Global Trade Gains Push Air Cargo Rates Higher: TAC Index
Global air freight prices edged a little higher again, according to the latest data from TAC Index. The overall Baltic Air Freight Index calculated by TAC was up 2.1 percent for the week to May 6, leaving it now close to flat at -2.2 percent over the last 12 months.
Houthis Continue Targeting MSC Vessels, Claiming Four New Attacks
The Houthi militants continue the targeting of MSC Mediterranean Shipping Company vessels, with the repeated assertion that they are “Israeli ships.” MSC vessels have been among the most frequently targeted ships by the militants and, in a new statement from their spokesperson Yahya Saree, they are claiming to have fired on three ships a total […]
A ‘Carrier-Controlled Market’ as Spot Rates Rise and Capacity Tightens
“You take away all sense and rationale. And whatever is left, is the container shipping market,” said Peter Sand, Xeneta’s chief analyst, on Friday.
Maersk Warns Red Sea Impact Widens, Creating Capacity Constraints and Costs
The largest container carriers are warning customers of increased disruptions and costs after the Houthis widened their attacks further into the Indian Ocean and have threatened to further expand the attacks. Both Maersk and Hapag-Lloyd said they will be further diverting ships, with Maersk raising its surcharges as it warns of increased costs and capacity […]
Don’t Chase That Final Dollar: Warning to Shippers Delaying Signing New Contracts
Shippers delaying signing long-term contracts in the belief that the market could soften in their favour have been warned by Xeneta’s chief analyst, Peter Sand, not to “chase the final dollar.”
Airfreight Contracts Begin to Reflect Threat of a Q4 Capacity Crunch
“Capacity will be king in Q4,” said one forwarder at the recent CNS Partnership event in Dallas – that is now becoming clear in the data and shipper airfreight contracts, according to Xeneta.
Hundreds of Semi Trucks Drive Across Metro Vancouver Sunday to Protest Industry Changes
Hundreds of semi truck drivers drove across Metro Vancouver Sunday afternoon to show solidarity between company owners and drivers over proposed changes to the drayage industry.
Houthis Escalate Threats Against Shipping, Launching “Fourth Stage”
The leader of the Houthi movement called for a further escalation of the attacks on shipping, citing the potential attack on the city of Rafah and as Western pressure grows on Hamas to accept the terms of a proposed ceasefire.
Minister of Labour Wants Deal “Done at the Table” to Avoid CN, CPKC Strikes
Canada’s Minister of Labour, Seamus O’Regan, wants the unions and the railways to reach a deal through negotiation without resorting to a strike or lockout.
Consortium Aims to Decarbonize Transpacific Shipping
A new industry group, the North Pacific Green Corridor Consortium (NPGCC), has been formed to work on decarbonizing commodities transportation routes between North America and Asia.