Container shipping rates are spiking once again. For the first time since the pandemic era, ocean freight rates are nearing record highs. This surge in rates is attributed to limited container supply due to rerouting around the Red Sea, and strong demand in multiple regions. The busy season has commenced earlier than usual, driving rates…
The container shipping industry is a major contributor to global carbon emissions, with diesel-powered freighter ships responsible for transporting approximately 90% of global cargo. This reliance on carbon-emitting vessels underscores the international economy’s dependence on this mode of transportation. Furthermore, most container ships utilize heavy bunker fuel, which exacerbates carbon emissions. Annually, the sector consumes…
Climate change is affecting the viability of the Panama Canal, a crucial artery for global trade. A prolonged and severe drought during what should have been Panama’s rainy season has significantly lowered the water level of Gatún Lake, the freshwater source essential for operating the canal’s locks. The lake is currently nearly 6 feet below…
Did you know that 57% of companies spend over 2 hours each day trying to acquire accurate market prices? Container xChange has recently conducted a survey to gain insights into how independent freight forwarders keep pace with ocean freight shipping industry trends. The survey uncovered that a significant number of companies still rely on cumbersome…
The ocean freight shipping industry is responsible for the transportation of a staggering 90% of all internationally shipped goods. Although other modes of international transport offer faster delivery, they come with higher costs. When organizing an overseas shipment, it is crucial to choose the appropriate ocean container that suits your requirements. Selecting the correct…
LNG or Liquefied Natural Gas could be the fuel for the energy transition in the ocean freight shipping industry. The maritime sector which moves around 90% of the goods across the world is still heavily reliant on fossil fuels. Therefore, making this sector environmentally sustainable is one of the major priorities of governments as well…
In 2021 we have seen a drop in the use of TEUs or 20-foot equivalent units. The Chinese manufacturers have been strongly favoring the use of FEUs or 40-foot shipping containers which in turn has threatened the future of the 20-foot containers. Although they have traditionally been a standard in the industry, the TEUs are…
Yara and tech company Kongsberg have created the ship YARA Birkeland which is all set to become the world’s first crewless cargo ship with zero carbon footprint. Finally, the container shipping industry has taken the next giant leap- viz the introduction of autonomous cargo ships. Although the concept of a self-steering cargo ship might sound…
The ever-increasing container shipping rates have finally dropped at least for the moment. Although the overall ocean freight rates are still extremely higher than usual, we can see a drop in freight rates between China to the USA. This is indeed very good news for the shipping industry that has been reeling under the effect…
The ongoing delays and blank sailings, the container shortage and lack of capacity, along with the rising demand for ocean freight from Asia to the USA have resulted in soaring freight rates. The increasing sea freight rates and the container crisis have generated a global supply chain disruption across industries. This has had a considerable…