Shipping Container Leasing Rates Rise The maritime shipping industry worldwide has seen a notable increase in rates recently, primarily due to the issues in the Red Sea. Up to three months into the crisis, China-US trade route’s container leasing costs have skyrocketed, escalating by an incredible 223%—a threefold increase—compared to pre-crisis levels. Furthermore, container demand […]
View PostSupreme Court Clarifies War Risk Provisions
The Supreme Court recently issued a landmark decision that provides clearer guidance on the interpretation of war risk clauses in charterparty agreements. The ruling has significant implications for the shipping industry, particularly regarding the allocation of risks associated with maritime conflicts and hostilities. Background Charterparties are contracts by which a shipowner agrees to rent out […]
View PostUPDATE ON THE RED SEA SHIPPING CRISES
The Red Sea shipping crisis, stemming from Houthi rebel attacks on cargo ships and tankers, is forcing hundreds of vessels to reroute around southern Africa and avoid the vital Suez Canal. Vessels from Australia’s major ports of Sydney, Melbourne, Brisbane, Perth and Adelaide have already started the detour. This detour amplifies each journey by 4,000 […]
View PostContainer Shipping and Logistics
• – Container shipping has transformed global trade by making it more efficient, cost-effective and interconnected. The largest container ship can carry over 24,000 containers. Containers are commonly used to ship goods internationally due to their suitability for multimodal transport between ships, trucks and other modes. Ship capacity is measured in TEUs (twenty-foot equivalent units) […]
View PostMiddle East Shipping Disruptions
Don’t forget to also consider the impact of political and economic factors on international container shipping rates in 2024. The shipping industry is heavily influenced by trade policies, tariffs, and economic stability of countries involved in global trade and global trade lanes. With potential changes in leadership and shifts in global power dynamics and war/unrest […]
View PostInternational Shipping Charges to Increase
17 Jan, 2024• – Shipping companies were forced to reroute around the Cape of Good Hope due to attacks on vessels transiting the Red Sea by Yemen-based Houthis, leading to higher ocean freight rates. US owned vessel Gibraltar Eagle was recently struck by Houthi militants, according to the US Central Command. The disruptions are reversing […]
View PostNZ’S SHIPPING RATES TO INCREASE
090 JAN 2024• New Zealand consumers may face higher prices due to shipping disruptions caused by attacks in the Red Sea. • The region is a vital route for global seaborne trade, and recent attacks by Iran-backed rebels have led to concerns and calls for immediate ceasefire. • As a result, shipping companies are opting […]
View PostFreight Forwarding
The world of freight forwarding is evolving constantly due to global economic shifts, technological advancements, and changing consumer expectations. According to Maersk, there are five trends that will shape the future of freight forwarding in 2024 and beyond. Maersk predicts that 2024 will pose significant challenges for freight forwarders, as they will need to navigate […]
View PostDOMESTIC AIR FREIGHT
CargoMaster is an experienced and trusted domestic air freight provider in Australia, providing domestic container shipping and international cargo transport services across the country. We provide reliable and cost-effective solutions for businesses of all sizes to meet their unique shipping needs. With access to a full range of aircraft, from small charters to large jetliners, […]
View Post“Is Maersk Shipping, the canary in the coalmine”
4TH JULY 2022 A.P. Moller-Maersk, considered one of the largest container shipping companies with over 15% of the market is predicting a slow down in international container shipping with demand predicted to drop of in the later part of 2022 and into 2023. Maersk attribute the slow down to weak consumer demand and world-wide supply […]
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