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The global economy is shaped by current events. What are the top stories from international trade lately? Keep reading to find out. Top stories from international trade 1. Supply chains back on track The supply chain is on its way to being “normal.” Ship queues in ports are getting shorter, timely delivery is improved, and …
2020 and 2021 were the most profitable two years in shipping history. Seeing the astronomical profits, shipowners decided to order many new vessels. Therefore, we can expect a lot of new container ships in 2023 and 2024 out at sea. New container ships Even though we recently experienced a slump in container freight rates, we …
Ocean shipping rates in the spot market have plunged by even 75% in 2022, some of them even below contract rates. Queues of cargo vessels off the coasts of China and the US have shortened dramatically. Shipping cost is down, but will this trend continue? What is freight rate in shipping? What is the freight …
Boundary Layer Technologies (BLT) introduced a liquid hydrogen-powered fast vessel. Shipping by this high-speed hydrofoil, Argo, will be twice as cheap as air freight. Will the Argo hydrofoil become an alternative to air freight? Argo hydrofoil as an alternative for air freight Boundary Layer Technologies is a California-based start-up specializing in marine technology. The BLT …
The Boten–Vientiane railway, also known as the China–Laos railway, was opened on the 3rd of December 2021. It is an integral section of the central line on the Kunming–Singapore railway. It was constructed as part of the Belt and Road Initiative. The China-Laos Railway ships over 1 m tons of cross-border goods in just over …
Kuwaiti Agility Company finalized its acquisition of UK-based John Menzies at approximately £763 million. The integrated company will operate as Menzies Aviation and be the world’s largest aviation services company by number of countries and the second largest by number of airports served. It is an opportunity to establish a stronger and more resilient entity …
According to Container xChange’s Demurrage & Detention Benchmark 2022 report, US ports are the world’s most expensive ports in terms of demurrage and detention charges levied by container lines on customers. World’s most expensive ports Container xChange is a platform based in Germany. It helps to lease, buy, and sell containers. The company released a …
The Ever Alot ultra large container vessel is the largest container ship in the world to date. The subsidiary of China State Shipbuilding Corporation (CSSC), Hudong-Zhonghua Shipbuilding, was responsible for designing and assembling the containership. The ship’s capacity is over 24,000 TEU, the first container ship to surpass the mark. Biggest containerships in the world …
Maersk is one of the largest shipowners in the world. It has been investing in land transport for years and has recently expanded its air freight services. Maersk Air Cargo is set to triple its capacity over the next few years, expanding its global network of connections. How can one of the main shipowners become …
Ever Forward, a ship of Taiwan shipowner Evergreen, ran aground in the Chesapeake Bay on March 13. The container ship Ever Forward was refloated after a few weeks when the conditions were most favorable, with the help of a full moon and a high spring tide. Ever Forward refloated The Ever Forward container ship, over …