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As the Pacific Ocean continues to fill up with container ships, rough weather conditions and human error have led to a rise in accidents at sea involving these vessels. According to Freight [...]
The more stuff people buy, the more ships ply the Pacific Ocean loaded to the brim with containers. Combine rough weather, the occasional human error and way more chances to get it wrong, and you inevitably get more accidents at sea. A record number of containers fell overboard from ships into the Pacific last winter, ...
There was fleeting hope that Southern California port congestion had turned the corner. The number of container ships waiting offshore dipped to the low 60s and high 50s from a record high of 73 on Sept. 19, trans-Pacific spot rates plateaued, the Biden administration unveiled aspirations for 24/7 port ops, and electricity shortages curbed Chinese ...
Trans-Pacific spot container rates have plateaued and in some cases pulled back, spurring speculation that container investors’ bull run has peaked and relief is on the way for U.S. importers. The case for calling the top: Chinese container port congestion has dramatically declined over recent weeks, Chinese factories are being plagued by power outages that ...
Commodity prices are surging around the globe, so it should come as no surprise: Marine fuel is getting a lot more expensive. That’s bad news for ship operators on the cost side, and, in the container business, yet another headache for cargo shippers. Marine bunker prices are “soaring,” said Alphatanker on Thursday. “This has not ...