Spiralling ocean container shipping market set to peak, but will not bring an end to shippers’ problems
15 Jul 2024 | by MHW Magazine Team | News, Supply Chain The dramatic spike in the ocean freight container shipping market is reaching its peak as importers push back against spiralling spot rates. Data released by Xeneta today, Monday, shows average spot rates from the Far East to US East Coast increased by 3.7% on 15 July to […]
CMA CGM Vessel Loses 44 Containers Overboard in South African Storms
The article first appeared in The Maritime Executive Heavy seas and strong winds are continuing to batter shipping along the South African coast and the massive containerships on route to sail the Cape of Good Hope due to Red Sea diversions. CMA CGM is reporting that one of its vessels, CMA CGM Benjamin Franklin (185,000 […]
Pause in Transpacific rate surge
Date 15th July Article at Container News Transpacific freight rates have corrected after rising for more than three months, as capacity additions have begun making an impact. When the Shanghai Containerised Freight Index (SCFI) closed on 12 July, the Shanghai-US West Coast rate averaged US$7,645/FEU, down US$458 the previous week. The Shanghai-US East Coast rate decreased by a […]
