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Sea freight spot rates ex-Asia to both North Europe and the Mediterranean have fallen again, prompting carriers into last-minute cancelled sailings, while they are being hit by a huge spike in fuel costs. Container shipping lines across the three alliances
Carriers have already been announcing additional blanked sailings in the weeks after the Golden Week holiday, suggesting that demand is expected to decrease in the weeks that would typically be in the Asia to Europe peak season. The latest Drewry
The government has extended the deadline for transitioning to the Customs Declaration Service (CDS) for exports to 30 March 2024, to ensure that businesses have ample time to transition to the CDS platform smoothly. The move to CDS will occur in
UK border checks on food, animal and plant products imported from the EU have been delayed for a fifth time, the government has confirmed, in a move welcomed by many trade bodies, but described by the NFU as “hugely frustrating”. Three
Container Trade Statistics (CTS) demand data has been released for June and even though demand measured in TEU Miles is essentially hovering around zero the collapse in demand appears to have halted, and while it may be at a low
The European Union is expanding its Emissions Trading System (ETS) and the shipping industry could be liable for €3.1bn in 2024, €5.7bn in 2025 and €8.4bn in 2026, with container shipping potentially accounting for 30% of overall emissions. As part of
While much has been made of the impact of the peak season from Asia on sea freight rates, arguably the line’s capacity management is a bigger driver, with rising rates to the US and attempts to recover revenue from Asia
Average spot rates from Asia to the US West Coast have increased 70% over the last two months, with the lines successfully implementing a series of rate increases, while rates from Asia to Northern Europe spiked last week by 25%,
With International Longshore and Warehouse Union members voting 75% in favour of the four-year agreement reached in Western Canada and the port of Halifax, Montreal is the last major container port to agree a new labor contract, as the federally
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