The latest Drewry World Container Index (WCI) continued its decline, falling by 4% to US$3349 per 40-foot container in September, which is 68% below the previous pandemic peak of US$10,377 in September 2021. The average composite index for the year to date is US$4079 per 40-foot...
The Australian Government has imposed embargoes on Turkish Airlines which has impacted freight services operating from or via Turkey. The injunctions have sanctioned all cargo services provided by Turkish Airlines and Australian financial institutions are restricted from processing transactions with the airline, complicating any payment processes. These...
Government delegates from around the world at the International Maritime Organization (IMO) have progressed closer towards toward global greenhouse gas regulations aimed at cutting the carbon intensity of shipping by 40% by 2023. A draft legal text which is to serve as the basis for ongoing...
Southwest Florida seaport, SeaPort Manatee, is to be awarded $9.5 million to aid its recovery and repair efforts following the damage caused by Hurricane Milton. Initial damage assessments reflect potential losses of $225 million with the loss of on-site warehouses, docking facilities and widespread destruction...
Container spot freight rates on the main trades out of Asia have continued to fall as the postponement of the ILA strike eased industry concerns about the potential ramifications of the industrial action. Whilst some congestion did result from the three-day ILA strike which has affected...
US-based container lessor CAI International has announced a $1.35bn investment which will see 700,000 new containers hit the sea. This initiative is in response to an anticipated increase in demand due to the shortage which has resulted from the volatile conditions across the Red Sea and...
An authorised Maritime Union of Australia (MUA) stop work meeting will be conducted at the DP World Melbourne Terminal from 9:30am -2:00pm on Wednesday, 30th October 2024. Please note that all terminal operations will cease during this period. FOLLOW US FOR THE LATEST NEWS! Simply click here to follow...
Qantas Freight has officially become the first freight airline to operate at Western Sydney International (Nancy-Bird Walton) Airport's (WSI) 24-hour Cargo Precinct. The precinct will increase Sydney's air cargo capacity by around 33 per cent upon opening and provide dedicated access to nearby freight and logistics centres, with...
Last month the Chinese-leased Darwin Port signed a "friendly cooperation" agreement with Shenzhen Port in Southern China to support a closer relationship and boost trade opportunities. This non-binding Memorandum of Understanding (MOU) aims to increase trade links between both strategic maritime gateways, boost trade opportunities and...
The period July 2023-January 2024 saw a decrease of 24% in volume and 22% in value for New Zealand wine exports, with a slight recovery growth of 6% by June 2024. Although this trend is reflective of the current state of global wine consumption, New Zealand...