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Pandemic Propels Makeover at Shipping Giant Maersk

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Maersk is accelerating its plan to transform itself from a container shipping giant into an integrated logistics company following its strong performance during the pandemic, Chief Executive Soren Skou said on Tuesday.Maersk, which handles one in five containers shipped worldwide, aims to expand its land-based logistics services,

DCT Gdańsk Baltic Hub 3 Project: Invitation for Prequalification

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DCT Gdańsk S.A. has started a prequalification process to tender for the Baltic Hub 3 Project. DCT invites firms and joint ventures to prequalify to tender for Baltic Hub 3 General Contractor. The project in-cludes:Site establishment and demolition of existing disused Terminal T1 marine structures;Construction

China Posts Rapid Trade Growth in April

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China extended its impressive trade performance in April, with exports unexpectedly accelerating and import growth hitting a decade high, in a boost to the world’s second-largest economy.A brisk U.S. economic recovery and stalled factory production in other countries hit by coronavirus have propped up demand for goods made in China, analysts say.

US Trade Deficit Reaches Record High

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The U.S. trade deficit jumped to a record high in March amid roaring domestic demand, which is drawing in imports, and the gap could widen further as the nation's economic activity rebounds faster than its global rivals.Manufacturers lack the capacity to satisfy the surge in demand because of resource

How Event-driven Technologies Can Transform the Shipping Industry

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The Suez Canal blockage laid bare many of the challenges being faced by the global shipping industry today. With 12% of global trade passing through the canal each day, the total revenue lost from delayed, damaged or lost goods due to its blockage is estimated to be up to $10 billion. Many of the organizations

MSC Rolls Out Electronic Bill of Lading Globally

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MSC Mediterranean Shipping Company is introducing the electronic bill of lading (eBL) for its customers globally following a successful pilot phase of the independent blockchain platform.The eBL enables shippers and other supply chain stakeholders to receive and transmit the bill of lading document electronically,

U.S. Crude Oil Exports: When 'Less is More'

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Longer sailing distances cushion fall in US crude oil exportsTon mile demand generated by US crude oil exports has fallen by 9.7% in the first two months of 2021 compared with the start of 2020. The fall could however have been much worse; In volume terms, seaborne crude oil exports have fallen by 18.

BIMCO: U.S. Economic Stimulus Have Worked Magic for Container Shipping

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North American import of containerized goods from the Far East soared to a noteworthy high of 1.62m TEU during February 2021, a 100% increase from the low point of the same month last year. Fueled by US stimulus, volumes moving on the trans-pacific trade lane to consumers and businesses in North America

Ever Given Fiasco Illustrates Importance of the Shipping Container

(Photo: Suez Canal Authority)

Take a look around you.Perhaps you’re snacking on a banana, sipping some coffee or sitting in front of your computer and taking a break from work to read this article. Most likely, those goods—as well as your smartphone, refrigerator and virtually every other object in your home—were

Global Supply Lines Struggle to Clear Container Backlog After Suez Chaos

(Photo: Port of Rotterdam)

A backlog of container ships carrying consumer goods has grown in some key strategic ports after a near week-long blockage in the Suez Canal, adding to ongoing disruptions to global trade, industry sources say.Dozens of container ships were stuck when the 400-metre-long (430-yard) Ever Given ran aground in the canal on March 23,

Suez Crisis Adds to Pandemic Supply Worries

(Photo: BlackSky)

A stranded container ship blocking the Suez Canal threatens to make it even more difficult for European and U.S. retailers to keep products in stock during the coronavirus pandemic.The Suez Canal saga that began on Tuesday and could go on for weeks, is just the latest crisis to strike the global supply

'Every Ship That is Available is Sailing,' Says Hapag-Lloyd CEO

Photo: Hapag-Lloyd

With historically high freight rates, fleet utilization and demand, there is no end in sight for the red-hot containership market.Container shipping giant Hapag-Lloyd CEO Rolf Habben Jansen candidly said “nobody saw this coming” as “we’ve seen a spending shift from services to goods”,

Some Containerships Sent North as Port of Los Angeles Hits Capacity

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The Port of Los Angeles and cargo shipping lines are diverting some ships to other West Coast ports as a six-month import surge strains capacity at the busiest gateway for ocean trade in the United States.Container lines such as Hapag Lloyd and CMA CGM are temporarily diverting some sailings to Oakland

Maersk Boosted by Trade Recovery, But Misses Forecasts

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A surge in demand for goods like furniture and exercise equipment from locked-down consumers has sparked a jump in shipping rates, boosting profits for Danish freight giant Maersk, the company said on Wednesday.Yet shares in the world’s largest container shipping line fell as much as 8% as it missed

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