Page 28 - Simon Heaney News Today : Breaking News, Live Updates & Top Stories | Vimarsana

By Mike Wackett (The Loadstar) – Shippers must brace themselves for at least two more years of elevated freight rates and tight supply, according to Drewry. The maritime consultant predicts average rates – a blend of spot, contract, backhaul and regional trade rates – will increase about 23% this year; but for some headhaul routes, it said, the hike would be “substantially higher”. During Drewry’s Container Shipping Outlook webinar today, senior manager for container research Simon Heaney said rates were expected to fall next year, although not to pre-pandemic levels. “For 202...

Synopsis Teams from the German company that hired the crew and a consortium of insurers for the ship’s owner are just starting to investigate what caused the marooning of the Ever Given. AP The ship is as long as the Empire State Building is tall, with the capacity to carry 20,000 containers stacked 12 to 14 high. TOKYO: It took six days to prise free a giant container ship that ran aground and clogged the Suez Canal, one of the world’s most crucial shipping arteries. It could take years to sort out who will pay for the mess. Cargo companies, insurers, government authorities and a phalan...

The world’s biggest makers of shipping containers are scrambling to meet a surge in demand for the metal boxes that shuttle some 90% of the goods around the global economy. A trade boom in the second half of last year caught the container producers — mostly Chinese companies — by surprise as the pandemic threw the existing supply of about 25 million boxes off their normal routes. The manufacturers have been ramping up output ever since, but they’re unable to alleviate shortages that have underpinned soaring freight rates for six months. The problem resembles those in the car industry,...

Synopsis The problem resembles those in the car industry, where auto makers cut computer chip orders early in 2020 expecting a slump in sales, only to see household consumption prove resilient. iStock Production rose to 300,000 20-foot equivalent units in September, then to 440,000 in January. The world’s biggest makers of shipping containers are scrambling to meet a surge in demand for the metal boxes that shuttle some 90% of the goods around the global economy. A trade boom in the second half of last year caught the container producers -- mostly Chinese companies -- by surprise as the pa...

(March 10): Some of the world’s biggest exporters in Asia are intervening to alleviate a shipping container shortage that jeopardizes their overseas trading. Government-owned Indian Railways has moved empty boxes to inland depots like Delhi from seaports for free. South Korea has deployed an extra nine vessels on the Trans-Pacific route to help local manufacturers, while China’s state-owned shipyard, Cosco Shipping Heavy Industry, has converted at least one freshly built paper-and-pulp carrier to transport the containers.