Asian Aframax freight rates reach over 2-year high on strong market fundamentals

Asian Aframax freight rates reach over 2-year high on strong market fundamentals The freight rate for hauling crude from Indonesia to Japan jumped to $24.76/mt on Aug. 1 — the highest since January 2020 — following a major shift in trade flows of various dirty petroleum products, tight supply of ships in Asia and elevated […]

Freight rates are starting to fall as shipping demand wavers

Freight rates are starting to fall as shipping demand wavers High-price freight contracts that were written when carrier capacity was tight and a rush to restock inventories was in full force are losing their shine as slowing demand and a wavering U.S. economy send shipping rates sliding. Some companies now are renegotiating shipping agreements they […]

First freight train from China’s Anhui province to Budapest launched

First freight train from China’s Anhui province to Budapest launched A freight train carrying 20 containers and cargo worth almost 10 million euros has left Hefei in China for Budapest. It is the first ever train cargo delivery of its kind between the two cities.  The trip will take 16 to 18 days, much quicker […]

Cyberattack on freight forwarder slows Clarus’ logistics

Cyberattack on freight forwarder slows Clarus’ logistics Dive Brief: Clarus’ ability to move and receive inventory has been slowed after one of its freight forwarders was victim to a cyberattack a few weeks prior to its March 8 earnings call, Executive Vice President and COO Aaron Kuehne said on the call. Due to the cyberattack, the […]

5 warehouse delivery challenges crowdsourcing helps solve

5 warehouse delivery challenges crowdsourcing helps solve Forecasting demand is an ongoing challenge for warehouses. Inventory isn’t always where it needs to be. And as a result, workers must often scramble to move goods to where they’re wanted, whether that’s by shipping same-day rush orders, replenishing a fast-selling product at a sales event, or transporting […]

Ukraine’s Factory Supply Lines; Shifting Energy Flows; Exporting Natural Gas

Ukraine’s Factory Supply Lines; Shifting Energy Flows; Exporting Natural Gas Ukraine’s factory owners are trying to overcome the enormous challenges of wartime to keep assembly lines and the besieged nation’s economy moving. In the city of Dnipro, Klim Tulin is keeping cardboard boxes moving out of a family-owned plant to local food producers even as the […]

Shanghai lockdown – severe impact on trucking, warehouses closed

Shanghai lockdown – severe impact on trucking, warehouses closed Expect a severe impact on trucking, closed warehouses and depots Maersk warns customers as Shanghai locks down in two phases over nine days. While the world’s largest container port remains operational landside logistics operations are feeling the impact of China’s latest lockdown that sees 25 million […]

China Merchants Port handles record volumes in 2021

China Merchants Port handles record volumes in 2021 China Merchants Port has posted new records for container and dry bulk cargo handling in 2021 amid supply chain disruption. In 2021, the company’s container port business delivered a throughput totalling 135m teu, up 12% year-on-year. Container volumes handled by its ports in mainland China, Hong Kong and Taiwan exceeded […]

Container freight contracts agreed at high levels despite spot rate easing

Container freight contracts agreed at high levels despite spot rate easing Despite some easing spot container freight rates major bottlenecks remain and Covid situation in China, as well as a possible US west coast labour dispute, are expected to keep rates relatively high through 2022. Speaking about the market Jeremy Nixon, CEO of Ocean Network […]