The Shanghai Containerized Freight Index (SCFI) has reached a record high of 2,979.76 points last week with average freight rates on the spot market nearly breaching a new historical benchmark of $5,000 per FEU between Shanghai and the US West Coast. Meanwhile, spot rates in the Shanghai – North Europe trade increased to an average […]
DP World Limited handled 18.9 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals in the first quarter of 2021, with gross container volumes increasing by 10.2% year-on-year on a reported basis and up 9.6% on a like-for-like basis. The first quarter witnessed a strong start to the year and all three […]
The container shortages that have been adding to logistics logjams in Asia and beyond are showing few signs of being resolved, according to the latest data from Container xChange, the world’s leading online platform for the leasing and trading of shipping containers. In China, average prices for used twenty-foot containers increased 94% between November 2020 […]
During Week 16, MABUX World Bunker Index continued slight downward movement following general trends on global crude oil market. 380 HSFO index fell by 1.71 USD: from 420.45 USD/MT to 418.74 USD/MT, VLSFO Index decreased by 5.45 USD: from 512.44 USD/MT to 506.99 USD/MT, while MGO Index lost 3.98 USD (from 584.61 USD/MT to 580.63 […]
MABUX World Bunker Index decreased during the week. The 380 HSFO index has decreased from 407.92 USD/MT to 420.77 USD/ MT (+12.85 USD), VLSFO has added 15.16 USD: from 497.76 USD/MT up to 512.92 USD/MT. MGO LS increased by 12.34 USD from 572.70 USD/MT to 585.04 USD/MT. The Global Scrubber Spread (SS) – the difference […]
The Port of Charleston’s Hugh K. Leatherman Terminal is expected to receive its first vessel this Friday, with multiple services making the shift to the new container terminal this month. The South Carolina Ports Authority provided the estimated time of arrivals for the first vessel of each service that will be calling the Leatherman Terminal […]
The Port of Los Angeles processed 957,599 TEUs in March, a 113% leap compared to March 2020 when global trade slowed to a crawl at the outset of the COVID-19 pandemic. It was the strongest March in the Port’s 114-year history, its busiest first quarter and by far the largest monthly year-over-year increase. Year to […]
The Southeast Asia to U.S. trade has seen a sharp uptick in container capacity as consumer goods demand across the nation remains strong. U.S. goods shipments from Vietnam, the leading country in Southeast Asia the U.S. imports goods from, have been surging in recent years thanks to cheaper labor in Vietnam than in China, U.S.-China […]
The vessels delayed by the Ever Given incident are on the move but problems aren’t over. Ocean freight has already been disrupted by the pandemic, leading to spiking container tariffs and 7 out of 10 vessels arriving late. The Suez incident will keep the market off balance for longer, fuelling ongoing capacity constraints and elevated […]