Shanghai Port achieved a historic milestone in 2024, becoming the first port worldwide to handle over 50 million TEUs annually, setting a new global record in the history of port container transport and solidifying its position as the world’s busiest container port for 15 consecutive...
According to the Shanghai Containerised Freight Index, spot freight rates between Shanghai and Melbourne dipped to their lowest level since mid-August in the first week of December, reaching 3700FEU. Given the subdued state of the Australian retail economy this decline was anticipated sooner, however rates were...
A new direct freight service between Shanghai and Fremantle ports is set to boost trade between Western Australia and China, its largest trading partner, reducing shipment time from 30 days to 14 days. This new “direct” route effectively removes the need to discharge cargo at the...
Australia and the United Arab Emirates (UAE) have finalised the highly anticipated Comprehensive Economic Partnership Agreement (CEPA), representing a significant milestone in the strengthening of the trade relationship. This agreement provides Australian farmers, producers, manufacturers, service providers, exporters, and workers with unprecedented access and preferential treatment...
A more detailed examination of the Australia-China rates shows a slight recovery in spot rates in the third week of October, after several weeks of (mostly) falls. The Shanghai Containerised Freight Index increased slightly to USD 4052/FEU, up from USD 3932/FEU in the week prior, and...
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...
As part of his election campaign, U.S. President Joe Biden has announced steep tariff increases to a wide array of Chinese imports, which has seen China state their opposition and intention to defend its own interests. These new tariffs affect $18 billion in imported Chinese goods...
China's abolishment of the wine tariff in March has seen Australian wine exports skyrocket in the months since. Following the removal of this tariff, Australian wine exports have risen by more than 675% in volume and 8300% in value, as Australia's exported wine value hit over...
The collapse of the Middle East peace talks has seen China's container shipping futures rally, with interest up 15% from the previous week, potentially indicating shippers belief that rates will stay elevated. In addition, Linerlytica's latest report revealed that spot market rates have risen by almost...
In welcome news, China 's Ministry of Commerce has announced the abolishment of tariffs on Australian wine, which became effective as of 29th March 2024. Prior to the introduction of these punitive tariffs, mainland China was Australia's most valuable export market, worth AU$1.3billion, a value...