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Back-to-school rush boosts Container Traffic, but challenges loom
Back-to-school shopping is booming, with projected spending of $41 billion, surpassing pre-pandemic levels. This surge is fueling optimism in the container transportation sector, with import cargo volume expected to reach 2 million TEUs in September and October. The China to U.S. trade route has seen a significant surge in Container Leasing Charges, with six of the top seven most expensive routes belonging to this lane, signaling strong demand and potential future challenges.
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Ocean freight contract market – August
Long-term ocean freight rates continued to fall in August, marking the 12th consecutive month of declines for carriers struggling to balance weak demand with rampant overcapacity. Which trade lanes are up against the ropes, and which appear to be punching above their weight?
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Future Fuel Demand From the Saudi Shipping Sector
The purpose of this commentary is to suggest a rough estimation of future exports and corresponding fuel consumption of the Saudi shipping sector up to 2040. For estimation purposes, we use two assumptions: (1) a global average energy intensity of 0.078 megajoules per tonne-kilometers (MJ/tonne-km). And (2) an average export distance of 5,441 nautical miles (nm) between Saudi Arabia and export trading partner countries.
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Decarbonising coastal shipping
This report outlines the most pressing challenges the coastal shipping sector currently faces and provides governments and policy makers with concrete actions to help address them. Coastal shipping – maritime transport that takes place between ports on the same continent – represents around half of the global shipping market. It is also crucial to the connectivity of island regions and regional development. Decarbonising coastal shipping presents both challenges and opportunities, as does the growing concentration of ownership in the maritime transport sector.
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ASEAN maritime outlook: 60% of maritime trade passes via Asia
The waters surrounding Southeast Asia are vitally important as arteries for global and regional trade and transportation. The importance of the region’s sea lines of communications (SLOC) is underlined by the fact that 60 percent of maritime trade passes through Asia, with the South China Sea carrying an estimated one-third of global shipping. Southeast Asian waters are important for global trade, as they are for regional trade as international sea cargo throughput for ASEAN totalled 3 billion tonnes in 2017 when data was available for all ASEAN Member States…
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London retains crown as leading global centre for maritime arbitration
London handled more than 85% of the world’s maritime arbitration in 2022 according to the findings of a comprehensive new report published today. The report analyses the latest figures from leading maritime arbitration associations and institutions, including those not yet publicly available. London was revealed to have maintained its position as the global centre for international maritime and transportation arbitration cases in 2022, handling approximately 1,907 new cases. This represents an almost 12% increase on the 1,703 cases in 2021.
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UPCOMING EVENTS
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SHIPPING TRENDS
Port throughput drops sharply in Europe and the US
September 15, 2023
Far East-North America trade sees big increase in ship size
September 7, 2023
COSCO rises, while ZIM falls to bottom of margin rankings
September 1, 2023
SHIPPING TRENDS
Port throughput drops sharply in Europe and the US
September 15, 2023
Far East-North America trade sees big increase in ship size
September 7, 2023
COSCO rises, while ZIM falls to bottom of margin rankings
September 1, 2023
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