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Ocean freight rates continue to decline along the major trade routes, according to Freightos Baltic Index. Asia-US West Coast prices (FBX01 Weekly) fell 4% to $4,244/FEU. Asia-US East Coast prices (FBX03 Weekly) fell 4% to $5,875/FEU. Asia-N. Europe prices (FBX11 Weekly) fell 10% to $3,871/FEU. Asia-Mediterranean prices (FBX13 Weekly) fell 7% to $4,155/FEU.   Market […]

Xeneta’s latest weekly market analysis shows that air cargo demand experienced a second consecutive month of surprising growth in February.   Global air cargo traffic rose over 10% month-over-month, the report added.    February’s double-digit growth comes as IATA reported an 18.4 increase in air cargo demand in January.    “It’s a surprising start to

The spot rates for global container shipping have been declining this week, according to Drewry’s World Container Index (WCI).   The index showed a 6% decrease to $3,287 per 40ft container on Thursday March 7.   Rates for 40ft containers from Shanghai to Rotterdam also dropped by 7% to $3,650.   Similarly, freight rates from

The International Air Transport Association (IATA) says the demand for global air cargo has shown a significant increase in January 2024.   Total demand, measured in cargo tonne-kilometers (CTKs*), increased by 18.4% compared to January 2023 levels (19.8% for international operations), IATA announced.   This is the highest annual growth in cargo tonne-kilometers (CTKs) for

Global schedule reliability and average delays have reached the lowest level in the past 15 months due to Red Sea disruptions which have resulted in carriers’ rerouting their cargo ships around the southern tip of Africa, according to a new analysis.   The analysis is conducted by Sea‑Intelligence, a leading provider of research and analysis

  CMA CGM, the French shipping company, has successfully finalized its largest-ever acquisition, a $5 billion takeover of Bollore Logistics.   The transfer of Bolloré Logistics Sweden AB to the CMA CGM Group is contingent upon the latter securing foreign investment clearance in Sweden, Bolloré reported on its website.   The agreed purchase price stands

A shipping group has offered safe passage to commercial ships navigating through the volatile Red Sea.   A deal has been struck between two countries in the Red Sea region, guaranteeing safe passage for a significant carrier, ShippingWatch reported today, Thursday Feb 29.   Oman-based Asyad shipping company, sends a letter to its customers and

The US Federal Maritime Commission (FMC) has established new regulations, limiting ocean carriers and marine terminal operators (MTOs) in imposing container demurrage and detention charges against shippers. The new Rule introduces new conditions for how carriers and MTOs must bill for container demurrage and detention charges, FMC has reported on its website. Demurrage: Fees charged

Since early February, global container spot rates have declined, signaling the end of strong pricing power seen in January, according to an analysis by Freightwaves. While the rates have not gone through a sharp decrease, the declines are, however, an indication that high prices experienced in January are coming to an end.  The Drewry World

Teamsters Canada has warned that workers at CN and CP are planning to strike as the talks between railroad companies and their union is stalled.   Teamsters Canada Rail Conference (TCRC), the union representing 9,300 workers at both CN and CP announced in a news release.   “Canadian railroads don’t care about supply chains, farmers,