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 witnesse....
Global maritime Hub
Published 3y-7mo-2d-3h-56m ago
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 u....
Global maritime Hub
Published 3y-7mo-2d-4h-13m ago
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....
Global maritime Hub
Published 3y-7mo-2d-4h-26m ago
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....
Global maritime Hub
Published 3y-7mo-1w-2d-1h-25m ago
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 servic....
Global maritime Hub
Published 3y-7mo-1w-2d-4h-23m ago
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....
Global maritime Hub
Published 3y-7mo-1w-2d-4h-36m ago
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....
Global maritime Hub
Published 3y-7mo-2w-2d-3h-11m ago
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 ong....
Global maritime Hub
Published 3y-7mo-2w-2d-4h-6m ago
MABUX World Bunker Index has shown downward changes during the week. The 380 HSFO index has decreased from 414.21 USD/MT to 409.56 USD/ MT 4.65 USD , VLSFO has lost 3.02 USD: from 500.59 USD/MT down to 497.57 USD/MT. MGO LS decreased by 0.72 USD from 572.99 USD/MT to 572.27 USD/MT. The Global Scru....
Global maritime Hub
Published 3y-7mo-2w-2d-7h-34m ago
The European innovation project Flagships will deploy the world amp 8217 s first commercial cargo transport vessel operating on hydrogen, plying the river Seine in Paris. Commercial operations are set to commence in 2021. The hydrogen cargo transport vessel will be owned by French inland shipowner ....
Global maritime Hub
Published 3y-7mo-2w-2d-22h-12m ago
With the Suez Canal open again, a stretched world trade system can’t catch up overnight, increasing the disruption to supply chains. The blockage is over, but the damage is done The six day long period of traffic being completely stopped in both directions along the Suez Canal has delayed some 16 ....
Global maritime Hub
Published 3y-7mo-3w-2d-4h ago
After starting the year with the highest January on record for volume, the Port of New York and New Jersey continued the record breaking trend into February with a 7.9 percent increase in overall cargo activity over February 2020. Total volume for February was 625,120 TEUs 347,635 lifts versus 579....
Global maritime Hub
Published 3y-7mo-3w-2d-7h-30m ago
April is traditionally the month that the three mega alliances implement changes in their East West networks. Due to port congestion and a shortage of ships, the situation looks very different this year. The Alliance has formally announced that part of the reorganization of the North Europe – US ....
Global maritime Hub
Published 3y-7mo-3w-2d-7h-58m ago
MABUX World Bunker Index has shown irregular changes during the week. The 380 HSFO index has increased from 408.36 USD/MT to 414.48 USD/ MT +6.12 USD , VLSFO has lost 5.08 USD: from 505.14 USD/MT to 500.06 USD/MT. MGO LS decreased by 8.54 USD from 581.39 USD/MT to 572.85 USD/MT. The Global Scrubber....
Global maritime Hub
Published 3y-7mo-3w-2d-9h-28m ago
Following years of restraint, the last two quarters have seen a massive wave of fresh container ship newbuilding orders, especially for ultra large vessels. High freight rates and the shipping lines’ strong financial results have finally renewed confidence in the carriers’ ability to generate mo....
Global maritime Hub
Published 3y-7mo-3w-2d-23h-4m ago
In the first quarter 2021, demonstrated firm upward evolution: the growth of MABUX HSFO 380 Global Index averaged plus 59.94 USD/MT, MABUX VLSFO Global Index amp 8211 plus 67.80 USD/MT and MABUX MGO Global Index amp 8211 plus 84.50 USD / MT. Global MABUX SS spread the difference in price betw....
Global maritime Hub
Published 3y-7mo-4w-2d-2h-40m ago
After months of crippling shortages, container availability is finally improving again in China, according to Container xChange amp 8217 s Container Availability Index CAx . The CAx reading of incoming containers across Chinese main ports is currently up 56% compared to before the Chinese New Year....
Global maritime Hub
Published 3y-7mo-4w-2d-5h-31m ago
The Suez Canal has been blocked by a large container ship, but last year amp 8217 s drop in world trade volumes is still the bigger problem for supply chains. With supply chains already under pressure, a large container ship has now literally blocked one of world trade’s major routes. Shipping ca....
Global maritime Hub
Published 3y-7mo-4w-2d-23h-12m ago
2M Alliance members Maersk Line and Mediterranean Shipping Co. MSC have unveiled several measures recently to improve schedule reliability, which has deteriorated across the liner shipping industry in general due to congestion at many ports around the globe. Measures Maersk and MSC are taking to b....
Global maritime Hub
Published 3y-8mo-5d-4h-48m ago
After a surprisingly quick world trade recovery, container shortages and new trade barriers are likely to dampen the potential for world trade growth over the course of the year. Nevertheless, we expect 6% growth in 2021 Escaping lightly During the pandemic, world trade has benefited from global rec....
Global maritime Hub
Published 3y-8mo-5d-5h-35m ago
Containership operators have emerged much stronger from the COVID 19 pandemic than the 2008 financial crisis due to a mix of generous government aid, buoyant volumes, carrier discipline, and a modest orderbook. Despite a steep –3.5% decline in world GDP last year, the global throughput of containe....
Global maritime Hub
Published 3y-8mo-6d-4h-53m ago
MABUX World Bunker Index has shown irregular changes during the week. The 380 HSFO index has declined from 431.14 USD/MT to 428.88 USD/ MT 2.26 USD , VLSFO has lost 2.80 USD: from 535.43 USD/MT to 532.63 USD/MT. MGO LS increased by 3.10 USD 601.79 USD/MT to 604.89 USD/MT. The Global Scrubber Sprea....
Global maritime Hub
Published 3y-8mo-6d-7h-15m ago
WASHINGTON – Imports at the nation’s largest retail container ports are expected to grow dramatically during the first half of 2021 as increased vaccination and continued in store safety measures enable additional shopping options, according to the monthly Global Port Tracker report released tod....
Global maritime Hub
Published 3y-8mo-6d-23h-40m ago
Particularly pronounced congestion at the ports of Los Angeles and Long Beach has been negatively impacting other ports along the U.S. West Coast, although there has been some silver lining for these other ports. Although the ongoing robust container import volumes are causing delays along the U.S. ....
Global maritime Hub
Published 3y-8mo-1w-7h-32m ago
MABUX World Bunker Index is back to firm uptrend after a slight decline a week earlier. The 380 HSFO Index has risen by 18.35 USD: from 411.95 USD/MT to 430.30 USD/MT. VLSFO Index has increased by 17.45 USD: from 516.90 USD/MT to 534.35 USD/MT, while MGO Index also has added 18.58 USD from 582.23 US....
Global maritime Hub
Published 3y-8mo-1w-6d-1h-54m ago
UK terminals are struggling to clear an excess of containers according to Container xChange amp 8217 s Container Availability Index CAx Post Brexit trade disruption and ongoing congestion are causing critical build ups of containers at UK ports, according to the latest data from Container xChange....
Global maritime Hub
Published 3y-8mo-1w-6d-7h-10m ago
Tightening detention rules would incentivise cargo owners to return their equipment faster, in turn helping resolving equipment shortages. Unfortunately, shipping lines do not provide consistent data on detention charges across the industry, and in some cases the data is very country and carrier spe....
Global maritime Hub
Published 3y-8mo-1w-6d-8h-42m ago
An unseasonable surge in cargo lifted the Port of Long Beach to its busiest February on record. Dockworkers and terminal operators moved 771,735 twenty foot equivalent units in February, a 43.3% uptick from the same month last year and marking the largest year over year increase for a single month i....
Global maritime Hub
Published 3y-8mo-1w-6d-8h-48m ago
The main driver for bunker prices this week is the decision of OPEC+ alliance according further oil production cuts. MABUX World Bunker Index has shown firm downtrend during the week. The 380 HSFO index has declined from 418.58 USD/MT to 411.01 USD/ MT 7.57 USD , VLSFO has lost 11.82 USD: from 527....
Global maritime Hub
Published 3y-8mo-2w-3d-1h-50m ago
Over the past few months, we have been heavily focused on the Transpacific and Asia Europe trades, and with good reason, given the size and current market dynamics on those trades. In issue 503 of the Sunday Spotlight, we shifted our focus a bit and looked at blank sailings on the Transatlantic trad....
Global maritime Hub
Published 3y-8mo-2w-6d-8h-33m ago
Container capacity from Asia to South America has steadily increased over the years. From Asia to the East Coast of South America ECSA , weekly allocated TEUs rose 30% between the February reporting periods in 2017 and 2021 as Brazil, South America’s largest economy, was rebounding from its reces....
Global maritime Hub
Published 3y-8mo-3w-1d-8h-24m ago
Bunker prices weekly outlook: oil prices spiked to 13 month highs after the Texas Freeze, which knocked out as much as 4 million bpd of U.S. oil production and 6 million bpd of refining capacity. The production outages have created a tighter supply situation that has been absent for most of the pand....
Global maritime Hub
Published 3y-8mo-3w-6d-2h-8m ago
The Container Availability Index CAx crunches data together from all around the globe to allow companies to monitor the overall equipment situation. Companies can then find out whether shipping costs are in fact increasing or decreasing to make more informed decisions when it comes to leasing and ....
Global maritime Hub
Published 3y-8mo-3w-6d-8h-46m ago
China’s leading ports tightened their grip at the head of the global rankings in 2020, with the country’s ports now occupying five of the top six positions. With booming Transpacific trade volumes, Qingdao moved up to sixth place during the year. While number one Shanghai pulled further ahead of....
Global maritime Hub
Published 3y-9mo-1d-20h-21m ago
Demand on the Asia to U.S. West Coast trade is showing no sign of letting up at a time when shippers are now having to worry about renegotiating their annual contracts. Spot rates from Asia to the U.S. West Coast continue to climb, with Drewry’s World Container Index showing a reading of $4,348 pe....
Global maritime Hub
Published 3y-9mo-1d-20h-40m ago
Maersk has accelerated its decarbonization drive by announcing it will operate the world’s first carbon neutral liner by 2023, 7 years ahead of schedule Really great news for a hard to abate sector! . Maersk is also making a commitment for future newbuilds! From a press release: “All future Mae....
Global maritime Hub
Published 3y-9mo-6d-2h-35m ago
Global oil and fuel prices are picking up as demand returns to pre pandemic levels amid easing coronavirus lockdowns in key countries like China and India and signs of increasing road travel in several countries. MABUX World Bunker Index has shown firm uptrend during the week. The 380 HSFO index has....
Global maritime Hub
Published 3y-9mo-6d-2h-48m ago
Container carriers are slated to cancel sailings on several major services that call North Europe, largely as a result of congestion, while ports and terminals in the region are taking measures to ease supply chain bottlenecks. The 2M Alliance for instance has announced several missed sailings from ....
Global maritime Hub
Published 3y-9mo-1w-4d-20h-57m ago
2020 has been another year of solid progress for A.P. Moller amp 8211 Maersk, both in terms of financial performance and in transforming the company. Despite low volumes during most of 2020, profitability grew throughout the first nine months and ended the year with record Q4 results in Logistics....
Global maritime Hub
Published 3y-9mo-1w-6d-3h-8m ago
The firm upward trend on global bunker market continues. As a result, MABUX World Bunker Index has been rising during the week. The 380 HSFO index has risen from 376.32 USD/MT to 387.67 USD/ MT +11.35 USD , VLSFO has added 22.10 USD: from 476.90 USD/MT to 499.00 USD/MT while MGO has gained 19.86 US....
Global maritime Hub
Published 3y-9mo-1w-6d-3h-53m ago
It is easy for government contractors to overlook opportunities related to ports in the United States. That should not happen though because ports throughout the country have seen a surge in imports over the last several years, and many of them – undaunted by the pandemic – are launching project....
Global maritime Hub
Published 3y-9mo-2w-21h-40m ago
The liner shipping industry is facing unforeseen heavy port congestion amp 38 vessel delays worldwide. The situation is adding to the severe lack of tonnage forcing carriers to blank sailings from China just at the time when these sailings could be generating record revenues. The twin US ports of....
Global maritime Hub
Published 3y-9mo-2w-2d-5h-17m ago
MABUX World Bunker Index demonstrated firm upward evolution over a week following the rise on oil prices globally. The 380 HSFO index rose from 365.37 USD/MT to 376.15 USD/ MT +10.78 USD , VLSFO added 15.56 USD: from 460.94 USD/MT to 476.50 USD/MT while MGO gained 12.79 USD and rose from 516.85 USD....
Global maritime Hub
Published 3y-9mo-2w-6d-4h-29m ago
The Asia to Europe trade including the Mediterranean is expected to experience many blanked sailings in the coming weeks, despite demand holding strong. Drewry’s World Container Index WCI shows that as of Thursday, spot container rates from Shanghai to Rotterdam stood at $8,740 per FEU, up 322....
Global maritime Hub
Published 3y-9mo-2w-6d-6h-44m ago
Post COVID 19, the major carriers are using the revenue generated from the booming container freight market to pay off debt and improve capital structures. No major acquisitions have been carried out to date, with M amp 38 A activity mainly taking place in the logistics segment. Although newbuildin....
Global maritime Hub
Published 3y-9mo-2w-6d-6h-52m ago
Already under pressure from Covid 19 outbreaks, congestion and labour supply issues, the Port of Los Angeles is also now suffering box shortages, according to the Container Availability Index CAx Container xChange amp 8211 February 2, 2021 After struggling to cope with excess containers for muc....
Global maritime Hub
Published 3y-9mo-2w-6d-6h-56m ago
The World Bunker Index MABUX was steady over a week with no real firm trend. The 380 HSFO index rose slightly from 365.63 USD/MT to 365.92 USD/ MT +0.29 USD , VLSFO added only 1.43 USD: from 460.00 USD/MT to 461.43 USD/MT while MGO gained 2.59 USD and changed from 515.42 USD/MT up to 518.01 USD/MT.....
Global maritime Hub
Published 3y-9mo-3w-6d-1h-48m ago
Imports seen during 2020 appear to be headed toward a new record despite the coronavirus pandemic, and remain at high levels as 2021 begins, according to the monthly Global Port Tracker report released today by the National Retail Federation and Hackett Associates. “Nobody would have thought last ....
Global maritime Hub
Published 3y-9mo-3w-6d-6h-55m ago
Chinese New Year amp 8211 End to Equipment Shortage in Sight After a bumpy 2020, an end to the equipment shortage is in sight. A positive trend of the Container Availability Index, with values of 0.34 for 20DCs and 0.37 for 40DCS, could make Chinese New Year the turning point. Container xChange ....
Global maritime Hub
Published 3y-9mo-4w-3h-42m ago
Drewry’s container port throughput index contracted by 2.4% 3.4 points to 136.1 points in November 2020, a milder seasonal contraction compared to recent years. The index was more than 6 points 4.7% higher than in November 2019, driven by strong growth in China and North America. After reachin....
Global maritime Hub
Published 3y-9mo-4w-1d-8h-51m ago
Congestion causes containerships to anchor outside SoCal ports Port congestion remains a lingering issue for the ports of Los Angeles and Long Beach as imports from Asia continue to remain strong. Looking at just a snapshot of the port congestion in the San Pedro Bay area, between 8:00 a.m. 12:00 p.....
Global maritime Hub
Published 3y-10mo-2d-3h-39m ago
The port managed to handle 36.9 million TEUs in 2020, down only 0.9% from the 37.2 million TEUs it handled in 2019, the Maritime and Port Authority of Singapore MPA Singapore revealed this week. Although the port’s overall cargo throughput in terms of tonnage dropped 5.8% year over year to 590.3....
Global maritime Hub
Published 3y-10mo-3d-3h-13m ago
The COVID 19 pandemic’s spread is taking center stage again and markets are getting increasingly worried about the long duration of European lockdown and about the new restrictions in China. Border closures, social distancing measures and shutdowns will continue to constrain fuel demand until vacc....
Global maritime Hub
Published 3y-10mo-3d-3h-49m ago
Liner operators are finding it increasingly hard to change or enhance services due to a lack of Very Large Container Ships. The huge cargo demand in China requiring extra sailings and port congestion have rendered smooth cascadings of vessels impossible. The few blank sailings that have recently b....
Global maritime Hub
Published 3y-10mo-4d-1h ago
Let’s start with the bad news first: Container availability was at record lows at the end of December 2020 in Shanghai basically across China . With a minus of 50% compared to the same period in 2019, availability for 4ßDCS was only at 0.13 indicating a strong deficit. For 40HCs it was similar w....
Global maritime Hub
Published 3y-10mo-4d-1h-5m ago
Essential workers at the Port of Long Beach moved more than 8.1 million cargo container units in 2020, setting a record in the face of economic uncertainty due to the COVID 19 pandemic and the ongoing trade war with China. The Port ended 2020, its busiest year on record, with 8,113,315 twenty foot e....
Global maritime Hub
Published 3y-10mo-6d-7h-3m ago
During the first two weeks of 2021, world bunker indices continued their moderate upward trend. Meantime, the most critical unknowns for the bunker market are still the coronavirus pandemic, the rate and effectiveness of vaccinations that have begun around the world, and how quickly this process wil....
Global maritime Hub
Published 3y-10mo-1w-3d-2h-51m ago
The first Shanghai Containerized Freight Index SCFI published this year by the Shanghai Shipping Exchange stands at 2,870.34 points which is another all time high. Spot rates are expected to continue their rise in the coming weeks as carriers continue to struggle with a shortage of ships and 40’....
Global maritime Hub
Published 3y-10mo-1w-3d-6h-13m ago
Container equipment availability is very low across Asian main ports – and also below last year’s levels. An index of 0.5 describes a balanced market, below 0.5 a shortage of containers. Chart: Example Container Availability Index CAx for 40HC in Shanghai 2020 vs. 2019 Historically equipment....
Global maritime Hub
Published 3y-10mo-1w-3d-6h-22m ago
Maersk has extended its sustainability support of German rail customers with a new CapO2 free intermodal transports solution, which is now available on 85% of its German inland rail services. This local and cost neutral solution reduces CO emissions to zero and saves around 9.100 tons of CO annual....
Global maritime Hub
Published 3y-10mo-1w-4d-8h-27m ago
Global Bunker Market faced some historically significant challenges last year, it started with IMO2020, the greatest change in fuel regulation in this century, with lot of expectations and contradictory predictions. However, the appearance of the so called “Joker factor” amp 8211 COVID 19 am....
Global maritime Hub
Published 3y-10mo-2w-2d-23h-21m ago
The Drewry Multipurpose Time Charter Index increased to $6,289 per day in December, representing a rise of 3.5% compared to the previous month. Over the year to December Drewry’s index is down 3.3%. Drewry expects the index to rise a further 1.4% in January to reach $6,375 per day. Rates rose in a....
Global maritime Hub
Published 3y-10mo-2w-3d-3h-25m ago
Drewry’s composite World Container index increased 19.8% to $5,220.99 per 40ft container updated Thursday, 7 January 2021 . The chart shows a two year spot freight rate trend for the World Container Index Follow on Twitter:
The post World Container Index 07 Jan first appeared on Global Maritime....
Global maritime Hub
Published 3y-10mo-2w-3d-8h-19m ago
The global container fleet grew 2.9% in 2020, the lowest rate since 2016, further helping carriers in what was a tumultuous year. Teu capacity reached 23.9 Mteu as of 1 January 2021, compared with 23.2 Mteu a year earlier. The capacity increase falls below predictions made at the start of the year ....
Global maritime Hub
Published 3y-10mo-2w-3d-23h-47m ago
