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Category: Sea

Freight market report; March 2024

Heading into the post Lunar New Year slack period sea freight spot rates retained most of their recent gains and while Drewry’s World Container Index dropped slightly in March it remains 80% higher than 2023 and 130% more than average…

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Far East alliance extended to 2032

Sending a clear message of stability, after Hapag Lloyd’s defection, the four remaining carriers in the OCEAN Alliance have formally agreed the continuation of their alliance until at least 31st March 2032. Founded in 2017 under a 10-year deal, the…

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Sea freight review

Global shipping schedule reliability dropped sharply in January due to the Red Sea impact, with just 51% of vessels arriving on time. Outside of the pandemic disruptions this is extremely low – pre-pandemic normality tended to be between 70-80%. Of…

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Shipping alliances may be ending

Maersk is joining with Hapag-Lloyd to form The Gemini Cooperation, in a move that will shake up the East-West container shipping market, with changes likely to last into the early 2030’s. Since announcing the breakup of its 2M Alliance with…

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US and Europe sea freight rates from Asia in trend

In a clearly defined link, sea freight spot rates from Asia to the US trade are peaking two weeks after spot rates to Europe reached their peak, as the scramble for capacity ahead of Lunar new Year subsided. That fortnight…

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Red Sea situation latest @ 1st February 2024

The Houthi rebel attacks against commercial shipping in the Bab al-Mandab Strait approach to the Suez Canal, that began in December 2023, shows no sign of ending and all major container shipping lines are taking the 3,500 mile diversion around the Cape of…

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Red Sea crisis; supply chain update 17th January 2024

Houthi rebels in Yemen continue to attack commercial shipping, with a rocket attack on a Greek-owned vessel and a US-owned bulk carriers in the last two days and with container shipping line’ schedules showing Cape of Good Hope routing for…

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3rd January; Suez Canal crisis latest

The new year back in the office has started with the shock of the double-attack on the Maersk Hangzhou on Sunday, which came despite the formation of a coalition naval task force to patrol the southern Red Sea and Gulf…

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