Excess capacity and weak US import demand has seen freight rates across the Trans-Atlantic fall below pre-pandemic levels, with the spot rate down 57% from the same period in 2019. According to PIERS, total containerised imports from Asia tumbled 21% year over year through August in...
US imports from Asia increased for the fifth consecutive month in July, reaching 1.46 million TEUs - the highest since September 2022. This increase reflects the increased probability that eastbound trans-Pacific trade will return to year-over-year import growth this upcoming peak season. Although total July imports from...
As previously notified, low water levels on the critically important Panama Canal have prompted the Central American country to reduce the number of vessels that pass through the key global trade route. Each day an average of 32 ships is allowed to pass through, which...
There's been substantial commentary around the lack of a perceived peak season in 2023 however given the rapidly changing situation across the ocean's trade routes, how accurate does this claim continue to be? Whilst traditionally the premise of a peak season is based on the volume...
Since 1 June 2023, Victoria International Container Terminal (VICT) at Webb Dock, Melbourne has been applying a VGM Weight Discrepancy Fee for full import and export containers determined to have a variance over or under one tonne from the container's Verified Gross Mass (VGM) declared...
The latest update of Drewry’s composite World Container Index (WCI) has seen a weekly decrease by 2.7% to reach $1494.46 per 40-foot container whilst the composite index has dropped by 78.9% when compared to the same week last year. The index is now 86% below the...
Severe drought conditions affecting the Panama Canal is forcing container vessels to lighten their loads and pay higher fees, with further increases in the cost of shipping cargo through the canal expected this summer. The Panama Canal Authority (ACP) has stated it will progressively decrease the...
According to Sea-Intelligence Maritime Analysis, vessel schedule reliability for the US West Coast has hit a two-year high, with on-time performance up 2.4 percentage points to reach 52.6% in May. Conversely, reliability across the East Coast decreased by 3.3 percentage points to 42.9% over the...
Here at Transolve Global we are always looking for ways to provide you with an exceptional logistics experience that not only meets your needs, but also provides you with a competitive advantage in an ever-changing market. That's why we have partnered with Logixboard, a digital platform...
Whilst the latest Drewry World Container Index increased by 1% last week, it has dropped 77% compared with the same week last year. The latest Drewry WCI composite index of $1,763 per 40-foot container is now 83% below the peak of $10,377 in September 2021. The latest...