PSP Worldwide Logistics London Sea Archives - Page 2 of 10

Ex-Asia capacity is tightening

Demand for sea freight has been spiking through the end of April and beginning of May and the availability of container equipment in Asia is increasingly tight, which is why we recommend booking as soon as possible to secure space.…

Market review; 25th April

The UK and Euro area economies moved back into expansion territory at the end of the first quarter, with manufacturing growing for a third successive month and new orders (PMI) accelerating to seven-month highs, with 2024 global GDP forecasts revised…

Cargo owners may face bill for Baltimore bridge collision

Shippers with cargo aboard the Dali face significant financial risks if, as looks increasingly likely, the shipowner declares “general average” due to the huge losses caused by the accident. General average refers to a legal principle in maritime law under…

Maersk vessel collapses Baltimore bridge

At 05:30 GMT this morning a 10,000 TEU vessel operated by Maersk collided with the Francis Scott Key Bridge in Baltimore, sending a significant section of the bridge into the Patapsco River with at least six people unaccounted for and…

Market review; 14th March

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…

OCEAN Alliance quell rumours

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…

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…

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…