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Terminal de Contenedores de Buenaventura (TCBUEN)
A group of shipping companies has suspended operations at the Port of Buenaventura as the port is full and cargoes are trapped.
The situation is the result of ongoing road blockades in Colombia, including in the maritime precinct.
According to Colombian media, Transborder, C.H. Robinson Worldwide, Maersk, Mediterranean Shipping Company (MSC), CMA CGM, EMC, Cosco Shipping, Evergreen, Hamburg Sud, and other companies have suspended operations.
Local authorities reported that the five main terminals of Buenaventura were holding back 540,000 tonnes of cargo because bulk storage capacity was at 90%, while container storage capacity was at 80%.
Despite the success of Cosco Shipping’s concession to manage the PPA relations between the Greek state and the Chinese shipping giant have become strained.
Shippers are bracing for a further broadside of rate increases in June across multiple trades, as ocean carriers beef up profits ahead of the peak season.
After a period of stability, following hikes of up to 200% in the second half of last year, transpacific carriers are rolling out a raft of new GRIs, effective 1 June.
For example, Hapag-Lloyd is advising its Asia to North America rates will rise by $1,200 per 40ft.
Meanwhile, today’s Freightos Baltic Index (FBX) readings for Asia to the US are flat, at $4,840 per 40ft for the west coast and $6,236 per 40ft for the east coast.
Greece’s Foreign Affairs Secretary General and President of the Ministry’s export agency, Enterprise Greece, Ioannis Smyrlis, addressing the ‘China and Greece: The New Silk Road’ forum cited Cosco’s key investment at the port of Piraeus, the founding of a Bank of China branch in Athens, and the Belt and Road Initiative itself as examples of the ongoing collaboration with China.
Enterprise Greece facilitates bilateral trade and investments in several sectors, including tourism, real estate, agriculture and food, transport and energy, among others.
Despite the impact of Covid-19 and the negative effects it had on the financial results on some business units, like the cruise, ferry and car terminal, the Cosco Shipping managed Piraeus Port Authority (PPA) in a briefing to the Hellenic Fund and Asset Management Association said it achieved the uninterrupted continuation of port activities in conditions of safety, without placing any employee on temporary suspension.