Container rates are likely to ease in the second half of 2024 if current conditions persist without significant changes, according to the latest market update from Container xChange. This anticipated reduction could lead to an increase in container buyer activity, as buyers are currently waiting for prices to decline before resuming trading and leasing activities. The market outlook for the latter half of the year depends heavily on a revival
Category: Shipping News
Shipping Companies Aim to Improve Fruit Quality by Controlling Full Reefer Logistics Chain
Shipping companies are increasingly taking control of the entire reefer logistics chain, from farm to final destination, to improve fruit quality and reduce wastage, according to logistics consultant Andy Connell. “It is inefficient to use reefers solely for port-to-port transport. They are mobile warehouses with refrigeration capabilities,” Connell told Freight News. “Reefers should be packed and kept under hermetically sealed conditions as close as possible to the point of production.
German Dock Workers Strike Amid Heated Wage Negotiations
German dock workers have launched strikes across the country as wage negotiations between the United Services Union (ver.di) and port operators intensify. Ver.di called for full-shift warning strikes at the Ports of Bremen and Wilhelmshaven on Wednesday and Thursday, while workers at the Ports of Hamburg and Bremerhaven initiated strikes on Tuesday and Wednesday. The Port of Emden saw strikes on Wednesday only. This strike action aims to pressure employers
Eighteen Filipino Seafarers Rescued off Cape West Coast
Eighteen Filipino seafarers have been rescued off the Cape West Coast after abandoning their severely listing Panama-registered cargo vessel, the MV Ultra Galaxy. The South African Maritime Safety Authority (Samsa) announced that the seafarers were found in a life raft about 60 nautical miles from Doringbaai in the Atlantic Ocean early Monday morning. The life raft was detected around 3 a.m., prompting an immediate rescue response. A Mayday call was
MSC Becomes First Container Shipping Line to Command 20% of Global Capacity
Mediterranean Shipping Company (MSC) has reached a significant milestone by becoming the first container shipping line to command a 20% share of the global containerized capacity. The Swiss carrier has rapidly expanded, outpacing the overall market, and is on the verge of reaching a capacity of six million twenty-foot equivalent units (TEU). This achievement marks a historic shift in the industry, as MSC has surpassed its long-time rival, Maersk, which
Namport Expands Lüderitz Bay Port for Green Energy and Oil Investments
Namport is preparing the Port of Lüderitz Bay to support investments in green energy, oil, and gas. The planned infrastructural developments aim to enhance the port’s capacity to accommodate current and future cargo volumes, as well as emerging industries such as green hydrogen, oil, and gas. “The port’s strategic location makes it an ideal hub for oil, gas, and green hydrogen production in Namibia, which is expected to attract more
Global Container Ship Fleet Grows by 11% in H1 2024
The global container ship fleet has expanded by 11% in the first half of the year, reaching a total capacity of 29.5 million TEU, according to the latest report from the Baltic and International Maritime Council (Bimco). This marks the fastest growth in 15 years, with 264 ships totaling 1.6 million TEU delivered from shipyards during this period—two-thirds more than in the same timeframe last year. “The capacity has risen
Cameroonian-Flagged Ship Accused of Transporting Stolen Ukrainian Grain for Russia
The Cameroonian-flagged vessel Usko Mfu has been implicated in transporting grain for Russia to the Middle East, according to the Security Service of Ukraine (SBU). The ship has reportedly made multiple trips to the Crimean port of Sevastopol since last year to load several tonnes of what is described as “looted” grain. Sevastopol is a crucial military hub for Russia on the Black Sea. To evade detection, the SBU claims
MPDC Initiates Tender for Maputo Port Container Terminal Expansion
The Maputo Port Development Company (MPDC) has launched a public tender to engage engineering, procurement, and construction firms for the first phase of expanding the Maputo port container terminal, operated by DP World, a multinational logistics company based in the UAE. This expansion, announced in February following the extension of MPDC’s concession contract, aims to double the terminal’s capacity from 255,000 twenty-foot equivalent units (TEUs) to 530,000 TEUs. According to
SOLAS Amendments Set New Standards for Maritime Safety and Environmental Protection
The World Shipping Council (WSC) has enthusiastically endorsed the recent amendments to the International Convention for the Safety of Life at Sea (SOLAS) adopted by the International Maritime Organization’s (IMO) Maritime Safety Committee. Effective January 1, 2026, these amendments will mandate the reporting of all containers lost at sea, setting a new benchmark for maritime safety and environmental protection. “The new regulations, specifically amending SOLAS Chapter V Regulations 31 and