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Posts tagged “Ocean Freight”

 
DP WORLD TO INVEST £300M IN NEW FOURTH BERTH AT LONDON GATEWAY 
 
DP World has announced that it will begin work next month on a new fourth berth at its London Gateway logistics hub to increase supply chain resilience and create more capacity for the world’s largest vessels. 
 
The £300m sum - which builds on the £2bn investment DP World has made in Britain over the last decade – represents the next step by the leading global provider of smart logistics in delivering integrated supply chain solutions for customers. 
 
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Little relief in sight for container equipment shortages 
 
The shortage of boxes that is plaguing shippers is not due to any underinvestment in the equipment fleet, but due to the extended time they are spending in transit, according to container shipping specialist Drewry 
 
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Ningbo’s Meishan terminal partially reopens 
 
THE blocked Meishan terminal in the major Chinese container port of Ningbo appears to have partly been reinstated, with new arrivals of three containerships last weekend – and after Meishan started to handle vessels at berth in the middle of last week. 
 
The development comes after two large boxships – 22,000 teu CMA CGM Rivoli and 8,633 teu CMA CGM Samson – left Meishan over the weekend after being at berth for more 10 days due to the coronavirus-led closure of the facility. 
 
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Typhoon could continue to disrupt Shanghai ports 
 
Typhoon In-Fa, which slammed into eastern China last weekend, prompting local authorities to evacuate more than 100,000 people and shut schools, markets and businesses, could continue to impact ocean and air freight flows in the Shanghai region in the coming days. 
 
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Shippers urged to book early for this peak season 
 
Cargo owners are being urged to book early for this year’s air and ocean freight peak seasons, with the current strong demand for space and limited capacity likely to extend into next year – along with high prices. 
 
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Ocean rates continue to climb as peak season heats up 
 
Demand for ocean freight capacity on key trades continues to outstrip supply as peak season heats up, pushing listed Asia-North Europe spot freight rates past the US$13,000/FEU mark, “and sending Europe to South America rates spiking more than 30% since last week”, the latest spot market figures and analysis from digital freight platform Freightos indicate. 
 
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Ocean freight spot rates continue to surge 
 
Ocean freight spot rates have continued to surge over the last week, with average rises close to 5% compared with the previous week across the eight major East-West trades assessed by container shipping specialist Drewry, and further rises expected this week. 
 
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South China port disruptions ‘could extend to Christmas’ 
 
Dwell times at the major ports in and around the south China city of Shenzhen “remain disruptively high”, despite trending downward in recent days with the Port of Yantian at full capacity again, according to freight visibility platform Project44. 
 
It said the data suggests that disruptions related to China’s COVID-19 quarantine efforts could extend well into the year, impacting seasonal shipments as far out as Christmas. 
 
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Shipper competition driving up ocean freight rates 
 
Rates will keep rising while there is more cargo than capacity to ship it, with some cargo owners on long-term contracts and high volumes benefitting from their scale and gaining a significant competitive advantage 
 
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Ocean freight disruption could hasten re-positioning of supply chains 
 
The prolonged disruption to ocean freight logistics with continuing patterns of container equipment and vessel capacity shortages, port congestion and delays, could hasten structural change in global supply chains put to the severest of tests over the past 18 months. 
 
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