Container xChange Global Forecaster – February 2024

Container Rates Surge Amid the Red Sea Crisis• Average container trading prices surge by up to 60% in January’24• Container leasing rates Ex China rise by up to 323%• Supply Chain professionals expect Container prices to surge further in February: xCPSI (Container Price Sentiment Index by Container xChange) In response to the escalating Red Sea […]

Will the Year of the Dragon spring some surprises?

So where is the market headed to this year? Sorry to disappoint you but we will not be answering this question. Instead we will look at four topics with two of them likely to have an impact on the shipping market and two highly unlikely to have any. These four topics are a financial crisis, […]

Maersk sets new bar with shipping’s first climate target validation

AP Moller-Maersk has achieved another industry first, having validated its decarbonisation targets to be in line with the Paris Agreement’s goal to hold the global average temperature increase at 1.5C above pre-industrial levels. The Danish shipping and logistics group has seen its goals verified by the Science Based Targets initiative (SBTi) – a group that […]

HMM privatisation process collapses

The long planned privatisation plans for South Korea’s flagship carrier lie in ruin today. Harim Group, whose bid with a local private equity firm had been the one selected by state banks, announced in a stock market release that it was pulling out of the deal to take HMM private. “Negotiations were conducted on the […]

Red Sea Chaos Causing Global Oil Buyers to Shop Local

The global oil market is looking increasingly local as militant attacks in the Red Sea and surging freight rates make supplies from closer to home more attractive. A slump in tanker traffic through the Suez Canal is spurring the beginnings of a split, with one trading region centered around the Atlantic Basin and including the […]

Red Sea, Black Sea and Panama Canal: UNCTAD raises alarm on global trade disruptions

The UN’s trade and development body, UNCTAD, has raised profound concerns over escalating disruptions to global trade. It says that recent attacks on ships in the Red Sea, combined with geopolitical tensions affecting shipping in the Black Sea and the impacts of climate change on the Panama Canal, have given rise to a complex crisis […]

GB Railfreight launches East Coast intermodal service

Britain’s East Coast Main Line is best known for its express passenger services and as the route of the Flying Scotsman. It’s also a critical freight corridor. From this week, there’s a new service sharing those tracks. It may not be quite as prestigious as the famous express, but the destination is the birthplace of […]

IATA Releases 2024 Cargo and Ground Handling Manuals with Updated Industry Standards

The International Air Transport Association (IATA) has completed the annual revision of its industry manuals for cargo and ground handling operations, incorporating the latest changes and revisions made to many of the underlying industry standards, as well as any State and operator variations. These reflect the sector’s ongoing commitment to further improving safety, introducing more […]

Over 500 new air service agreements signed

The International Civil Aviation Organization (ICAO) is announcing today that 521 new international air service agreements have resulted from its most recent Air Services Negotiation (ICAN) event, which was attended by over 700 participants representing 97 countries. These represent record-breaking outcomes for this edition of the annual meeting, which was generously hosted by the General […]