USEC port strike is over; ILA, USMX reach tentative agreement
The port workers’ strike on the United States East Coast comes to an end after the agreement between the International Longshoremen’s Association (ILA) and the United States Maritime Alliance (USMX). The two bodies have reached a tentative agreement on wages and have agreed to extend the Master Contract until 15 January 2025. In January, they […]
Hapag-Lloyd introduces low water surcharge from North Europe & Med to Canada
Hapag-Lloyd will implement a low water surcharge from North Europe and Mediterranean to Canada, effective from 14 October. “The water levels in the St. Lawrence River have significantly dropped, and the Canadian Coast Guard has forecasted further reductions in the coming weeks,” noted the German carrier. In response to these conditions, Hapag-Lloyd will introduce a […]
CMA CGM applies fresh rates for Canada-Asia shipments
French ocean carrier CMA CGM has announced a new Rate Restoration Initiative (RRI) that will take effect on 1 November 2024. This adjustment will impact cargo shipments from specific locations in Canada to destinations in the Indian Subcontinent, Middle East Gulf, Red Sea, China, Hong Kong & Macau SAR, and across North and Southeast Asia. […]
Red Sea crisis to prevent freight rates from dropping to 2023 levels, with uncertainty expected post-2025
The Export-Import Bank of Korea’s (KEXIM) Economic Research Institute has published a report stating that while container freight rates have come down from the highs of this year, they are not expected to plunge to levels seen in 2023, as the Red Sea crisis will maintain the supply-demand equilibrium. This content is locked Select […]
Hapag-Lloyd increases rates from Asia to Latin America
German box line Hapag-Lloyd has announced that on 1 November a General Rate Increase (GRI) is set to take effect on cargo shipments from Asia to the West Coast of South America, Mexico, Central America, and the Caribbean. This increase of US$2,000 will apply to all shipments using 20-foot and 40-foot dry containers, including high […]
Kuehne+Nagel opens new distribution centre for LEGO Group in Australia
The LEGO Group, the world’s largest toy company, has expanded its partnership with Kuehne+Nagel by launching a new distribution centre in Truganina, located in Victoria, southeastern Australia. Covering 26,500 square meters and capable of storing 26,000 pallets, the facility will support both B2C and B2B operations for LEGO customers across Australia and New Zealand. The […]
Wärtsilä to provide fuel and cargo handling systems for new VLEC vessels
Technology group Wärtsilä will supply the Cargo Handling and Fuel Gas Supply systems for five new Very Large Ethane Carrier (VLEC) vessels. The order has been placed by Jiangnan Shipyard, was booked by Wärtsilä in the third quarter of the year, while the ships are being built for Chinese owners. Additionally, the delivery of the […]
Gulftainer strengthens ties with South China’s freight forwarders
Global port operator Gulftainer met with key traders and freight forwarders in Shenzhen on 22 September 2024, during the China (Shenzhen) International Logistics and Supply Chain Fair (CILF). Attendees included the Shenzhen International Freight Forwarders Association members and the Qingdao Logistics Network. “Gulftainer has extensive experience working closely with trading and freight forwarding companies,” stated […]
Maersk banks on Jordan’s resilience with Aqaba terminal concession extension
The Aqaba Container Terminal’s concession extension by APM Terminals until 2046 marks a significant endorsement of Jordan’s strategic geographic position close to conflict zones. This development underscores the Maersk-owned port operating company’s confidence in Jordan despite regional instabilities impacting the Red Sea. This content is locked Select a CN Premium Subscription Package To Unlock The […]
KEZAD Group launches new media company
KEZAD Group, a subsidiary of AD Ports Group and the UAE’s largest operator of integrated economic zones, has announced the launch of a new business initiative focused on the media sector. The new entity, KZ Media, is designed as a full-service media provider offering a wide range of photography and videography solutions to meet client […]