Falling consumer demand amid rising inflation in Brazil and the launch of a new service that has added capacity have conspired to push rates from Asia to the East Coast of South America to their lowest level in about 18 months.
project44 is aiming to provide non-traditional customers, like small shippers, consultants, and financial institutions with a high-level port congestion dashboard.
Sustained demand on the trans-Pacific and limited capacity is pushing forwarders such as Kuehne + Nagel to lock in long-term air cargo charter commitments.
Brazilian shippers continue to face challenges with virtually no reefer containers available for spot cargoes and driver shortages affecting onward shipments from US ports.
Traxens has received a cash infusion from its existing investors, a shot in the arm that enabled the Marseilles-based container tracking provider to acquire French competitor NEXT4.
Even a slight recovery in auto production means shippers should brace for the reality that already tight vessel capacity will become even scarcer, ro/ro carriers warn.
There will be an enormous gap in the price between zero-emission fuel and conventional marine fuel over the next 20 years – something that needs to be addressed, according to a report from the Getting to Zero Coalition.
A $60 million funding round into LatAm forwarder Nowports continues a trend of late-2021 cash infusions into early-stage logistics startups by big-name investors, including Tiger Global and SoftBank.
HMM India officials said the carrier plans to use a fleet of eight to 12 vessels with an average capacity of 5,000 TEU on its new service linking the Indian port of Kattupalli with the Far East and Latin America.