It’s still very expensive to ship containers full of goods across the oceans. Spot rates globally are still more than quadruple pre-pandemic levels. But rates are now materially lower than they were a few months ago — and falling by the week. The Shanghai Containerized Freight Index (SCFI) logged its 15th consecutive weekly […]
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When global supply chains snap back to some form of normality – widely tipped to be in the second half of the year – transport operators will have to brace for a new headache, with an avalanche of empty containers predicted to cause some chaos.
The delays in the supply chain during […]
Pfizer and Merck have developed experimental antiviral pills that have shown promising efficacy in trials of adults with Covid-19 who are at high risk of serious illness. Both drugs also are being studied to see if they can prevent infection in people exposed to the virus.
Here is an explanation of the […]
The BA.2 subvariant of the Omicron coronavirus variant, which has quickly taken over in Denmark, is more transmissible than the more common BA.1 and more able to infect vaccinated people, a Danish study has found.
The study, which […]
South Korea’s exports expanded at their fastest pace in 11 years in 2021, with the total export value reaching a record high, supported by post-pandemic recoveries in global demand.
For the full year, exports rose 25.8% from a […]
Container freight market momentum appeared to be tailing off as the year drew to a close. But some recent developments suggest that 2022 will offer little respite to shippers.
The Freightos Baltic global container freight index bottomed out at $9,202 on November 19, some 17% lower than the September peak. It has […]
It has been a year of new records for the shipping industry. Carriers’ profitability during this year was so phenomenal that it favorably compared to that of the four most prominent American tech monopolies, collectively known as FANG (Facebook, Amazon, Netflix and Google)
However, the people behind this tremendous success have been […]
The world’s biggest furniture brand IKEA is raising prices by an average of 9% as it faces increasing costs in transport and raw materials, the owner of most of its stores worldwide said on Thursday.
IKEA had previously said it was leasing more ships, buying containers and re-routing goods between warehouses to […]
Swedish firefighters have had a busy weekend trying to contain a blaze which erupted on a Liberian-flagged ship carrying logs off Gothenburg.
The fire, which started in the fore cargo hold on Saturday, had not been extinguished 48 hours later despite the use of multiple vessels and helicopters to douse the ship. […]