOs Midsize NVOs are always under pressure from an M&A perspective, say market observers, and the current freight rate environment is making it hard to value them accurately. Large forwarder acquisition activity, advent of AI puts pressure on midsize NVOs Journal of Commerce

Large forwarder acquisition activity, advent of AI puts pressure on mid-size NVOs Mid-size NVOs are always under pressure from an M&A perspective, say market observers, and the current freight rate environment is making it hard to value them accurately. Large forwarder acquisition activity, advent of AI puts pressure on mid-size NVOs Journal of Commerce

Elevated rates set OOCL on track for highly profitable first half The Cosco subsidiary benefited from a sharp increase in rates as early peak season demand on the main trades out of Asia filled all available vessel capacity. Elevated rates set OOCL on track for highly profitable first half Journal of Commerce

Carriers revalue Colombo transshipment calls amid congestion, Indian hub push Colombo in recent months has found itself suffering serious capacity issues – an opportunity the Indian government and the country’s port stakeholders are looking to take advantage of. Carriers revalue Colombo transshipment calls amid congestion, Indian hub push Journal of Commerce

ILA says strike ‘more likely’ as contract deadline looms with no progress The president of the International Longshoremen’s Association said maritime employers “are running out of time” to sign a new contract before the current deal’s expiration on Sept. 30. ILA says strike ‘more likely’ as contract deadline looms with no progress Journal of Commerce

FMC wants Maersk, Hapag-Lloyd to provide more details on Gemini alliance The US maritime regulator said the initial information the two carriers filed with the agency about the operational partnership “lacks sufficient detail to allow for a complete analysis of its potential competitive impacts.” FMC wants Maersk, Hapag-Lloyd to provide more details on Gemini alliance […]

MSC returns to vehicle carrier market after 8 million Gram Car Carriers takeover The deal marks MSC’s return to the booming car carrier market that it exited in March 2023 when it sold its two vehicle carriers to focus on transporting vehicles in containers. MSC returns to vehicle carrier market after 8 million Gram Car […]

ONE becomes latest carrier to add capacity to Asia-Mexico lane The liner follows MSC, Cosco and CMA CGM in rolling out new services that cater to the growing container trade between China and Mexico. ONE becomes latest carrier to add capacity to Asia-Mexico lane Journal of Commerce