Saving the Panama Canal Will Take Years and Cost Billions, If It’s Even Possible
The vestiges of an ancient forest tell the story of just how bad things are at the drought-stricken Panama Canal.
Airfreight Rates Bounce Back to 50% Above Pre-COVID Levels
Preliminary figures for week 50 (December 11 to 17) indicate that global tonnages and average worldwide rates were stable compared with the previous week, after recovering more quickly than last year from the seasonal post-Thanksgiving dip last month, based on the more than 400,000 weekly transactions covered by WorldACD’s data.
Houthi Red Sea Attacks Show No Sign of Abating, U.S. Admiral Says
The U.S.-led force in the Red Sea has shot down 19 drones and missiles launched by the Iranian-backed Houthis in Yemen in less than a month, but there’s no sign that the militants are backing off, the commander of U.S. Navy forces in the Middle East said.
Threat to Ships Expands into Arabian Sea
The attempted hijack of a Liberia-flagged bulk carrier in the Arabian Sea on January 4 has raised navigational safety concerns already confronting the container shipping industry around Red Sea/Suez Canal routings.
Repercussions of Red Sea Turmoil Mount as Box Rates Jump 60% in One Week
Spot freight rates are the leading indicator of the mounting repercussions from ongoing disruptions to the shipping industry due to security problems in the Red Sea. With the attacks continuing, nearly 20 major carriers have reported that they are rerouting vessels, adding to travel time and expense, which is quickly being reflected in the spot […]
More Investment Needed to Meet Electric Truck Charging Requirements
Canada’s ambitious timelines to decarbonize the nation’s medium- and heavy-duty trucks is achievable, but will require the fast deployment of charging infrastructure and much more investment than has been allocated to date.
Global Trade to Contract by 5% in 2023, UN Body Says
Global trade is set to contract by 5% in 2023 compared with last year, the United Nations trade body said on Monday, with an overall pessimistic forecast for 2024.
Air Cargo Market: From ‘Doom Mongering’ to Stability
The air cargo market is experiencing an unexpected bounce during the traditional peak shipping season to end the year, fueled by e-commerce exports from China, but revenues for air logistics companies could be lower even if strengthening demand carries over into 2024, according to industry experts.
2024 CIFFA STCs
The CIFFA STC’s outline the responsibilities of a service provider and its customer and their respective accountabilities. This document will be revised in January 2024, to reflect and protect the interests of our members.
Panama Canal Reverses Cuts in Daily Transits and Adjusts Reservations
The Panama Canal Authority is delaying some of the scheduled reductions in daily transits that it was planning to implement starting next month due to slight improvements in the reservoir’s water levels and, at the same time, further adjusting its system for reservations. The changes come as good news for the shipping industry, which is […]